Dover (DOV) Financials

$172.97 -0.90 (-0.52%)

Closing price 05/5/2025 03:59 PM Eastern

Extended Trading

$175.38 +2.41 (+1.39%)

As of 04:43 AM Eastern

Annual Income Statements for Dover

This table shows Dover's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	870	509	812	570	701	683	1,124	1,065	1,057	2,697
Consolidated Net Income / (Loss)	870	509	812	570	678	683	1,124	1,065	1,057	2,697
Net Income / (Loss) Continuing Operations	596	502	747	591	701	678	1,124	990	944	1,400
Total Pre-Tax Income	801	685	876	725	843	837	1,401	1,190	1,123	1,757
Total Operating Income	921	709	807	843	975	933	1,282	1,280	1,219	1,206
Total Gross Profit	2,568	2,228	2,529	2,560	2,621	2,474	2,970	2,905	2,868	2,959
Total Revenue	6,956	6,043	6,821	6,992	7,136	6,684	7,907	7,844	7,684	7,746
Operating Revenue	6,956	6,043	6,821	6,992	7,136	6,684	7,907	7,844	7,684	7,746
Total Cost of Revenue	4,388	3,816	4,292	4,433	4,515	4,210	4,937	4,939	4,817	4,787
Operating Cost of Revenue	4,388	3,816	4,292	4,433	4,515	4,210	4,937	4,939	4,817	4,787
Total Operating Expenses	1,647	1,519	1,722	1,716	1,646	1,536	1,688	1,625	1,648	1,154
Selling, General & Admin Expense	1,647	1,519	1,722	1,716	1,599	1,541	1,688	1,625	1,648	1,752
Other Special Charges / (Income)	-	-	-	-	-	-5.21	-	0.00	0.00	-598
Total Other Income / (Expense), net	-120	-24	69	-118	-108	-96	119	-89	-96	-47
Interest Expense	132	136	145	131	126	112	106	116	131	131
Interest & Investment Income	4.42	6.75	8.49	8.88	4.53	3.57	4.44	4.43	13	37
Other Income / (Expense), net	7.11	105	205	4.36	13	12	221	23	21	47
Income Tax Expense	205	183	129	134	165	158	277	200	179	357
Net Income / (Loss) Discontinued Operations	274	6.76	65	-21	-	-	-	75	113	1,297
Basic Earnings per Share	$5.52	$3.28	$5.21	$3.80	$4.67	$4.74	$7.81	$7.47	$7.56	$19.58
Weighted Average Basic Shares Outstanding	157.62M	155.23M	155.69M	149.87M	145.20M	144.05M	143.92M	142.68M	139.85M	137.74M
Diluted Earnings per Share	$5.46	$3.25	$5.15	$3.75	$4.61	$4.70	$7.74	$7.42	$7.52	$19.45
Weighted Average Diluted Shares Outstanding	159.17M	156.64M	157.74M	152.13M	146.99M	145.39M	145.27M	143.60M	140.60M	138.70M
Weighted Average Basic & Diluted Shares Outstanding	157.60M	155.20M	154.42M	150.10M	288.66M	143.65M	144.05M	139.71M	139.90M	137.23M
Cash Dividends to Common per Share	$1.64	$1.72	$1.82	$1.90	$1.94	$1.97	$1.99	$2.01	$2.03	$2.05

This table shows Dover's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	286	264	229	242	290	296	632	282	347	1,436	231
Consolidated Net Income / (Loss)	286	264	229	242	290	296	632	282	347	1,436	231
Net Income / (Loss) Continuing Operations	286	188	229	242	262	211	632	282	313	173	239
Total Pre-Tax Income	353	226	286	300	318	218	799	353	386	219	295
Total Operating Income	370	253	315	324	337	244	294	369	334	209	296
Total Gross Profit	773	608	747	759	739	622	757	822	763	617	746
Total Revenue	2,158	1,475	2,079	2,100	1,958	1,547	2,094	2,178	1,984	1,490	1,866
Operating Revenue	2,158	1,475	2,079	2,100	1,958	1,547	2,094	2,178	1,984	1,490	1,866
Total Cost of Revenue	1,386	868	1,332	1,341	1,219	925	1,337	1,357	1,220	874	1,121
Operating Cost of Revenue	1,386	868	1,332	1,341	1,219	925	1,337	1,357	1,220	874	1,121
Total Operating Expenses	402	355	432	434	403	379	463	452	430	-190	447
Selling, General & Admin Expense	402	355	432	434	403	379	463	452	430	407	449
Other Special Charges / (Income)	-	-	-	-	-	-	-	-	-	-	-2.47
Total Other Income / (Expense), net	-17	-27	-28	-24	-18	-25	505	-16	53	-589	-3.40
Interest Expense	30	33	34	34	32	31	36	32	34	28	28
Interest & Investment Income	1.24	1.46	2.09	2.65	3.81	4.94	4.76	4.08	5.18	23	20
Other Income / (Expense), net	11	4.75	3.81	6.68	10	0.71	536	12	82	-583	3.96
Income Tax Expense	67	38	58	58	56	7.38	167	71	73	45	56
Net Income / (Loss) Discontinued Operations	-	-	-	-	28	-	-	-	34	-	-8.42
Basic Earnings per Share	$2.01	$1.88	$1.64	$1.73	$2.07	$2.12	$4.55	$2.05	$2.53	$10.45	$1.68
Weighted Average Basic Shares Outstanding	142.51M	142.68M	139.76M	139.86M	139.88M	139.85M	139.05M	137.44M	137.25M	137.74M	137.27M
Diluted Earnings per Share	$2.00	$1.86	$1.63	$1.72	$2.06	$2.11	$4.52	$2.04	$2.51	$10.38	$1.67
Weighted Average Diluted Shares Outstanding	143.26M	143.60M	140.62M	140.58M	140.62M	140.60M	139.87M	138.40M	138.22M	138.70M	138.26M
Weighted Average Basic & Diluted Shares Outstanding	140.35M	139.71M	139.85M	139.87M	139.89M	139.90M	137.43M	137.46M	137.19M	137.23M	137.10M
Cash Dividends to Common per Share	$0.51	-	$0.51	$0.51	$0.51	-	$0.51	$0.51	$0.52	-	$0.52

