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Dover (DOV) Financials

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$173.15 -4.95 (-2.78%)
Closing price 09/12/2025 03:59 PM Eastern
Extended Trading
$172.76 -0.38 (-0.22%)
As of 09/12/2025 07:54 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Dover

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 775 870 509 812 570 701 683 1,124 1,065 1,057 2,697
Consolidated Net Income / (Loss)		 775 870 509 812 570 678 683 1,124 1,065 1,057 2,697
Net Income / (Loss) Continuing Operations		 778 596 502 747 591 701 678 1,124 990 944 1,400
Total Pre-Tax Income 		1,094 801 685 876 725 843 837 1,401 1,190 1,123 1,757
Total Operating Income		 1,215 921 709 807 843 975 933 1,282 1,280 1,219 1,206
Total Gross Profit		 2,974 2,568 2,228 2,529 2,560 2,621 2,474 2,970 2,905 2,868 2,959
Total Revenue		 7,753 6,956 6,043 6,821 6,992 7,136 6,684 7,907 7,844 7,684 7,746
Operating Revenue		 7,753 6,956 6,043 6,821 6,992 7,136 6,684 7,907 7,844 7,684 7,746
Total Cost of Revenue		 4,778 4,388 3,816 4,292 4,433 4,515 4,210 4,937 4,939 4,817 4,787
Operating Cost of Revenue		 4,778 4,388 3,816 4,292 4,433 4,515 4,210 4,937 4,939 4,817 4,787
Total Operating Expenses		 1,759 1,647 1,519 1,722 1,716 1,646 1,536 1,688 1,625 1,648 1,154
Selling, General & Admin Expense		 1,759 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		 -121 -120 -24 69 -118 -108 -96 119 -89 -96 -47
Interest Expense		 132 132 136 145 131 126 112 106 116 131 131
Interest & Investment Income		 4.51 4.42 6.75 8.49 8.88 4.53 3.57 4.44 4.43 13 37
Other Income / (Expense), net		 5.90 7.11 105 205 4.36 13 12 221 23 21 47
Income Tax Expense		 316 205 183 129 134 165 158 277 200 179 357
Net Income / (Loss) Discontinued Operations		 -2.91 274 6.76 65 -21 - - - 75 113 1,297
Basic Earnings per Share		 $4.65 $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		 166.69M 157.62M 155.23M 155.69M 149.87M 145.20M 144.05M 143.92M 142.68M 139.85M 137.74M
Diluted Earnings per Share		 $4.59 $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		 168.84M 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		 166.70M 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		 $1.55 $1.64 $1.72 $1.82 $1.90 $1.94 $1.97 $1.99 $2.01 $2.03 $2.05

Quarterly Income Statements for Dover

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 264 229 242 290 296 632 282 347 1,436 231 279
Consolidated Net Income / (Loss)		 264 229 242 290 296 632 282 347 1,436 231 279
Net Income / (Loss) Continuing Operations		 188 229 242 262 211 602 247 313 173 239 280
Total Pre-Tax Income 		226 286 300 318 218 760 307 386 219 295 352
Total Operating Income		 253 315 324 337 244 254 323 334 209 296 355
Total Gross Profit		 608 747 759 739 622 697 753 763 617 746 818
Total Revenue		 1,475 2,079 2,100 1,958 1,547 1,884 1,949 1,984 1,490 1,866 2,050
Operating Revenue		 1,475 2,079 2,100 1,958 1,547 1,884 1,949 1,984 1,490 1,866 2,050
Total Cost of Revenue		 868 1,332 1,341 1,219 925 1,187 1,196 1,220 874 1,121 1,231
Operating Cost of Revenue		 868 1,332 1,341 1,219 925 1,187 1,196 1,220 874 1,121 1,231
Total Operating Expenses		 355 432 434 403 379 -87 430 430 -190 447 461
Selling, General & Admin Expense		 355 432 434 403 379 443 429 430 407 449 464
Other Special Charges / (Income)		 - - - - - -530 0.66 - - -2.47 -2.18
Total Other Income / (Expense), net		 -27 -28 -24 -18 -25 -24 -15 53 -589 -3.40 -4.68
Interest Expense		 33 34 34 32 31 36 32 34 28 28 27
Interest & Investment Income		 1.46 2.09 2.65 3.81 4.94 4.76 4.08 5.18 23 20 18
Other Income / (Expense), net		 4.75 3.81 6.68 10 0.71 7.14 13 82 -583 3.96 4.18
Income Tax Expense		 38 58 58 56 7.38 158 61 73 45 56 72
Net Income / (Loss) Discontinued Operations		 - - - 28 - 30 35 34 - -8.42 -1.07
Basic Earnings per Share		 $1.88 $1.64 $1.73 $2.07 $2.12 $4.55 $2.05 $2.53 $10.45 $1.68 $2.03
Weighted Average Basic Shares Outstanding		 142.68M 139.76M 139.86M 139.88M 139.85M 139.05M 137.44M 137.25M 137.74M 137.27M 137.23M
Diluted Earnings per Share		 $1.86 $1.63 $1.72 $2.06 $2.11 $4.52 $2.04 $2.51 $10.38 $1.67 $2.02
Weighted Average Diluted Shares Outstanding		 143.60M 140.62M 140.58M 140.62M 140.60M 139.87M 138.40M 138.22M 138.70M 138.26M 137.97M
Weighted Average Basic & Diluted Shares Outstanding		 139.71M 139.85M 139.87M 139.89M 139.90M 137.43M 137.46M 137.19M 137.23M 137.10M 137.13M
Cash Dividends to Common per Share		 - $0.51 $0.51 $0.51 - $0.51 $0.51 $0.52 - $0.52 $0.52

Annual Cash Flow Statements for Dover

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 -122 -319 -13 405 -358 1.03 116 -128 -4.64 35 1,429
Net Cash From Operating Activities		 950 949 735 739 789 945 1,105 1,116 747 1,220 1,088
Net Cash From Continuing Operating Activities		 950 949 735 739 789 945 1,105 1,116 747 1,220 1,088
Net Income / (Loss) Continuing Operations		 778 596 502 747 591 678 683 1,124 990 944 1,400
Consolidated Net Income / (Loss)		 775 870 509 812 570 678 683 1,124 1,065 1,057 2,697
Net Income / (Loss) Discontinued Operations		 -2.91 274 6.76 65 -21 - - - 75 113 1,297
Depreciation Expense		 307 327 250 283 283 272 279 290 296 305 338
Non-Cash Adjustments To Reconcile Net Income		 47 71 -45 -157 39 112 38 -158 39 39 -562
Changes in Operating Assets and Liabilities, net		 -182 -45 28 -134 -124 -117 104 -140 -577 -68 -88
Net Cash From Investing Activities		 -783 -35 -1,481 208 -245 -384 -481 -993 -521 -718 -27
Net Cash From Continuing Investing Activities		 -783 -35 -1,481 208 -245 -384 -481 -993 -521 -718 -27
Purchase of Property, Plant & Equipment		 -166 -154 -140 -170 -171 -187 -166 -171 -211 -183 -168
Acquisitions		 -802 -568 -1,562 -27 -69 -216 -336 -1,112 -313 -534 -635
Divestitures		 191 689 206 373 3.94 24 15 275 0.00 0.00 769
Other Investing Activities, net		 -20 1.35 -1.06 21 -16 -10 -2.51 8.74 3.09 -0.69 6.97
Net Cash From Financing Activities		 -255 -1,092 634 -593 -898 -558 -506 -250 -260 -568 -1,272
Net Cash From Continuing Financing Activities		 -255 -1,092 634 -593 -898 -558 -506 -250 -260 -568 -1,272
Repayment of Debt		 245 -627 -1.89 -186 -363 -807 -2.52 -4.42 -2.97 -4.13 -4.32
Repurchase of Common Equity		 -601 -600 0.00 -105 -895 -143 -106 -22 -585 0.00 -500
Payment of Dividends		 -258 -258 -268 -284 -284 -282 -284 -287 -288 -284 -283
Issuance of Debt		 0.00 394 911 0.00 0.00 712 -85 105 630 -267 -468
Other Financing Activities, net		 359 -1.01 -7.27 -18 643 -37 -28 -42 -15 -12 -17
Effect of Exchange Rate Changes		 -40 -26 -4.74 1.47 11 -1.98 -1.32 -0.80 -9.17 -6.67 -6.35
Other Net Changes in Cash		 6.01 -116 104 49 -14 - - - 39 108 1,646
Cash Interest Paid		 128 128 131 141 132 127 108 102 112 127 126
Cash Income Taxes Paid		 372 346 170 338 135 191 200 234 354 332 908

Quarterly Cash Flow Statements for Dover

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Net Change in Cash & Equivalents		 75 -108 13 15 115 514 -601 68 1,448 -40 -540
Net Cash From Operating Activities		 280 241 195 284 499 146 204 279 439 157 212
Net Cash From Continuing Operating Activities		 280 241 195 284 499 146 204 279 439 157 212
Net Income / (Loss) Continuing Operations		 188 229 242 215 258 602 282 248 238 239 280
Consolidated Net Income / (Loss)		 264 229 242 290 296 632 282 347 1,436 231 279
Net Income / (Loss) Discontinued Operations		 - - - - 38 30 - - 1,198 -8.42 -1.07
Depreciation Expense		 65 78 79 71 78 82 86 81 87 87 94
Non-Cash Adjustments To Reconcile Net Income		 8.10 12 6.44 6.11 14 -515 10 -61 3.56 21 4.83
Changes in Operating Assets and Liabilities, net		 19 -77 -132 -7.37 149 -22 -174 11 110 -191 -167
Net Cash From Investing Activities		 -119 -44 -42 -45 -587 432 28 -395 -90 -74 -682
Net Cash From Continuing Investing Activities		 -119 -44 -42 -45 -587 432 28 -395 -90 -74 -682
Purchase of Property, Plant & Equipment		 -45 -48 -40 -38 -57 -40 -41 -28 -54 -48 -61
Acquisitions		 -84 0.00 - -7.17 -526 -145 - -458 -33 -29 -629
Divestitures		 - 0.00 - - - 612 63 93 1.16 3.80 2.19
Other Investing Activities, net		 14 4.82 -2.38 -0.22 -2.91 5.61 6.04 -1.80 -4.74 -0.51 6.35
Net Cash From Financing Activities		 -127 -307 -138 -313 189 -81 -831 93 -453 -122 -84
Net Cash From Continuing Financing Activities		 -127 -307 -138 -313 189 -81 -831 93 -453 -122 -84
Repayment of Debt		 -0.38 -1.60 -0.75 -0.82 -0.96 -1.13 -0.95 -1.29 -0.96 -1.17 -12
Payment of Dividends		 -71 -71 -71 -71 -71 -71 -70 -71 -71 -71 -71
Issuance of Debt		 -53 -221 -68 -239 261 501 -759 169 -379 0.04 0.05
Other Financing Activities, net		 -2.36 -13 1.92 -1.27 0.20 -8.91 -1.00 -3.82 -2.87 -9.00 -1.29
Effect of Exchange Rate Changes		 1.77 0.40 -1.53 -5.18 -0.36 -1.57 -2.37 -2.63 0.23 0.25 22
Other Net Changes in Cash		 - - - - 14 18 - - 1,552 -0.86 -9.19

