DCO Industrials

Ducommun Incorporated

$166.70+1.86%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Industrials
Industry: Aerospace & Defense
Country: United States
Market cap: 2.5B USD
Enterprise value: 2.8B USD
Full-time employees: 2,130

Overall health

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity
Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.04 vs a peer median of 0.64)bigger price swings (beta 1.04 vs peers 0.64)

Ranks #1,882 of 2,308 industrials companies (bottom 19%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 25% from December 2022 to July 2026.
Ducommun had 25% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Ducommun had 25% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Earnings slid into a loss. Loss per share this year after a profit last year.
Ducommun made a loss per share in its latest year after a profit the year before.
Operating margin at a 6-year low. -4.3% in 2025, the weakest of the last 6 years.
Ducommun's operating margin fell to -4.3% in 2025, its lowest in the 6 years of filings we have.
Loss over 12 months, profit last quarter. Lost money in the 12 months to July 2026, but made a $20M profit in the quarter to July 2026.
Ducommun reported a net loss over the last twelve months, but its most recent quarter was profitable ($20M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

StockQuotient Score

33/ 100

Oct 5 33 → Nov 4 33

Valuation

Is the price right?

13/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ FCF yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-0.8%

SEC filings · 12 months to Jul 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yield0.7%

SEC filings · 12 months to Jul 2026Reported value50% base weight · Z-score -1.47Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield-1.0%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield27.4%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

34/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.8%

Why

Weaker than most peers on:

▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a profit to a loss33% base weight · Z-score -2.21Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth5.2%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score 0.16Sector median: 0.0421 · MAD: 0.0625

Revenue growth9.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.63Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

13/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ Operating margin
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-1.7%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -1.85Sector median: 0.0773 · MAD: 0.0507

Return on assets-1.7%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -2.01Sector median: 0.0311 · MAD: 0.0241

Return on invested capital-1.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -1.50Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin27.4%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity-3.1%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 72 → 73

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.04

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.43Sector median: 0.6440 · MAD: 0.2745

Current ratio3.36×

SEC filings · latest balance sheetReported value33% base weight · Z-score 3.25Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.40×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.00Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Ducommun

Is Ducommun getting weaker?: Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 33/100 since Oct 28, 2026.
How is Ducommun valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 13/100 against 2,459 industrials peers. Earnings yield -0.8% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -0.8% vs peers 3.8% (weaker than 100% of peers).
Is Ducommun growing?: More slowly than most of its peers. Growth scores 34/100 against 2,459 industrials peers. Revenue growth 9.2% vs a peer median of 4.4% (stronger than 67% of peers).Revenue growth 9.2% vs peers 4.4% (stronger than 67% of peers).
How profitable is Ducommun?: Less profitable than most of its peers. Profitability scores 13/100 against 2,459 industrials peers. Return on assets -1.7% vs a peer median of 3.1% (weaker than 89% of peers).Return on assets -1.7% vs peers 3.1% (weaker than 89% of peers).
How risky is Ducommun?: Lower risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 3.36× vs a peer median of 1.62× (stronger than 88% of peers).Current ratio 3.36× vs peers 1.62× (stronger than 88% of peers). Beta 1.04 vs a peer median of 0.64 (weaker than 77% of peers).Beta 1.04 vs peers 0.64 (weaker than 77% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 4, 2026 · filed Aug 6, 2026 · compared with the quarter ended Apr 4, 2026

No major changes

Worth watching: Ducommun is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	841.4M USD	865.1M USD	+2.8%
Net income (12 months)	−28.8M USD	−21.2M USD	−26.5%
Operating margin	-3.0%	-1.7%	+1.3 pts
Free cash flow (12 months)	−36.3M USD	−24.5M USD	−32.6%
Debt	303.8M USD	277.5M USD	−8.6%
Cash	39.1M USD	39.8M USD	+1.8%
Shares outstanding	15.1M	15.1M	+0.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Aerospace & Defense · 48 companies

Valuations in Aerospace & Defense are near the top of their range since 2016.