This table details how cash moves in and out of Dover's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-319	-13	405	-358	1.03	116	-128	-4.64	35	1,429
Net Cash From Operating Activities	949	735	739	789	945	1,105	1,116	747	1,220	1,088
Net Cash From Continuing Operating Activities	949	735	739	789	945	1,105	1,116	747	1,220	1,088
Net Income / (Loss) Continuing Operations	596	502	747	591	678	683	1,124	990	944	1,400
Consolidated Net Income / (Loss)	870	509	812	570	678	683	1,124	1,065	1,057	2,697
Net Income / (Loss) Discontinued Operations	274	6.76	65	-21	-	-	-	75	113	1,297
Depreciation Expense	327	250	283	283	272	279	290	296	305	338
Non-Cash Adjustments To Reconcile Net Income	71	-45	-157	39	112	38	-158	39	39	-562
Changes in Operating Assets and Liabilities, net	-45	28	-134	-124	-117	104	-140	-577	-68	-88
Net Cash From Investing Activities	-35	-1,481	208	-245	-384	-481	-993	-521	-718	-27
Net Cash From Continuing Investing Activities	-35	-1,481	208	-245	-384	-481	-993	-521	-718	-27
Purchase of Property, Plant & Equipment	-154	-140	-170	-171	-187	-166	-171	-211	-183	-168
Acquisitions	-568	-1,562	-27	-69	-216	-336	-1,112	-313	-534	-635
Divestitures	689	206	373	3.94	24	15	275	0.00	0.00	769
Other Investing Activities, net	1.35	-1.06	21	-16	-10	-2.51	8.74	3.09	-0.69	6.97
Net Cash From Financing Activities	-1,092	634	-593	-898	-558	-506	-250	-260	-568	-1,272
Net Cash From Continuing Financing Activities	-1,092	634	-593	-898	-558	-506	-250	-260	-568	-1,272
Repayment of Debt	-627	-1.89	-186	-363	-807	-2.52	-4.42	-2.97	-4.13	-4.32
Repurchase of Common Equity	-600	0.00	-105	-895	-143	-106	-22	-585	0.00	-500
Payment of Dividends	-258	-268	-284	-284	-282	-284	-287	-288	-284	-283
Issuance of Debt	394	911	0.00	0.00	712	-85	105	630	-267	-468
Other Financing Activities, net	-1.01	-7.27	-18	643	-37	-28	-42	-15	-12	-17
Effect of Exchange Rate Changes	-26	-4.74	1.47	11	-1.98	-1.32	-0.80	-9.17	-6.67	-6.35
Other Net Changes in Cash	-116	104	49	-14	-	-	-	39	108	1,646
Cash Interest Paid	128	131	141	132	127	108	102	112	127	126
Cash Income Taxes Paid	346	170	338	135	191	200	234	354	332	908

This table details how cash moves in and out of Dover's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-209	75	-108	13	15	115	514	-601	68	1,448	-40
Net Cash From Operating Activities	265	280	241	195	284	499	167	204	279	439	157
Net Cash From Continuing Operating Activities	265	280	241	195	284	499	167	204	279	439	157
Net Income / (Loss) Continuing Operations	286	188	229	242	215	258	632	282	248	238	239
Consolidated Net Income / (Loss)	286	264	229	242	290	296	632	282	347	1,436	231
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	38	-	-	-	1,198	-8.42
Depreciation Expense	77	65	78	79	71	78	85	86	81	87	87
Non-Cash Adjustments To Reconcile Net Income	14	8.10	12	6.44	6.11	14	-515	10	-61	3.56	21
Changes in Operating Assets and Liabilities, net	-112	19	-77	-132	-7.37	149	-36	-174	11	110	-191
Net Cash From Investing Activities	-286	-119	-44	-42	-45	-587	430	28	-395	-90	-74
Net Cash From Continuing Investing Activities	-286	-119	-44	-42	-45	-587	430	28	-395	-90	-74
Purchase of Property, Plant & Equipment	-65	-45	-48	-40	-38	-57	-44	-41	-28	-54	-48
Acquisitions	-221	-84	0.00	-	-7.17	-526	-145	-	-458	-33	-29
Divestitures	-	-	0.00	-	-	-	612	63	93	1.16	3.80
Other Investing Activities, net	-0.22	14	4.82	-2.38	-0.22	-2.91	7.47	6.04	-1.80	-4.74	-0.51
Net Cash From Financing Activities	-179	-127	-307	-138	-313	189	-81	-831	93	-453	-122
Net Cash From Continuing Financing Activities	-179	-127	-307	-138	-313	189	-81	-831	93	-453	-122
Repayment of Debt	-1.07	-0.38	-1.60	-0.75	-0.82	-0.96	-1.13	-0.95	-1.29	-0.96	-1.17
Repurchase of Common Equity	-500	-	0.00	-	-	-	-500	-	-	-	-41
Payment of Dividends	-73	-71	-71	-71	-71	-71	-71	-70	-71	-71	-71
Issuance of Debt	395	-53	-221	-68	-239	261	501	-759	169	-379	0.04
Other Financing Activities, net	-0.17	-2.36	-13	1.92	-1.27	0.20	-8.91	-1.00	-3.82	-2.87	-9.00
Effect of Exchange Rate Changes	-8.94	1.77	0.40	-1.53	-5.18	-0.36	-1.57	-2.37	-2.63	0.23	0.25
Other Net Changes in Cash	-	-	-	-	-	14	-	-	-	1,552	-0.86

This table presents Dover's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	8,606	10,116	10,658	8,366	8,669	9,152	10,404	10,897	11,349	12,509
Total Current Assets	2,419	2,589	2,790	2,504	2,548	2,619	3,062	3,423	3,390	4,484
Cash & Equivalents	362	349	754	396	397	513	386	381	399	1,845
Accounts Receivable	1,120	1,265	1,184	1,232	1,217	1,137	1,348	1,517	1,321	1,354
Inventories, net	803	870	677	749	806	836	1,191	1,367	1,144	1,145
Prepaid Expenses	133	104	176	127	128	133	138	159	139	141
Other Current Assets	-	-	-	-	-	-	-	-	193	0.00
Other Current Nonoperating Assets	-	-	-	-	-	-	-	0.00	194	0.00
Plant, Property, & Equipment, net	854	946	788	806	842	0.00	0.00	1,005	978	988
Total Noncurrent Assets	5,333	6,581	7,080	5,056	5,279	6,533	7,342	6,468	6,980	7,037
Goodwill	3,737	4,563	3,686	3,677	3,783	4,073	4,559	4,669	4,638	4,906
Intangible Assets	1,413	1,803	1,283	1,134	1,055	1,084	1,360	1,334	1,445	1,581
Other Noncurrent Operating Assets	182	216	246	244	440	1,377	1,424	465	555	550
Other Noncurrent Nonoperating Assets	-	-	1,866	-	0.00	-	-	-	342	0.00
Total Liabilities & Shareholders' Equity	8,606	10,116	10,658	8,366	8,669	9,152	10,404	10,897	11,349	12,509
Total Liabilities	4,962	6,316	6,275	5,597	5,637	5,766	6,214	6,610	6,242	5,555
Total Current Liabilities	1,367	1,940	2,142	1,827	1,748	1,739	2,250	2,773	2,414	2,197
Short-Term Debt	151	415	581	220	85	0.00	106	736	468	400
Accounts Payable	651	830	882	970	921	854	1,074	1,068	854	848
Accrued Expenses	100	96	102	98	98	99	101	93	151	88
Current Deferred Revenue	-	-	-	-	105	185	228	257	195	199
Current Deferred & Payable Income Tax Liabilities	6.53	40	15	14	18	18	92	31	37	34
Current Employee Benefit Liabilities	223	226	228	213	227	240	303	270	259	292
Other Current Liabilities	236	333	334	313	295	344	347	318	297	335
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	0.00	153	0.00
Total Noncurrent Liabilities	3,594	4,376	4,133	3,770	3,889	4,028	3,964	3,837	3,828	3,359
Long-Term Debt	2,604	3,207	2,987	2,944	2,986	3,109	3,019	2,943	2,992	2,529
Noncurrent Deferred Revenue	-	-	108	54	52	50	48	44	28	6.16
Noncurrent Deferred & Payable Income Tax Liabilities	576	710	348	339	322	298	364	375	346	352
Other Noncurrent Operating Liabilities	415	459	426	432	529	570	533	475	427	471
Other Noncurrent Nonoperating Liabilities	-	-	264	-	-	-	-	-	35	0.00
Total Equity & Noncontrolling Interests	3,645	3,800	4,383	2,769	3,033	3,386	4,190	4,286	5,107	6,954
Total Preferred & Common Equity	3,645	3,800	4,383	2,769	3,033	3,386	4,190	4,286	5,107	6,954
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,645	3,800	4,383	2,769	3,033	3,386	4,190	4,286	5,107	6,954
Common Stock	1,185	1,203	1,199	1,144	1,128	1,128	1,117	1,127	1,147	1,153
Retained Earnings	7,687	7,928	8,456	7,815	8,211	8,608	9,445	10,223	10,996	13,410
Treasury Stock	-4,972	-4,972	-5,077	-5,948	-6,091	-6,197	-6,219	-6,798	-6,798	-7,281
Accumulated Other Comprehensive Income / (Loss)	-255	-359	-195	-243	-216	-153	-154	-266	-238	-328