Annual Balance Sheets for Dover

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 9,030 8,606 10,116 10,658 8,366 8,669 9,152 10,404 10,897 11,349 12,509
Total Current Assets		 2,834 2,419 2,589 2,790 2,504 2,548 2,619 3,062 3,423 3,390 4,484
Cash & Equivalents		 682 362 349 754 396 397 513 386 381 399 1,845
Accounts Receivable		 1,187 1,120 1,265 1,184 1,232 1,217 1,137 1,348 1,517 1,321 1,354
Inventories, net		 864 803 870 677 749 806 836 1,191 1,367 1,144 1,145
Prepaid Expenses		 102 133 104 176 127 128 133 138 159 139 141
Plant, Property, & Equipment, net		 837 854 946 788 806 842 0.00 0.00 1,005 978 988
Total Noncurrent Assets		 5,359 5,333 6,581 7,080 5,056 5,279 6,533 7,342 6,468 6,980 7,037
Goodwill		 3,492 3,737 4,563 3,686 3,677 3,783 4,073 4,559 4,669 4,638 4,906
Intangible Assets		 1,370 1,413 1,803 1,283 1,134 1,055 1,084 1,360 1,334 1,445 1,581
Other Noncurrent Operating Assets		 171 182 216 246 244 440 1,377 1,424 465 555 550
Total Liabilities & Shareholders' Equity		 9,030 8,606 10,116 10,658 8,366 8,669 9,152 10,404 10,897 11,349 12,509
Total Liabilities		 5,330 4,962 6,316 6,275 5,597 5,637 5,766 6,214 6,610 6,242 5,555
Total Current Liabilities		 2,039 1,367 1,940 2,142 1,827 1,748 1,739 2,250 2,773 2,414 2,197
Short-Term Debt		 778 151 415 581 220 85 0.00 106 736 468 400
Accounts Payable		 615 651 830 882 970 921 854 1,074 1,068 854 848
Accrued Expenses		 96 100 96 102 98 98 99 101 93 151 88
Current Deferred Revenue		 - - - - - 105 185 228 257 195 199
Current Deferred & Payable Income Tax Liabilities		 11 6.53 40 15 14 18 18 92 31 37 34
Current Employee Benefit Liabilities		 273 223 226 228 213 227 240 303 270 259 292
Other Current Liabilities		 266 236 333 334 313 295 344 347 318 297 335
Total Noncurrent Liabilities		 3,291 3,594 4,376 4,133 3,770 3,889 4,028 3,964 3,837 3,828 3,359
Long-Term Debt		 2,253 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		 505 576 710 348 339 322 298 364 375 346 352
Other Noncurrent Operating Liabilities		 533 415 459 426 432 529 570 533 475 427 471
Total Equity & Noncontrolling Interests		 3,701 3,645 3,800 4,383 2,769 3,033 3,386 4,190 4,286 5,107 0.00
Total Preferred & Common Equity		 3,701 3,645 3,800 4,383 2,769 3,033 3,386 4,190 4,286 5,107 6,954
Total Common Equity		 3,701 3,645 3,800 4,383 2,769 3,033 3,386 4,190 4,286 5,107 0.00

Quarterly Balance Sheets for Dover

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Total Assets		 10,897 10,805 10,902 10,772 11,349 11,987 11,292 11,913 12,509 12,649 13,161
Total Current Assets		 3,423 3,316 3,415 3,457 3,390 3,910 3,266 3,746 4,484 4,554 4,221
Cash & Equivalents		 381 272 286 284 399 930 329 387 1,845 1,805 1,265
Accounts Receivable		 1,517 1,461 1,561 1,549 1,321 1,519 1,560 1,429 1,354 1,379 1,481
Inventories, net		 1,367 1,405 1,396 1,280 1,144 1,246 1,239 1,214 1,145 1,209 1,306
Prepaid Expenses		 159 177 171 154 139 215 138 133 141 160 169
Plant, Property, & Equipment, net		 1,005 1,012 1,016 992 978 1,024 1,025 996 988 1,016 1,080
Total Noncurrent Assets		 6,468 6,477 6,471 6,323 6,980 7,053 7,000 7,171 7,037 7,079 7,861
Goodwill		 4,669 4,681 4,699 4,607 4,638 4,960 4,951 4,974 4,906 4,960 5,371
Intangible Assets		 1,334 1,302 1,274 1,236 1,445 1,525 1,482 1,645 1,581 1,564 1,900
Other Noncurrent Operating Assets		 465 495 498 480 555 568 568 551 550 555 590
Total Liabilities & Shareholders' Equity		 10,897 10,805 10,902 10,772 11,349 11,987 11,292 11,913 12,509 12,649 13,161
Total Liabilities		 6,610 6,344 6,239 5,940 6,242 6,834 5,928 6,215 5,555 5,511 5,720
Total Current Liabilities		 2,773 2,508 2,424 2,188 2,414 2,984 2,134 2,387 2,197 2,139 2,166
Short-Term Debt		 736 515 446 207 468 969 210 379 400 400 400
Accounts Payable		 1,068 1,039 1,029 971 854 970 974 865 848 844 870
Accrued Expenses		 93 95 87 89 151 89 92 93 88 88 89
Current Deferred Revenue		 257 285 261 256 195 242 230 185 199 217 203
Current Deferred & Payable Income Tax Liabilities		 31 63 45 34 37 190 72 62 34 64 30
Current Employee Benefit Liabilities		 270 192 236 238 259 188 231 250 292 180 230
Other Current Liabilities		 318 320 319 325 297 337 324 335 335 345 344
Total Noncurrent Liabilities		 3,837 3,836 3,815 3,752 3,828 3,850 3,794 3,828 3,359 3,372 3,554
Long-Term Debt		 2,943 2,961 2,977 2,945 2,992 2,973 2,961 3,008 2,529 2,573 2,669
Noncurrent Deferred Revenue		 44 44 28 28 28 28 6.16 6.16 6.16 6.16 0.00
Noncurrent Deferred & Payable Income Tax Liabilities		 375 359 341 342 346 349 335 354 352 334 395
Other Noncurrent Operating Liabilities		 475 471 470 437 427 499 492 460 471 460 491
Total Equity & Noncontrolling Interests		 4,286 0.00 0.00 0.00 5,107 0.00 0.00 0.00 6,954 0.00 0.00
Total Preferred & Common Equity		 4,286 4,461 4,662 4,833 5,107 5,153 5,364 5,698 6,954 7,138 7,441
Total Common Equity		 4,286 0.00 0.00 0.00 5,107 0.00 0.00 0.00 6,954 0.00 0.00

