Dover Corporation
Find Ratings ReportsDOVER CORP's gross profit margin for the fourth quarter of its fiscal year 2023 has increased when compared to the same period a year ago. Even though sales decreased, the net income has increased, representing an increase to the bottom line. DOVER CORP has weak liquidity. Currently, the Quick Ratio is 0.77 which shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.
During the same period, stockholders' equity ("net worth") has increased by 19.13% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.
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Income Statement | Q4 FY23 | Q4 FY22 |
---|---|---|
Net Sales ($mil) | 2105.76 | 2139.18 |
EBITDA ($mil) | 451.57 | 440.15 |
EBIT ($mil) | 371.11 | 363.42 |
Net Income ($mil) | 296.26 | 263.58 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 398.56 | 380.87 |
Total Assets ($mil) | 11348.51 | 10896.52 |
Total Debt ($mil) | 3690.78 | 3895.42 |
Equity ($mil) | 5106.61 | 4286.37 |
Profitability | Q4 FY23 | Q4 FY22 |
---|---|---|
Gross Profit Margin | 41.56 | 39.58 |
EBITDA Margin | 21.44 | 20.57 |
Operating Margin | 17.62 | 16.99 |
Sales Turnover | 0.74 | 0.78 |
Return on Assets | 9.31 | 9.77 |
Return on Equity | 20.7 | 24.86 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 1.4 | 1.23 |
Debt/Capital | 0.42 | 0.48 |
Interest Expense | 30.9 | 33.13 |
Interest Coverage | 12.01 | 10.97 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 139.9 | 139.7 |
Div / share | 0.51 | 0.51 |
EPS | 2.11 | 1.87 |
Book value / share | 36.5 | 30.68 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 900278.0 | 833393.0 |
BUY. The current P/E ratio indicates a significant discount compared to an average of 34.89 for the Machinery Manufacturing subsector and a discount compared to the S&P 500 average of 27.95. To use another comparison, its price-to-book ratio of 4.80 indicates valuation on par with the S&P 500 average of 4.68 and a significant discount versus the subsector average of 15.81. The price-to-sales ratio is above the S&P 500 average, but well below the subsector average. Upon assessment of these and other key valuation criteria, DOVER CORP proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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DOV 23.28 | Peers 34.89 | DOV 18.33 | Peers 35.56 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. DOV is trading at a significant discount to its peers. |
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. DOV is trading at a significant discount to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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DOV 17.70 | Peers 25.65 | DOV 1.14 | Peers 5.15 | |||||||||||||||||||||
Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations. DOV is trading at a discount to its peers. |
Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. DOV trades at a significant discount to its peers. |
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Price/Book |
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Earnings Growth |
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DOV 4.80 | Peers 15.81 | DOV 1.21 | Peers 20.44 | |||||||||||||||||||||
Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. DOV is trading at a significant discount to its peers. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, DOV is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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DOV 2.90 | Peers 8.34 | DOV -0.83 | Peers 14.92 | |||||||||||||||||||||
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. DOV is trading at a significant discount to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. DOV significantly trails its peers on the basis of sales growth. |
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