This table presents Dover's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	10,652	10,897	10,805	10,902	10,772	11,349	11,987	11,292	11,913	12,509	12,649
Total Current Assets	3,377	3,423	3,316	3,415	3,457	3,390	3,910	3,266	3,746	4,484	4,554
Cash & Equivalents	306	381	272	286	284	399	930	329	387	1,845	1,805
Accounts Receivable	1,497	1,517	1,461	1,561	1,549	1,321	1,519	1,560	1,429	1,354	1,379
Inventories, net	1,408	1,367	1,405	1,396	1,280	1,144	1,246	1,239	1,214	1,145	1,209
Prepaid Expenses	166	159	177	171	154	139	215	138	133	141	160
Plant, Property, & Equipment, net	959	1,005	1,012	1,016	992	978	1,024	1,025	996	988	1,016
Total Noncurrent Assets	6,316	6,468	6,477	6,471	6,323	6,980	7,053	7,000	7,171	7,037	7,079
Goodwill	4,532	4,669	4,681	4,699	4,607	4,638	4,960	4,951	4,974	4,906	4,960
Intangible Assets	1,313	1,334	1,302	1,274	1,236	1,445	1,525	1,482	1,645	1,581	1,564
Other Noncurrent Operating Assets	471	465	495	498	480	555	568	568	551	550	555
Total Liabilities & Shareholders' Equity	10,652	10,897	10,805	10,902	10,772	11,349	11,987	11,292	11,913	12,509	12,649
Total Liabilities	6,661	6,610	6,344	6,239	5,940	6,242	6,834	5,928	6,215	5,555	5,511
Total Current Liabilities	2,889	2,773	2,508	2,424	2,188	2,414	2,984	2,134	2,387	2,197	2,139
Short-Term Debt	789	736	515	446	207	468	969	210	379	400	400
Accounts Payable	1,143	1,068	1,039	1,029	971	854	970	974	865	848	844
Accrued Expenses	105	93	95	87	89	151	89	92	93	88	88
Current Deferred Revenue	246	257	285	261	256	195	242	230	185	199	217
Current Deferred & Payable Income Tax Liabilities	52	31	63	45	34	37	190	72	62	34	64
Current Employee Benefit Liabilities	232	270	192	236	238	259	188	231	250	292	180
Other Current Liabilities	321	318	320	319	325	297	337	324	335	335	345
Total Noncurrent Liabilities	3,772	3,837	3,836	3,815	3,752	3,828	3,850	3,794	3,828	3,359	3,372
Long-Term Debt	2,843	2,943	2,961	2,977	2,945	2,992	2,973	2,961	3,008	2,529	2,573
Noncurrent Deferred Revenue	44	44	44	28	28	28	28	6.16	6.16	6.16	6.16
Noncurrent Deferred & Payable Income Tax Liabilities	389	375	359	341	342	346	349	335	354	352	334
Other Noncurrent Operating Liabilities	496	475	471	470	437	427	499	492	460	471	460
Total Equity & Noncontrolling Interests	0.00	4,286	0.00	0.00	0.00	5,107	0.00	0.00	0.00	6,954	0.00
Total Preferred & Common Equity	3,991	4,286	4,461	4,662	4,833	5,107	5,153	5,364	5,698	6,954	7,138
Total Common Equity	0.00	4,286	0.00	0.00	0.00	5,107	0.00	0.00	0.00	6,954	0.00

