DMC Global Inc. (BOOM)
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symbol.quality_heading
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Red here is not about the price of the stock — measured against revenue and book value it is strikingly low, and that alone would never justify this rating. Red is about two documented balance sheet findings. First, debt service: over the trailing twelve months operating income does not cover interest — 2025 produced minus $0.1 million of operating income against $6.5 million of interest expense, and the first half of 2026 plus $1.1 million against $2.7 million — while the three-year cumulative loss position forces the company to stop recognizing tax benefits on U.S. losses. Second, dependence on a single counterparty: from September 6, 2026 the minority holder of Arcadia Products may call at least $187.08 million that DMC can service neither from cash ($28.6 million as of June 30, 2026) nor from remaining credit headroom (on the order of $22 million to $36 million) — and the alternative written into the contract would, on the company's own assessment, likely cost existing stockholders majority voting control. Several things argue against red and deserve a fair hearing: there is no going concern warning, equity is positive at $237.4 million, all covenants were met, the second quarter of 2026 was profitable at the operating level in all three segments, and operations provided $53.5 million in 2025. Where the evidence sits between two levels, the more cautious one applies — and an obligation larger than the market value of the whole company, timed by a third party, is no longer an operating question mark but a balance sheet risk. The decision is yours.
symbol.quality_note
On paper DMC Global looks like a bargain. The market valued the whole company at roughly $111 million in late July 2026, while equity attributable to its stockholders stood at $237.4 million as of June 30, 2026 — less than half of book value. One line higher in the balance sheet, however, sits a redeemable noncontrolling interest of $187.08 million. That is the minimum the 40 percent partner in the Arcadia Products facade business may demand from September 6, 2026 onward. If DMC pays in preferred stock rather than cash, the company itself considers a transfer of majority voting control to that partner likely. Not investment advice — just the question of who really owns how much of this substance.
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Stock Watch
This analysis is as of July 30, 2026. Stock Watch will tell you what's changed at BOOM since then.
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Appears in These Scanners
This stock currently matches 5 of our scanner strategies — each hit links to the scanner.
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Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 6.70 $ — 47% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
Uses AIDer Geschäftsbericht 10-K für 2025 belegt den eigenen operativen Einsatz von KI-Werkzeugen; KI ist in keinem der drei Segmente (Arcadia Products, DynaEnergetics, NobelClad) eine Umsatzquelle.
View the full file — quotes, sources, reviewed filings
„We are integrating AI tools into our operations, and our third-party service providers and competitors are adopting such technologies."
Wir binden KI-Werkzeuge in unsere Abläufe ein, und unsere externen Dienstleister und Wettbewerber führen solche Technologien ebenfalls ein.
„Advances in automation and AI may also alter the skills required of our workforce and could reduce demand for certain roles, creating challenges in workforce management, employee relations, and reputational risk."
Fortschritte bei Automatisierung und KI können außerdem die Qualifikationsanforderungen an unsere Belegschaft verändern und die Nachfrage nach bestimmten Tätigkeiten verringern; daraus entstehen Herausforderungen in der Personalführung, in den Arbeitnehmerbeziehungen und Reputationsrisiken.
Filings Reviewed: 10-Q 2026-07-29 · 10-Q 2026-04-30 · 10-K 2026-02-23 · 10-Q 2025-11-04 · 10-Q 2025-08-05 · 10-K 2025-02-24
Rated on July 30, 2026 · How the Rating Is Built
Analysts & Price Target
The price target sits 26.9% above the current price.
- Consensus
- Hold
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Next Reporting Date
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q3 | -0.49 | -198.00 | 152 | -11.50 | -106.90 | 19 | 13 |
| 2024: Q4 | 0.09 | 800.00 | 152 | -12.40 | -0.50 | 12 | 6 |
| 2025: Q1 | 0.04 | 300.00 | 159 | -4.50 | 0.50 | 5 | 1 |
| 2025: Q2 | 0.12 | -58.60 | 156 | -9.20 | -3.10 | 15 | 12 |
| 2025: Q3 | -0.08 | 83.70 | 152 | -0.60 | -1.40 | 19 | 15 |
| 2025: Q4 | -0.50 | -655.60 | 144 | -5.80 | -8.20 | 15 | 10 |
| 2026: Q1 | -0.34 | -950.00 | 136 | -14.90 | -5.00 | -2 | -5 |
| 2026: Q2 | – | – | 157 | 0.90 | 1.30 | -8 | -10 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
Three genuine manufacturing businesses with nothing in common: aluminum facades (Arcadia Products, $246.2 million of revenue in 2025), perforating systems for oil and gas wells (DynaEnergetics, $270.2 million) and explosion-welded clad metal plates (NobelClad, $93.4 million). No synergies, but also no mutual dependence — instead three different cycles under one roof.
Group revenue fell for three consecutive years, from $719.2 million (2023) through $642.9 million (2024) to $609.8 million (2025), and every single segment ended 2025 below its 2023 level. The first half of 2026 brought $292.5 million against $314.8 million. The second quarter of 2026 stabilized at $157.0 million, slightly above the prior-year quarter — one quarter, not a trend.
