Dover Corp Stock Research

Market Summary

USD137.03+1.81

Market Closed

1.34%

DOV Stock Price

DOV RSI Chart

DOV Valuation

Market Cap

19.2B

Price/Earnings (Trailing)

17.93

Price/Sales (Trailing)

2.24

EV/EBITDA

10.82

Price/Free Cashflow

23.81

DOV Price/Sales (Trailing)

DOV Profitability

Return on Equity

24.85%

Return on Assets

9.78%

Free Cashflow Yield

4.2%

DOV Fundamentals

DOV Revenue

Revenue (TTM)

8.5B

Revenue Y/Y

1.32%

Revenue Q/Q

-2.81%

DOV Earnings

Earnings (TTM)

1.1B

Earnings Y/Y

1.07%

Earnings Q/Q

-13.28%

Price Action

52 Week Range

113.69160.11

(Low)(High)

Last 7 days

-1.8%

Last 30 days

-2.7%

Last 90 days

-7.3%

Trailing 12 Months

4.5%

DOV Financial Health

Current Ratio

1.23

Debt/Equity

0.66

Debt/Cashflow

0.28

DOV Investor Care

Dividend Yield

1.47%

Dividend/Share (TTM)

2.02

Buy Backs (1Y)

3.01%

Diluted EPS (TTM)

7.5

Peers (Alternatives to Dover)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CAT	118.3B	61.7B	-2.03%	0.80%	17.64	1.99	17.14%	3.25%
DE	106.3B	55.7B	-4.64%	3.17%	12.98	1.91	25.13%	45.08%
CMI	33.1B	30.1B	-6.67%	6.52%	15.16	1.18	23.97%	0.88%
DOV	19.2B	8.5B	-2.68%	4.52%	17.93	2.24	5.49%	-4.42%
MID-CAP
LECO	10.0B	313.9M	11.27%	30.71%	21.37	31.88	-83.74%	42.51%
PNR	9.5B	4.2B	9.88%	15.61%	19.25	2.29	6.47%	-9.04%
AGCO	8.6B	12.7B	-6.66%	-7.39%	8.82	0.68	13.58%	8.06%
TEX	3.1B	4.4B	9.34%	39.29%	10.4	0.71	13.66%	35.81%
JBT	3.4B	2.2B	0.50%	-11.90%	25.73	1.51	15.97%	11.71%
KMT	2.1B	2.1B	2.70%	-6.33%	16.64	1	2.98%	-10.34%
SMALL-CAP
CMCO	1.1B	935.8M	11.65%	23.03%	23.01	1.14	11.48%	69.08%
HY	858.5M	3.7B	-1.92%	36.32%	-11.59	0.24	17.31%	88.95%
PLOW	669.6M	596.0M	0.03%	-3.69%	22.77	1.12	10.23%	12.93%
MTW	525.4M	2.1B	-1.25%	18.56%	-4.77	0.25	14.08%	-740.70%

Financials for Dover

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	0.3%	8,535	8,508	8,358	8,218	8,091
Gross Profit	0.1%	3,067	3,064	3,019	3,001	2,991
S&GA Expenses	-0.7%	1,673	1,684	1,709	1,720	1,723
EBITDA	0.2%	1,806	1,802	-	-	-
EBITDA Margin	-1.3%	0.22*	0.22*	-	-	-
EBT Margin	-1.5%	0.17*	0.17*	-	-	-
Interest Expenses	6.6%	124	116	110	106	106
Net Income	0.2%	1,068	1,065	1,165	1,142	1,117
Net Income Margin	-10.1%	0.13*	0.14*	0.14*	0.14*	-
Free Cahsflow	1.2%	585	578	682	772	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-0.8%	10,805	10,897	10,652	10,807	10,501
Current Assets	-3.1%	3,316	3,423	3,377	3,591	3,232
Cash Equivalents	-28.5%	272	381	306	515	290
Inventory	2.8%	1,405	1,367	1,408	1,382	1,322
Net PPE	0.7%	1,012	1,005	959	964	960
Goodwill	0.2%	4,681	4,669	4,532	153	4,526
Current Liabilities	-9.5%	2,508	2,773	2,889	2,548	2,247
. Short Term Borrowings	-30.1%	515	736	789	-	-
Long Term Debt	-3.2%	2,843	2,936	2,982	-	-
LT Debt, Non Current	0.6%	2,961	2,943	2,843	2,936	2,982
Shareholder's Equity	4.1%	4,461	4,286	3,991	4,389	4,330
Retained Earnings	-	10,223	-	-	-	-
Additional Paid-In Capital	-	868	-	-	-	-
Shares Outstanding	-1.9%	140	143	144	144	-

