Business Description
Alamo Group Inc. is a global manufacturer of heavy-duty equipment for infrastructure maintenance, agriculture, and other industrial applications. Headquartered in Seguin, Texas, the company produces a wide range of purpose-built machinery, including vegetation management tools, street sweepers, and vacuum trucks. It primarily serves governmental agencies, contractors, and agricultural operators across North America, Europe, Australia, and Brazil.
Financial Statements
In thousands, USD
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Total Revenues | 1,603,715 | 1,628,513 | 1,689,651 | 1,513,616 |
| Cost of Sales | 1,205,898 | 1,216,025 | 1,236,007 | 1,137,098 |
| Gross Profit | 397,817 | 412,488 | 453,644 | 376,518 |
| Selling, General & Administrative Expenses | 229,657 | 231,453 | 240,158 | 212,649 |
| Depreciation & Amortization Expenses | 16,547 | 16,227 | 15,519 | 15,277 |
| Operating Profit | 151,613 | 164,808 | 197,967 | 148,592 |
| Interest and Investment Income | 5,569 | 2,637 | 1,485 | 752 |
| Interest Expense | (14,877) | (20,548) | (26,093) | (14,361) |
| Non-Operating Income | (2,793) | 2,731 | 1,761 | (673) |
| Total Non-Operating Income | (12,101) | (15,180) | (22,847) | (14,282) |
| Income Before Provision for Income Taxes | 139,512 | 149,628 | 175,120 | 134,310 |
| Provision for Income Taxes | 35,711 | 33,698 | 38,959 | 32,382 |
| Consolidated Net Income | 103,801 | 115,930 | 136,161 | 101,928 |
| Net Income Attributable to Common Shareholders | 103,801 | 115,930 | 136,161 | 101,928 |
| Basic EPS | 8.64 | 9.69 | 11.42 | 8.58 |
| Diluted EPS | 8.59 | 9.63 | 11.36 | 8.54 |
| Basic Weighted Average Shares Outstanding | 12,018 | 11,968 | 11,920 | 11,877 |
| Diluted Weighted Average Shares Outstanding | 12,077 | 12,037 | 11,987 | 11,934 |
| Shares Outstanding | 12,074 | 12,017 | 11,964 | 11,914 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 309,659 | 197,274 | 51,919 | 47,016 |
| Total Cash and Cash Equivalents | 309,659 | 197,274 | 51,919 | 47,016 |
| Accounts Receivable | 276,866 | 305,561 | 362,007 | 317,581 |
| Other Receivables | 16,687 | 91 | 54 | 916 |
| Total Trade Receivables | 293,553 | 305,652 | 362,061 | 318,497 |
| Inventories | 383,252 | 343,363 | 377,480 | 352,553 |
| Other Current Assets | 11,629 | 11,206 | 12,497 | 9,144 |
| Total Current Assets | 998,093 | 857,495 | 803,957 | 727,210 |
| Net Property, Plant & Equipment | 453,131 | 418,550 | 205,924 | 188,730 |
| Net Intangible Assets | 144,932 | 151,360 | 168,296 | 171,341 |
| Goodwill | 214,611 | 203,027 | 206,536 | 195,858 |
| Other Long-Term Assets | 21,901 | 27,123 | 24,673 | 25,369 |
| Total Assets | 1,606,616 | 1,450,279 | 1,409,386 | 1,308,508 |
| Accounts Payable | 125,130 | 84,505 | 99,678 | 97,537 |
| Accrued Expenses | 75,905 | 77,537 | 86,711 | 71,368 |
| Current Portion of Long-Term Debt | 15,000 | 15,008 | 15,008 | 15,009 |
| Other Current Liabilities | 2,332 | 13,259 | 12,529 | 6,592 |
| Total Current Liabilities | 218,367 | 190,309 | 213,926 | 190,506 |
| Long-Term Debt | 190,748 | 205,473 | 220,269 | 286,943 |
| Other Long-Term Liabilities | 48,798 | 36,243 | 42,428 | 45,699 |
| Total Long-Term Liabilities | 239,546 | 241,716 | 262,697 | 332,642 |
| Total Liabilities | 457,913 | 432,025 | 476,623 | 523,148 |
| Common Stock | 1,207 | 1,202 | 1,196 | 1,191 |
| Treasury Stock | (4,566) | (4,566) | (4,566) | (4,566) |
