Dover Corporation (DOV) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$2.72	$2.74	+0.7%	—	—	—
Q2 26	$2.49	$2.51	+0.8%	—	—	—
Q1 26	$2.39	$2.44	+2.1%	—	—	—
Q4 25	$1.98	$2.05	+3.5%	—	—	—
Q3 25	$2.08	$2.2	+5.8%	—	—	—
Q2 25	$2.18	$2.27	+4.1%	—	—	—
Q1 25	$2.21	$2.36	+6.8%	—	—	—
Q4 24	$1.88	$1.95	+3.7%	—	—	—
Q3 24	$2.43	$2.45	+0.8%	—	—	—
Q2 24	$2.33	$2.35	+0.9%	—	—	—
Q1 24	$2.21	$2.05	-7.2%	—	—	—
Q4 23	$1.93	$1.94	+0.5%	—	—	—
Q3 23	$2.15	$2.16	+0.5%	—	—	—
Q2 23	$2.19	$2.26	+3.2%	—	—	—
Q1 23	$2.07	$2.14	+3.4%	—	—	—
Q4 22	$1.83	$1.9	+3.8%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$7.99	—	—	$8.1B	—
FY24	—	$19.6	—	—	$7.7B	—
FY23	—	$7.56	—	—	$8.4B	—
FY22	—	$7.47	—	—	$8.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$6B	$6.8B	$7B	$7.1B	$6.7B	$7.9B	$8.5B	$8.4B	$7.7B	$8.1B
YoY change	-13.1%	+12.9%	+2.51%	+2.06%	-6.34%	+18.3%	+7.6%	-0.82%	-8.2%	+4.48%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	6B	6.8B	7B	7.1B	6.7B	7.9B	8.5B	8.4B	7.7B	8.1B
Cost of revenue	3.8B	4.3B	4.4B	4.5B	4.2B	4.9B	5.4B	5.4B	4.8B	4.9B
Gross profit	2.2B	2.5B	2.6B	2.6B	2.5B	3B	3.1B	3.1B	3B	3.2B
Gross margin	36.9%	37.1%	36.6%	36.7%	37%	37.6%	36%	36.6%	38.2%	39.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.5B	1.7B	1.7B	1.6B	1.5B	1.7B	1.7B	1.7B	1.8B	1.8B
Operating expenses	1.5B	1.7B	1.7B	1.6B	1.5B	1.7B	1.7B	1.7B	1.8B	1.8B
Operating income	709M	806.9M	843.1M	1B	933M	1.3B	1.4B	1.4B	1.2B	1.4B
Operating margin	11.7%	11.8%	12.1%	14.3%	14%	16.2%	16.2%	16.2%	15.6%	17%
Non-operating income, net	104.9M	205.4M	4.4M	-57.5M	17.1M	221.2M	20.2M	21.5M	644.7M	37.6M
Pretax income	684.6M	875.8M	725.4M	843M	841.7M	1.4B	1.3B	1.3B	1.8B	1.4B
Income tax	182.5M	129.2M	134.2M	165.1M	158.3M	277M	222.1M	213.2M	357M	276.8M
Net income	508.9M	811.7M	570.3M	677.9M	683.5M	1.1B	1.1B	1.1B	2.7B	1.1B
Net margin	8.42%	11.9%	8.16%	9.5%	10.2%	14.2%	12.5%	12.5%	34.8%	13.5%
EBITDA	973.7M	1.1B	1.1B	1.3B	1.2B	1.6B	1.7B	1.7B	1.6B	1.9B
EPS	3.28	5.21	3.8	4.67	4.74	7.81	7.47	7.56	19.6	7.99
Diluted EPS	3.25	5.15	3.75	4.61	4.7	7.74	7.42	7.52	19.4	7.94

