Dover Corporation (DOV) Key Metrics
DOV valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $26.37B
- Enterprise value
- $26.96B
- P/E (TTM)
- 23.7 10-yr median 19.7
- Forward P/E
- 16.9
- PEG ratio
- 1.47
- Price / sales
- 3.1 10-yr median 2.5
- Price / book
- 3.3 10-yr median 4.1
- EV / EBITDA
- 14.0 10-yr median 14.9
- Dividend yield
- 1.07% $2.10 a year
- Beta
- 1.13
DOV key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsDOV valuation Price multiples at each fiscal year-end price.
DOV returns How much profit the business earns on the capital it uses.
DOV per-share figures Results divided by the shares outstanding at year-end.
DOV financial health Debt, liquidity and how easily interest is covered.
DOV efficiency & capital use Working capital cycle and where the cash goes.
DOV valuation history
DOV returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DOV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DOV cash returned to shareholders
DOV price vs earnings per share
DOV key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $26.95B | $26.02B | $21.63B | $19.44B | $26.38B | $18.36B | $16.94B | $10.79B | $12.87B | $9.48B |
| Enterprise value | $29.05B | $27.33B | $24.91B | $22.95B | $29.30B | $21.00B | $19.78B | $13.56B | $15.68B | $12.75B |
| P/E ratio | 24.6 | 9.6 | 20.5 | 18.3 | 23.5 | 26.9 | 25.0 | 18.9 | 15.9 | 18.6 |
| Price / sales | 3.3 | 3.4 | 2.6 | 2.5 | 3.3 | 2.7 | 2.4 | 1.5 | 1.9 | 1.6 |
| Price / book | 3.6 | 3.7 | 4.2 | 4.5 | 6.3 | 5.4 | 5.6 | 3.9 | 2.9 | 2.5 |
| Price / free cash flow | 24.1 | 44.8 | 18.9 | 33.3 | 27.9 | 19.5 | 22.3 | 17.5 | 19.3 | 13.6 |
| Price / operating cash flow | 20.1 | 34.8 | 16.2 | 24.1 | 23.6 | 16.6 | 17.9 | 13.5 | 15.4 | 11.0 |
| EV / sales | 3.6 | 3.5 | 3.0 | 2.9 | 3.7 | 3.1 | 2.8 | 1.9 | 2.3 | 2.1 |
| EV / EBITDA | 15.6 | 12.3 | 18.2 | 14.2 | 16.3 | 17.0 | 15.9 | 11.9 | 12.0 | 11.9 |
| EV / free cash flow | 26.0 | 47.0 | 21.8 | 39.2 | 31.0 | 22.4 | 26.1 | 21.9 | 23.6 | 18.3 |
| Earnings yield | 4.1% | 10.4% | 4.9% | 5.5% | 4.3% | 3.7% | 4.0% | 5.3% | 6.3% | 5.4% |
| Free cash flow yield | 4.1% | 2.2% | 5.3% | 3.0% | 3.6% | 5.1% | 4.5% | 5.7% | 5.2% | 7.3% |
| Dividend yield | 1.1% | 1.1% | 1.3% | 1.5% | 1.1% | 1.5% | 1.7% | 2.6% | 2.2% | 2.8% |
| Shareholder yield (dividends + buybacks) | 1.1% | 3.0% | 1.4% | 4.5% | 1.2% | 2.1% | 2.5% | 10.9% | 3.0% | 3.0% |
| Share price at fiscal year-end | $195.24 | $187.60 | $153.81 | $135.41 | $181.60 | $126.25 | $115.26 | $70.95 | $81.58 | $60.52 |
| Per share | ||||||||||
| Revenue per share | $58.63 | $55.85 | $60.02 | $54.63 | $54.43 | $45.97 | $48.55 | $45.96 | $43.24 | $38.58 |
| Earnings per share | $7.93 | $19.45 | $7.52 | $7.42 | $7.74 | $4.70 | $4.61 | $3.75 | $5.15 | $3.25 |
| Operating cash flow per share | $9.69 | $5.40 | $9.50 | $5.61 | $7.68 | $7.60 | $6.43 | $5.25 | $5.30 | $5.50 |
| Free cash flow per share | $8.10 | $4.19 | $8.13 | $4.07 | $6.50 | $6.46 | $5.16 | $4.06 | $4.22 | $4.45 |
| Cash per share | $12.15 | $13.30 | $2.83 | $2.65 | $2.65 | $3.53 | $2.70 | $2.60 | $4.78 | $2.23 |
| Book value per share | $53.65 | $50.14 | $36.32 | $29.85 | $28.84 | $23.29 | $20.63 | $18.20 | $27.79 | $24.26 |
| Tangible book value per share | $1.56 | $3.37 | −$8.95 | −$11.96 | −$11.90 | −$12.18 | −$12.28 | −$13.43 | −$3.71 | −$16.38 |
| Dividends per share | $2.05 | $2.04 | $2.02 | $2.00 | $1.97 | $1.96 | $1.92 | $1.86 | $1.80 | $1.71 |
| Capex per share | $1.60 | $1.21 | $1.37 | $1.54 | $1.18 | $1.14 | $1.27 | $1.12 | $1.08 | $1.05 |
| Debt per share | $27.38 | $22.74 | $26.17 | $27.07 | $22.73 | $21.72 | $22.00 | $20.80 | $22.62 | $23.12 |
| Shares outstanding | 138.0M | 138.7M | 140.6M | 143.6M | 145.3M | 145.4M | 147.0M | 152.1M | 157.7M | 156.6M |
| Change in shares outstanding | −0.5% | −1.4% | −2.1% | −1.2% | −0.1% | −1.1% | −3.4% | −3.6% | +0.7% | −1.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 15.2% | 44.7% | 22.5% | 25.1% | 29.7% | 21.3% | 23.4% | 15.9% | 19.8% | 13.7% |
| Return on invested capital (ROIC) | 12.3% | 11.5% | 14.1% | 14.3% | 15.7% | 12.7% | 13.7% | 10.8% | 9.6% | 7.9% |
| Return on assets (ROA) | 8.4% | 22.6% | 9.5% | 10.0% | 11.5% | 7.7% | 8.0% | 6.0% | 7.8% | 5.4% |
| Return on tangible assets | 17.6% | 44.8% | 21.2% | 21.8% | 25.1% | 17.1% | 17.7% | 16.0% | 14.3% | 13.6% |
| Free cash flow margin | 13.8% | 7.5% | 13.6% | 7.5% | 11.9% | 14.1% | 10.6% | 8.8% | 9.8% | 11.5% |
| Income quality (OCF / net income) | 1.22 | 0.28 | 1.26 | 0.76 | 0.99 | 1.62 | 1.39 | 1.40 | 1.03 | 1.69 |
| Financial health | ||||||||||
| Total debt | $3.78B | $3.15B | $3.68B | $3.89B | $3.30B | $3.16B | $3.23B | $3.16B | $3.57B | $3.62B |
| Cash & short-term investments | $1.68B | $1.84B | $398.6M | $380.9M | $385.5M | $513.1M | $397.3M | $396.2M | $754.0M | $349.1M |
| Net debt | $2.10B | $1.31B | $3.28B | $3.51B | $2.92B | $2.64B | $2.84B | $2.77B | $2.81B | $3.27B |
| Debt / equity | 0.51 | 0.45 | 0.72 | 0.91 | 0.79 | 0.93 | 1.07 | 1.14 | 0.81 | 0.95 |
| Debt / assets | 0.28 | 0.25 | 0.32 | 0.36 | 0.32 | 0.35 | 0.37 | 0.38 | 0.33 | 0.36 |
| Net debt / EBITDA | 1.13 | 0.59 | 2.40 | 2.17 | 1.62 | 2.15 | 2.29 | 2.43 | 2.16 | 3.06 |
| Current ratio | 1.79 | 2.04 | 1.40 | 1.23 | 1.36 | 1.51 | 1.46 | 1.37 | 1.21 | 1.33 |
| Quick ratio | 1.28 | 1.52 | 0.90 | 0.74 | 0.83 | 1.03 | 1.00 | 0.96 | 0.92 | 0.89 |
| Interest coverage | 12.5 | 9.2 | 10.4 | 11.0 | 12.1 | 8.3 | 7.7 | 6.4 | 5.6 | 5.2 |
| Working capital | $1.99B | $2.29B | $976.5M | $650.2M | $811.4M | $880.4M | $798.5M | $676.3M | $492.0M | $648.9M |
| Invested capital | $9.51B | $8.26B | $8.39B | $7.79B | $7.11B | $6.03B | $5.87B | $5.54B | $7.20B | $7.07B |
| Tangible asset value | $215.6M | $467.4M | −$1.26B | −$1.72B | −$1.73B | −$1.77B | −$1.81B | −$2.04B | −$585.8M | −$2.57B |
| Net current asset value | −$1.51B | −$1.07B | −$2.85B | −$3.19B | −$3.15B | −$3.15B | −$3.09B | −$3.09B | −$3.49B | −$3.73B |
| Graham number | $97.81 | $148.11 | $78.37 | $70.59 | $70.85 | $49.63 | $46.27 | $39.18 | $56.72 | $42.11 |
| Graham net-net per share | −$19.38 | −$15.30 | −$29.56 | −$30.64 | −$29.01 | −$27.39 | −$26.69 | −$25.65 | −$27.23 | −$29.26 |
| Capital allocation | ||||||||||
| Dividends paid | $283.0M | $283.1M | $284.3M | $287.6M | $286.9M | $284.3M | $282.2M | $283.6M | $284.0M | $268.3M |
| Share buybacks (net) | $0 | $500.0M | $12.1M | $585.0M | $21.6M | $106.3M | $143.3M | $895.0M | $105.0M | $15.7M |
| Dividend payout ratio | 25.9% | 10.5% | 26.9% | 27.0% | 25.5% | 41.6% | 41.6% | 49.7% | 35.0% | 52.7% |
| Dividends + buybacks / free cash flow | 25.3% | 134.8% | 25.9% | 149.2% | 32.7% | 41.6% | 56.1% | 190.6% | 58.4% | 40.8% |
| Capex / revenue | 2.7% | 2.2% | 2.3% | 2.8% | 2.2% | 2.5% | 2.6% | 2.4% | 2.5% | 2.7% |
| Capex / operating cash flow | 16.5% | 22.4% | 14.4% | 27.4% | 15.4% | 15.0% | 19.8% | 21.4% | 20.4% | 19.2% |
| Capex / depreciation | 0.58 | 0.50 | 0.61 | 0.72 | 0.59 | 0.59 | 0.69 | 0.61 | 0.60 | 0.66 |
| Stock-based compensation / revenue | 0.5% | 0.5% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 0.4% | 0.3% |
| R&D / revenue | 1.0% | 1.9% | 1.8% | 1.9% | 2.0% | 2.1% | 2.0% | 2.0% | 1.9% | 1.7% |
