Dow is one of the largest plastics and chemicals producers in the world, ranking in the top five for upstream plastics production, such as polyethylene, or PE, and polypropylene, or PP.
It is a $20.6B materials company. Revenue shrank 1.2% over the last year, it currently loses money, and its net debt equals ~5.2 years of free cash flow.
- Website
- dow.com
- Location
- Midland, MI
- Employees
- 34 600
- Sector
- Basic Materials
- Founded
- 1966
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Growth, Profitability, Health and Moat lag behind.
Valuation50
- P/E vs own history88th pct · 0/25
- FCF yield13.3% · 25/25
- P/S0.5x · 25/25
- EV/EBITDA1645.3x · 0/25
Growth0
- Revenue CAGR-7.7% · 0/25
- Net income CAGRn/a · 0/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growth-45.3% · 0/25
Profitability0
- ROIC-6.4% · 0/25
- ROE-8.0% · 0/25
- Net margin-3.1% · 0/25
- Operating margin-0.6% · 0/25
Health30
- Altman Zn/a · 0/25
- Current ratio1.75 · 18/25
- Interest coverage-1.7x · 0/25
- Net cash / debtD/A 24% · 12/25
Quality50
- Piotroski F3/9 · 5/25
- Beneish M-2.35 · 20/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 4.7% · 25/25
Moat0
- ROIC >12% years2/7 yrs · 0/25
- Median gross margin13.5% · 0/25
- FCF-positive yearsn/a · 0/25
- Worst-year net marginworst -6.6% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2021FinancialRevenue crossed $50B$55.0B for the year
- FY2021FinancialBest year on record$6.31B net income
- FY2020FinancialTurned profitable$1.23B net income after a loss year
- FY2019FinancialRevenue already above $10B$43.0B in first reported year
- FY2019FinancialPositive free cash flow every year since7-year streak
- 2019MilestoneThe spin-off was completed on 1 April 2019, at which time Dow Inc
- 2017MilestoneThe plan commenced in 2017, when Dow and DuPont merged to form DowDuPont
- 2017AcquisitionThe merger was pushed back a second time pending regulatory approvals
- 2015AcquisitionDow and fellow chemical company DuPont agreed to a corporate reorganization involving the merger of Dow and…
- 2013ProductA federal court rejected two tax shelter transactions entered into by Dow that created…
- 2009AcquisitionAfter negotiating the sale of preferred stock with Rohm and Hass' two largest stockholders and extending their…
- 2009MilestoneThe two cases against Dole and Dow were thrown out by a judge in Los Angeles due to fraud and…
- 2001AcquisitionDow Chemical acquired Union Carbide in 2001
- 1966FoundedDow Europe, Dow Latin America and Dow Pacific were established in 1966.Technology centers were also established for…
- 1949MilestoneWhen Leland Doan became president of Dow in 1949, the world was evolving rapidly
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
No standout strengths in the available data.
Watch-outs
- Revenue shrinking 1.2% year over year
- Not profitable — 3.1% net margin
- Thin interest coverage (-1.7×)
- Loss-making in 2 of the recent years
- Net debt equals ~5.2 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago-1.2% YoY
- Profitable — makes more than it spends-$1.29B TTM
- Profit growing — earnings are higher than last year-335.0% YoY
- Generates cash — cash left after running and investing$2.74B TTM
- Debt under control — could handle its obligations~5.2y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$20.6B market cap
- Not printing shares — share count not ballooning — you keep your slice-4.1% shares over ~5y
- Proven track record — years of profitability behind it5/7 profitable years
- Financially stable — balance sheet not near distresshealth score 28/100
- Pays a dividend — returns cash to shareholdersyield 4.90%
- Valuation not extreme — price not wildly above earningsP/E 8.2
Peer comparisonDow Inc. vs 6 largest basic materials peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| DOW this company | $20.6B | 8.2 | -1.2% | -3.1% | Strained |
| LIN Linde plc Ordinary Share | $223.2B | 30.8 | +6.6% | 20.4% | Solid |
| SCCO Southern Copper Corporation | $176.8B | 31.2 | +32.8% | 35.9% | Strong |
| NEM Newmont Corporation | $124.2B | 14.4 | +25.2% | 33.4% | Strong |
| FCX Freeport-McMoran Inc. | $105.8B | 35.9 | +0.2% | 11.4% | Strong |
| AEM Agnico Eagle Mines Ltd. | $95.8B | 15.9 | +43.7% | 37.5% | Strong |
| B Barrick Mining Corporation | $67.5B | 10.1 | +9.2% | 31.6% | Strong |
Head-to-head: DOW vs LIN · DOW vs SCCO · DOW vs NEM
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2019–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/DOW
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of DOW on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $28.48 · market cap $20.6B.