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2B	2.1B	2.1B	2.2B	2B	1.9B	1.9B	2B	2.1B	2.1B	2.1B	2.2B
Cost of revenue	1.2B	1.3B	1.3B	1.4B	1.2B	1.2B	1.1B	1.2B	1.2B	1.3B	1.3B	1.3B
Gross profit	739.4M	785.8M	757.3M	821.6M	763.2M	745.7M	745.5M	818.3M	833.6M	820.8M	798.1M	880.6M
Gross margin	37.8%	37.3%	36.2%	37.7%	38.5%	38.6%	40%	39.9%	40.1%	39.1%	38.9%	40.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	402.8M	431.3M	463.1M	452.2M	429.6M	450.7M	449.2M	463.7M	456.4M	475.5M	492.2M	488.8M
Operating expenses	402.8M	431.3M	463.1M	452.2M	429.6M	450.7M	449.2M	463.7M	456.4M	475.5M	492.2M	488.8M
Operating income	336.5M	354.5M	294.1M	369.4M	333.6M	295.1M	296.3M	354.6M	377.2M	345.3M	305.9M	391.8M
Operating margin	17.2%	16.8%	14%	17%	16.8%	15.3%	15.9%	17.3%	18.2%	16.5%	14.9%	17.9%
Non-operating income, net	10.3M	713K	536.4M	12.2M	81.7M	13.7M	6.4M	6.4M	18.5M	6.3M	8.5M	10.4M
Pretax income	318.2M	329.2M	798.9M	353.3M	386.3M	303.6M	295.4M	352.1M	386.2M	340.5M	298.9M	387.7M
Income tax	56.3M	33M	166.7M	71.5M	73.4M	65.3M	56.1M	72M	83M	65.8M	60.2M	75.2M
Net income	289.8M	296.3M	632.2M	281.8M	347.1M	1.4B	230.8M	279.1M	302M	282.1M	238.4M	312.2M
Net margin	14.8%	14.1%	30.2%	12.9%	17.5%	74.4%	12.4%	13.6%	14.5%	13.4%	11.6%	14.3%
EBITDA	421.5M	440.6M	390M	474.9M	438.5M	418.7M	407.9M	471.1M	511.9M	468M	425.8M	513.6M
EPS	2.07	2.12	4.55	2.05	2.53	10.5	1.68	2.03	2.2	2.07	1.77	2.32
Diluted EPS	2.06	2.11	4.52	2.04	2.51	10.4	1.67	2.02	2.19	2.06	1.75	2.3

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	9.4B	12.7B	10.6B	16.7B	18.2B	26.1B	19.3B	21.5B	25.8B	26.7B	25.8B
Enterprise value	12.7B	15.5B	13.4B	19.6B	21B	29.1B	22.8B	24.8B	27.1B	28.6B	27.3B
Shares outstanding	155.2M	155.7M	149.9M	145.2M	144.1M	143.9M	142.7M	139.8M	137.7M	136.9M	136.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	18.5	15.6	18.6	24.7	26.6	23.3	18.1	20.4	9.58	24.4	23.2
P/S	1.55	1.86	1.52	2.35	2.72	3.31	2.27	2.55	3.34	3.3	3.07
P/B	2.47	2.9	3.84	5.52	5.37	6.24	4.51	4.21	3.72	3.61	3.35
EV/EBITDA	13	14.1	11.8	14.9	17.1	18.3	13.3	14.4	16.7	15.4	14.3
EV/Sales	2.1	2.27	1.92	2.74	3.14	3.67	2.68	2.94	3.5	3.54	3.25
Earnings yield	5.42%	6.39%	5.36%	4.05%	3.76%	4.3%	5.51%	4.91%	10.4%	4.09%	4.31%
FCF yield	7.7%	5.24%	5.9%	4.53%	5.16%	3.61%	3.03%	5.32%	2.25%	4.16%	3.52%
PEG	—	—	—	—	—	—	—	—	—	—	1.62

