Dover (DOV) FY2017 results: revenue $6.8 billion, up 12.9% on the year
Dover Corp. (DOV) reported revenue of $6.8 billion for fiscal 2017, the year ended 31 December 2017, up 12.9% on the year before. Net income was $812 million, up 59.5%, and diluted earnings per share $5.15. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$6.8 billion
+12.9% on the year
FY2010FY2017
Operating margin
11.8%
11.7% a year earlier
FY2010FY2017
Net income
$812 million
+59.5% on the year
FY2010FY2017
Diluted EPS
$5.15
+58.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
6,821
6,043
6,956
+12.9%
Cost of revenue
4,292
3,816
4,388
+12.5%
Gross profit
2,529
2,228
2,568
+13.5%
Gross margin
37.1%
36.9%
36.9%
Research and development
131
116
115
+12.7%
Selling, general and administrative
1,722
1,519
1,647
+13.4%
Operating income
807
709
921
+13.8%
Operating margin
11.8%
11.7%
13.2%
Interest expense
145
136
132
+6.8%
Pre-tax income
876
685
801
+27.9%
Income tax
129
183
205
-29.2%
Effective tax rate
14.7%
26.7%
25.6%
Net income
812
509
870
+59.5%
Net margin
11.9%
8.4%
12.5%
Diluted EPS
$5.15
$3.25
$5.46
+58.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
836
863
835
-3.2%
Capital expenditure
170
140
154
+21.8%
Free cash flow
666
723
681
-8.0%
Free cash flow margin
9.8%
12.0%
9.8%
Depreciation and amortisation
283
250
327
+13.5%
Share-based compensation
24.1
18.6
30.7
+29.1%
Buybacks
105
0.0
600
Dividends paid
284
268
258
+6.1%
Dividend per share
$1.82
$1.72
$1.64
+5.8%
Diluted shares, weighted
158m
157m
159m
+0.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,383
3,800
3,645
+15.4%
Debt
3,568
3,621
2,755
-1.5%
Other liabilities
2,707
2,695
2,220
+0.4%
Total liabilities and equity
10,658
10,116
8,620
+5.4%
Fixed assets
788
946
854
-16.7%
Goodwill
3,686
3,666
3,737
+0.6%
Intangible assets
1,283
1,803
1,413
-28.9%
Cash and equivalents
754
349
362
+115.9%
Receivables
1,184
1,265
1,120
-6.5%
Inventory
677
870
803
-22.2%
Other assets
2,286
1,217
329
+87.9%
Total assets
10,658
10,116
8,620
+5.4%
10-K for the year ended 31 December 2017, filed 15 February 2019: the filing.