NYSE · DOV

Dover Corporation

Industrials · Industrial - Machinery

$187.37▼ 2.12% ($4.05)at close

As of 4:00 PM ET

52-week

$158.97$237.54

Market cap

$25.23B

P/E

What the market price implies · Reverse DCF

To support a price of $187.37, this model requires Stage 1 FCFF to grow by 13.87%/yr over the next 5 years, compounded annually.

Historical FCFF grew by 2.65%/yr over the past 10 years. The required annual growth rate is 11.22 percentage points higher.

Selected forecast · Base scenario

2.65%/yr · Stage 1 default · years 1–5

Annual overrides take precedence over the Stage 1 default.

Market-implied · Other assumptions held fixed

13.87%/yr · Stage 1 · years 1–5

Stage 1 growth is solved while Stage 2 growth, terminal growth, discount inputs, and annual overrides remain fixed. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Cash-flow DCF

Price used

$187.37

Estimated value / share

$113.88

Base scenario

This estimate is 39.22% below the price used.

USD · TTM ending 2026-06-30

FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.

Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.

Stage 1 2.65% · Stage 2 3.5% · Discount rate 10.28%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future free cash flow, discounted to its value today.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 11, 2026, 1:10 AM UTC · provider

Why this method?

FCFF is positive, but the year-to-year swings are too large for a direct CAGR. Normalize the cash-flow base first, then run DCF.

Is FCFF positive and has it been for 3+ consecutive years? 26 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 112.0%.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 6.68%Revenue (TTM): 7.56%FCF (TTM): 110.8%P/FCF: 43rd pct

What changed

The stock rose 6.68% over the last year. Revenue grew 7.56% over the trailing twelve months. Operating margin moved from 16.34% to 16.87%. Free cash flow grew 110.8% over the trailing twelve months.

What the market seems to be pricing

The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at 16.87%. A decisive move in revenue — currently up 7.56% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

Dover Corporation operates as a global enterprise, supplying a wide array of industrial equipment, essential components, consumable products, replacement parts, software and digital platforms, and comprehensive support services.

CEORichard Joseph Tobin

SectorIndustrials

IndustryIndustrial - Machinery

Employees24,000

IPO dateMar 17, 1980

https://www.dovercorporation.com

Market multiples

Forward P/E—

EV/EBITDA15.51

Enterprise value$28.9B

Stock splits

May 9, 2018↑ Forward

Every 500 shares became 619

+24%

Mar 3, 2014↑ Forward

Every 200 shares became 241

+21%

Dec 16, 1997↑ Forward

Every 1 shares became 2

+100%

Sep 18, 1995↑ Forward

Every 1 shares became 2

+100%

Sep 26, 1988↑ Forward

Every 1 shares became 2

+100%

Sep 28, 1981↑ Forward

Every 1 shares became 2

+100%

Oct 29, 1979↑ Forward

Every 1 shares became 2

+100%

Sep 23, 1976↑ Forward

Every 1 shares became 2

+100%

Profitability & growth

Revenue growth6.85%

Gross margin39.58%▲1.6ppvs FY2024

Operating margin16.87%▲1.4ppvs FY2024

ROE14.98%▼0.3ppvs FY2025

Analyst consensus

RatingBuy

Target price$244.78▲30.64%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 22, 2026

Q4 FY26 · EPS est $2.86 · Revenue est $2.21B

View

Dividends

$2.09/shareQuarterlyDividend Aristocrat · 43yrSafe

DOV pays a dividend with a 1.11% dividend yield, 43 consecutive years of growth, growing at 0.99% annually, covered 3.9× by free cash flow.

Dividend Yield

1.11%

Annual Div / Share

$2.09

5yr CAGR

+0.99%

Doubles every ~70.5yr

Payout Ratio

24.8%

Safe

Dividend Growth Rate

3yr CAGR

+0.98%

5yr CAGR

+0.99%

10yr CAGR

+4.26%

Dividend Safety

10/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$2.08+1.0%

2025$2.06+1.0%

2024$2.04+1.0%

2023$2.02+1.0%

2022$2.00+1.0%

2021$1.99+1.0%

2020$1.97+1.8%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$11/yr

$1/mo

In 5 yrs

$12/yr+5%

$1/mo

In 10 yrs

$12/yr+10%

$1/mo

Today	In 5 yrs	In 10 yrs
$11/yr $1/mo	$12/yr+5% $1/mo	$12/yr+10% $1/mo

Yield-on-cost grows from 1.11% → 1.23% over 10yr

Analysis

Dividend Strengths

Dividend Aristocrat

DOV has raised its dividend for 43 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.

