Dover Corporation

Industrials Industrial Machinery & Supplies & Components Downers Grove, Illinois Last filing Feb 13, 2026 · FY2025

                    Revenue
                    FY2025
                
$8.1B
                    3y CAGR +1.0%
                    
                    P28
                    
                    +4.5%
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +13.5%
                    
                    P57
                    
                    -59.4%
                    
                    Total assets
                    FY2025
                
$13.4B
                    ROA +8.2%
                    
                    P51
                    
                    +7.3%
                    
                    Operating cash flow
                    FY2025
                
$1.3B
                    FCF margin +13.8%
                    
                    P54
                    
                    +23.0%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

28 accounts · 10 years

Total assets $13.4B

Total liabilities $2.5B

Shareholders equity $7.4B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	$1.7B -9.1%	$1.8B 362.9%	$398.6M 4.6%	$380.9M -1.2%	$385.5M -24.9%	$513.1M 29.2%	$397.3M 0.3%	$396.2M -47.4%	$754.0M 115.9%	$349.1M
Accounts Receivable	$1.4B 1.3%	$1.4B -5.4%	$1.4B -5.6%	$1.5B 12.6%	$1.3B 18.5%	$1.1B -6.6%	$1.2B -1.2%	$1.2B -11.1%	$1.4B 9.5%	$1.3B
Inventory	$1.3B 11.2%	$1.1B -6.6%	$1.2B -10.3%	$1.4B 14.7%	$1.2B 42.5%	$835.8M 3.7%	$806.1M 7.7%	$748.8M -14.8%	$878.6M 0.9%	$870.5M
Prepaid Expenses	$186.0M 32.3%	$140.6M -0.7%	$141.5M -11.0%	$159.1M 15.6%	$137.6M 3.4%	$133.1M 4.1%	$127.8M 0.8%	$126.9M -32.9%	$189.0M 81.1%	$104.4M
Other Current Assets	$606.2M 10.2%	$550.2M -1.9%	$560.9M 20.6%	$465.0M -0.3%	$466.3M -2.7%	$479.2M 8.8%	$440.4M 80.5%	$243.9M -2.0%	$248.9M 15.5%	$215.5M
Total Current Assets	$4.5B 0.5%	$4.5B 32.3%	$3.4B -1.0%	$3.4B 11.8%	$3.1B 16.9%	$2.6B 2.8%	$2.5B 1.8%	$2.5B -21.9%	$3.2B 23.9%	$2.6B
Property,Plant and Equipment	$1.1B 13.3%	$987.9M -4.3%	$1.0B 2.7%	$1.0B 5.0%	$957.3M 6.7%	$897.3M 6.5%	$842.3M 4.4%	$806.5M -19.3%	$999.8M 5.7%	$945.7M
Goodwill	$5.4B 10.7%	$4.9B 5.8%	$4.6B -0.7%	$4.7B 2.4%	$4.6B 11.9%	$4.1B 7.6%	$3.8B 2.9%	$3.7B -0.2%	$3.7B -19.2%	$4.6B
Intangible Assets	$1.8B 11.3%	$1.6B 6.5%	$1.5B 11.3%	$1.3B -1.9%	$1.4B 25.4%	$1.1B 2.7%	$1.1B -7.0%	$1.1B -29.5%	$1.6B -10.7%	$1.8B
Other Noncurrent Assets	$606.2M 10.2%	$550.2M -1.9%	$560.9M 20.6%	$465.0M -0.3%	$466.3M -2.7%	$479.2M 8.8%	$440.4M 80.5%	$243.9M -2.0%	$248.9M 15.5%	$215.5M
