Dover Corporation (DOV) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Industrial - Machinery
EV/EBITDA
↓
18.39
+10% vs avg
5yr avg: 16.76
30Y Low4.4·High18.6
P/FCF
↓
26.96
-10% vs avg
5yr avg: 29.80
30Y Low4.3·High134.2
P/B Ratio
↓
4.17
-7% vs avg
5yr avg: 4.49
30Y Low1.1·High6.3
ROE
↓
15.2%
↑-45% vs avg
5yr avg: 27.5%
30Y Low-5%·High46%
Debt/EBITDA
↑
2.16
↓-4% vs avg
5yr avg: 2.24
30Y Low1.0·High3.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DOV Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Dover Corporation trades at 28.2x earnings, 46% above its 5-year average of 19.3x, sitting at the 100th percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a premium of 10%. On a free-cash-flow basis, the stock trades at 27.0x P/FCF, 10% below the 5-year average of 29.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $30.1B | $26.9B | $26.0B | $21.6B | $19.4B | $26.4B | $18.4B | $16.9B | $10.8B | $12.9B | $9.5B |
| Enterprise Value | $32.2B | $29.1B | $27.3B | $24.9B | $23.0B | $29.3B | $21.1B | $19.8B | $13.6B | $15.7B | $12.7B |
| P/E Ratio → | 28.23 | 24.65 | 9.65 | 20.45 | 18.25 | 23.46 | 26.86 | 25.00 | 18.92 | 15.83 | 18.61 |
| P/S Ratio | 3.72 | 3.33 | 3.36 | 2.81 | 2.48 | 3.34 | 2.75 | 2.37 | 1.54 | 1.89 | 1.57 |
| P/B Ratio | 4.17 | 3.64 | 3.74 | 4.23 | 4.54 | 6.30 | 5.42 | 5.59 | 3.90 | 2.93 | 2.49 |
| P/FCF | 26.96 | 24.11 | 44.80 | 18.91 | 33.25 | 27.93 | 19.55 | 22.34 | 17.46 | 19.32 | 13.60 |
| P/OCF | 22.52 | 20.14 | 34.77 | 16.18 | 24.13 | 23.64 | 16.61 | 17.92 | 13.68 | 15.39 | 10.99 |
P/E links to full P/E history page with 30-year chart
DOV EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Dover Corporation's enterprise value stands at 18.4x EBITDA, 10% above its 5-year average of 16.8x. The Industrials sector median is 13.9x, placing the stock at a 33% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.59 | 3.53 | 3.24 | 2.93 | 3.71 | 3.16 | 2.77 | 1.94 | 2.30 | 2.11 |
| EV / EBITDA | 18.39 | 16.57 | 17.70 | 16.34 | 14.57 | 18.64 | 17.44 | 15.86 | 12.05 | 14.38 | 13.30 |
| EV / EBIT | 23.47 | 19.58 | 14.47 | 19.86 | 17.56 | 19.44 | 22.16 | 20.41 | 15.84 | 15.35 | 15.53 |
| EV / FCF | — | 25.99 | 47.05 | 21.78 | 39.25 | 31.02 | 22.50 | 26.08 | 21.94 | 23.55 | 18.29 |
DOV Profitability
Margins and return-on-capital ratios measuring operating efficiency
Dover Corporation earns an operating margin of 17.0%, above the Industrials sector average of 4.3%. Operating margins have expanded from 15.9% to 17.0% over the past 3 years, signaling improving operational efficiency. ROE of 15.2% indicates solid capital efficiency, compared to the sector median of 8.2%. ROIC of 11.6% represents solid returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.8% | 39.8% | 38.2% | 37.3% | 37.0% | 37.6% | 37.0% | 36.7% | 36.6% | 37.1% | 36.9% |
| Operating Margin | 17.0% | 17.0% | 15.6% | 15.9% | 16.3% | 16.2% | 14.0% | 13.7% | 12.1% | 11.8% | 11.7% |
| Net Profit Margin | 13.5% | 13.5% | 34.8% | 13.8% | 13.6% | 14.2% | 10.2% | 9.5% | 8.2% | 11.9% | 8.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.2% | 15.2% | 44.7% | 22.5% | 25.1% | 29.7% | 21.3% | 23.4% | 15.9% | 19.8% | 13.7% |
| ROA | 8.4% | 8.4% | 22.6% | 9.5% | 10.0% | 11.5% | 7.7% | 8.0% | 6.0% | 7.8% | 5.4% |
| ROIC | 11.6% | 11.6% | 10.9% | 11.3% | 12.9% | 14.5% | 11.6% | 12.8% | 9.9% | 8.5% | 8.1% |
| ROCE | 12.9% | 12.9% | 12.5% | 14.3% | 15.7% | 16.7% | 13.2% | 14.5% | 11.3% | 9.8% | 9.2% |
DOV Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Dover Corporation carries a Debt/EBITDA ratio of 2.2x, which is manageable (33% below the sector average of 3.2x). Net debt stands at $2.1B ($3.8B total debt minus $1.7B cash). Interest coverage of 13.5x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.51 | 0.51 | 0.45 | 0.72 | 0.91 | 0.79 | 0.97 | 1.07 | 1.14 | 0.81 | 0.95 |
| Debt / EBITDA | 2.16 | 2.16 | 2.04 | 2.41 | 2.47 | 2.10 | 2.72 | 2.59 | 2.81 | 3.27 | 3.78 |
| Net Debt / Equity | — | 0.28 | 0.19 | 0.64 | 0.82 | 0.70 | 0.82 | 0.94 | 1.00 | 0.64 | 0.86 |
| Net Debt / EBITDA | 1.20 | 1.20 | 0.85 | 2.15 | 2.23 | 1.86 | 2.29 | 2.27 | 2.46 | 2.58 | 3.41 |