Annual Metrics And Ratios for Dover

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 8.35% -10.27% -13.13% 12.87% 2.51% 2.06% -6.34% 18.30% -0.80% -2.04% 0.80%
EBITDA Growth		 5.81% -17.90% -15.25% 21.82% -12.77% 11.51% -2.87% 46.48% -10.87% -3.26% 2.93%
EBIT Growth		 4.69% -24.03% -12.29% 24.38% -16.28% 16.56% -4.35% 59.04% -13.34% -4.72% 1.00%
NOPAT Growth		 -2.41% -20.72% -24.13% 32.30% -0.12% 14.10% -3.51% 35.91% 3.52% -3.71% -6.21%
Net Income Growth		 -22.72% 12.20% -41.50% 59.50% -29.74% 18.88% 0.82% 64.43% -5.20% -0.80% 155.21%
EPS Growth		 -20.59% 18.95% -41.50% 59.50% -27.18% 22.93% 1.95% 64.68% -4.13% 1.35% 158.64%
Operating Cash Flow Growth		 -3.01% -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		 -87.80% 23.72% -238.68% 520.47% -65.51% -17.66% -21.78% -83.11% 403.75% 92.91% -5.89%
Invested Capital Growth		 10.94% 5.49% 17.14% -20.87% -1.06% 3.06% 4.83% 15.83% 9.46% 3.11% 2.80%
Revenue Q/Q Growth		 6.30% -3.91% -9.95% 7.83% 4.27% -0.47% 0.07% 2.71% -6.15% -7.16% -9.47%
EBITDA Q/Q Growth		 3.28% -3.92% -5.55% 9.71% -4.36% 2.18% -0.33% 15.58% -12.82% -6.64% -32.58%
EBIT Q/Q Growth		 2.54% -6.22% 5.57% 3.03% -6.30% 3.51% -0.76% 19.29% -14.90% -8.19% -37.92%
NOPAT Q/Q Growth		 3.72% -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		 -3.08% -3.06% 3.95% 20.00% -21.36% 4.08% 2.09% 19.16% -8.52% 3.19% 73.18%
EPS Q/Q Growth		 -4.77% -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		 5.98% -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		 -52.15% -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		 174.23% 198.34% 10.12% -24.61% -4.86% -1.09% 0.42% 11.52% 3.65% 3.20% -3.54%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 38.36% 36.92% 36.86% 37.08% 36.61% 36.73% 37.02% 37.56% 37.03% 37.32% 38.20%
EBITDA Margin		 19.72% 18.04% 17.60% 18.99% 16.16% 17.66% 18.31% 22.67% 20.37% 20.12% 20.54%
Operating Margin		 15.68% 13.24% 11.73% 11.83% 12.06% 13.66% 13.96% 16.21% 16.31% 15.87% 15.57%
EBIT Margin		 15.75% 13.34% 13.47% 14.84% 12.12% 13.84% 14.14% 19.00% 16.60% 16.15% 16.18%
Profit (Net Income) Margin		 10.00% 12.50% 8.42% 11.90% 8.16% 9.50% 10.23% 14.21% 13.58% 13.75% 34.82%
Tax Burden Percent		 70.85% 108.65% 74.33% 92.68% 78.62% 80.42% 81.70% 80.23% 89.51% 94.11% 153.51%
Interest Burden Percent		 89.59% 86.29% 84.12% 86.52% 85.59% 85.34% 88.53% 93.22% 91.40% 90.51% 140.20%
Effective Tax Rate		 28.89% 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)		 15.89% 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)		 6.00% 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)		 1.19% 12.03% 5.74% 8.98% 3.60% 9.42% 8.35% 13.74% 10.47% 9.20% 32.60%
Return on Equity (ROE)		 17.08% 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)		 5.51% 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)		 12.28% 10.52% 8.69% 9.75% 8.91% 11.60% 10.60% 15.37% 12.23% 11.16% 10.51%
Return on Assets (ROA)		 7.80% 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)		 17.08% 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)		 20.95% 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)		 864 685 520 688 687 784 756 1,028 1,064 1,025 961
NOPAT Margin		 11.15% 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)		 9.89% -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		 61.64% 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		 22.69% 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% 0.00%
Operating Expenses to Revenue		 22.69% 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)		 1,221 928 814 1,012 847 988 945 1,503 1,302 1,241 1,253
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,529 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)		 2.68 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 0.00 55.06
Price to Revenue (P/Rev)		 1.28 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)		 12.79 9.36 20.10 17.40 16.70 22.35 25.38 22.47 17.39 20.13 9.54
Dividend Yield		 2.59% 3.12% 2.61% 2.01% 2.78% 1.80% 1.64% 1.13% 1.52% 1.33% 1.09%
Earnings Yield		 7.82% 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)		 2.14 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)		 1.58 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)		 8.02 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)		 10.04 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)		 14.19 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)		 12.91 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)		 40.89 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		 0.82 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		 0.61 0.71 0.84 0.68 1.06 0.98 0.92 0.72 0.69 0.59 0.36
Financial Leverage		 0.20 0.60 0.76 0.55 0.56 0.94 0.82 0.70 0.71 0.64 0.31
Leverage Ratio		 2.19 2.40 2.51 2.54 2.66 2.94 2.78 2.58 2.51 2.37 1.98
Compound Leverage Factor		 1.96 2.07 2.12 2.20 2.28 2.51 2.46 2.41 2.30 2.14 2.77
Debt to Total Capital		 45.03% 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		 11.56% 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		 33.47% 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% 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		 54.97% 56.95% 51.20% 55.13% 46.67% 49.69% 52.13% 57.28% 53.82% 59.61% 70.36%
Debt to EBITDA		 1.98 2.20 3.40 2.75 2.80 2.44 2.54 1.74 2.30 2.24 1.84
Net Debt to EBITDA		 1.54 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		 1.47 2.07 3.02 2.31 2.60 2.37 2.54 1.68 1.84 1.94 1.59
Debt to NOPAT		 3.51 4.02 6.96 5.19 4.60 3.92 4.11 3.04 3.46 3.38 3.05
Net Debt to NOPAT		 2.72 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		 2.61 3.80 6.17 4.34 4.28 3.81 4.11 2.94 2.76 2.92 2.63
Altman Z-Score		 3.62 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% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.39 1.77 1.33 1.30 1.37 1.46 1.51 1.36 1.23 1.40 2.04
Quick Ratio		 0.92 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)		 300 371 -515 2,164 746 615 481 81 409 789 742
Operating Cash Flow to CapEx		 626.51% 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		 2.28 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		 7.22 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		 6.06 6.15 4.49 4.01 4.77 6.06 8.45 8.95 4.60 7.89 7.02
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.78 0.79 0.65 0.66 0.74 0.84 0.75 0.81 0.74 0.69 0.65
Accounts Receivable Turnover		 6.85 6.03 5.07 5.57 5.79 5.83 5.68 6.36 5.48 5.42 5.79
Inventory Turnover		 6.05 5.27 4.56 5.55 6.22 5.81 5.13 4.87 3.86 3.84 4.18
Fixed Asset Turnover		 9.54 8.23 6.71 7.87 8.77 8.66 0.00 0.00 0.00 7.75 7.88
Accounts Payable Turnover		 8.40 6.93 5.15 5.01 4.79 4.78 4.74 5.12 4.61 5.01 5.62
Days Sales Outstanding (DSO)		 53.28 60.53 72.05 65.52 63.04 62.63 64.29 57.35 66.64 67.40 63.03
Days Inventory Outstanding (DIO)		 60.31 69.31 80.04 65.80 58.71 62.85 71.18 74.92 94.50 95.12 87.26
Days Payable Outstanding (DPO)		 43.46 52.66 70.84 72.81 76.23 76.39 76.93 71.25 79.13 72.84 64.90
Cash Conversion Cycle (CCC)		 70.12 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		 5,723 6,037 7,072 5,596 5,536 5,706 5,982 6,928 7,584 7,820 8,039
Invested Capital Turnover		 1.42 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		 564 314 1,035 -1,476 -59 169 276 947 655 236 219
Enterprise Value (EV)		 12,265 10,531 13,500 16,936 12,292 18,349 19,939 27,994 21,825 24,337 26,822
Market Capitalization		 9,915 8,138 10,228 14,122 9,525 15,676 17,343 25,255 18,527 21,276 25,737
Book Value per Share		 $22.38 $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		 ($7.02) ($9.72) ($16.52) ($3.76) ($13.96) ($12.43) ($12.29) ($12.01) ($12.23) ($6.98) $3.41
Total Capital		 6,732 6,399 7,421 7,951 5,933 6,103 6,495 7,314 7,965 8,567 9,883
Total Debt		 3,031 2,755 3,621 3,568 3,164 3,070 3,109 3,124 3,678 3,460 2,929
Total Long-Term Debt		 2,253 2,604 3,207 2,987 2,944 2,986 3,109 3,019 2,943 2,992 2,529
Net Debt		 2,349 2,393 3,272 2,814 2,768 2,673 2,596 2,739 3,297 3,061 1,085
Capital Expenditures (CapEx)		 152 140 124 158 165 183 158 164 211 183 168
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 891 841 714 475 500 488 367 532 1,005 1,046 843
Debt-free Net Working Capital (DFNWC)		 1,573 1,203 1,063 1,229 897 885 880 917 1,386 1,445 2,688
Net Working Capital (NWC)		 795 1,052 649 648 676 800 880 811 650 976 2,288
Net Nonoperating Expense (NNE)		 89 -185 11 -124 117 106 73 -96 -1.08 -32 -1,736
Net Nonoperating Obligations (NNO)		 2,022 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)		 307 327 250 283 283 272 279 290 296 305 338
Debt-free, Cash-free Net Working Capital to Revenue		 11.50% 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		 20.29% 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		 10.26% 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		 $3.73 $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		 203.22M 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		 $3.68 $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		 203.22M 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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 203.22M 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)		 864 685 520 688 687 822 752 1,028 1,064 1,025 485
Normalized NOPAT Margin		 11.15% 9.85% 8.60% 10.09% 9.83% 11.51% 11.25% 13.00% 13.57% 13.34% 6.26%
Pre Tax Income Margin		 14.11% 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		 9.27 7.05 5.99 6.98 6.47 7.85 8.44 14.13 11.18 9.45 9.55
NOPAT to Interest Expense		 6.56 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		 8.12 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		 5.41 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		 33.34% 29.66% 52.61% 34.98% 49.73% 41.63% 41.60% 25.53% 26.99% 26.90% 10.50%
Augmented Payout Ratio		 110.88% 98.66% 52.61% 47.92% 206.67% 62.76% 57.15% 27.45% 81.90% 26.90% 29.04%

