NYSE · DOW

Dow Inc.

Basic Materials · Chemicals

$29.64▲ 0.82% ($0.24)at close

After hours$29.75▲ 0.37%7:39 PM ET

52-week

$20.65$42.74

Market cap

What the market price implies · Reverse DCF

Historical revenue grew by -7.66%/yr over the past 4 years.

Selected forecast · Base scenario

1.14%/yr · actual 10-year annualized revenue growth

Year 1 growth: 1.68%

Market-implied · Base operating assumptions + edited margins

Unavailable · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

No supported revenue growth rate matches this price with these operating assumptions.

Valuation

Recommended · Revenue & margin DCF

Price used

$29.64

Estimated value / share

Unavailable

Base scenario

USD · TTM ending 2026-06-30

Enterprise value of $884.02M does not cover net debt, preferred stock and minority interest of $16.96B, so equity value is negative and no fair value per share can be shown. The projected cash flows are positive; the shortfall is in the equity bridge, not the forecast. This engine cannot separate captive-finance or other non-operating borrowings from operating debt.

Latest quarterly growth differs materially from the latest annual pace. It remains an observed growth input; review whether acceleration or a change in the business explains it.

Year 1 growth 1.68% · Ending margin 0% · Discount rate 5.75%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 11, 2026, 4:28 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 24.38%Revenue (TTM): -1.2%FCF (TTM): 125.06%P/FCF: 96th pct

What changed

The stock rose 24.38% over the last year. Revenue declined 1.2% over the trailing twelve months. Operating margin moved from 2.01% to -0.08%. Free cash flow grew 125.06% over the trailing twelve months.

What the market seems to be pricing

The stock has moved higher with no clear directional signal from operating metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at -0.08%. A decisive move in revenue — currently down 1.2% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

Dow Inc. is a global leader in materials science, delivering diverse solutions for key industries such as packaging, infrastructure development, mobility, and consumer products.

CEOKaren S. Carter

SectorBasic Materials

IndustryChemicals

Employees32,800

IPO dateMar 20, 2019

https://www.dow.com

Market multiples

Forward P/E—

EV/EBITDA27.29

Enterprise value$32.42B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth19.68%

Gross margin9.79%▼4.4ppvs FY2024

Operating margin-0.08%▼4.2ppvs FY2024

ROE-5.79%▲9.9ppvs FY2025

Analyst consensus

RatingHold

Target price$35.67▲20.34%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 22, 2026

Q4 FY26 · EPS est $0.77 · Revenue est $11.35B

View

Dividends

$1.40/shareQuarterlyAt Risk

DOW pays a dividend with a 4.72% dividend yield, covered -1.0× by free cash flow.

Dividend Yield

4.72%

Annual Div / Share

$1.40

5yr CAGR

-12.94%

Dividend has been cut

Payout Ratio

—

At Risk

Dividend Growth Rate

3yr CAGR

-20.63%

5yr CAGR

-12.94%

Dividend Safety

0/10At Risk

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$1.40-42.9%

2025$2.45-12.5%

2024$2.80+0.0%

2023$2.80+0.0%

2022$2.80+0.0%

2021$2.80+0.0%

2020$2.80—

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$47/yr

$4/mo

In 5 yrs

$47/yr

$4/mo

In 10 yrs

$47/yr

$4/mo

Today	In 5 yrs	In 10 yrs
$47/yr $4/mo	$47/yr $4/mo	$47/yr $4/mo

Analysis

Dividend Strengths

No strong strength signal stands out from the latest period pair.

Risks to Watch

Dividend exceeds free cash flow

Free cash flow covers only -0.97× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.

Dividend has been reduced

The 5-year dividend CAGR of -12.94% is negative, indicating the payout has been cut over this period.

NYSE · DOW

Dow Inc.

Basic Materials · Chemicals

$29.64▲ 0.82% ($0.24)at close

After hours$29.75▲ 0.37%7:39 PM ET

52-week

$20.65$42.74

Market cap

What the market price implies · Reverse DCF

Historical revenue grew by -7.66%/yr over the past 4 years.

Selected forecast · Base scenario

1.14%/yr · actual 10-year annualized revenue growth

Year 1 growth: 1.68%

Market-implied · Base operating assumptions + edited margins

Unavailable · flat 10-year annualized revenue growth

No supported revenue growth rate matches this price with these operating assumptions.

Valuation

Recommended · Revenue & margin DCF

Price used

$29.64

Estimated value / share

Unavailable

Base scenario

USD · TTM ending 2026-06-30

Latest quarterly growth differs materially from the latest annual pace. It remains an observed growth input; review whether acceleration or a change in the business explains it.

Year 1 growth 1.68% · Ending margin 0% · Discount rate 5.75%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 11, 2026, 4:28 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 24.38%Revenue (TTM): -1.2%FCF (TTM): 125.06%P/FCF: 96th pct

What changed

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at -0.08%. A decisive move in revenue — currently down 1.2% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

Dow Inc. is a global leader in materials science, delivering diverse solutions for key industries such as packaging, infrastructure development, mobility, and consumer products.

CEOKaren S. Carter

SectorBasic Materials

IndustryChemicals

Employees32,800

IPO dateMar 20, 2019

https://www.dow.com

Market multiples

Forward P/E—

EV/EBITDA27.29

Enterprise value$32.42B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth19.68%

Gross margin9.79%▼4.4ppvs FY2024

Operating margin-0.08%▼4.2ppvs FY2024

ROE-5.79%▲9.9ppvs FY2025

Analyst consensus

RatingHold

Target price$35.67▲20.34%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 22, 2026

Q4 FY26 · EPS est $0.77 · Revenue est $11.35B

View

Dividends

$1.40/shareQuarterlyAt Risk

DOW pays a dividend with a 4.72% dividend yield, covered -1.0× by free cash flow.

Dividend Yield

4.72%

Annual Div / Share

$1.40

5yr CAGR

-12.94%

Dividend has been cut

Payout Ratio

—

At Risk

Dividend Growth Rate

3yr CAGR

-20.63%

5yr CAGR

-12.94%

Dividend Safety

0/10At Risk

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$1.40-42.9%

2025$2.45-12.5%

2024$2.80+0.0%

2023$2.80+0.0%

2022$2.80+0.0%

2021$2.80+0.0%

2020$2.80—

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$47/yr

$4/mo

In 5 yrs

$47/yr

$4/mo

In 10 yrs

$47/yr

$4/mo

Today	In 5 yrs	In 10 yrs
$47/yr $4/mo	$47/yr $4/mo	$47/yr $4/mo

Analysis

Dividend Strengths

No strong strength signal stands out from the latest period pair.

Risks to Watch

Dividend exceeds free cash flow

Free cash flow covers only -0.97× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.

Dividend has been reduced

The 5-year dividend CAGR of -12.94% is negative, indicating the payout has been cut over this period.