Market Cap
US$16.3b
Last Updated
2019/12/10 23:34 UTC
Data Sources
Company Financials +
Executive Summary
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide.
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer with mediocre balance sheet.
Similar Companies
Share Price & News
How has Dover's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: DOV has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
3.5%
DOV
2.2%
US Machinery
1.1%
US Market
1 Year Return
44.0%
DOV
22.0%
US Machinery
17.8%
US Market
Return vs Industry: DOV exceeded the US Machinery industry which returned 22% over the past year.
Return vs Market: DOV exceeded the US Market which returned 17.8% over the past year.
Shareholder returns
| DOV | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.5% | 2.2% | 1.1% |
| 30 Day | 3.2% | -0.9% | 1.4% |
| 90 Day | 13.8% | 6.0% | 3.9% |
| 1 Year | 47.0%44.0% | 24.3%22.0% | 20.3%17.8% |
| 3 Year | 94.3%46.3% | 41.3%32.3% | 44.8%35.4% |
| 5 Year | 129.0%64.1% | 70.5%50.3% | 71.3%52.4% |
Price Volatility Vs. Market
How volatile is Dover's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
The CEO & President of Dover Fluids of Dover Corporation (NYSE:DOV), William Spurgeon, Just Sold 69% Of Their Holding2 weeks ago | Simply Wall St
4 Days Left Until Dover Corporation (NYSE:DOV) Trades Ex-Dividend3 weeks ago | Simply Wall St
When Should You Buy Dover Corporation (NYSE:DOV)?Valuation
Is Dover undervalued compared to its fair value and its price relative to the market?
24.58x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: DOV ($112.86) is trading above our estimate of fair value ($107.36)
Significantly Below Fair Value: DOV is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: DOV is poor value based on its PE Ratio (24.6x) compared to the Machinery industry average (22.6x).
PE vs Market: DOV is poor value based on its PE Ratio (24.6x) compared to the US market (18.4x).
Price to Earnings Growth Ratio
PEG Ratio: DOV is poor value based on its PEG Ratio (2.7x)
Price to Book Ratio
PB vs Industry: DOV is overvalued based on its PB Ratio (5.4x) compared to the US Machinery industry average (2.4x).
Next Steps
Future Growth
How is Dover forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?
9.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DOV's forecast earnings growth (9.2% per year) is above the savings rate (1.7%).
Earnings vs Market: DOV's earnings (9.2% per year) are forecast to grow slower than the US market (14.2% per year).
High Growth Earnings: DOV's earnings are forecast to grow, but not significantly.
Revenue vs Market: DOV's revenue (2.5% per year) is forecast to grow slower than the US market (7.4% per year).
High Growth Revenue: DOV's revenue (2.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: DOV's Return on Equity is forecast to be high in 3 years time (31%)
Next Steps
Past Performance
How has Dover performed over the past 5 years?
-1.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: DOV has high quality earnings.
Growing Profit Margin: DOV's current net profit margins (9.3%) are lower than last year (10.4%).
Past Earnings Growth Analysis
Earnings Trend: DOV's earnings have declined by -1% per year over the past 5 years.
Accelerating Growth: DOV's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: DOV had negative earnings growth (-7.6%) over the past year, making it difficult to compare to the Machinery industry average (13.5%).
Return on Equity
High ROE: Whilst DOV's Return on Equity (22.13%) is high, this metric is skewed due to their high level of debt.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Dover's financial position?
Financial Position Analysis
Short Term Liabilities: DOV's short term assets ($2.6B) exceed its short term liabilities ($1.8B).
Long Term Liabilities: DOV's short term assets ($2.6B) do not cover its long term liabilities ($3.8B).
Debt to Equity History and Analysis
Debt Level: DOV's debt to equity ratio (102.4%) is considered high.
Reducing Debt: DOV's debt to equity ratio has increased from 69.6% to 102.4% over the past 5 years.
Debt Coverage: DOV's debt is well covered by operating cash flow (30.7%).
Interest Coverage: DOV's interest payments on its debt are well covered by EBIT (8.5x coverage).
Balance Sheet
Inventory Level: DOV has a high level of physical assets or inventory.
Debt Coverage by Assets: DOV's debt is not covered by short term assets (assets are 0.8x debt).
Next Steps
Dividend
What is Dover's current dividend yield, its reliability and sustainability?
1.74%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: DOV's dividend (1.74%) is higher than the bottom 25% of dividend payers in the US market (1.44%).
High Dividend: DOV's dividend (1.74%) is low compared to the top 25% of dividend payers in the US market (3.67%).
Stability and Growth of Payments
Stable Dividend: DOV's dividends per share have been stable in the past 10 years.
Growing Dividend: DOV's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (42%), DOV's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: DOV's dividends in 3 years are forecast to be well covered by earnings (29.3% payout ratio).
Next Steps
Management
What is the CEO of Dover's salary, the management and board of directors tenure and is there insider trading?
