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Dover Corporation

DOV Clue Score51
United States Fiscal year ends December CIK 0000029905
$188.83 -0.07% Close, 9 Oct 2026
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Price $188.83 +20.53% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue6.04Operating income0.71Net income0.51EPS, diluted3.25Fiscal year 2017Revenue6.82 +12.9%Operating income0.81Net income0.81 +59.5%EPS, diluted5.15 +58.5%Fiscal year 2018Revenue6.99 +2.5%Operating income0.84Net income0.57 −29.7%EPS, diluted3.75 −27.2%Fiscal year 2019Revenue7.14 +2.1%Operating income0.97Net income0.68 +18.9%EPS, diluted4.61 +22.9%Fiscal year 2020Revenue6.68 −6.3%Operating income0.93Net income0.68 +0.8%EPS, diluted4.70 +2.0%Fiscal year 2021Revenue7.91 +18.3%Operating income1.28Net income1.12 +64.4%EPS, diluted7.74 +64.7%Fiscal year 2022Revenue7.84 −0.8%Operating income1.28Net income1.07 −5.2%EPS, diluted7.42 −4.1%Fiscal year 2023Revenue7.68 −2.0%Operating income1.22Net income1.06 −0.8%EPS, diluted7.52 +1.3%Fiscal year 2024Revenue7.75 +0.8%Operating income1.21Net income2.70 +155.2%EPS, diluted19.45 +158.6%Fiscal year 2025Revenue8.09 +4.5%Operating income1.37Net income1.09 −59.4%EPS, diluted7.94 −59.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 6.04 6.82 6.99 7.14 6.68 7.91 7.84 7.68 7.75 8.09
Growth +12.9% +2.5% +2.1% −6.3% +18.3% −0.8% −2.0% +0.8% +4.5%
Operating income 0.71 0.81 0.84 0.97 0.93 1.28 1.28 1.22 1.21 1.37
Net income 0.51 0.81 0.57 0.68 0.68 1.12 1.07 1.06 2.70 1.09
Growth +59.5% −29.7% +18.9% +0.8% +64.4% −5.2% −0.8% +155.2% −59.4%
EPS, diluted 3.25 5.15 3.75 4.61 4.70 7.74 7.42 7.52 19.45 7.94
Growth +58.5% −27.2% +22.9% +2.0% +64.7% −4.1% +1.3% +158.6% −59.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin36.9%Operating margin11.7%Net margin8.4%Free cash flow margin9.8%Fiscal year 2017Gross margin37.1%Operating margin11.8%Net margin11.9%Free cash flow margin8.3%Fiscal year 2018Gross margin36.6%Operating margin12.1%Net margin8.2%Free cash flow margin8.8%Fiscal year 2019Gross margin36.7%Operating margin13.7%Net margin9.5%Free cash flow margin10.6%Fiscal year 2020Gross margin37.0%Operating margin14.0%Net margin10.2%Free cash flow margin14.1%Fiscal year 2021Gross margin37.6%Operating margin16.2%Net margin14.2%Free cash flow margin11.9%Fiscal year 2022Gross margin37.0%Operating margin16.3%Net margin13.6%Free cash flow margin7.6%Fiscal year 2023Gross margin37.3%Operating margin15.9%Net margin13.8%Free cash flow margin15.0%Fiscal year 2024Gross margin38.2%Operating margin15.6%Net margin34.8%Free cash flow margin11.9%Fiscal year 2025Gross margin39.8%Operating margin17.0%Net margin13.5%Free cash flow margin13.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 36.9% 37.1% 36.6% 36.7% 37.0% 37.6% 37.0% 37.3% 38.2% 39.8%
Operating margin 11.7% 11.8% 12.1% 13.7% 14.0% 16.2% 16.3% 15.9% 15.6% 17.0%
Net margin 8.4% 11.9% 8.2% 9.5% 10.2% 14.2% 13.6% 13.8% 34.8% 13.5%
Free cash flow margin 9.8% 8.3% 8.8% 10.6% 14.1% 11.9% 7.6% 15.0% 11.9% 13.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.73Capital expenditure−0.14Free cash flow0.60Buybacks0.00Dividends paid−0.27Fiscal year 2017Operating cash flow0.74Capital expenditure−0.17Free cash flow0.57 −4.3%Buybacks−0.11Dividends paid−0.28Fiscal year 2018Operating cash flow0.79Capital expenditure−0.17Free cash flow0.62 +8.6%Buybacks−0.89Dividends paid−0.28Fiscal year 2019Operating cash flow0.95Capital expenditure−0.19Free cash flow0.76 +22.7%Buybacks−0.14Dividends paid−0.28Fiscal year 2020Operating cash flow1.10Capital expenditure−0.17Free cash flow0.94 +23.8%Buybacks−0.11Dividends paid−0.28Fiscal year 2021Operating cash flow1.12Capital expenditure−0.17Free cash flow0.94 +0.6%Buybacks−0.02Dividends paid−0.29Fiscal year 2022Operating cash flow0.81Capital expenditure−0.21Free cash flow0.59 −37.0%Buybacks−0.59Dividends paid−0.29Fiscal year 2023Operating cash flow1.34Capital expenditure−0.18Free cash flow1.15 +93.9%Buybacks0.00Dividends paid−0.28Fiscal year 2024Operating cash flow1.09Capital expenditure−0.17Free cash flow0.92 −20.2%Buybacks−0.50Dividends paid−0.28Fiscal year 2025Operating cash flow1.34Capital expenditure−0.22Free cash flow1.12 +21.5%Buybacks−0.54Dividends paid−0.28
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.73 0.74 0.79 0.95 1.10 1.12 0.81 1.34 1.09 1.34
Capital expenditure −0.14 −0.17 −0.17 −0.19 −0.17 −0.17 −0.21 −0.18 −0.17 −0.22
Free cash flow 0.60 0.57 0.62 0.76 0.94 0.94 0.59 1.15 0.92 1.12
Growth −4.3% +8.6% +22.7% +23.8% +0.6% −37.0% +93.9% −20.2% +21.5%
Buybacks 0.00 −0.11 −0.89 −0.14 −0.11 −0.02 −0.59 0.00 −0.50 −0.54
Dividends paid −0.27 −0.28 −0.28 −0.28 −0.28 −0.29 −0.29 −0.28 −0.28 −0.28

