NYSE:DOV

Stock Analysis Report

Executive Summary

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide.

Snowflake

Fundamentals

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


Market Performance


7 Day Return

4.8%

NYSE:DOV

6.0%

US Machinery

1.2%

US Market


1 Year Return

12.6%

NYSE:DOV

-2.1%

US Machinery

1.7%

US Market

DOV outperformed the Machinery industry which returned -2.1% over the past year.

DOV outperformed the Market in United States of America which returned 1.7% over the past year.


Share holder returns

DOVIndustryMarket
7 Day4.8%6.0%1.2%
30 Day12.0%11.3%4.9%
90 Day3.7%4.1%3.7%
1 Year15.1%12.6%-0.06%-2.1%3.9%1.7%
3 Year95.2%46.7%54.6%44.5%47.2%37.7%
5 Year63.1%16.8%54.3%35.2%60.0%42.4%

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

Valuation

Is Dover undervalued based on future cash flows and its price relative to the stock market?

23.49x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Dover's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Dover's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Dover is overvalued based on earnings compared to the US Machinery industry average.

Dover is overvalued based on earnings compared to the United States of America market.


Price Based on Expected Growth

Dover is poor value based on expected growth next year.


Price Based on Value of Assets

Dover is overvalued based on assets compared to the US Machinery industry average.


Next Steps

Future Growth

How is Dover expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

10.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Dover's revenue is expected to grow by 2.4% yearly, however this is not considered high growth (20% yearly).

Dover's earnings are expected to grow by 10% yearly, however this is not considered high growth (20% yearly).

Dover's revenue growth is positive but not above the United States of America market average.

Dover's earnings growth is positive but not above the United States of America market average.

Dover's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Dover is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has Dover performed over the past 5 years?

-2.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Dover's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.

Dover's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Dover's 1-year earnings growth is negative, it can't be compared to the US Machinery industry average.


Return on Equity

Whilst Dover has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.


Return on Assets

Dover used its assets more efficiently than the US Machinery industry average last year based on Return on Assets.


Return on Capital Employed

Dover has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Dover's financial position?


Financial Position Analysis

Dover is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Dover's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Dover's level of debt (111.8%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (67.9% vs 111.8% today).

Debt is well covered by operating cash flow (25.4%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 8.3x coverage).


Balance Sheet

High level of physical assets or inventory.

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?

2.10%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Dover's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).

Dover's dividend is below the markets top 25% of dividend payers in United States of America (3.67%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.2x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).


Next Steps

Management

What is the CEO of Dover's salary, the management and board of directors tenure and is there insider trading?

7.3yrs

Average management tenure


CEO

Rich Tobin (58yo)

1.3yrs

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  ...


CEO Compensation Analysis

Rich's remuneration is higher than average for companies of similar size in United States of America.

Rich's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.


Management Age and Tenure

7.3yrs

Average Tenure

58yo

Average Age

The average tenure for the Dover management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

3.8yrs

Average Tenure

62yo

Average Age

The tenure for the Dover board of directors is about average.


Insider Trading

Dover individual insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$1,973,16226 Jul 19
William Spurgeon
EntityIndividual
Role
Unit CEO
CEO & President of Dover Fluids
Shares20,049
Max PriceUS$98.42
SellUS$1,510,77425 Jul 19
Jay Kloosterboer
EntityIndividual
Role
Head of Human Resources
Senior Vice President of Human Resources
Shares15,416
Max PriceUS$98.00
SellUS$383,92201 Mar 19
Anthony Kosinski
EntityIndividual
Shares4,241
Max PriceUS$90.53
SellUS$831,02927 Feb 19
Carrie Anderson
EntityIndividual
Shares9,038
Max PriceUS$92.03
SellUS$641,60912 Feb 19
Ivonne Cabrera
EntityIndividual
Role
Chief Legal Officer
Senior VP
Shares7,272
Max PriceUS$88.23
SellUS$1,142,37808 Feb 19
William Spurgeon
EntityIndividual
Role
Unit CEO
CEO & President of Dover Fluids
Shares13,102
Max PriceUS$87.19
SellUS$1,082,14205 Feb 19
Jay Kloosterboer
EntityIndividual
Role
Head of Human Resources
Senior Vice President of Human Resources
Shares12,363
Max PriceUS$87.53
SellUS$164,58025 Oct 18
Mary Winston
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,000
Max PriceUS$82.29

Ownership Breakdown


Management Team

  • Rich Tobin (58yo)

    President

    • Tenure: 1.3yrs
    • Compensation: US$28.02m
  • Jay Kloosterboer (58yo)

    Senior Vice President of Human Resources

    • Tenure: 8.3yrs
    • 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: 8.3yrs
    • Compensation: US$3.33m
  • Paul Goldberg (55yo)

    Vice President of Investor Relations

    • Tenure: 7.8yrs
  • Adrian Sakowicz (61yo)

    Vice President of Communications

    • Tenure: 8.7yrs
  • Ivonne Cabrera (52yo)

    Senior VP

    • Tenure: 6.7yrs
    • Compensation: US$1.85m
  • David Malinas (44yo)

    Senior Vice President of Operations

    • Tenure: 0.2yrs
  • Andrey Galiuk

    Vice President of Corporate Development & Investor Relations

    • Tenure: 0yrs
  • Ryan Paulson

    Principal Accounting Officer

    • Tenure: 0.3yrs

Board Members

  • Mike Johnston (71yo)

    Independent Chairman

    • Tenure: 3.3yrs
    • Compensation: US$399.97k
  • Keith Wandell (69yo)

    Independent Director

    • Tenure: 3.8yrs
    • Compensation: US$257.48k
  • Kristiane Graham (61yo)

    Independent Director

    • Tenure: 20.7yrs
    • Compensation: US$249.97k
  • Mary Winston (57yo)

    Independent Director

    • Tenure: 14.7yrs
    • Compensation: US$257.47k
  • Rich Tobin (58yo)

    President

    • Tenure: 1.3yrs
    • Compensation: US$28.02m
  • Eric Spiegel (61yo)

    Independent Director

    • Tenure: 2.6yrs
    • Compensation: US$257.48k
  • Stephen Todd (70yo)

    Independent Director

    • Tenure: 8.8yrs
    • Compensation: US$261.23k
  • Stephen Wagner (71yo)

    Independent Director

    • Tenure: 8.8yrs
    • Compensation: US$259.97k
  • H. Gilbertson (62yo)

    Independent Director

    • Tenure: 1.1yrs
    • 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$14.496b
  • Shares outstanding: 145.44m
  • Website: https://www.dovercorporation.com

Number of Employees


Location

  • Dover Corporation
  • 3005 Highland Parkway
  • Downers Grove
  • Illinois
  • 60515
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DOVNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1968
0ICPLSE (London Stock Exchange)YesCommon StockGBUSDJan 1968
DOVDB (Deutsche Boerse AG)YesCommon StockDEEURJan 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/14 23:47
End of Day Share Price2019/09/13 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.