Total Assets	$13.4B 7.3%	$12.5B 10.2%	$11.3B 4.1%	$10.9B 4.7%	$10.4B 13.7%	$9.2B 5.6%	$8.7B 3.6%	$8.4B -21.5%	$10.7B 5.4%	$10.1B
Liabilities
Accounts Payable	$875.7M 3.3%	$848.0M -11.5%	$958.5M -10.3%	$1.1B -0.5%	$1.1B 25.7%	$853.9M -13.2%	$983.3M 1.4%	$969.5M -1.0%	$979.4M 18.0%	$830.3M
Accrued Liabilities	$352.1M 231.2%	$106.3M 18.4%	$89.8M -10.2%	$100.0M -6.7%	$107.2M 10.9%	$96.6M 21.4%	$79.6M -12.2%	$90.7M -4.3%	$94.8M -15.3%	$112.0M
Deferred Revenue	$155.0M -22.0%	$198.6M -6.0%	$211.3M -17.8%	$256.9M 12.9%	$227.5M 23.1%	$184.8M 76.2%	$104.9M 187.7%	$36.5M -30.9%	$52.8M 25.6%	$42.0M
Current Portion of Long Term Debt	$706.7M 76.9%	$399.4M -14.7%	$468.3M 55914.6%	$836.0K -99.2%	$105.7M	$0 -100.0%	$84.7M	$0 -100.0%	$350.0M 30602.7%	$1.1M
Other Current Liabilities	$352.1M 5.0%	$335.3M 6.3%	$315.5M -0.9%	$318.3M -8.3%	$347.1M 1.0%	$343.6M 1.3%	$339.1M 8.2%	$313.5M -12.0%	$356.1M 7.1%	$332.6M
Total Current Liabilities	$2.5B 14.7%	$2.2B -9.0%	$2.4B -13.0%	$2.8B 23.2%	$2.3B 29.4%	$1.7B -0.6%	$1.7B -4.2%	$1.8B -20.5%	$2.3B 18.4%	$1.9B
Long Term Debt	$2.6B 3.6%	$2.5B -15.5%	$3.0B 1.7%	$2.9B -2.5%	$3.0B -2.9%	$3.1B 4.1%	$3.0B 1.4%	$2.9B -1.4%	$3.0B -6.9%	$3.2B
Deferred Revenue Noncurrent	$4.4M -0.6%	$4.5M -37.3%	$7.1M -64.3%	$19.9M -7.6%	$21.5M 54.5%	$13.9M 27.5%	$10.9M 16.4%	$9.4M -5.4%	$9.9M -20.8%	$12.5M
Deferred Tax Liabilities	$394.4M -32.0%	$580.2M 1.5%	$571.6M -0.3%	$573.1M 6.3%	$539.1M 12.5%	$479.3M 9.0%	$439.7M -1.4%	$445.9M -17.5%	$540.2M -39.9%	$899.0M
Other Noncurrent Liabilities	$483.1M 2.5%	$471.1M 2.0%	$462.0M -2.7%	$474.9M -10.8%	$532.5M -6.6%	$570.3M 8.2%	$527.2M 21.9%	$432.4M -21.5%	$550.7M 20.0%	$459.1M
Total Liabilities	$2.5B 14.7%	$2.2B -9.0%	$2.4B -13.0%	$2.8B 23.2%	$2.3B 29.4%	$1.7B -0.6%	$1.7B -4.2%	$1.8B -20.5%	$2.3B 18.4%	$1.9B
Equity
Preferred Stock	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Common Stock	$0 -100.0%	$260.0M 0.1%	$259.8M 0.1%	$259.6M 0.1%	$259.5M 0.2%	$259.0M 0.2%	$258.6M 0.3%	$257.8M 0.3%	$257.0M 0.2%	$256.5M
Treasury Stock	$545.8M 8.2%	$504.7M -92.6%	$6.8B 1062.0%	$585.0M -90.6%	$6.2B 0.3%	$6.2B 1.7%	$6.1B 2.4%	$5.9B 17.1%	$5.1B 2.1%	$5.0B
Accumulated Other Comprehensive Income	$0 100.0%	$-327.8M -37.8%	$-237.9M 10.7%	$-266.2M -72.8%	$-154.1M -0.5%	$-153.3M 29.1%	$-216.0M 11.1%	$-243.1M -24.8%	$-194.8M 45.8%	$-359.3M
Total Stockholders Equity	$7.4B 6.5%	$7.0B 36.2%	$5.1B 19.1%	$4.3B 2.3%	$4.2B 23.7%	$3.4B 11.6%	$3.0B 9.5%	$2.8B -36.8%	$4.4B 15.4%	$3.8B
Total Liabilitiesand Equity	$13.4B 7.3%	$12.5B 10.2%	$11.3B 4.1%	$10.9B 4.7%	$10.4B 13.7%	$9.2B 5.6%	$8.7B 3.6%	$8.4B -21.5%	$10.7B 5.4%	$10.1B