Well-covered by free cash flow

The dividend is covered 3.9× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Risks to Watch

No strong risk signal stands out from the latest period pair.

NYSE · DOV

Dover Corporation

Industrials · Industrial - Machinery

$187.37▼ 2.12% ($4.05)at close

As of 4:00 PM ET

52-week

$158.97$237.54

Market cap

$25.23B

P/E

What the market price implies · Reverse DCF

To support a price of $187.37, this model requires Stage 1 FCFF to grow by 13.87%/yr over the next 5 years, compounded annually.

Historical FCFF grew by 2.65%/yr over the past 10 years. The required annual growth rate is 11.22 percentage points higher.

Selected forecast · Base scenario

2.65%/yr · Stage 1 default · years 1–5

Annual overrides take precedence over the Stage 1 default.

Market-implied · Other assumptions held fixed

13.87%/yr · Stage 1 · years 1–5

Stage 1 growth is solved while Stage 2 growth, terminal growth, discount inputs, and annual overrides remain fixed. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Cash-flow DCF

Price used

$187.37

Estimated value / share

$113.88

Base scenario

This estimate is 39.22% below the price used.

USD · TTM ending 2026-06-30

FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.

Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.

Stage 1 2.65% · Stage 2 3.5% · Discount rate 10.28%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future free cash flow, discounted to its value today.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 11, 2026, 1:10 AM UTC · provider

Why this method?

FCFF is positive, but the year-to-year swings are too large for a direct CAGR. Normalize the cash-flow base first, then run DCF.

Is FCFF positive and has it been for 3+ consecutive years? 26 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 112.0%.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 6.68%Revenue (TTM): 7.56%FCF (TTM): 110.8%P/FCF: 43rd pct

What changed

The stock rose 6.68% over the last year. Revenue grew 7.56% over the trailing twelve months. Operating margin moved from 16.34% to 16.87%. Free cash flow grew 110.8% over the trailing twelve months.

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at 16.87%. A decisive move in revenue — currently up 7.56% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

CEORichard Joseph Tobin

SectorIndustrials

IndustryIndustrial - Machinery

Employees24,000

IPO dateMar 17, 1980

https://www.dovercorporation.com

Market multiples

Forward P/E—

EV/EBITDA15.51

Enterprise value$28.9B

Stock splits

May 9, 2018↑ Forward

Every 500 shares became 619

+24%

Mar 3, 2014↑ Forward

Every 200 shares became 241

+21%

Dec 16, 1997↑ Forward

Every 1 shares became 2

+100%

Sep 18, 1995↑ Forward

Every 1 shares became 2

+100%

Sep 26, 1988↑ Forward

Every 1 shares became 2

+100%

Sep 28, 1981↑ Forward

Every 1 shares became 2

+100%

Oct 29, 1979↑ Forward

Every 1 shares became 2

+100%

Sep 23, 1976↑ Forward

Every 1 shares became 2

+100%

Profitability & growth

Revenue growth6.85%

Gross margin39.58%▲1.6ppvs FY2024

Operating margin16.87%▲1.4ppvs FY2024

ROE14.98%▼0.3ppvs FY2025

Analyst consensus

RatingBuy

Target price$244.78▲30.64%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 22, 2026

Q4 FY26 · EPS est $2.86 · Revenue est $2.21B

View

Dividends

$2.09/shareQuarterlyDividend Aristocrat · 43yrSafe

DOV pays a dividend with a 1.11% dividend yield, 43 consecutive years of growth, growing at 0.99% annually, covered 3.9× by free cash flow.

Dividend Yield

1.11%

Annual Div / Share

$2.09

5yr CAGR

+0.99%

Doubles every ~70.5yr

Payout Ratio

24.8%

Safe

Dividend Growth Rate

3yr CAGR

+0.98%

5yr CAGR

+0.99%

10yr CAGR

+4.26%

Dividend Safety

10/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$2.08+1.0%

2025$2.06+1.0%

2024$2.04+1.0%

2023$2.02+1.0%

2022$2.00+1.0%

2021$1.99+1.0%

2020$1.97+1.8%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$11/yr

$1/mo

In 5 yrs

$12/yr+5%

$1/mo

In 10 yrs

$12/yr+10%

$1/mo

Today	In 5 yrs	In 10 yrs
$11/yr $1/mo	$12/yr+5% $1/mo	$12/yr+10% $1/mo

Yield-on-cost grows from 1.11% → 1.23% over 10yr

Analysis

Dividend Strengths

Dividend Aristocrat

DOV has raised its dividend for 43 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.

Well-covered by free cash flow

The dividend is covered 3.9× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Risks to Watch

No strong risk signal stands out from the latest period pair.