Dover (DOV) stock
Industrials · Industrial Machinery & Supplies & Components
Dover (DOV) is an Industrial Machinery & Supplies & Components company in the Industrials sector, headquartered in Downers Grove, Illinois. As of October 23, 2026, DOV closed at $199.20, a market capitalization of $26.83 billion, the 344th largest company in the S&P 500. Over the last twelve months it generated $8.58 billion in revenue (+8% year over year) and $1.17 billion in free cash flow. The stock trades at 23.2x trailing earnings and 16.9x forward earnings.
- 1-year total return: +11.0% (dividends reinvested)
- 5-year return: +4.6% a year
- 52-week range: $176.40 – $237.54
- Gross margin 40.2%, operating margin 19.7%
- Dividend yield: 1.05%, 43 straight years of increases
- FI Handbook report card: B- across 10 metrics
- 55th largest of 83 Industrials stocks in the S&P 500
DOV price chart
1Y price change: +9.9% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| DOV | +5.4% | +2.8% | +11.0% | +15.5% | +4.6% | +15.5% | +13.0% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1980.
DOV key statistics
- Market cap
- $26.8B
- #344 in S&P 500
- P/E (TTM)
- 23.2x
- Forward P/E
- 16.9x
- EPS (TTM)
- $8.57
- Revenue (TTM)
- $8.6B
- +8%
- Free cash flow
- $1.2B
- Gross margin
- 40.2%
- Operating margin
- 19.7%
- Return on equity
- 15.2%
- Dividend yield
- 1.05%
- 52-week range
- $176.40 – $237.54
- Beta
- 1.13
- Price / sales
- 3.1x
- EV / EBITDA
- 14.3x
- Debt / equity
- 0.43x
- Employees
- 24,000
DOV report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth7.5%C
- Gross margin40.2%B
- Operating margin19.7%C
- FCF margin13.7%C
- Return on equity15.2%B
- Net debt / EBITDA0.8xB
- Forward P/E16.9xB
- PEG ratio1.5xB
- Shareholder yield3.1%B
- Share count change / yr-1.1%B
Dover financials
Revenue went from $6.0B in fiscal 2016 to $8.1B in fiscal 2025, growing 3.3% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.0B | $6.8B | $7.0B | $7.1B | $6.7B | $7.9B | $7.8B | $7.7B | $7.7B | $8.1B |
| Gross profit | $2.2B | $2.5B | $2.6B | $2.6B | $2.5B | $3.0B | $2.9B | $2.9B | $3.0B | $3.2B |
| Operating income | $709.0M | $806.9M | $843.1M | $974.9M | $933.0M | $1.3B | $1.3B | $1.2B | $1.2B | $1.4B |
| Net income | $508.9M | $811.7M | $570.3M | $677.9M | $683.5M | $1.1B | $1.1B | $1.1B | $2.7B | $1.1B |
| EPS (diluted) | $3.25 | $5.15 | $3.75 | $4.61 | $4.70 | $7.74 | $7.42 | $7.52 | $19.45 | $7.94 |
| Free cash flow | — | — | — | $758.5M | $939.1M | $944.4M | $594.6M | $1.2B | — | — |
| Buybacks | $0 | $105.0M | $895.0M | $143.3M | $106.3M | $21.6M | $585.0M | $0 | $500.0M | $540.7M |
| Dividends paid | $267.7M | $284.0M | $283.6M | $282.2M | $284.3M | $286.9M | $287.6M | $284.3M | $283.1M | $283.0M |
| Diluted shares | 156.6M | 157.7M | 152.1M | 147.0M | 145.4M | 145.3M | 143.6M | 140.6M | 138.7M | 137.8M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into DOV?
A reverse DCF asks what growth the current price requires. With an enterprise value of $28.4B and $1.2B of trailing free cash flow, Dover needs to grow free cash flow about 15.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 11.0% a year over the last five years.
P/E ratio history
Current 25.1x vs. median 16.9x (10th–90th percentile 11.2x–27.6x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
DOV dividend
- Dividend yield
- 1.05%
- Annual dividend
- $2.10
- Years of increases
- 43
- 5-yr dividend growth
- 1.0%
- per year
- Payout ratio
- 24%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
DOV earnings
Next report: January 28, 2027. Dover has beaten EPS estimates 8 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 22, 2026 | $2.85 | $2.88 | +1.2% |
| Jul 23, 2026 | $2.72 | $2.74 | +0.8% |
| Apr 23, 2026 | $2.27 | $2.28 | +0.4% |
| Jan 29, 2026 | $2.49 | $2.51 | +1.0% |
| Oct 23, 2025 | $2.51 | $2.62 | +4.5% |
| Jul 24, 2025 | $2.39 | $2.44 | +2.1% |
| Apr 24, 2025 | $1.98 | $2.05 | +3.5% |
| Jan 30, 2025 | $2.08 | $2.20 | +5.9% |
Stocks like DOV
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 PH Parker-Hannifin | -1.42% | +16% | $111.1B | 30.9x | Compare |
 ITW Illinois Tool Works | -1.25% | +10% | $78.5B | 25.0x | Compare |
 GWW W.W. Grainger | -0.75% | +41% | $63.6B | 34.4x | Compare |
 OTIS Otis Worldwide | -0.60% | -17% | $28.6B | 19.3x | Compare |
 IR Ingersoll Rand | -0.85% | -8% | $28.5B | 30.2x | Compare |
 XYL Xylem | -0.48% | -25% | $25.4B | 25.9x | Compare |
 HUBB Hubbell | +0.52% | +5% | $23.7B | 26.5x | Compare |
 SNA Snap-On | +0.16% | +6% | $18.5B | 18.5x | Compare |
DOV news
- Dover (DOV) Stock May Be 19% Undervalued As AI Led Growth Builds · Oct 23, 2026
- Dover (DOV) Stock Slips As Q3 Earnings Meet Execution Doubts · Oct 23, 2026
- DOV Q3 deep dive: secular markets and capacity investments drive growth amid cautious outlook · Oct 23, 2026
- Dover Corporation Q3 2026 Earnings Call Summary · Oct 22, 2026
- Dover Q3 Earnings Call Highlights · Oct 22, 2026
DOV stock FAQ
What is DOV's market cap?
Dover's market capitalization is $26.83 billion as of October 23, 2026, ranking 344th in the S&P 500.
What is DOV's P/E ratio?
DOV trades at a trailing price-to-earnings ratio of 23.2x and a forward P/E of 16.9x. Its median P/E over the period we track is 16.9x.
Does DOV pay a dividend?
Yes. Dover pays $2.10 per share a year, a 1.05% yield. It has raised its dividend 43 years in a row. Dividends grew 1.0% a year over the last five years.
How much has DOV stock returned?
Including reinvested dividends, DOV returned +11.0% over one year, +4.6% a year over five years, +15.5% a year over ten years through October 23, 2026.
Is DOV stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Dover must grow free cash flow about 15% a year for the next decade. Its free cash flow grew 11% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does DOV report earnings?
Dover is expected to report earnings on January 28, 2027. It has beaten EPS estimates 8 quarters in a row.
How many employees does Dover have?
Dover has about 24,000 full-time employees, or $357,357 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology