Companies · DOV
Dover Corporation
AI-generated · informational only · not investment advice · verify before relying.
Latest analysis
Updated Oct 22, 2026
Dover Q3 2026: Orders up 16%, backlog +35% YoY, book-to-bill 1.03; secular growth markets now 25%+ of revenue with capacity-constrained heat exchangers and cryogenics driving 2027 visibility
Dover's Q3 2026 results are defined by order momentum, not current revenue: trailing 12-month bookings growing 16% year over year against 8% revenue growth, book-to-bill at 1.08 on a trailing basis, and a backlog 35% above prior-year levels with roughly half slated for 2027 shipment. The secular growth portfolio — now over 25% of total revenue, up from 18% in 2024 — is the engine, with Climate and Sustainability Technologies posting 18% organic growth led by liquid cooling for data centers and record CO2 refrigeration output. Management is accelerating pricing decisions ahead of schedule and narrowing full-year adjusted EPS guidance to $10.60–$10.75, representing double-digit growth, while deploying $400 million in buybacks year-to-date and committing approximately $80 million to two bolt-on acquisitions.
Tone: bullishRevenue
$8.1B
DOV 10-K · FY 2025
Employees
24,000
Revenue growth YoY
+4.5%
Founded
1947
Profile
DOV 10-K Item 1 · Feb 13, 2026Dover Corporation is a diversified global manufacturer and solutions provider operating across five segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. The company serves industrial and business-to-business end markets with equipment, components, consumable supplies, aftermarket parts, software, and support services. Dover was incorporated in Delaware in 1947 and employs approximately 24,000 people worldwide.
Read filing description ↓ Collapse description ↑
Dover Corporation is a diversified global manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. Dover was incorporated in 1947 in the State of Delaware and became a publicly traded company in 1955. Dover is headquartered in Downers Grove, Illinois and currently employs approximately 24,000 people worldwide. Dover's five segments are structured around businesses with similar business models, go-to-market strategies, product categories, and manufacturing practices. The Engineered Products segment provides equipment, components, software, solutions and services to vehicle aftermarket, aerospace and defense, industrial winch and hoist, precision soldering, and fluid dispensing end-markets. The Clean Energy & Fueling segment provides components, equipment, software solutions and services enabling safe storage, transport, dispensing, and remote monitoring of traditional and clean fuels, cryogenic gases, and other hazardous substances. The Imaging & Identification segment supplies precision marking and coding, product traceability, brand protection and digital textile printing equipment, consumables, software and services. The Pumps & Process Solutions segment manufactures specialty pumps, flow meters, fluid transfer connectors, engineered precision components, instruments and digital controls. The Climate & Sustainability Technologies segment provides innovative and energy-efficient equipment, components, solutions, services and parts for commercial refrigeration, heating and cooling, and beverage can-making equipment end-markets. Recurring demand, which includes parts, consumables, services and software, represents approximately 40% of total revenue.
Primary products
- vehicle lifts and wheel service equipment
- vehicle diagnostics and collision repair solutions
- industrial winches, hoists, bearings, drives, and electric monitoring systems
- radio frequency and microwave filters and switches
- signals intelligence and integrated solutions
- bench top soldering and fluid dispensing solutions
Business segments
End markets
Geographies
Named competitors
“In general, most of our businesses are market leaders that compete with only a few companies, and the key competitive factors are customer service, product quality, price and innovation.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue increased $346.7 million, or 4.5%, to $8.1 billion in 2025 versus 2024, driven by acquisition-related growth of 2.6%, organic revenue growth of 1.6%, and a favorable foreign currency translation impact of 1.0%, partially offset by a disposition-related decline of 0.7%.
The rest of DOV is for subscribers
Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.