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Dow Inc.

DOW Basic Materials Chemicals

Dow Inc.’s revenue for fiscal 2025 (year ended December 2025) was $40.0 billion, down 6.97% from fiscal 2024. In the quarter to June 2026, revenue grew 19.7%, EPS grew 183.9%, free cash flow grew 169.7% and total debt rose 7.57%, each against the same quarter a year earlier. Member of the S&P 500.

28.42 0.17 −0.59%
Market cap
$20.7B
P/E
0.0×
Fwd P/E
13.4×
Dividend yield
4.93%
F-score
3/9
Altman Z
1.41
Beneish M
−2.43
Dividend safety
0/100

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.42%

Capital & Financial Ratios $m

Market Cap 20,650.00
Revenue 41,319.00
Net Income (996.00)
Free Cash Flow 1,676.00
Net Debt 13,936.00
Current Ratio 1.75 (at or above 1.5: strong)
Debt/Equity 1.03
P/E ratio 0.00
Fwd P/E 13.40
P/S ratio 0.50
P/B ratio 1.18
Past 5Y EPS Growth —
This Y EPS Growth 353.45% (at or above 15%: strong)
Next Y EPS Growth (33.76%) (below 0%: weak)
Next Y revenue growth 9.23%
Next 5Y EPS Growth (26.34%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 11.64%
10-year low 10-year high
P/B against its own 10 years 12.89%
10-year low 10-year high
EV/Sales against its own 10 years 17.16%
10-year low 10-year high
EV/FCF against its own 10 years 72.59%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate 1.40
Annual Dividend Yield 4.93%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.39
0.35
0.35
0.35
2025 2.10
0.70
0.70
0.35
0.35
2024 2.80
0.70
0.70
0.70
0.70
2023 2.80
0.70
0.70
0.70
0.70
2022 2.80
0.70
0.70
0.70
0.70
2021 2.80
0.70
0.70
0.70
0.70
2020 2.80
0.70
0.70
0.70
0.70
2019 2.10
0.70
0.70
0.70
2017 1.38
0.46
0.46
0.46
2016 1.84
0.46
0.46
0.46
0.46
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,987 2,189 3,816 3,973
Receivables 6,614 6,864 6,638 8,479
Inventory 6,076 6,544 6,595 7,233
Other 1,937 993 1,013 1,186
17,614 16,590 18,062 20,871
2023 2024 2025 Q'26
Payables 6,326 6,541 5,545 7,007
ST’ Debt 117 497 222 758
Other — — — —
9,957 10,288 9,183 11,931

Compound Annual Growth %

10y 5y 3y
Sales — 0.73% (11.11%)
Cash Flow — (30.19%) (48.32%)
Earnings — 0.00% 0.00%
Book Value — 6.14% (6.22%)

Revenue $m

Mar Jun Sep Dec Year
’26 9,794 12,092 — — —
’25 10,431 10,104 9,973 9,460 39,968
’24 10,765 10,915 10,879 10,405 42,964
’23 11,851 11,420 10,730 10,621 44,622
’22 15,264 15,664 14,115 11,859 56,902
’21 11,882 13,885 14,837 14,364 54,968
’20 9,770 8,354 9,712 10,706 38,542
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,124 1,331 — — —
’25 91 (470) 1,127 284 1,032
’24 464 836 800 814 2,914
’23 535 1,361 1,644 1,656 5,196
’22 1,603 1,890 1,904 2,078 7,475
’21 (291) 2,004 2,721 2,575 7,009
’20 1,239 1,590 1,767 1,630 6,226
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 647 726 — — —
’25 (621) (1,042) 657 (354) (1,360)
’24 (300) 75 31 199 5
’23 95 732 1,001 885 2,713
’22 1,253 1,390 1,407 1,437 5,487
’21 (582) 1,656 2,291 1,425 4,790
’20 850 1,318 1,759 1,966 5,893
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.74) 0.99 — — —
’25 (0.44) (1.18) 0.08 (2.15) (3.70)
’24 0.73 0.62 0.30 (0.08) 1.57
’23 (0.13) 0.68 0.42 (0.15) 0.82
’22 2.11 2.26 1.02 0.85 6.28
’21 1.32 2.51 2.23 2.32 8.38
’20 0.32 (0.31) (0.04) 1.65 1.64
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — 40.44 21.95 51.33 42.91 47.26 38.85 20.40