Quarterly Metrics And Ratios for Dover

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -25.84% 1.32% -2.72% -9.26% 4.86% 0.72% 3.72% 1.28% -3.67% -0.94% 5.17%
EBITDA Growth		 -42.15% 4.16% -6.12% -8.83% -0.22% 130.93% 13.97% 18.78% -189.29% 12.99% 8.14%
EBIT Growth		 -46.93% 5.62% -8.36% -9.11% -5.19% 160.82% 15.22% 19.74% -253.08% 14.89% 6.68%
NOPAT Growth		 -5.47% 2.29% -14.99% -7.68% 11.85% -7.33% 12.46% -2.47% -29.64% 19.12% 8.71%
Net Income Growth		 -27.35% 1.07% -16.36% 1.30% 12.40% 176.59% 16.34% 19.79% 384.70% -63.49% -0.98%
EPS Growth		 -25.60% 4.49% -14.00% 3.00% 13.44% 177.30% 18.60% 21.84% 391.94% -63.05% -0.98%
Operating Cash Flow Growth		 -14.55% 918.81% 9.22% 7.49% 78.27% -30.96% 4.31% -2.05% -11.96% 7.52% 42.34%
Free Cash Flow Firm Growth		 38.58% 67.85% 51.82% 102.12% 99.89% 3.30% 66.32% -2,948.85% -11,101.26% 133.39% -412.76%
Invested Capital Growth		 9.46% 7.41% 8.28% 3.55% 3.11% 6.54% 5.22% 9.99% 2.80% 1.71% 12.66%
Revenue Q/Q Growth		 -31.65% -2.81% 1.01% -6.75% -21.01% -0.56% 4.03% -8.94% -24.87% 25.23% 9.84%
EBITDA Q/Q Growth		 -29.57% -8.22% 3.45% 1.87% -22.92% 110.08% -48.95% 6.17% -157.95% 234.87% 16.89%
EBIT Q/Q Growth		 -32.44% -10.33% 4.01% 4.72% -29.53% 133.82% -54.05% 8.83% -190.09% 180.26% 19.49%
NOPAT Q/Q Growth		 -29.85% -12.62% 4.31% 5.75% -15.01% -27.03% 26.59% -8.30% -38.68% 44.85% 17.55%
Net Income Q/Q Growth		 -7.85% -13.28% 5.98% 19.61% 2.25% 113.40% -55.42% 23.16% 313.71% -83.93% 20.90%
EPS Q/Q Growth		 -7.00% -12.37% 5.52% 19.77% 2.43% 114.22% -54.87% 23.04% 313.55% -83.91% 20.96%
Operating Cash Flow Q/Q Growth		 5.69% -28.75% -19.08% 45.68% 75.28% -67.74% 22.25% 36.81% 57.54% -64.13% 34.84%
Free Cash Flow Firm Q/Q Growth		 44.67% 24.52% -20.33% 105.11% -102.78% -95.64% 58.09% -332.39% 89.08% 288.42% -856.43%
Invested Capital Q/Q Growth		 3.65% 1.06% 1.76% -2.85% 3.20% 1.56% 0.50% 1.55% -3.54% 3.32% 11.32%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 41.19% 35.93% 36.13% 37.75% 40.23% 36.16% 37.72% 38.48% 41.38% 39.95% 39.92%
EBITDA Margin		 21.87% 19.06% 19.52% 21.33% 20.81% 43.71% 21.45% 25.01% -19.29% 20.78% 22.11%
Operating Margin		 17.15% 15.13% 15.45% 17.18% 15.75% 14.05% 16.96% 16.82% 14.04% 15.88% 17.30%
EBIT Margin		 17.47% 15.32% 15.77% 17.71% 15.80% 39.66% 17.52% 20.94% -25.11% 16.09% 17.50%
Profit (Net Income) Margin		 17.87% 10.99% 11.53% 14.80% 19.15% 30.19% 12.94% 17.50% 96.36% 12.37% 13.62%
Tax Burden Percent		 116.57% 79.84% 80.74% 91.05% 135.62% 79.14% 79.77% 89.85% 657.16% 78.14% 79.26%
Interest Burden Percent		 87.72% 89.91% 90.59% 91.76% 89.38% 96.19% 92.59% 93.03% -58.41% 98.37% 98.14%
Effective Tax Rate		 16.80% 20.16% 19.26% 17.68% 3.38% 20.86% 20.23% 19.01% 20.82% 19.01% 20.44%
Return on Invested Capital (ROIC)		 15.43% 13.94% 14.10% 15.72% 15.19% 11.87% 14.42% 14.65% 10.86% 12.07% 12.35%
ROIC Less NNEP Spread (ROIC-NNEP)		 17.18% 13.63% 13.83% 15.89% 17.21% 16.92% 14.26% 15.62% 77.76% 11.96% 12.31%
Return on Net Nonoperating Assets (RNNOA)		 12.24% 0.00% 0.00% 0.00% 11.01% 0.00% 0.00% 0.00% 24.49% 0.00% 0.00%
Return on Equity (ROE)		 27.66% 0.00% 0.00% 0.00% 26.20% 0.00% 0.00% 0.00% 35.35% 0.00% 0.00%
Cash Return on Invested Capital (CROIC)		 5.64% 8.36% 6.73% 10.98% 10.24% 7.60% 9.11% 4.70% 9.36% 10.46% -0.17%
Operating Return on Assets (OROA)		 12.87% 12.27% 12.31% 13.68% 10.92% 29.42% 13.47% 15.79% -16.30% 10.10% 11.21%
Return on Assets (ROA)		 13.16% 8.81% 9.01% 11.43% 13.23% 22.40% 9.95% 13.20% 62.57% 7.76% 8.72%
Return on Common Equity (ROCE)		 27.66% 0.00% 0.00% 0.00% 26.20% 0.00% 0.00% 0.00% 35.35% 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 23.94% 21.89% 21.19% 0.00% 28.34% 27.97% 27.33% 0.00% 32.16% 30.81%
Net Operating Profit after Tax (NOPAT)		 211 251 262 277 235 233 295 270 166 240 282
NOPAT Margin		 14.27% 12.08% 12.48% 14.15% 15.22% 11.12% 13.53% 13.62% 11.12% 12.86% 13.76%
Net Nonoperating Expense Percent (NNEP)		 -1.76% 0.31% 0.26% -0.17% -2.02% -5.05% 0.16% -0.97% -66.90% 0.11% 0.04%
Return On Investment Capital (ROIC_SIMPLE)		 2.64% - - - 2.75% - - - 1.68% 8.07% 9.19%
Cost of Revenue to Revenue		 58.81% 64.07% 63.87% 62.25% 59.77% 63.84% 62.28% 61.52% 58.62% 60.05% 60.08%