This table displays calculated financial ratios and metrics derived from Dover's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-10.27%	-13.13%	12.87%	2.51%	2.06%	-6.34%	18.30%	-0.80%	-2.04%	0.80%
EBITDA Growth	-17.90%	-15.25%	21.82%	-12.77%	11.51%	-2.87%	46.48%	-10.87%	-3.26%	2.93%
EBIT Growth	-24.03%	-12.29%	24.38%	-16.28%	16.56%	-4.35%	59.04%	-13.34%	-4.72%	1.00%
NOPAT Growth	-20.72%	-24.13%	32.30%	-0.12%	14.10%	-3.51%	35.91%	3.52%	-3.71%	-6.21%
Net Income Growth	12.20%	-41.50%	59.50%	-29.74%	18.88%	0.82%	64.43%	-5.20%	-0.80%	155.21%
EPS Growth	18.95%	-41.50%	59.50%	-27.18%	22.93%	1.95%	64.68%	-4.13%	1.35%	158.64%
Operating Cash Flow Growth	-0.12%	-22.60%	0.66%	6.73%	19.78%	16.87%	1.00%	-33.08%	63.31%	-10.80%
Free Cash Flow Firm Growth	23.72%	-238.68%	520.47%	-65.51%	-17.66%	-21.78%	-83.11%	403.75%	92.91%	-5.89%
Invested Capital Growth	5.49%	17.14%	-20.87%	-1.06%	3.06%	4.83%	15.83%	9.46%	3.11%	2.80%
Revenue Q/Q Growth	-3.91%	-9.95%	7.83%	4.27%	-0.47%	0.07%	2.71%	-6.15%	-7.16%	-9.47%
EBITDA Q/Q Growth	-3.92%	-5.55%	9.71%	-4.36%	2.18%	-0.33%	15.58%	-12.82%	-6.64%	-32.58%
EBIT Q/Q Growth	-6.22%	5.57%	3.03%	-6.30%	3.51%	-0.76%	19.29%	-14.90%	-8.19%	-37.92%
NOPAT Q/Q Growth	-4.95%	-7.96%	15.23%	-3.45%	3.38%	-1.12%	1.75%	-0.56%	-4.92%	-14.98%
Net Income Q/Q Growth	-3.06%	3.95%	20.00%	-21.36%	4.08%	2.09%	19.16%	-8.52%	3.19%	73.18%
EPS Q/Q Growth	-5.54%	3.95%	20.00%	-40.94%	32.47%	7.80%	19.26%	-7.94%	3.44%	73.97%
Operating Cash Flow Q/Q Growth	-11.90%	-17.42%	20.10%	12.09%	9.83%	576.58%	-56.75%	-5.99%	15.09%	-13.95%
Free Cash Flow Firm Q/Q Growth	-52.68%	86.58%	636.10%	-67.76%	-24.04%	-16.67%	-89.24%	1,309.13%	-3.54%	98.63%
Invested Capital Q/Q Growth	198.34%	10.12%	-24.61%	-4.86%	-1.09%	0.42%	11.52%	3.65%	3.20%	-3.54%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.92%	36.86%	37.08%	36.61%	36.73%	37.02%	37.56%	37.03%	37.32%	38.20%
EBITDA Margin	18.04%	17.60%	18.99%	16.16%	17.66%	18.31%	22.67%	20.37%	20.12%	20.54%
Operating Margin	13.24%	11.73%	11.83%	12.06%	13.66%	13.96%	16.21%	16.31%	15.87%	15.57%
EBIT Margin	13.34%	13.47%	14.84%	12.12%	13.84%	14.14%	19.00%	16.60%	16.15%	16.18%
Profit (Net Income) Margin	12.50%	8.42%	11.90%	8.16%	9.50%	10.23%	14.21%	13.58%	13.75%	34.82%
Tax Burden Percent	108.65%	74.33%	92.68%	78.62%	80.42%	81.70%	80.23%	89.51%	94.11%	153.51%
Interest Burden Percent	86.29%	84.12%	86.52%	85.59%	85.34%	88.53%	93.22%	91.40%	90.51%	140.20%
Effective Tax Rate	25.57%	26.66%	14.75%	18.51%	19.58%	18.92%	19.77%	16.83%	15.95%	20.32%
Return on Invested Capital (ROIC)	11.65%	7.93%	10.86%	12.34%	13.95%	12.94%	15.93%	14.67%	13.31%	12.12%
ROIC Less NNEP Spread (ROIC-NNEP)	20.01%	7.54%	16.38%	6.47%	10.05%	10.17%	19.52%	14.70%	14.37%	103.54%
Return on Net Nonoperating Assets (RNNOA)	12.03%	5.74%	8.98%	3.60%	9.42%	8.35%	13.74%	10.47%	9.20%	32.60%
Return on Equity (ROE)	23.68%	13.67%	19.84%	15.95%	23.37%	21.30%	29.67%	25.14%	22.50%	44.73%
Cash Return on Invested Capital (CROIC)	6.31%	-7.85%	34.17%	13.41%	10.93%	8.23%	1.26%	5.64%	10.24%	9.36%
Operating Return on Assets (OROA)	10.52%	8.69%	9.75%	8.91%	11.60%	10.60%	15.37%	12.23%	11.16%	10.51%
Return on Assets (ROA)	9.86%	5.44%	7.81%	6.00%	7.96%	7.67%	11.49%	10.00%	9.50%	22.61%
Return on Common Equity (ROCE)	23.68%	13.67%	19.84%	15.95%	23.37%	21.30%	29.67%	25.14%	22.50%	44.73%
Return on Equity Simple (ROE_SIMPLE)	23.87%	13.39%	18.52%	20.60%	22.35%	20.19%	26.82%	24.86%	20.70%	38.79%
Net Operating Profit after Tax (NOPAT)	685	520	688	687	784	756	1,028	1,064	1,025	961
NOPAT Margin	9.85%	8.60%	10.09%	9.83%	10.99%	11.32%	13.00%	13.57%	13.34%	12.41%
Net Nonoperating Expense Percent (NNEP)	-8.36%	0.39%	-5.52%	5.87%	3.90%	2.77%	-3.59%	-0.04%	-1.06%	-91.42%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	13.36%	11.96%	9.73%
Cost of Revenue to Revenue	63.08%	63.14%	62.92%	63.39%	63.27%	62.98%	62.44%	62.97%	62.68%	61.80%
SG&A Expenses to Revenue	23.68%	25.13%	25.25%	24.55%	22.41%	23.06%	21.35%	20.72%	21.45%	22.62%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.68%	25.13%	25.25%	24.55%	23.07%	22.98%	21.35%	20.72%	21.45%	14.90%
Earnings before Interest and Taxes (EBIT)	928	814	1,012	847	988	945	1,503	1,302	1,241	1,253
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,255	1,064	1,296	1,130	1,260	1,224	1,793	1,598	1,546	1,591
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.23	2.69	3.22	3.44	5.17	5.12	6.03	4.32	4.17	3.70
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	55.06
Price to Revenue (P/Rev)	1.17	1.69	2.07	1.36	2.20	2.59	3.19	2.36	2.77	3.32
Price to Earnings (P/E)	9.36	20.10	17.40	16.70	22.35	25.38	22.47	17.39	20.13	9.54
Dividend Yield	3.12%	2.61%	2.01%	2.78%	1.80%	1.64%	1.13%	1.52%	1.33%	1.09%
Earnings Yield	10.69%	4.98%	5.75%	5.99%	4.47%	3.94%	4.45%	5.75%	4.97%	10.48%
Enterprise Value to Invested Capital (EV/IC)	1.74	1.91	3.03	2.22	3.22	3.33	4.04	2.88	3.11	3.34
Enterprise Value to Revenue (EV/Rev)	1.51	2.23	2.48	1.76	2.57	2.98	3.54	2.78	3.17	3.46
Enterprise Value to EBITDA (EV/EBITDA)	8.39	12.69	13.07	10.88	14.56	16.29	15.61	13.66	15.74	16.86
Enterprise Value to EBIT (EV/EBIT)	11.35	16.59	16.73	14.50	18.58	21.10	18.63	16.76	19.61	21.40
Enterprise Value to NOPAT (EV/NOPAT)	15.37	25.96	24.62	17.89	23.41	26.36	27.23	20.51	23.75	27.90
Enterprise Value to Operating Cash Flow (EV/OCF)	11.10	18.38	22.90	15.58	19.41	18.05	25.09	29.23	19.96	24.66
Enterprise Value to Free Cash Flow (EV/FCFF)	28.38	0.00	7.83	16.47	29.86	41.48	344.83	53.37	30.85	36.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.76	0.95	0.81	1.14	1.01	0.92	0.75	0.86	0.68	0.42
Long-Term Debt to Equity	0.71	0.84	0.68	1.06	0.98	0.92	0.72	0.69	0.59	0.36
Financial Leverage	0.60	0.76	0.55	0.56	0.94	0.82	0.70	0.71	0.64	0.31
Leverage Ratio	2.40	2.51	2.54	2.66	2.94	2.78	2.58	2.51	2.37	1.98
