Dover Corporation

NYSE:DOV Stock Report

Market Cap: US$27.6b

Dover Valuation

Is DOV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DOV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DOV ($201.18) is trading below our estimate of fair value ($252.01)

Significantly Below Fair Value: DOV is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DOV?

Key metric: As DOV is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for DOV. This is calculated by dividing DOV's market cap by their current earnings.
What is DOV's PE Ratio?
PE Ratio18x
EarningsUS$1.53b
Market CapUS$27.60b

Price to Earnings Ratio vs Peers

How does DOV's PE Ratio compare to its peers?

The above table shows the PE ratio for DOV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average26.8x
FTV Fortive
29.2x14.1%US$26.0b
OTIS Otis Worldwide
24.3x5.4%US$39.6b
SNA Snap-on
18x1.3%US$18.7b
XYL Xylem
35.6x14.1%US$29.6b
DOV Dover
18x-11.4%US$27.6b

Price-To-Earnings vs Peers: DOV is good value based on its Price-To-Earnings Ratio (18x) compared to the peer average (26.8x).

Price to Earnings Ratio vs Industry

How does DOV's PE Ratio compare vs other companies in the US Machinery Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AIRJ AirJoule Technologies
1.8xn/aUS$411.62m
CVGI Commercial Vehicle Group
2.9x-46.6%US$80.23m
FATH Fathom Digital Manufacturing
2.6xn/aUS$35.24m
ZEVY Lightning eMotors
n/an/aUS$6.00
No more companies available in this PE range
DOV 18.0xIndustry Avg. 24.1xNo. of Companies9PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DOV is good value based on its Price-To-Earnings Ratio (18x) compared to the US Machinery industry average (24.1x).

Price to Earnings Ratio vs Fair Ratio

What is DOV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DOV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18x
Fair PE Ratio15.2x

Price-To-Earnings vs Fair Ratio: DOV is expensive based on its Price-To-Earnings Ratio (18x) compared to the estimated Fair Price-To-Earnings Ratio (15.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DOV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$201.18
US$211.37
+5.1%
6.0%US$227.00US$184.00n/a17
Nov ’25US$189.11
US$210.33
+11.2%
6.1%US$227.00US$184.00n/a16
Oct ’25US$190.41
US$203.78
+7.0%
5.0%US$219.00US$186.00n/a15
Sep ’25US$186.03
US$202.65
+8.9%
5.2%US$219.00US$186.00n/a15
Aug ’25US$179.15
US$203.32
+13.5%
5.6%US$223.00US$186.00n/a15
Jul ’25US$176.99
US$195.80
+10.6%
4.1%US$210.00US$185.00n/a16
Jun ’25US$183.82
US$194.50
+5.8%
5.3%US$210.00US$173.00n/a15
May ’25US$177.85
US$191.62
+7.7%
6.2%US$210.00US$169.30n/a16
Apr ’25US$175.53
US$175.62
+0.05%
7.5%US$207.00US$153.00n/a15
Mar ’25US$167.30
US$174.95
+4.6%
7.4%US$207.00US$153.00n/a15
Feb ’25US$156.55
US$168.79
+7.8%
9.4%US$207.00US$145.00n/a14
Jan ’25US$153.81
US$162.86
+5.9%
9.0%US$194.00US$132.00n/a14
Dec ’24US$143.21
US$160.00
+11.7%
9.8%US$194.00US$132.00n/a14
Nov ’24US$129.08
US$160.08
+24.0%
9.5%US$194.00US$132.00US$189.1116
Oct ’24US$139.51
US$165.55
+18.7%
10.6%US$202.00US$136.00US$190.4117
Sep ’24US$148.70
US$165.43
+11.3%
10.7%US$202.00US$136.00US$186.0317
Aug ’24US$145.48
US$165.68
+13.9%
10.4%US$202.00US$136.00US$179.1518
Jul ’24US$147.65
US$164.74
+11.6%
10.5%US$200.00US$136.00US$176.9918
Jun ’24US$135.06
US$164.79
+22.0%
10.5%US$200.00US$136.00US$183.8218
May ’24US$146.41
US$166.88
+14.0%
10.5%US$200.00US$136.00US$177.8516
Apr ’24US$151.94
US$166.33
+9.5%
8.3%US$185.00US$141.00US$175.5315
Mar ’24US$150.12
US$162.53
+8.3%
8.1%US$185.00US$141.00US$167.3015
Feb ’24US$156.60
US$161.87
+3.4%
8.6%US$185.00US$140.00US$156.5515
Jan ’24US$135.41
US$152.40
+12.5%
12.6%US$189.00US$122.00US$153.8115
Dec ’23US$142.49
US$147.43
+3.5%
12.0%US$189.00US$122.00US$143.2114
Nov ’23US$132.70
US$147.43
+11.1%
12.0%US$189.00US$122.00US$129.0814

Analyst Forecast: Target price is less than 20% higher than the current share price.

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