Dover (DOV) AI Stock Analysis

• Market Cap: $26.90B
• Dividend Yield: 1.06%
• Average Volume (3M): 1.06M
• Price to Earnings (P/E): 12.1
• Beta (1Y): 1.11
• Revenue Growth: -5.24%
• EPS Growth: 45.69%
• Country: US
• Employees: 24,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 2.62
• Shares Outstanding: 137,153,230
• 10 Day Avg. Volume: 1,098,205
• 30 Day Avg. Volume: 1,056,978
• PEG Ratio: 0.06
• Price to Book (P/B): 3.72
• Price to Sales (P/S): 3.34
• P/FCF Ratio: 44.49
• Enterprise Value/Market Cap: 0.91
• Enterprise Value/Revenue: 3.10
• Enterprise Value/Gross Profit: 7.81
• Enterprise Value/Ebitda: 13.53
• 1Y Price Target: $215.18
• Price Target Upside: 9.70% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): 9.59
• Revenue Forecast (FY): $8.08B

• Rating: 79 Outperform
• Price Target: $219.00 ▲(11.65% Upside)

Dover's strong financial performance and positive earnings call sentiment are the primary drivers of its high stock score. The company's solid balance sheet, revenue growth, and strategic corporate actions further bolster its position. However, technical indicators suggest a potential short-term pullback due to overbought conditions, which slightly tempers the overall score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion.

Margin Improvement

Improved margins reflect operational efficiency and cost management, enhancing profitability and competitive positioning.

Financial Flexibility

Securing long-term funding strengthens Dover's balance sheet, enabling strategic investments and resilience against economic fluctuations.

Negative Factors

Segment Revenue Decline

Declining revenue in key segments may indicate market challenges or competitive pressures, potentially impacting future growth.

Challenges in Climate & Sustainability

Significant declines in this segment highlight industry-wide challenges, which could affect long-term strategic initiatives.

Vehicle Wash Segment Headwinds

Ongoing challenges in the Vehicle Wash segment may hinder recovery efforts and limit growth opportunities in this area.

Dover Business Overview & Revenue Model

Company Description

Dover Corporation (DOV) is a diversified global manufacturer with a broad portfolio of products and solutions serving various markets. The company operates through several segments, including Engineered Systems, Pumps & Process Solutions, and Refrigeration & Food Equipment. Dover's core offerings encompass industrial equipment, fluid handling systems, and refrigeration technologies, which cater to industries such as manufacturing, food and beverage, and transportation.

How the Company Makes Money

Dover generates revenue through the sale of its diverse range of products and services across its operating segments. The Engineered Systems segment contributes significantly through its offerings, including automation equipment and components for industrial applications. The Pumps & Process Solutions segment primarily earns revenue from fluid handling and pumping solutions, which are essential in various industries like oil and gas, water treatment, and food processing. The Refrigeration & Food Equipment segment generates income from commercial refrigeration systems and foodservice equipment. Additionally, Dover benefits from long-term partnerships with leading companies across its sectors, which secure ongoing contracts and collaborative projects. The company's focus on innovation, efficiency, and customer service also plays a crucial role in driving sales and maintaining competitive advantage, further enhancing its revenue streams.

Dover Financial Statement Overview

Summary

Dover exhibits strong financial health with impressive revenue growth and profitability metrics. The balance sheet is solid, with low leverage and high return on equity. Cash flow generation is stable, though there is potential for improvement in free cash flow conversion. Overall, the company is well-positioned for continued growth and financial stability.

Income Statement

Dover's income statement shows strong performance with a notable gross profit margin of 39.67% and a net profit margin of 28.37% for the TTM period. The company has demonstrated consistent revenue growth, with a significant increase of 20.4% in the latest TTM period. However, there is a slight decline in EBIT and EBITDA margins compared to previous years, indicating potential cost pressures.

Balance Sheet

The balance sheet reflects a solid financial position with a debt-to-equity ratio of 0.40, indicating manageable leverage. Return on equity is robust at 30.80%, showcasing effective use of shareholder funds. The equity ratio stands at 57.10%, highlighting a strong equity base relative to total assets. However, the decrease in total debt suggests a focus on debt reduction.

