A Business at a Glance
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Dorman Products, Inc.
DORM
$4.1B
Mkt Cap
$134.20
+1.40%
Dorman Products, Inc. (DORM) has a current P/E ratio of 20.2, compared to its historical median P/E of 21.8. The stock is currently considered Fair based on its historical valuation range.
Dorman Products, Inc. (DORM) has a 5-year average return on invested capital (ROIC) of 12.9%. This indicates solid capital allocation.
Dorman Products, Inc. (DORM) has a market capitalization of $4.0B. It is classified as a mid-cap stock.
Dorman Products, Inc. (DORM) does not currently pay a regular dividend.
Based on historical P/E analysis, Dorman Products, Inc. (DORM) appears fair. The current P/E of 20.2 is 7% below its historical median of 21.8. The estimated fair value CAGR (P/E method) is 9.9%.
Dorman Products, Inc. (DORM) operates in the Motor Vehicle Parts & Accessories industry, within the Consumer Cyclical sector.
Dorman Products, Inc. (DORM) reported annual revenue of $2.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
We are one of the leading suppliers of replacement and upgrade parts in the motor vehicle aftermarket industry, serving passenger cars, light-, medium-, and heavy-duty trucks, as well as specialty vehicles, including utility terrain vehicles ("UTVs") and all-terrain vehicles ("ATVs"). As of December 31, 2025, we marketed approximately 144,000 distinct parts compared to approximately 138,000 as of December 31, 2024, many of which we designed and engineered. This number excludes private-label stock keeping units and other variations in how we market, package, and distribute our products, includes distinct parts of acquired companies, and reflects distinct parts that have been discontinued at the end of their lifecycle. Our products are sold under our various brand names, under our customers’ private-label brands, or in bulk.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.2B | 2.1B | 2.0B | 1.9B | 1.7B | 1.3B |
| Net Income | 190M | 204M | 190M | 129M | 122M | 132M |
| EPS | $6.25 | $6.64 | $6.14 | $4.10 | $3.85 | $4.12 |
| Free Cash Flow | 71M | 76M | 192M | 165M | 3.8M | 80M |
| ROIC | 11.0% | 12.4% | 13.1% | 10.6% | 11.3% | 16.9% |
| Gross Margin | 40.9% | 42.1% | 40.1% | 35.5% | 32.6% | 34.4% |
| Debt/Equity | 0.30 | 0.30 | 0.36 | 0.41 | 0.47 | 0.00 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 278M | 300M | 293M | 215M | 171M | 172M |
| Operating Margin | 12.9% | 14.1% | 14.6% | 11.1% | 9.9% | 12.8% |
| ROE | 13.0% | 14.7% | 15.4% | 11.7% | 12.3% | 14.7% |
| Shares Outstanding | 30M | 31M | 31M | 32M | 32M | 32M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 751M | 803M | 860M | 903M | 974M | 991M | 1.1B | 1.3B | 1.7B | 1.9B | 2.0B | 2.1B | 2.2B |
| Gross Margin | 38.2% | 38.4% | 39.3% | 39.7% | 38.3% | 34.3% | 35.1% | 34.4% | 32.6% | 35.5% | 40.1% | 42.1% | 40.9% |
| R&D | 16M | 17M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 146M | 162M | 169M | 182M | 202M | 234M | 250M | 291M | 393M | 471M | 513M | 541M | 545M |
| EBIT | 141M | 146M | 169M | 176M | 171M | 106M | 133M | 172M | 171M | 215M | 293M | 300M | 278M |
