Dover Corporation logo

Dover Corporation(DOV)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$189.24
09/17/2026
(24-hour delay)

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*as per simulation (see disclosures)
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Upturn Advisory & Investor View for DOV

09/17/2026: DOV (1-star) is currently NOT-A-BUY. Pass it for now.

Dover Corporation is a diversified industrial manufacturer providing critical equipment and services across sectors like fueling, refrigeration, and product identification. The company is known for its decentralized operating model and a high mix of recurring aftermarket revenue, which supports its status as a reliable dividend payer. Its primary growth story revolves around capitalizing on automation, digitization, and the transition to sustainable energy infrastructure. While the company faces risks from global economic cycles and industrial capital expenditure volatility, its disciplined M&A strategy helps mitigate these challenges. Dover is best suited for long-term, income-focused investors looking for steady performance rather than high-growth momentum.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitDover offers moderate growth potential rather than aggressive, high-velocity expansion.
Momentum investorMixed fitThis stock is generally a slow-mover and may not appeal to traders seeking rapid price appreciation.
Value investorStrong fitThe company is often reasonably valued given its consistent cash flows and stable business model.
Dividend investorStrong fitWith over 65 years of consecutive dividend increases, it is a quintessential holding for income-focused portfolios.
Low-risk investorStrong fitIts diversified industrial base and focus on aftermarket revenue reduce operational volatility.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMediumAs an industrial stock, it fluctuates with the general market cycle and macroeconomic sentiment.
Valuation riskLowThe stock historically trades at conservative multiples, limiting extreme downside valuation risk.
Competition risk (Industrial machinery)MediumDover faces specialized competitors who can disrupt niche market shares with new technology.
Business qualityStrongThe company’s high recurring revenue and long-standing brand reputation signify strong business quality.
Dividend incomeStrongThe status as a Dividend King provides extreme confidence in the reliability of income distributions.
Execution riskMediumManaging a decentralized conglomerate requires consistent effective capital allocation to sustain growth.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Smooth
PRICE STABILITY

Smooth

The stock has moved along a generally orderly path with only modest fluctuations.

Analysis of Past Performance

Type Stock
Historic Profit -6.95%
Avg. Invested days 40
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/17/2026

Upturn Scorecard

Upturn Star Rating

DOV receives a 4-star rating, supported by solid company fundamentals, solid quantitative characteristics, and solid analyst coverage. The rating is constrained by weak price momentum.

Company Fundamentals

DOV has solid overall fundamentals (4 stars), with solid financial health, moderate growth momentum, and solid ownership. In FY2025 versus FY2024, solid cash generation (FCF margin 13.8%) and solid profitability (net margin 13.5%) are partially offset by negative earnings growth (-59.4%), moderate revenue growth (+4.5%), modest insider ownership of 1.26%.

Financial Health Rating

DOV's financial health is supported by strong cash strength, including free-cash-flow generation of $1.1B (13.8% of revenue). Profitability is moderate (3 stars), which helps explain the 4-star overall score.

Growth Momentum Score

Free-cash-flow growth is DOV's strongest growth driver at +92.4% FY2025 versus FY2024 (strong, 5 stars). By comparison, while revenue growth (+4.5%, moderate) and earnings growth (-59.4%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

Institutional ownership is 93.4% and approximately 99.3% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 1.26% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

JPMorgan Chase & Co 10.48%
BlackRock Inc 7.44%
Vanguard Capital Management, LLC 6.51%
State Street Corp 4.83%
Vanguard Portfolio Management, LLC 4.80%

Unit Economics (Per $1K Revenue)

DOV generates approximately $398 of gross profit, $170 of operating income, and $138 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

Effective Tax Rate: 20.14%

Quantitative Style Profile

DOV has a high-quality, large-cap, liquid profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedQuality TiltLarge / Mega Cap StabilityHighly Liquid / Institution-Friendly

Key Highlights

Company Size Large-Cap Stock
Market Capitalization 25.37B USD
Price to earnings Ratio 22.83
1Y Target Price 246.89
Price to earnings Ratio 22.83
1Y Target Price 246.89
Volume (30-day avg) 1.1M shares
Beta 1.15
52 Weeks Range 157.36 - 235.79
Updated Date 09/17/2026
52 Weeks Range 157.36 - 235.79
Updated Date 09/17/2026
Dividends yield (FY) 1.10%
Basic EPS (TTM) 8.25

How Company Makes Money

Business areaWhat it includesRetail investor read
Engineered ProductsVehicle aftermarket, waste handling, and industrial components.Steady revenue from essential industrial equipment and services.
Clean Energy & FuelingFuel dispensers and EV charging station components.Direct exposure to the transition of the global fueling infrastructure.
Imaging & IdentificationIndustrial coding, marking, and printing software.High-margin recurring revenue from packaging and labeling needs.
Geography ExposureGlobal footprint with primary revenue from the US, Europe, and Asia.Geographic diversification helps mitigate regional economic downturns.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 22.83
Forward PE 16.89
Enterprise Value 26.87B
Price to Sales(TTM) 3.01
Enterprise Value 26.87B
Price to Sales(TTM) 3.01
Enterprise Value to Revenue 3.2
Enterprise Value to EBITDA 14.04
Shares Outstanding 134.68M
Shares Floating 133.71M
Shares Outstanding 134.68M
Shares Floating 133.71M
Percent Insiders 1.26
Percent Institutions 93.4

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Dover Corporation

Exchange NYSE
Headquarters Downers Grove, IL, United States
IPO Launch date 1985-07-01
President, CEO & Chairman of the Board Mr. Richard Joseph Tobin
Sector Industrials
Industry Specialty Industrial Machinery
Full time employees 24000
Full time employees 24000

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market. This segment offers software solutions and services used in light and heavy-duty vehicle lifts, wheel service equipment, vehicle diagnostics, and vehicle collision repair solutions; winches, hoists, bearings, drives, and electric monitoring system; and radio frequency and microwave filters and switches, and signal intelligence solutions, as well as soldering and fluid dispensing solutions. Its Clean Energy & Fueling segment offers component, equipment, and software and service solution enabling safe storage and transport of fuel, cryogenic gases, and hazardous fluids, as well as operation of retail fueling and vehicle wash establishment. The company's Imaging & Identification segment provides precision marking and coding, product traceability equipment, brand protection, and digital textile printing equipment and solution, as well as consumable, software, and service to packaged and consumer goods, pharmaceutical, industrial manufacturing, textile, and other end-market. Its Pumps & Process Solutions segment manufactures specialty pump, connector, flow meter, fluid connecting solution, plastics and polymer processing equipment, and engineered components for rotating and reciprocating machines. The company's 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. Dover Corporation was incorporated in 1947 and is headquartered in Downers Grove, Illinois.