Dover Corporation (DOV)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,056,830 | 1,065,380 | 1,123,820 | 683,451 | 677,918 |
| Total assets | US$ in thousands | 11,348,500 | 10,896,500 | 10,403,600 | 9,152,070 | 8,669,480 |
| ROA | 9.31% | 9.78% | 10.80% | 7.47% | 7.82% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $1,056,830K ÷ $11,348,500K
= 9.31%
Dover Corp.'s return on assets (ROA) has fluctuated over the past five years. The company's ROA decreased from 7.82% in 2019 to 7.47% in 2020 before experiencing a slight recovery to 10.80% in 2021. However, the ROA declined again to 9.78% in 2022 and further to 9.31% in 2023. This trend indicates some variability in the company's ability to generate profits from its assets.
Overall, while Dover Corp. has maintained a positive ROA throughout the period, the fluctuation in the ratio suggests that the company may have faced challenges in effectively utilizing its assets to generate income consistently. Further analysis of the underlying factors influencing these fluctuations would be necessary to assess the company's asset management efficiency comprehensively.
Peer comparison
Dec 31, 2023