| Op. Margin | 18.7% | 18.2% | 19.6% | 19.5% | 17.6% | 10.7% | 12.2% | 12.8% | 9.9% | 11.1% | 14.6% | 14.1% | 12.9% |
| Net Income | 90M | 92M | 106M | 107M | 134M | 84M | 107M | 132M | 122M | 129M | 190M | 204M | 190M |
| Net Margin | 12.0% | 11.5% | 12.3% | 11.8% | 13.7% | 8.4% | 9.8% | 9.8% | 7.0% | 6.7% | 9.5% | 9.6% | 8.8% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 57M | 57M |
| Returns on Capital | |||||||||||||
| ROIC | 23.5% | 21.7% | 23.8% | 21.0% | 21.4% | 12.1% | 15.0% | 16.9% | 11.3% | 10.6% | 13.1% | 12.4% | 11.0% |
| ROE | 20.6% | 18.8% | 18.9% | 17.2% | 19.6% | 11.2% | 13.1% | 14.7% | 12.3% | 11.7% | 15.4% | 14.7% | 13.0% |
| ROA | 16.6% | 15.7% | 15.9% | 14.4% | 15.3% | 8.3% | 9.5% | 9.1% | 6.1% | 5.6% | 8.1% | 8.3% | 7.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 60M | 92M | 122M | 94M | 78M | 95M | 152M | 100M | 42M | 209M | 231M | 114M | 106M |
| Free Cash Flow | 30M | 70M | 101M | 70M | 52M | 66M | 137M | 80M | 3.8M | 165M | 192M | 76M | 71M |
| Owner Earnings | 46M | 75M | 100M | 70M | 49M | 67M | 118M | 66M | 3.7M | 165M | 182M | 60M | -221M |
| CapEx | 30M | 22M | 20M | 24M | 26M | 30M | 15M | 20M | 38M | 44M | 39M | 38M | 35M |
| Maint. CapEx | 13M | 16M | 19M | 22M | 25M | 25M | 27M | 26M | 29M | 32M | 34M | 34M | 307M |
| Growth CapEx | 17M | 5.8M | 1.4M | 3.0M | 706K | 4.2M | 0 | 0 | 9.3M | 12M | 5.4M | 4.4M | 0 |
| D&A | 13M | 16M | 19M | 22M | 25M | 25M | 27M | 26M | 29M | 32M | 34M | 34M | 307M |
| CapEx/OCF | 50.1% | 23.6% | 16.5% | 25.9% | 33.4% | 31.0% | 10.2% | 19.8% | 90.9% | 21.1% | 17.1% | 33.4% | 33.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 3.1M | 1.6M | 2.2M | 1.4M | 2.0M | 1.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 1.1M | 882K | 2.4M | 3.2M | 3.5M | 3.1M | 7.6M | 8.2M | 9.4M | 11M | 15M | 20M | 20M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.1M | 13M | 16M | 28M | 28M |
| Balance Sheet | |||||||||||||
| Net Debt | -48M | -79M | -149M | N/A | N/A | N/A | -156M | -59M | 449M | 446M | 411M | 390M | 397M |
| Cash & Equiv. | 48M | 79M | 149M | 72M | 43M | 68M | 156M | 59M | 46M | 37M | 57M | 49M | 43M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 | 482M | 467M | 440M | 402M | 403M |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.21 | 0.34 | 0.35 | 0.00 | 0.00 | 0.47 | 0.41 | 0.36 | 0.30 | 0.30 |
| Interest Coverage | 689.9 | 676.7 | 699.6 | 605.6 | 684.6 | 458.1 | 222.7 | 79.3 | 11.0 | 4.5 | 7.4 | 10.5 | 10.5 |
| Equity | 462M | 518M | 602M | 635M | 728M | 774M | 854M | 933M | 1.0B | 1.2B | 1.3B | 1.5B | 1.5B |
| Total Assets | 558M | 622M | 712M | 766M | 978M | 1.0B | 1.2B | 1.7B | 2.3B | 2.3B | 2.4B | 2.5B | 2.4B |
| Total Liabilities | 96M | 104M | 110M | 131M | 250M | 267M | 367M | 740M | 1.3B | 1.1B | 1.1B | 1.0B | 3.9M |
| Intangibles | 20M | 1.7M | 1.6M | 22M | 25M | 21M | 25M | 179M | 322M | 302M | 278M | 257M | 252M |
| Retained Earnings | 418M | 475M | 557M | 590M | 679M | 721M | 789M | 856M | 957M | 1.1B | 1.2B | 1.3B | 1.3B |
| Working Capital | 340M | 380M | 448M | 422M | 488M | 534M | 600M | 412M | 591M | 687M | 806M | 1.0B | 1.0B |
