Alamo Group
ALGNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $139.73 Prior regular-session close from the quote source.
- $140.85–$143.13 Regular-session low and high so far today.
- 132.8K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $133.32–$219.88 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own ALG if municipal, contractor, agricultural and vegetation-management replacement demand resumes without forcing the company to give back its value-added margins.
ALG price history
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Investment thesis
What must happen next
Municipal, contractor, agricultural and vegetation-management replacement needs keep Alamo’s specialized equipment portfolio from becoming a structurally shrinking business.HoldingMateriality: High
Annual GAAP revenue was $1.604 billion in FY2025, still above FY2021 revenue of $1.334 billion. If replacement demand holds, owners can underwrite a cyclical recovery; if it breaks, the revenue base is a melting ice cube rather than a durable platform.
Watch: State and local governments or contractors defer fleet replacement because budgets or infrastructure-maintenance spending weaken.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP revenue was $1.604 billion in FY2025, still above FY2021 revenue of $1.334 billion.
Open source ↗Alamo’s specialized product engineering and niche applications preserve enough pricing power that volume softness does not turn the business into commodity-equipment economics.HoldingMateriality: High
Annual GAAP gross profit was $397.8 million in FY2025, above FY2022 gross profit of $376.5 million despite revenue being only modestly higher than FY2022. Pricing power determines whether a demand recovery creates attractive profit growth or merely lower-quality volume.
Watch: Steel, hydraulic, component or labor inflation returns and Alamo cannot pass it through to customers.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP gross profit was $397.8 million in FY2025, above FY2022 gross profit of $376.5 million despite revenue being only.
Open source ↗Alamo’s manufacturing discipline and cost control allow its distributed plant network to absorb cyclical demand without permanently impairing operating economics.HoldingMateriality: Medium
Annual GAAP operating income was $151.6 million in FY2025, still above FY2022 operating income of $148.6 million. If fixed-cost absorption holds, margin recovery can drive EPS; if plants become underutilized, revenue stability will not protect earnings.
Watch: Sustained underutilization across the 27 manufacturing facilities leads to negative operating leverage.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP operating income was $151.6 million in FY2025, still above FY2022 operating income of $148.6 million.
Open source ↗Working-capital discipline makes Alamo’s earnings cash-generative through the equipment cycle, giving the company resilience when demand is uneven.StrengtheningMateriality: Medium
Annual GAAP operating cash flow was $177.5 million in FY2025 versus GAAP net income of $103.8 million. Cash conversion determines whether the company can self-fund operations, dividends or acquisitions instead of depending on external capital.
Watch: Dealer inventories build because sell-through slows, forcing Alamo to finance receivables or finished goods.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP operating cash flow was $177.5 million in FY2025 versus GAAP net income of $103.8 million.
Open source ↗A liquid balance sheet lets Alamo remain a consolidator and withstand cyclical demand shocks without relying on dilutive equity or distressed borrowing.StrengtheningMateriality: Medium
Cash was $309.7 million at FY2025 year-end, up from $197.3 million at FY2024 year-end and $51.9 million at FY2023 year-end. Balance-sheet flexibility can turn a downturn into an acquisition opportunity; losing it would reduce strategic options and increase downside risk.
Watch: Management overpays for acquisitions in adjacent equipment niches and destroys returns on capital.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash was $309.7 million at FY2025 year-end, up from $197.3 million at FY2024 year-end and $51.9 million at FY2023 year-end.
Open source ↗
Full investment case & evidence
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Original research
Municipal, contractor, agricultural and vegetation-management replacement needs keep Alamo’s specialized equipment portfolio from becoming a structurally shrinking business. If replacement demand holds, owners can underwrite a cyclical recovery; if it breaks, the revenue base is a melting ice cube rather than a durable platform.
Alamo’s specialized product engineering and niche applications preserve enough pricing power that volume softness does not turn the business into commodity-equipment economics. Pricing power determines whether a demand recovery creates attractive profit growth or merely lower-quality volume.
Alamo’s manufacturing discipline and cost control allow its distributed plant network to absorb cyclical demand without permanently impairing operating economics. If fixed-cost absorption holds, margin recovery can drive EPS; if plants become underutilized, revenue stability will not protect earnings.
Working-capital discipline makes Alamo’s earnings cash-generative through the equipment cycle, giving the company resilience when demand is uneven. Cash conversion determines whether the company can self-fund operations, dividends or acquisitions instead of depending on external capital.
A liquid balance sheet lets Alamo remain a consolidator and withstand cyclical demand shocks without relying on dilutive equity or distressed borrowing. Balance-sheet flexibility can turn a downturn into an acquisition opportunity; losing it would reduce strategic options and increase downside risk.
All standing thesis claims
Original report summary
municipal, contractor, agricultural and vegetation-management replacement demand resumes without forcing the company to give back its value-added margins.
Bull case and bear case
Bull case and bear case for Alamo Group
Where the evidence on Alamo Group stands: Holding on the latest evidence (Oct 15, 2026). Of its 5 thesis points, 2 strengthening and 3 holding.
Bull case: what the evidence supports
Municipal, contractor, agricultural and vegetation-management replacement needs keep Alamo’s specialized equipment portfolio from becoming a structurally shrinking business.
Alamo’s specialized product engineering and niche applications preserve enough pricing power that volume softness does not turn the business into commodity-equipment economics.
Alamo’s manufacturing discipline and cost control allow its distributed plant network to absorb cyclical demand without permanently impairing operating economics.
Working-capital discipline makes Alamo’s earnings cash-generative through the equipment cycle, giving the company resilience when demand is uneven.
A liquid balance sheet lets Alamo remain a consolidator and withstand cyclical demand shocks without relying on dilutive equity or distressed borrowing.
Bear case: what would count against it
State and local governments or contractors defer fleet replacement because budgets or infrastructure-maintenance spending weaken.
Steel, hydraulic, component or labor inflation returns and Alamo cannot pass it through to customers.
Sustained underutilization across the 27 manufacturing facilities leads to negative operating leverage.
Thesis-Break Engine
What has broken in Alamo Group’s thesis
Each break OptimistFi flagged on Alamo Group, dated — with what has historically followed the same kind of break across the market, not a forecast for Alamo Group.
- Material impairmentcondition set before this filing
Across all companies, this kind of break has happened 398 times before. Those stocks trailed comparable companies by a median of 0% over the next six months, and 36% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedMaterial impairment.
Alamo Group filed an SEC 8-K on 2026-09-30: Material impairment. It is a dated development that tests the current thesis.
- MixedMaterial impairment.
Alamo Group filed an SEC 8-K on 2026-09-08: Material impairment. It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
Alamo Group filed an SEC 8-K on 2026-08-11: Director or principal officer change. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- State and local governments or contractors defer fleet replacement because budgets or infrastructure-maintenance spending weaken.
- Steel, hydraulic, component or labor inflation returns and Alamo cannot pass it through to customers.
- Sustained underutilization across the 27 manufacturing facilities leads to negative operating leverage.
- Dealer inventories build because sell-through slows, forcing Alamo to finance receivables or finished goods.
- Management overpays for acquisitions in adjacent equipment niches and destroys returns on capital.
ALG news
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Financial statements
ALG income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.