DCO

MKT CAP:$2B

Ducommun Incorporated

Market Cap

$2B

Industrials·Aerospace & Defense·🇺🇸 United States·NYSE

Industrials·Aerospace·🇺🇸·NYSE

Stock Price

$140.30+$43.50 (+44.94%)

Apr 17, 2026

Company Details

Ducommun Incorporated provides engineering and manufacturing products and services primarily to the aerospace and defense, industrial, medical, and other industries in the United States. It operates through two segments, Electronic Systems ...

CEO

Stephen G. Oswald

IPO Date

May 3, 1973

Website

www.ducommun.com

Key Metrics TTM

Revenue

$825M

+4.9% YoY

Net Income

-$34M

EPS (Diluted)

-$2.27

Free Cash Flow

-$49M

Revenue / Share

$55.20

Gross Margin

26.9%

Operating Margin

-3.9%

Net Margin

-4.1%

FCF Margin

-5.9%

P/S

2.5x

P/E

—

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 26, 2026

$825M+4.9%EPS -$2.27

Q4 2025

Feb 26, 2026

$216M+9.4%EPS $0.51

Q3 2025

Nov 5, 2025

$213M+5.5%EPS -$4.30

Q2 2025

Aug 7, 2025

$202M+2.7%EPS $0.83

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$163M	$32M	$9M
Q2 22	$174M	$35M	$8M
Q3 22	$187M	$39M	$13M
Q4 22	$188M	$39M	$10M
Q1 23	$181M	$37M	$6M
Q2 23	$187M	$40M	$5M
Q3 23	$196M	$45M	$9M
Q4 23	$192M	$42M	$9M
Q1 24	$191M	$47M	$13M
Q2 24	$197M	$51M	$14M
Q3 24	$201M	$53M	$15M
Q4 24	$197M	$46M	$10M
Q1 25	$194M	$52M	$17M
Q2 25	$202M	$54M	$18M
Q3 25	$213M	$56M	$20M
Q4 25	$216M	$60M	-$87M

Valuation

Quarter	P/S	P/E
Q1 22	3.2x	15.2x
Q2 22	3.1x	15.6x
Q3 22	3.0x	15.8x
Q4 22	2.9x	72.1x
Q1 23	2.8x	80.1x
Q2 23	2.8x	86.0x
Q3 23	2.8x	109.8x
Q4 23	2.7x	130.3x
Q1 24	2.7x	118.3x
Q2 24	2.7x	90.7x
Q3 24	2.7x	69.6x
Q4 24	2.6x	65.9x
Q1 25	2.6x	59.0x
Q2 25	2.6x	51.9x
Q3 25	2.6x	—
Q4 25	2.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$19M	-$24M
Q2 22	$25M	$21M
Q3 22	-$5M	-$11M
Q4 22	$32M	$27M
Q1 23	-$19M	-$24M
Q2 23	$9M	$4M
Q3 23	$14M	$9M
Q4 23	$26M	$23M
Q1 24	-$2M	-$7M
Q2 24	$3M	$144.0K
Q3 24	$14M	$12M
Q4 24	$18M	$15M
Q1 25	$771.0K	-$4M
Q2 25	$22M	$18M
Q3 25	$18M	$16M
Q4 25	-$75M	-$79M

