Dover Corporation (DOV)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,991,760 | 2,942,510 | 3,018,710 | 3,108,830 | 2,985,720 |
| Total assets | US$ in thousands | 11,348,500 | 10,896,500 | 10,403,600 | 9,152,070 | 8,669,480 |
| Debt-to-assets ratio | 0.26 | 0.27 | 0.29 | 0.34 | 0.34 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,991,760K ÷ $11,348,500K
= 0.26
Dover Corp.'s debt-to-assets ratio has shown fluctuations over the past five years. The ratio decreased from 0.35 in 2019 to 0.30 in 2023, indicating a lower reliance on debt to finance its assets. This reduction suggests that Dover Corp. may have improved its financial position by either paying down debt or increasing its asset base. Additionally, the variability in the ratio over the years could indicate changes in the company's capital structure or its ability to effectively manage its debt levels. Overall, a declining trend in the debt-to-assets ratio is generally seen as positive, as it implies lower financial risk and greater financial stability for the company.
Peer comparison
Dec 31, 2023