Compound Leverage Factor	2.07	2.12	2.20	2.28	2.51	2.46	2.41	2.30	2.14	2.77
Debt to Total Capital	43.05%	48.80%	44.87%	53.33%	50.31%	47.87%	42.72%	46.18%	40.39%	29.64%
Short-Term Debt to Total Capital	2.36%	5.59%	7.31%	3.71%	1.39%	0.00%	1.45%	9.24%	5.47%	4.05%
Long-Term Debt to Total Capital	40.69%	43.21%	37.56%	49.62%	48.92%	47.87%	41.27%	36.94%	34.92%	25.59%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	56.95%	51.20%	55.13%	46.67%	49.69%	52.13%	57.28%	53.82%	59.61%	70.36%
Debt to EBITDA	2.20	3.40	2.75	2.80	2.44	2.54	1.74	2.30	2.24	1.84
Net Debt to EBITDA	1.91	3.08	2.17	2.45	2.12	2.12	1.53	2.06	1.98	0.68
Long-Term Debt to EBITDA	2.07	3.02	2.31	2.60	2.37	2.54	1.68	1.84	1.94	1.59
Debt to NOPAT	4.02	6.96	5.19	4.60	3.92	4.11	3.04	3.46	3.38	3.05
Net Debt to NOPAT	3.49	6.29	4.09	4.03	3.41	3.43	2.66	3.10	2.99	1.13
Long-Term Debt to NOPAT	3.80	6.17	4.34	4.28	3.81	4.11	2.94	2.76	2.92	2.63
Altman Z-Score	3.55	3.01	3.49	3.60	4.30	4.31	5.04	4.18	4.54	5.45
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.77	1.33	1.30	1.37	1.46	1.51	1.36	1.23	1.40	2.04
Quick Ratio	1.08	0.83	0.90	0.89	0.92	0.95	0.77	0.68	0.71	1.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	371	-515	2,164	746	615	481	81	409	789	742
Operating Cash Flow to CapEx	679.61%	590.72%	467.11%	478.05%	517.59%	697.11%	678.77%	353.77%	664.94%	649.32%
Free Cash Flow to Firm to Interest Expense	2.82	-3.79	14.93	5.70	4.88	4.29	0.76	3.51	6.01	5.66
Operating Cash Flow to Interest Expense	7.21	5.40	5.10	6.03	7.51	9.87	10.50	6.41	9.29	8.29
Operating Cash Flow Less CapEx to Interest Expense	6.15	4.49	4.01	4.77	6.06	8.45	8.95	4.60	7.89	7.02
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.79	0.65	0.66	0.74	0.84	0.75	0.81	0.74	0.69	0.65
Accounts Receivable Turnover	6.03	5.07	5.57	5.79	5.83	5.68	6.36	5.48	5.42	5.79
Inventory Turnover	5.27	4.56	5.55	6.22	5.81	5.13	4.87	3.86	3.84	4.18
Fixed Asset Turnover	8.23	6.71	7.87	8.77	8.66	0.00	0.00	0.00	7.75	7.88
Accounts Payable Turnover	6.93	5.15	5.01	4.79	4.78	4.74	5.12	4.61	5.01	5.62
Days Sales Outstanding (DSO)	60.53	72.05	65.52	63.04	62.63	64.29	57.35	66.64	67.40	63.03
Days Inventory Outstanding (DIO)	69.31	80.04	65.80	58.71	62.85	71.18	74.92	94.50	95.12	87.26
Days Payable Outstanding (DPO)	52.66	70.84	72.81	76.23	76.39	76.93	71.25	79.13	72.84	64.90
Cash Conversion Cycle (CCC)	77.18	81.24	58.51	45.52	49.08	58.54	61.02	82.01	89.68	85.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,037	7,072	5,596	5,536	5,706	5,982	6,928	7,584	7,820	8,039
Invested Capital Turnover	1.18	0.92	1.08	1.26	1.27	1.14	1.23	1.08	1.00	0.98
Increase / (Decrease) in Invested Capital	314	1,035	-1,476	-59	169	276	947	655	236	219
Enterprise Value (EV)	10,531	13,500	16,936	12,292	18,349	19,939	27,994	21,825	24,337	26,822
Market Capitalization	8,138	10,228	14,122	9,525	15,676	17,343	25,255	18,527	21,276	25,737
Book Value per Share	$23.52	$24.46	$28.14	$18.92	$20.88	$23.50	$29.10	$30.54	$36.50	$50.69
Tangible Book Value per Share	($9.72)	($16.52)	($3.76)	($13.96)	($12.43)	($12.29)	($12.01)	($12.23)	($6.98)	$3.41
Total Capital	6,399	7,421	7,951	5,933	6,103	6,495	7,314	7,965	8,567	9,883
Total Debt	2,755	3,621	3,568	3,164	3,070	3,109	3,124	3,678	3,460	2,929
Total Long-Term Debt	2,604	3,207	2,987	2,944	2,986	3,109	3,019	2,943	2,992	2,529
Net Debt	2,393	3,272	2,814	2,768	2,673	2,596	2,739	3,297	3,061	1,085
Capital Expenditures (CapEx)	140	124	158	165	183	158	164	211	183	168
Debt-free, Cash-free Net Working Capital (DFCFNWC)	841	714	475	500	488	367	532	1,005	1,046	843
Debt-free Net Working Capital (DFNWC)	1,203	1,063	1,229	897	885	880	917	1,386	1,445	2,688
Net Working Capital (NWC)	1,052	649	648	676	800	880	811	650	976	2,288
Net Nonoperating Expense (NNE)	-185	11	-124	117	106	73	-96	-1.08	-32	-1,736
Net Nonoperating Obligations (NNO)	2,393	3,272	1,213	2,768	2,673	2,596	2,739	3,297	2,713	1,085
Total Depreciation and Amortization (D&A)	327	250	283	283	272	279	290	296	305	338
Debt-free, Cash-free Net Working Capital to Revenue	12.09%	11.82%	6.97%	7.16%	6.84%	5.50%	6.72%	12.81%	13.61%	10.89%
Debt-free Net Working Capital to Revenue	17.29%	17.60%	18.02%	12.82%	12.40%	13.17%	11.60%	17.67%	18.80%	34.70%
Net Working Capital to Revenue	15.12%	10.74%	9.50%	9.67%	11.21%	13.17%	10.26%	8.29%	12.71%	29.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.43	$2.63	$0.00	$3.80	$4.67	$4.74	$7.81	$7.47	$7.56	$19.58
Adjusted Weighted Average Basic Shares Outstanding	196.45M	193.48M	0.00	149.87M	145.20M	144.05M	143.92M	142.68M	139.85M	137.74M
Adjusted Diluted Earnings per Share	$4.38	$2.61	$0.00	$3.75	$4.61	$4.70	$7.74	$7.42	$7.52	$19.45
Adjusted Weighted Average Diluted Shares Outstanding	198.39M	195.23M	0.00	152.13M	146.99M	145.39M	145.27M	143.60M	140.60M	138.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	193.20M	193.81M	0.00	144.94M	288.66M	143.65M	144.05M	139.71M	139.90M	137.23M
Normalized Net Operating Profit after Tax (NOPAT)	685	520	688	687	822	752	1,028	1,064	1,025	485
Normalized NOPAT Margin	9.85%	8.60%	10.09%	9.83%	11.51%	11.25%	13.00%	13.57%	13.34%	6.26%
Pre Tax Income Margin	11.51%	11.33%	12.84%	10.37%	11.81%	12.52%	17.72%	15.17%	14.61%	22.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.05	5.99	6.98	6.47	7.85	8.44	14.13	11.18	9.45	9.55
NOPAT to Interest Expense	5.20	3.82	4.75	5.25	6.23	6.76	9.67	9.14	7.81	7.33
EBIT Less CapEx to Interest Expense	5.99	5.07	5.89	5.21	6.40	7.03	12.59	9.37	8.05	8.28
NOPAT Less CapEx to Interest Expense	4.14	2.91	3.65	3.99	4.78	5.34	8.12	7.33	6.41	6.05
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.66%	52.61%	34.98%	49.73%	41.63%	41.60%	25.53%	26.99%	26.90%	10.50%
Augmented Payout Ratio	98.66%	52.61%	47.92%	206.67%	62.76%	57.15%	27.45%	81.90%	26.90%	29.04%

