Dover Corporation stock research
FY2025 Q1
Dover (DOV) Gross Margin — Quarter Ended Mar 31, 2025
Revenue was stable compared to the prior quarter and the same quarter last year. Gross profit was higher than a year ago, while cost of revenue was lower than the previous quarter and the prior year, resulting in a gross margin that improved sequentially and year-over-year.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue was stable compared to the prior quarter and the same quarter last year. Gross profit was higher than a year ago, while cost of revenue was lower than the previous quarter and the prior year, resulting in a gross margin that improved sequentially and year-over-year.
- The improvement in gross margin from the prior quarter is primarily associated with a lower cost of revenue relative to revenue, as gross profit remained nearly unchanged. Compared to the same quarter last year, the higher gross profit alongside a lower cost of revenue drove the expansion.
- Sequentially, revenue was stable, gross profit was nearly unchanged, cost of revenue decreased, and gross margin increased. Year-over-year, revenue was stable, gross profit was higher, cost of revenue was lower, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
40.0%
Gross profit
$745.5M
Revenue
$1.9B
Cost of revenue
$1.1B
Quarter-over-quarter change
+1.3 pts
Year-over-year change
+2.9 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 |
|---|---|---|---|---|
| Jun 30, 2024 | $1.9B | $752.5M | $1.2B | 38.6% |
| Sep 30, 2024 | $2.0B | $763.2M | $1.2B | 38.5% |
| Dec 31, 2024 | $1.9B | $745.7M | $1.2B | 38.6% |
| Mar 31, 2025 | $1.9B | $745.5M | $1.1B | 40.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
+1.3 pts
Year-over-year change
Mar 31, 2024
+2.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The improvement in gross margin from the prior quarter is primarily associated with a lower cost of revenue relative to revenue, as gross profit remained nearly unchanged. Compared to the same quarter last year, the higher gross profit alongside a lower cost of revenue drove the expansion.
Sequentially, revenue was stable, gross profit was nearly unchanged, cost of revenue decreased, and gross margin increased. Year-over-year, revenue was stable, gross profit was higher, cost of revenue was lower, and gross margin improved.
Monitor changes in cost of goods and services, as a lower level was a key factor in the margin improvement for the current quarter.