7.5yrs
Average management tenure
CEO
Rich Tobin (58yo)
1.6yrs
Tenure
US$28,021,305
Compensation
Mr. Richard Joseph Tobin, also known as Rich, is President and Chief Executive Officer at Dover Corporation since May 01, 2018. He was the Chief Executive Officer of CNH Industrial N.V. since January 2012 Â ...
CEO Compensation Analysis
Compensation vs Market: Rich's total compensation ($USD28.02M) is above average for companies of similar size in the US market ($USD10.90M).
Compensation vs Earnings: Rich's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Management Age and Tenure
7.5yrs
Average Tenure
58yo
Average Age
Experienced Management: DOV's management team is seasoned and experienced (7.5 years average tenure).
Board Age and Tenure
4.1yrs
Average Tenure
62yo
Average Age
Experienced Board: DOV's board of directors are considered experienced (4.1 years average tenure).
Insider Trading
Insider Buying: DOV insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Legal Officer Senior VP |
| Shares | 4,055 |
| Max Price | US$110.00 |
| Entity | Individual |
| Role | Unit CEO CEO & President of Dover Fluids |
| Shares | 6,559 |
| Max Price | US$109.48 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 1,000 |
| Max Price | US$109.57 |
| Entity | Individual |
| Role | Unit CEO CEO & President of Dover Fluids |
| Shares | 20,049 |
| Max Price | US$98.42 |
| Entity | Individual |
| Role | Head of Human Resources Senior Vice President of Human Resources |
| Shares | 15,416 |
| Max Price | US$98.00 |
| Entity | Individual |
| Shares | 4,241 |
| Max Price | US$90.53 |
| Entity | Individual |
| Shares | 9,038 |
| Max Price | US$92.03 |
| Entity | Individual |
| Role | Chief Legal Officer Senior VP |
| Shares | 7,272 |
| Max Price | US$88.23 |
| Entity | Individual |
| Role | Unit CEO CEO & President of Dover Fluids |
| Shares | 13,102 |
| Max Price | US$87.19 |
| Entity | Individual |
| Role | Head of Human Resources Senior Vice President of Human Resources |
| Shares | 12,363 |
| Max Price | US$87.53 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Rich Tobin (58yo)
President
- Tenure: 1.6yrs
- Compensation: US$28.02m
Jay Kloosterboer (58yo)
Senior Vice President of Human Resources
- Tenure: 8.6yrs
- Compensation: US$1.71m
Bill Spurgeon (60yo)
CEO & President of Dover Fluids
- Tenure: 0yrs
- Compensation: US$2.24m
Brad Cerepak (60yo)
Senior VP & CFO
- Tenure: 8.6yrs
- Compensation: US$3.33m
Paul Goldberg (55yo)
Vice President of Investor Relations
- Tenure: 8.1yrs
Adrian Sakowicz (61yo)
Vice President of Communications
- Tenure: 8.9yrs
Ivonne Cabrera (52yo)
Senior VP
- Tenure: 6.9yrs
- Compensation: US$1.85m
David Malinas (44yo)
Senior Vice President of Operations
- Tenure: 0.4yrs
Andrey Galiuk
Vice President of Corporate Development & Investor Relations
- Tenure: 0yrs
Ryan Paulson
Principal Accounting Officer
- Tenure: 0.6yrs
Board Members
Mike Johnston (71yo)
Independent Chairman
- Tenure: 3.6yrs
- Compensation: US$399.97k
Keith Wandell (69yo)
Independent Director
- Tenure: 4.1yrs
- Compensation: US$257.48k
Kristiane Graham (61yo)
Independent Director
- Tenure: 20.9yrs
- Compensation: US$249.98k
Mary Winston (57yo)
Independent Director
- Tenure: 14.9yrs
- Compensation: US$257.48k
Rich Tobin (58yo)
President
- Tenure: 1.6yrs
- Compensation: US$28.02m
Eric Spiegel (61yo)
Independent Director
- Tenure: 2.8yrs
- Compensation: US$257.48k
Stephen Todd (70yo)
Independent Director
- Tenure: 9.1yrs
- Compensation: US$261.23k
Stephen Wagner (71yo)
Independent Director
- Tenure: 9.1yrs
- Compensation: US$259.98k
H. Gilbertson (62yo)
Independent Director
- Tenure: 1.3yrs
- Compensation: US$114.13k
Company Information
Dover Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Dover Corporation
- Ticker: DOV
- Exchange: NYSE
- Founded: 1947
- Industry: Industrial Machinery
- Sector: Capital Goods
- Market Cap: US$16.342b
- Shares outstanding: 145.27m
- Website: https://www.dovercorporation.com
Number of Employees
Location
- Dover Corporation
- 3005 Highland Parkway
- Downers Grove
- Illinois
- 60515
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| DOV | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Jan 1968 |
| 0ICP | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Jan 1968 |
| DOV | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jan 1968 |
Biography
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Eng ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/10 23:34 |
| End of Day Share Price | 2019/12/10 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.