As of June 30, 2026 the company held $28.6 million of cash against $60.2 million of drawn borrowings, and all covenants were met (leverage 2.19 times against a permitted 3.0 times). Operating income does not cover interest, however: 2025 produced minus $0.1 million of operating income against $6.5 million of interest expense, the first half of 2026 plus $1.1 million against $2.7 million. U.S. tax losses are no longer recognized because of the three-year cumulative loss position.
Above equity sits a redeemable noncontrolling interest of $187.08 million (June 30, 2026) — the contractual floor value for 40 percent of Arcadia Products, puttable from September 6, 2026 at the partner's sole discretion. That is more than the market value of the whole group of roughly $111 million (July 29, 2026), and the credit facility provides only $22 million to $36 million of additional room up to the temporary 3.5 times cap.
In the permitted mix of 20 percent cash and 80 percent preferred stock, roughly $149.7 million of convertible preferred would be issued against 20,540,949 common shares outstanding (July 22, 2026). The quarterly report filed July 29, 2026 states in as many words that this would likely give the minority holder majority voting control — through involuntary dilution of existing stockholders.
The second quarter of 2026 was the best in a year: $157.0 million of revenue, all three segments profitable at the operating level, $0.5 million of net income attributable to DMC stockholders and $10.7 million of adjusted EBITDA. Guidance for the third quarter of 2026 is $158 million to $168 million of revenue. The court also dismissed the securities class action on March 20, 2026 and the related derivative suits on May 1, 2026.
DMC Global is an industrial conglomerate of three solid but shrinking manufacturing businesses — and a balance sheet whose most important number sits above equity. $187.08 million is the contractual floor price for the 40 percent of Arcadia Products that DMC does not own; from September 6, 2026 the minority holder alone decides when to put it. That is more than the market value of the entire group of roughly $111 million (July 29, 2026). Cash ($28.6 million) and credit headroom (on the order of $22 million to $36 million) do not cover it, and if DMC pays in preferred stock the company itself considers a transfer of majority voting control to the partner likely. The fact that the second quarter of 2026 looked better again, with $157.0 million of revenue and $0.5 million of attributable net income, does not change that maturity. Not investment advice.
- DMC Global reached our research list through the Reddit hype scan of July 30, 2026. The stock appeared in none of our stock scanners that day (checked live on July 30, 2026) — the lists are recalculated daily, so the finding can change.
- The $187.08 million redeemable noncontrolling interest is a contractual floor value from the 2021 purchase agreement, not a market price. The company's own impairment test led to a full write-off of Arcadia goodwill of $141.7 million in 2024. Both figures describe the same asset — the difference is the real story of this analysis.
- Easily confused: the ticker BOOM refers to NobelClad's explosion-welding technology, not to a defense or munitions maker; until November 2016 the company traded as Dynamic Materials Corp. Valuation figures are dated and evergreen: the anchor is the $5.42 closing price of July 29, 2026 — daily prices are not a buy argument.
About the Company
DMC Global Inc. provides various products and engineered solutions for the construction, energy, and industrial processing markets worldwide. It operates through three segments: Arcadia Products, DynaEnergetics, and NobelClad. The Arcadia Products segment offers designed, engineered, fabricated, and finished aluminum framing systems, windows, curtain walls, storefronts, entrance systems, and other architectural components for use in commercial exteriors; and interior framing and partitions comprising framing systems, aluminum doors, sliding systems, and glazing systems. This segment also provides custom, fully fabricated aluminum, steel, and wood windows and doors for the home market. This segment sells its products through a national in-house sales force for buildings, such as office towers, airports, hotels, education and athletic facilities, health care facilities, government buildings, retail centers, mixed use and multi-family residential buildings, and industrial and manufacturing centers. The DynaEnergetics segment designs, manufactures, and sells perforating systems, such as initiation systems, shaped charges, detonating cords, gun hardware, and a control panel; and perforating systems and associated hardware for the oil and gas industry. This segment sells its products through direct selling, distributors, and independent sales representatives. The NobelClad segment produces and sells explosion-welded clad metal plates for use in the construction of heavy, corrosion resistant pressure vessels, and heat exchangers for oil and gas, chemical and petrochemical, petroleum refining, alternative energy, hydrometallurgy, aluminum production, shipbuilding, power generation, and industrial refrigeration industries. The company was formerly known as Dynamic Materials Corporation and changed its name to DMC Global Inc. in November 2016. DMC Global Inc. was founded in 1965 and is headquartered in Broomfield, Colorado.
| Employees | 1,500 |
|---|---|
| Headquarters | Broomfield, CO |
| Website | dmcglobal.com |
| IPO Date | 5. Jan 1989 |
Management
| Name | Title | Birth Year |
|---|---|---|
| James O'Leary | CEO, President & Executive Chairman of the Board | 1963 |
| Eric V. Walter | Chief Financial Officer | 1970 |
| Brett A. Seger | Chief Accounting Officer | 1983 |
| Ian Grieves | President & MD of DynaEnergetics | 1969 |
| James Schladen | President of Arcadia Products, LLC | 1958 |
| Geoff High | Vice President of Investor Relations & Corporate Communications | – |
| Adam McCoy | Senior Vice President of Human Resources | – |
| Antoine Nobili | President of NobelClad Europe SAS | 1972 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.