What happened with DCO today?
No read yet
Uses news and trading volume to explain the day’s move and how it relates to the market.
Stop guessing. Get the call, a three-month target price, the best and worst cases, and a source for every claim.
Ducommun Incorporated supplies parts and assemblies that aircraft manufacturers and defense contractors build into their products. Its Electronic Systems business makes items such as wiring systems and circuit-board assemblies, while Structural Systems makes complex aircraft structures from metal and composites. Customers pay for these products and related engineering and manufacturing services, largely through subcontracts with major aerospace and defense contractors.
Military and space programs supply most revenue, followed by commercial aerospace; industrial and other markets contribute a small share. Revenue is concentrated among a group of large customers, with RTX and Boeing particularly important. Orders depend on those customers’ production schedules, aircraft demand and U.S. defense funding. Customers can cancel or reschedule orders, and most products are sold at fixed prices, so Ducommun bears the cost of manufacturing overruns.
Government procurement rules govern its defense work, and noncompliance can bar it from government business. Certain exports and manufacturing in Mexico require U.S. government approvals or licenses.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Ducommun depends on aircraft production and defense procurement, making RTX worth watching even though it is absent from this list: its largest named customer supplied 17.9% of 2025 revenue.
Boeing buys Ducommun components for aircraft it sells to airlines, so its production pace directly reaches a major Ducommun commercial revenue source. Watch 737 MAX output: Boeing announced FAA clearance to raise production from 38 to 42 aircraft per month.
Northrop Grumman's purchases for defense and aerospace programs generated 5.8% of Ducommun's 2025 revenue, linking Ducommun's component sales to this customer's production rates. Northrop develops, builds and supports systems mainly for U.S. defense and intelligence agencies; changes in its program output matter to Ducommun.
Lockheed Martin buys Ducommun products for aerospace and defense programs, accounting for 4.2% of Ducommun's 2025 revenue. It develops and supports aircraft, missile and space systems mainly for U.S. government agencies and allies, so watch production changes in those programs for shifts in demand for Ducommun's products.
CPI Aerostructures, Inc. both competes with Ducommun for aircraft-structure assembly work and supplies it with structural and welded assemblies for BLACK HAWK helicopters. Its BLACK HAWK work is the concrete supply connection to watch, distinct from its rivalry for aerospace and defense customers.
Mercury Systems Inc. overlaps with Ducommun in supplying electronics and subassemblies to aerospace and defense prime contractors. Its radar, electronic-warfare, avionics and weapons business offers a comparison for demand in applications also served by Ducommun's electronics.
TransDigm Group competes with Ducommun in engineered aircraft components while also buying Ducommun products for defense applications. Its aircraft switches, motors and microwave components overlap with Ducommun's offerings, so separate that product rivalry from its role as a paying customer.
Karman Holdings Inc. and Ducommun both depend on missile and space program production: Karman sells integrated systems mainly to prime contractors, while Ducommun supplies electronics and structures. Watch Karman's missile businesses as a demand comparison, since higher production rates on selected missile platforms helped Ducommun's military and space revenue grow in 2025.
Moog Inc. shares Ducommun's exposure to aircraft production and defense procurement, selling precision motion and fluid-control systems where Ducommun supplies electronics and structures. Aerospace and defense equipment manufacturers supplied 61% of Moog's fiscal 2025 sales, making that customer group's demand the useful comparison.
Arxis, Inc. overlaps with Ducommun in custom connectors, cable assemblies, microwave products and seals sold for demanding customer platforms. Arxis works with customers' engineers to get components designed into current and next-generation platforms, a useful comparison with Ducommun's efforts to secure a place early in product design.
Astronics Corp overlaps with Ducommun in selling aircraft structures, avionics and engineered electrical products to aerospace manufacturers. Its Aerospace segment is the relevant business to compare with Ducommun, rather than its separate automated-testing business.
Applied Aerospace & Defense, Inc. shares the defense aviation, precision-strike and space production markets that drive Ducommun's military electronics and structures sales, making qualified subassemblies to customers' requirements. Defense Aviation and Airborne Systems represented 66% of its historical revenue for the fiscal year ended December 31, 2025, making that business its clearest demand comparison.
Curtiss-Wright Corp. and Ducommun both sell highly engineered products to aerospace and defense customers, so aircraft production and defense program spending affect demand for both. Watch Curtiss-Wright's Aerospace & Industrial and Defense Electronics businesses for that comparison, keeping its nuclear-power and other industrial markets separate.
