Dover Corporation (DOV)

Current ratio

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
Total current assets US$ in thousands 3,390,240 3,456,880 3,414,680 3,315,850 3,423,460 3,377,040 3,591,000 3,232,480 3,061,710 3,299,420 3,059,530 2,815,080 2,619,190 2,604,980 2,799,440 2,706,000 2,548,430 2,585,990 2,623,250 2,529,470
Total current liabilities US$ in thousands 2,413,770 2,187,780 2,424,100 2,508,490 2,773,270 2,888,750 2,547,640 2,246,920 2,250,340 2,005,880 1,901,410 1,775,360 1,738,800 1,766,370 2,113,760 2,094,360 1,748,090 1,825,300 1,955,120 1,946,920
Current ratio 1.40 1.58 1.41 1.32 1.23 1.17 1.41 1.44 1.36 1.64 1.61 1.59 1.51 1.47 1.32 1.29 1.46 1.42 1.34 1.30

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $3,390,240K ÷ $2,413,770K
= 1.40

The current ratio of Dover Corp. has shown some fluctuations over the past eight quarters. It ranged from a low of 1.17 in Q3 2022 to a high of 1.58 in Q3 2023, indicating some variability in the company's ability to meet its short-term obligations. A current ratio above 1 suggests that the company has more current assets than current liabilities, which is generally considered healthy.

Despite the fluctuations, the current ratio has generally been above 1 in recent quarters, indicating that Dover Corp. has had sufficient current assets to cover its short-term liabilities. However, the decreasing trend from Q3 2023 to Q4 2023 may warrant further investigation into the company's liquidity position and management of working capital.


Peer comparison

Dec 31, 2023

Company name
Symbol
Current ratio
Dover Corporation
DOV
1.40
ChampionX Corporation
CHX
1.82