Income Statement

Revenue, expense, and profitability

18 accounts · 10 years

Revenue $8.1B

Operating income $1.4B

Net income $1.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	$8.1B 4.5%	$7.7B 0.8%	$7.7B -2.0%	$7.8B -0.8%	$7.9B 18.3%	$6.7B -6.3%	$7.1B 2.1%	$7.0B 2.5%	$6.8B 12.9%	$6.0B
Expenses Cost of Revenue	$4.9B 1.8%	$4.8B -0.6%	$4.8B -2.5%	$4.9B 0.0%	$4.9B 17.3%	$4.2B -6.8%	$4.5B 1.9%	$4.4B 3.3%	$4.3B 12.5%	$3.8B
Expenses Research and Development	$165.3M 10.5%	$149.6M 7.6%	$139.1M -8.1%	$151.4M -4.1%	$157.8M 11.1%	$142.1M 0.8%	$141.0M -1.5%	$143.0M 9.6%	$130.5M 12.7%	$115.8M
Expenses Selling,General and Administrative	$1.8B 5.3%	$1.8B 6.3%	$1.6B 1.4%	$1.6B -3.7%	$1.7B 9.6%	$1.5B -3.6%	$1.6B -6.8%	$1.7B -0.3%	$1.7B 13.4%	$1.5B
Expenses Depreciation and Amortization	$379.6M 12.4%	$337.8M 10.8%	$305.0M 3.2%	$295.7M 1.9%	$290.1M 4.0%	$279.1M 2.5%	$272.3M -3.6%	$282.6M -0.2%	$283.3M 13.5%	$249.7M
Expenses Share Based Compensation	$44.0M 9.0%	$40.4M 31.2%	$30.8M 2.3%	$30.1M -3.3%	$31.1M 24.3%	$25.0M -15.7%	$29.7M 25.3%	$23.7M -1.6%	$24.1M 29.1%	$18.6M
Expenses Restructuring and Asset Impairment	$56.7M -18.7%	$69.8M 39.9%	$49.9M 63.7%	$30.5M 14.1%	$26.7M -39.9%	$44.5M 65.8%	$26.8M -54.2%	$58.5M 11.9%	$52.3M 109.0%	$25.0M
Other Income Expense Gross Profit	$3.2B 8.8%	$3.0B 3.2%	$2.9B -1.3%	$2.9B -2.2%	$3.0B 20.0%	$2.5B -5.6%	$2.6B 2.4%	$2.6B 1.2%	$2.5B 13.5%	$2.2B
Other Income Expense Operating Income	$1.4B 13.8%	$1.2B -1.1%	$1.2B -4.7%	$1.3B -0.1%	$1.3B 37.4%	$933.0M -4.3%	$974.9M 15.6%	$843.1M 4.5%	$806.9M 13.8%	$709.0M
Other Income Expense Other Income/expense	$33.0M -29.6%	$46.9M 118.4%	$21.5M -5.0%	$22.6M 52.0%	$14.9M 24.9%	$11.9M -8.1%	$12.9M 197.2%	$4.4M 93.6%	$2.3M -72.9%	$8.3M
Other Income Expense Income Before Tax	$1.4B -21.8%	$1.8B 56.5%	$1.1B -5.6%	$1.2B -15.0%	$1.4B 66.4%	$841.7M -0.2%	$843.0M 16.2%	$725.4M -17.2%	$875.8M 27.9%	$684.6M
Income Tax Income Tax Expense	$276.8M -22.5%	$357.0M 99.3%	$179.1M -10.6%	$200.3M -27.7%	$277.0M 75.0%	$158.3M -4.1%	$165.1M 23.0%	$134.2M 3.9%	$129.2M -29.2%	$182.5M
net Income net Income	$1.1B -59.4%	$2.7B 155.2%	$1.1B -0.8%	$1.1B -5.2%	$1.1B 64.4%	$683.5M 0.8%	$677.9M 18.9%	$570.3M -29.7%	$811.7M 59.5%	$508.9M
net Income Comprehensive Income	$1.2B -52.2%	$2.6B 140.3%	$1.1B 13.8%	$953.2M -15.1%	$1.1B 50.5%	$746.2M 5.8%	$705.0M 40.5%	$501.9M -48.6%	$976.2M 141.6%	$404.1M
Earnings Per Share Basic Eps	$8 -59.2%	$20 159.0%	$8 1.2%	$7 -4.4%	$8 64.8%	$5 1.5%	$5 22.9%	$4 -27.1%	$5 58.8%	$3
Earnings Per Share Diluted Eps	$8 -59.2%	$19 158.6%	$8 1.3%	$7 -4.1%	$8 64.7%	$5 2.0%	$5 22.9%	$4 -27.2%	$5 58.5%	$3
Earnings Per Share Weighted Average Shares Basic	$136.9M -0.6%	$137.7M -1.5%	$139.8M -2.0%	$142.7M -0.9%	$143.9M -0.1%	$144.1M -0.8%	$145.2M -3.1%	$149.9M -3.7%	$155.7M 0.3%	$155.2M
Earnings Per Share Weighted Average Shares Diluted	$137.8M -0.7%	$138.7M -1.4%	$140.6M -2.1%	$143.6M -1.2%	$145.3M -0.1%	$145.4M -1.1%	$147.0M -3.4%	$152.1M -3.6%	$157.7M 0.7%	$156.6M

