Latest Ratios: P/E Ratio -70.2x · EV/EBITDA 27.4x · ROE -5.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.6B | $1.4B | $956M | $727M | $618M | $573M | $641M | $596M | $423M | $329M | $289M |
| Enterprise Value | $2.9B | $1.7B | $1.2B | $980M | $854M | $817M | $921M | $885M | $642M | $543M | $448M |
| P/E Ratio → | -70.16 | — | 30.31 | 45.67 | 21.44 | 4.23 | 22.01 | 18.37 | 47.17 | 16.35 | 11.41 |
| P/S Ratio | 3.21 | 1.72 | 1.22 | 0.96 | 0.87 | 0.89 | 1.02 | 0.83 | 0.67 | 0.59 | 0.52 |
| P/B Ratio | 3.96 | 2.15 | 1.40 | 1.14 | 1.17 | 1.21 | 1.95 | 2.04 | 1.65 | 1.40 | 1.36 |
| P/FCF | — | — | 47.66 | 63.00 | 47.56 | — | 6344.04 | 18.20 | 14.80 | 42.03 | 10.99 |
| P/OCF | — | — | 27.96 | 23.41 | 18.90 | — | 50.81 | 11.68 | 9.16 | 9.28 | 6.67 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.09 | 1.51 | 1.29 | 1.20 | 1.27 | 1.46 | 1.23 | 1.02 | 0.97 | 0.81 |
| EV / EBITDA | 27.42 | 16.02 | 13.90 | 15.94 | 12.00 | 10.58 | 12.38 | 10.46 | 13.05 | 14.33 | 8.72 |
| EV / EBIT | 39.92 | — | 22.81 | 26.38 | 19.03 | 4.50 | 20.18 | 15.78 | 16.60 | 22.18 | 9.53 |
| EV / FCF | — | — | 59.39 | 84.90 | 65.77 | — | 9117.74 | 27.02 | 22.45 | 69.37 | 17.07 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.9% | 26.9% | 25.1% | 21.6% | 20.3% | 22.1% | 21.9% | 21.1% | 19.5% | 18.4% | 19.3% |
| Operating Margin | 8.9% | 8.9% | 6.6% | 3.8% | 5.6% | 7.6% | 7.2% | 7.8% | 3.8% | 2.7% | 5.2% |
| Net Profit Margin | -4.5% | -4.5% | 4.0% | 2.1% | 4.0% | 21.0% | 4.6% | 4.5% | 1.4% | 3.6% | 4.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -5.6% | -5.6% | 4.8% | 2.7% | 5.8% | 33.7% | 9.4% | 11.8% | 3.7% | 9.0% | 12.6% |
| ROA | -3.2% | -3.2% | 2.8% | 1.5% | 2.9% | 14.9% | 3.6% | 4.5% | 1.5% | 3.7% | 4.7% |
| ROIC | 5.9% | 5.9% | 4.3% | 2.6% | 4.0% | 5.5% | 5.7% | 8.0% | 3.9% | 2.7% | 5.4% |
| ROCE | 7.5% | 7.5% | 5.5% | 3.3% | 4.9% | 6.5% | 6.8% | 9.6% | 4.7% | 3.3% | 6.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.52 | 0.52 | 0.40 | 0.46 | 0.54 | 0.68 | 1.02 | 1.12 | 0.89 | 0.92 | 0.79 |
| Debt / EBITDA | 3.22 | 3.22 | 3.18 | 4.81 | 3.97 | 4.15 | 4.53 | 3.88 | 4.66 | 5.71 | 3.25 |
| Net Debt / Equity | — | 0.45 | 0.34 | 0.40 | 0.45 | 0.51 | 0.85 | 0.99 | 0.85 | 0.91 | 0.75 |
| Net Debt / EBITDA | 2.80 | 2.80 | 2.74 | 4.11 | 3.32 | 3.16 | 3.77 | 3.42 | 4.45 | 5.65 | 3.10 |
| Debt / FCF | — | — | 11.72 | 21.89 | 18.21 | — | 2773.69 | 8.82 | 7.65 | 27.34 | 6.07 |
| Interest Coverage | -2.73 | -2.73 | 3.41 | 1.79 | 3.88 | 16.24 | 3.34 | 3.06 | 2.97 | 2.76 | 5.27 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.50 | 3.50 | 3.24 | 2.99 | 2.64 | 3.03 | 2.87 | 2.36 | 2.27 | 2.75 | 2.62 |
| Quick Ratio | 2.47 | 2.47 | 2.12 | 1.86 | 1.79 | 2.10 | 1.97 | 1.58 | 1.47 | 1.23 | 1.23 |
| Cash Ratio | 0.25 | 0.25 | 0.21 | 0.23 | 0.23 | 0.47 | 0.40 | 0.27 | 0.08 | 0.03 | 0.09 |
| Asset Turnover | — | 0.70 | 0.70 | 0.68 | 0.70 | 0.66 | 0.75 | 0.91 | 0.97 | 0.98 | 1.07 |
| Inventory Turnover | 3.30 | 3.30 | 2.99 | 2.87 | 3.32 | 3.33 | 3.80 | 5.06 | 5.01 | 3.73 | 3.71 |
| Days Sales Outstanding | — | 165.63 | 144.00 | 136.15 | 151.24 | 140.63 | 123.06 | 87.98 | 89.60 | 48.43 | 50.54 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 3.3% | 2.2% | 4.7% | 23.6% | 4.5% | 5.4% | 2.1% | 6.1% | 8.8% |
| FCF Yield | — | — | 2.1% | 1.6% | 2.1% | — | 0.0% | 5.5% | 6.8% | 2.4% | 9.1% |
| Buyback Yield | 0.1% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% | 2.1% | 0.5% |
| Total Shareholder Yield | 0.1% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% | 2.1% | 0.5% |
| Shares Outstanding | — | $15M | $15M | $14M | $12M | $12M | $12M | $12M | $12M | $12M | $11M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying DCO stock.
