DOV
Dover Corporation
DOV's fundamentals are mixed, but it looks expensive: trading at 24x earnings, above its usual 20x. Analysts expect earnings growth.
DOV Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Healthy |
DOV's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
DOV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 16x | $134 | -36% |
| Forward | 18x | $209 | — |
| Fair | 20x | $169 | -19% |
| Current | 24x | $209 | — |
| Expensive | 27x | $229 | +9.1% |
Historical ranges are pointers, not guarantees.
DOV's PE is in its expensive range at 24x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its fair range.
DOV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for DOV, with profitability improving.
DOV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $11.59 | +35% |
| Q3 2026 | $8.58 | -47% |
| Q2 2026 | $8.30 | -50% |
| Q1 2026 | $8.02 | -52% |
| Q4 2025 | $7.94 | -59% |
| Q3 2025 | $16.26 | +45% |
| Q2 2025 | $16.58 | +55% |
| Q1 2025 | $16.60 | +59% |
| Q4 2024 | $19.45 | +159% |
DOV's earnings per share have fallen from their peak: $8.58 over the past year, against $19.45 in late 2024.
DOV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.2B | +7.5% |
| Q2 2026 | $2.2B | +6.9% |
| Q1 2026 | $2.1B | +10% |
| Q4 2025 | $2.1B | +8.8% |
| Q3 2025 | $2.1B | +4.8% |
| Q2 2025 | $2B | -5.9% |
| Q1 2025 | $1.9B | -11% |
| Q4 2024 | $1.9B | -8.4% |
DOV's revenue has grown year over year for five quarters in a row: $2.2B last quarter, up 7.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +0.6 points |
| Q2 2026 | 18% | +0.6 points |
| Q1 2026 | 15% | -1 points |
| Q4 2025 | 16% | +1.2 points |
| Q3 2025 | 18% | +1.3 points |
| Q2 2025 | 17% | +0.3 points |
| Q1 2025 | 16% | +1.8 points |
| Q4 2024 | 15% | -1.5 points |
DOV's operating margin was 19% last quarter, up 0.6 points from the same quarter a year ago, near the top of its range since 2019.
DOV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $383.3M | +3.6% |
| Q2 2026 | $188.4M | +24% |
| Q1 2026 | $131.2M | +20% |
| Q4 2025 | $487M | +26% |
| Q3 2025 | $370.1M | +48% |
| Q2 2025 | $151.4M | -7% |
| Q1 2025 | $109.3M | -11% |
| Q4 2024 | $385M | -15% |
DOV generated $1.2B in free cash flow over the past year, up 17% from the year before.
DOV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -675K shares |
| 1 year | -2.3% | -3.2M shares |
| 3 years | -4.1% | -5.7M shares |
| 5 years | -7.3% | -10.6M shares |
| Available history | -8.2% | -12.1M shares |
DOV has 135M diluted shares, down 2.3% from a year ago, with $886M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $331.6M |
| Q2 2026 | — |
| Q1 2026 | $53.9M |
| Q4 2025 | $500M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $40.7M |
| Q4 2024 | — |
DOV spent $886M buying back its own shares over the past year, more than ten times what it spent the year before.
DOV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.2x | Healthy |
| Q1 2026 | 1.3x | Healthy |
| Q4 2025 | 1.4x | Healthy |
| Q3 2025 | 1.1x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.0x | Very low |
| Q4 2024 | 0.9x | Very low |
DOV's net debt is about 1.2 years of its operating earnings (EBITDA), about the same as a year ago.
DOV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.6 | Neutral |
| Stochastic | 70.7 | Neutral |
DOV's weekly RSI is 56 (neutral) and its Stochastic is 71 (neutral).
DOV PE vs Industrials Sector
| Metric | DOV | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.6% above |
| PE % | 70 | 58 | 12 pts above |
DOV is trading at 24x earnings, in line with the Industrials sector's median of 24x.
DOV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $198.3 | 5.6% above |
| 20 week MA | $201.2 | 4.1% above |
| 50 week MA | $207.8 | 0.8% above |
| 100 week MA | $194.3 | 7.8% above |
| 200 week MA | $178.0 | 18% above |
DOV is in an uptrend: it's above all five of its weekly moving averages, and 18% above its 200-week average.
DOV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $115.5 | $124.0 | +7.4% |
| 2021 | $124.0 | $173.7 | +40% |
| 2022 | $173.7 | $134.7 | -22% |
| 2023 | $134.7 | $153.8 | +14% |
| 2024 | $153.8 | $188.3 | +22% |
| 2025 | $188.3 | $200.2 | +6.3% |
| 2026 YTD | $200.2 | $209.5 | +4.7% |
DOV has finished higher in five of the last six years. It's up 4.7% so far in 2026.