Dover Corporation — Earnings Quality Grade F
DOV · Industrials
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 62 days, change -2 days YoY
AR growth 1.3% vs revenue growth 4.5%
Revenue 4.5%, CFFO 78.2%. Cash follows revenue
Expense Quality
Inventory 11.2% vs COGS 1.8%. Normal
CapEx growth 31.5% is >2x revenue growth 4.5%
SG&A/Gross Profit = 57.3%. Normal
Gross margin 39.8%, change +1.6pp. Stable
Cash Flow Quality
CFFO/NI = 1.22. Profits backed by cash
FCF $1.1B, FCF/NI = 1.02
Accruals ratio = -1.8%. Low accruals
Cash $1.7B covers only 47% of debt $3.6B
Balance Sheet Health
Goodwill+Intangibles $7.2B = 97% of equity. Over 50%
Debt/EBITDA = 1.9x. Healthy
Other assets 10.2% vs revenue 4.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 11% YoY. Normal
Manipulation Score
M-Score = -2.56 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09