Dover Corporation (DOV)
Dover makes diversified industrial equipment spanning pumps, refrigeration, and marking systems.
DOV vs NSC: how the two businesses compare
- Bigger business: NSC, with $12.2B of yearly revenue, about 1.5× DOV's $8.1B.
- More profitable: NSC keeps 24 cents of each sales dollar as profit, against 14 cents at DOV.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Norfolk Southern (NSC) is the larger business by reported revenue: $12.2B in its fiscal year ended Dec 2025, about 1.5× DOV's $8.1B (fiscal year ended Dec 2025). DOV's net margin was 13.5% and NSC's 23.6%. The SEC classifies them differently (Construction, Mining & Materials Handling Machinery & Equip; Railroads, Line-Haul Operating); what connects them is shared exposure to the Economic trends research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Industrials
- Different
- Separate classifications
- December 31
- Same calendar
- Feb 13, 2026
DOV vs NSC: quick comparison
| Company fact | DOV | NSC |
|---|---|---|
| Company | Dover Corporation | Norfolk Southern Corporation |
| Exchange | NYSE | NYSE |
| SEC industry | Construction, Mining & Materials Handling Machinery & Equip | Railroads, Line-Haul Operating |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-13 | 10-K · 2026-02-09 |
DOV vs NSC: audited financials
- Scale: NSC's $12.2B of revenue is about 1.5× DOV's $8.1B.
- Net margin: NSC kept 23.6% of revenue as net income versus 13.5% at DOV.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | DOV | NSC |
|---|---|---|
| Revenue | $8.1B2025-01-01 to 2025-12-31 · SEC filing | $12.2B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $1.1B2025-01-01 to 2025-12-31 · SEC filing | $2.9B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | — | $4.4B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $7.942025-01-01 to 2025-12-31 · SEC filing | $12.752025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 13.5%2025-01-01 to 2025-12-31 · SEC filing | 23.6%2025-01-01 to 2025-12-31 · SEC filing |
DOV: FY ending 2025-12-31 · NSC: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where DOV and NSC overlap, and where they don't
Overlap
- Shared research theme: Economic trends.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Different SEC industries: DOV files as Construction, Mining & Materials Handling Machinery & Equip; NSC as Railroads, Line-Haul Operating.
- Scale: NSC reported about 1.5× the annual revenue of DOV.
- Profitability: net margin of 13.5% for DOV versus 23.6% for NSC.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Norfolk Southern Corporation (NSC)
Norfolk Southern runs a freight railroad serving the eastern United States.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves DOV
We have not yet published a company-specific driver list for DOV. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-13.
What moves NSC
- Freight volumes across intermodal, coal, industrial, and agricultural traffic
- Operating-ratio trajectory and precision-scheduled-railroading efficiency efforts
- Safety and remediation costs stemming from the 2023 East Palestine derailment
- Pricing power relative to long-haul trucking competition
The investment question
You now know NSC reports about 1.5× DOV's revenue, and NSC keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to economic trends, including “Freight volumes across intermodal, coal, industrial, and agricultural traffic” at NSC, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 8 matched transaction rows for DOV and 18 matched transaction rows for NSC. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
DOV primary filings
NSC primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving DOV or NSC
DOV vs NSC FAQs
Are DOV and NSC direct competitors?
Not necessarily. Dover files as Construction, Mining & Materials Handling Machinery & Equip and Norfolk Southern as Railroads, Line-Haul Operating. The pair is compared because both map to the Economic trends research theme, not because the filings show head-to-head competition.
Is DOV or NSC the bigger company by revenue?
Norfolk Southern (NSC) is the larger business by reported revenue: $12.2B in its fiscal year ended Dec 2025, about 1.5× DOV's $8.1B (fiscal year ended Dec 2025). DOV's net margin was 13.5% and NSC's 23.6%. The SEC classifies them differently (Construction, Mining & Materials Handling Machinery & Equip; Railroads, Line-Haul Operating); what connects them is shared exposure to the Economic trends research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, DOV or NSC?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this DOV vs NSC comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Dover Corporation and Norfolk Southern Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
DOV vs NSC compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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