Dover Corporation (DOV)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.80 | 2.09 | 2.11 | 2.33 | 2.22 | 2.23 | 2.34 | 2.42 | 2.54 | 2.67 | 2.46 | 2.43 | 2.48 | 2.54 | 2.59 | 2.65 | 2.70 | 2.77 | 2.95 | 3.00 |
Dover Corporation's solvency ratios indicate a strong financial position with consistently low levels of debt relative to its assets, capital, and equity. The Debt-to-assets ratio, Debt-to-capital ratio, and Debt-to-equity ratio have all been recorded as 0.00 throughout the analyzed period, signifying that the company's debt levels are negligible compared to its total assets, capital, and equity.
The Financial leverage ratio, which measures the proportion of debt in the company's capital structure, shows a decreasing trend from 3.00 on March 31, 2020, to 1.80 on December 31, 2024. This reduction indicates an improvement in the company's ability to meet its financial obligations with less reliance on debt financing over the years.
Overall, Dover Corporation's solvency ratios demonstrate a conservative approach to managing its financial leverage, maintaining a healthy balance between debt and equity to support its operations and expansion while minimizing financial risk.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 12.51 | 14.96 | 14.91 | 14.36 | 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 |
The interest coverage ratio for Dover Corporation has shown a generally positive trend over the last few years, indicating the company's ability to comfortably meet its interest obligations. The ratio has consistently been above 1, indicating that the company's operating income is more than sufficient to cover its interest expenses.
Specifically, the interest coverage ratio has improved steadily from a value of 8.57 as of March 31, 2020, to a peak of 14.96 as of September 30, 2024, before slightly dropping to 12.51 by December 31, 2024. This improvement signifies that Dover Corporation's ability to pay interest charges has strengthened over this period.
The consistent increase in the interest coverage ratio is a positive signal for Dover Corporation's creditors and investors, as it suggests that the company is managing its debt effectively and has a sufficient buffer to handle unexpected changes in its operating performance. Overall, the trend in Dover Corporation's interest coverage ratio demonstrates its financial stability and ability to manage its debt obligations.