SG&A Expenses to Revenue		 24.04% 20.80% 20.68% 20.57% 24.47% 22.12% 20.76% 21.66% 27.34% 24.07% 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% 0.00%
Operating Expenses to Revenue		 24.04% 20.80% 20.68% 20.57% 24.47% 22.12% 20.76% 21.66% -12.78% 23.94% 22.52%
Earnings before Interest and Taxes (EBIT)		 258 318 331 347 244 830 382 415 -374 300 359
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 323 396 410 418 322 915 467 496 -287 388 453
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.32 0.00 0.00 0.00 4.17 0.00 0.00 0.00 3.70 0.00 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 55.06 0.00 0.00
Price to Revenue (P/Rev)		 2.36 2.45 2.40 2.33 2.77 2.92 2.91 3.08 3.32 3.12 3.21
Price to Earnings (P/E)		 17.39 19.55 19.97 18.82 20.13 16.92 16.53 16.92 9.54 10.50 10.96
Dividend Yield		 1.52% 1.35% 1.39% 1.47% 1.33% 1.15% 1.13% 1.07% 1.09% 1.17% 1.12%
Earnings Yield		 5.75% 5.12% 5.01% 5.31% 4.97% 5.91% 6.05% 5.91% 10.48% 9.52% 9.13%
Enterprise Value to Invested Capital (EV/IC)		 2.88 3.14 3.02 2.92 3.11 3.40 3.37 3.52 3.34 3.04 2.91
Enterprise Value to Revenue (EV/Rev)		 2.78 2.82 2.77 2.68 3.17 3.28 3.24 3.43 3.46 3.27 3.44
Enterprise Value to EBITDA (EV/EBITDA)		 13.66 13.98 13.87 13.37 15.74 12.47 12.12 12.44 16.86 15.45 16.13
Enterprise Value to EBIT (EV/EBIT)		 16.76 17.00 16.97 16.38 19.61 14.60 14.17 14.54 21.40 19.56 20.48
Enterprise Value to NOPAT (EV/NOPAT)		 20.51 20.99 21.36 20.54 23.75 25.15 24.33 25.97 27.90 25.23 26.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 29.23 23.53 22.62 20.90 19.96 21.98 21.76 23.22 24.66 23.00 23.17
Enterprise Value to Free Cash Flow (EV/FCFF)		 53.37 38.94 46.60 27.07 30.85 46.11 37.91 78.54 36.13 29.33 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.86 0.00 0.00 0.00 0.68 0.00 0.00 0.00 0.42 0.00 0.00
Long-Term Debt to Equity		 0.69 0.00 0.00 0.00 0.59 0.00 0.00 0.00 0.36 0.00 0.00
Financial Leverage		 0.71 0.00 0.00 0.00 0.64 0.00 0.00 0.00 0.31 0.00 0.00
Leverage Ratio		 2.51 0.00 0.00 0.00 2.37 0.00 0.00 0.00 1.98 0.00 0.00
Compound Leverage Factor		 2.20 0.00 0.00 0.00 2.12 0.00 0.00 0.00 -1.16 0.00 0.00
Debt to Total Capital		 46.18% 100.00% 100.00% 100.00% 40.39% 100.00% 100.00% 100.00% 29.64% 100.00% 100.00%
Short-Term Debt to Total Capital		 9.24% 14.80% 13.04% 6.57% 5.47% 24.58% 6.64% 11.20% 4.05% 13.46% 13.05%
Long-Term Debt to Total Capital		 36.94% 85.20% 86.96% 93.43% 34.92% 75.42% 93.36% 88.80% 25.59% 86.54% 86.95%
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		 53.82% 0.00% 0.00% 0.00% 59.61% 0.00% 0.00% 0.00% 70.36% 0.00% 0.00%
Debt to EBITDA		 2.30 2.02 2.02 1.90 2.24 1.77 1.39 1.44 1.84 1.82 1.84
Net Debt to EBITDA		 2.06 1.86 1.85 1.73 1.98 1.35 1.25 1.27 0.68 0.71 1.08
Long-Term Debt to EBITDA		 1.84 1.72 1.75 1.78 1.94 1.34 1.30 1.27 1.59 1.57 1.60
Debt to NOPAT		 3.46 3.03 3.11 2.92 3.38 3.58 2.79 3.00 3.05 2.97 3.00
Net Debt to NOPAT		 3.10 2.79 2.85 2.66 2.99 2.73 2.50 2.65 1.13 1.17 1.76
Long-Term Debt to NOPAT		 2.76 2.58 2.70 2.73 2.92 2.70 2.61 2.66 2.63 2.57 2.61
Altman Z-Score		 3.86 2.95 2.95 2.96 4.25 3.20 3.50 3.51 5.02 3.54 3.51
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.23 1.32 1.41 1.58 1.40 1.31 1.53 1.57 2.04 2.13 1.95
Quick Ratio		 0.68 0.69 0.76 0.84 0.71 0.82 0.89 0.76 1.46 1.49 1.27
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -445 -278 -334 17 -0.47 -269 -113 -487 -53 100 -757
Operating Cash Flow to CapEx		 620.90% 498.78% 487.17% 754.95% 870.47% 374.58% 498.29% 985.28% 814.28% 326.76% 348.49%
Free Cash Flow to Firm to Interest Expense		 -13.43 -8.12 -9.88 0.53 -0.02 -7.38 -3.48 -14.26 -1.88 3.63 -28.26
Operating Cash Flow to Interest Expense		 8.44 7.05 5.78 8.78 16.14 4.58 6.29 8.16 15.51 5.70 7.93
Operating Cash Flow Less CapEx to Interest Expense		 7.08 5.64 4.59 7.62 14.28 3.36 5.03 7.34 13.60 3.96 5.65
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.74 0.80 0.78 0.77 0.69 0.74 0.77 0.75 0.65 0.63 0.64
Accounts Receivable Turnover		 5.48 5.87 5.51 5.44 5.42 5.67 5.47 5.75 5.79 5.33 5.15
Inventory Turnover		 3.86 4.01 3.91 3.92 3.84 4.04 4.08 4.31 4.18 3.85 3.74
