DMC Global Inc. BOOM
References made in this Annual Report on Form 10-K to "we", "our", "us", "DMC", "DMC Global" and the "Company" refer to DMC Global Inc. and its consolidated subsidiaries. Unless stated otherwise, all dollar figures in this report are presented in thousands (000s).
DMC Global Inc. ("DMC", "we", "us", "our", or the "Company") operates three manufacturing businesses: Arcadia Products, DynaEnergetics and NobelClad, which provide differentiated products and engineered solutions primarily for the construction, energy, and industrial processing markets. Arcadia Products designs, engineers, fabricates and finishes aluminum framing systems, windows, curtain walls, storefronts, entrance systems, and interior partitions for the commercial construction market. Arcadia Products also supplies customized windows and doors to the high-end residential construction market. DynaEnergetics is a vertically integrated, global manufacturer of advanced perforating systems used in oil and gas well completion and well plug-and-abandonment operations. DynaEnergetics designs, engineers, manufactures, and qualifies its perforating components and systems in-house. NobelClad produces explosion-welded clad metal plates for use in the construction of corrosion-resistant industrial processing equipment. NobelClad also produces specialized transition joints for a broad range of applications, including aluminum smelting, ship construction, and liquified natural gas ("LNG") processing equipment.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $609.8M | $642.9M | $719.2M | $654.1M | $260.1M | $229.2M | $397.6M | $326.4M | $192.8M | $158.6M |
| Cost of revenue | $474.6M | $492.3M | $507.1M | $468.6M | $200.6M | $172.3M | $252.6M | $215.7M | $133.4M | $119.9M |
| Gross profit | $135.3M | $150.6M | $212.1M | $185.4M | $59.5M | $56.9M | $144.9M | $110.7M | $59.4M | $38.7M |
| R&D | $5.0M | $5.8M | $6.9M | $6.8M | $7.2M | $7.9M | $8.4M | $7.2M | $5.2M | $4.6M |
| SG&A | $61.3M | $61.4M | $75.3M | $76.1M | $36.3M | $29.1M | $38.0M | $38.5M | $27.1M | $22.1M |
| Total operating expenses | $135.4M | $281.8M | $150.9M | $155.5M | $61.9M | $57.8M | $86.5M | $73.3M | $71.7M | $44.0M |
| Operating income | -$110.0K | -$131.3M | $61.2M | $30.0M | -$2.4M | -$996.0K | $58.4M | $37.4M | -$12.3M | -$5.3M |
| Interest expense | $6.5M | $8.7M | $9.5M | $6.2M | $304.0K | $731.0K | $1.6M | $1.6M | $1.6M | $1.1M |
| Pre-tax income | -$7.7M | -$141.0M | $49.9M | $23.2M | -$2.6M | -$2.0M | $56.7M | $34.6M | -$15.3M | -$5.7M |
| Income tax | $4.1M | $11.0M | $15.1M | $9.4M | $1.5M | $548.0K | $22.7M | $4.1M | $3.6M | $797.0K |
| Net income | -$13.5M | -$94.5M | $26.3M | $12.2M | -$202.0K | -$1.4M | $34.0M | $30.5M | -$18.9M | -$6.5M |
| EPS, basic | -0.90 | -8.20 | 1.08 | 0.72 | -0.26 | -0.10 | 2.29 | 2.05 | -1.31 | -0.46 |
| EPS, diluted | -0.90 | -8.20 | 1.08 | 0.72 | -0.26 | -0.10 | 2.28 | 2.04 | -1.31 | -0.46 |
