Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Constructive evidenceCoverage 5/5 core metricsLatest reported annual revenue changed -1.5% from the prior reported annual observation.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Revenue was broadly stable
Latest reported annual revenue changed -1.5% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Operating margin was stable
Operating margin changed -0.7 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- No current rule-based risk flags
11 filing-based checks were evaluable.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Free cash flow was positive
Latest reported free cash flow was $147M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Industrial Equipment Segment$950M59.2%+12.6% yoy
- Vegetation Management Segment$654M40.8%-16.7% yoy
Members sum to the consolidated $1.6B for this period.
- Industrial Equipment Segment$129M84.9%+18.8% yoy
- Vegetation Management Segment$23M15.1%-59.4% yoy
Members sum to the consolidated $152M for this period.
- Wholegood Units$1.28B79.6%-0.8% yoy
- Parts$262M16.3%-6.2% yoy
- Other Revenue$65M4.1%+5.1% yoy
Members sum to the consolidated $1.6B for this period.
- United States$1.15Bshare n/a+0.1% yoy
- Outside the United States$478Mshare n/a-1.3% yoy
- Canada$149Mshare n/a-0.2% yoy
- France$86.2Mshare n/a-3.9% yoy
- United Kingdom$83.7Mshare n/a+4.4% yoy
- Other Geographical Areas$58.9Mshare n/a+1.6% yoy
- Brazil$33Mshare n/a-17.2% yoy
- Netherlands$20.2Mshare n/a-43.2% yoy
- +2 more members in the filing
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Outside the United States$59.5M100.0%-10.2% yoy
Members sum to $59.5M against $152M consolidated (residual $92.1M) - eliminations or corporate lines the filer did not tag on this axis.
- Industrial Equipment Segment$242M57.9%+6.5% yoy
- Vegetation Management Segment$175M42.1%+7.0% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,122 US-listed filers · 817 in Technology| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $1.6B | 63rdof 3,301 middle third | 65thof 778 middle third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | -1.5% | 25thof 3,135 bottom third | 22ndof 743 bottom third |
Gross margin gross profit ÷ revenue | 24.8% | 28thof 1,603 bottom third | 19thof 555 bottom third |
Operating margin operating income ÷ revenue | 9.4% | 67thof 2,819 top third | 67thof 752 top third |
Net margin net income ÷ revenue | 6.5% | 62ndof 3,263 middle third | 64thof 770 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 9.2% | 64thof 2,679 middle third | 52ndof 701 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 9.0% | 63rdof 3,577 middle third | 61stof 720 middle third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 0.6% | 80thof 2,895 top third | 89thof 729 top third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 63 days | 33rdof 2,398 middle third | 48thof 712 middle third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 1.7× | 58thof 2,183 middle third | 54thof 417 middle third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -4.8% | 51stof 3,577 middle third | 37thof 722 middle third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 2.2% | 55thof 3,059 middle third | 53rdof 634 middle third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 7 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Net income NetIncomeLoss | fiscal year 2020-12-31 | $56.6M 10-K 2021-02-26 | $57.8M 10-K 2023-02-23 | +2.1% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | fiscal year 2020-12-31 | $93.2M 10-K 2021-02-26 | $94.8M 10-K 2023-02-23 | +1.7% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2020-12-31 | $626M 10-K 2021-02-26 | $635M 10-K 2024-02-22 | +1.5% | first · latest · 10 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-03-31 | $642M 10-Q 2021-05-06 | $651M 10-Q 2022-11-03 | +1.5% | first · latest · 6 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-06-30 | $672M 10-Q 2021-08-04 | $681M 10-Q 2022-11-03 | +1.4% | first · latest · 4 filings carry it |
| Total assets Assets | balance at 2020-12-31 | $1.11B 10-K 2021-02-26 | $1.12B 10-K 2022-02-24 | +1.1% | first · latest · 5 filings carry it |
| Gross profit GrossProfit | fiscal year 2020-12-31 | $292M 10-K 2021-02-26 | $294M 10-K 2023-02-23 | +0.6% | first · latest · 3 filings carry it |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
debt, leases, revenue, segments, contingencies, taxes and more · the filer's own wordsBusiness combinations · 609 characters as filed
