DOVER Corp FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$8.1B
Gross margin	39.8%
Operating income	$1.4B
Net income	$1.1B
Diluted EPS	$7.94
Cash & equivalents	— not reported
Total assets	$13.4B
Long-term debt	$3.3B

Key takeaway

Dover reported $8.09 billion in revenue and $1.09 billion in net income for fiscal 2025 from continuing operations.

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Beneath the surface

Goodwill of $5.43 billion and intangible assets of $1.66 billion net together make up nearly half of total assets ($13.42 billion), reflecting heavy reliance on acquisition-driven growth rather than organic asset build.

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