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	36.9%	37.1%	36.6%	36.7%	37%	37.6%	36%	36.6%	38.2%	39.8%	40.2%
Operating margin	11.7%	11.8%	12.1%	14.3%	14%	16.2%	16.2%	16.2%	15.6%	17%	18.7%
Net margin	8.42%	11.9%	8.16%	9.5%	10.2%	14.2%	12.5%	12.5%	34.8%	13.5%	13.5%
ROE	13.4%	18.5%	20.6%	22.4%	20.2%	26.8%	24.9%	20.7%	38.8%	14.8%	14.9%
ROA	5.03%	7.62%	6.82%	7.82%	7.47%	10.8%	9.78%	9.31%	21.6%	8.15%	7.06%
ROIC	7.35%	9.56%	12.4%	14%	12.3%	14.5%	14.6%	13.6%	11.6%	11.8%	12.3%
Return on tangible assets	-19.5%	112.7%	-45.4%	-67.3%	-58.9%	-78.4%	-96%	-76.4%	-581.3%	-114.3%	-329.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.21	1.2	1.25	1.33	1.37	1.28	1.19	1.36	2.04	1.79	1.98
Quick ratio	0.8	0.91	0.88	0.91	0.93	0.78	0.72	0.87	1.52	1.28	1.41
Debt / equity	0.95	0.81	1.14	1.07	0.97	0.79	0.91	0.72	0.45	0.48	0.42
Debt / assets	0.36	0.33	0.38	0.37	0.36	0.32	0.36	0.32	0.25	0.27	0.24
Net debt / EBITDA	3.36	2.56	2.43	2.16	2.26	1.83	2.05	1.91	0.8	1.02	0.78
Interest coverage	6.04	7.04	6.54	7.7	8.52	14.2	12.1	10.7	14.4	13.5	13.4
Effective tax rate	26.7%	14.7%	18.5%	19.6%	18.8%	19.8%	17.3%	16.8%	20.3%	20.1%	20.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	38.9	43.8	46.7	49.1	46.4	54.9	59.6	60.3	56.2	59.1	62
EPS (basic)	3.28	5.21	3.8	4.67	4.74	7.81	7.47	7.56	19.6	7.99	7.99
EPS (diluted)	3.25	5.15	3.75	4.61	4.7	7.74	7.42	7.52	19.4	7.94	8.27
Book value per share	24.5	28.2	18.5	20.9	23.5	29.1	30	36.5	50.5	54.1	57.2
FCF per share	4.66	4.28	4.19	5.22	6.52	6.56	4.1	8.18	4.22	8.13	8.64
Cash per share	2.25	4.84	2.64	2.74	3.56	2.68	2.67	2.85	13.4	12.2	13
Capex per share	0.8	1.02	1.1	1.26	1.1	1.14	1.51	1.35	1.22	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.06%	2.32%	2.36%	2.56%	2.37%	2.08%	2.53%	2.23%	2.16%	—	—
Capex / operating cash flow	19%	16.7%	21.9%	20.2%	16.1%	14%	23.4%	13.4%	10%	—	—
Payout ratio	52.6%	35%	49.7%	41.6%	41.6%	25.5%	27%	26.9%	10.5%	25.9%	25.1%
Dividend yield	2.85%	2.24%	2.67%	1.69%	1.56%	1.1%	1.49%	1.32%	1.1%	1.06%	1.1%

Yield

1.1%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.525

ex-dividend Aug 31, 2026

Payout ratio

25%

of earnings

Dividend growth

19 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 31, 2026	$0.525
May 29, 2026	$0.52
Feb 27, 2026	$0.52

