Alamo Group (ALG) FY2025 results: revenue $1.6 billion, down 1.5% on the year
Alamo Group Inc. (ALG) reported revenue of $1.6 billion for fiscal 2025, the year ended 31 December 2025, down 1.5% on the year before. Net income was $104 million, down 10.5%, and diluted earnings per share $8.59. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2026.
Revenue
$1.6 billion
-1.5% on the year
FY2018FY2025
Operating margin
9.5%
10.1% a year earlier
FY2018FY2025
Net income
$104 million
-10.5% on the year
FY2018FY2025
Diluted EPS
$8.59
-10.8% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Fourth quarter sales and EPS declined: Net sales were $373.7 million, down 3.0% from $385.3 million. Diluted EPS was $1.28 against $2.33; adjusted diluted EPS was $1.70 against $2.39.
Adjusted EBITDA margin fell in quarter: Fourth-quarter adjusted EBITDA was $44.8 million, 12.0% of net sales, against 13.4% a year earlier. Full-year adjusted EBITDA was $216.9 million, 13.5% of net sales.
Industrial Equipment sales rose 4.2%: Industrial Equipment fourth-quarter net sales were $234.9 million, up 4.2%. Adjusted EBITDA was $41.5 million, 17.7% of sales, against 15.7% a year earlier.
Vegetation sales fell 13.2%: Vegetation Management fourth-quarter net sales were $138.7 million, down 13.2%. Adjusted EBITDA was $3.2 million, 2.3% of sales, against $16.3 million and 10.2%.
Vegetation posted quarterly operating loss: Vegetation Management reported an operating loss of $10.6 million in the fourth quarter, a negative 7.6% margin, against income of $6.5 million a year earlier.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
178
210
131
-15.4%
Capital expenditure
30.6
25.0
37.7
+22.5%
Free cash flow
147
185
93.4
-20.5%
Free cash flow margin
9.2%
11.3%
5.5%
Cash from investing
-46.2
-22.2
-52.6
Cash from financing
-30.8
-32.0
-76.9
Depreciation and amortisation
43.6
43.1
39.2
+1.3%
Share-based compensation
9.9
9.1
7.4
+8.7%
Buybacks
3.0
2.0
1.0
+53.2%
Dividends paid
14.4
12.4
10.5
+15.9%
Dividend per share
$1.20
$1.04
$0.88
+15.4%
Diluted shares, weighted
12m
12m
12m
+0.3%
Shares outstanding at period end
12m
12m
12m
+0.5%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
1,149
1,018
933
+12.8%
Debt
206
220
235
-6.7%
Operating lease liabilities
8.4
11.8
11.3
-29.0%
Finance lease liabilities
n/a
n/a
0.1
Other liabilities
244
200
230
+22.1%
Total liabilities and equity
1,607
1,450
1,409
+10.8%
Goodwill
215
203
207
+5.7%
Intangible assets
145
151
168
-4.2%
Cash and equivalents
310
197
51.9
+57.0%
Receivables
277
306
362
-9.4%
Inventory
383
343
377
+11.6%
Other assets
277
250
243
+11.1%
Total assets
1,607
1,450
1,409
+10.8%
10-K for the year ended 31 December 2025, filed 2 March 2026: the filing.