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DORM

Dorman Products, Inc.

DORM

Dorman Products, Inc. • NASDAQ
$132.27 ▼ -1.53% (-2.05)
Market Cap $4.04 B
52w High $166.89
52w Low $106.95
Dividend Yield 0%
P/E 16.47
Volume 80.77K
Outstanding Shares 30.56M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $543.736M ▲ $135.677M ▼ $76.42M ▲ 14.055% ▲ $2.5 ▲ $121.171M ▲
Q2-2025 $540.959M ▲ $137.032M ▲ $58.709M ▲ 10.853% ▼ $1.92 ▲ $97.944M ▲
Q1-2025 $507.692M ▼ $127.634M ▼ $57.505M ▲ 11.327% ▲ $1.88 ▲ $95.278M ▼
Q4-2024 $533.772M ▲ $134.961M ▲ $54.513M ▼ 10.213% ▼ $1.78 ▼ $101.792M ▲
Q3-2024 $503.773M $124.532M $55.253M 10.968% $1.81 $95.698M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $57.137M ▲ $2.425B ▼ $1.131B ▲ $1.293B ▼
Q2-2025 $56.845M ▼ $2.471B ▲ $1.072B ▼ $1.4B ▲
Q1-2025 $60.612M ▲ $2.428B ▲ $1.09B ▼ $1.337B ▲
Q4-2024 $57.137M ▲ $2.425B ▲ $1.131B ▲ $1.293B ▲
Q3-2024 $45.127M $2.364B $1.129B $1.235B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $76.42M ▲ $12.205M ▲ $-10.383M ▼ $-3.124M ▲ $-1.34M ▲ $1.822M ▲
Q2-2025 $58.709M ▲ $8.548M ▼ $-8.45M ▲ $-4.036M ▲ $-3.767M ▼ $98K ▼
Q1-2025 $57.505M ▲ $51.237M ▼ $-10.985M ▼ $-36.81M ▲ $3.475M ▼ $40.252M ▼
Q4-2024 $54.513M ▼ $71.425M ▲ $-8.076M ▲ $-50.946M ▼ $12.01M ▲ $63.249M ▲
Q3-2024 $55.253M $44.293M $-8.555M $-38.105M $-2.34M $35.738M

Revenue by Products

Product Q4-2022Q1-2023Q2-2023Q3-2023
Chassis
Chassis
 $200.00M ▲$190.00M ▼$190.00M ▲$180.00M ▼
Hardware
Hardware
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲
Powertrain
Powertrain
 $180.00M ▲$170.00M ▼$180.00M ▲$190.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Dorman has grown its sales steadily over the past five years, showing that demand for its aftermarket parts has held up well through different economic conditions. Profitability has generally improved as the business scaled, with operating and EBITDA margins trending higher, especially in the most recent year. Net earnings and earnings per share have moved upward over time, with a noticeable step-up in the latest year, suggesting better cost control, improved mix, or efficiency gains. The one soft spot in the record is that profit growth has not been perfectly smooth year to year, which hints at some sensitivity to input costs, supply chain issues, or integration of acquisitions—but the overall direction is clearly positive.

Balance Sheet

Balance Sheet The balance sheet shows a company that has grown significantly, with total assets and shareholder equity steadily rising. Debt levels increased meaningfully over the period, likely to fund growth or acquisitions, but have started to come down more recently, which is a constructive sign. Cash on hand is relatively modest, implying reliance on ongoing cash generation and bank facilities rather than a large cash cushion. Overall, the capital structure looks more leveraged than it was several years ago, but still appears balanced by the growth in equity and the company’s ability to generate profits.

Cash Flow

Cash Flow Cash generation has been consistently positive, with operating cash flow improving in the last couple of years after a weaker period in the middle of the timeframe, likely tied to working capital swings such as inventory builds. Free cash flow has generally tracked operating cash flow closely because the business is not very capital intensive; investment in equipment and facilities has been steady and manageable. The dip in free cash flow a few years ago looks more like a temporary working capital issue than a structural problem, given the recovery since then. Recent years suggest healthier cash conversion and better discipline in managing inventory and receivables.

Competitive Edge

Competitive Edge Dorman holds a strong position in the automotive aftermarket by focusing on solving recurring problems that repair shops face, rather than just copying original parts. Its large and expanding catalog, strong relationships with major distributors and retailers, and trusted brand among professional technicians give it meaningful scale and reach. The company’s habit of improving on original designs, combined with control over its tooling and designs, helps defend it from direct imitation. Risks include exposure to the broader auto cycle, pricing pressure from competitors, and the need to keep up with rapidly changing vehicle technology, but its established niche and reputation offer a solid foundation.

Innovation and R&D

Innovation and R&D Innovation is at the core of Dorman’s strategy. The “OE FIX” concept—re-engineering parts to be more durable, easier to install, or cheaper to repair than the original—is a clear differentiator and creates ongoing opportunities for new products. Dorman systematically gathers feedback from technicians to identify common failures and then designs targeted fixes, which functions as a continuous product-development engine. The company is also leaning into more complex areas such as electronics, remanufactured components, and emerging needs in hybrid and electric vehicles, while investing in automation and robotics in its distribution network to improve efficiency. This combination of product and operational innovation positions it well for the gradual shift in the vehicle fleet.

Summary

Dorman looks like a steadily growing aftermarket auto-parts business that has turned scale and innovation into better profitability over time. Its balance sheet shows expanded use of debt to support growth, but also a clear trend of rising equity and recent steps to reduce leverage. Cash flow patterns point to a business that can reliably fund itself, with occasional bumps when inventory or working capital needs rise. Competitively, its problem-solving mindset, broad catalog, and strong distribution relationships give it a defensible niche, though it must keep adapting as vehicles become more electronic and the mix slowly shifts toward hybrids and EVs. Overall, the company appears to pair solid financial progress with an innovation-driven strategy that is aligned with long-term trends in the aftermarket, while still facing the usual industry risks around cycles, costs, and technology change.

NEWS

October 27, 2025 · 4:01 PM UTC

Dorman Products, Inc. Reports Third Quarter 2025 Results

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October 6, 2025 · 4:01 PM UTC

Dorman Products, Inc. Announces Date to Report Third Quarter 2025 Financial Results

Read more