| Shares, diluted (wtd. avg.) | $19.9M | $19.7M | $19.5M | $19.4M | $17.6M | $14.8M | $14.7M | $14.6M | $14.3M | $14.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $31.9M | $14.3M | $31.0M | $25.1M | $30.8M | $28.2M | $20.4M | $13.4M | $9.0M | $6.4M |
| Short-term investments | — | $0 | $12.6M | $0 | $0 | $25.7M | $0 | — | — | — |
| Receivables | $93.7M | $103.4M | $106.2M | $94.4M | $71.9M | $31.4M | $60.9M | $59.7M | $49.5M | $33.0M |
| Inventory | $144.6M | $152.6M | $166.7M | $156.6M | $124.2M | $52.6M | $53.7M | $51.1M | $35.7M | $28.8M |
| Total current assets | $286.4M | $289.0M | $326.8M | $286.9M | $239.2M | $143.3M | $144.4M | $132.2M | $100.0M | $73.4M |
| Property, plant and equipment | $127.4M | $129.3M | $129.3M | $129.4M | $122.1M | $109.4M | $108.2M | $95.1M | $59.9M | $57.1M |
| Goodwill | — | $0 | $141.7M | $141.7M | $141.3M | $0 | — | — | $0 | $16.1M |
| Other intangibles | $155.1M | $174.1M | $195.3M | $217.9M | $255.6M | $3.7M | $5.9M | $8.6M | $12.9M | $15.8M |
| Total assets | $635.8M | $671.3M | $884.5M | $879.0M | $864.4M | $279.6M | $277.4M | $240.4M | $173.1M | $162.6M |
| Accounts payable | $48.2M | $45.1M | $40.2M | $46.8M | $40.3M | $17.6M | $34.8M | $24.2M | $19.8M | $13.3M |
| Short-term debt | $3.4M | $2.5M | $15.0M | $15.0M | $15.0M | $3.1M | $3.1M | $3.1M | $0 | — |
| Total current liabilities | $114.3M | $114.1M | $126.5M | $128.1M | $105.8M | $47.1M | $71.4M | $64.6M | $45.6M | $30.7M |
| Long-term debt | $47.2M | $68.3M | $100.9M | $117.8M | $132.4M | $8.1M | $11.1M | $38.2M | $18.0M | — |
| Total liabilities | $206.7M | $233.3M | $286.4M | $310.8M | $306.7M | $82.7M | $105.3M | $106.1M | $67.3M | $50.1M |
| Retained earnings | -$13.5M | $0 | $146.6M | $125.2M | $111.0M | $115.7M | $119.0M | $89.3M | $60.1M | $80.1M |
| Total equity | $242.1M | $251.0M | $410.3M | $380.6M | $360.5M | $196.9M | $172.1M | $134.3M | $105.8M | $112.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $53.5M | $46.6M | $65.9M | $44.9M | -$12.8M | $30.4M | $64.6M | $27.6M | $6.7M | $18.2M |
| Depreciation and amortisation | $34.0M | $35.0M | $36.5M | $51.2M | $12.7M | $11.1M | $9.9M | $9.5M | $10.6M | $6.8M |
| Stock-based compensation | $5.5M | $6.9M | $10.3M | $10.1M | $6.6M | $5.7M | $5.2M | $3.6M | $3.0M | $2.3M |
| Capital expenditure | $16.5M | $17.3M | $16.0M | $18.6M | $8.7M | $13.9M | $27.2M | $45.1M | $6.2M | $5.7M |
| Investing cash flow | -$6.6M | -$3.6M | -$28.1M | -$20.9M | -$267.8M | -$39.6M | -$25.9M | -$45.1M | -$6.2M | -$5.7M |
| Financing cash flow | -$28.7M | -$59.8M | -$33.2M | -$28.5M | $282.6M | $17.3M | -$30.6M | $21.9M | $647.0K | -$12.1M |
| Dividends paid | $0 | $2.5M | $0 | $0 | $0 | $3.7M | $2.8M | $1.2M | $1.2M | $1.1M |
| Buybacks | $1.2M | $1.2M | $2.5M | $1.2M | $2.5M | $1.9M | $1.1M | $453.0K | $337.0K | $25.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000034067-26-000009.