Dover Corporation (DOV)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,745,910 | 8,438,130 | 8,508,090 | 7,907,080 | 6,683,760 |
| Total assets | US$ in thousands | 12,509,200 | 11,348,500 | 10,896,500 | 10,403,600 | 9,152,070 |
| Total asset turnover | 0.62 | 0.74 | 0.78 | 0.76 | 0.73 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $7,745,910K ÷ $12,509,200K
= 0.62
Dover Corporation's total asset turnover has shown a fluctuating trend over the past five years. The ratio increased from 0.73 in December 31, 2020, to 0.78 in December 31, 2022, indicating an improvement in the company's ability to generate sales from its total assets. However, there was a slight decline in total asset turnover to 0.74 in December 31, 2023. The most significant drop occurred in December 31, 2024, where the ratio fell to 0.62, potentially signaling challenges in efficiently utilizing the company's assets to generate revenue. Overall, while there have been periods of improvement, the declining trend in total asset turnover in recent years could signify a need for Dover Corporation to assess and optimize its asset utilization strategies.
Peer comparison
Dec 31, 2024