Ducommun Incorporated provides engineering and manufacturing services for products and applications used in the aerospace and defense, industrial, medical, and other industries in the United States. It operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies. This segment also supplies engineered products, including illuminated pushbutton switches and panels for aviation and test systems; microwave and millimeter switches and filters for radio frequency systems and test instrumentation; and motors and resolvers for motion control, as well as provides engineering services for aerospace system design, development, integration, and testing service. The Structural Systems segment designs, engineers, and manufactures complex contoured aerostructure components assemblies and supplies, including composite and metal bonded structures, precision profile extrusions, extruded assemblies, ammunition handling systems, seals, and aerodynamic systems; designs, engineers, and manufactures contoured aluminum, titanium, and Inconel aero structure components; structural assembly products, such as winglets, engine components, fuselage structural panels; aircraft wing spoilers, fuselage skins, rotor blades, flight control surfaces, engine nacelle components, feed and eject chutes, storage magazines, custom gun mounts. It serves commercial aircraft, military fixed-wing aircraft, military and commercial rotary-wing aircraft, and space programs. The company was founded in 1849 and is headquartered in Costa Mesa, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $825M | $3M | $-34M | $-49M | -5.1% | 4.9% | -207.8% |
| 2024 | $787M | $86M | $31M | $20M | 4.6% | 3.9% | 97.7% |
| 2023 | $757M | $70M | $16M | $12M | 2.5% | 6.2% | -44.7% |
| 2022 | $713M | $76M | $29M | $13M | 5.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 712.54 | 756.99 | 786.55 | 824.73 |
| Cost Of Revenue | 568.24 | 593.80 | 589.29 | 603.12 |
| Gross Profit | 144.30 | 163.19 | 197.26 | 221.62 |
| Operating Expense | 98.35 | 119.73 | 138.61 | 144.38 |
| Operating Income | 45.95 | 43.46 | 58.66 | 77.24 |
| EBITDA | 76.31 | 69.72 | 85.65 | 2.52 |
| EBIT | 44.89 | 37.15 | 52.21 | -31.14 |
| Pretax Income | 33.32 | 16.38 | 36.91 | -43.81 |
| Tax Provision | 4.53 | 0.45 | 5.41 | -9.88 |
| Net Income | 28.79 | 15.93 | 31.50 | -33.94 |
| Net Income Common Stockholders | 28.79 | 15.93 | 31.50 | -33.94 |
| Total Expenses | 666.59 | 713.53 | 727.90 | 747.49 |
| Interest Expense | 11.57 | 20.77 | 15.30 | 12.68 |
| Selling General And Administration | 98.35 | 119.73 | 138.61 | 144.38 |
| Normalized EBITDA | 82.77 | 84.27 | 92.09 | 112.64 |
| Normalized Income | 34.36 | 30.06 | 36.99 | 51.41 |
| Basic EPS | 2.38 | 1.16 | 2.13 | -2.27 |
| Diluted EPS | 2.33 | 1.14 | 2.10 | -2.27 |
| Tax Effect Of Unusual Items | -0.88 | -0.41 | -0.95 | -24.78 |
| Tax Rate For Calcs | 0.14 | 0.03 | 0.15 | 0.23 |
| Total Unusual Items | -6.45 | -14.54 | -6.44 | -110.12 |
| Total Unusual Items Excluding Goodwill | -6.45 | -14.54 | -6.44 | -110.12 |
| Net Income From Continuing Operation Net Minority Interest | 28.79 | 15.93 | 31.50 | -33.94 |
| Reconciled Depreciation | 31.42 | 32.57 | 33.44 | 33.66 |
| Reconciled Cost Of Revenue | 568.24 | 593.80 | 589.29 | 603.12 |
| Net Interest Income | -11.57 | -20.77 | -15.30 | -12.68 |
| Net Income From Continuing And Discontinued Operation | 28.79 | 15.93 | 31.50 | -33.94 |
| Total Operating Income As Reported | 39.79 | 28.92 | 52.21 | -32.30 |
| Diluted Average Shares | 12.37 | 13.97 | 15.01 | 14.94 |
| Basic Average Shares | 12.07 | 13.72 | 14.77 | 14.94 |
| Diluted NI Availto Com Stockholders | 28.79 | 15.93 | 31.50 | -33.94 |
| Net Income Including Noncontrolling Interests | 28.79 | 15.93 | 31.50 | -33.94 |
| Net Income Continuous Operations | 28.79 | 15.93 | 31.50 | -33.94 |
| Other Income Expense | -1.05 | -6.31 | -6.44 | -108.38 |
| Other Non Operating Income Expenses | 5.40 | 8.23 | 0 | 1.75 |
| Special Income Charges | -6.45 | -14.54 | -6.44 | -110.12 |
| Gain On Sale Of Ppe | 0 | 0 | 0 | 0 |
| Other Special Charges | 0.29 | 0 | 0 | 107.89 |
| Restructuring And Mergern Acquisition | 6.16 | 14.54 | 6.44 | 2.24 |
| Net Non Operating Interest Income Expense | -11.57 | -20.77 | -15.30 | -12.68 |
| Interest Expense Non Operating | 11.57 | 20.77 | 15.30 | 12.68 |
| Operating Revenue | 712.54 | 756.99 | 786.55 | 824.73 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Ducommun Incorporatedthis co. | DCO | $2.1B | - | 3.12 | -5.1% | 21.40 |
| Eos Energy Enterprises, Inc. | EOSE | $2.2B | - | -0.95 | 43.3% | -15.54 |
| Huron Consulting Group Inc. | HURN | $2.1B | 22.00 | 4.01 | 19.9% | 11.58 |
| Blue Bird Corporation | BLBD | $2.1B | 15.52 | 7.17 | 50.0% | 9.57 |
| Custom Truck One Source, Inc. | CTOS | $2.1B |
| - |
| 2.57 |
| -3.8% |
| 21.79 |
| V2X, Inc. | VVX | $2.1B | 26.78 | 1.89 | 7.2% | 9.34 |
| Cimpress plc | CMPR | $2.0B | 83.08 | -3.74 | -2.7% | 10.51 |
| TriNet Group, Inc. | TNET | $2.0B | 13.39 | 37.59 | 287.0% | 11.36 |
| Thermon Group Holdings, Inc. | THR | $1.9B | 33.51 | 3.62 | 10.8% | 19.03 |
| Peer Median | - | 24.39 | 3.09 | 15.3% | 10.94 | |