Viasat buys Ducommun products for its communications business, contributing 4.0% of Ducommun's 2025 revenue versus 3.0% in 2024. Viasat sells connectivity services and satellite and wireless equipment to government and commercial customers; its communications purchases are the direct link to Ducommun, rather than satellite coverage alone.
Air Industries Group overlaps with Ducommun in making critical aircraft components and assemblies, supplying aerospace and defense prime contractors directly and through other suppliers. Its landing gear, flight controls and engine mounts provide a comparison for aircraft-component demand, particularly from military aircraft users, which accounted for approximately 58.3% of its 2025 net sales.
Woodward, Inc. shares Ducommun's exposure to commercial aircraft production and military aircraft and missile procurement, selling propulsion and motion-control components to equipment manufacturers and prime contractors where Ducommun supplies structures and electronics. Its Aerospace business is the relevant demand comparison, rather than its industrial energy-control business.
Northrop Grumman Corp. earningsNOC
Northrop Grumman's purchases for aerospace and defense programs accounted for 5.8% of Ducommun's 2025 revenue, so its report can show whether production on relevant programs is still pulling through to Ducommun's component business.
Look at sales and program-production or order commentary in Northrop Grumman's relevant businesses. Stronger sales and active production indicate that this customer's programs are moving ahead and support demand for Ducommun's components; weaker sales or slower programs put that customer demand at risk, though one customer's results do not establish Ducommun's overall revenue trend.
Boeing Company earningsBA
Boeing's aircraft production feeds demand for Ducommun's commercial-aerospace components, and its report can show whether the planned 737 MAX increase from 38 to 42 aircraft a month is taking hold.
Watch Boeing's reported 737 MAX production pace alongside commercial-aircraft deliveries. Production rising as planned would support demand for Ducommun components on those lines; stalled increases or slower production would put Ducommun's commercial-aerospace orders and deliveries at greater risk, though Boeing's aircraft deliveries are not the same as Ducommun's shipments.
Durable Goods Orders MoM (Sep)
Durable goods orders track purchases of long-lasting products such as aircraft; they matter to Ducommun because commercial aerospace customers may build more or fewer aircraft, changing orders for its components and assemblies and the revenue they bring.
Expected0.2%Last release-0.1%
If it comes in above expectations
If the reading is above the 0.2% estimate, it is above the previous -0.1%. More orders than expected could support aircraft production and increase demand for Ducommun’s components and assemblies, helping its commercial aerospace sales.
If it comes in below expectations
Fewer orders than expected could lead commercial aerospace customers to scale back production, reducing demand for Ducommun’s components and assemblies and weighing on sales.
Arxis, Inc. earningsARXS
Arxis also sells connectors, cable assemblies and microwave products for demanding platforms, so its report can show whether those products and early design-ins are competing for the customer programs Ducommun targets.
Look for sales in Arxis's overlapping products and signs that customer design work is turning into orders. Stronger sales or more platform placements would show a rival gaining traction for similar product positions and customer programs, intensifying competition for Ducommun; weaker activity would show less momentum at Arxis, not prove that Ducommun won the work.
Fed Interest Rate Decision
The Fed’s rate decision tracks the central bank’s benchmark borrowing rate; because Ducommun has debt and some of it has variable interest, higher rates can raise its interest expense and debt-service costs, while lower rates can reduce them.
Expected4.0%Last release4.0%
If it comes in above expectations
A higher rate than expected could make variable-rate debt more expensive as it reprices, leaving less cash for Ducommun’s operations, investment and other obligations.
If it comes in below expectations
A lower rate than expected could reduce costs on variable-rate debt as it reprices, easing Ducommun’s debt-service burden and leaving more cash for operations and investment.
Ducommun Incorporated earningsThis company
Ducommun sells electronics and structural assemblies under many fixed-price contracts, so this report shows whether segment sales translate into profit or manufacturing costs eat into the gains.
Read revenue alongside segment operating margin for Electronic Systems and Structural Systems. Rising revenue with steady or higher margins means added deliveries are not being swallowed by production and fulfillment costs; rising revenue with falling margins means costs are outrunning the fixed prices, so sales growth is not translating into stronger segment profit.
CPI Aerostructures, Inc. earningsCVU
CPI Aerostructures supplies structural and welded assemblies for Ducommun's BLACK HAWK work, so its report offers a read on production and orders along that supply link.
Watch CPI Aerostructures' structural-products sales, orders and production. Stronger activity would indicate that the supplier's relevant business is operating and support the availability of assemblies Ducommun needs; weaker activity or production strain would raise supply risk, but this report alone cannot establish how much product Ducommun actually receives.
