DOVER Corp

Listed Company

DOVCIK 0000029905NYSELarge AcceleratedConstruction, Mining & Materials Handling Machinery & EquipNew YorkFY ends Dec 31

Period

FY 2025

Revenue

$8.09B

Net Income

$1.09B

Total Assets

$13.42B

Equity

$7.41B

Shares Out

134.66M

Op. Cash Flow

$1.34B

Business

DOVER Corp is a diversified global manufacturer and solutions provider delivering engineered equipment, components, consumables, software and services to industrial and business-to-business end markets. It offers equipment and components, consumable supplies, aftermarket parts, digital and software solutions, and support services across product categories such as pumps, marking and coding, refrigeration, fueling systems, and precision components. The company operates through five reportable segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. Dover sells its products and services worldwide. Its distribution channels include direct sales, distributors and original equipment manufacturer partnerships.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	8,093	7,746	7,684	7,844	7,907
Cost of goods and services	4,874	4,787	4,817	4,939	4,937
Gross profit	3,218	2,959	2,868	2,905	2,970
Selling, general and administrative expenses	1,845	1,752	1,648	1,625	1,688
Operating earnings	1,373	1,206	1,219	1,280	1,282
Interest expense	110	131	131	116	—
Interest income	−73	−37	−13	−4	−4
Gain on dispositions	−5	−598	0	0	−206
Other income, net	−33	−47	−21	−23	−15
Earnings before provision for income taxes	1,374	1,757	1,123	1,190	1,401
Provision for income taxes	277	357	179	200	277
Earnings from continuing operations	1,097	1,400	944	990	—
(Loss) earnings from discontinued operations, net	−3	1,297	113	75	—
Net earnings	1,094	2,697	1,057	1,065	1,124
Earnings from continuing operations (in dollars per share)	8.01	10.16	6.75	6.94	—
Earnings from continuing operations (in dollars per share)	7.97	10.09	6.71	6.89	—
Earnings from discontinued operations, net (in dollars per share)	−0.03	9.42	0.81	0.53	—
Earnings from discontinued operations, net (in dollars per share)	−0.03	9.35	0.8	0.53	—
Basic (in dollars per share)	7.99	19.58	7.56	7.47	7.81
Diluted (in dollars per share)	7.94	19.45	7.52	7.42	7.74
Basic (in shares)	137	138	140	143	144
Diluted (in shares)	138	139	141	144	145

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,677	1,845	399	381	386
Receivables, net	1,371	1,354	1,321	1,517	1,348
Inventories, net	1,273	1,145	1,144	1,367	1,191
Prepaid and other current assets	186	141	139	159	138
Total current assets	4,507	4,484	3,390	3,423	3,062
Property, plant and equipment, net	1,120	988	978	1,005	957
Goodwill	5,430	4,906	4,638	4,425	4,559
Intangible assets, net	1,760	1,581	1,445	1,334	1,360
Other assets and deferred charges	606	550	555	465	466
Total assets	13,422	12,509	11,349	10,897	10,404
Short-term borrowings and current portion of long-term debt	707	400	468	736	—
Accounts payable	876	848	854	1,068	1,074
Accrued compensation and employee benefits	281	292	259	270	303
Deferred revenue	155	199	195	257	228
Accrued insurance	88	88	86	93	101
Other accrued expenses	352	335	297	318	347
Federal and other income taxes	61	34	37	31	92
Total current liabilities	2,518	2,197	2,414	2,773	2,250
Long-term debt	2,621	2,529	2,992	2,943	3,019
Deferred income taxes	394	352	346	375	364
Non-current income tax payable	0	6	28	44	48
Other liabilities	483	471	427	475	533
Preferred stock - $100 par value; 100,000 shares authorized; none issued	0	0	0	0	0
Common stock - $1 par value; 500,000,000 shares authorized; 260,194,888 and 260,031,000 shares issued at December 31, 2025 and 2024	260	260	260	260	259
Additional paid-in capital	851	893	887	868	858
Retained earnings	14,221	13,410	10,996	10,223	9,445
Accumulated other comprehensive loss	−175	−328	−238	−266	−154
Treasury stock, at cost: 125,348,563 and 122,814,553 shares at December 31, 2025 and 2024	−7,751	−7,281	−6,798	−6,798	—
Total stockholders' equity	7,405	6,954	5,107	4,286	4,190
Total liabilities and stockholders' equity	13,422	12,509	11,349	10,897	10,404

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	380	338	305	296	290
Stock-based compensation expense	44	40	31	30	31
Provision for losses on accounts receivable (net of recoveries)	9	5	3	5	5
Deferred income taxes	−29	−90	−99	−28	−48
Employee benefit plan (benefit) expense	−8	−10	6	3	12
Other, net	−15	27	2	−18	−7
Accounts receivable	49	−44	100	−185	−202
Inventories	−37	4	142	−191	−298
Prepaid expenses and other assets	−13	−27	11	−5	−14
Accounts payable	−16	9	−114	17	229
Accrued compensation and employee benefits	−25	39	1	−36	65
Accrued expenses and other liabilities	−66	29	−78	−56	61
Accrued taxes	−12	−23	−17	−62	88
Contributions to employee benefit plans	−16	−13	−16	−13	−14
Net cash provided by operating activities	1,338	1,088	1,220	747	—
Additions to property, plant and equipment	−220	−168	−183	−211	−171
Acquisitions, net of cash and cash equivalents acquired	−663	−635	−534	−313	−1,112
Proceeds from dispositions, net of cash transferred	6	769	0	0	275
Other, net	−9	7	−686,000	3	9
Net cash used in investing activities	−887	−27	−718	−521	—
Change in commercial paper and other short-term borrowings, net	−639,000	−468	−267	630	105
Proceeds from long-term debt	631	0	0	—	0
Repayment of long-term debt	−400	0	0	—	0
Dividends paid to stockholders	−283	−283	−284	−288	−287
Repurchase of common stock, including payment under accelerated share repurchase program	−541	−500	0	−585	−22
Payments to settle employee tax obligations on exercise of share-based awards	−15	−17	−12	−15	−42
Other, net	−17	−4	−4	−3	−4
Net cash used in financing activities	−625	−1,272	−568	−260	−250
Net cash (used in) provided by operating activities of discontinued operations	−4	−339	117	59	—
Net cash (used in) provided by investing activities of discontinued operations	−10	1,986	−9	−20	—
Net cash (used in) provided by discontinued operations	−14	1,646	108	39	—
Effect of exchange rate changes on cash and cash equivalents	20	−6	−7	−9	−803,000
Net (decrease) increase in cash and cash equivalents, including cash held for sale	−168	1,429	35	−5	−128
Income taxes	307	908	332	354	234
Interest	104	126	127	112	102

Filings

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