Dover Corporation (DOV)
Debt-to-assets ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,991,760 | 2,944,750 | 2,976,570 | 2,961,360 | 2,942,510 | 2,842,660 | 2,936,120 | 2,981,920 | 3,018,710 | 3,060,180 | 3,083,250 | 3,063,370 | 3,108,830 | 3,047,220 | 3,000,870 | 2,963,020 | 2,985,720 | 2,908,730 | 2,946,490 | 2,940,970 |
| 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 |
| Debt-to-assets ratio | 0.26 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.28 | 0.29 | 0.31 | 0.32 | 0.33 | 0.34 | 0.34 | 0.33 | 0.33 | 0.34 | 0.34 | 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
The debt-to-assets ratio of Dover Corp. has fluctuated over the past eight quarters, ranging from 0.29 to 0.34. This ratio indicates the proportion of the company's assets financed by debt. A lower ratio suggests lower financial risk, as a smaller portion of assets is funded by debt.
In Q4 2023 and Q3 2023, the debt-to-assets ratio was relatively stable at 0.30 and 0.29, respectively. This suggests that the company maintained a consistent level of debt relative to its assets during these periods. It may indicate prudent financial management or a strategic balance between debt and equity financing.
In Q1 2023, the ratio increased to 0.32, and in Q2 2023, it further rose to 0.31. These higher ratios could indicate increased reliance on debt financing, which may pose higher risk if not managed effectively. It is important to monitor this trend to ensure that the company's debt levels remain sustainable and aligned with its overall financial strategy.
Compared to the same periods in the previous year, the debt-to-assets ratio in Q4 2023 and Q3 2023 were lower than Q4 2022 and Q3 2022, respectively. This may suggest that the company has made efforts to reduce its debt burden or improve its asset base during these quarters.
Overall, analyzing the debt-to-assets ratio provides insights into Dover Corp.'s capital structure and financial leverage. It is crucial for investors and stakeholders to consider this ratio in conjunction with other financial metrics to assess the company's overall financial health and risk profile.
Peer comparison
Dec 31, 2023