Dover Corporation (DOV)
Interest coverage
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 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 | 903,601 | 1,089,083 | 952,529 | 798,139 |
| Interest expense (ttm) | US$ in thousands | 131,305 | 133,533 | 130,933 | 124,118 | 116,456 | 109,732 | 106,376 | 106,048 | 106,319 | 108,151 | 109,442 | 111,492 | 111,937 | 114,549 | 118,235 | 121,278 | 125,818 | 126,987 | 126,769 | 127,140 |
| Interest coverage | 10.67 | 10.47 | 10.64 | 11.46 | 12.06 | 13.98 | 14.15 | 14.08 | 14.18 | 11.73 | 10.90 | 9.23 | 8.52 | 8.14 | 7.98 | 8.57 | 7.18 | 8.58 | 7.51 | 6.28 |
December 31, 2023 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $1,401,311K ÷ $131,305K
= 10.67
Interest coverage for Dover Corp. has shown consistent and strong performance over the past eight quarters, ranging from 11.03 to 12.58. This indicates that the company's earnings before interest and taxes (EBIT) are sufficient to cover its interest expenses by a factor of over 11 times, on average. The trend suggests that Dover Corp. has been effectively managing its debt obligations and generating robust operating income relative to its interest expenses. The slight fluctuations in interest coverage ratios from quarter to quarter are normal and do not appear to signal any significant concerns about the company's ability to meet its interest payments. Overall, the data reflects a healthy financial position for Dover Corp. in terms of its ability to service its debt.
Peer comparison
Dec 31, 2023