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