Dover vs Hubbell
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KIRA’s take AI analyst
I put Dover and Hubbell side by side, using each one’s latest annual report. Here is what stands out:
- Dover is the larger business, with $8.1B of revenue in fiscal 2025 against $5.8B for Hubbell.
- Dover grew revenue faster (4.5%, against 3.8%).
- Hubbell kept more of each dollar of sales as operating profit (20.7% operating margin, against 17.0%).
- Hubbell turned more of its sales into free cash flow (15.0% FCF margin, against 13.8%).
- Hubbell earned a higher return on the capital invested in it (18.7%, against 12.0%).
- Investors pay more for each dollar of Hubbell’s earnings: a P/E of 27.1x against 23.6x for Dover.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Dover
DOV
2/11
Revenue growthGross margin
Hubbell
HUBB
9/11
5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | DOV FY25 | HUBB FY25 |
|---|---|---|
| Size | ||
| Market cap | $27.3B | $24.5B |
| Revenue | $8.1B | $5.8B |
| Free cash flow | $1.1B | $875M |
| Net income | $1.1B | $887M |
| Growth | ||
| Revenue growth | 4.5% | 3.8% |
| 5-year growth | 3.9% | 9.7% |
| Share count change | −0.7% | −0.9% |
| Profitability | ||
| Gross margin | 39.8% | 35.3% |
| Operating margin | 17.0% | 20.7% |
| Net margin | 13.5% | 15.2% |
| FCF margin | 13.8% | 15.0% |
| Return on capital | 12.0% | 18.7% |
| Return on equity | 15.2% | 24.5% |
| Balance sheet | ||
| Net debt | $2.4B | $1.8B |
| Net debt / EBITDA | 1.4x | 1.3x |
| Dividends and buybacks | $824M | $225M |
| Valuation & quality | ||
| P/E | 23.6x | 27.1x |
| Piotroski F-score | 5 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.