Dover Corporation

Net debt was 1.65 billion dollars at December 31, 2025 with total debt of 3.33 billion dollars and cash of 1.68 billion dollars; net debt to net capitalization was 18 percent. Interest coverage was ample, and the company maintains BBB+ (S&P) and Baa1 (Moody’s) ratings with stable outlooks.

Free cash flow of 1.12 billion dollars comfortably funds dividends and buybacks while preserving flexibility for bolt‑on M&A. Maturity ladder is well‑staggered, and there were no borrowings under committed credit facilities at year‑end.