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	27.0%	1,023	806	794	881	962
Share Based Compensation	3.8%	32.00	31.00	31.00	31.00	31.00
Cashflow From Investing	0.6%	-537	-540	-1,108	-957	-1,010
Cashflow From Financing	-88.9%	-491	-260	-108	-4.43	-200
Dividend Payments	-0.5%	286	288	289	288	288
Buy Backs	0%	585	585	85.00	0.00	-

Risks for DOV

What is the probability of a big loss on DOV?

57.3%

Probability that Dover stock will be more than 20% underwater in next one year

31.1%

Probability that Dover stock will be more than 30% underwater in next one year.

18.5%

Probability that Dover stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does DOV drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Dover was unfortunately bought at previous high price.

Drawdowns

Returns for DOV

Cumulative Returns on DOV

12.1%

10-Year Cumulative Returns

16.4%

7-Year Cumulative Returns

13.6%

5-Year Cumulative Returns

14.8%

3-Year Cumulative Returns

What are the long-term rolling returns for DOV?

FIve years rolling returns for Dover.

Annualized Returns

Which funds bought or sold DOV recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-24	Old North State Trust, LLC	added	3.00	6,000	47,000	0.03%
2023-05-23	Toroso Investments, LLC	added	118	659,000	1,114,000	0.02%
2023-05-23	Front Row Advisors LLC	added	46.51	4,000	10,000	-%
2023-05-23	Brookfield Corp /ON/	reduced	-16.53	-455,261	6,722,280	0.03%
2023-05-22	Raleigh Capital Management Inc.	added	7.71	43,215	250,534	0.12%
2023-05-22	American Trust	reduced	-7.34	109,029	2,852,980	0.20%
2023-05-22	FDx Advisors, Inc.	unchanged	-	-	479,000	0.02%
2023-05-22	AMERIPRISE FINANCIAL INC	added	8.58	6,877,820	38,368,800	0.01%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-2.79	2,663,000	32,008,000	0.04%
2023-05-18	SkyView Investment Advisors, LLC	new	-	-	-	-%

Latest Funds Activity

Are funds buying DOV calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own DOV

No. of Funds

Dover News

Schedule 13G FIlings of Dover

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Mar 06, 2023	jpmorgan chase & co	10.0%	14,019,056	SC 13G/A
Feb 09, 2023	vanguard group inc	11.88%	16,671,320	SC 13G/A
Jan 31, 2023	blackrock inc.	7.0%	10,071,936	SC 13G/A
Jan 20, 2023	jpmorgan chase & co	9.1%	12,861,359	SC 13G/A
Feb 09, 2022	vanguard group inc	11.58%	16,671,379	SC 13G/A
Feb 09, 2022	state street corp	4.86%	7,002,476	SC 13G/A
Feb 01, 2022	blackrock inc.	7.4%	10,713,313	SC 13G/A
Jan 10, 2022	jpmorgan chase & co	7.8%	11,268,963	SC 13G/A
Feb 12, 2021	boston partners	2.91%	4,196,019	SC 13G/A
Feb 10, 2021	vanguard group inc	11.15%	16,069,537	SC 13G/A

DOV Fair Value

Dover fair value in different scenarios

The table shows the Fair Value estimates for Dover for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	69.52 -49.27%	83.65 -38.95%	107.66 -21.43%	164.54 20.08%	205.14 49.70%
Current Inflation	64.34 -53.05%	76.50 -44.17%	96.83 -29.34%	144.80 5.67%	178.92 30.57%
Very High Inflation	57.85 -57.78%	67.73 -50.57%	83.86 -38.80%	121.76 -11.14%	148.61 8.45%

Historical Dover Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Dover

View All Filings

Date Filed	Form Type	Document
May 10, 2023	8-K	Current Report
Apr 26, 2023	10-Q	Quarterly Report
Apr 26, 2023	8-K	Current Report
Apr 18, 2023	DEFA14A	DEFA14A
Apr 11, 2023	8-K	Current Report
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading