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2B	$2.1B	$2.1B	$2.2B	$2B	$1.9B	$1.9B	$2B	$2.1B	$2.1B	$2.1B	$2.2B
YoY change	-9.26%	-1.56%	+0.72%	+3.72%	+1.28%	-8.35%	-10.9%	-5.91%	+4.75%	+8.77%	+10.1%	+6.85%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	349.1M	754M	396.2M	397.3M	513.1M	385.5M	380.9M	398.6M	1.8B	1.7B
Receivables	1.3B	1.2B	1.2B	1.2B	1.1B	1.3B	1.5B	1.4B	1.4B	1.4B
Inventory	870.5M	677M	748.8M	806.1M	835.8M	1.2B	1.4B	1.2B	1.1B	1.3B
Total current assets	2.6B	2.8B	2.5B	2.5B	2.6B	3.1B	3.4B	3.4B	4.5B	4.5B
Property, plant & equipment	348.1M	270.9M	276.5M	315.1M	327M	375M	384.3M	391.2M	361.8M	413.9M
Goodwill & intangibles	12.7B	9.9B	9.6B	9.7B	10.3B	11.8B	12B	12.7B	13B	14.4B
Total assets	10.1B	10.7B	8.4B	8.7B	9.2B	10.4B	10.9B	11.3B	12.5B	13.4B
Accounts payable	830.3M	882M	969.5M	920.6M	853.9M	1.1B	1.1B	958.5M	848M	875.7M
Short-term debt	414.6M	581.1M	220.3M	126.5M	48.8M	148.8M	778.4M	517.1M	449.7M	759M
Total current liabilities	2.1B	2.3B	2B	1.9B	1.9B	2.4B	2.9B	2.5B	2.2B	2.5B
Long-term debt	3.2B	3B	2.9B	3.1B	3.2B	3.2B	3.1B	3.2B	2.7B	2.8B
Total liabilities	6.3B	6.3B	5.6B	5.6B	5.8B	6.2B	6.6B	6.2B	5.6B	6B
Shareholders' equity	3.8B	4.4B	2.8B	3B	3.4B	4.2B	4.3B	5.1B	7B	7.4B
Total debt	3.6B	3.6B	3.2B	3.2B	3.3B	3.3B	3.9B	3.7B	3.2B	3.6B
Net debt	3.3B	2.8B	2.8B	2.8B	2.8B	2.9B	3.5B	3.3B	1.3B	1.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	283.8M	398.6M	930M	328.8M	386.8M	1.8B	1.8B	1.3B	1.6B	1.7B	1.6B	1.8B
Receivables	1.5B	1.4B	1.5B	1.6B	1.4B	1.4B	1.4B	1.5B	1.5B	1.4B	1.4B	1.5B
Inventory	1.3B	1.2B	1.2B	1.2B	1.2B	1.1B	1.2B	1.3B	1.3B	1.3B	1.4B	1.4B
Total current assets	3.5B	3.4B	3.9B	3.3B	3.7B	4.5B	4.6B	4.2B	4.5B	4.5B	4.7B	5B
Property, plant & equipment	384M	391.2M	374M	369.7M	364.5M	361.8M	377M	393.4M	399M	413.9M	399M	396.6M
Goodwill & intangibles	11.7B	12.7B	13B	12.9B	13.2B	13B	13B	14.5B	14.4B	14.4B	14.2B	14B
Total assets	10.8B	11.3B	12B	11.3B	11.9B	12.5B	12.6B	13.2B	13.4B	13.4B	13.5B	13.7B
Accounts payable	970.7M	958.5M	969.8M	974.3M	865.2M	848M	844.1M	869.9M	861.6M	875.7M	975.5M	955.7M
Short-term debt	207M	517.1M	969M	210.5M	379.3M	449.7M	400.3M	400.5M	400.6M	759M	692.8M	681.8M
Total current liabilities	2.2B	2.5B	3B	2.1B	2.4B	2.2B	2.1B	2.2B	2.2B	2.5B	2.5B	2.5B
Long-term debt	2.9B	3.2B	3B	3B	3B	2.7B	2.6B	2.7B	2.7B	2.8B	2.6B	2.6B
Total liabilities	5.9B	6.2B	6.8B	5.9B	6.2B	5.6B	5.5B	5.7B	5.8B	6B	6B	6B
