Dover Corporation stock research
FY2024 Q3
Dover (DOV) Gross Margin — Quarter Ended Sep 30, 2024
Revenue was unchanged compared to the same quarter last year but increased from the prior quarter. Gross profit rose from both prior periods, while cost of revenue held steady; the resulting gross margin improved from a year ago but weakened slightly versus the previous quarter.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue was unchanged compared to the same quarter last year but increased from the prior quarter. Gross profit rose from both prior periods, while cost of revenue held steady; the resulting gross margin improved from a year ago but weakened slightly versus the previous quarter.
- Gross profit growth outpaced revenue changes when compared year over year, lifting the margin. The margin was essentially stable sequentially despite a higher revenue base.
- Gross margin was higher than the same quarter one year earlier but fractionally lower than the immediately preceding quarter. Cost of revenue was similar across all three periods, so the margin movement was driven primarily by gross profit relative to revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
38.5%
Gross profit
$763.2M
Revenue
$2.0B
Cost of revenue
$1.2B
Quarter-over-quarter change
-0.1 pts
Year-over-year change
+0.7 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Dec 31, 2023 | $1.9B | $718.9M | $1.2B | 37.7% |
| Mar 31, 2024 | $1.9B | $697.2M | $1.2B | 37.0% |
| Jun 30, 2024 | $1.9B | $752.5M | $1.2B | 38.6% |
| Sep 30, 2024 | $2.0B | $763.2M | $1.2B | 38.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-0.1 pts
Year-over-year change
Sep 30, 2023
+0.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit growth outpaced revenue changes when compared year over year, lifting the margin. The margin was essentially stable sequentially despite a higher revenue base.
Gross margin was higher than the same quarter one year earlier but fractionally lower than the immediately preceding quarter. Cost of revenue was similar across all three periods, so the margin movement was driven primarily by gross profit relative to revenue.
Monitor whether revenue growth can be sustained without a proportional increase in cost of revenue.