This table displays calculated financial ratios and metrics derived from Dover's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.94%	-25.84%	1.32%	-2.72%	-9.26%	4.86%	0.72%	3.72%	1.28%	-3.67%	-0.94%
EBITDA Growth	7.69%	-42.15%	4.16%	-6.12%	-8.83%	-0.22%	130.93%	13.97%	18.78%	-189.29%	12.99%
EBIT Growth	8.25%	-46.93%	5.62%	-8.36%	-9.11%	-5.19%	160.82%	15.22%	19.74%	-253.08%	14.89%
NOPAT Growth	8.96%	-5.47%	2.29%	-14.99%	-7.68%	11.85%	-7.33%	12.46%	-2.47%	-29.64%	19.12%
Net Income Growth	8.44%	-27.35%	1.07%	-16.36%	1.30%	12.40%	176.59%	16.34%	19.79%	384.70%	-63.49%
EPS Growth	10.50%	-25.60%	4.49%	-14.00%	3.00%	13.44%	177.30%	18.60%	21.84%	391.94%	-63.05%
Operating Cash Flow Growth	-24.68%	-14.55%	918.81%	9.22%	7.49%	78.27%	-30.96%	4.31%	-2.05%	-11.96%	7.52%
Free Cash Flow Firm Growth	-4,283.77%	38.58%	67.85%	51.82%	102.12%	99.89%	3.30%	66.32%	-2,948.85%	-11,101.26%	133.39%
Invested Capital Growth	17.77%	9.46%	7.41%	8.28%	3.55%	3.11%	6.54%	5.22%	9.99%	2.80%	1.71%
Revenue Q/Q Growth	-0.02%	-31.65%	-2.81%	1.01%	-6.75%	-21.01%	-0.56%	4.03%	-8.94%	-24.87%	25.23%
EBITDA Q/Q Growth	4.90%	-29.57%	-8.22%	3.45%	1.87%	-22.92%	110.08%	-48.95%	6.17%	-157.95%	234.87%
EBIT Q/Q Growth	5.58%	-32.44%	-10.33%	4.01%	4.72%	-29.53%	133.82%	-54.05%	8.83%	-190.09%	180.26%
NOPAT Q/Q Growth	-2.62%	-29.85%	-12.62%	4.31%	5.75%	-15.01%	-27.03%	26.59%	-8.30%	-38.68%	44.85%
Net Income Q/Q Growth	-1.24%	-7.85%	-13.28%	5.98%	19.61%	2.25%	113.40%	-55.42%	23.16%	313.71%	-83.93%
EPS Q/Q Growth	0.00%	-7.00%	-12.37%	5.52%	19.77%	2.43%	114.22%	-54.87%	23.04%	313.55%	-83.91%
Operating Cash Flow Q/Q Growth	48.02%	5.69%	-28.75%	-19.08%	45.68%	75.28%	-67.74%	22.25%	36.81%	57.54%	-64.13%
Free Cash Flow Firm Q/Q Growth	-15.92%	44.67%	24.52%	-20.33%	105.11%	-102.78%	-95.64%	58.09%	-332.39%	89.08%	288.42%
Invested Capital Q/Q Growth	1.58%	3.65%	1.06%	1.76%	-2.85%	3.20%	1.56%	0.50%	1.55%	-3.54%	3.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	35.80%	41.19%	35.93%	36.13%	37.75%	40.23%	36.16%	37.72%	38.48%	41.38%	39.95%
EBITDA Margin	21.22%	21.87%	19.06%	19.52%	21.33%	20.81%	43.71%	21.45%	25.01%	-19.29%	20.78%
Operating Margin	17.16%	17.15%	15.13%	15.45%	17.18%	15.75%	14.05%	16.96%	16.82%	14.04%	15.88%
EBIT Margin	17.68%	17.47%	15.32%	15.77%	17.71%	15.80%	39.66%	17.52%	20.94%	-25.11%	16.09%
Profit (Net Income) Margin	13.25%	17.87%	10.99%	11.53%	14.80%	19.15%	30.19%	12.94%	17.50%	96.36%	12.37%
Tax Burden Percent	81.02%	116.57%	79.84%	80.74%	91.05%	135.62%	79.14%	79.77%	89.85%	657.16%	78.14%
Interest Burden Percent	92.52%	87.72%	89.91%	90.59%	91.76%	89.38%	96.19%	92.59%	93.03%	-58.41%	98.37%
Effective Tax Rate	18.98%	16.80%	20.16%	19.26%	17.68%	3.38%	20.86%	20.23%	19.01%	20.82%	19.01%
Return on Invested Capital (ROIC)	17.18%	15.43%	13.94%	14.10%	15.72%	15.19%	11.87%	14.42%	14.65%	10.86%	12.07%
ROIC Less NNEP Spread (ROIC-NNEP)	16.89%	17.18%	13.63%	13.83%	15.89%	17.21%	16.92%	14.26%	15.62%	77.76%	11.96%
Return on Net Nonoperating Assets (RNNOA)	41.82%	12.24%	0.00%	0.00%	0.00%	11.01%	0.00%	0.00%	0.00%	24.49%	0.00%
Return on Equity (ROE)	59.00%	27.66%	0.00%	0.00%	0.00%	26.20%	0.00%	0.00%	0.00%	35.35%	0.00%
Cash Return on Invested Capital (CROIC)	-0.50%	5.64%	8.36%	6.73%	10.98%	10.24%	7.60%	9.11%	4.70%	9.36%	10.46%
Operating Return on Assets (OROA)	14.38%	12.87%	12.27%	12.31%	13.68%	10.92%	29.42%	13.47%	15.79%	-16.30%	10.10%
Return on Assets (ROA)	10.78%	13.16%	8.81%	9.01%	11.43%	13.23%	22.40%	9.95%	13.20%	62.57%	7.76%
Return on Common Equity (ROCE)	0.00%	27.66%	0.00%	0.00%	0.00%	26.20%	0.00%	0.00%	0.00%	35.35%	0.00%
Return on Equity Simple (ROE_SIMPLE)	29.18%	0.00%	23.94%	21.89%	21.19%	0.00%	28.34%	27.97%	27.33%	0.00%	32.16%
Net Operating Profit after Tax (NOPAT)	300	211	251	262	277	235	233	295	270	166	240
NOPAT Margin	13.90%	14.27%	12.08%	12.48%	14.15%	15.22%	11.12%	13.53%	13.62%	11.12%	12.86%
Net Nonoperating Expense Percent (NNEP)	0.29%	-1.76%	0.31%	0.26%	-0.17%	-2.02%	-5.05%	0.16%	-0.97%	-66.90%	0.11%
Return On Investment Capital (ROIC_SIMPLE)	-	2.64%	-	-	-	2.75%	-	-	-	1.68%	8.07%
Cost of Revenue to Revenue	64.20%	58.81%	64.07%	63.87%	62.25%	59.77%	63.84%	62.28%	61.52%	58.62%	60.05%
SG&A Expenses to Revenue	18.64%	24.04%	20.80%	20.68%	20.57%	24.47%	22.12%	20.76%	21.66%	27.34%	24.07%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.64%	24.04%	20.80%	20.68%	20.57%	24.47%	22.12%	20.76%	21.66%	-12.78%	23.94%
Earnings before Interest and Taxes (EBIT)	382	258	318	331	347	244	830	382	415	-374	300
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	458	323	396	410	418	322	915	467	496	-287	388
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	4.32	0.00	0.00	0.00	4.17	0.00	0.00	0.00	3.70	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	55.06	0.00
Price to Revenue (P/Rev)	1.96	2.36	2.45	2.40	2.33	2.77	2.92	2.91	3.08	3.32	3.12
Price to Earnings (P/E)	14.03	17.39	19.55	19.97	18.82	20.13	16.92	16.53	16.92	9.54	10.50
Dividend Yield	1.76%	1.52%	1.35%	1.39%	1.47%	1.33%	1.15%	1.13%	1.07%	1.09%	1.17%
Earnings Yield	7.13%	5.75%	5.12%	5.01%	5.31%	4.97%	5.91%	6.05%	5.91%	10.48%	9.52%
Enterprise Value to Invested Capital (EV/IC)	2.69	2.88	3.14	3.02	2.92	3.11	3.40	3.37	3.52	3.34	3.04
Enterprise Value to Revenue (EV/Rev)	2.35	2.78	2.82	2.77	2.68	3.17	3.28	3.24	3.43	3.46	3.27
Enterprise Value to EBITDA (EV/EBITDA)	10.73	13.66	13.98	13.87	13.37	15.74	12.47	12.12	12.44	16.86	15.45
Enterprise Value to EBIT (EV/EBIT)	12.85	16.76	17.00	16.97	16.38	19.61	14.60	14.17	14.54	21.40	19.56
Enterprise Value to NOPAT (EV/NOPAT)	18.38	20.51	20.99	21.36	20.54	23.75	25.15	24.33	25.97	27.90	25.23
Enterprise Value to Operating Cash Flow (EV/OCF)	24.76	29.23	23.53	22.62	20.90	19.96	21.98	21.76	23.22	24.66	23.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	53.37	38.94	46.60	27.07	30.85	46.11	37.91	78.54	36.13	29.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.86	0.00	0.00	0.00	0.68	0.00	0.00	0.00	0.42	0.00
Long-Term Debt to Equity	0.00	0.69	0.00	0.00	0.00	0.59	0.00	0.00	0.00	0.36	0.00
Financial Leverage	2.48	0.71	0.00	0.00	0.00	0.64	0.00	0.00	0.00	0.31	0.00
Leverage Ratio	5.28	2.51	0.00	0.00	0.00	2.37	0.00	0.00	0.00	1.98	0.00
