Dover Corp
Exchange: NYSESector: IndustrialsIndustry: Specialty Industrial Machinery
Dover is a diversified global manufacturer and solutions provider with annual revenue of over $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 70 years, our team of approximately 24,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV."
Did you know?
Trading 44% above its estimated fair value of $125.32.
Current Price
$225.79
-0.27%GoodMoat Value
$125.32
44.5% overvaluedProfile
Valuation (TTM)
Market Cap$30.45B
P/E27.64
EV$30.77B
P/B4.11
Shares Out134.87M
P/Sales3.68
Revenue$8.28B
EV/EBITDA17.04
Dover Corp (DOV) Stock Analysis
GoodMoat Analysis
Dover Corp is a diversified industrial machinery company with a moderate competitive position, but its current valuation appears significantly above its estimated fair value. The GoodMoat target price of $125.32 suggests the stock may be overvalued by a wide margin.
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Dover Corp is a diversified industrial manufacturer operating in segments like engineered products, clean energy, and imaging & identification. Applying the GoodMoat Moat Identification framework, the company likely demonstrates some durable advantages, such as niche dominance in specific engineered components, potential switching costs for mission-critical equipment, and a long operating history. However, it is unlikely to score highly across the full 14-point checklist, as its business model lacks the network effects, proprietary data, or extreme scale advantages seen in software or tech-centric moats. A reasonable Moat Score would likely fall in the 5-7 range, which is the minimum threshold to proceed with analysis under the framework.
Crucially, the valuation assessment presents a major hurdle. The stock trades at a P/E of approximately 27x, which is high for a company with 8.8% YoY revenue growth. More significantly, the provided GoodMoat Target price is $125.32, which is approximately 41% below the current price of $213.87. According to the Decision Framework's Valuation & Risk Gate, a DCF-derived margin of safety of -41% (current price above target) is deeply in the 'Unfavourable' band (<10% MoS). This indicates the stock price requires near-perfect future execution and is not priced with a margin of safety. While the business may have adequate quality, the extreme disconnect between price and estimated intrinsic value makes further investigation for a value investor an exercise in understanding the premium, not finding a bargain.
Analysis based on data as of 2024-05-15.
Market Cap$30.45B
Current Price$225.79
P/E Ratio27.64
Forward P/E—
PEG Ratio5.16
EPS$7.94
Book Value$54.91
P/B Ratio4.11
DOV Financial Charts
FCF vs CAPEX
FCFCAPEX
Forward estimates use 6.6% FCF growth (CAGR)
Cash vs Debt
Net Debt: 1.7B
Revenue
7.1B
FY19
6.7B
FY20
7.9B
FY21
7.8B
FY22
7.7B
FY23
7.7B
FY24
8.1B
FY25
Net Income
678M
FY19
683M
FY20
1.1B
FY21
1.1B
FY22
1.1B
FY23
2.7B
FY24
1.1B
FY25
DOV 52-Week Range
$160.34
$232.77
50-Day MA: $216.62200-Day MA: $193.93
Did you know?
Earnings per share grew at a 8.3% CAGR.
Dover Corp (DOV) Financial Summary
Dover Corp (DOV) is a Industrials company in the Specialty Industrial Machinery industry, listed on NYSE. The stock currently trades at $225.79 with a market capitalization of $30.45B.
Key valuation metrics include a P/E ratio of 27.64, price-to-book ratio of 4.11, and EPS of $7.94. The company reports a profit margin of 13.3% and return on equity of 14.9%.
DOV Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $30.45B |
| P/E Ratio | 27.64 |
| EPS | $7.94 |
| P/B Ratio | 4.11 |
| P/S Ratio | 3.68 |
| EV/EBITDA | 17.04 |
| Dividend Yield | 0.93% |
| Profit Margin | 13.3% |
| Return on Equity | 14.9% |
| Debt/Equity | 0.45 |
DOV Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $7.14B | $677.92M |
| FY20 | $6.68B | $683.45M |
| FY21 | $7.91B | $1.12B |
| FY22 | $7.84B | $1.07B |
| FY23 | $7.68B | $1.06B |
| FY24 | $7.75B | $2.70B |
| FY25 | $8.09B | $1.09B |
Dover Corp (DOV) Valuation
Based on GoodMoat's DCF model, Dover Corp has a fair value estimate of $125.32. At the current price of $225.79, the stock appears 80.2% overvalued relative to our intrinsic value estimate.
DOV Quality Indicators
Dover Corp maintains a profit margin of 13.3% and an operating margin of 17.0%. Return on equity stands at 14.9%. The current ratio is 1.79. Debt-to-equity ratio is 0.45.
About Dover Corp
Dover is a diversified global manufacturer and solutions provider with annual revenue of over $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 70 years, our team of approximately 24,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV."
DOV Free Cash Flow
Dover Corp generated $1.12B in trailing twelve-month free cash flow, representing an FCF yield of 3.67%. This moderate FCF yield indicates reasonable cash generation.
DOV Shares Outstanding
Dover Corp has 0.13 billion shares outstanding at a share price of $225.79, giving it a market capitalization of $30.45B.
DOV Recent Insider Trades
Recent insider transactions at Dover Corp include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| Tobin Richard J (Chairman, President & CEO) | SELL | 76,997 | $17.92M |
| Cabrera Ivonne M (SVP, General Counsel & Secr.) | SELL | 4,000 | $932911.60 |
| Juneja Girish (Senior VP & CDO) | SELL | 1,500 | $346155.00 |