Dover Corporation
DOVDover Corporation's price has outrun its earnings. +8.9% in a year against EPS −59.2% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +8.9% in a year while annual EPS moved −59.2% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is building a base (2 weeks in) while the P/E sits at the 86th percentile of its own 4-year range. Underneath, the last four quarters read mixed — profit +0.0% year on year, and 99% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Dover Corporation trades at $203, building a base and 2 weeks into that stage. That is −1.5% against its own 200-day average. It sits at 58% of a 52-week range of $161 to $233. On relative strength it is currently behind the S&P 500 on a trailing-13-week view (13 weeks and counting).
Today the stock is building a base — week 2 of stage 1. At $203 it trades −1.5% versus its 200-day average and sits at 58% of its 52-week range ($161–$233).
Against the market, two honest reads. Cumulative: over the last 10.1 years the stock moved +189% while the S&P 500 moved +248% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (13 weeks and counting; last ahead the week of 2026-05-01) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 86th percentile of its own range.
Valuation P/E is the price of $1 of annual profit: how many dollars the market pays for each dollar the company earns in a year.
Dover Corporation trades at 24.4× P/E, at the pricey end of its own range (86th percentile). Its long-run median P/E is 17.8×, measured across 4.3 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 24.4× is at the pricey end of its own range (86th percentile), against a long-run median of 17.8× measured over 4.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved −59.2% against a +8.9% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 3y, of the +11.7%/yr price move, ~+3.6%/yr came from earnings growth and ~+8.1 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Improving Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Dover Corporation reads as improving on its fundamental arc. Improving — profit growth bottomed 3 quarters ago at −23.5% and has held its recovery at +4.8%, ROCE holding at 12.9%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +4.4% | +1.1% | — | — |
| Profit | −21.4% | +3.6% | — | — |
| EPS | −59.2% | +4.8% | — | — |
| Stock price | +8.9% | +11.7% | +4.0% | +11.0% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
43.5/100 — rank 20 of 30 in Specialty Industrial Machinery · 59% evidence confidence
Dover Corporation scores 43.5 out of 100 against the 30 companies it is compared with in Specialty Industrial Machinery, ranking 20. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
The four contributions add to the total exactly: 16.6 + 13.3 + 10.4 + 3.2 = 43.5. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Dover Corporation reported $2.0 B of revenue in the Mar 26 quarter, +9.6% year on year. That is the 4th straight quarter of year-on-year growth. Over 4 years it has compounded at 0.6% a year. The last full year, FY25, came in at $8.1 B. The last four reported quarters add to $8.3 B.
Dover Corporation reported $2.0 B of revenue in the Mar 26 quarter, +9.6% year on year. That is the 4th straight quarter of year-on-year growth. Over 4 years it has compounded at 0.6% a year. The last full year, FY25, came in at $8.1 B. The last four reported quarters add to $8.3 B.
FY25 revenue came in at $8.1 B (+4.4% on the year), capping 4 years at 0.6% compound. The latest quarter (Mar 26) printed $2.0 B, +9.6% year on year — the 4th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +7.2% growth against the decade's 0.6% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +7.1% over the last 4 quarters against +2.8%/yr over the last 8 — accelerating; TTM profit +4.8% vs −10.5%/yr — accelerating.
→ Revenue grew — did margins hold as it scaled? Next: 15.1% this quarter (−0.9 pp YoY).
Operating margin Operating margin is what is left of every $100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Dover Corporation's operating margin is 15.1% in the Mar 26 quarter, −0.9 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 5 fiscal years the operating margin has ranged 15.6% to 16.9%. The current quarter is running below every full year in that window.
Dover Corporation's operating margin is 15.1% in the Mar 26 quarter, −0.9 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 5 fiscal years the operating margin has ranged 15.6% to 16.9%. The current quarter is running below every full year in that window.
The latest quarter's operating margin is 15.1%, −0.9 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 15.6%–16.9%, and FY25's 16.9% is the top of that band — a record year.
🚨 Why the margin moved: operating margin went −0.9 pp year on year while gross margin went −1.1 pp — the loss came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
→ Margins slipped — did that reach the bottom line? Next: profit +0.0% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Dover Corporation earned $0.2 B of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY25 profit was $1.1 B. The 4-year compound rate is −0.4%. That is 11.7% of the quarter's revenue. The same quarter a year earlier earned $0.2 B.
Dover Corporation earned $0.2 B of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY25 profit was $1.1 B. The 4-year compound rate is −0.4%. That is 11.7% of the quarter's revenue. The same quarter a year earlier earned $0.2 B.
