Dover Corporation (DOV)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,084,630 | 3,063,560 | 2,969,790 | 2,474,020 | 2,620,940 |
| Revenue | US$ in thousands | 8,306,830 | 8,391,830 | 7,800,760 | 6,577,040 | 7,136,400 |
| Gross profit margin | 37.13% | 36.51% | 38.07% | 37.62% | 36.73% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,084,630K ÷ $8,306,830K
= 37.13%
The gross profit margin for Dover Corp. has been relatively stable over the past five years, ranging from 36.01% in 2019 to 37.56% in 2021. In 2023, the gross profit margin slightly increased to 36.56%. This indicates that the company has been able to effectively manage its production costs and pricing strategies to maintain healthy levels of profitability on its products and services. The consistent gross profit margins suggest that Dover Corp. has been able to maintain a stable level of efficiency and profitability in its operations over the years. Overall, the trend in gross profit margins for Dover Corp. reflects a solid performance in managing its cost of goods sold and generating profits from its revenue.
Peer comparison
Dec 31, 2023