DORM Dorman Products, Inc.

Overview and Growth

In fiscal 2025, Dorman Products, Inc. recorded $2.13B of revenue, net income of $204.19M, and an operating cash inflow of $113.63M. The $2.13B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 6.0% above fiscal 2024 revenue of $2.01B, marking a year-over-year increase. The company reported diluted EPS of $6.64, adding a shareholder-level measure to the absolute income figures considered below. Diluted EPS increased by 8.1% from $6.14 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The revenue-to-assets relationship was 0.85x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Gross profit was $897.74M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. The gross-profit relationship equaled 42.1% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $299.55M, capturing profitability after direct costs and the operating expenses reflected in the statements. Operating margin measured 14.1%, showing the portion of revenue preserved after the full set of operating costs. After all reported below-operating-line items, the company recorded net income of $204.19M for the fiscal year. Measured against reported revenue, net income produced a 9.6% margin after operating costs and the remaining recognized items. The earnings statement records $275.44M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 12.9%, relating income before taxes directly to revenue. The reported income-tax provision was $71.25M, the amount recognized between pretax income and the final net-income result. The income-tax provision equaled 25.9% of pretax income, showing the tax burden absorbed by the year’s earnings.

Liquidity and Capital Structure

The company held $2.49B of assets against $1.02B of liabilities and $1.48B of equity, revealing how the asset base was financed. Current assets were $1.52B against $492.83M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 3.09x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $49.44M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 10.0% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $439.91M of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 0.3x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 17.6% of total assets, placing borrowing in the context of the company’s full resource base. Liabilities represented 40.8% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 2.0% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $2.42B in fiscal 2024, the current asset base moved 2.8% and finished higher.

Cash Flow and Earnings Quality

Cash flow from operations was $113.63M, a reported cash inflow that can be compared directly with net income and capital spending. The operating-cash-flow-to-net-income relationship was 0.56x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $37.97M of capital expenditures, the investment amount considered after operating cash generation. Capital spending absorbed 33.4% of operating cash flow, quantifying the share of cash from operations directed to investment. Free cash flow came to $75.67M, leaving a positive amount after capital expenditures. The free-cash-flow margin was 3.6%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 3.0% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.