Mar 26 profit was $0.2 B, +0.0% year on year. On the full year, FY25 printed $1.1 B (−21.4%), and the 4-year compound rate is −0.4%.
🚨 Why profit moved: revenue contributed +9.6% and the margin −0.9 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +5.3% vs revenue +7.2%. Profit and revenue are moving roughly in step.
→ Profit rose — but did the cash follow? Next: 99% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 99% of Dover Corporation's reported profit arrived as operating cash — the cash follows the profit. In FY25 that was $1.3 B of operating cash against $1.1 B of profit. After $0.2 B of capital spending, $1.1 B was left as free cash.
FY25: operating cash of $1.3 B against reported profit of $1.1 B, leaving free cash of $1.1 B after $0.2 B of capital spending. Across the last 3 fiscal years the conversion rate is 99% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why: conversion is measured cleanly, but the working-capital day-counts behind it sit below what we hold — the move is shown without inventing its driver.
Router verdict: the visible cash user is investment — the next section checks what the spending is buying.
→ So follow the cash to where it goes. Next: $1.0 B of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Dover Corporation does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Capital spending ran $1.0 B over the last 3 years. Averaged over those years that is 4.1% of FY25 revenue a year.
Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.
On the investment side: capital spending of $1.0 B over the last 3 fiscal years.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROE is 15% and the ROIC − WACC spread is +3.4 pp.
Return on equity Return on equity (ROE) is the profit the business earns on its shareholders’ money. With the full capital-employed split not in our numbers, ROE is the cleanest long ladder we can draw here.
Dover Corporation earns a ROE of 15% in FY25. Return on invested capital clears the cost of that capital by +3.4 percentage points, so growth here adds value rather than only size. The wiring behind it is 13.6% net margin on 0.60× asset turns.
FY25 ROE is 15%.
Why the return is what it is — the wiring (FY25): 13.6% net margin × 0.60× asset turns × 1.81× balance-sheet leverage ≈ 14.8% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 13.2% − 9.8% = a +3.4 pp spread. The 9.8% is an estimate of this company's own cost of capital — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.42.
Dividend A dividend is cash paid out per share. Dividend per share is the declared amount for the period; the trailing twelve-month total is the four most recent quarters added together.
Dover Corporation paid $2.08 per share over the last four reported quarters, up 1.0% on a year ago. The most recent declaration was $0.52 for Mar 26. Against the current price of $203 that is a trailing yield of 1.02%, measured on dividends already paid rather than on a forecast.
Dover Corporation paid $2.08 per share over the last four reported quarters, up 1.0% on a year ago. The most recent declaration was $0.52 for Mar 26. Against the current price of $203 that is a trailing yield of 1.02%, measured on dividends already paid rather than on a forecast.
Dover Corporation paid $2.08 per share across the last four reported quarters, most recently $0.52 for Mar 26. That is up 1.0% against the same quarter a year earlier. Against the current price of $203 the trailing twelve months work out to 1.02% — trailing dividends measured against today's price, not a forward estimate.
→ A payout is cash leaving the business. Next: what the balance sheet looks like behind it.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Dover Corporation carries total debt of $3.3 B against shareholder equity of $7.7 B as of Jun 26, a debt-to-equity of 0.42. On the annual view that ratio went from 0.74 in FY21 to 0.45 in FY25. Read the returns elsewhere on this page with that leverage in mind.
Jun 26: total debt of $3.3 B against shareholder equity of $7.7 B — a debt-to-equity of 0.42. On the annual view, debt-to-equity went from 0.74 (FY21) to 0.45 (FY25). Read the returns on this page with that leverage in mind.
→ Who owns this, and are they adding or leaving? Next: short interest is 2.5% of the float.
Ownership There is no quarter-by-quarter holder register to read here, so we read the crowd through short interest — the slice of tradable shares currently sold short, positioned for a fall.
2.5% of Dover Corporation's tradable float is currently sold short — some money is positioned against it. At typical trading volumes those positions would take about 2.9 days to buy back. There is no quarter-by-quarter holder register to read for this filer, so the crowd is read through short interest instead.
The latest reading: 2.5% of the float is sold short, and at typical trading volumes it would take about 2.9 days to buy those positions back. Some money is positioned against it. This is a single point-in-time reading — we do not yet hold its history, so we show no trend chart.
Why it sits there: who is doing the shorting, and why, does not travel with the number — the level is shown without inventing its story.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Dover Corporation: the Z-score reads 5.39. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.
Why it matters: a Z-score of 5.39 sits well clear of the distress zone — the balance sheet is not the risk here.
