Dover Corporation (DOV)
Industrials · $25.0B market cap · SEC CIK 0000029905
fundamentals score out of 100
Next reports on Oct 22, 2026, with analysts expecting $2.89 in earnings per share.
The case for DOV
- Return on equity of 15%.
- Pays a modest 1.5% dividend.
The case against
- Earnings per share down 49.9%.
- Priced at 22.1× earnings while earnings per share are shrinking (-49.9%).
- The price trend is weak (38/100): +8.6% over a year, -16.8% over three months, 35% of the way up its 52-week range.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Industrials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 64 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 22 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 53 |
| Momentumhow the price has behaved lately | 38 |
| Stabilityhow violently it moves, what it owes and what it pays you | 60 |
- Each factor except momentum is half fixed thresholds, half rank among the 79 Industrials companies.
Key numbers
| Price / earnings | 22.1× |
|---|---|
| Price / book | 3.92× |
| Price / sales | 3.0× |
| Revenue growth (YoY) | +7.6% |
| EPS growth (YoY) | -49.9% |
| Gross margin | 40% |
| Operating margin | 17% |
| Net margin | 13% |
| Return on equity | 15% |
| Debt / equity | 0.42× |
| Current ratio | 1.98 |
| Dividend yield | 1.46% |
| Beta | 1.12 |
| 52-week range | $158.97 – $237.54 |
| Position in that range | 35% of the way up |
| 3-month return | -16.8% |
| 1-year return | +8.6% |
Five years of financials, as filed
Pulled from Dover Corporation's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $8.1B | $7.7B | $7.7B | $7.8B | $7.9B |
| Gross profit | $3.2B | $3.0B | $2.9B | $2.9B | $3.0B |
| Operating income | $1.4B | $1.2B | $1.2B | $1.3B | $1.3B |
| Net income | $1.1B | $2.7B | $1.1B | $1.1B | $1.1B |
| Operating cash flow | $1.3B | $1.1B | $1.3B | $806M | $1.1B |
| Capital expenditure | $220M | $168M | $183M | $211M | $171M |
| Total assets | $13.4B | $12.5B | $11.3B | $10.9B | $10.4B |
| Shareholder equity | $7.4B | $7.0B | $5.1B | $4.3B | $4.2B |
| Cash | $1.7B | $1.8B | $399M | $381M | $386M |
| Long-term debt | $2.6B | $2.5B | $3.0B | $2.9B | $3.0B |
| Free cash flow | $1.1B | $920M | $1.2B | $595M | $944M |
| Gross margin | 39.8% | 38.2% | 37.3% | 37.0% | 37.6% |
| Operating margin | 17.0% | 15.6% | 15.9% | 16.3% | 16.2% |
| Net margin | 13.5% | 34.8% | 13.8% | 13.6% | 14.2% |
| Diluted shares | 138M | 139M | 141M | 144M | 145M |
Share count is down 5.2% over 4 years. Buybacks have been shrinking the pie.
What Dover Corporation says it does
Overview Dover Corporation is a diversified global manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. Unless the context indicates otherwise, references herein to "Dover," "the Company," and words such as "we," "us," or "our" include Dover Corporation and its consolidated subsidiaries. Dover was incorporated in 1947 in the State of Delaware and became a publicly traded company in 1955. Dover is headquartered in Downers Grove, Illinois and currently employs approximately 24,000 people worldwide. Dover's five segments are structured around businesses with similar business models, go-to-market strategies, product categories, and manufacturing…
Risk factors DOV lists in its 10-K
- Recessions, adverse market conditions or downturns in the markets we serve could adversely affect our operations
- Increases in labor costs, potential labor disputes and work stoppages or an inability to hire skilled personnel could adversely affect our business
- Our reputation, ability to do business and results of operations may be impaired by improper conduct by any of our employees, agents, or business partners
- We are subject to risks relating to our existing international operations and expansion into new geographical markets
- Our businesses or operations may be adversely affected by natural or human-induced disasters, acts of war, terrorism, international conflicts, and public health crises
- Our operations, businesses, products and business strategy are subject to cybersecurity risks
- Unforeseen developments in contingencies such as litigation and product recalls could adversely affect our consolidated results of operations, financial condition and cash flows
- Our revenue, operating profits and cash flows could be adversely affected if our businesses are unable to protect or obtain patent and other intellectual property rights
- We could be negatively impacted by environmental, social and governance (ESG) and sustainability matters
- Our operating results depend in part on the timely development and commercialization, and customer acceptance, of new and enhanced products, digital solutions and support services based on technological innovation
- Our exposure to exchange rate fluctuations on cross-border transactions and the translation of local currency results into U.S. dollars could negatively impact our results of operations
- Our growth and results of operations may be adversely affected if we are unsuccessful in our capital allocation and acquisition program
- The indemnification provisions of acquisition and disposition agreements by which we have acquired or sold or disposed of companies may not fully protect us and may result in unexpected liabilities