Ducommun Incorporated's current P/E ratio is -70.2x. The historical average is 18.3x.
Ducommun Incorporated's current EV/EBITDA is 27.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.1x.
Ducommun Incorporated's return on equity (ROE) is -5.6%. The historical average is 8.2%.
Based on historical data, Ducommun Incorporated is trading at a P/E of -70.2x. Compare with industry peers and growth rates for a complete picture.
Ducommun Incorporated has 26.9% gross margin and 8.9% operating margin.
Ducommun Incorporated's Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Net loss persistence and modest growth
Metrics are mathematically derived from official filings.
Margin Expansion Masks Underlying Charges
Gross margin improved to 28.0% in 2026Q2 from 26.6% a year earlier, according to the latest quarterly report, while operating margin reached 12.6%, suggesting pricing power and operational leverage.
The 150 basis point gross margin expansion and 380 basis point operating margin improvement in 2026Q2 indicate that the company is benefiting from better product mix and cost discipline. However, the trailing twelve-month net margin of -4.5% is distorted by a one-time non-cash charge in 2025Q3, which masks the underlying profitability. Investors should focus on operating margin as the cleaner measure of earning power, as it reflects the core manufacturing economics before non-operating items.
Return on Capital Inflecting Upward
ROIC improved to 2.2% in 2026Q2 from 1.1% a year earlier, as reported in the financial statements, indicating that the company is beginning to generate better returns on its invested capital.
The doubling of ROIC from 1.1% to 2.2% year-over-year, while still low in absolute terms, suggests that the company is moving in the right direction. The improvement is driven by margin expansion rather than asset efficiency, as asset turnover has remained flat at 0.19. This implies that the company is not yet generating sufficient returns to cover its cost of capital, but the trend is encouraging. If the company can sustain the margin improvements, ROIC should continue to climb, though it remains well below peers like TransDigm's 20.9%.
Working Capital Cycle Lengthens
Cash conversion cycle extended to 218 days in 2026Q2 from 216 days in 2024Q1, based on reported figures, driven by a rise in days sales outstanding to 161 days.
The CCC has remained persistently above 200 days, indicating that the company ties up significant capital in receivables and inventory. DSO increased from 138 days in 2024Q1 to 161 days in 2026Q2, suggesting that customers are taking longer to pay, which may reflect the company's bargaining power relative to its OEM customers. DIO has declined slightly from 128 to 106 days, but the overall cycle remains long. This working capital intensity is a key reason why free cash flow can be volatile, as seen in the -36.3% FCF margin in 2025Q4. Management's ability to reduce DSO would be a meaningful driver of cash flow improvement.
Leverage Creeps Up but Coverage Improves
Debt-to-equity rose to 0.49 in 2026Q2 from 0.45 in 2024Q1, while interest coverage improved to 8.04 from 3.25, as per the balance sheet, indicating more comfortable debt service.
The increase in leverage is modest and remains conservative relative to peers, but the improvement in interest coverage from 3.25 to 8.04 is notable. This suggests that operating income is growing faster than interest expense, providing a larger cushion for debt service. The D/EBITDA ratio of 9.11 in 2026Q2 is elevated, but this is partly due to the depressed EBITDA from the one-time charge in 2025Q3. Excluding that anomaly, the leverage appears manageable. The company's low debt levels give it financial flexibility, though the recent increase in debt to fund operations or acquisitions warrants monitoring.
Liquidity Buffer Remains Strong
Current ratio improved to 3.36 in 2026Q2 from 2.99 in 2024Q1, with quick ratio at 2.38, as reported in the balance sheet, indicating ample short-term coverage.
The current ratio of 3.36 and quick ratio of 2.38 suggest that the company has more than sufficient liquid assets to cover its short-term obligations, even after excluding inventory. This provides a strong buffer against operational disruptions or a sudden downturn in aerospace demand. The improvement in liquidity ratios over the past two years indicates that the company is building a more resilient balance sheet. However, the high inventory levels, which are typical for aerospace manufacturing, mean that the quick ratio is a more conservative measure of liquidity, and it remains healthy.
Net Margin Misleads on Core Health
The most commonly misapplied ratio is net margin, which is distorted by a one-time non-cash charge in 2025Q3, as per the income statement, obscuring the company's underlying profitability.
Analysts often screen on net margin, but for Ducommun, this metric is misleading due to the -30.3% net margin in 2025Q3, which appears to be a one-time impairment or tax adjustment. The operating margin of 8.95% and the strong 2026Q2 EPS beat of $1.31 versus consensus of $0.98 indicate that the core business is generating healthy profits. Instead of net margin, investors should use operating margin or EBIT margin to assess the company's earning power, and adjust for non-recurring items to arrive at a normalized net income. This is particularly important for a company with a history of acquisitions and potential goodwill impairments.