88% of months since 2016 were valued lower than now.
50% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +71% and earnings +71% (medians): prices and earnings moved broadly together.
Median price-to-sales is +41% vs the whole market, against a usual −16%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	22.1%	20.3%	21.6%	25.1%	26.9%	▲ 1.8 pts
Operating margin	7.6%	5.6%	3.8%	5.4%	-4.3%	▼ 9.7 pts
Net margin	21.0%	4.0%	2.1%	2.8%	-4.5%	▼ 7.3 pts
Return on assets (ROA)	13.8%	2.8%	1.4%	1.9%	-3.1%	▼ 5.1 pts
Return on equity (ROE)	28.6%	5.5%	2.5%	3.2%	-5.6%	▼ 8.8 pts
Free cash flow margin	-2.7%	1.8%	1.5%	2.5%	-5.9%	▼ 8.4 pts
Current ratio	3.03×	2.64×	2.99×	3.24×	3.49×	▲ 7.9%
Quick ratio	2.10×	1.79×	1.91×	2.11×	2.47×	▲ 17%
Debt to equity	0.61×	0.47×	0.42×	0.36×	0.46×	▲ 29%

DCO price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.04 vs a peer median of 0.64)bigger price swings (beta 1.04 vs peers 0.64)

Ranks #1,882 of 2,308 industrials companies (bottom 19%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 25% from December 2022 to July 2026.

Ducommun had 25% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Ducommun had 25% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Earnings slid into a loss. Loss per share this year after a profit last year.

Ducommun made a loss per share in its latest year after a profit the year before.

Operating margin at a 6-year low. -4.3% in 2025, the weakest of the last 6 years.

Ducommun's operating margin fell to -4.3% in 2025, its lowest in the 6 years of filings we have.

Loss over 12 months, profit last quarter. Lost money in the 12 months to July 2026, but made a $20M profit in the quarter to July 2026.

Ducommun reported a net loss over the last twelve months, but its most recent quarter was profitable ($20M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

Questions investors ask about Ducommun

Is Ducommun getting weaker?

Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 33/100 since Oct 28, 2026.

How is Ducommun valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 13/100 against 2,459 industrials peers. Earnings yield -0.8% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -0.8% vs peers 3.8% (weaker than 100% of peers).

Is Ducommun growing?

More slowly than most of its peers. Growth scores 34/100 against 2,459 industrials peers. Revenue growth 9.2% vs a peer median of 4.4% (stronger than 67% of peers).Revenue growth 9.2% vs peers 4.4% (stronger than 67% of peers).

How profitable is Ducommun?

Less profitable than most of its peers. Profitability scores 13/100 against 2,459 industrials peers. Return on assets -1.7% vs a peer median of 3.1% (weaker than 89% of peers).Return on assets -1.7% vs peers 3.1% (weaker than 89% of peers).

How risky is Ducommun?

Lower risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 3.36× vs a peer median of 1.62× (stronger than 88% of peers).Current ratio 3.36× vs peers 1.62× (stronger than 88% of peers). Beta 1.04 vs a peer median of 0.64 (weaker than 77% of peers).Beta 1.04 vs peers 0.64 (weaker than 77% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

841.4M USD

865.1M USD

+2.8%

Net income (12 months)

−28.8M USD

−21.2M USD

−26.5%

Operating margin

-3.0%

-1.7%

+1.3 pts

Free cash flow (12 months)

−36.3M USD

−24.5M USD

−32.6%

Debt

303.8M USD

277.5M USD

−8.6%

Cash

39.1M USD

39.8M USD

+1.8%

Shares outstanding

15.1M

15.1M

+0.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

22.1%

20.3%

21.6%

25.1%

26.9%

▲ 1.8 pts

Operating margin

7.6%

5.6%

3.8%

5.4%

-4.3%

▼ 9.7 pts

Net margin

21.0%

4.0%

2.1%

2.8%

-4.5%

▼ 7.3 pts

Return on assets (ROA)

13.8%

2.8%

1.4%

1.9%

-3.1%

▼ 5.1 pts

Return on equity (ROE)

28.6%

5.5%

2.5%

3.2%

-5.6%

▼ 8.8 pts

Free cash flow margin

-2.7%

1.8%

1.5%

2.5%

-5.9%

▼ 8.4 pts

Current ratio

3.03×

2.64×

2.99×

3.24×

3.49×

▲ 7.9%

Quick ratio

2.10×

1.79×

1.91×

2.11×

2.47×

▲ 17%

Debt to equity

0.61×

0.47×

0.42×

0.36×

0.46×

▲ 29%