Fixed Asset Turnover		 0.00 8.66 8.56 8.48 7.75 8.30 8.36 8.61 7.88 7.58 7.44
Accounts Payable Turnover		 4.61 5.03 4.87 4.98 5.01 5.33 5.36 5.86 5.62 5.21 5.16
Days Sales Outstanding (DSO)		 66.64 62.17 66.22 67.16 67.40 64.35 66.77 63.51 63.03 68.45 70.89
Days Inventory Outstanding (DIO)		 94.50 91.04 93.33 93.16 95.12 90.30 89.49 84.68 87.26 94.89 97.64
Days Payable Outstanding (DPO)		 79.13 72.62 74.91 73.27 72.84 68.42 68.03 62.33 64.90 70.11 70.76
Cash Conversion Cycle (CCC)		 82.01 80.60 84.64 87.04 89.68 86.22 88.22 85.86 85.39 93.23 97.76
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 7,584 7,664 7,799 7,577 7,820 8,165 8,206 8,334 8,039 8,305 9,246
Invested Capital Turnover		 1.08 1.15 1.13 1.11 1.00 1.07 1.07 1.08 0.98 0.94 0.90
Increase / (Decrease) in Invested Capital		 655 529 596 260 236 501 407 757 219 140 1,039
Enterprise Value (EV)		 21,825 24,079 23,518 22,141 24,337 27,730 27,642 29,356 26,822 25,275 26,926
Market Capitalization		 18,527 20,875 20,381 19,274 21,276 24,718 24,799 26,356 25,737 24,108 25,122
Book Value per Share		 $30.54 $0.00 $0.00 $0.00 $36.50 $0.00 $0.00 $0.00 $50.69 $0.00 $0.00
Tangible Book Value per Share		 ($12.23) ($42.82) ($42.71) ($41.77) ($6.98) ($46.64) ($46.81) ($48.16) $3.41 ($47.54) ($53.03)
Total Capital		 7,965 3,476 3,423 3,152 8,567 3,942 3,171 3,387 9,883 2,973 3,069
Total Debt		 3,678 3,476 3,423 3,152 3,460 3,942 3,171 3,387 2,929 2,973 3,069
Total Long-Term Debt		 2,943 2,961 2,977 2,945 2,992 2,973 2,961 3,008 2,529 2,573 2,669
Net Debt		 3,297 3,204 3,137 2,868 3,061 3,013 2,843 3,000 1,085 1,167 1,804
Capital Expenditures (CapEx)		 45 48 40 38 57 44 41 28 54 48 61
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,005 1,049 1,151 1,192 1,046 965 1,014 1,351 843 1,010 1,190
Debt-free Net Working Capital (DFNWC)		 1,386 1,322 1,437 1,476 1,445 1,894 1,342 1,738 2,688 2,815 2,455
Net Working Capital (NWC)		 650 807 991 1,269 976 926 1,132 1,359 2,288 2,415 2,055
Net Nonoperating Expense (NNE)		 -53 23 20 -13 -61 -399 13 -77 -1,270 9.17 3.06
Net Nonoperating Obligations (NNO)		 3,297 7,664 7,799 7,577 2,713 8,165 8,206 8,334 1,085 8,305 9,246
Total Depreciation and Amortization (D&A)		 65 78 79 71 78 85 86 81 87 87 94
Debt-free, Cash-free Net Working Capital to Revenue		 12.81% 12.30% 13.58% 14.40% 13.61% 11.41% 11.88% 15.79% 10.89% 13.06% 15.21%
Debt-free Net Working Capital to Revenue		 17.67% 15.49% 16.95% 17.83% 18.80% 22.41% 15.73% 20.31% 34.70% 36.42% 31.36%
Net Working Capital to Revenue		 8.29% 9.46% 11.69% 15.33% 12.71% 10.95% 13.27% 15.88% 29.54% 31.25% 26.25%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.88 $1.64 $1.73 $2.07 $2.12 $4.55 $2.05 $2.53 $10.45 $1.68 $2.03
Adjusted Weighted Average Basic Shares Outstanding		 142.68M 139.76M 139.86M 139.88M 139.85M 139.05M 137.44M 137.25M 137.74M 137.27M 137.23M
Adjusted Diluted Earnings per Share		 $1.86 $1.63 $1.72 $2.06 $2.11 $4.52 $2.04 $2.51 $10.38 $1.67 $2.02
Adjusted Weighted Average Diluted Shares Outstanding		 143.60M 140.62M 140.58M 140.62M 140.60M 139.87M 138.40M 138.22M 138.70M 138.26M 137.97M
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		 139.71M 139.85M 139.87M 139.89M 139.90M 137.43M 137.46M 137.19M 137.23M 137.10M 137.13M
Normalized Net Operating Profit after Tax (NOPAT)		 211 251 262 277 235 233 295 270 166 238 280
Normalized NOPAT Margin		 14.27% 12.08% 12.48% 14.15% 15.22% 11.12% 13.53% 13.62% 11.12% 12.75% 13.68%
Pre Tax Income Margin		 15.33% 13.77% 14.29% 16.25% 14.12% 38.15% 16.22% 19.48% 14.66% 15.83% 17.18%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 7.78 9.31 9.80 10.71 7.91 22.84 11.79 12.17 -13.22 10.88 13.39
NOPAT to Interest Expense		 6.35 7.34 7.75 8.55 7.62 6.40 9.10 7.92 5.85 8.69 10.53
EBIT Less CapEx to Interest Expense		 6.42 7.89 8.61 9.54 6.06 21.61 10.52 11.34 -15.12 9.13 11.12
NOPAT Less CapEx to Interest Expense		 5.00 5.93 6.56 7.39 5.77 5.18 7.84 7.09 3.95 6.95 8.26
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 26.99% 26.80% 27.93% 27.71% 26.90% 19.51% 18.96% 18.22% 10.50% 12.33% 12.36%
Augmented Payout Ratio		 81.90% 26.80% 76.93% 27.71% 26.90% 53.75% 52.30% 50.33% 29.04% 14.10% 14.14%

