Stock DOV DOVER CORPORATION
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Financials Dover Corporation

Equities

DOV

US2600031080

Industrial Machinery & Equipment

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
180.2 USD +0.59% Intraday chart for Dover Corporation +6.08% +17.14%
Apr. 26 JPMorgan Adjusts Price Target on Dover to $200 From $180 MT
Apr. 26 RBC Capital Adjusts Price Target on Dover to $192 From $179 MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 16,743 18,193 26,148 19,005 21,517 24,761 - -
Enterprise Value (EV) 1 19,417 20,789 28,887 22,303 24,561 27,115 26,042 25,260
P/E ratio 25 x 26.9 x 23.5 x 18.2 x 20.5 x 16.7 x 20.5 x 17 x
Yield 1.68% 1.56% 1.1% 1.48% 1.32% 1.16% 1.2% 1.17%
Capitalization / Revenue 2.35 x 2.72 x 3.31 x 2.23 x 2.55 x 2.88 x 2.77 x 2.68 x
EV / Revenue 2.72 x 3.11 x 3.65 x 2.62 x 2.91 x 3.15 x 2.91 x 2.73 x
EV / EBITDA 14.5 x 16.3 x 17.9 x 13.5 x 13.9 x 14.6 x 13.2 x 12.3 x
EV / FCF 25.6 x 22.1 x 30.6 x 38.1 x 21.5 x 22.9 x 19.5 x 16.4 x
FCF Yield 3.91% 4.52% 3.27% 2.62% 4.66% 4.37% 5.13% 6.11%
Price to Book 5.52 x 5.37 x 6.24 x 4.51 x - 4.6 x 3.92 x -
Nbr of stocks (in thousands) 145,266 144,103 143,985 140,354 139,890 137,430 - -
Reference price 2 115.3 126.2 181.6 135.4 153.8 180.2 180.2 180.2
Announcement Date 1/30/20 1/28/21 1/27/22 1/31/23 2/1/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,136 6,684 7,907 8,508 8,438 8,608 8,943 9,254
EBITDA 1 1,339 1,275 1,610 1,648 1,765 1,857 1,979 2,061
EBIT 1 1,067 996.4 1,320 1,340 1,430 1,520 1,635 1,813
Operating Margin 14.95% 14.91% 16.69% 15.75% 16.95% 17.65% 18.28% 19.59%
Earnings before Tax (EBT) 1 843 841.7 1,401 1,288 1,270 1,887 1,495 1,728
Net income 1 677.9 683.5 1,124 1,065 1,057 1,498 1,192 1,382
Net margin 9.5% 10.23% 14.21% 12.52% 12.52% 17.4% 13.32% 14.93%
EPS 2 4.610 4.700 7.740 7.420 7.520 10.78 8.788 10.62
Free Cash Flow 1 758.5 939.1 944.4 584.8 1,144 1,185 1,335 1,544
FCF margin 10.63% 14.05% 11.94% 6.87% 13.55% 13.77% 14.93% 16.68%
FCF Conversion (EBITDA) 56.64% 73.63% 58.66% 35.49% 64.8% 63.82% 67.47% 74.9%
FCF Conversion (Net income) 111.89% 137.41% 84.03% 54.89% 108.23% 79.13% 112.05% 111.73%
Dividend per Share 2 1.940 1.970 1.990 2.010 2.030 2.096 2.161 2.108
Announcement Date 1/30/20 1/28/21 1/27/22 1/31/23 2/1/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 1,989 2,052 2,159 2,158 2,139 2,079 2,100 2,153 2,106 2,094 2,138 2,210 2,179 2,135 2,236
EBITDA 1 381.4 388.9 440.1 455.5 417.6 410.2 426.6 473.7 454.6 408.2 456.1 500.8 501.5 448 481.5
EBIT 1 309.5 309.9 364.8 379 340.8 328.7 342.6 385.1 373.6 318.8 363.6 412.3 410.9 362 383.2
Operating Margin 15.56% 15.1% 16.9% 17.56% 15.93% 15.81% 16.32% 17.88% 17.74% 15.23% 17% 18.66% 18.86% 16.95% 17.14%
Earnings before Tax (EBT) 1 460.7 275.7 335.4 353 323.4 286.3 300 354.5 329.2 798.9 334.5 376.7 377.3 309.8 355
Net income 1 362.8 226.2 289.6 286 263.6 228.6 242.2 289.8 296.3 632.2 264.9 298.7 302.2 241.1 277
Net margin 18.24% 11.02% 13.42% 13.25% 12.32% 10.99% 11.53% 13.46% 14.07% 30.19% 12.39% 13.52% 13.87% 11.29% 12.39%
EPS 2 2.490 1.560 2.000 2.000 1.870 1.630 1.720 2.060 2.110 4.520 1.900 2.157 2.191 1.749 2.015
Dividend per Share 2 0.5000 0.5000 0.5000 0.5000 0.5050 0.5050 0.5050 0.5100 0.5100 0.5100 0.5215 0.5342 0.5342 0.5452 0.6117
Announcement Date 1/27/22 4/21/22 7/21/22 10/20/22 1/31/23 4/26/23 7/25/23 10/24/23 2/1/24 4/25/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,673 2,596 2,739 3,297 3,044 2,355 1,282 499
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.996 x 2.035 x 1.701 x 2.001 x 1.725 x 1.268 x 0.6477 x 0.242 x
Free Cash Flow 1 759 939 944 585 1,144 1,185 1,335 1,544
ROE (net income / shareholders' equity) 30.1% 21.3% 29.7% 25.1% 22.5% 24.2% 21.7% 25.6%
ROA (Net income/ Total Assets) 10.2% 7.67% 11.5% 10% 9.5% 12.6% 9.26% -
Assets 1 6,620 8,911 9,778 10,651 11,123 11,849 12,867 -
Book Value Per Share 2 20.90 23.50 29.10 30.00 - 39.20 46.00 -
Cash Flow per Share 2 6.430 7.600 7.680 5.610 9.500 11.50 11.10 -
Capex 1 187 166 171 221 193 173 180 226
Capex / Sales 2.62% 2.48% 2.17% 2.6% 2.28% 2.01% 2.01% 2.44%
Announcement Date 1/30/20 1/28/21 1/27/22 1/31/23 2/1/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Dover Corporation

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
16
Last Close Price
180.2 USD
Average target price
191 USD
Spread / Average Target
+6.01%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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