MEDIUMBuilt-inGeographic
46%
revenues outside the United States
“10-K Item 1A: 'Approximately 46% of our revenues for both 2025 and 2024 were derived outside the United States'”
DOV · Concentration risk · 10-K extracted
Dover (DOV) concentration risks
Updated
The most significant concentration Dover discloses is revenues outside the United States at 46%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Dover’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH0
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile is limited to a single geographic revenue exposure. Approximately 46% of revenues for both 2025 and 2024 were derived outside the United States, a moderate-share exposure by disclosed size with a structural character. The structural designation reflects the fact that the company's international revenue base is a deliberate feature of its diversified industrial platform rather than a reliance on any specific foreign customer, government contract, or named counterparty. Because this exposure is diffuse across multiple countries and end-markets rather than tied to a single geography or buyer, the primary transmission mechanism for risk is macro-level: currency translation, regional demand cycles, and broad trade-policy developments rather than idiosyncratic counterparty decisions. Year-over-year consistency — the same 46% share in both years cited — suggests a stable geographic revenue mix rather than one in flux. No customer, product, or supplier concentrations are separately disclosed at a level that rises above this geographic exposure, which indicates the overall concentration profile is relatively contained. On balance, the moderate international revenue share is the dominant watchpoint, and it reflects sector-wide geographic diversification typical of large-cap industrials. It is unlikely to drive the verdict on its own, but it does argue for monitoring foreign exchange trends and regional industrial demand as ongoing variables that can affect reported results.
For the engine’s reasoning on DOV’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Specialty Industrial Machinery
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CMI | Cummins Inc. | 2 | 1 | 0 | 3 |
| AOS | A.O. Smith Corporation | 1 | 1 | 1 | 3 |
| CR | Crane Company | 0 | 1 | 0 | 1 |
| DOV● | Dover Corporation | 0 | 1 | 0 | 1 |
| AME | AMETEK, Inc. | 0 | 0 | 1 | 1 |
| BW | Babcock & Wilcox Enterprises, I | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.