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Dover Corporation

DOV Industrials Specialty Industrial Machinery

Dover Corporation’s revenue for fiscal 2025 (year ended December 2025) was $8.1 billion, up 4.48% from fiscal 2024. In the quarter to June 2026, revenue grew 6.85%, EPS grew 14.3%, free cash flow grew 22.7% and total debt rose 22.2%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years.

195.80 1.71 +0.88%
Market cap
$26.1B
P/E
23.4×
Fwd P/E
23.7×
Dividend yield
1.06%
F-score
6/9
Altman Z
5.27
Beneish M
−2.56
Dividend safety
86/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 20.00
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 1 1 — 3 — — — — — — — —
Insider Ownership 0.77%

Capital & Financial Ratios $m

Market Cap 26,140.00
Revenue 8,420.56
Net Income 1,134.75
Free Cash Flow 1,176.63
Net Debt 1,504.02
Current Ratio 1.98 (at or above 1.5: strong)
Debt/Equity 0.42 (at or below 0.5: strong)
P/E ratio 23.42
Fwd P/E 23.70
P/S ratio 3.13
P/B ratio 3.42
Past 5Y EPS Growth 11.06%
This Y EPS Growth 11.14%
Next Y EPS Growth 9.94%
Next Y revenue growth 7.25%
Next 5Y EPS Growth 9.62%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.3×, against a ten-year median of 2.8×; over the ten years it ranged from 1.4× in 2016 to 4.2× in 2024.
P/E against its own 10 years 73.31%
10-year low 10-year high
P/S against its own 10 years 76.04%
10-year low 10-year high
P/B against its own 10 years 29.49%
10-year low 10-year high
EV/Sales against its own 10 years 73.02%
10-year low 10-year high
EV/FCF against its own 10 years 43.53%
10-year low 10-year high

Dividends

Payout Ratio 0.25
Annual Dividend Rate 2.09
Annual Dividend Yield 1.06%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.12
0.52
0.52
0.53
2025 2.07
0.52
0.52
0.52
0.52
2024 2.05
0.51
0.51
0.52
0.52
2023 2.03
0.51
0.51
0.51
0.51
2022 2.01
0.50
0.50
0.51
0.51
2021 1.99
0.50
0.50
0.50
0.50
2020 1.97
0.49
0.49
0.50
0.50
2019 1.94
0.48
0.48
0.49
0.49
2018 1.81
0.38
0.47
0.48
0.48
2017 1.47
0.36
0.36
0.38
0.38
2016 1.39
0.34
0.34
0.36
0.36
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 399 1,845 1,677 1,756
Receivables 1,321 1,354 1,371 1,522
Inventory 1,144 1,145 1,273 1,421
Other 193 — — —
3,390 4,484 4,507 4,952
2023 2024 2025 Q'26
Payables 854 848 876 956
ST’ Debt — — — 682
Other 65 — — —
2,414 2,197 2,518 2,503

Compound Annual Growth %

10y 5y 3y
Sales 1.52% 3.90% 1.04%
Cash Flow 3.49% 3.90% 21.46%
Earnings 2.32% 9.86% 0.89%
Book Value 7.35% 16.94% 19.99%

Revenue $m

Mar Jun Sep Dec Year
’26 2,054 2,190 — — —
’25 1,866 2,050 2,078 2,099 8,093
’24 1,884 1,949 1,984 1,930 7,746
’23 2,079 2,100 1,958 1,547 7,684
’22 2,052 2,159 2,158 1,475 7,844
’21 1,868 2,032 2,018 1,989 7,907
’20 1,656 1,499 1,748 1,780 6,684
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 191 236 — — —
’25 157 212 424 544 1,338
’24 146 149 353 439 1,088
’23 241 195 284 499 1,220
’22 24 179 265 280 747
’21 177 260 351 327 1,116
’20 76 272 339 418 1,105
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 131 188 — — —
’25 113 154 370 487 1,124
’24 718 176 408 386 1,689
’23 193 155 247 441 1,036
’22 (24) 129 199 230 536
’21 152 218 304 277 951
’20 37 234 297 378 946
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.75 2.30 — — —
’25 1.67 2.02 2.19 2.06 7.94
’24 4.52 2.04 2.51 10.38 19.45
’23 1.63 1.72 2.06 2.11 7.52
’22 1.56 2.00 2.00 1.87 7.42
’21 1.61 1.82 1.81 2.49 7.74
’20 1.21 0.86 1.38 1.25 4.70
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 41.12 60.92 65.83 69.09 62.95 115.88 114.49 127.25 143.97 143.04

