Dover Corp. (DOV) intrinsic value & 10-year financials
Dover Corp. (DOV) has a Graham intrinsic value of $167.83 per share. At $195.80 on Oct 17, 2026, the stock trades 17% above that value. Over the last 10 fiscal years revenue grew 3.3% a year to $8.1B, with an average return on invested capital of 12.9%.
- Graham intrinsic value
- $167.83
- Share price (Oct 17, 2026)
- $195.80
- Price vs Graham value
- 17% above
- Market cap
- $27.0B
- Revenue (FY2025)
- $8.1B
- Revenue growth (10-yr CAGR)
- 3.3%
- ROIC (10-yr avg)
- 12.9%
- Free cash flow (FY2025)
- $1.1B
DOV 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $8.1B | $1.1B | $7.94 | $1.1B | 17.0% | 12.5% |
| FY2024 | $7.7B | $2.7B | $19.45 | $920.3M | 15.6% | 13.2% |
| FY2023 | $8.4B | $1.1B | $7.52 | $1.1B | 16.2% | 14.5% |
| FY2022 | $8.5B | $1.1B | $7.42 | $584.8M | 16.2% | 15.5% |
| FY2021 | $7.9B | $1.1B | $7.74 | $944.4M | 16.2% | 15.7% |
| FY2020 | $6.7B | $683.5M | $4.70 | $939.1M | 14.0% | 12.8% |
| FY2019 | $7.1B | $677.9M | $4.61 | $758.5M | 13.7% | 14.2% |
| FY2018 | $7.0B | $570.3M | $3.75 | $618.2M | 12.1% | 11.1% |
| FY2017 | $6.8B | $811.7M | $5.15 | $624.8M | 13.4% | 11.2% |
| FY2016 | $6.0B | $508.9M | $3.25 | $696.8M | 11.8% | 7.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Dover Corporation has demonstrated mature, steady growth, with revenue compounding at 3.3% annually over the past decade.
Dover Corporation returns on capital have been average, hovering around 12.9% ROIC over the decade.
Over the decade, Dover Corporation shows that management has aggressively returned capital to shareholders by retiring 12.0% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Dover Corporation is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $167.83 per share.