DOLEDole plc
Is the business good?
The checks split: earnings fully cash-backed (2.0×), but margins compressing.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Operating profit is falling even as sales grow, costs are outrunning the top line.
A balanced mix of margins, efficiency, and leverage. ROE 3% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is DOLE?
Dole plc earns 6.2% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 2.8 points below what the capital costs: growth destroys value
- Operating margin
- 1.7%
Operating margin · Farm Products median 1.7% · 12 months to Q2 2026
- Cash conversion
- 1.97×
Cash conversion · 1.15× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −0.15%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 1.5% |
| FY2021 | −0.15% |
| FY2022 | 2.2% |
| FY2023 | 3.3% |
| FY2024 | 3.3% |
| FY2025 | 2.4% |
Details›
- Gross margin12 months to Q2 2026
- 7.3%
- Operating margin12 months to Q2 2026
- 1.7%
- Net margin12 months to Q2 2026
- 0.63%
- Free cash flow margin
- 0.88%
- Revenue, trailing twelve months
- $9.49B
- Free cash flow, trailing twelve months
- $83M
- Net income, trailing twelve months
- $60M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 6.2%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.