Key Financial Trends

Dover Corporation (NYSE: DOV) has demonstrated steady financial performance over the past few years through its quarterly reports from 2022 to Q2 2025. Below are the key trends and insights from the income statements, balance sheets, and cash flow statements analyzed.

  • Consistent Revenue Growth: Dover's total operating revenue has generally increased from approximately $1.475 billion in Q4 2022 to over $2.05 billion by Q2 2025, showing resilience and growth in demand for its products and services.
  • Improving Net Income: Net income has shown an upward trend, increasing from $263.6 million in Q4 2022 to $279.1 million in Q2 2025 on a quarterly basis, reflecting improved profitability.
  • Robust Operating Cash Flow: Net cash from continuing operating activities rose significantly to $212.3 million in Q2 2025, up from $195.3 million in Q2 2024 and much higher from earlier years, indicating strong cash-generation capability.
  • Substantial Free Cash Flow Invested in Acquisitions: The company invested heavily in acquisitions, with over $629 million spent in Q2 2025 alone, which may contribute to future growth and market expansion.
  • High Goodwill and Intangible Assets Stock: Goodwill and intangible assets increased over time, reflecting strategic acquisitions that may enhance the company’s competitive positioning.
  • Stable Dividend Policy: Dover has maintained consistent dividends per share around $0.51 per quarter, indicating steady shareholder returns without abrupt changes.
  • Share Count Stability: Weighted average diluted shares outstanding have remained relatively stable around 137 million - 140 million shares, implying limited dilution.
  • Rising Debt Levels: Both short-term and long-term debt have increased, with total liabilities rising from about $6.6 billion in 2022 to nearly $5.7 billion by mid-2025. This could increase financial risk, though manageable given cash flow.
  • Large Cash Outflows for Acquisitions and Capital Expenditures: High cash outflows related to acquisitions and property, plant, and equipment purchases have led to large negative investing cash flows, e.g., -$681.6 million in Q2 2025, which may pressure liquidity.
  • Negative Net Change in Cash & Equivalents: Despite strong operating cash flows, Dover faced a significant net decrease in cash and equivalents (-$540 million in Q2 2025), driven primarily by investing and financing activities.

Summary: Dover Corp's financials show a healthy growth trajectory in revenues and profitability, supported by robust operating cash flow. The company is actively investing in acquisitions, which may fuel future expansion but also raise liquidity considerations. While debt levels have increased, the stable dividend payments and managing cash flows reflect operational strength. Investors should watch how these investments translate to earnings growth and how debt management evolves alongside the acquisition strategy.

09/13/25 01:40 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Dover's Financials

When does Dover's fiscal year end?

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

How has Dover's net income changed over the last 10 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 $775.24 million in 2014. The previous period was $1.06 billion in 2023. See Dover's forecast for analyst expectations on what’s next for the company.

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's revenue changed over the last 10 years?

Over the last 10 years, Dover's total revenue changed from $7.75 billion in 2014 to $7.75 billion in 2024, a change of -0.1%.

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 4.2% increase since 2014.

How much cash does Dover have?

In the past 10 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 10 years?

Over the last 10 years, Dover's book value per share changed from 22.38 in 2014 to 50.69 in 2024, a change of 126.5%.


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This page (NYSE:DOV) was last updated on 9/13/2025 by MarketBeat.com Staff
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