Analyst estimates 2026–2028

Powerpack
High — — — 60.52 58.18 71.38 71.86 60.88 60.69 42.17
People
People Employees — — — 36,500 35,700 35,700 37,800 35,900 36,000 34,600
Revenue/emp, $m 0.00 0.00 0.00 1.18 1.08 1.54 1.51 1.24 1.19 1.16
Income, $m
Income, $m Revenue 48,158 43,730 49,604 42,951 38,542 54,968 56,902 44,622 42,964 39,968
Gross margin, % 21.78 16.88 17.20 14.65 13.48 19.61 15.05 10.94 10.72 6.34
EBT 4,413 237 3,749 (1,247) 2,071 8,145 6,090 656 1,600 (2,511)
EBT margin, % 9.16 0.54 7.56 (2.90) 5.37 14.82 10.70 1.47 3.72 (6.28)
Net income 4,404 595 4,775 (1,272) 1,294 6,405 4,640 660 1,201 (2,444)
Depreciation 2,862 2,546 2,909 2,938 2,874 2,842 2,758 2,611 2,894 2,834
Per share, $
Per share, $ Revenue 0.00 58.71 66.39 57.85 52.05 73.92 78.92 63.23 61.05 56.17
Earnings — 0.80 6.39 (1.84) 1.64 8.44 6.36 0.82 1.57 (3.70)
Cash flow 0.00 (6.62) 5.69 7.99 8.41 9.43 10.37 7.36 4.14 1.45
Capex 0.00 (3.48) (2.92) (2.64) (0.45) (2.98) (2.76) (3.52) (4.13) (3.36)
Free cash flow 0.00 (10.10) 2.77 5.34 7.96 6.44 7.61 3.84 0.01 (1.91)
Book value 0.00 36.26 45.00 18.98 17.56 25.20 29.47 27.08 25.36 24.62
Shares, m — 745 747 743 741 744 721 706 704 712
Valuation, ×
Valuation, × P/E 8.02 8.02 8.02 0.00 34.05 6.72 8.11 66.66 25.56 0.00
P/S 0.00 0.00 0.00 0.95 1.07 0.77 0.65 0.88 0.66 0.42
P/B 1.11 1.11 1.11 2.88 3.16 2.25 1.73 2.04 1.58 0.95
EV/Sales 0.00 0.00 0.00 1.27 1.37 0.98 0.84 1.14 0.98 0.77
EV/FCF (10.14) (10.14) (10.14) 13.78 8.98 11.21 8.74 18.83 8,452.50 (22.71)
Cash, $m
Cash, $m Operating cash flow (2,957) (4,929) 4,254 5,930 6,226 7,009 7,475 5,196 2,914 1,032
Capex (3,820) (2,593) (2,184) (1,962) (333) (2,219) (1,988) (2,483) (2,909) (2,392)
Free cash flow (6,777) (7,522) 2,070 3,968 5,893 4,790 5,487 2,713 5 (1,360)
Balance, $m
Balance, $m Working capital — 12,867 23,823 6,136 7,976 7,622 9,146 7,657 6,302 8,879
Total debt — 20,517 19,591 16,410 16,951 14,511 15,060 15,024 16,208 18,071
Net debt — 14,325 16,767 14,043 11,847 11,523 11,174 12,037 14,019 14,255
Shareholders’ equity — 27,009 33,621 14,094 13,005 18,739 21,247 19,108 17,851 17,522
Returns, %
Returns, % ROA 10.80 1.16 5.67 (1.88) 1.99 10.09 7.38 0.99 1.94 (4.53)
ROIC 0.00 1.28 5.06 (1.69) 4.05 16.28 10.76 3.15 3.53 (3.34)
ROE 0.00 1.56 15.31 (5.70) 8.97 39.56 22.80 2.92 6.04 (14.83)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Dow Inc. vs peers in Chemicals (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DOW Dow Inc. $20.7B — (loss-making) 13.4× +19.68% (above 0%: growing) n/m +169.67% (above 0%: growing) 17.92% 7.29%
CE Celanese Corporation $4.9B — (loss-making) 9.6× +8.69% (above 0%: growing) −37.36% (below 0%: shrinking) −53.63% (below 0%: shrinking) 22.46% 10.03% Compare
OLN Olin Corporation $1.8B — (loss-making) — (loss-making) −0.93% (below 0%: shrinking) n/m −111.64% (below 0%: shrinking) 9.77% 2.67% Compare
HUN Huntsman Corporation $1.5B — (loss-making) — (loss-making) +14.06% (above 0%: growing) n/m −266.67% (below 0%: shrinking) 14.73% 2.22% Compare
REX REX American Resources Corporation $1.5B 11.5× 13.7× +17.87% (above 0%: growing) +393.02% (above 0%: growing) +392.23% (above 0%: growing) 28.52% 20.16% Compare
GPRE Green Plains, Inc. $1.1B 8.0× 8.2× −19.28% (below 0%: shrinking) n/m +57.21% (above 0%: growing) 25.33% 15.21% Compare
WLKP Westlake Chemical Partners LP $754.6M 13.0× 12.3× −0.01% (below 0%: shrinking) −2.44% (below 0%: shrinking) +866.65% (above 0%: growing) 31.91% 29.39% Compare
LXU Lsb Industries Inc. $729.3M 19.6× 12.8× +11.10% (above 0%: growing) n/m +9,653.02% (above 0%: growing) 6.82% (1.63%) Compare
TROX Tronox Holdings PLC $603.7M — (loss-making) — (loss-making) +18.74% (above 0%: growing) n/m +241.51% (above 0%: growing) 6.34% (2.42%) Compare
Median of peers $1.3B 12.2× 12.3× +9.90% −2.44% +149.36% 18.60% 6.35%

All 17 Chemicals stocks →

DOW metrics, ten years each

Dow Inc. (DOW) key facts

  • Concern: Dow Inc.’s revenue for fiscal 2025 (year ended December 2025) was $40.0 billion, down 6.97% from fiscal 2024.
  • Dow Inc. (DOW) is a Chemicals company in the Basic Materials sector, listed on the New York Stock Exchange.
  • As of October 9, 2026, DOW traded at $28.42, a market capitalization of $20.7 billion.
  • Dow Inc. pays an annual dividend of $1.40 per share, a yield of 4.93%.
  • Return on equity was −14.8% and debt-to-equity 1.03.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 1.41 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Dow Inc. (DOW) Latest News

31 Aug

Impact 2 ·
stockrow.com/DOW · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com