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Dover Corporation

dovercorporation.com

What Do They Do?

Makes industrial equipment and components, plus related digital and service solutions, for manufacturers, energy and fuel businesses, and commercial operators.

How Do They Make Money?

Most sales are equipment and components, generally tied to shipment; service revenue comes as work is performed. Customers generally have 30 to 90 days to pay.

revenue

Segment	Share	How money arrives
Engineered Products Sold outright	13% FY2022: 18%	Sold outright
Clean Energy & Fueling Sold outright	26% FY2022: 24%	Sold outright
Imaging & Identification Sold outright	15% FY2022: 14%	Sold outright
Pumps & Process Solutions Sold outright	27% FY2022: 22%	Sold outright
Climate & Sustainability Technologies Sold outright	19% FY2022: 22%	Sold outright

Who Are Their Customers?

Dover serves customers across manufacturing, energy and fueling, and commercial refrigeration and food retail markets.

Do Revenues Turn Into Profits?

Yes. It kept 14 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

17% of revenue

▲ +14% vs FY2024 ($1.2B, 16%)

Net income, FY2025

14% of revenue

▼ −59% vs FY2024 ($2.7B, 35%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Revenue: ▲ +8%; vs $2.1B in Q3 FY2025
Net income: ▲ +10%; vs $302M in Q3 FY2025

Pumps & Process Solutions share of revenue vs 26.5% in Q3 FY2025

Jul 23, 2026 Raised full-year adjusted EPS guidance The company raised its full-year adjusted EPS outlook and expects 6% to 8% revenue growth.

Flat. Revenue was $8.1B in FY2025, about the same as the $7.9B of FY2021.

Engineered Products market scope The older report listed waste handling among Engineered Products' markets; the latest segment description instead lists the vehicle aftermarket, aerospace and defense, winch and hoist, soldering and fluid dispensing.

Revenue over time

Engineered Products Clean Energy & Fueling Imaging & Identification Pumps & Process Solutions Climate & Sustainability Technologies

$10B$5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Snap-On, The COATS, Arrowhead Winch, Teledyne, Nordson, Vontier, Tatsuno, Franklin Electric, Verifone, Elaflex, PDI Technologies, Ingersoll Rand, Dixon Valve & Coupling, Crane, Sonny's Enterprises, National Carwash Solutions, Washtec, Veralto, Brother Industries, and Electronics for Imaging