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $1.3B

Investing cash flow $-886.6M

Financing cash flow $-624.9M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	$1.1B -59.4%	$2.7B 155.2%	$1.1B -0.8%	$1.1B -5.2%	$1.1B 64.4%	$683.5M 0.8%	$677.9M 18.9%	$570.3M -29.7%	$811.7M 59.5%	$508.9M
Operating Activities Depreciation and Amortization	$379.6M 12.4%	$337.8M 10.8%	$305.0M 3.2%	$295.7M 1.9%	$290.1M 4.0%	$279.1M 2.5%	$272.3M -3.6%	$282.6M -0.2%	$283.3M 13.5%	$249.7M
Operating Activities Stock Based Compensation	$44.0M 9.0%	$40.4M 31.2%	$30.8M 2.3%	$30.1M -3.3%	$31.1M 24.3%	$25.0M -15.7%	$29.7M 25.3%	$23.7M -1.6%	$24.1M 29.1%	$18.6M
Operating Activities Deferred Income Taxes	$-28.6M 68.8%	$-91.7M 0.6%	$-92.2M -244.2%	$-26.8M 52.4%	$-56.2M -78.9%	$-31.4M -25.9%	$-25.0M -80.2%	$-13.9M 88.6%	$-121.5M -316.8%	$-29.1M
Operating Activities Changes In Operating Assets and Liabilities	$-81.0M -177.8%	$104.1M 123.4%	$-445.3M -230.3%	$341.8M -57.5%	$803.5M 1095.3%	$-80.7M -183.9%	$96.2M -65.8%	$281.6M 165.4%	$106.1M -46.6%	$198.5M
Operating Activities net Cash From Operating Activities	$1.3B 23.0%	$1.1B -18.6%	$1.3B 65.9%	$805.7M -27.8%	$1.1B 1.0%	$1.1B 16.9%	$945.3M 19.8%	$789.2M 6.7%	$739.4M 0.7%	$734.6M
Investing Activities Capital Expenditures	$220.3M 31.5%	$167.5M -8.7%	$183.4M -13.1%	$211.1M 23.1%	$171.5M 3.5%	$165.7M -11.3%	$186.8M 9.2%	$171.0M 0.5%	$170.1M 21.8%	$139.6M
Investing Activities Business Acquisitions	$663.3M 4.4%	$635.3M 19.0%	$533.6M 70.6%	$312.9M -71.9%	$1.1B 231.2%	$335.8M 55.7%	$215.7M 214.6%	$68.6M 152.2%	$27.2M -98.3%	$1.6B
Investing Activities Other Investing Activities	$9.1M 229.9%	$-7.0M -1116.3%	$686.0K 122.2%	$-3.1M 64.6%	$-8.7M -448.3%	$2.5M -75.3%	$10.2M -35.7%	$15.8M 174.6%	$-21.2M -2101.0%	$1.1M
Investing Activities net Cash From Investing Activities	$-886.6M -3185.8%	$-27.0M 96.3%	$-726.6M -34.3%	$-540.9M 45.5%	$-992.8M -106.2%	$-481.4M -25.3%	$-384.3M -56.5%	$-245.5M -217.8%	$208.3M 114.1%	$-1.5B
Financing Activities Proceeds From Debt	$631.2M	$0	$0	—	$0	$0 -100.0%	$847.5M	$0	$0 -100.0%	$656.4M
Financing Activities Repayment of Debt	$400.0M	$0	$0	—	$0	$0 -100.0%	$805.1M 130.0%	$350.0M	$0 -100.0%	$1.9M
Financing Activities Repurchase of Common Stock	$540.7M 8.1%	$500.0M	$0 -100.0%	$585.0M 2603.7%	$21.6M -79.6%	$106.3M -25.8%	$143.3M -84.0%	$895.0M 752.2%	$105.0M	$0
Financing Activities Dividends Paid	$283.0M 0.0%	$283.1M -0.4%	$284.3M -1.1%	$287.6M 0.2%	$286.9M 0.9%	$284.3M 0.7%	$282.2M -0.5%	$283.6M -0.1%	$284.0M 6.1%	$267.7M
