Ducommun Inc Stock Research

Market Summary

USD40.96+0.20

Market Closed

0.49%

DCO Alerts

Big fall in earnings (Y/Y)

DCO Stock Price

DCO RSI Chart

DCO Valuation

Market Cap

501.0M

Price/Earnings (Trailing)

19.33

Price/Sales (Trailing)

0.69

EV/EBITDA

14.54

Price/Free Cashflow

40.48

DCO Price/Sales (Trailing)

DCO Profitability

EBT Margin

4.68%

Return on Equity

5.47%

Return on Assets

2.82%

Free Cashflow Yield

2.47%

DCO Fundamentals

DCO Revenue

Revenue (TTM)

730.2M

Revenue Y/Y

10.83%

Revenue Q/Q

-3.76%

DCO Earnings

Earnings (TTM)

25.9M

Earnings Y/Y

-35.41%

Earnings Q/Q

-35.27%

Price Action

52 Week Range

38.8958.28

(Low)(High)

Last 7 days

-1.0%

Last 30 days

-21.9%

Last 90 days

-26.6%

Trailing 12 Months

-10.3%

DCO Financial Health

Current Ratio

2.64

Debt/Equity

0.46

Debt/Cashflow

0.14

DCO Investor Care

Shares Dilution (1Y)

1.65%

Diluted EPS (TTM)

2.1

Peers (Alternatives to Ducommun)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
RTX	139.8B	68.6B	-8.16%	-2.00%	31.33	2.12	5.73%	32.04%
BA	123.5B	70.5B	0.90%	56.54%	-29.91	1.75	15.52%	15.44%
GD	63.0B	39.9B	-6.40%	-8.18%	18.58	1.6	3.70%	3.39%
TDG	44.2B	5.9B	0.58%	27.80%	42.64	7.49	17.52%	16.67%
TXT	12.5B	12.9B	-7.73%	-5.24%	14.55	0.97	3.10%	11.85%
MID-CAP
HEI	21.1B	2.5B	-9.49%	8.06%	55.9	8.49	23.76%	12.84%
HII	8.0B	10.8B	-0.39%	-3.32%	14.15	0.75	9.69%	5.97%
BWXT	5.9B	2.3B	-6.74%	18.74%	24.58	2.62	6.77%	-18.59%
SPR	2.4B	5.3B	-9.71%	-15.37%	-5.96	0.54	25.06%	-83.44%
AVAV	2.4B	487.1M	-8.12%	1.58%	-278.23	4.84	8.46%	-1895.76%
SMALL-CAP
TGI	732.2M	1.4B	3.32%	-26.86%	8.17	0.53	-5.54%	309.54%
DCO	501.0M	730.2M	-21.91%	-10.27%	19.33	0.69	12.05%	-81.07%
ATRO	292.4M	575.3M	6.28%	51.43%	-14.86	0.62	26.37%	-121.00%
CVU	44.8M	85.2M	10.15%	49.79%	4.4	0.53	-8.06%	83.49%
AIRI	11.5M	53.2M	-7.35%	-50.97%	-10.66	0.22	-9.67%	-166.13%

Financials for Ducommun

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	2.5%	730	713	689	666	652
Gross Profit	3.0%	149	144	143	140	142
S&GA Expenses	2.9%	101	98.00	98.00	95.00	94.00
EBITDA	-71.4%	53.00	186	187	191	-
EBITDA Margin	-72.4%	0.07*	0.27*	0.28*	0.29*	-
Earnings Before Taxes	-11.0%	30.00	33.00	166	167	172
EBT Margin	-80.6%	0.05*	0.24*	0.25*	0.26*	-
Interest Expenses	-7.0%	-11.57	-10.81	-10.58	-10.78	-
Net Income	-10.0%	26.00	29.00	132	133	137
Net Income Margin	-78.8%	0.04*	0.19*	0.20*	0.21*	-
Free Cahsflow	260.5%	13.00	-8.09	5.00	-13.21	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-1.5%	1,006	1,022	990	979	959
Current Assets	-2.3%	515	527	499	485	466
Cash Equivalents	-63.0%	17.00	46.00	21.00	38.00	19.00
Inventory	13.3%	194	171	172	164	160
Net PPE	0.8%	107	106	106	105	104
Goodwill	0%	203	203	203	203	204
Liabilities	-3.6%	478	496	481	483	472
Current Liabilities	-9.1%	181	199	181	174	159
Long Term Debt	-0.6%	239	241	242	246	248
LT Debt, Non Current	-1.4%	244	247	249	-	-
Shareholder's Equity	0.5%	528	526	509	497	488
Retained Earnings	1.3%	411	406	398	390	385
Additional Paid-In Capital	-0.6%	111	112	110	106	104
Accumulated Depreciation	2.2%	179	175	172	-	-
Shares Outstanding	1.0%	12.00	12.00	12.00	12.00	12.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-0.2%	33.00	33.00	12.00	23.00	4.00
Share Based Compensation	13.9%	12.00	11.00	11.00	11.00	10.00
Cashflow From Investing	-3.1%	-19.83	-19.24	54.00	56.00	58.00
Cashflow From Financing	65.7%	-14.92	-43.51	-53.67	-53.79	-59.17
Buy Backs	43.4%	11.00	7.00	9.00	9.00	9.00

