PLOW vs. MLR

Last updated Jul 15, 2026

PLOW (Douglas Dynamics, Inc.) and MLR (Miller Industries, Inc.) are both stocks. Both operate in the Auto Parts industry within the Consumer Cyclical sector. Over the past 10 years, PLOW returned 8.77%/yr vs 10.98%/yr for MLR. At a 0.45 correlation, their price movements are largely independent.

Performance

PLOW vs. MLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Douglas Dynamics, Inc. (PLOW) and Miller Industries, Inc. (MLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLOW achieves a 35.03% return, which is significantly higher than MLR's 32.39% return. Over the past 10 years, PLOW has underperformed MLR with an annualized return of 8.77%, while MLR has yielded a comparatively higher 10.98% annualized return.

PLOW

• 1D: 0.97%
• 1M: -7.24%
• 6M: 20.40%
• YTD: 35.03%
• 1Y: 48.87%
• 3Y*: 18.46%
• 5Y*: 5.63%
• 10Y*: 8.77%

MLR

• 1D: 0.45%
• 1M: 0.84%
• 6M: 24.33%
• YTD: 32.39%
• 1Y: 12.58%
• 3Y*: 12.06%
• 5Y*: 7.58%
• 10Y*: 10.98%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PLOW vs. MLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLOW Douglas Dynamics, Inc.	35.03%	43.83%	-16.47%	-14.72%	-4.01%	-6.11%	-19.64%	57.21%	-2.68%	15.63%
MLR Miller Industries, Inc.	32.39%	-41.73%	56.58%	61.77%	-17.93%	-10.51%	4.82%	40.68%	7.49%	0.32%

Correlation

The correlation between PLOW and MLR is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since May 5, 2010	0.45

The correlation between PLOW and MLR shifts across timeframes, from 0.45 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PLOW : $1.01B MLR : $558.62M
EPS PLOW : $272.40 MLR : $1.34
PE Ratio PLOW : 0.16 MLR : 36.56
PEG Ratio PLOW : 0.01 MLR : 0.93
PS Ratio PLOW : 1.51 MLR : 0.76
PB Ratio PLOW : 0.00 MLR : 1.35
Total Revenue (TTM) PLOW : $678.78M MLR : $744.73M
Gross Profit (TTM) PLOW : $181.26M MLR : $112.13M
EBITDA (TTM) PLOW : $96.05M MLR : $33.28M

Return for Risk

PLOW vs. MLR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PLOW

PLOW Risk / Return Rank: 83
PLOW Sharpe Ratio Rank: 84
PLOW Sortino Ratio Rank: 82
PLOW Omega Ratio Rank: 82
PLOW Calmar Ratio Rank: 82
PLOW Martin Ratio Rank: 85

MLR

MLR Risk / Return Rank: 58
MLR Sharpe Ratio Rank: 61
MLR Sortino Ratio Rank: 55
MLR Omega Ratio Rank: 53
MLR Calmar Ratio Rank: 61
MLR Martin Ratio Rank: 61

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PLOW vs. MLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Douglas Dynamics, Inc. (PLOW) and Miller Industries, Inc. (MLR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PLOW	MLR	Difference
Sharpe ratio: Return per unit of total volatility	1.43	0.43	+1.00
Sortino ratio: Return per unit of downside risk	2.12	0.80	+1.32
Omega ratio: Gain probability vs. loss probability	1.28	1.09	+0.19
Calmar ratio: Return relative to maximum drawdown	2.38	0.64	+1.74
Martin ratio: Return relative to average drawdown	6.91	1.47	+5.44

PLOW vs. MLR - Sharpe Ratio Comparison

The current PLOW Sharpe Ratio is 1.43, which is higher than the MLR Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of PLOW and MLR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PLOW vs. MLR - Drawdown Comparison

The maximum PLOW drawdown since its inception was -55.53%, smaller than the maximum MLR drawdown of -98.14%. Use the drawdown chart below to compare losses from any high point for PLOW and MLR.

Drawdown Indicators

	PLOW	MLR	Difference
Max Drawdown Largest peak-to-trough decline	-55.53%	-98.14%	+42.61%
Max Drawdown (1Y) Largest decline over 1 year	-20.65%	-19.88%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	-32.38%	-52.70%	+20.32%
Max Drawdown (5Y) Largest decline over 5 years	-47.68%	-52.70%	+5.02%
Max Drawdown (10Y) Largest decline over 10 years	-55.53%	-53.25%	-2.28%
Current Drawdown Current decline from peak	-19.74%	-35.06%	+15.32%
Average Drawdown Average peak-to-trough decline	-18.30%	-69.51%	+51.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.15%	8.61%	-1.46%

Volatility

PLOW vs. MLR - Volatility Comparison

Douglas Dynamics, Inc. (PLOW) has a higher volatility of 13.38% compared to Miller Industries, Inc. (MLR) at 7.64%. This indicates that PLOW's price experiences larger fluctuations and is considered to be riskier than MLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLOW	MLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.38%	7.64%	+5.74%
Volatility (6M) Calculated over the trailing 6-month period	28.84%	19.35%	+9.49%
Volatility (1Y) Calculated over the trailing 1-year period	34.24%	29.35%	+4.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.98%	30.64%	+2.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.01%	30.84%	+4.17%

Dividends

PLOW vs. MLR - Dividend Comparison

PLOW's dividend yield for the trailing twelve months is around 2.71%, more than MLR's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLR Miller Industries, Inc.	1.67%	2.14%	1.16%	1.70%	2.70%	2.16%	1.89%	1.94%	2.67%	2.79%	2.57%	2.94%
PLOW Douglas Dynamics, Inc.	2.71%	3.61%	4.99%	3.98%	3.21%	2.92%	2.62%	1.98%	2.95%	2.54%	2.79%	4.22%

Financials

Frequently Asked Questions

Can I hold both PLOW and MLR in my portfolio?

PLOW and MLR have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLOW or MLR?

PLOW has higher volatility (13.38%) compared to MLR (7.64%). In terms of maximum drawdown, PLOW dropped -55.53% vs MLR's -98.14%.

Which has better risk-adjusted returns?

PLOW currently has the higher Sharpe Ratio (1.43 vs 0.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.