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DOVER CorpDOV

Sector
Industrial
Industry
Construction, Mining & Materials Handling Machinery & Equip
Exchange
NYSE

Stock Price $DOV

Latest filings

You are here#49 of 57 in Industrials by market cap

Filing record · 2016–202610-K1210-Q328-K140

DOV filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 140 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · May ’18May ’18
  2. Leadership change8-K · Feb ’21Feb ’21
  3. Leadership change8-K · Mar ’23Mar ’23
  4. FY2024 annual report10-K · Feb ’25Feb ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $8.09B
YoY changeLargest recent move+18.3%in FY21Latest +4.5%

2 older moves run past ±20% (largest −29.4%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All DOV Financial Metrics61 metrics

Income Statement15

Balance Sheet26

Cash Flow15

Per Share5

02—Overview

DOVER Corp Financial Overview 2021–2025

Updated Aug 8, 2026

Dover Corporation’s deliberate portfolio optimization unlocked a massive $2.0 billiona windfall from the divestiture of its Environmental Solutions Group in FY2024, fundamentally transforming its balance sheet. The industrial conglomerate is successfully pivoting from raw top-line growth to margin and cash-flow maximization, utilizing its capital to fund targeted acquisitions while steadily returning cash to shareholders.

Consolidated revenue shifted from $7.9 billion in FY2021 to $8.1 billionb in FY2025, a modest trajectory that reflects strategic divestitures rather than operational stagnation. By shedding non-core businesses and executing strict pricing strategies, Dover expanded its gross profit margin from 37.6% in FY2021 to 39.8% by FY2025. The leaner company operates as a highly efficient cash engine, generating $1.1 billion in free cash flow—representing 13.8% of total revenue—during FY2025.

Proceeds from massive asset sales slashed Dover's net debt to net capitalization ratio from 37.3% in FY2023 to just 13.5% in FY2024. The company immediately deployed this unlocked liquidity into strategic bolt-on acquisitions and a $500 millionc accelerated share repurchase program late in FY2025. Rewarding this structural profitability and de-risked balance sheet, the market valued the enterprise at 24.6x earnings, with the stock closing at $195.24 per share at the end of FY2025.

Recent Developments (Q1 and Q2 2026)

Dover maintained revenue growth in the first half of 2026, highlighted by a 6.9% increase to $2.19 billiond in Q2 2026. First-half revenue reached $4.24 billion. Favorable pricing drove a 30 basis point expansion in the Q2 2026 gross margin to 40.2%. This yielded $312.5 million in earnings from continuing operations. Dover also secured a new $1.5 billion five-year revolving credit facility in April 2026 to bolster liquidity.

The bull case focuses on a 16.1% bookings increase in Q2 2026 following a 23.8% rise in Q1 2026, indicating sustained order volume. The bear case centers on rising restructuring costs, which hit $36.8 millione in Q1 2026 alongside margin pressures from unfavorable product mix combinations early in the year. Investors price the stock at 24.9x earnings as of July 23, 2026.

What to watch: impact of restructuring costs on operating margins; utilization of the $1.5 billion credit facility for strategic acquisitions.

03—Filings

Recent SEC Filings

  1. 8-KDOVER Corp 8-K Report, Financial Results (Jul 23, 2026)Dover reported second-quarter 2026 results that beat its prior-year period on every headline measure. Revenue rose 7% to $2.19 billion, with 5% organic growth. GAAP diluted EPS from continuing operations was $2.31, up 14%, and adjusted diluted EPS was $2.74, up 12%. Bookings grew about 16% to $2.33 billion, and bookings exceeded shipments, which management cites as improved visibility into the second half. Segment earnings margin expanded to 24.0% from 23.2%, and free cash flow rose about 24% to $188 million. Management raised full-year adjusted EPS guidance to $10.55 to $10.75, implying roughly 10% to 12% growth over 2025 adjusted EPS of $9.61. GAAP EPS guidance is $8.94 to $9.14, based on 6% to 8% revenue growth, including 4% to 6% organic. The filing does not state the prior guidance range, so the size of the raise cannot be measured from this document alone. The quality of the quarter is mixed. Clean Energy & Fueling (+8.6% organic) and Climate & Sustainability Technologies (+8.3% organic) drove growth, while Europe declined 5.0% organically in the quarter. Purchase accounting and restructuring charges remain a meaningful drag on GAAP results, and the gap between GAAP and adjusted EPS was about $0.43 in the quarter. Investors will likely focus on whether the strong order book converts into second-half margin and revenue gains and on the ongoing European weakness.
  2. 8-KDOVER Corp 8-K Report, Shareholder Vote Results (May 12, 2026)Dover Corporation (DOV) filed an 8-K on May 12, 2026, detailing the results of its Annual Meeting of Shareholders held on May 8, 2026. The meeting saw the election of nine directors, each receiving substantial 'For' votes, indicating shareholder confidence in the current board composition. Additionally, shareholders overwhelmingly ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2026. The advisory vote on executive compensation, often referred to as 'Say-on-Pay,' also received a majority of 'For' votes, suggesting general approval of the compensation packages for named executive officers.
  3. 8-KDOVER Corp 8-K Report, Financial Results (Apr 23, 2026)Dover Corporation (NYSE: DOV) reported first-quarter 2026 results that showed strong top-line momentum. Revenue rose 10% year over year to $2.05 billion, with organic growth of 5%, acquisitions contributing 1.9 points, and currency translation adding 2.9 points. GAAP earnings from continuing operations were flat at $239 million, and GAAP diluted EPS from continuing operations rose 2% to $1.76. The GAAP profit picture was held back by higher restructuring and other costs ($36.8 million versus $9.4 million a year ago) and higher purchase accounting expenses, which together offset the revenue gains. On a non-GAAP basis, performance was considerably stronger. Adjusted earnings from continuing operations increased 9% to $309 million, and adjusted diluted EPS rose 11% to $2.28. Total adjusted segment EBITDA grew to $495 million, a margin of 24.1% versus 24.0% a year earlier. Free cash flow was $131 million, up 20% from $109 million, and operating cash flow was $191 million. Bookings were $2.46 billion, up 24% year over year, with book-to-bill above one in all five segments according to management. Climate & Sustainability Technologies was the standout, with organic revenue up 15.2% and bookings up roughly 64%. Management reaffirmed its 2026 outlook, guiding to GAAP EPS of $8.92 to $9.12 and adjusted EPS of $10.45 to $10.65, on revenue growth of 5% to 7% (3% to 5% organic). Management said it remains committed to double-digit adjusted EPS growth at the midpoint of the range. Investors should note that the company's capital deployment remains active, with share repurchases continuing and an acquisition pipeline described as picking up.
  4. 8-KDOVER Corp 8-K Report, Material Agreement (Apr 8, 2026)Dover Corporation (DOV) has announced the establishment of a new $1.5 billion, five-year unsecured revolving credit facility, effective April 2, 2026. This facility replaces a previous $1 billion credit line that was set to mature. The new facility, also managed by JPMorgan Chase Bank, N.A. as Administrative Agent, provides enhanced liquidity for the Company's commercial paper program and general corporate purposes. The increased capacity and extended maturity signal a proactive approach to managing the company's financial flexibility and ensuring access to capital markets. The credit agreement includes a sub-limit of $250 million for letters of credit and offers flexibility in borrowing currencies, including USD, EUR, GBP, CAD, and SEK. Interest rates are benchmark-based with specified applicable margins that vary with Dover's credit rating, alongside a facility fee. The agreement also contains customary covenants and events of default, similar to its predecessor, including a minimum interest coverage ratio of 3.00:1.00, ensuring financial discipline.
  5. 8-KDOVER Corp 8-K Report, Financial Results (Jan 29, 2026)Dover Corporation (NYSE: DOV) reported fourth quarter 2025 results that showed broad top-line strength. Q4 revenue rose 9% to $2.10 billion (+5% organic), GAAP earnings from continuing operations increased 15% to $275 million, and GAAP diluted EPS from continuing operations rose 17% to $2.01. Adjusted diluted EPS from continuing operations was $2.51, up 14%. Management highlighted the strongest organic growth of the year, solid bookings (Q4 consolidated bookings of $2.14 billion, up about 10%), margin improvement from volume leverage and productivity, and restructuring savings expected to carry into 2026. Full-year 2025 GAAP results declined, with GAAP diluted EPS from continuing operations down 21% to $7.97, but this was driven by the prior-year gain on the De-Sta-Co disposition. On an adjusted basis, full-year EPS rose 16% to $9.61 and revenue grew 4% (+2% organic) to $8.09 billion. Free cash flow was $1.12 billion, up roughly 21%, and the company completed four acquisitions for $665 million while initiating a $500 million accelerated share repurchase program expected to finish in Q2 2026. Net debt to net capitalization rose to 18.2% from 13.5%. For 2026, Dover guided to GAAP diluted EPS of $8.95 to $9.15 and adjusted EPS of $10.45 to $10.65, based on revenue growth of 5% to 7% (3% to 5% organic). Management described demand as solid and broad-based, supported by the order book, though investors should note that the guidance implies the adjusted EPS growth rate is more modest than the 2025 result and that the cash balance declined as the company funded acquisitions and buybacks.
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04—See also

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