Risks for DCO

What is the probability of a big loss on DCO?

70.4%

Probability that Ducommun stock will be more than 20% underwater in next one year

27.7%

Probability that Ducommun stock will be more than 30% underwater in next one year.

19.6%

Probability that Ducommun stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does DCO drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Ducommun was unfortunately bought at previous high price.

Drawdowns

Returns for DCO

Cumulative Returns on DCO

7.7%

10-Year Cumulative Returns

13.2%

7-Year Cumulative Returns

3.4%

5-Year Cumulative Returns

8.4%

3-Year Cumulative Returns

What are the long-term rolling returns for DCO?

FIve years rolling returns for Ducommun.

Annualized Returns

Which funds bought or sold DCO recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-23	ROYCE & ASSOCIATES LP	reduced	-6.98	322,539	17,640,500	0.18%
2023-05-18	JPMORGAN CHASE & CO	added	17.56	108,000	482,000	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	added	55.81	289,000	698,000	-%
2023-05-16	Meros Investment Management, LP	reduced	-0.65	772,484	9,555,480	5.44%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	new	-	401,845	401,845	-%
2023-05-16	SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC	reduced	-10.39	-6,426	336,849	0.01%
2023-05-16	MERCER GLOBAL ADVISORS INC /ADV	reduced	-18.95	-28,000	222,000	-%
2023-05-16	Penn Capital Management Company, LLC	sold off	-100	-1,227,720	-	-%
2023-05-15	Metropolitan Life Insurance Co/NY	unchanged	-	3,045	35,069	-%
2023-05-15	MetLife Investment Management, LLC	unchanged	-	27,284	314,254	-%

Latest Funds Activity

Are funds buying DCO calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own DCO

No. of Funds

DCO Alerts

Big fall in earnings (Y/Y)

Ducommun News

Schedule 13G FIlings of Ducommun

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 22, 2023	blackrock inc.	7.4%	896,215	SC 13G/A
Feb 13, 2023	paradigm capital management inc/ny	5.87%	710,615	SC 13G/A
Feb 09, 2023	william blair investment management, llc	4.6%	554,348	SC 13G/A
Jan 31, 2023	blackrock inc.	7.4%	896,215	SC 13G/A
Feb 14, 2022	rbc global asset management inc.	3.75%	446,989	SC 13G/A
Feb 10, 2022	william blair investment management, llc	7.6%	902,219	SC 13G/A
Feb 08, 2022	dimensional fund advisors lp	7.5%	897,608	SC 13G/A
Feb 07, 2022	paradigm capital management inc/ny	5.99%	714,681	SC 13G/A
Feb 01, 2022	blackrock inc.	6.8%	810,275	SC 13G/A
Feb 12, 2021	dimensional fund advisors lp	8.1%	947,896	SC 13G/A

DCO Fair Value

Show Fair-Value

Recent SEC filings of Ducommun

View All Filings

Date Filed	Form Type	Document
May 25, 2023	SD	SD
May 19, 2023	4	Insider Trading
May 19, 2023	4	Insider Trading
May 19, 2023	4	Insider Trading
May 19, 2023	4	Insider Trading
May 18, 2023	8-K	Current Report
May 17, 2023	424B5	Prospectus Filed
May 15, 2023	424B5	Prospectus Filed
May 09, 2023	4	Insider Trading
May 09, 2023	4	Insider Trading

Latest Insider Trading transactions for DCO

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-18	Drazba Shirley	acquired	48,000	40.00	1,200	-
2023-05-18	DUCOMMUN ROBERT C	acquired	160,000	40.00	4,000	-
2023-05-18	FLATT DEAN M	acquired	136,000	40.00	3,400	-
2023-05-18	Kramer Sheila G.	acquired	40,000	40.00	1,000	-
2023-05-08	Redondo Jerry L	acquired	-	-	4,519	sr. vice president, operations
2023-05-08	Oswald Stephen G	acquired	-	-	15,400	chairman, president & ceo
2023-05-08	Gonzalez Laureen S.	acquired	-	-	1,886	vp & chief hr officer
2023-05-08	Mookerji Suman B.	acquired	-	-	6,985	sr. v.p., c.f.o.
2023-05-08	Tata Rajiv A.	acquired	-	-	3,720	v.p., general counsel
2023-05-05	Tata Rajiv A.	sold (taxes)	-33,400	48.76	-685	v.p., general counsel

About Ducommun

Stephen G. Oswald

www.ducommun.com

2480

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 and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; higher-level electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies. It 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. In addition, this segment provides engineering expertise for aerospace system design, development, integration, and testing. The Structural Systems segment designs, engineers, and manufactures contoured aluminum, titanium, and Inconel aero structure components; structural assembly products, such as winglets, engine components, and fuselage structural panels; and metal and composite bonded structures and assemblies comprising aircraft wing spoilers, large fuselage skins, rotor blades on rotary-wing aircraft and components, flight control surfaces, engine components, ammunition handling systems, and magnetic seals. It serves commercial aircraft, military fixed-wing aircraft, military and commercial rotary-wing aircraft, and space programs, as well as industrial, medical, and other end-use markets. The company was founded in 1849 and is headquartered in Santa Ana, California.

DCO Income Statement

2023-04-01

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Income Statement [Abstract]
Net Revenues	$ 181,191	$ 163,481
Cost of Sales	144,424	131,006
Gross Profit	36,767	32,475
Selling, General and Administrative Expenses	26,225	23,352
Restructuring Charges	4,170	0
Operating Income	6,372	9,123
Interest Expense	(4,219)	(2,402)
Other Income	3,886	3,000
Income Before Taxes	6,039	9,721
Income Tax Expense	808	1,622
Net Income	$ 5,231	$ 8,099
Earnings Per Share
Basic earnings per share (in dollars per share)	$ 0.43	$ 0.68
Diluted earnings per share (in dollars per share)	$ 0.42	$ 0.66
Weighted-Average Number of Common Shares Outstanding
Basic (in shares)	12,195	11,989
Diluted (in shares)	12,538	12,328

DCO Balance Sheet

2023-04-01

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 17,115	$ 46,246
Accounts receivable, net of allowance for credit losses of $905 and $589 at April 1, 2023 and December 31, 2022, respectively	95,774	103,958
Contract assets	194,316	191,290
Inventories	193,999	171,211
Production cost of contracts	5,368	5,693
Other current assets	8,803	8,938
Total Current Assets	515,375	527,336
Property and Equipment, Net of Accumulated Depreciation of $175,670 and $171,507 at April 1, 2023 and December 31, 2022, respectively	107,038	106,225
Operating Lease Right-of-Use Assets	37,204	34,632
Goodwill	203,407	203,407
Intangibles, Net	123,576	127,201
Other Assets	19,478	22,705
Total Assets	1,006,078	1,021,506
Current Liabilities
Accounts payable	98,879	90,143
Contract liabilities	39,682	47,068
Accrued and other liabilities	28,800	48,820
Operating lease liabilities	7,745	7,155
Current portion of long-term debt	6,250	6,250
Total Current Liabilities	181,356	199,436
Long-Term Debt, Less Current Portion	239,128	240,595
Non-Current Operating Lease Liabilities	30,831	28,841
Deferred Income Taxes	12,250	13,953
Other Long-Term Liabilities	14,129	12,721
Total Liabilities	477,694	495,546
Commitments and Contingencies (Notes 8, 10)
Shareholders’ Equity
Common Stock - $0.01 par value; 35,000,000 shares authorized; 12,231,704 and 12,106,285 shares issued and outstanding at April 1, 2023 and December 31, 2022, respectively	122	121
Additional Paid-In Capital	111,322	112,042
Retained Earnings	411,283	406,052
Accumulated Other Comprehensive Income	5,657	7,745
Total Shareholders’ Equity	528,384	525,960
Total Liabilities and Shareholders’ Equity	$ 1,006,078	$ 1,021,506