| Debt / FCF | — | 1.88 | 2.25 | 2.87 | 6.00 | 3.09 | 2.96 | 3.74 | 4.48 | 4.23 | 4.70 |
| Interest Coverage | 13.52 | 13.52 | 14.39 | 9.55 | 11.22 | 14.18 | 8.52 | 7.70 | 6.54 | 7.04 | 6.02 |
DOV Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.79x means Dover Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.28x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.40x to 1.79x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.79 | 1.79 | 2.04 | 1.40 | 1.23 | 1.36 | 1.37 | 1.46 | 1.37 | 1.21 | 1.33 |
| Quick Ratio | 1.28 | 1.28 | 1.52 | 0.90 | 0.74 | 0.83 | 0.93 | 1.00 | 0.96 | 0.92 | 0.89 |
| Cash Ratio | 0.67 | 0.67 | 0.84 | 0.17 | 0.14 | 0.17 | 0.27 | 0.23 | 0.22 | 0.33 | 0.18 |
| Asset Turnover | — | 0.60 | 0.62 | 0.68 | 0.72 | 0.76 | 0.73 | 0.82 | 0.84 | 0.64 | 0.60 |
| Inventory Turnover | 3.83 | 3.83 | 4.18 | 3.93 | 3.61 | 4.15 | 5.04 | 5.60 | 5.92 | 6.34 | 4.38 |
| Days Sales Outstanding | — | 61.85 | 63.81 | 68.02 | 70.58 | 62.20 | 62.10 | 62.25 | 64.31 | 63.33 | 76.42 |
DOV Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Dover Corporation returns 2.7% to shareholders annually — split between a 0.9% dividend yield and 1.8% buyback yield. The payout ratio of 25.9% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 1.1% | 1.1% | 1.3% | 1.5% | 1.1% | 1.5% | 1.7% | 2.6% | 2.2% | 2.8% |
| Payout Ratio | 25.9% | 25.9% | 10.5% | 26.9% | 27.0% | 25.5% | 41.6% | 41.6% | 49.7% | 35.0% | 52.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.5% | 4.1% | 10.4% | 4.9% | 5.5% | 4.3% | 3.7% | 4.0% | 5.3% | 6.3% | 5.4% |
| FCF Yield | 3.7% | 4.1% | 2.2% | 5.3% | 3.0% | 3.6% | 5.1% | 4.5% | 5.7% | 5.2% | 7.4% |
| Buyback Yield | 1.8% | 2.0% | 1.9% | 0.1% | 3.0% | 0.1% | 0.6% | 0.8% | 8.3% | 0.8% | 0.0% |
| Total Shareholder Yield | 2.7% | 3.1% | 3.0% | 1.4% | 4.5% | 1.2% | 2.1% | 2.5% | 10.9% | 3.0% | 2.8% |
| Shares Outstanding | — | $138M | $139M | $141M | $144M | $145M | $145M | $147M | $152M | $158M | $157M |
Peer Comparison
Compare DOV with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 DOVYou | $30B | 28.2 | 18.4 | 27.0 | 39.8% | 17.0% | 15.2% | 11.6% | 2.2 |
 ITW | $76B | 25.2 | 18.3 | 28.1 | 44.1% | 26.3% | 93.7% | 29.0% | 1.9 |
 EMR | $84B | 37.3 | 19.1 | 31.6 | 52.8% | 19.6% | 9.6% | 8.2% | 2.7 |
 PH | $120B | 35.2 | 26.1 | 36.0 | 36.9% | 20.5% | 27.4% | 13.4% | 1.9 |
 ROK | $53B | 61.8 | 32.3 | 39.2 | 48.1% | 17.1% | 23.5% | 15.1% | 2.1 |
 AME | $54B | 37.1 | 29.9 | 32.5 | 36.4% | 26.2% | 14.6% | 12.1% | 1.2 |
 ROP | $34B | 23.3 | 13.8 | 13.6 | 69.2% | 28.3% | 7.9% | 6.1% | 3.0 |
 XYL | $26B | 28.4 | 15.0 | 29.1 | 38.5% | 13.5% | 8.5% | 7.6% | 1.1 |
 FELE | $5B | 32.1 | 14.4 | 23.8 | 35.5% | 12.7% | 11.3% | 14.7% | 0.8 |
 GTLS | $10B | 630.3 | 14.4 | 49.1 | 29.2% | 15.2% | 1.3% | 7.4% | 4.0 |
 MIDD | $8B | -32.0 | 14.2 | 13.9 | 39.1% | 18.4% | -8.7% | 8.7% | 3.2 |
| Industrials Median | — | 25.6 | 13.9 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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DOV — Frequently Asked Questions
Quick answers to the most common questions about buying DOV stock.
What is Dover Corporation's P/E ratio?
Dover Corporation's current P/E ratio is 28.2x. The historical average is 14.7x. This places it at the 100th percentile of its historical range.
What is Dover Corporation's EV/EBITDA?
Dover Corporation's current EV/EBITDA is 18.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.7x.
What is Dover Corporation's ROE?
Dover Corporation's return on equity (ROE) is 15.2%. The historical average is 19.7%.
Is DOV stock overvalued?
Based on historical data, Dover Corporation is trading at a P/E of 28.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Dover Corporation's dividend yield?
Dover Corporation's current dividend yield is 0.92% with a payout ratio of 25.9%.
What are Dover Corporation's profit margins?
Dover Corporation has 39.8% gross margin and 17.0% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Dover Corporation have?
Dover Corporation's Debt/EBITDA ratio is 2.2x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.