Dover Corporation (DOV)

Solvency ratios

	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
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
Debt-to-capital ratio	0.37	0.38	0.39	0.40	0.41	0.42	0.40	0.41	0.42	0.44	0.45	0.47	0.48	0.53	0.54	0.54	0.50	0.53	0.54	0.56
Debt-to-equity ratio	0.59	0.61	0.64	0.66	0.69	0.71	0.67	0.69	0.72	0.79	0.83	0.88	0.92	1.13	1.17	1.18	0.98	1.14	1.18	1.25
Financial leverage ratio	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	3.33	3.54	3.56	2.86	3.39	3.51	3.67

Dover Corp.'s solvency ratios indicate its ability to meet its long-term financial obligations and the extent of its leverage. The debt-to-assets ratio has been relatively stable around 0.30 to 0.34 over the past eight quarters, suggesting that roughly 30% to 34% of the company's assets are financed by debt.

The debt-to-capital and debt-to-equity ratios show a similar trend, with both ratios gradually increasing from Q1 2022 to Q4 2023. The debt-to-capital ratio ranges from 0.40 to 0.46, while the debt-to-equity ratio ranges from 0.65 to 0.91 during the same period. These ratios indicate that Dover Corp. relies more on debt than equity to finance its operations, with debt making up between 40% to 46% of the total capital and 65% to 91% of the total equity.

The financial leverage ratio, which measures the extent to which the company is using debt to finance its assets, has been fluctuating between 2.22 to 2.67. This implies that for every dollar of equity, the company has between $2.22 to $2.67 in total assets, with the rest funded by debt.

Overall, Dover Corp.'s solvency ratios suggest a moderate level of leverage, with a relatively stable debt structure in relation to its assets, capital, and equity over the past eight quarters. Investors and stakeholders may want to monitor these ratios to assess the company's ability to manage its debt levels effectively in the long term.

Coverage ratios

	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
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

Based on the provided data, Dover Corp.'s interest coverage ratio has been relatively stable over the past eight quarters, ranging from a high of 12.58 in Q2 2022 to a low of 11.03 in Q2 2023. This indicates that the company's ability to meet its interest obligations with its operating income has been consistent.

A consistently high interest coverage ratio, as seen in the case of Dover Corp., typically suggests that the company is in a strong financial position with sufficient earnings to cover its interest expenses. Investors and creditors often view a high interest coverage ratio positively as it indicates a lower risk of default on debt payments.

It is important to note that while a high interest coverage ratio is a positive sign, it is also essential to consider other financial metrics and factors to assess the overall financial health and performance of Dover Corp.