The safety line in one sentence: the Z-score reads 5.39.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Dover Corporation this page | 24.4× | $27B | Improving | |||
| GE Vernova Inc. | 27.0× | $251B | No read | |||
| Eaton Corporation plc | 37.8× | $150B | Consistent | |||
| Parker-Hannifin Corporation | 36.6× | $125B | Mixed | |||
| Cummins Inc. | 34.4× | $89B | Topping out | |||
| Emerson Electric Co. | 35.1× | $85B | Improving | |||
| Illinois Tool Works Inc. | 25.8× | $85B | Deteriorating | |||
| AMETEK, Inc. | 36.5× | $55B | Mixed | |||
| Rockwell Automation, Inc. | 48.9× | $52B | Improving | |||
| Ingersoll Rand Inc. | 58.6× | $34B | Deteriorating | |||
| Xylem Inc. | 29.7× | $30B | Mixed | |||
| Otis Worldwide Corporation | 18.9× | $28B | Deteriorating | |||
| Symbotic Inc. | — | $26B | No read | |||
| ITT Inc. | 35.4× | $18B | Deteriorating | |||
| Nordson Corporation | 32.3× | $17B | Turning around | |||
| IDEX Corporation | 33.2× | $17B | Turning around | |||
| Regal Rexnord Corporation | 47.2× | $14B | Improving | |||
| Graco Inc. | 25.9× | $13B | Mixed | |||
| Crane Company | 41.5× | $13B | Topping out | |||
| Watts Water Technologies, Inc. | 31.7× | $12B | Consistent | |||
| Generac Holdings Inc. | 61.1× | $12B | Deteriorating | |||
| Donaldson Company, Inc. | 25.7× | $11B | Turning around | |||
| Pentair plc | 16.8× | $11B | Mixed | |||
| Chart Industries, Inc. | — | $10B | Deteriorating | |||
| Flowserve Corporation | 27.0× | $9B | Consistent | |||
| A. O. Smith Corporation | 17.1× | $9B | Mixed | |||
| JBT Marel Corporation | 45.4× | $8B | Deteriorating | |||
| Gates Industrial Corporation plc | 27.8× | $7B | Improving | |||
| Enpro Inc. | 152.7× | $7B | Deteriorating | |||
| The Middleby Corporation | 18.5× | $6B | Deteriorating | |||
| CSW Industrials, Inc. | 44.6× | $5B | Deteriorating | |||
| Franklin Electric Co., Inc. | 31.6× | $5B | Deteriorating | |||
| Mirion Technologies, Inc. | 189.9× | $4B | No read | |||
| Mueller Water Products, Inc. | 19.6× | $4B | Mixed | |||
| Kadant Inc. | 35.9× | $4B | Turning around | |||
| Standex International Corporation | 35.8× | $4B | Turning around | |||
| Crane NXT, Co. | 24.5× | $3B | Deteriorating | |||
| NuScale Power Corporation | — | $3B | No read | |||
| ERock, Inc. | — | $3B | — | — | — | — |
| ATS Corporation | 51.6× | $3B | Deteriorating |
Frequently asked questions
What is Dover Corporation's stock price today?
Dover Corporation trades at $203, +8.9% over the past year. The company is valued at $27.0 B. The stock sits at 58% of its 52-week range of $161–$233, −1.5% versus its 200-day average. On the tape, the price is building a base, 2 weeks in. — as of 29 July 2026.
What were Dover Corporation's latest quarterly results?
Dover Corporation reported revenue of $2.0 B and net profit of $0.2 B for the Mar 26 quarter. Revenue rose 9.6% and profit rose 0.0% year on year. Earnings per share were $1.75. The operating margin was 15.1%, 0.9 pp lower than a year earlier. — as of 29 July 2026.
What is Dover Corporation's revenue?
Dover Corporation reported revenue of $2.0 B in the Mar 26 quarter, +9.6% year on year. For the full FY25 fiscal year, revenue was $8.1 B (+4.4%). Over the last 4 years revenue compounded at 0.6% a year. — as of 29 July 2026.
What is Dover Corporation's profit?
Dover Corporation earned $0.2 B of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY25 profit was $1.1 B. The operating margin ran 15.1% in the latest quarter. — as of 29 July 2026.
What is Dover Corporation's market cap?
Dover Corporation's market capitalisation is $27.0 B at a stock price of $203. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 29 July 2026.
What is Dover Corporation's P/E ratio?
Dover Corporation trades at a P/E of 24.4×, at the 86th percentile of its own 4-year range, against a long-run median of 17.8×. This is a comparison with the stock's own history, not a value call — as of 29 July 2026.
Does Dover Corporation pay a dividend?