Capital Expenditures

Quarter	CapEx
Q1 22	$5M
Q2 22	$4M
Q3 22	$5M
Q4 22	$5M
Q1 23	$5M
Q2 23	$6M
Q3 23	$5M
Q4 23	$3M
Q1 24	$5M
Q2 24	$3M
Q3 24	$2M
Q4 24	$4M
Q1 25	$5M
Q2 25	$4M
Q3 25	$2M
Q4 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+4.0%	+5.3%
Q2 22	+8.7%	+13.2%
Q3 22	+14.3%	+15.7%
Q4 22	+14.2%	+16.7%
Q1 23	+10.8%	+13.3%
Q2 23	+7.5%	+9.5%
Q3 23	+5.2%	+8.2%
Q4 23	+2.1%	+2.6%
Q1 24	+5.3%	+1.9%
Q2 24	+5.2%	+0.4%
Q3 24	+2.6%	-0.8%
Q4 24	+2.6%	+2.0%
Q1 25	+1.7%	-0.4%
Q2 25	+2.7%	+0.8%
Q3 25	+5.5%	+3.3%
Q4 25	+9.4%	+61.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	1.0%
Q2 22	$0	0.0%
Q3 22	$3M	1.5%
Q4 22	$3M	1.5%
Q1 23	$3M	1.7%
Q2 23	$5M	2.7%
Q3 23	$6M	2.9%
Q4 23	$1M	0.7%
Q1 24	$4M	2.2%
Q2 24	$4M	2.0%
Q3 24	$4M	2.2%
Q4 24	$5M	2.6%
Q1 25	$5M	2.8%
Q2 25	$6M	3.1%
Q3 25	$6M	2.7%
Q4 25	$7M	3.2%

OpEx Breakdown

Quarter	SG&A
Q1 22	$23M
Q2 22	$24M
Q3 22	$25M
Q4 22	$26M
Q1 23	$26M
Q2 23	$30M
Q3 23	$32M
Q4 23	$31M
Q1 24	$33M
Q2 24	$36M
Q3 24	$35M
Q4 24	$34M
Q1 25	$35M
Q2 25	$36M
Q3 25	$36M
Q4 25	$38M

Revenue Segments

Quarter	Electronic Systems	Structural Systems
Q1 22	$97M	$66M
Q2 22	$110M	$64M
Q3 22	$113M	$73M
Q1 23	$106M	$76M
Q2 23	$107M	$80M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$19M	$0	$19M
Q2 22	$38M	$0	$38M
Q3 22	$21M	$0	$21M
Q4 22	$46M	$0	$46M
Q1 23	$17M	$0	$17M
Q2 23	$23M	$0	$23M
Q3 23	$27M	$0	$27M
Q4 23	$43M	$0	$43M
Q1 24	$32M	$0	$32M
Q2 24	$29M	$0	$29M
Q3 24	$37M	$0	$37M
Q4 24	$37M	$0	$37M
Q1 25	$31M	$0	$31M
Q2 25	$37M	$0	$37M
Q3 25	$51M	$0	$51M
Q4 25	$45M	$0	$45M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	12M	+0.7%	+0.6%
Q2 22	12M	+0.0%	+0.7%
Q3 22	12M	+0.1%	+0.9%
Q4 22	12M	+0.6%	+1.5%
Q1 23	13M	+0.9%	+1.7%
Q2 23	14M	+8.5%	+10.3%
Q3 23	15M	+8.9%	+20.0%
Q4 23	15M	+0.5%	+19.9%
Q1 24	15M	+0.3%	+19.1%
Q2 24	15M	+0.2%	+10.0%
Q3 24	15M	+0.5%	+1.5%
Q4 24	15M	+0.4%	+1.4%
Q1 25	15M	+0.5%	+1.6%
Q2 25	15M	+0.3%	+1.7%
Q3 25	15M	-1.6%	-0.4%
Q4 25	15M	-0.2%	-1.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$65.9K	2K
Q2 22	$70.2K	2K
Q3 22	$75.2K	2K
Q4 22	$76.4K	2K
Q1 23	$73.5K	2K
Q2 23	$76.0K	2K
Q3 23	$79.6K	2K
Q4 23	$84.9K	2K
Q1 24	$84.3K	2K
Q2 24	$87.0K	2K
Q3 24	$88.9K	2K
Q4 24	$90.5K	2K
Q1 25	$89.0K	2K
Q2 25	$92.8K	2K
Q3 25	$97.5K	2K
Q4 25	$101.3K	2K

Revenue / Employee