Compound Leverage Factor	4.89	2.20	0.00	0.00	0.00	2.12	0.00	0.00	0.00	-1.16	0.00
Debt to Total Capital	100.00%	46.18%	100.00%	100.00%	100.00%	40.39%	100.00%	100.00%	100.00%	29.64%	100.00%
Short-Term Debt to Total Capital	21.72%	9.24%	14.80%	13.04%	6.57%	5.47%	24.58%	6.64%	11.20%	4.05%	13.46%
Long-Term Debt to Total Capital	78.28%	36.94%	85.20%	86.96%	93.43%	34.92%	75.42%	93.36%	88.80%	25.59%	86.54%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	53.82%	0.00%	0.00%	0.00%	59.61%	0.00%	0.00%	0.00%	70.36%	0.00%
Debt to EBITDA	1.98	2.30	2.02	2.02	1.90	2.24	1.77	1.39	1.44	1.84	1.82
Net Debt to EBITDA	1.81	2.06	1.86	1.85	1.73	1.98	1.35	1.25	1.27	0.68	0.71
Long-Term Debt to EBITDA	1.55	1.84	1.72	1.75	1.78	1.94	1.34	1.30	1.27	1.59	1.57
Debt to NOPAT	3.39	3.46	3.03	3.11	2.92	3.38	3.58	2.79	3.00	3.05	2.97
Net Debt to NOPAT	3.11	3.10	2.79	2.85	2.66	2.99	2.73	2.50	2.65	1.13	1.17
Long-Term Debt to NOPAT	2.66	2.76	2.58	2.70	2.73	2.92	2.70	2.61	2.66	2.63	2.57
Altman Z-Score	2.43	3.86	2.95	2.95	2.96	4.25	3.20	3.50	3.51	5.02	3.54
Noncontrolling Interest Sharing Ratio	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.17	1.23	1.32	1.41	1.58	1.40	1.31	1.53	1.57	2.04	2.13
Quick Ratio	0.62	0.68	0.69	0.76	0.84	0.71	0.82	0.89	0.76	1.46	1.49
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-804	-445	-278	-334	17	-0.47	-269	-113	-487	-53	100
Operating Cash Flow to CapEx	406.21%	620.90%	498.78%	487.17%	754.95%	870.47%	374.58%	498.29%	985.28%	814.28%	326.76%
Free Cash Flow to Firm to Interest Expense	-26.99	-13.43	-8.12	-9.88	0.53	-0.02	-7.38	-3.48	-14.26	-1.88	3.63
Operating Cash Flow to Interest Expense	8.88	8.44	7.05	5.78	8.78	16.14	4.58	6.29	8.16	15.51	5.70
Operating Cash Flow Less CapEx to Interest Expense	6.70	7.08	5.64	4.59	7.62	14.28	3.36	5.03	7.34	13.60	3.96
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.81	0.74	0.80	0.78	0.77	0.69	0.74	0.77	0.75	0.65	0.63
Accounts Receivable Turnover	5.87	5.48	5.87	5.51	5.44	5.42	5.67	5.47	5.75	5.79	5.33
Inventory Turnover	4.33	3.86	4.01	3.91	3.92	3.84	4.04	4.08	4.31	4.18	3.85
Fixed Asset Turnover	8.96	0.00	8.66	8.56	8.48	7.75	8.30	8.36	8.61	7.88	7.58
Accounts Payable Turnover	4.87	4.61	5.03	4.87	4.98	5.01	5.33	5.36	5.86	5.62	5.21
Days Sales Outstanding (DSO)	62.19	66.64	62.17	66.22	67.16	67.40	64.35	66.77	63.51	63.03	68.45
Days Inventory Outstanding (DIO)	84.21	94.50	91.04	93.33	93.16	95.12	90.30	89.49	84.68	87.26	94.89
Days Payable Outstanding (DPO)	74.89	79.13	72.62	74.91	73.27	72.84	68.42	68.03	62.33	64.90	70.11
Cash Conversion Cycle (CCC)	71.51	82.01	80.60	84.64	87.04	89.68	86.22	88.22	85.86	85.39	93.23
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,317	7,584	7,664	7,799	7,577	7,820	8,165	8,206	8,334	8,039	8,305
Invested Capital Turnover	1.24	1.08	1.15	1.13	1.11	1.00	1.07	1.07	1.08	0.98	0.94
Increase / (Decrease) in Invested Capital	1,104	655	529	596	260	236	501	407	757	219	140
Enterprise Value (EV)	19,667	21,825	24,079	23,518	22,141	24,337	27,730	27,642	29,356	26,822	25,275
Market Capitalization	16,342	18,527	20,875	20,381	19,274	21,276	24,718	24,799	26,356	25,737	24,108
Book Value per Share	$0.00	$30.54	$0.00	$0.00	$0.00	$36.50	$0.00	$0.00	$0.00	$50.69	$0.00
Tangible Book Value per Share	($40.72)	($12.23)	($42.82)	($42.71)	($41.77)	($6.98)	($46.64)	($46.81)	($48.16)	$3.41	($47.54)
Total Capital	3,632	7,965	3,476	3,423	3,152	8,567	3,942	3,171	3,387	9,883	2,973
Total Debt	3,632	3,678	3,476	3,423	3,152	3,460	3,942	3,171	3,387	2,929	2,973
Total Long-Term Debt	2,843	2,943	2,961	2,977	2,945	2,992	2,973	2,961	3,008	2,529	2,573
Net Debt	3,326	3,297	3,204	3,137	2,868	3,061	3,013	2,843	3,000	1,085	1,167
Capital Expenditures (CapEx)	65	45	48	40	38	57	44	41	28	54	48
Debt-free, Cash-free Net Working Capital (DFCFNWC)	971	1,005	1,049	1,151	1,192	1,046	965	1,014	1,351	843	1,010
Debt-free Net Working Capital (DFNWC)	1,277	1,386	1,322	1,437	1,476	1,445	1,894	1,342	1,738	2,688	2,815
Net Working Capital (NWC)	488	650	807	991	1,269	976	926	1,132	1,359	2,288	2,415
Net Nonoperating Expense (NNE)	14	-53	23	20	-13	-61	-399	13	-77	-1,270	9.17
Net Nonoperating Obligations (NNO)	7,317	3,297	7,664	7,799	7,577	2,713	8,165	8,206	8,334	1,085	8,305
Total Depreciation and Amortization (D&A)	77	65	78	79	71	78	85	86	81	87	87
Debt-free, Cash-free Net Working Capital to Revenue	11.62%	12.81%	12.30%	13.58%	14.40%	13.61%	11.41%	11.88%	15.79%	10.89%	13.06%
Debt-free Net Working Capital to Revenue	15.28%	17.67%	15.49%	16.95%	17.83%	18.80%	22.41%	15.73%	20.31%	34.70%	36.42%
Net Working Capital to Revenue	5.84%	8.29%	9.46%	11.69%	15.33%	12.71%	10.95%	13.27%	15.88%	29.54%	31.25%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.01	$1.88	$1.64	$1.73	$2.07	$2.12	$4.55	$2.05	$2.53	$10.45	$1.68
Adjusted Weighted Average Basic Shares Outstanding	142.51M	142.68M	139.76M	139.86M	139.88M	139.85M	139.05M	137.44M	137.25M	137.74M	137.27M
Adjusted Diluted Earnings per Share	$2.00	$1.86	$1.63	$1.72	$2.06	$2.11	$4.52	$2.04	$2.51	$10.38	$1.67
Adjusted Weighted Average Diluted Shares Outstanding	143.26M	143.60M	140.62M	140.58M	140.62M	140.60M	139.87M	138.40M	138.22M	138.70M	138.26M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	140.35M	139.71M	139.85M	139.87M	139.89M	139.90M	137.43M	137.46M	137.19M	137.23M	137.10M
Normalized Net Operating Profit after Tax (NOPAT)	300	211	251	262	277	235	233	295	270	166	238
Normalized NOPAT Margin	13.90%	14.27%	12.08%	12.48%	14.15%	15.22%	11.12%	13.53%	13.62%	11.12%	12.75%
Pre Tax Income Margin	16.36%	15.33%	13.77%	14.29%	16.25%	14.12%	38.15%	16.22%	19.48%	14.66%	15.83%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.81	7.78	9.31	9.80	10.71	7.91	22.84	11.79	12.17	-13.22	10.88
NOPAT to Interest Expense	10.07	6.35	7.34	7.75	8.55	7.62	6.40	9.10	7.92	5.85	8.69
EBIT Less CapEx to Interest Expense	10.62	6.42	7.89	8.61	9.54	6.06	21.61	10.52	11.34	-15.12	9.13
NOPAT Less CapEx to Interest Expense	7.89	5.00	5.93	6.56	7.39	5.77	5.18	7.84	7.09	3.95	6.95
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	24.79%	26.99%	26.80%	27.93%	27.71%	26.90%	19.51%	18.96%	18.22%	10.50%	12.33%
Augmented Payout Ratio	75.02%	81.90%	26.80%	76.93%	27.71%	26.90%	53.75%	52.30%	50.33%	29.04%	14.10%

