Dover Corporation (DOV)
Return on total capital
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 1,641,368 | 2,001,497 | 1,967,890 | 1,916,054 | 1,401,311 | 1,397,721 | 1,393,692 | 1,422,210 | 1,403,961 | 1,534,537 | 1,505,667 | 1,493,327 | 1,507,145 | 1,268,672 | 1,193,441 | 1,028,976 | 953,671 | 932,897 | 943,516 | 1,039,469 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 6,954,000 | 5,698,000 | 5,363,620 | 5,152,850 | 5,106,600 | 4,832,500 | 4,662,100 | 4,460,560 | 4,286,370 | 3,991,430 | 4,388,520 | 4,329,780 | 4,189,530 | 3,891,820 | 3,719,300 | 3,499,140 | 3,385,770 | 3,246,420 | 3,089,530 | 2,980,680 |
| Return on total capital | 23.60% | 35.13% | 36.69% | 37.18% | 27.44% | 28.92% | 29.89% | 31.88% | 32.75% | 38.45% | 34.31% | 34.49% | 35.97% | 32.60% | 32.09% | 29.41% | 28.17% | 28.74% | 30.54% | 34.87% |
December 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $1,641,368K ÷ ($—K + $6,954,000K)
= 23.60%
Dover Corporation's return on total capital has exhibited fluctuations over the reported periods. The ratio started at a high of 34.87% as of March 31, 2020. It gradually decreased to 28.17% by December 31, 2020, before showing signs of recovery to 32.09% by June 30, 2021. The return on total capital surged to a peak of 38.45% by September 30, 2021, indicating strong performance during that period.
However, the ratio experienced a slight decline to 32.75% by December 31, 2022, followed by a notable increase to 37.18% by March 31, 2023, suggesting a robust performance trend. Despite this peak, the ratio decreased to 27.44% by December 31, 2023, marking a significant decline in performance.
The trend continued with a slight recovery to 36.69% by June 30, 2024, before dropping to 23.60% by December 31, 2024, indicating a notable decline in return on total capital at the end of the reporting period.
Overall, the fluctuations in Dover Corporation's return on total capital reflect varying levels of profitability and efficiency in utilizing total capital resources over the reported quarters. It is essential for stakeholders to closely monitor these trends to assess the company's financial performance and sustainability.
Peer comparison
Dec 31, 2024