Business Combinations On June 30, 2025, the Company acquired 100% of the outstanding membership interests in Ring-O-Matic, LLC (Ring-O-Matic) for approximately $17.6 million. Ring-O-Matic is a leading provider of trailer-mounted industrial vacuum excavation equipment. The purpose of the acquisition was to expand our current product offerings and to achieve cost and revenue synergies within our Industrial Equipment division. The Company has included the opening balance sheet for Ring-O-Matic in its consolidated financial statements; however, the impact to the consolidated balance sheet was immaterial. …
BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing
Debt · 555 characters as filed
Debt The components of long-term debt are as follows: (in thousands) September 30, 2025 December 31, 2024 Bank revolving credit facility $ $ Term debt 209,430 220,475 Finance lease obligations 6 Total debt 209,430 220,481 Less current maturities 15,000 15,008 Total long-term debt $ 194,430 $ 205,473 As of September 30, 2025, $2.8 million of the revolver capacity was committed to irrevocable standby letters of credit issued in the ordinary course of business as required by vendors' contracts, resulting in $397.2 million in available borrowings. …
DebtDisclosureTextBlock · excerpt; the full note is in the filing
Revenue disaggregation · 1,182 characters as filed
Disaggregation of revenue is presented in the tables below by product type and by geographical location. Management has determined that this level of disaggregation would be beneficial to users of the financial statements. Revenue by Product Type Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2025 2024 2025 2024 Net Sales Wholegoods $ 331,615 $ 307,401 $ 983,850 $ 979,099 Parts 75,677 75,525 200,097 216,605 Other 12,750 18,375 46,118 47,486 Consolidated $ 420,042 $ 401,301 $ 1,230,065 $ 1,243,190 Other includes rental sales, extended warranty sales and service sales as they are considered immaterial. Revenue by Geographical Location Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2025 2024 2025 2024 Net Sales United States $ 298,482 $ 292,242 $ 881,302 $ 881,231 Canada 41,055 32,448 112,977 102,126 France 20,028 17,894 63,990 67,259 United Kingdom 22,858 21,355 65,559 65,733 Brazil 8,060 8,225 27,952 31,749 Netherlands 5,096 7,798 16,058 28,994 Australia 4,169 5,330 13,120 16,889 Germany 2,275 1,688 5,777 6,864 Other 18,019 14,321 43,330 42,345 Consolidated $ 420,042 $ 401,301 $ 1,230,065 $ 1,243,190
DisaggregationOfRevenueTableTextBlock
Fair value · 2,153 characters as filed
"Fair Value Measurements The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximate their fair value because of the short-term nature of these items. The carrying value of our debt approximates the fair value as of September 30, 2025 and December 31, 2024. This conclusion was made based on Level 2 inputs. Fair values determined by Level 2 utilize inputs that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Derivative Instruments and Hedging Activities The Company records all derivatives in accordance with ASC 815, Derivatives and Hedging, which requires derivative instruments to be reported on the condensed consolidated balance sheets at fair value and establishes criteria for designation and effectiveness of hedging relationships. The Company is exposed to market risk such as changes in foreign currencies and interest rates. The Company does not hold or issue derivative financial instruments for trading purposes. The Company may periodically utilize derivative instruments such as foreign currency or interest rate swaps in the normal course of business to partially offset exposure. The related gains and losses are reported as a component of accumulated other comprehensive lo …
FairValueDisclosuresTextBlock · excerpt; the full note is in the filing
Goodwill and intangibles · 1,325 characters as filed
Goodwill and Intangible Assets The following is the summary of changes to the Company's Goodwill for the nine months ended September 30, 2025: (in thousands) Vegetation Management Industrial Equipment Consolidated Balance at December 31, 2024 $ 126,729 $ 76,298 $ 203,027 Translation adjustment 2,981 1,472 4,453 Goodwill acquired 6,949 6,949 Balance at September 30, 2025 $ 129,710 $ 84,719 $ 214,429 The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives September 30, 2025 December 31, 2024 Definite: Trade names and trademarks 15-25 years $ 77,480 $ 72,040 Customer and dealer relationships 8-15 years 140,517 137,086 Patents and drawings 3-12 years 29,002 28,529 Favorable leasehold interests 7 years 4,200 4,200 Noncompetition agreements 5 years 200 200 Total at cost 251,399 242,055 Less accumulated amortization (109,577) (96,195) Total net 141,822 145,860 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 147,322 $ 151,360 The Company recognized amortization expense of $4.2 million and $4.1 million for the three months ended September 30, 2025 and 2024, respectively, and $12.3 million and $12.2 million for the nine months ended September 30, 2025 and 2024, respectively. …
GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing
Leases · 2,058 characters as filed
Leases The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The finance leases currently held are considered immaterial. The components of lease cost were as follows: Components of Lease Cost Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2025 2024 2025 2024 Finance lease cost: Amortization of right-of-use assets $ 2 $ 2 $ 6 $ 6 Operating lease cost 1,894 1,859 5,721 5,323 Short-term lease cost 497 885 1,473 1,755 Variable lease cost 53 57 161 208 Total lease cost $ 2,446 $ 2,803 $ 7,361 $ 7,292 Maturities of operating lease liabilities were as follows: Future Minimum Lease Payments (in thousands) September 30, 2025 December 31, 2024 2025 $ 1,896 * $ 6,998 2026 6,540 5,719 2027 4,222 3,595 2028 1,989 1,556 2029 1,340 927 Thereafter 1,114 914 Total minimum lease payments $ 17,101 $ 19,709 Less imputed interest (1,158) (1,432) Total operating lease liabilities $ 15,943 $ 18,277 *Period ended September 30, 2025 represents the remaining three months of 2025. Future Lease Commencements As of September 30, 2025, there are additional operating leases, primarily for buildings, that have not yet commenced in the amount of $5.9 million. These operating leases will commence in fiscal year 2025 and 2026 with lease terms of 1 to 7 years. Supplemental balance sheet information related to leases was as follows: Operating Leases (in thousands) Septembe …
LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing
New accounting pronouncements · 1,019 characters as filed
Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entitys effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. This ASU will result in the required additional disclosures being included in our consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03, Expense Disaggregation Disclosures (Subtopic 220-40). The ASU requires disaggregated Income Statement Expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is also permitted. This ASU will result in the required additional disclosures being included in our consolidated financial statements, once adopted. …
NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing
Segment reporting · 4,293 characters as filed
Revenue and Segment Information Revenues from Contracts with Customers Disaggregation of revenue is presented in the tables below by product type and by geographical location. Management has determined that this level of disaggregation would be beneficial to users of the financial statements. Revenue by Product Type Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2025 2024 2025 2024 Net Sales Wholegoods $ 331,615 $ 307,401 $ 983,850 $ 979,099 Parts 75,677 75,525 200,097 216,605 Other 12,750 18,375 46,118 47,486 Consolidated $ 420,042 $ 401,301 $ 1,230,065 $ 1,243,190 Other includes rental sales, extended warranty sales and service sales as they are considered immaterial. Revenue by Geographical Location Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2025 2024 2025 2024 Net Sales United States $ 298,482 $ 292,242 $ 881,302 $ 881,231 Canada 41,055 32,448 112,977 102,126 France 20,028 17,894 63,990 67,259 United Kingdom 22,858 21,355 65,559 65,733 Brazil 8,060 8,225 27,952 31,749 Netherlands 5,096 7,798 16,058 28,994 Australia 4,169 5,330 13,120 16,889 Germany 2,275 1,688 5,777 6,864 Other 18,019 14,321 43,330 42,345 Consolidated $ 420,042 $ 401,301 $ 1,230,065 $ 1,243,190 Net sales are attributed to countries based on the location of the customer. Segment Information The Companys Chief Operating Decision Maker (CODM) is the Chief Executive Officer. The CODM is responsible for evaluating the performance of the Comp …
SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing
Stockholders' equity · 504 characters as filed
Common Stock and Dividends Dividends declared and paid on a per share basis were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Dividends declared $ 0.30 $ 0.26 $ 0.90 $ 0.78 Dividends paid $ 0.30 $ 0.26 $ 0.90 $ 0.78 On October 1, 2025, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.30 per share, which was paid on October 28, 2025, to shareholders of record at the close of business on October 15, 2025.
StockholdersEquityNoteDisclosureTextBlock
Source: SEC DERA Financial Statement and Notes data sets (txt.tsv), excerpts of the filer's own note text; the full note is in the linked filing. Excerpts are the first part of each note exactly as tagged in the filing; open the filing for the full text and the tables. Descriptive and educational, not advice.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.