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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

(
)

Calendar

11 Feb 21
22 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 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) 56.47M 56.47M 56.47M 56.47M 56.47M 56.47M
Cash burn (monthly) 6.03M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 22.56M n/a n/a n/a n/a n/a
Cash remaining 33.91M n/a n/a n/a n/a n/a
Runway (months of cash) 5.6 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Mar 21 Stephen G Oswald Common Stock Payment of exercise Dispose F No No 58.01 14,041 814.52K 264,249
16 Mar 21 Stephen G Oswald Common Stock Grant Aquire A No No 0 26,667 0 278,290
17 Feb 21 Stephen G Oswald Common Stock Grant Aquire A No No 0 18,000 0 251,623
17 Feb 21 Stephen G Oswald Common Stock Payment of exercise Dispose F No No 55.51 32,249 1.79M 233,623
17 Feb 21 Stephen G Oswald Common Stock Grant Aquire A No No 0 61,250 0 265,872
17 Feb 21 Redondo Jerry L Common Stock Grant Aquire A No No 0 3,440 0 44,282
17 Feb 21 Redondo Jerry L Common Stock Payment of exercise Dispose F No No 55.51 5,682 315.41K 40,842
17 Feb 21 Redondo Jerry L Common Stock Grant Aquire A No No 0 12,000 0 46,524
17 Feb 21 Rogers Rose F Common Stock Grant Aquire A No No 0 3,020 0 40,324
17 Feb 21 Rogers Rose F Common Stock Payment of exercise Dispose F No No 55.51 6,318 350.71K 37,304

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

13F holders
Current Prev Q Change
Total holders 1536 1437 +6.9%
Opened positions 200 125 +60.0%
Closed positions 101 120 -15.8%
Increased positions 578 544 +6.3%
Reduced positions 578 582 -0.7%
13F shares
Current Prev Q Change
Total value 42.98B 41.46B +3.7%
Total shares 469.49M 465.48M +0.9%
Total puts 2.63M 2.46M +7.2%
Total calls 2.67M 4.58M -41.6%
Total put/call ratio 1.0 0.5 +83.3%
Largest owners
Shares Value Change
Vanguard 61.6M $5.64B -1.4%
BLK Blackrock 51.23M $4.69B -0.7%
STT State Street 37.29M $3.41B -2.9%
Wellington Management 29.56M $2.71B +0.4%
Massachusetts Financial Services 26.01M $2.38B +1.2%
BEN Franklin Resources 17.09M $1.56B +0.7%
Capital Research Global Investors 11.85M $1.08B +68.3%
Geode Capital Management 11.32M $1.03B +2.1%
NTRS Northern Trust 8.95M $819.27M -2.9%
FMR 8.73M $799.22M +63.9%
Largest transactions
Shares Bought/sold Change
Capital Research Global Investors 11.85M +4.81M +68.3%
FMR 8.73M +3.4M +63.9%
AMP Ameriprise Financial 3.17M +2.12M +202.1%
BAM Brookfield Asset Management 1.54M +1.54M NEW
Epoch Investment Partners 0 -1.39M EXIT
IVZ Invesco 7.88M -1.31M -14.2%
Two Sigma Advisers 820.8K -1.16M -58.6%
STT State Street 37.29M -1.11M -2.9%
Zimmer Partners 0 -925K EXIT
Vanguard 61.6M -855.97K -1.4%

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
  • Net cash provided by operating activities during 2020 was $12.6 million, compared to $51.0 million during 2019. The lower cash provided by operating activities during 2020 was primarily due to higher contract assets, higher inventories, and lower accounts payable, partially offset by higher contract liabilities and lower accounts receivable.
  • Net cash used in investing activities during 2020 was $5.5 million compared to $94.9 million during 2019. The lower cash used in investing activities during 2020 was primarily due to lower payments for acquisitions.
  • Net cash provided by financing activities during 2020 was $9.7 million compared to $73.2 million during 2019. The lower cash provided by financing activities during 2020 was primarily due to lower net borrowings on the Credit Facilities.
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