Dover Corporation (DOV)
Operating return on assets (Operating ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 1,366,343 | 1,364,589 | 1,362,230 | 1,394,584 | 1,379,330 | 1,309,414 | 1,281,029 | 1,268,309 | 1,281,508 | 1,244,635 | 1,179,507 | 1,020,235 | 932,987 | 935,150 | 940,965 | 1,032,066 | 974,894 | 945,575 | 882,937 | 843,439 |
| Total assets | US$ in thousands | 11,348,500 | 10,772,100 | 10,901,600 | 10,804,600 | 10,896,500 | 10,652,300 | 10,807,400 | 10,501,000 | 10,403,600 | 9,902,980 | 9,630,000 | 9,270,890 | 9,152,070 | 8,985,970 | 9,114,130 | 8,944,250 | 8,669,480 | 8,669,300 | 8,776,050 | 8,657,910 |
| Operating ROA | 12.04% | 12.67% | 12.50% | 12.91% | 12.66% | 12.29% | 11.85% | 12.08% | 12.32% | 12.57% | 12.25% | 11.00% | 10.19% | 10.41% | 10.32% | 11.54% | 11.25% | 10.91% | 10.06% | 9.74% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $1,366,343K ÷ $11,348,500K
= 12.04%
To analyze Dover Corp.'s operating return on assets (ROA) trend, we reviewed the data from the past eight quarters. Operating ROA has fluctuated within a relatively narrow range from 11.85% to 12.91%. The highest operating ROA was recorded in Q1 2023 at 12.91%, while the lowest was in Q2 2022 at 11.85%.
Overall, the company has maintained a stable operating ROA performance over the quarters, with slight variations. This suggests that Dover Corp. has been effectively utilizing its assets to generate operating income consistently. The consecutive quarters of ROA above 12% indicate that the company is efficiently generating earnings in relation to its asset base. It demonstrates management's ability to control costs and effectively deploy assets to drive profitability.
Further evaluation of the factors influencing these fluctuations, such as changes in revenue, expenses, or asset utilization efficiency, would provide a more in-depth understanding of Dover Corp.'s operating ROA performance.
Peer comparison
Dec 31, 2023