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.35Total debt3.21Net cash (debt)−2.86Shareholders’ equity3.80Debt to equity0.84Fiscal year 2017Cash0.75Total debt3.34Net cash (debt)−2.58Shareholders’ equity4.38Debt to equity0.76Fiscal year 2018Cash0.40Total debt2.94Net cash (debt)−2.55Shareholders’ equity2.77Debt to equity1.06Fiscal year 2019Cash0.40Total debt2.99Net cash (debt)−2.59Shareholders’ equity3.03Debt to equity0.98Fiscal year 2020Cash0.51Total debt3.11Net cash (debt)−2.60Shareholders’ equity3.39Debt to equity0.92Fiscal year 2021Cash0.39Total debt3.02Net cash (debt)−2.63Shareholders’ equity4.19Debt to equity0.72Fiscal year 2022Cash0.38Total debt2.94Net cash (debt)−2.56Shareholders’ equity4.29Debt to equity0.69Fiscal year 2023Cash0.40Total debt2.99Net cash (debt)−2.59Shareholders’ equity5.11Debt to equity0.59Fiscal year 2024Cash1.84Total debt2.93Net cash (debt)−1.08Shareholders’ equity6.95Debt to equity0.42Fiscal year 2025Cash1.68Total debt3.33Net cash (debt)−1.65Shareholders’ equity7.41Debt to equity0.45
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.35 0.75 0.40 0.40 0.51 0.39 0.38 0.40 1.84 1.68
Total debt 3.21 3.34 2.94 2.99 3.11 3.02 2.94 2.99 2.93 3.33
Net cash (debt) −2.86 −2.58 −2.55 −2.59 −2.60 −2.63 −2.56 −2.59 −1.08 −1.65
Shareholders’ equity 3.80 4.38 2.77 3.03 3.39 4.19 4.29 5.11 6.95 7.41
Debt to equity 0.84 0.76 1.06 0.98 0.92 0.72 0.69 0.59 0.42 0.45

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
6.04 6.82 6.99 7.14 6.68 7.91 7.84 7.68 7.75 8.09
Growth +12.9% +2.5% +2.1% −6.3% +18.3% −0.8% −2.0% +0.8% +4.5%
3.82 4.29 4.43 4.52 4.21 4.94 4.94 4.82 4.79 4.87
2.23 2.53 2.56 2.62 2.47 2.97 2.90 2.87 2.96 3.22
Growth +13.5% +1.2% +2.4% −5.6% +20.0% −2.2% −1.3% +3.2% +8.8%
0.12 0.13 0.14 0.14 0.14 0.16 0.15 0.14 0.15 0.17
1.52 1.72 1.72 1.60 1.54 1.69 1.63 1.65 1.75 1.84
0.71 0.81 0.84 0.97 0.93 1.28 1.28 1.22 1.21 1.37
Growth +13.8% +4.5% +15.6% −4.3% +37.4% −0.1% −4.7% −1.1% +13.8%
0.68 0.88 0.73 0.84 0.84 1.40 1.19 1.12 1.76 1.37
0.18 0.13 0.13 0.17 0.16 0.28 0.20 0.18 0.36 0.28
0.51 0.81 0.57 0.68 0.68 1.12 1.07 1.06 2.70 1.09
Growth +59.5% −29.7% +18.9% +0.8% +64.4% −5.2% −0.8% +155.2% −59.4%
Per share
3.28 5.21 3.80 4.67 4.74 7.81 7.47 7.56 19.58 7.99
3.25 5.15 3.75 4.61 4.70 7.74 7.42 7.52 19.45 7.94
Growth +58.5% −27.2% +22.9% +2.0% +64.7% −4.1% +1.3% +158.6% −59.2%
155.2 155.7 149.9 145.2 144.1 143.9 142.7 139.8 137.7 136.9
156.6 157.7 152.1 147.0 145.4 145.3 143.6 140.6 138.7 137.8
Growth +0.7% −3.6% −3.4% −1.1% −0.1% −1.2% −2.1% −1.4% −0.7%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 3.9% a year over five years, and earnings per share grew 11.1% a year.
  • The diluted share count fell 5.2% in five years, so buybacks did some of the work per share.
  • Operating margin is up 3.0 points on five years ago, at 17.0%.
  • Profitable in every one of the 10 years on file.