Shareholders' equity	4.8B	5.1B	5.2B	5.4B	5.7B	7B	7.1B	7.4B	7.7B	7.4B	7.5B	7.7B
Total debt	3.2B	3.7B	3.9B	3.2B	3.4B	3.2B	3B	3.1B	3.1B	3.6B	3.3B	3.3B
Net debt	2.9B	3.3B	3B	2.8B	3B	1.3B	1.2B	1.8B	1.5B	1.9B	1.6B	1.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	508.9M	811.7M	570.3M	677.9M	683.5M	1.1B	1.1B	1.1B	2.7B	1.1B
Depreciation & amortization	249.7M	283.3M	282.6M	272.3M	279.1M	290.1M	307.5M	317.5M	337.8M	379.6M
Stock-based compensation	18.6M	24.1M	23.7M	29.7M	25M	31.1M	30.8M	31.5M	40.4M	44M
Change in working capital	-16.9M	74.5M	-74.1M	-36.5M	49.6M	-204.3M	-427.4M	131.6M	-30.4M	-3.4M
Operating cash flow	655.3M	945.3M	755.2M	906.3M	985.1M	1.2B	917.1M	1.4B	1.7B	1.3B
Capital expenditure	-124.4M	-158.3M	-165.1M	-182.6M	-158.5M	-164.4M	-214.9M	-188.4M	-167.5M	—
Investing cash flow	-1.5B	208.3M	-245.5M	-384.3M	-481.4M	-992.8M	-540.9M	-726.6M	-27M	-666.3M
Dividends paid	-267.7M	-284M	-283.6M	-282.2M	-284.3M	-286.9M	-287.6M	-284.3M	-283.1M	-283M
Share repurchases	0	-105M	-895M	-143.3M	-106.3M	-21.6M	-585M	0	-500M	-540.7M
Financing cash flow	625.9M	-592.9M	-897.8M	-558M	-506.3M	-249.9M	-260.3M	-568.1M	-1.3B	-624.9M
Net change in cash	-199.6M	560.7M	-388.1M	-36M	-2.6M	-72M	115.9M	114.9M	373.9M	42.4M
Free cash flow	723.4M	665.6M	627.6M	758.5M	939.1M	944.4M	584.8M	1.1B	580.8M	1.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	289.8M	296.3M	632.2M	281.8M	347.1M	1.4B	230.8M	279.1M	302M	282.1M	238.4M	312.2M
Depreciation & amortization	—	—	—	—	—	—	—	—	98.5M	99.3M	97.4M	96.8M
Stock-based compensation	—	—	—	—	—	—	—	—	6.7M	6.4M	21M	6.8M
Change in working capital	—	—	—	—	—	—	—	—	-7.7M	152.2M	-76.5M	-163.5M
Operating cash flow	289.8M	296.3M	632.2M	281.8M	347.1M	1.4B	230.8M	279.1M	422.9M	541.1M	190.6M	235.8M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	-4.7M	-15M	-1.9M	3.6M
Dividends paid	—	—	—	—	—	—	—	—	-71.2M	-69.8M	-70.4M	-70M
Share repurchases	—	—	—	—	—	—	—	—	0	-500M	-53.9M	0
Financing cash flow	—	—	—	—	—	—	—	—	-74M	-575.7M	-161.5M	-73.6M
Net change in cash	289.8M	296.3M	632.2M	281.8M	347.1M	1.4B	230.8M	279.1M	344.3M	-49.6M	27.3M	165.8M
Free cash flow	—	—	—	—	—	—	—	—	368.8M	484.1M	130.8M	188M

Date	Ratio
May 9, 2018	1238:1000
Mar 3, 2014	1205:1000
Dec 16, 1997	2:1
Sep 18, 1995	2:1
Sep 26, 1988	2:1

Dover Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history