| Additional Paid-in Capital | 155,427 | 146,866 | 137,791 | 129,820 |
| Accumulated Other Comprehensive Income | (49,098) | (81,595) | (54,517) | (68,268) |
| Retained Earnings | 1,045,733 | 956,347 | 852,859 | 727,183 |
| Total Common Shareholders' Equity | 1,148,703 | 1,018,254 | 932,763 | 785,360 |
| Total Shareholders' Equity | 1,148,703 | 1,018,254 | 932,763 | 785,360 |
| Total Liabilities and Shareholders' Equity | 1,606,616 | 1,450,279 | 1,409,386 | 1,308,508 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Income | 103,801 | 115,930 | 136,161 | 101,928 |
| Depreciation & Amortization | 55,371 | 53,084 | 47,973 | 46,689 |
| Share-Based Compensation Expense | 9,938 | 9,141 | 7,424 | 5,561 |
| Other Adjustments | 8,851 | (1,825) | (9,918) | (1,407) |
| Changes in Trade Receivables | 40,618 | 47,012 | (35,293) | (85,055) |
| Changes in Inventories | (28,135) | 26,494 | (10,844) | (37,739) |
| Changes in Accounts Payable | 30,243 | (15,673) | 4,813 | (2,879) |
| Changes in Income Taxes Payable | (27,531) | (1,007) | 5,558 | 2,299 |
| Changes in Other Operating Activities | (15,613) | (23,378) | (14,720) | (14,867) |
| Cash from Operating Activities | 177,543 | 209,778 | 131,154 | 14,530 |
| Capital Expenditure | (30,627) | (24,993) | (37,745) | (31,141) |
| Proceeds from Sale of Property, Plant & Equipment | 4,480 | 3,045 | 12,682 | 1,566 |
| Purchases of Intangible Assets | (1,763) | (233) | — | (163) |
| Payments for Business Acquisitions | (18,283) | — | (27,560) | (2,000) |
| Cash from Investing Activities | (46,193) | (22,181) | (52,623) | (31,738) |
| Issuance of Short-Term Debt | 50,000 | 195,000 | 183,000 | 222,000 |
| Repayments of Short-Term Debt | (50,000) | (195,000) | (235,000) | (174,000) |
| Net Issuance / (Repayments) of Short-Term Debt | 0 | 0 | (52,000) | 48,000 |
| Repayments of Long-Term Debt | (15,007) | (15,069) | (14,948) | (15,031) |
| Net Issuance / (Repayments) of Long-Term Debt | (15,007) | (15,069) | (14,948) | (15,031) |
| Issuance of Common Shares | 1,650 | 1,912 | 1,586 | 803 |
| Repurchases of Common Shares | (3,022) | (1,972) | (1,034) | (768) |
| Net Issuance / (Repurchases) of Common Shares | (1,372) | (60) | 552 | 35 |
| Common Share Dividends Paid | (14,415) | (12,442) | (10,485) | (8,549) |
| Other Financing Activities | — | (4,402) | — | — |
| Cash from Financing Activities | (30,794) | (31,973) | (76,881) | 24,455 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 11,829 | (10,269) | 3,253 | (2,346) |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | 112,385 | 145,355 | 4,903 | 4,901 |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $2.03B |
| P/E | 19.54x |
| P/S | 1.26x |
| EV/EBITDA | 9.29x |
| Return on Equity | 9.6% |
| Return on Invested Capital | 10.4% |
| Current Ratio | 4.57x |
| Dividend Yield | 0.7% |
| Free Cash Flow Margin | 9.2% |
Margins
Gross margin
24.8%
Operating margin
9.5%
Net margin
6.5%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q2 2026 | $451M | +7.6% | 10.2% | $46M |
| Q1 2026 | $417M | +6.7% | 10.1% | $42M |
| Q4 2025 | $374M | -3.0% | 6.0% | $23M |
| Q3 2025 | $420M | +4.7% | 8.9% | $38M |
| Q2 2025 | $419M | — | 11.2% | $47M |
| Q1 2025 | $391M | — | 11.4% | $44M |
| Q4 2024 | $385M | — | 8.9% | $34M |
| Q3 2024 | $401M | — | 10.0% | $40M |
More on Alamo Group Inc.
Figures compiled from public company filings.
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