Loading…
Dow Inc.
NYSE: DOW Materials Chemicals 🔎 Screen
S&P 500
$20.7B
Market Cap
25.6
P/E
290.28
PEG
-0.2%
ROCE
-13.8%
ROE
1.12
D/E
-0.2%
OPM
-29.5%
% from 52W High
64
α RS
⚖️ Compare 🔒 Generate Report 🔒 Research Packet 📚 Guides
🌏 Global Investor Returns
Currency-adjusted total returns for DOW including FX impact
🌏
Click 🌏 Returns tab to load data
📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Dow Inc., through its subsidiaries, provides various materials science solutions for packaging, infrastructure, mobility, and consumer applications in the United States, Canada, Europe, the Middle East, Africa, India, the Asia Pacific, and Latin America. The company operates through Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings segments. The Packaging & Specialty Plastics segment provides ethylene, propylene, polyethylene, and aromatics products; and other ethylene derivatives, such as polyolefin elastomers, ethylene vinyl acetate, and ethylene propylene diene monomer rubber. The Industrial Intermediates & Infrastructure segment offers polyurethanes, including propylene oxide, propylene glycol, and polyether polyols; aromatic isocyanates and fully formulated polyurethane systems; and chlor-alkali and vinyl comprising chlorine and caustic soda, ethylene dichloride, and vinyl chloride monomer; and construction chemicals consisting of cellulose ethers, redispersible latex powders, and acrylic emulsions, as well as coatings, adhesives, sealants, elastomers, and composites. The Performance Materials & Coatings segment provides architectural paints and coatings, and industrial coatings; and acrylics-based building blocks, silicon metals, siloxanes, and intermediates. The company also engages in the property and casualty insurance, as well as reinsurance business. The company was founded in 1897 and is headquartered in Midland, Michigan.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
Loading…
🔒
Premium Feature
AI-generated 10-section company profile — business model, financials, strengths, risks & management quality
Upgrade to Premium
Already a member? Log in
📐
3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
Open Model →
🎙 Management Tone Confident Specific ↑ Improving 5 quarters Full tone analysis in Intelligence →
Good quarter Investor Presentation One-Pager? Q2 2026
Net Sales
$12.1B
+20% YoY
Operating EBIT
$1.6B
+$1.7B YoY
Operating EBIT Margin
13.6%
+13.8pp YoY
GAAP Net Income
$802M
+$1.6B YoY
What Went Right
  • Operating EBITDA surged to $2.3B from $703M, with local price up 20% and polyethylene prices up more than 40%.
  • Self-help delivered over $300M in Q2; 2026 target raised to more than $1.3B, with Transform to Outperform now expected to deliver ~$700M this year.
  • Packaging & Specialty Plastics EBIT jumped to $1.3B from $71M and II&I swung to $246M from -$185M.
What to Watch
  • Q3 EBITDA guided to ~$1.7B, down from $2.3B, reflecting the June North American polyethylene price settlement and normal post-seasonal demand declines.
  • Middle East conflict and Strait of Hormuz disruptions keep logistics constrained; European structural costs and weak regional demand persist.
  • Packaging & Specialty Plastics volumes fell 4% YoY and Performance Materials & Coatings EBIT declined to $133M on higher maintenance and the Barry shutdown.
Management Guidance
  • Q3 EBITDA of approximately $1.7 billion, with $130 million of sequential self-help tailwinds.
  • Q3 assumes a $0.10/lb decline in global integrated polyethylene margins, including the June settlement, with no further price movement assumed.
  • Full-year self-help benefits raised to more than $1.3 billion; Transform to Outperform targeted at ~$700 million this year and $2 billion by 2028.
  • H2 working capital release expected to be at least $500 million; excess cash prioritized to deleveraging, with no share buybacks planned in 2026.
Investor Lens
The thesis is stronger after this call: Q2 EBITDA of $2.3B came in above the updated company guide, and management raised its 2026 self-help target by $200M while keeping balance-sheet discipline ($14B liquidity, no substantive maturities until 2029). The 13.6% EBIT margin and polyethylene pricing leadership show cyclical recovery is gaining traction. Still, Q3 guidance of $1.7B EBITDA and continued Middle East supply-chain risk mean durability depends on pricing holding and self-help execution.
From investor presentation · AI-generated analysis · Not investment advice
🔒
Premium Feature
Investor Presentation One-Pager — quarterly highlights, what went right/wrong & management guidance
Upgrade to Premium
Already a member? Log in
📈 STRONG Q2 EBITDA $2.3B surges, but Q3 guided down to $1.7B
Revenue
Net sales rose 20% YoY to $12.1B on 20% higher local price, with volume down 1%. Packaging & Specialty Plastics led (+27% to $6.4B), followed by II&I (+14% to $3.2B) and Performance Materials & Coatings (+11%).
Profitability
GAAP net income was $802M versus a -$801M loss in 2Q25, with operating EPS of $1.44 versus -$0.42. Operating EBIT improved by $1.7B to $1.6B, and operating EBITDA rose to $2.3B from $703M.
Margins
Operating EBIT margin climbed to roughly 13.6% from -0.2% a year ago. Polyethylene local price increased over 40%, driving margin expansion, and self-help actions contributed more than $300M in the quarter.
Balance Sheet
Operating cash flow from continuing operations was $1.3B in Q2. Dow maintained ~$14B liquidity, extended its revolver to 2031, and noted no substantive debt maturities until 2029; it also expects H2 working capital release of at least $500M.
Key Risks
Q3 carries margin pressure from the June PE price settlement and seasonal demand declines, Middle East/Strait of Hormuz disruptions continue to threaten logistics, and volumes remain soft in Europe/Asia with higher planned maintenance costs.
Outlook
Dow guides Q3 EBITDA to roughly $1.7B, with $130M of sequential self-help benefits. It raised 2026 self-help to over $1.3B and remains on track for Transform to Outperform to deliver $2B by 2028.
Generated by AI · Q2 2026 results · Not investment advice
🔒
Free Account Required

