Dover Corp

Industrials
Industrial Machinery/Components
www.dovercorporation.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $27.64B
PE 18
Debt $3.39B
Cash $386.77M
EV $30.64B
FCF $990.60M

Earnings

loading chart...

Sales & Net Margins

loading chart...

Earnings	$1.56B
EBIT	$1.81B
ROE	27%
ROA	15%
FCF	$990.60M
Equity	$5.70B
Growth Stability	78%
PE	17.75
PEG	1
PB	4.85
P/FCF	27.9
P/S	3.49
Price/Cash	0.01
Debt/Equity	0.59
Debt/FCF	3.42
Net Margins	22%
Gross Margins	38%
Op. Margins	23%
Earnings CAGR	10%
Sales Growth YoY	-28%
Sales Growth QoQ	-29%
Sales CAGR	4%
FCF CAGR	5%
Equity CAGR	3%
Earnings Stability	0.66
Earnings Growth YoY	20%
Earnings Growth QoQ	23%
Earnings CAGR 5Y	18%

Sales CAGR 5Y	5%
FCF CAGR 5Y	3%
Equity CAGR 5Y	14%
Earnings CAGR 3Y	1%
Sales CAGR 3Y	1%
FCF CAGR 3Y	18%
Equity CAGR 3Y	12%
Market Cap	$27.64B
Revenue	$7.92B
Dividend Yield	1%
Payout Ratio	18%
Assets	$11.91B
Total Debt	$3.39B
Cash	$386.77M
Shares Outstanding	137.25M
EV	30.64B
Earnings Score	86%
Moat Score	96%
Safety Score	88%
Final Score	90%
Working Capital	1.36B
Current Ratio	1.57
Gross Profit	$3.00B
Shares Growth 3y	-2%
Equity Growth QoQ	6%
Equity Growth YoY	18%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...

Dover is a diversified industrial manufacturing company with products and services that include digital printing for fast-moving consuming goods, marking and coding for the food and beverage industry, loaders for the waste collection industry, pumps for the transport of fluids, including petroleum and natural gas, and commercial refrigerators used in groceries and convenience stores. Most of the business operates in the United States. After the spinoff of Apergy, the company operates through five segments: engineered systems, clean energy and fueling solutions, imaging and identification, pumps and process solutions, and climate and sustainability technologies equipment.

SEC Filings

Direct access to Dover Corp (DOV) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Dover Corp compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of Dover Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 10%

Stability 66%

loading chart...

Dover Corp Discounted Cash Flow

Fully customizable DCF calculator online for Dover Corp.

Years

Calculation mode

= $14B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$991M	$1B	$1.1B	$1.1B	$1.2B	$1.3B	$1.3B	$1.4B	$1.4B	$1.5B	$1.6B	$16B
DCF		$944M	$900M	$858M	$818M	$780M	$743M	$708M	$675M	$644M	$613M	$6.1B
Value	$14B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	10%	13%	8%	12%	8%	9%	10%	14%	13%	13%	22%
ROA	-	11%	8%	10%	10%	11%	10%	14%	13%	12%	15%
ROE	-	24%	13%	19%	21%	22%	20%	27%	25%	21%	27%

Good Net Margins (21.68%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	3.48	5.22	6.27	5.12	4.05	3.31	3.31	6.29	3.03	3.42
Debt over Equity	0.9	0.76	0.96	0.89	1.14	1.01	0.92	0.75	0.86	0.68	0.59
Growth Stability	-	-	-	100%	78%	100%	100%	100%	100%	100%	78%

Neutral Debt/FCF ratio (3.42)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.59)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (78%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-10%	-13%	13%	3%	2%	-6%	18%	8%	-1%	5%
Earnings YoY growth	-	12%	-41%	59%	-30%	19%	1%	64%	-5%	-1%	18%
Equity YoY growth	-	-2%	4%	15%	-37%	10%	12%	24%	2%	19%	14%
FCF YoY growth	-	1%	-12%	-10%	-1%	23%	24%	1%	-38%	96%	3%