What is DOVER Corp worth?
With the base-case assumptions below, a discounted cash flow model on DOVER Corp's reported free cash flow gives $130.02 per share. The share price was $191.88 on September 25, 2026, 48% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -1.0% | 10.0% | $76.28 | -60% |
| Base | 4.0% | 9.0% | $130.02 | -32% |
| Bull | 9.0% | 8.0% | $230.35 | +20% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $168.22 | $179.81 | $193.98 | $211.69 | $234.47 |
| 8.0% | $139.76 | $147.28 | $156.17 | $166.83 | $179.86 |
| 9.0% | $118.94 | $124.08 | $130.02 | $136.94 | $145.11 |
| 10.0% | $103.06 | $106.72 | $110.86 | $115.60 | $121.06 |
| 11.0% | $90.56 | $93.24 | $96.23 | $99.60 | $103.42 |
Where the presets come from
Base: years 1 to 5 grow at DOVER Corp's revenue growth rate over the last 5 fiscal years (3.9% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions