Dover (DOV) Interest Coverage

: 11.47 (As of Dec. 2023)

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Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. Dover's Operating Income for the three months ended in Dec. 2023 was $354 Mil. Dover's Interest Expense for the three months ended in Dec. 2023 was $-31 Mil. Dover's interest coverage for the quarter that ended in Dec. 2023 was 11.47. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Dover's Interest Coverage or its related term are showing as below:

DOV' s Interest Coverage Range Over the Past 10 Years
Min: 5.21 Med: 8.23 Max: 12.05
Current: 10.41

DOV's Interest Coverage is ranked worse than
55.34% of 2302 companies
in the Industrial Products industry
Industry Median: 13.49 vs DOV: 10.41

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Dover Interest Coverage Historical Data

The historical data trend for Dover's Interest Coverage can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

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Dover Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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8.12

8.33

12.05

11.84

10.41

Dover Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Coverage	Get a 7-Day Free Trial															10.65	9.20	9.60	11.51	11.47

Competitive Comparison

For the Specialty Industrial Machinery subindustry, Dover's Interest Coverage, along with its competitors' market caps and Interest Coverage data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Dover Interest Coverage Distribution

For the Industrial Products industry and Industrials sector, Dover's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Dover's Interest Coverage falls into.

Dover Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage

-1

Operating Income

Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt ⁽¹⁾.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Dover's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as

Here, for the fiscal year that ended in Dec. 2023, Dover's Interest Expense was $-131 Mil. Its Operating Income was $1,366 Mil. And its Long-Term Debt & Capital Lease Obligation was $3,165 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	1366.343	/	-131.305
	=	10.41

Dover's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Dover's Interest Expense was $-31 Mil. Its Operating Income was $354 Mil. And its Long-Term Debt & Capital Lease Obligation was $3,165 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	354.472	/	-30.898
	=	11.47

The higher the ratio, the stronger the company's Financial Strength is.

Dover (NYSE:DOV) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .

Dover Interest Coverage Related Terms

Thank you for viewing the detailed overview of Dover's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

Dover (DOV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Dover Corp (NYSE:DOV) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

DOV:Germany DOV:Germany

Address

3005 Highland Parkway, Downers Grove, IL, USA, 60515

Website

https://www.dovercorporation.com

Dover is a diversified industrial manufacturing company with products and services that include digital printing for fast-moving consuming goods, marking and coding for the food and beverage industry, loaders for the waste collection industry, pumps for the transport of fluids, including petroleum and natural gas, and commercial refrigerators used in groceries and convenience stores. Most of the business operates in the United States. After the spinoff of Apergy, the company operates through five segments: engineered systems, clean energy and fueling solutions, imaging and identification, pumps and process solutions, and climate and sustainability technologies equipment.

Executives

Brad M Cerepak	officer: Senior Vice President and CFO	C/O DOVER CORPORATION, 3005 HIGHLAND PARKWAY, SUITE 200, DOWNERS GROVE IL 60515
Anthony K Kosinski	officer: Vice President, Tax	3005 HIGHLAND PARKWAY, SUITE 200, DOWNERS GROVE IL 60515
Marc A Howze	director	DEERE & COMPANY, ONE JOHN DEERE PLACE, MOLINE IL 61265
Danita K Ostling	director	1665 UTICA AVENUE, ST. LOUIS PARK MN 55416
Michael Mark Manley	director	1000 CHRYSLER DRIVE, CIMS 485-09-96, AUBURN HILLS MI 48326
David J. Malinas	officer: SVP, Operations	36411 SOUTH PARK DRIVE, AVON OH 44011
Richard J Tobin	director, officer: CEO and President	3005 HIGHLAND PARKWAY, SUITE 200, DOWNERS GROVE IL 60515
Kristiane C Graham	director	C/O DOVER CORPORATION, 3005 HIGHLAND PARKWAY, SUITE 200, DOWNERS GROVE IL 60515
Ivonne M Cabrera	officer: SVP and General Counsel	C/O DOVER CORPORATION, 3005 HIGHLAND PARKWAY, SUITE 200, DOWNERS GROVE IL 60515
Kimberly Bors	officer: SVP, Human Resources	C/O DOVER CORPORATION, 3005 HIGHLAND PARKWAY, SUITE 200, DOWNERS GROVE IL 60515
Ryan Paulson	officer: VP, Controller	3005 HIGHLAND PARKWAY, SUITE 200, DOWNERS GROVE IL 60515
James M Moran	officer: Vice President, Treasurer	C/O DOVER CORPORATION, 3005 HIGHLAND PARKWAY, SUITE 200, DOWNERS GROVE IL 60515
Girish Juneja	officer: SVP, Chief Digital Officer	3005 HIGHLAND PARKWAY, SUITE 200, DOWNERS GROVE IL 60515
Deborah L Dehaas	director	3005 HIGHLAND PARKWAY, SUITE 200, DOWNERS GROVE IL 60515
Mary A Winston	director	557 BROADWAY, C/O SCHOLASTIC CORP, NEW YORK NY 10012