DOV
Dover Corporation

Dover CorporationDOV

Industrials · Specialty Industrial Machinery
203.85USD
+0.64%
Nov 08, 2026
DOV overview ready
Supplier of liquid-cooling and fluid-management components for AI data centers
Diversified industrial component supplier to the liquid-cooling and fluid-management layer of high-density AI data centers, alongside much larger non-data-center industrial, climate, fueling, imaging, and aftermarket businesses.
Primary theme is improving
Diversified Industrials is improving (+8.5pp vs SPY over 21 sessions; 16 of 24 members ahead of SPY).
Constructive pullback in an uptrend
Longer-term context reads established trend, with a near-term setup of failed reclaim.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Exposure to industrial and capital spending cyclicality.
Market Nov 6Filing Sep 30Price action Nov 7Research Oct 13

Conviction Level

PriceAction8.9BusinessPerformance5.0BusinessQuality7.7Valuation6.0ThemeMomentum7.0Stable — Revenue is growing at a steady pace (+7.5% year over year). Diluted EPS is up 13% year over year at $2.47. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
+8.5pp
Theme return
+3.5%
Beating SPY
16 of 24
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Constructive pullback in an uptrend
Longer-term context reads established trend, with a near-term setup of failed reclaim.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$27.1B
Avg Volume (60D)
1.3M
60 sessions
Revenue Growth YoY
+4.5%
FY2025 vs FY2024
Gross Margin
+39.7%
Trailing twelve months
Operating Margin
+17.0%
Trailing twelve months
Free Cash Flow Yield
+4.4%
Distance from 200DMA
-2.5%
Next Earnings
2027-01-28
P/E
23.3x
EV / EBITDA
15.5x
EV / Sales
3.3x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Stable

Revenue is growing at a steady pace (+7.5% year over year). Diluted EPS is up 13% year over year at $2.47.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthGrowing
+7.5%
$2.23B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +8.8%
  2. +10%
  3. +6.9%
  4. +7.5%
Earnings growthGrowing
+13%
Diluted EPS $2.47 vs $2.19 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. n/a
  2. +4.8%
  3. +14%
  4. +13%
Operating marginStable
18.8%
+0.6 pp YoY · gross margin 40.4% (+0.3 pp)

Business Quality

7.7 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

All three valuation perspectives agree this company is fair.
Dover Corporation has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Diversified industrial component supplier to the liquid-cooling and fluid-management layer of high-density AI data centers, alongside much larger non-data-center industrial, climate, fueling, imaging, and aftermarket businesses.
Opportunity
Moderate opportunity
Hyperscaler and colocation capital spending on high-density AI data-center electrical and liquid-cooling infrastructure.
Key risk
Exposure to industrial and capital spending cyclicality.

Economic classification

Loading the economic classification…

Business & Markets

Industrials · Specialty Industrial Machinery
What they do

Dover Corporation designs, manufactures, and sells industrial equipment, components, software, and services globally across multiple end markets including vehicle aftermarket, aerospace, defense, and fluid management.

How it earns

Primarily transactional revenue from equipment sales, consumables, aftermarket parts, and related services.

Products & services
Vehicle lifts and diagnostics software
Industrial winches and hoists
Fluid dispensing systems
Aftermarket parts and consumables
Customers & end markets
Vehicle aftermarket service providers
Aerospace and defense companies
Industrial equipment users
Data center operators
Market position

Established diversified industrial supplier with a broad product portfolio serving multiple niche markets.

Demand drivers
Medium cyclicality

Demand is influenced by industrial capital expenditures and aftermarket service cycles, which can fluctuate with economic conditions.