Create a free Finmagine account to access Finmagine™ Scorecard.

See how this company scores across 5 dimensions — Financial Health, Growth Prospects, Competitive Position, Management Quality, and Valuation — powered by 30+ computed ratios.

Create Free AccountLog In
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Ask AI.

Get 25 expert AI analysis templates — Business KPIs, Comprehensive, Forensic Governance, Peer Comparison, Risk-Reward, Full Research Report, IPO Decoder, Red Flag Detector, and more — ready to paste into ChatGPT, Claude, Gemini, or Perplexity.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Peer Comparison.

Compare this company side-by-side against its sector peers with financial metrics, ratio benchmarking, and relative performance across all key dimensions.

Upgrade to PremiumCreate Free Account
✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
🔍
🔎 See cross-company document search → ?
📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-23
Q2 saw 20% YoY sales growth and strong EBITDA, driven by higher polyethylene prices, cost savings, and portfolio actions. Q3 guidance reflects margin compression but expects self-help tailwinds. Strategic asset moves, innovation, and disciplined capital allocation support long-term value.
Q1 2026 Q1 2026 2026-04-23
Q1 2026 saw 3% sequential volume growth, $9.8B in net sales, and $873M operating EBITDA, with strong polyethylene demand offset by Middle East supply disruptions. Cost savings and a robust cash position support a positive outlook, despite ongoing global uncertainties.
Q4 2025 Q4 2025 2026-01-29
Q4 operating EBITDA was $741 million amid challenging macro conditions, with strong cost savings and strategic actions including asset shutdowns and the launch of Transform to Outperform. 2026 guidance targets $750 million Q1 EBITDA and $1 billion in annual benefits from ongoing initiatives.
Q3 2025 Q3 2025 2025-10-23
Sequential earnings and cash flow improved in Q3 2025, driven by cost savings, new asset contributions, and strategic actions, despite ongoing industry headwinds. Q4 guidance anticipates lower EBITDA due to seasonality and higher feedstock costs, with continued focus on cost discipline and asset optimization.
Q2 2025 Q2 2025 2025-07-24
Q2 2025 saw a 7% year-over-year sales decline and a 50% dividend cut amid a prolonged industry downturn. Over $6 billion in near-term cash support is expected from asset sales and partnerships, while cost savings and new US growth projects aim to restore earnings as market conditions remain challenging.
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Catalyst Timeline.

Every result, order win, insider trade, ECS update, earnings-call, and SEC announcement for this company — in one chronological lane.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Full Report.

Read the complete Finmagine™ investment research report — comprehensive fundamental analysis, business model assessment, competitive positioning, and investment recommendation.

Upgrade to PremiumCreate Free Account

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯
Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.
📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.