---
title: "Dover Corporation: Business Model"
description: "Dover Corporation revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/dover-corporation/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Dover Corporation: Business Model & Revenue Engine

## Direct Answer

Dover Corporation reports revenue across 5 business segments in its fiscal 2025 Form 10-K. Pumps Process Solutions is the largest, with $2.1 billion of revenue (27% of the total), followed by Clean Energy Fueling at $2.1 billion (26%). 54% of revenue came from the United States.

## How Does Dover Corporation Make Money?

No single line supplies a majority of revenue: the largest, Pumps Process Solutions, is 27%, which spreads Dover Corporation's exposure across several demand drivers. Between fiscal 2024 and 2025, Pumps Process Solutions grew fastest (+13.4%) and Engineered Products slowest (-9.7%), so the revenue mix tilts toward Pumps Process Solutions while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Pumps Process Solutions | $2.1 billion | $1.9 billion | 26.6% | 13.4% |
| Clean Energy Fueling | $2.1 billion | $1.9 billion | 26.3% | 10.0% |
| Climate Sustainability Technologies | $1.6 billion | $1.6 billion | 19.3% | -1.3% |
| Imaging Identification | $1.2 billion | $1.1 billion | 14.5% | 3.2% |
| Engineered Products | $1.1 billion | $1.2 billion | 13.4% | -9.7% |

![Bar chart of Dover Corporation revenue by segment for fiscal 2025: Pumps Process Solutions 26.6%, Clean Energy Fueling 26.3%, Climate Sustainability Technologies 19.3%, Imaging Identification 14.5%, Engineered Products 13.4%.](https://www.getswoopr.com/images/charts/dover-corporation-business-model-segment-mix.webp)
*Dover Corporation revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Where Does Dover Corporation's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $4.4 billion | $4.2 billion | 54.4% | 4.7% |
| Europe | $1.8 billion | $1.7 billion | 21.9% | 5.5% |
| Asia | $900 million | $833 million | 11.1% | 8.1% |
| Americas | $708 million | $730 million | 8.7% | -3.0% |
| Other Geographical Area | $316 million | $306 million | 3.9% | 3.2% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of Dover Corporation's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Dover Corporation reported in the segment note and revenue disclosures of its Form 10-K filed February 13, 2026 (accession 0000029905-26-000009), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Dover Corporation's business segments?

In its fiscal 2025 Form 10-K, Dover Corporation reports revenue for Pumps Process Solutions, Clean Energy Fueling, Climate Sustainability Technologies, Imaging Identification and Engineered Products.

### Which part of Dover Corporation brings in the most revenue?

Pumps Process Solutions, with $2.1 billion of revenue in fiscal 2025, or 27% of the total.

### How much of Dover Corporation's revenue comes from outside the United States?

46% in fiscal 2025, by the geographic breakdown Dover Corporation reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: DOVER Corp Form 10-K filed February 13, 2026](https://www.sec.gov/Archives/edgar/data/29905/000002990526000009/dov-20251231.htm)
- [SEC EDGAR: DOVER Corp annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=29905&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [Dover Corporation company dossier](https://www.getswoopr.com/stocks/companies/dover-corporation/)
- [Dover Corporation financial metrics](https://www.getswoopr.com/stocks/companies/dover-corporation/metrics/)
- [Dover Corporation financial risk indicators](https://www.getswoopr.com/stocks/companies/dover-corporation/risks/)
- [Dover Corporation peer comparison](https://www.getswoopr.com/stocks/companies/dover-corporation/competitors/)
- [Dover Corporation business model and revenue mix](https://www.getswoopr.com/stocks/companies/dover-corporation/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).