Dover Corporation
Rank #302Capital ReturnDOV · NYSE · Industrials
Dover Corporation (DOV) — Rank #302 by gross profitability (GP/assets 0.24) · ROE 14.2% · Piotroski F-Score 8 / 9.
As-of 2026-09-15 · CIK 0000029905 · all metrics point-in-time as of the filing date.
About
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide.
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The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market. This segment offers software solutions and services used in light and heavy-duty vehicle lifts, wheel service equipment, vehicle diagnostics, and vehicle collision repair solutions; winches, hoists, bearings, drives, and electric monitoring system; and radio frequency and microwave filters and switches, and signal intelligence solutions, as well as soldering and fluid dispensing solutions. Its Clean Energy & Fueling segment offers component, equipment, and software and service solution enabling safe storage and transport of fuel, cryogenic gases, and hazardous fluids, as well as operation of retail fueling and vehicle wash establishment. The company's Imaging & Identification segment provides precision marking and coding, product traceability equipment, brand protection, and digital textile printing equipment and solution, as well as consumable, software, and service to packaged and consumer goods, pharmaceutical, industrial manufacturing, textile, and other end-market. Its Pumps & Process Solutions segment manufactures specialty pump, connector, flow meter, fluid connecting solution, plastics and polymer processing equipment, and engineered components for rotating and reciprocating machines. The company's Climate & Sustainability Technologies segment manufactures refrigeration system, refrigeration display case, commercial glass refrigerator and freezer door, and brazed plate heat exchanger for industrial heating and cooling, and residential climate control applications.
Dover Corporation was incorporated in 1947 and is headquartered in Downers Grove, Illinois.
- Industry
- Specialty Industrial Machinery
- Sector
- Industrials
- State
- NY
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- dovercorporation.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$25.40B
P/E (annual)
23.8
P/S (annual)
3.1
P/B
3.3
P/OCF (annual)
19.0
Shareholder Yield
13.8%
Employees
24,000
Industry
Specialty Industrial Machinery
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
9.8%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -12.7% — per-share value needs a total required return of -2.9% once share-count change is priced in.
vs. own 6-year median revenue growth: 2.5%
priced above its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
5.3%
r = 10% (base)
9.8%
r = 12%
13.6%
Net debt / market cap: 8.4%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
Disclosure regression check
A previously-disclosed line item is no longer reported. Worth checking the filing for why.
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.24
Primary signal (Novy-Marx).
37th pctl of 36 SIC 35 peers
Return on equity
14.2%
Gross margin
39.8%
43rd pctl of 36 SIC 35 peers
Revenue growth (YoY)
18.6%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2018 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
1.0%
Revenue CAGR (5Y)
3.9%
Earnings CAGR (3Y)
0.9%
FCF CAGR (3Y)
24.1%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.78
60th pctl of 36 SIC 35 peers (best = lowest)
Current ratio
1.98×
43rd pctl of 36 SIC 35 peers
Quick ratio
1.31×
Net cash
-$2.19B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$1.12B
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.02
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.5%
Stock-based comp intensity.
Dividend safety
Composite score
3.0 / 5
Piotroski F-Score
F-Score
8 / 9
Fundamental-strength score (0-9).