Dover Corporation (DOV)
Total asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 8,306,830 | 8,343,940 | 8,351,560 | 8,417,010 | 8,391,630 | 8,247,240 | 8,110,580 | 7,983,870 | 7,805,410 | 7,618,220 | 7,346,360 | 6,811,020 | 6,601,570 | 6,596,770 | 6,702,130 | 7,043,160 | 7,136,400 | 7,169,760 | 7,091,820 | 7,079,200 |
| Total assets | US$ in thousands | 11,348,500 | 10,772,100 | 10,901,600 | 10,804,600 | 10,896,500 | 10,652,300 | 10,807,400 | 10,501,000 | 10,403,600 | 9,902,980 | 9,630,000 | 9,270,890 | 9,152,070 | 8,985,970 | 9,114,130 | 8,944,250 | 8,669,480 | 8,669,300 | 8,776,050 | 8,657,910 |
| Total asset turnover | 0.73 | 0.77 | 0.77 | 0.78 | 0.77 | 0.77 | 0.75 | 0.76 | 0.75 | 0.77 | 0.76 | 0.73 | 0.72 | 0.73 | 0.74 | 0.79 | 0.82 | 0.83 | 0.81 | 0.82 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $8,306,830K ÷ $11,348,500K
= 0.73
The total asset turnover for Dover Corp. has shown relatively consistent performance over the past eight quarters, ranging from 0.74 to 0.79. This ratio indicates that for every dollar of assets Dover Corp. possesses, it generates between $0.74 and $0.79 in revenue.
Overall, the company's ability to efficiently utilize its assets to generate revenue appears stable. However, there is minor fluctuation quarter to quarter, which may indicate changes in the company's operating efficiency or asset management strategies. It would be beneficial to further investigate the underlying reasons for these variations to assess the effectiveness of Dover Corp.'s asset utilization over time.
Peer comparison
Dec 31, 2023