Dover Corporation (DOV)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 1,366,340 | 1,379,330 | 1,281,510 | 932,987 | 974,894 |
| Total assets | US$ in thousands | 11,348,500 | 10,896,500 | 10,403,600 | 9,152,070 | 8,669,480 |
| Operating ROA | 12.04% | 12.66% | 12.32% | 10.19% | 11.25% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $1,366,340K ÷ $11,348,500K
= 12.04%
Dover Corp.'s operating return on assets (operating ROA) has shown a fluctuating trend over the past five years. In 2023, the operating ROA was reported at 12.04%, indicating that for every dollar of assets in operation, the company generated a return of 12.04 cents. This is a slight decrease from the previous year when the operating ROA stood at 12.66%. Despite the decline in 2023, the current operating ROA remains relatively strong compared to earlier years.
Looking back at the trend, there was a notable improvement in operating ROA in 2020 with a reported figure of 10.19%, compared to 2019 when it was 11.79%. The company's efficiency in generating earnings from its operational assets took a significant leap in 2020. Subsequently, there was an increase in the operating ROA in 2021 to 12.32%, showcasing consistent performance.
Overall, Dover Corp.'s operating ROA indicates the company's ability to generate profits relative to its operational assets, with fluctuations seen over the years. Analyzing this metric alongside other financial indicators would provide a comprehensive view of the company's operational efficiency and financial performance.
Peer comparison
Dec 31, 2023