Financing Activities Tax Withholding On Stock Based Compensation	$14.9M -10.3%	$16.6M 36.8%	$12.1M -17.1%	$14.6M -65.1%	$41.9M 47.2%	$28.5M -23.8%	$37.4M -19.2%	$46.3M 150.8%	$18.4M 17.5%	$15.7M
Financing Activities Other Financing Activities	$-16.8M -289.8%	$-4.3M -4.5%	$-4.1M -39.2%	$-3.0M 32.9%	$-4.4M -75.3%	$-2.5M -32.6%	$-1.9M 2.9%	$-2.0M -167.2%	$2.9M	$0
Financing Activities net Cash From Financing Activities	$-624.9M 50.9%	$-1.3B -123.9%	$-568.1M -118.3%	$-260.3M -4.2%	$-249.9M 50.6%	$-506.3M 9.3%	$-558.0M 37.8%	$-897.8M -51.4%	$-592.9M -193.5%	$634.3M
Cash Reconciliation net Change In Cash	$-168.1M -111.8%	$1.4B 3983.7%	$35.0M 854.8%	$-4.6M 96.4%	$-127.6M -210.1%	$115.8M 11123.1%	$1.0M 100.3%	$-357.7M -188.4%	$404.8M 3204.7%	$-13.0M
Cash Reconciliation Cash At Beginning of Period	$1.7B -9.1%	$1.8B 362.9%	$398.6M 4.6%	$380.9M -1.2%	$385.5M -24.9%	$513.1M 29.2%	$397.3M 0.3%	$396.2M -47.4%	$754.0M 115.9%	$349.1M
Cash Reconciliation Cash At End of Period	$1.7B -9.1%	$1.8B 362.9%	$398.6M 4.6%	$380.9M -1.2%	$385.5M -24.9%	$513.1M 29.2%	$397.3M 0.3%	$396.2M -47.4%	$754.0M 115.9%	$349.1M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+39.8%	+38.2%	+37.3%	+37.0%	+37.6%	+37.0%	+36.7%	+36.6%	+37.1%	+36.9%
Operating margin	+17.0%	+15.6%	+15.9%	+16.3%	+16.2%	+14.0%	+13.7%	+12.1%	+11.8%	+11.7%
Net margin	+13.5%	+34.8%	+13.8%	+13.6%	+14.2%	+10.2%	+9.5%	+8.2%	+11.9%	+8.4%
FCF margin	+13.8%	+11.9%	+15.0%	+7.6%	+11.9%	+14.1%	+10.6%	+8.8%	+8.3%	+9.8%
Growth
Revenue CAGR (3y)	+1.0%	-0.7%	+4.8%	+3.2%	+4.2%	-0.7%	+5.7%	+0.2%	-4.2%	-5.5%
Returns
ROE	+14.8%	+38.8%	+20.7%	+24.9%	+26.8%	+20.2%	+22.4%	+20.6%	+18.5%	+13.4%
ROA	+8.2%	+21.6%	+9.3%	+9.8%	+10.8%	+7.5%	+7.8%	+6.8%	+7.6%	+5.0%
ROIC	+12.1%	+12.0%	+12.5%	+15.5%	+14.8%	+12.7%	+13.7%	+12.9%	+9.9%	+7.8%
Liquidity
Current ratio	1.79x	2.04x	1.40x	1.23x	1.36x	1.51x	1.46x	1.37x	1.40x	1.33x
Quick ratio	1.21x	1.46x	0.76x	0.68x	0.77x	0.95x	0.92x	0.89x	0.93x	0.83x
Leverage
D/E	0.34x	0.32x	0.47x	0.65x	0.54x	0.51x	0.58x	0.66x	0.52x	0.51x
Interest coverage	—	—	9.29x	10.99x	12.05x	8.33x	7.75x	6.44x	5.57x	5.21x
Efficiency
Asset turnover	0.60x	0.62x	0.68x	0.72x	0.76x	0.73x	0.82x	0.84x	0.64x	0.60x
Cash conversion cycle	+92d	+86d	+88d	+93d	+71d	+61d	+48d	+46d	+66d	+80d

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Dover Corporation

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