Yes — Dover Corporation declared $0.52 per share for Mar 26, and $2.08 per share across the last four reported quarters. The latest quarter is up 1.0% on the same quarter a year earlier. — as of 29 July 2026.
What is Dover Corporation's dividend per share?
Dover Corporation's most recently declared dividend is $0.52 per share for Mar 26, giving $2.08 per share over the trailing twelve months. Each figure is the amount declared for that quarter as reported, added across four quarters for the trailing total. — as of 29 July 2026.
What is Dover Corporation's dividend yield?
Dover Corporation's trailing dividend yield is 1.02%: $2.08 declared per share across the last four reported quarters, against a share price of $203. Each quarter’s figure is the amount declared for that quarter as reported, added across four quarters and divided by the latest close. — as of 29 July 2026.
Is Dover Corporation overvalued?
On its own history, Dover Corporation looks expensive against its own history: its P/E of 24.4× sits at the 86th percentile of its 4-year range (long-run median 17.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 29 July 2026.
Is Dover Corporation growing?
The picture is mixed for Dover Corporation: latest-quarter revenue +9.6% year on year, profit +0.0%, and the margin −0.9 pp at 15.1%. The 4-year compound rates are 0.6% (revenue) and −0.4% (profit). The earnings engine currently reads: mixed — as of 29 July 2026.
How is Dover Corporation performing?
Dover Corporation is building a base, 2 weeks in. Its latest quarter's revenue rose 9.6% and profit rose 0.0% year on year. Against the S&P 500 it has been behind on a trailing-13-week view for 13 weeks. This describes what the data did, not a rating. — as of 29 July 2026.
What stage is Dover Corporation in?
Improving — profit growth bottomed 3 quarters ago at −23.5% and has held its recovery at +4.8%, ROCE holding at 12.9%. The read comes from the last 12 quarters of growth (revenue growth +7.1% latest, profit growth +4.8% latest, eps growth −51.7% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 29 July 2026.
Is Dover Corporation in an uptrend?
No — the price is building a base (week 2 of stage 1), trading −1.5% versus its 200-day average and at 58% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 29 July 2026.
Is Dover Corporation beating the market?
Not lately — on a trailing-13-week view Dover Corporation is currently behind the S&P 500 (13 weeks and counting; last ahead the week of 2026-05-01), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.1 years the stock moved +189% against the S&P 500's +248% — behind the index over the full window. — as of 29 July 2026.
Will Dover Corporation's stock price go up?
This page publishes no price forecast for Dover Corporation. What it measures instead: the stock price is $203, the price is building a base 2 weeks in. Its P/E of 24.4× sits at the 86th percentile of its own 4-year range. Direction is not something this site claims to know. — as of 29 July 2026.
Is the market betting against Dover Corporation?
Somewhat — short interest is 2.5% of Dover Corporation's tradable float, about 2.9 days to cover at typical volumes. A moderate reading: some money is positioned against it. With no quarter-by-quarter holder register here, short interest is the cleanest crowd read we hold — as of 29 July 2026.
Does Dover Corporation have too much debt?
It is moderate — Dover Corporation's debt-to-equity is 0.42. A year-by-year borrowings ladder is not in our numbers for this stock, so the latest reading is the cleanest hold. Read the returns on this page with that leverage in mind — as of 29 July 2026.
What is Dover Corporation's capex?
Dover Corporation spent $1.0 B on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was $0.2 B. — as of 29 July 2026.
What is Dover Corporation's cash flow?
Dover Corporation generated $1.3 B of operating cash flow in FY25 and $1.1 B of free cash flow after $0.2 B of capital spending. Reported profit that year was $1.1 B, so operating cash ran ahead of profit. — as of 29 July 2026.
Is Dover Corporation's profit real cash?
Yes — over the last 3 fiscal years, 99% of Dover Corporation's reported profit arrived as operating cash. In FY25, operating cash was $1.3 B against reported profit of $1.1 B. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 29 July 2026.
How financially safe is Dover Corporation?
On the balance sheet, the Z-score reads 5.39 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That sits well clear of trouble. — as of 29 July 2026.
Where is Dover Corporation in its business cycle?
Dover Corporation's FY25 operating margin was 16.9%, against a 5-year band of 15.6%–16.9%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 15.1%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 29 July 2026.
What could break the Dover Corporation story?
The sharpest disagreement: the price moved +8.9% in a year while annual EPS moved −59.2% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 29 July 2026.
Is Dover Corporation a stock worth studying right now?
This is not investment advice. The machine read: Dover Corporation's price has outrun its earnings. +8.9% in a year against EPS −59.2% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 29 July 2026.