Market Cap
US$12.9b
Last Updated
2020/04/09 23:35 UTC
Data Sources
Company Financials +
Executive Summary
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide.
Rewards
Risk Analysis
Snowflake Analysis
Solid track record established dividend payer.
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's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
10.9%
DOV
11.0%
US Machinery
9.4%
US Market
1 Year Return
-6.7%
DOV
-16.6%
US Machinery
-6.8%
US Market
Return vs Industry: DOV exceeded the US Machinery industry which returned -17% over the past year.
Return vs Market: DOV exceeded the US Market which returned -8.1% over the past year.
Shareholder returns
| DOV | Industry | Market | |
|---|---|---|---|
| 7 Day | 10.9% | 11.0% | 9.4% |
| 30 Day | -11.1% | -3.9% | -3.9% |
| 90 Day | -22.8% | -22.6% | -16.5% |
| 1 Year | -4.8%-6.7% | -14.1%-16.6% | -4.8%-6.8% |
| 3 Year | 51.1%13.9% | 10.4%2.4% | 23.4%15.2% |
| 5 Year | 70.1%22.0% | 30.2%13.6% | 41.3%25.7% |
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
4 days ago | Simply Wall St
Dover Corporation (NYSE:DOV): Has Recent Earnings Growth Beaten Long-Term Trend?2 weeks ago | Simply Wall St
Can Dover Corporation (NYSE:DOV) Maintain Its Strong Returns?3 weeks ago | Simply Wall St
What Is Dover's (NYSE:DOV) P/E Ratio After Its Share Price Tanked?Valuation
Is Dover undervalued compared to its fair value and its price relative to the market?
16.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: DOV ($89.41) is trading below our estimate of fair value ($107.05)
Significantly Below Fair Value: DOV is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: DOV is poor value based on its PE Ratio (19.2x) compared to the Machinery industry average (15.5x).
PE vs Market: DOV is poor value based on its PE Ratio (19.2x) compared to the US market (13.3x).
Price to Earnings Growth Ratio
PEG Ratio: DOV is poor value based on its PEG Ratio (4.3x)
Price to Book Ratio
PB vs Industry: DOV is overvalued based on its PB Ratio (4.3x) compared to the US Machinery industry average (1.6x).
Next Steps
Future Growth
How is Dover forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
4.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DOV's forecast earnings growth (4.5% per year) is above the savings rate (1.7%).
Earnings vs Market: DOV's earnings (4.5% per year) are forecast to grow slower than the US market (13.3% per year).
High Growth Earnings: DOV's earnings are forecast to grow, but not significantly.
Revenue vs Market: DOV's revenue (1.4% per year) is forecast to grow slower than the US market (6.9% per year).
High Growth Revenue: DOV's revenue (1.4% 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 (26%)
Next Steps
Past Performance
How has Dover performed over the past 5 years?
0.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: DOV has high quality earnings.
Growing Profit Margin: DOV's current net profit margins (9.5%) are higher than last year (8.5%).
Past Earnings Growth Analysis
Earnings Trend: DOV's earnings have grown by 0.3% per year over the past 5 years.
Accelerating Growth: DOV's earnings growth over the past year (14.7%) exceeds its 5-year average (0.3% per year).
Earnings vs Industry: DOV earnings growth over the past year (14.7%) exceeded the Machinery industry -0.9%.
Return on Equity
High ROE: Whilst DOV's Return on Equity (22.35%) is high, this metric is skewed due to their high level of debt.
Next Steps
Financial Health
How is Dover's financial position?
Financial Position Analysis
Short Term Liabilities: DOV's short term assets ($2.5B) exceed its short term liabilities ($1.7B).
Long Term Liabilities: DOV's short term assets ($2.5B) do not cover its long term liabilities ($3.9B).
Debt to Equity History and Analysis
Debt Level: DOV's debt to equity ratio (101.2%) is considered high.
Reducing Debt: DOV's debt to equity ratio has increased from 81.9% to 101.2% over the past 5 years.
Debt Coverage: DOV's debt is well covered by operating cash flow (30.8%).
Interest Coverage: DOV's interest payments on its debt are well covered by EBIT (8.7x coverage).
