The Short Answer
Dover stock (DOV) is generally halal at the activity level and financially passes the asset-based checks examined here, with methodology-dependent caveats. Dover's industrial portfolio is broadly permissible, but the filing does not allocate a universal prohibited-revenue percentage for defense, fueling, pharmaceutical, food or other downstream customer uses.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
3,290.113 / 13,506.68
1,641.916 / 13,506.68
3,086.474 / 13,506.68
14.06 / 2,053.623
- Financial
- Pass
- Overall
- Incomplete
Debt is 24.36%, liquidity is 12.16%, receivables plus cash/assets is 22.85% and disclosed interest income/revenue is 0.68%; the examined financial ratios pass. The downstream prohibited-revenue percentage remains unavailable.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity, receivables plus cash and disclosed interest income pass the examined MSCI total-assets checks. This is a calculation against the named method, not an index-membership claim; business-line and downstream end-use allocation remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt is 24.36%, liquidity is 12.16%, receivables plus cash/assets is 22.85% and disclosed interest income/revenue is 0.68%; the examined ratios pass. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Dover manufactures engineered products and equipment across Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. Industrial equipment, pumps, process components, marking and coding, refrigeration, and clean-energy infrastructure are generally permissible activities at the business-line level.
Limitation: Dover reports segment and end-market descriptions but does not provide a scholar-specific prohibited-revenue numerator for defense end use, fueling customers, pharmaceutical and food customers, or every downstream application.
Purification
Disclosed interest income is 0.68% of quarterly revenue. A universal prohibited-revenue numerator and scholar-approved purification percentage are not separately disclosed, so this record does not prescribe a fixed rate.
Inputs, assumptions and primary sources
- Inputs use Dover's March 31, 2026 Form 10-Q; amounts are USD millions converted from the filing's thousands presentation.
- Interest-bearing debt is $3,290.113 million: current portion of long-term debt plus long-term debt. Operating and other liabilities are not silently added.
- Cash and cash equivalents are $1,641.916 million. Dover says it may hold government money-market instruments or short-term investment-grade time deposits within its cash-management program; no separate securities balance is entered to avoid double-counting cash equivalents.
- Receivables use the reported net receivables balance of $1,444.558 million.
- Quarterly revenue is $2,053.623 million and disclosed interest income is $14.060 million. The filing does not provide a universal prohibited-revenue numerator for downstream end markets or customers.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
This calculation uses Dover's first-quarter 2026 Form 10-Q for the period ended March 31, 2026. It is a reproducible ZakatInvest screen, not a fatwa, an index-membership claim or personalized investment advice.
Current Quantitative Screen (March 31, 2026)
- Debt / assets: 24.36% — below the examined 33%–33.333% asset-based limits
- Cash / assets: 12.16% — $1,641.916 million of cash and cash equivalents; no separate securities balance is added
- Receivables + cash / assets: 22.85% — $1,444.558 million of net receivables plus cash
- Disclosed interest income / revenue: 0.68% — $14.060 million over $2,053.623 million of quarterly revenue
- Market-cap denominator methods: Not calculated because a licensed, reproducible historical market-cap series is not stored
The entered financial ratios pass under the examined FTSE Yasaar, MSCI total-assets and Malaysia SAC checks. The overall result remains methodology-dependent because downstream business-activity allocation and purification are not fully disclosed.
Dover's Business Activity
- Engineered Products: Vehicle-service, industrial, aerospace and defense equipment, components, software and services
- Clean Energy & Fueling: Fuel storage, transport, dispensing, monitoring, hydrogen, LNG, EV charging and vehicle-wash equipment
- Imaging & Identification: Marking, coding, traceability and digital-printing technologies
- Pumps & Process Solutions: Pumps, flow meters, connectors, precision components and controls for biopharma, industrial, energy and other applications
- Climate & Sustainability Technologies: Commercial refrigeration, heating and cooling, heat exchangers and beverage equipment
These are generally permissible industrial and infrastructure activities at the business-line level. Dover's reporting does not provide a scholar-specific prohibited-revenue numerator for every customer or end use.
Qualitative Issues to Keep in View
Aerospace-and-defense exposure
Engineered Products serves aerospace-and-defense end markets, but Dover does not separately quantify civilian versus military component revenue in the filing. Investors with a strict defense-avoidance standard should use their own look-through treatment rather than relying on an unsupported “small share” or agency-consensus claim.
Fueling and mixed end markets
Clean Energy & Fueling serves traditional fuels as well as LNG, hydrogen and EV charging. The company makes equipment and software rather than selling fuel, but customer and end-use treatment can differ by scholar and should remain a qualitative review item.
Acquisition debt and cash investments
Dover issued €550 million of 3.50% notes in late 2025 and uses debt for portfolio acquisitions. The current asset-based ratios pass, while the filing also reports interest income from highly liquid short-term investments. Investors should follow their chosen purification practice rather than assuming a fixed percentage.
How to Read the Result
Dover's core industrial activities are generally permissible and the entered financial ratios pass. The result is not an unconditional certification: a market-cap denominator is not calculated here, downstream prohibited revenue is not universally disclosed, and qualified scholars may differ on defense, fueling and purification treatment.
Bottom Line
Dover is currently generally permissible with methodology-dependent caveats. As of March 31, 2026, debt/assets are 24.36%, receivables plus cash/assets are 22.85% and disclosed interest income/revenue is 0.68%. The industrial portfolio passes the examined financial checks, but investors should review the mixed end markets and apply the methodology of a qualified Sharia adviser.
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