Dover Corporation

Evidence of pricing: Imaging & Identification reported approximately 3.1 percent favorable pricing in 2025; Pumps & Process Solutions and Clean Energy & Fueling expanded segment margins to 30.3 percent and 19.6 percent, respectively, supported by pricing vs cost and mix.

These franchises sell mission‑critical components with low cost of failure relative to total system value, enabling price realization over cycles. Latent pricing power remains in software, service contracts and consumables within Markem‑Imaje and across aftermarket parts.

Risk: price elasticity is higher in macro slowdowns and in more commoditized sub‑lines. Overall, proven pass‑through and mix uplift warrant a solid score.