Dorman Products, Inc.

Listed Company

DORMCIK 0000868780NasdaqLarge AcceleratedMotor Vehicle Parts & AccessoriesPennsylvaniaFY ends Dec 28

Period

FY 2025

Revenue

$2.13B

Net Income

$204.19M

Total Assets

$2.49B

Equity

$1.48B

Shares Out

30.18M

Op. Cash Flow

$113.63M

Business

Dorman Products, Inc. supplies replacement and upgrade parts for the motor vehicle aftermarket, serving passenger cars, light-, medium-, and heavy-duty trucks, and specialty vehicles such as UTVs and ATVs. It offers a broad range of products including engine, undercar, steering and suspension, body, electronics, hardware, remanufactured modules, and accessories marketed under Dorman®, Dayton Parts®, SuperATV®, and other brands. The company organizes its business across light-duty, heavy-duty, and specialty vehicle sectors. Its products are sold primarily in North America through aftermarket retailers, distributors, dealers, e-commerce, and salvage yards.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	2,130	2,009	1,930	1,734	1,345
Cost of goods sold	1,233	1,203	1,244	1,169	882
Gross profit	898	806	685	564	463
Selling, general, and administrative expenses	541	513	471	393	291
Goodwill impairment charge	57	0	0	—	—
Income from operations	300	293	215	171	172
Interest expense, net	29	40	48	16	—
Other income, net	4	3	2	735,000	−377,000
Income before income taxes	275	256	169	156	170
Provision for income taxes	71	66	39	35	38
Net income	204	190	129	122	132
Change in foreign currency translation adjustment	2	−4	713,000	−2	−1
Comprehensive Income	206	186	130	120	130
Basic (dollars per share)	6.69	6.17	4.11	3.87	4.13
Diluted (dollars per share)	6.64	6.14	4.1	3.85	4.12
Basic (in shares)	31	31	31	31	32
Diluted (in shares)	31	31	32	32	32

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	49	57	37	46	59
Accounts receivable, less allowance for doubtful accounts of $1,948 and $1,619	479	574	527	427	473
Inventories	959	708	637	756	532
Prepaids and other current assets	34	31	33	40	13
Total current assets	1,522	1,370	1,234	1,269	1,077
Property, plant, and equipment, net	169	164	160	148	115
Operating lease right-of-use assets	113	118	103	110	59
Goodwill	387	443	444	443	197
Intangible assets, net	257	278	302	322	179
Deferred tax assets	0	6	0	—	—
Other assets	46	45	50	49	47
Total assets	2,493	2,425	2,292	2,342	1,673
Accounts payable	185	232	177	180	177
Accrued compensation	31	44	24	19	27
Accrued customer rebates and returns	197	204	204	192	188
Revolving credit facility	0	14	93	239	239
Current portion of long-term debt	38	28	16	13	0
Other accrued liabilities	42	42	34	35	34
Total current liabilities	493	564	547	678	665
Long-term debt	402	440	467	482	0
Long-term operating lease liabilities	97	105	91	98	52
Deferred tax liabilities	4	4	9	12	18
Other long-term liabilities	20	19	10	28	5
Commitments and contingencies (Note 10)	—	—	—	—	—
Common stock, par value $0.01; authorized 50,000,000 shares; issued and outstanding 30,391,955 and 30,565,855 shares in 2025 and 2024, respectively	304,000	306,000	313,000	314,000	316,000
Additional paid-in capital	137	119	101	89	77
Retained earnings	1,344	1,181	1,069	957	856
Accumulated other comprehensive loss	−5	−7	−3	−3	−1
Total shareholders' equity	1,477	1,293	1,168	1,043	933
Total liabilities and shareholders' equity	2,493	2,425	2,292	2,342	1,673

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	204	190	129	122	132
Depreciation, amortization, and accretion	56	57	55	45	35
Provision for doubtful accounts	332,000	90,000	5	86,000	181,000
Provision (benefit) from deferred income taxes	6	−11	−3	−6	−12
Provision for stock-based compensation	20	15	11	9	8
Fair value adjustment to contingent consideration	0	0	−21	0	0
Accounts receivable	94	−47	−104	48	11
Inventories	−250	−72	119	−134	−154
Prepaids and other current assets	−3	−5	15	−11	−3
Other assets	−6	796,000	−5	−28,000	−5
Accounts payable	−48	56	−3	−6	47
Accrued customer rebates and returns	−7	−120,000	12	2	31
Accrued compensation and other liabilities	−10	48	−2	−28	12
Cash provided by operating activities	114	231	209	42	100
Acquisitions, net of divestitures	0	100,000	67,000	−489	−345
Property, plant, and equipment additions	−38	−39	−44	−38	−20
Cash used in investing activities	−38	−39	−44	−527	−365
Payments of revolving credit line	−14	−79	−147	−10	−13
Payments of long-term debt	−28	−16	−13	−3	0
Payment of deferred acquisition consideration	0	−200,000	0	0	—
Proceeds from exercise of stock options	4	5	1	1	3
Purchase and cancellation of common stock	−41	−81	−16	−20	−63
Other stock-related activity	−5	−254,000	−467,000	132,000	1
Cash used in financing activities	−84	−171	−174	472	168
Effect of exchange rate changes on Cash and Cash Equivalents	323,000	−424,000	32,000	−93,000	−44,000
Net (Decrease) increase in Cash and Cash Equivalents	−8	20	−9	−13	−97
Cash paid for interest expense	27	39	50	12	2
Cash paid for income taxes, net of amount refunded	69	57	35	63	46

Filings

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