Cash Flow

Cash flow analysis reveals a healthy operating cash flow to net income ratio of 0.36, indicating efficient cash generation relative to profits. Free cash flow growth is positive at 2.06%, though the free cash flow to net income ratio of 0.72 suggests room for improvement in cash conversion. Overall, cash flow stability is evident, but further enhancement in free cash flow generation is desirable.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.92B	7.75B	7.68B	7.84B	7.91B	6.68B
Gross Profit	3.14B	2.96B	2.87B	2.90B	2.97B	2.47B
EBITDA	1.81B	2.23B	1.56B	1.60B	1.80B	1.23B
Net Income	2.25B	2.70B	1.06B	1.07B	1.12B	683.45M
Balance Sheet
Total Assets	13.42B	12.51B	11.35B	10.90B	10.40B	9.15B
Cash, Cash Equivalents and Short-Term Investments	1.55B	1.84B	398.56M	380.87M	385.50M	513.08M
Total Debt	3.07B	3.15B	3.68B	3.89B	3.30B	3.29B
Total Liabilities	5.76B	5.56B	6.24B	6.61B	6.21B	5.77B
Stockholders Equity	7.66B	6.95B	5.11B	4.29B	4.19B	3.39B
Cash Flow
Free Cash Flow	568.09M	580.85M	1.14B	584.76M	944.40M	939.12M
Operating Cash Flow	785.27M	748.38M	1.34B	805.72M	1.12B	1.10B
Investing Cash Flow	1.09B	1.96B	-726.63M	-540.92M	-992.75M	-481.38M
Financing Cash Flow	-733.58M	-1.27B	-568.06M	-260.26M	-249.88M	-506.29M

Dover Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 196.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DOV, the sentiment is Positive. The current price of 196.15 is above the 20-day moving average (MA) of 189.73, above the 50-day MA of 180.51, and above the 200-day MA of 177.07, indicating a bullish trend. The MACD of 5.09 indicates Negative momentum. The RSI at 63.29 is Neutral, neither overbought nor oversold. The STOCH value of 62.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DOV.

Dover Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DOV	79 Outperform	$26.90B	12.06	15.88%	1.06%	-5.24%	45.69%
XYL	79 Outperform	$33.33B	35.21	8.70%	1.17%	5.56%	13.76%
GGG	78 Outperform	$13.79B	28.42	19.45%	1.32%	2.85%	3.09%
PNR	75 Outperform	$16.96B	26.30	17.97%	0.96%	0.83%	-1.32%
OTIS	67 Neutral	$34.68B	26.23	―	1.85%	0.73%	-15.57%
IR	66 Neutral	$30.87B	57.95	5.35%	0.10%	4.20%	-34.47%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Dover Corporate Events

Dover Completes €550 Million Euro Notes Offering

On November 12, 2025, Dover Corporation successfully completed a €550 million offering of 3.500% Euro Notes due in 2033. This issuance, part of the company’s senior unsecured debt obligations, is intended to enhance Dover’s financial flexibility and strengthen its market position by securing long-term funding.

Dover Launches $500M Share Buyback Program

On November 10, 2025, Dover Corporation initiated an accelerated share repurchase program with JPMorgan Chase Bank to buy back $500 million of its common stock. This move is part of a larger repurchase authorization approved in August 2023, aiming to retire a significant number of shares. The company plans to fund this repurchase with existing cash and expects the final settlement by the second quarter of 2026, potentially impacting its financial positioning and shareholder value.

Dover Reports Q3 Revenue Growth Amid Earnings Dip

Dover reported its financial results for the third quarter ended September 30, 2025, showing a 5% increase in revenue to $2.1 billion, despite a 3% decrease in GAAP earnings from continuing operations. The company highlighted strong performance in short cycle components and secular-growth end markets, as well as successful acquisitions, which offset challenges in the vehicle aftermarket and refrigerated door cases sectors. Dover’s strategic initiatives, including capital deployment and operational efficiencies, are expected to drive future growth, with an increase in full-year adjusted EPS guidance.