Latest Insider Trading transactions for DOV

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-15	Moran James M	sold (taxes)	-12,612	140	-90.00	vice president and treasurer
2023-03-15	Juneja Girish	sold (taxes)	-35,595	140	-254	svp and chief digital officer
2023-03-15	Tobin Richard J	sold (taxes)	-795,715	140	-5,678	ceo and president
2023-03-15	BORS KIMBERLY K	sold (taxes)	-30,830	140	-220	svp, human resources
2023-03-15	Paulson Ryan	sold (taxes)	-12,612	140	-90.00	vp, controller
2023-03-15	Malinas David J.	sold (taxes)	-29,149	140	-208	svp, operations
2023-03-15	Cabrera Ivonne M	sold (taxes)	-76,376	140	-545	svp and general counsel
2023-03-15	Cerepak Brad M	sold (taxes)	-215,816	140	-1,540	senior vice president and cfo
2023-03-15	Kosinski Anthony K	sold (taxes)	-14,574	140	-104	vice president, tax
2023-03-13	Cerepak Brad M	sold	-5,009,640	143	-34,972	senior vice president and cfo

About Dover

Richard J. Tobin

www.dovercorporation.com

25000

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market. This segment also offers manual and power clamp, rotary and linear mechanical indexer, conveyor, pick and place unit, glove port, and manipulator, as well as end-of-arm robotic gripper, slide, and end effector. Its Clean Energy & Fueling segment offers component, equipment, and software and service solution enabling safe transport of traditional and clean fuel, and other hazardous substance along with supply chain, as well as operation of convenience retail, retail fueling, and vehicle wash establishment. The Imaging and Identification segment provides precision marking and coding; packaging intelligence; product traceability equipment; brand protection; and digital textile printing equipment, as well as related consumable, software, and service to packaged and consumer good, pharmaceutical, industrial manufacturing, fashion and apparel, and other end-market. Its Pumps and Process Solutions segment manufactures specialty pump, connector, and flow meter, fluid connecting solution, plastics and polymer processing equipment, and engineered components for rotating and reciprocating machines. The Climate & Sustainability Technologies segment manufactures refrigeration system, refrigeration display case, commercial glass refrigerator and freezer door, and brazed plate heat exchanger for industrial heating and cooling, and residential climate control applications. It sells its products directly and through a network of distributors. The company was incorporated in 1947 and is headquartered in Downers Grove, Illinois.

DOV Income Statement

2023-03-31

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 2,079,023	$ 2,051,901
Cost of goods and services	1,332,004	1,308,707
Gross profit	747,019	743,194
Selling, general and administrative expenses	432,414	443,843
Operating earnings	314,605	299,351
Interest expense	34,214	26,552
Interest income	(2,091)	(775)
Other income, net	(3,808)	(2,129)
Earnings before provision for income taxes	286,290	275,703
Provision for income taxes	57,716	49,550
Net earnings	$ 228,574	$ 226,153
Net earnings per share:
Basic (in dollars per share)	$ 1.64	$ 1.57
Diluted (in dollars per share)	$ 1.63	$ 1.56
Weighted average shares outstanding:
Basic (in shares)	139,757	144,087
Diluted (in shares)	140,616	145,329

DOV Balance Sheet

2023-03-31

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 272,426	$ 380,868
Receivables, net	1,460,970	1,516,871
Inventories, net	1,405,416	1,366,608
Prepaid and other current assets	177,038	159,118
Total current assets	3,315,850	3,423,465
Property, plant and equipment, net	1,011,707	1,004,825
Goodwill	4,680,713	4,669,494
Intangible assets, net	1,301,696	1,333,735
Other assets and deferred charges	494,679	465,000
Total assets	10,804,645	10,896,519
Current liabilities:
Short-term borrowings	514,567	735,772
Accounts payable	1,039,162	1,068,144
Accrued compensation and employee benefits	191,687	269,785
Deferred revenue	285,209	256,933
Accrued insurance	94,573	92,876
Other accrued expenses	320,435	318,337
Federal and other income taxes	62,860	31,427
Total current liabilities	2,508,493	2,773,274
Long-term debt	2,961,362	2,942,513
Deferred income taxes	358,831	375,150
Noncurrent income tax payable	44,313	44,313
Other liabilities	471,085	474,903
Stockholders' equity:
Total stockholders' equity	4,460,561	4,286,366
Total liabilities and stockholders' equity	$ 10,804,645	$ 10,896,519