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Auto parts · Consumer Cyclical · Fiscal year ends Dec 28
Dorman Products reported revenue of $2.1B in the fiscal year ended Dec 2025, up 6.0% from the year before. Operating income was $300M, an operating margin of 14.1%, and net income was $204M. Operating cash flow of $114M less capital expenditure of $38M left free cash flow of $76M. Net debt was $390M.
Ranks among the 17 auto parts companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,345 | 1,734 | 1,930 | 2,009 | 2,130 |
| Cost of revenue | 882 | 1,169 | 1,244 | 1,203 | 1,233 |
| Gross profit | 463 | 564 | 685 | 806 | 898 |
| Selling, general & admin | 291 | 393 | 471 | 513 | 541 |
| Operating income | 172 | 171 | 215 | 293 | 300 |
| Interest expense | 2.2 | 15.6 | 48.1 | 39.7 | 28.6 |
| Pre-tax income | 170 | 156 | 169 | 256 | 275 |
| Income tax | 38.2 | 34.7 | 39.2 | 66.2 | 71.3 |
| Net income | 132 | 122 | 129 | 190 | 204 |
| Diluted EPS | 4.12 | 3.85 | 4.10 | 6.14 | 6.64 |
| Diluted shares | 32.0 | 31.5 | 31.5 | 31.0 | 30.8 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 58.8 | 46.0 | 36.8 | 57.1 | 49.4 |
| Receivables | 473 | 427 | 527 | 574 | 479 |
| Inventory | 532 | 756 | 637 | 708 | 959 |
| Current assets | 1,077 | 1,269 | 1,234 | 1,370 | 1,522 |
| Net PP&E | 115 | 148 | 160 | 164 | 169 |
| Goodwill | 197 | 443 | 444 | 443 | 387 |
| Total assets | 1,673 | 2,342 | 2,292 | 2,425 | 2,493 |
| Payables | 177 | 180 | 177 | 232 | 185 |
| Current liabilities | 665 | 678 | 547 | 564 | 493 |
| Short-term debt | 0.0 | 12.5 | 15.6 | 28.1 | 37.5 |
| Long-term debt | 0.0 | 482 | 467 | 440 | 402 |
| Total liabilities | 740 | 1,299 | 1,124 | 1,131 | 1,016 |
| Shareholders' equity | 933 | 1,043 | 1,168 | 1,293 | 1,477 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 100 | 41.7 | 209 | 231 | 114 |
| Capital expenditure | 19.8 | 37.9 | 44.0 | 39.4 | 38.0 |
| Free cash flow | 80.5 | 3.8 | 165 | 192 | 75.7 |
| Depreciation & amortisation | 26.3 | 28.6 | 31.9 | 34.0 | 33.6 |
| Stock-based compensation | 8.2 | 9.4 | 11.5 | 15.0 | 19.6 |
| Acquisitions | 345 | 489 | −0.1 | −0.1 | 0.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 28.9% | 11.3% | 4.1% | 6.0% |
| Operating income growth (YoY) | – | −0.3% | 25.6% | 36.4% | 2.3% |
| EPS growth (YoY) | – | −6.6% | 6.5% | 49.8% | 8.1% |
| Gross margin | 34.4% | 32.6% | 35.5% | 40.1% | 42.1% |
| Operating margin | 12.8% | 9.9% | 11.1% | 14.6% | 14.1% |
| Net margin | 9.8% | 7.0% | 6.7% | 9.5% | 9.6% |
| Return on equityBlank when equity is negative | 14.1% | 11.7% | 11.1% | 14.7% | 13.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 17.0% | 10.3% | 12.3% | 15.7% | 15.0% |
| Free cash flow margin | 6.0% | 0.2% | 8.5% | 9.5% | 3.6% |
| Cash conversion (CFO ÷ net income) | 0.76x | 0.34x | 1.62x | 1.22x | 0.56x |
| Receivable days | 128 | 90 | 100 | 104 | 82 |
| Inventory days | 220 | 236 | 187 | 215 | 284 |
| Payable days | 73 | 56 | 52 | 70 | 55 |
| Interest cover | 79.3x | 11.0x | 4.47x | 7.37x | 10.5x |
| Debt ÷ equity | 0.00x | 0.47x | 0.41x | 0.36x | 0.30x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −58.8 | 449 | 446 | 411 | 390 |
| Current ratio | 1.62x | 1.87x | 2.25x | 2.43x | 3.09x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.