| Current Assets | 430M | 479M | 552M | 533M | 720M | 755M | 923M | 1.1B | 1.3B | 1.2B | 1.4B | 1.5B | 1.5B |
| Current Liabilities | 91M | 99M | 104M | 111M | 232M | 221M | 323M | 665M | 678M | 547M | 564M | 493M | 448M |
| Per Share Data | |||||||||||||
| EPS | 2.49 | 2.60 | 3.07 | 3.13 | 4.02 | 2.56 | 3.30 | 4.12 | 3.85 | 4.10 | 6.14 | 6.64 | 6.25 |
| Owner EPS | 1.27 | 2.12 | 2.91 | 2.04 | 1.48 | 2.04 | 3.64 | 2.06 | 0.12 | 5.25 | 5.88 | 1.96 | -7.35 |
| Book Value | 12.79 | 14.59 | 17.42 | 18.64 | 21.89 | 23.64 | 26.36 | 29.22 | 33.02 | 37.05 | 41.80 | 48.03 | 48.84 |
| Cash Flow/Share | 1.65 | 2.59 | 3.52 | 2.77 | 2.35 | 2.91 | 4.69 | 3.14 | 1.32 | 6.62 | 7.47 | 3.70 | 16.55 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 36.1M | 35.5M | 34.5M | 34.1M | 33.2M | 32.7M | 32.4M | 31.9M | 31.6M | 31.5M | 30.9M | 30.8M | 30.0M |
| Valuation | |||||||||||||
| P/E Ratio | 19.6 | 18.7 | 24.0 | 20.1 | 22.0 | 29.3 | 27.1 | 26.6 | 20.8 | 20.6 | 21.5 | 19.1 | 21.5 |
| P/FCF | 59.3 | 24.5 | 25.1 | 30.7 | 56.5 | 37.4 | 21.2 | 43.4 | 664.4 | 16.2 | 21.3 | 51.5 | 57.0 |
| EV/EBIT | 12.2 | 11.3 | 14.2 | N/A | N/A | N/A | N/A | 21.1 | 18.5 | 14.8 | 15.2 | 14.1 | 15.9 |
| Price/Book | 3.8 | 3.3 | 4.2 | N/A | 4.0 | 3.2 | 3.4 | 3.7 | 2.4 | 2.3 | 3.2 | 2.6 | 2.7 |
| Price/Sales | 2.4 | 2.2 | 2.3 | 2.8 | 2.5 | 2.7 | 2.3 | 2.4 | 1.7 | 1.3 | 1.6 | 1.9 | 1.9 |
| FCF Yield | 1.7% | 4.1% | 4.0% | 3.3% | 1.8% | 2.7% | 4.7% | 2.3% | 0.2% | 6.2% | 4.7% | 1.9% | 1.8% |
| Market Cap | 1.8B | 1.7B | 2.5B | 2.1B | 2.9B | 2.5B | 2.9B | 3.5B | 2.5B | 2.7B | 4.1B | 3.9B | 4.0B |
| Avg. Price | 50.10 | 48.68 | 57.61 | 73.93 | 73.59 | 81.79 | 76.21 | 102.06 | 95.20 | 82.27 | 102.68 | 132.12 | 134.20 |
| Year-End Price | 48.86 | 48.61 | 73.74 | 62.98 | 88.35 | 75.11 | 89.57 | 109.53 | 80.07 | 84.64 | 132.19 | 126.62 | 134.20 |
Dorman Products, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Dorman Products, Inc. trades at 20.2x trailing earnings, compared to its 15-year median P/E of 21.8x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 53.5x vs a median of 30.7x. The company's 5-year average ROIC is 12.9% with a gross margin of 37.0%. At current prices, the estimated annualized return to fair value is +9.8%.
Dorman Products, Inc. (DORM) has a net profit margin of 9.6%. This is a modest margin.
Dorman Products, Inc. (DORM) generated $76 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Dorman Products, Inc. (DORM) has a debt-to-equity ratio of 0.30. This indicates a conservatively financed balance sheet.
Dorman Products, Inc. (DORM) reported earnings per share (EPS) of $6.64 in its most recent fiscal year.
Dorman Products, Inc. (DORM) has a return on equity (ROE) of 14.7%. This indicates moderate shareholder returns.
Dorman Products, Inc. (DORM) has a 5-year average gross margin of 37.0%. This indicates decent pricing power.
The Ledger Terminal provides 17 years of financial data for Dorman Products, Inc. (DORM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Dorman Products, Inc. (DORM) has a book value per share of $48.03, based on its most recent annual SEC filing.