Ducommun Inc /De/DCO

NYSEIndustrialsAircraft Parts & Auxiliary Equipment, NEC

Price (close)

$172.15

Market cap

$2.6B

P/E

—

Revenue (TTM)

$865.1M

Net income

-$21.2M

Dividend yield

—

1-year total return

87.9%

Net margin

-2.4%

Revenue growth

9.2%

Debt / equity

0.40x

What Ducommun Inc /De/ does.

Ducommun Incorporated (“Ducommun,” “the Company,” “we,” “us” or “our”) is a leading designer and manufacturer of and provider of manufacturing solutions for high-performance products often used in high-cost-of failure applications primarily in the aerospace and defense (“A&D”), industrial, medical and other industries (collectively, “Industrial”). Ducommun differentiates itself as a full-service solution-based provider, offering innovative, value-added proprietary products and manufacturing solutions to our customers in our primary businesses of electronics, structures, and integrated solutions. We operate through two primary business segments: Electronic Systems and Structural Systems. We are the successor to a business that was founded in California in 1849 and reincorporated in Delaware in 1970.

Acquisitions have been an important element of our growth strategy. We have supplemented our organic growth by identifying, acquiring and integrating businesses that result in broader, more sophisticated product and service offerings while diversifying and expanding our customer base and markets.

For example, in April 2023, we acquired 100% of the outstanding equity interests of BLR Aerospace L.L.C. (“BLR”), a privately-held leading provider of aerodynamic systems that enhance the productivity, performance, and safety of rotary and fixed-wing aircraft on commercial and military platforms. The initial purchase price was $115.0 million, net of cash acquired. We paid a gross aggregate of $117.0 million in cash upon the closing of the transaction. We utilized the 2022 Revolving Credit Facility (as defined below) to complete the acquisition. The acquisition of BLR added to our strategy to diversify and offer more customized, value-driven engineered products with aftermarket opportunities, and was included in our Structural Systems segment.

Revenue and profit, by fiscal year.

Fiscal year	2020	2021	2022	2023	2024	2025
Revenue	$628.9M	$645.4M	$712.5M	$757.0M	$786.4M	$824.8M
Net income	$29.2M	$135.5M	$28.8M	$15.9M	$21.7M	-$37.4M
Free cash flow	$101,000	-$17.4M	$13.0M	$11.5M	$20.1M	-$48.6M

More on DCO.

Figures from Ducommun Inc /De/'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.