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DCO Ducommun

Ducommun Incorporated delivers value-added innovative manufacturing solutions to customers in the aerospace, defense and industrial markets. Founded in 1849, the Company specializes in two core areas - Electronic Systems and Structural Systems - to produce complex products and components for commercial aircraft platforms, mission-critical military and space programs, and sophisticated industrial applications.

Company profile

Ticker
DCO
Exchange
CEO
Stephen Oswald
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
950693330

DCO stock data

(
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Calendar

4 May 21
30 Jul 21
31 Dec 21
Quarter (USD)
Apr 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Ducommun earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 16.97M 16.97M 16.97M 16.97M 16.97M 16.97M
Cash burn (monthly) 13.16M 4.05M (positive/no burn) (positive/no burn) 7.79M (positive/no burn)
Cash used (since last report) 51.36M 15.81M n/a n/a 30.37M n/a
Cash remaining -34.39M 1.16M n/a n/a -13.4M n/a
Runway (months of cash) -2.6 0.3 n/a n/a -1.7 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
23 Jun 21 Ducommun Robert C Common Stock Gift Aquire G Yes No 0 750 0 1,750
23 Jun 21 Ducommun Robert C Common Stock Gift Aquire G Yes No 0 250 0 3,015
23 Jun 21 Ducommun Robert C Common Stock Gift Dispose G No No 0 1,500 0 405,615
17 Jun 21 Rogers Rose F Common Stock Payment of exercise Dispose F No No 55.03 580 31.92K 37,142
17 Jun 21 Stephen G Oswald Common Stock Payment of exercise Dispose F No No 55.03 2,601 143.13K 257,436
17 Jun 21 Redondo Jerry L Common Stock Payment of exercise Dispose F No No 55.03 632 34.78K 42,174
17 Jun 21 Tata Rajiv A. Common Stock Payment of exercise Dispose F No No 55.03 104 5.72K 8,568

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

89.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 114 3 +3700.0%
Opened positions 111 2 +5450.0%
Closed positions 0 0
Increased positions 1 0 NEW
Reduced positions 1 1
13F shares
Current Prev Q Change
Total value 1.7B 124.1M +1271.1%
Total shares 10.58M 2.31M +357.7%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
William Blair Investment Management 927.46K $55.65M NEW
Dimensional Fund Advisors 925.69K $55.54M -2.3%
BLK Blackrock 836.34K $50.18M NEW
RY Royal Bank Of Canada 749.61K $44.98M NEW
Paradigm Capital Management 699.62K $41.98M +3.6%
RBC Global Asset Management 687.83K $36.94M 0.0%
Vanguard 552.5K $33.15M NEW
GS Goldman Sachs 480.89K $28.85M NEW
Wellington Management 353.57K $21.21M NEW
DB Deutsche Bank AG - Registered Shares 351.83K $21.11M NEW
Largest transactions
Shares Bought/sold Change
William Blair Investment Management 927.46K +927.46K NEW
BLK Blackrock 836.34K +836.34K NEW
RY Royal Bank Of Canada 749.61K +749.61K NEW
Vanguard 552.5K +552.5K NEW
GS Goldman Sachs 480.89K +480.89K NEW
Wellington Management 353.57K +353.57K NEW
DB Deutsche Bank AG - Registered Shares 351.83K +351.83K NEW
Royce & Associates 349.92K +349.92K NEW
GBL Gamco Investors 342.18K +342.18K NEW
Renaissance Technologies 333.8K +333.8K NEW