Frequently Asked Questions About Dover's Financials

When does Dover's financial year end?

According to the most recent income statement we have on file, Dover's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Dover's net income changed over the last 9 years?

Dover's net income appears to be on an upward trend, with a most recent value of $2.70 billion in 2024, rising from $869.83 million in 2015. The previous period was $1.06 billion in 2023. Find out what analysts predict for Dover in the coming months.

What is Dover's operating income?

Dover's total operating income in 2024 was $1.21 billion, based on the following breakdown:

Total Gross Profit: $2.96 billion
Total Operating Expenses: $1.15 billion

How has Dover revenue changed over the last 9 years?

Over the last 9 years, Dover's total revenue changed from $6.96 billion in 2015 to $7.75 billion in 2024, a change of 11.4%.

How much debt does Dover have?

Dover's total liabilities were at $5.56 billion at the end of 2024, a 11.0% decrease from 2023, and a 12.0% increase since 2015.

How much cash does Dover have?

In the past 9 years, Dover's cash and equivalents has ranged from $349.15 million in 2016 to $1.84 billion in 2024, and is currently $1.84 billion as of their latest financial filing in 2024.

How has Dover's book value per share changed over the last 9 years?

Over the last 9 years, Dover's book value per share changed from 23.52 in 2015 to 50.69 in 2024, a change of 115.5%.

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This page (NYSE:DOV) was last updated on 5/6/2025 by MarketBeat.com Staff

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Dover (DOV) Financials

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Dover (DOV) Financials

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