Dover Corporation (DOV)
Total asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 8,185,610 | 8,361,500 | 8,531,230 | 8,453,060 | 8,438,140 | 8,471,560 | 8,476,580 | 8,535,210 | 8,508,090 | 8,358,150 | 8,218,130 | 8,091,090 | 7,907,090 | 7,698,240 | 7,428,230 | 6,895,730 | 6,683,770 | 6,678,970 | 6,756,050 | 7,067,580 |
| Total assets | US$ in thousands | 12,509,200 | 11,913,000 | 11,291,800 | 11,987,000 | 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 |
| Total asset turnover | 0.65 | 0.70 | 0.76 | 0.71 | 0.74 | 0.79 | 0.78 | 0.79 | 0.78 | 0.78 | 0.76 | 0.77 | 0.76 | 0.78 | 0.77 | 0.74 | 0.73 | 0.74 | 0.74 | 0.79 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $8,185,610K ÷ $12,509,200K
= 0.65
The total asset turnover ratio of Dover Corporation has shown some variability over the observation period from March 31, 2020, to December 31, 2024. The ratio ranged from 0.65 to 0.79 during this timeframe.
A total asset turnover ratio of less than 1 typically indicates that the company is not efficiently utilizing its assets to generate sales. In the case of Dover Corporation, the ratio stayed below 1 for most of the periods, suggesting that the company may not be maximizing the use of its assets to generate revenue.
The decreasing trend observed in the latter part of the period, particularly from March 31, 2023, to December 31, 2024, could signify potential inefficiencies in asset management or a decline in sales relative to the total assets employed.
Further analysis would be warranted to understand the underlying reasons for the fluctuations in the total asset turnover ratio and to identify potential areas for improvement in operational efficiency and asset utilization within Dover Corporation.
Peer comparison
Dec 31, 2024