Analyst estimates 2026–2028

Powerpack
High 63.22 82.44 90.26 116.11 127.39 182.96 184.05 160.66 208.26 222.31
People
People Employees 29,000 29,000 24,000 24,000 23,000 25,000 25,000 25,000 24,000 24,000
Revenue/emp, $m 0.21 0.24 0.29 0.30 0.29 0.32 0.31 0.31 0.32 0.34
Income, $m
Income, $m Revenue 6,043 6,821 6,992 7,136 6,684 7,907 7,844 7,684 7,746 8,093
Gross margin, % 36.86 37.08 36.61 36.73 37.02 37.56 37.03 37.32 38.20 39.77
EBT 685 876 725 843 842 1,401 1,190 1,123 1,757 1,374
EBT margin, % 11.33 12.84 10.37 11.81 12.59 17.72 15.17 14.61 22.68 16.98
Net income 509 812 570 678 683 1,124 1,065 1,057 2,697 1,094
Depreciation 250 283 283 272 279 290 296 305 338 380
Per share, $
Per share, $ Revenue 38.93 43.81 46.65 49.15 46.40 54.94 54.98 54.95 56.24 59.10
Earnings 3.28 5.21 3.80 4.67 4.74 7.81 7.47 7.56 19.58 7.99
Cash flow 4.73 4.75 5.27 6.51 7.67 7.75 5.23 8.72 7.90 9.77
Capex (0.80) (1.02) (1.10) (1.26) (1.10) (1.14) (1.48) (1.31) 4.37 (1.56)
Free cash flow 3.93 3.73 4.16 5.25 6.57 6.61 3.75 7.41 12.26 8.21
Book value 24.48 28.15 18.47 20.89 23.50 29.11 30.04 36.52 50.49 54.08
Shares, m 155 156 150 145 144 144 143 140 138 137
Valuation, ×
Valuation, × P/E 18.82 15.77 18.62 24.68 26.58 23.25 18.08 20.04 9.57 24.47
P/S 1.59 1.87 1.52 2.35 2.72 3.31 2.46 2.76 3.34 3.30
P/B 2.52 2.92 3.84 5.52 5.37 6.24 4.50 4.15 3.72 3.61
EV/Sales 2.06 2.20 1.89 2.73 3.12 3.66 2.88 3.12 3.45 3.51
EV/FCF 20.39 25.85 21.12 25.51 22.01 30.40 42.22 23.15 15.82 25.26
Cash, $m
Cash, $m Operating cash flow 735 739 789 945 1,105 1,116 747 1,220 1,088 1,338
Capex (124) (158) (165) (183) (158) (164) (211) (183) 601 (214)
Free cash flow 610 581 624 763 946 951 536 1,036 1,689 1,124
Balance, $m
Balance, $m Working capital 649 648 676 800 880 811 650 976 2,288 1,988
Total debt 3,207 2,987 2,944 2,986 3,109 3,019 2,943 2,992 2,529 2,621
Net debt 2,857 2,233 2,547 2,588 2,596 2,633 2,562 2,593 684 944
Shareholders’ equity 3,800 4,383 2,769 3,033 3,386 4,190 4,286 5,107 6,954 7,405
Returns, %
Returns, % ROA 5.44 7.81 6.00 7.96 7.67 11.49 10.00 9.50 22.61 8.44
ROIC 6.66 7.62 9.91 10.84 9.75 11.74 11.68 9.90 9.87 10.28
ROE 13.67 19.84 15.95 23.37 21.30 29.67 25.14 22.50 44.73 15.24
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Dover Corporation vs peers in Specialty Industrial Machinery (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ROK Rockwell Automation, Inc. $46.9B 39.9× 36.1× +7.88% (above 0%: growing) +40.38% (above 0%: growing) +33.74% (above 0%: growing) 49.46% 21.75% Compare
IR Ingersoll Rand Inc. $30.2B 31.7× 29.8× +8.52% (above 0%: growing) n/m +28.33% (above 0%: growing) 42.10% 18.56% Compare
OTIS Otis Worldwide Corporation $26.8B 18.2× 17.1× +7.34% (above 0%: growing) +12.00% (above 0%: growing) +4.69% (above 0%: growing) 29.44% 14.90% Compare
DOV Dover Corporation $26.1B 23.4× 23.7× +6.85% (above 0%: growing) +14.29% (above 0%: growing) +22.65% (above 0%: growing) 40.21% 17.89%
XYL Xylem Inc. $24.1B 24.8× 24.1× +1.52% (above 0%: growing) +19.35% (above 0%: growing) +1.93% (above 0%: growing) 41.22% 16.70% Compare
SYM Symbotic Inc. $24.1B 388× 193× +21.74% (above 0%: growing) n/m +22.12% (above 0%: growing) 22.32% 4.56% Compare
NDSN Nordson Corporation $18.3B 32.5× 27.9× +10.27% (above 0%: growing) +22.87% (above 0%: growing) +4.57% (above 0%: growing) 55.49% 27.28% Compare
ITT ITT Inc. $18.0B 38.7× 33.5× +51.49% (above 0%: growing) −37.91% (below 0%: shrinking) +18.06% (above 0%: growing) 34.63% 12.24% Compare
IEX IDEX Corporation $17.4B 33.8× 30.5× +6.38% (above 0%: growing) +11.49% (above 0%: growing) +20.49% (above 0%: growing) 46.36% 21.71% Compare
Median of peers $24.1B 33.1× 30.2× +8.20% +15.68% +19.28% 41.66% 17.63%

All 76 Specialty Industrial Machinery stocks →

DOV metrics, ten years each

Dover Corporation (DOV) key facts

  • Concern: Net income was $1.1 billion, or $7.99 per share (basic), a net margin of 13.5%.
  • Strength: Dover Corporation’s revenue for fiscal 2025 (year ended December 2025) was $8.1 billion, up 4.48% from fiscal 2024.
  • Dover Corporation (DOV) is a Specialty Industrial Machinery company in the Industrials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, DOV traded at $195.80, a market capitalization of $26.1 billion.
  • At that price the stock trades at 23.4× trailing-twelve-month earnings and 3.1× sales; its P/E is higher than 73% of its own readings over the past ten years.
  • Dover Corporation pays an annual dividend of $2.09 per share, a yield of 1.06%, with a payout ratio of 25.1%.
  • Return on equity was 15.2% and debt-to-equity 0.42.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 5.27 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/DOV · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com