Dover Corporation (DOV)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 1,844,880 | 386,766 | 328,752 | 929,954 | 398,561 | 283,798 | 285,777 | 272,426 | 380,868 | 306,002 | 515,371 | 289,984 | 385,504 | 739,144 | 601,359 | 536,512 | 513,075 | 427,501 | 649,032 | 508,907 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Quick ratio | 0.84 | 0.16 | 0.15 | 0.31 | 0.16 | 0.13 | 0.12 | 0.11 | 0.14 | 0.11 | 0.20 | 0.13 | 0.17 | 0.37 | 0.32 | 0.30 | 0.30 | 0.24 | 0.31 | 0.24 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,844,880K
+ $—K
+ $—K)
÷ $2,196,530K
= 0.84
The quick ratio of Dover Corporation has shown some fluctuations over the past few years. The ratio started at a low of 0.24 in March 2020, indicating that the company may have had difficulty meeting its short-term obligations with its most liquid assets. The ratio then improved to 0.37 by September 2021, suggesting a stronger ability to cover its current liabilities with its quick assets. However, the ratio dropped significantly to 0.11 in March 2022, indicating potential liquidity concerns and difficulty in meeting short-term obligations.
Subsequently, the quick ratio fluctuated around the range of 0.11 to 0.32 until December 2024 when it saw a substantial increase to 0.84. This spike in the quick ratio could indicate either a significant increase in cash or other highly liquid assets relative to current liabilities, or a decrease in current liabilities.
Overall, the trend in the quick ratio for Dover Corporation has been volatile, indicating fluctuations in the company's ability to quickly cover its short-term liabilities using its most liquid assets. Further analysis of the components contributing to the changes in the quick ratio would provide more insights into the company's liquidity position and financial stability.
Peer comparison
Dec 31, 2024