Balance Sheet
Next Steps
Dividend
What is Dover's current dividend yield, its reliability and sustainability?
2.19%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: DOV's dividend (2.19%) is higher than the bottom 25% of dividend payers in the US market (1.89%).
High Dividend: DOV's dividend (2.19%) is low compared to the top 25% of dividend payers in the US market (5.26%).
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 (41.6%), 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 (32.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.2yrs
Average management tenure
CEO
Rich Tobin (58yo)
1.92s
Tenure
US$9,149,075
Compensation
Mr. Richard Joseph Tobin, also known as Rich, is President and Chief Executive Officer at Dover Corporation since May 01, 2018. He was the Chief Executive Officer of CNH Industrial N.V. since January 2012 ...
CEO Compensation Analysis
Compensation vs Market: Rich's total compensation ($USD9.15M) is about average for companies of similar size in the US market ($USD11.77M).
Compensation vs Earnings: Rich's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.92yrs | US$9.15m | 0.044% $5.7m | |
| Senior VP & CFO | 8.92yrs | US$3.76m | 0.056% $7.2m | |
| Senior VP | 7.25yrs | US$2.06m | 0.011% $1.5m | |
| Senior Vice President of Operations | 0.75yr | no data | 0.00041% $52.8k | |
| Principal Accounting Officer | 0.92yr | no data | 0.00071% $91.5k | |
| Vice President of Investor Relations | 8.42yrs | no data | no data | |
| Vice President of Communications | 9.25yrs | no data | no data | |
| Vice President of Corporate Development & Investor Relations | no data | no data | no data | |
| Senior Vice President of Human Resources | 0.25yr | no data | 0.00035% $45.1k | |
| Senior Vice President of Global Sourcing | 5.17yrs | no data | no data |
5.2yrs
Average Tenure
55yo
Average Age
Experienced Management: DOV's management team is seasoned and experienced (5.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.92yrs | US$9.15m | 0.044% $5.7m | |
| Independent Chairman | 3.92yrs | US$400.01k | 0.0028% $358.1k | |
| Independent Director | 4.42yrs | US$260.05k | 0.0044% $566.8k | |
| Independent Director | 21.25yrs | US$250.05k | 0.34% $43.7m | |
| Independent Director | 15.25yrs | US$250.05k | 0.011% $1.4m | |
| Independent Director | 3.17yrs | US$260.05k | 0.0039% $507.6k | |
| Independent Director | 9.42yrs | US$265.05k | 0.0055% $713.7k | |
| Independent Director | 9.42yrs | US$260.05k | 0.0028% $355.6k | |
| Independent Director | 1.67yrs | US$250.05k | 0.0013% $162.3k |
4.4yrs
Average Tenure
62yo
Average Age
Experienced Board: DOV's board of directors are considered experienced (4.4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: DOV insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
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$12.883b
- Shares outstanding: 144.08m
- 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 |
| DOV | BRSE (Berne Stock Exchange) | Yes | Common Stock | CH | CHF | Jan 1968 |
| D1OV34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH 2 REPR 1 COM | BR | BRL | Jan 2020 |
Biography
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle services, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems. This segment also offers manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers and slides and end effectors. The Fueling Solutions segment transports fuels and other hazardous fluids, as well as operates retail fueling and vehicle wash establishments. The Imaging and Identification segment provides precision marking and coding; product traceability; and digital textile printing equipment, as well as related consumables. The Pumps and Process Solutions segment manufactures specialty pumps, fluid handling components, plastics and polymer processing equipment, and highly engineered components for rotating and reciprocating machines. This segment also manufactures pumps that are used to transfer liquid and bulk products in various markets, including plastics and polymers processing, chemicals production, food/sanitary, biopharma, medical, transportation, petroleum refining, power generation and general industrial applications. The Refrigeration & Food Equipment segment manufactures refrigeration systems, refrigeration display cases, commercial glass refrigerators and freezer doors, and brazed heat exchangers for industrial heating and cooling, and residential climate control applications; and commercial food service equipment and can-shaping machinery. The company sells its products directly and through a network of distributors. Dover Corporation was incorporated in 1947 and is headquartered in Downers Grove, Illinois.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/09 23:35 |
| End of Day Share Price | 2020/04/09 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.