| SG&A / revenue | 22.8% | 20.1% | 20.2% | 18.4% | 19.1% | 20.5% | 20.1% | 21.5% | 29.0% | 29.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 61.5 | 65.6 | 64.0 | 67.2 | 57.6 | 64.3 | 62.6 | 63.0 | 65.5 | 72.0 |
| Days of inventory on hand | 90.5 | 90.4 | 88.4 | 94.5 | 74.9 | 71.2 | 62.8 | 58.7 | 65.8 | 80.0 |
| Days payables outstanding | 64.5 | 68.9 | 69.1 | 79.1 | 71.2 | 76.2 | 75.7 | 76.2 | 72.8 | 70.8 |
| Cash conversion cycle (days) | 87.4 | 87.1 | 83.3 | 82.5 | 61.3 | 59.3 | 49.8 | 45.5 | 58.5 | 81.2 |
| Receivables turnover | 5.94 | 5.56 | 5.70 | 5.43 | 6.34 | 5.68 | 5.83 | 5.79 | 5.57 | 5.07 |
| Payables turnover | 5.66 | 5.30 | 5.28 | 4.61 | 5.12 | 4.79 | 4.82 | 4.79 | 5.01 | 5.15 |
| Inventory turnover | 4.03 | 4.04 | 4.13 | 3.86 | 4.87 | 5.13 | 5.81 | 6.22 | 5.55 | 4.56 |
| Asset turnover | 0.62 | 0.65 | 0.76 | 0.74 | 0.81 | 0.75 | 0.84 | 0.74 | 0.66 | 0.65 |
| Average receivables | $1.36B | $1.39B | $1.48B | $1.44B | $1.25B | $1.18B | $1.22B | $1.21B | $1.22B | $1.19B |
| Average payables | $861.8M | $903.3M | $1.01B | $1.07B | $963.8M | $878.4M | $936.2M | $925.8M | $856.2M | $740.6M |
| Average inventory | $1.21B | $1.19B | $1.30B | $1.28B | $1.01B | $821.0M | $777.5M | $712.9M | $773.8M | $836.7M |
| Intangibles / total assets | 53.6% | 51.9% | 56.1% | 55.1% | 56.9% | 56.3% | 55.8% | 57.5% | 46.6% | 62.9% |
Computed from DOV's annual financial statements (latest annual report filed February 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
DOV valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Dover traded at 24.6 times earnings, against a 10-year median of 19.7. Based on the latest twelve months, the trailing P/E is 23.7 and the forward P/E is 16.9. Dover earned a return on equity of 15.2% and a return on invested capital of 12.3% in fiscal 2025. It ended the year with $3.8 billion of debt and $1.7 billion in cash and short-term investments, net debt of $2.1 billion. It returned $283.0 million to shareholders: $283.0 million in dividends and $0 in share buybacks, 25% of free cash flow. The share count fell 11.9% from 156.6M to 138.0M over 9 years.
See the DOV income statement, the DOV chart for price history, or the DOV stock overview for the latest quote and news.
DOV key metrics FAQ
What is Dover's P/E ratio?
Dover's trailing P/E ratio is 23.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 16.9. At the end of fiscal 2025 it was 24.6, compared with a 10-year median of 19.7.
What is Dover's EV/EBITDA?
Dover's enterprise value was 15.6 times EBITDA at the end of fiscal 2025 (enterprise value $29.1 billion, EBITDA $1.9 billion); the current EV/EBITDA is 14.0.
What is Dover's return on equity?
Dover's return on equity (ROE) was 15.2% in fiscal 2025: net income of $1.1 billion on average shareholders' equity of $7.2 billion.
What is Dover's ROIC?
Dover's return on invested capital was 12.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Dover have?
Dover had total debt of $3.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.51 and $2.1 billion of net debt (1.13 times EBITDA).
What is Dover's dividend yield?
Dover's forward dividend yield is 1.07%. Dover paid $283.0 million in dividends in fiscal 2025 ($2.05 per share), a payout ratio of 25.9%.
What is Dover's free cash flow yield?
Dover generated $1.1 billion of free cash flow in fiscal 2025, a free cash flow yield of 4.1% on its market value at year-end ($26.9 billion).
What is Dover's current ratio?
Dover's current ratio was 1.79 at the end of fiscal 2025: current assets were 1.79 times current liabilities.