Financial report summary

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Risks
  • Our indebtedness could limit our financing options, adversely affect our financial condition, and prevent us from fulfilling our debt obligations.
  • We require a considerable amount of cash to run our business.
  • We require a considerable amount of cash to fund our anticipated voluntary principal prepayments on our Credit Facilities.
  • The covenants in our Credit Facilities impose restrictions that may limit our operating and financial flexibility.
  • We may be adversely affected by changes in LIBOR reporting practices or the method in which LIBOR is determined.
  • The typical trading volume of our common stock may affect an investor’s ability to sell significant stock holdings in the future without negatively impacting stock price.
  • Our amount of debt may require us to raise additional capital to fund acquisitions.
  • Our end-use markets are cyclical.
  • We depend upon a selected base of industries and customers, which subjects us to unique risks which may adversely affect us.
  • A significant portion of our business depends upon U.S. Government defense spending.
  • Contracts with some of our customers, including Federal government contracts, contain provisions which give our customers a variety of rights that are unfavorable to us and the OEMs to whom we provide products and services, including the ability to terminate a contract at any time for convenience.
  • Further consolidation in the aerospace industry could adversely affect our business and financial results.
  • Our growth strategy includes evaluating selected acquisitions, which entails certain risks to our business and financial performance.
  • We may not be successful in achieving expected operating efficiencies and sustaining or improving operating expense reductions, and may experience business disruptions associated with restructuring, performance center consolidations, realignment, cost reduction, and other strategic initiatives.
  • As we move up the value chain to become a more value added supplier, enhanced design, product development, manufacturing, supply chain project management and other skills will be required.
  • Risks associated with operating and conducting our business outside the United States could adversely impact us.
  • Customer pricing pressures could reduce the demand and/or price for our products and services.
  • Our products and processes are subject to risk of obsolescence as a result of changes in technology and evolving industry and regulatory standards.
  • We may not have the ability to renew facilities leases on terms favorable to us and relocation of operations presents risks due to business interruption.
  • We are subject to a number of procurement laws and regulations. Our business and our reputation could be adversely affected if we fail to comply with these laws.
  • Our operations are subject to numerous extensive, complex, costly and evolving laws, regulations and restrictions, including cybersecurity requirements, and failure to comply with these laws, regulations and restrictions could subject us to penalties and sanctions that could harm our business.
  • Environmental liabilities could adversely affect our financial results.
  • The occurrence of litigation in which we could be named as a defendant is unpredictable.
  • Product liability claims in excess of insurance could adversely affect our financial results and financial condition.
  • We use estimates when bidding on fixed-price contracts. Changes in our estimates could adversely affect our financial results.
  • Goodwill and/or other assets could be impaired in the future, which could result in substantial charges.
  • Unanticipated changes in our tax provision or exposure to additional income tax liabilities could affect our profitability.
  • Our ability to accurately report our financial results or prevent fraud may be adversely affected if our internal control over financial reporting is not effective.
  • We are dependent upon our ability to attract and retain key personnel.
  • Labor disruptions by our employees could adversely affect our business.
  • We rely on our suppliers to meet the quality and delivery expectations of our customers.
  • The COVID-19 pandemic has had a significant impact but could have a material adverse effect on our business, results of operations and financial condition.
  • Cybersecurity attacks, internal system or service failures may adversely impact our business and operations.
  • Assertions by third parties that we violated their intellectual property rights could have a material adverse effect on our business, financial condition, and results of operations.
  • Damage or destruction of our facilities caused by storms, earthquake, fires or other causes could adversely affect our financial results and financial condition.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Ducommun Incorporated (“Ducommun,” “the Company,” “we,” “us” or “our”) is a leading global provider of engineering and manufacturing services for high-performance products and high-cost-of failure applications used primarily in the aerospace and defense (“A&D”), industrial, medical and other industries (collectively, “Industrial”). We differentiate ourselves as a full-service solution-based provider, offering a wide range of value-added products and services in our primary businesses of electronics, structures and integrated solutions. We operate through two primary business segments: Electronic Systems and Structural Systems, each of which is a reportable segment.
  • The COVID-19 pandemic has had a significant impact on our overall business during the three months ended April 3, 2021. As a result of the COVID-19 pandemic, precautionary measures were instituted by governments and businesses to mitigate its spread, including the imposition of travel restrictions, quarantines, shelter in place directives, and shutting down of non-essential businesses.
Content analysis
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