Dover Corporation (DOV)
Current ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 4,484,500 | 3,745,900 | 3,265,970 | 3,909,940 | 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 |
| Total current liabilities | US$ in thousands | 2,196,530 | 2,387,200 | 2,134,160 | 2,984,440 | 2,499,840 | 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 |
| Current ratio | 2.04 | 1.57 | 1.53 | 1.31 | 1.36 | 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 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $4,484,500K ÷ $2,196,530K
= 2.04
Dover Corporation's current ratio has shown fluctuations over the past few years, ranging from a low of 1.17 to a high of 2.04. Generally, a current ratio above 1 indicates that a company has more current assets than current liabilities, which is typically considered a positive sign of liquidity.
The current ratio increased steadily from March 31, 2020, to December 31, 2021, reaching a peak of 1.64, indicating a strengthening liquidity position during this period. However, there was a notable decline in the current ratio in the following quarters, dropping to 1.17 by September 30, 2022. This could suggest a potential liquidity strain or changes in the company's working capital management.
Subsequently, the current ratio improved again, reaching 2.04 by December 31, 2024, reflecting a significant increase in current assets relative to current liabilities. A current ratio above 2 may indicate that the company is holding a relatively high level of current assets compared to its short-term obligations, which could be a signal for further analysis regarding the efficiency of asset management and potential excess liquidity.
Overall, Dover Corporation's current ratio has shown varying trends, with fluctuations that may warrant closer examination of the company's liquidity management practices and overall financial health.
Peer comparison
Dec 31, 2024