Dover Corp

Industrials
Industrial Machinery/Components
www.dovercorporation.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $27.62B
PE 10
Debt $3.33B
Cash $1.84B
EV $29.11B
FCF $920.30M

Earnings

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Sales & Net Margins

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Earnings	$2.70B
EBIT	$1.76B
ROE	39%
ROA	14%
FCF	$920.30M
Equity	$6.95B
Growth Stability	78%
PE	10.24
PEG	0.47
PB	3.97
P/FCF	30.01
P/S	3.57
Price/Cash	0.07
Debt/Equity	0.48
Debt/FCF	3.62
Net Margins	35%
Gross Margins	38%
Op. Margins	23%
Earnings CAGR	13%
Sales Growth YoY	-8%
Sales Growth QoQ	25%
Sales CAGR	4%
FCF CAGR	5%
Equity CAGR	4%
Earnings Stability	0.72
Earnings Growth YoY	385%
Earnings Growth QoQ	314%
Earnings CAGR 5Y	22%

Sales CAGR 5Y	5%
FCF CAGR 5Y	2%
Equity CAGR 5Y	15%
Earnings CAGR 3Y	-1%
Sales CAGR 3Y	-1%
FCF CAGR 3Y	21%
Equity CAGR 3Y	17%
Market Cap	$27.62B
Revenue	$7.75B
Dividend Yield	1%
Payout Ratio	10%
Assets	$12.51B
Total Debt	$3.33B
Cash	$1.84B
Shares Outstanding	137.74M
EV	29.11B
Earnings Score	90%
Moat Score	97%
Safety Score	88%
Final Score	91%
Working Capital	2.29B
Current Ratio	2.04
Gross Profit	$2.96B
Shares Growth 3y	-2%
Equity Growth QoQ	22%
Equity Growth YoY	36%

Assets & ROA

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Stockholders Equity & ROE

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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-K Dec 31
- 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?

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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 13%

Stability 72%

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Dover Corp Discounted Cash Flow

Fully customizable DCF calculator online for Dover Corp.

Years

Calculation mode

= $13B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$920M	$969M	$1B	$1.1B	$1.1B	$1.2B	$1.3B	$1.3B	$1.4B	$1.5B	$1.5B	$15B
DCF		$881M	$842M	$806M	$771M	$738M	$706M	$675M	$646M	$618M	$592M	$5.9B
Value	$13B

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	13%	8%	12%	8%	9%	10%	14%	13%	13%	35%	35%
ROA	-	8%	10%	10%	11%	10%	14%	13%	12%	14%	14%
ROE	-	13%	19%	21%	22%	20%	27%	25%	21%	39%	39%

Good Net Margins (34.82%)

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	5.22	6.27	5.12	4.05	3.31	3.31	6.29	3.03	3.62	3.62
Debt over Equity	0.76	0.96	0.89	1.14	1.01	0.92	0.75	0.86	0.68	0.48	0.48
Growth Stability	-	-	-	78%	100%	100%	100%	100%	100%	100%	78%

Neutral Debt/FCF ratio (3.62)

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 (0.48)

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-13%	13%	3%	2%	-6%	18%	8%	-1%	-8%	5%
Earnings YoY growth	-	-41%	59%	-30%	19%	1%	64%	-5%	-1%	155%	22%
Equity YoY growth	-	4%	15%	-37%	10%	12%	24%	2%	19%	36%	15%
FCF YoY growth	-	-12%	-10%	-1%	23%	24%	1%	-38%	96%	-20%	2%