Dow Inc.DOW
NYSE•Basic Materials•Chemicals
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.
Dow Inc. (DOW) reported trailing twelve months revenue of $39.33B as of March 2026, a 7.7% decline year-over-year. Quarterly revenue reached $9.79B, reflecting a contraction in sales.
Dow Inc. reported a TTM net loss of $1.31B, with quarterly EBITDA of $208.00M. The operating margin contracted from -3.7% to -5.2%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (-5.2%) and net margin (-5.4%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from -2.9% a year ago, reflecting increased costs or interest expense.
DOW trades at a P/S of 0.6x. The price-to-book ratio of 1.6x reflects a moderate premium to book value.
The company generated $621.00M in free cash flow over the trailing twelve months, a 204.5% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $59.78B in total assets with $17.25B in long-term debt against $15.25B in stockholders equity for a debt-to-equity ratio of 1.1. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging -3.1%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Only 5 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 887.4% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 1.1 — conservative capital structure with low financial risk.
Revenue declined in 6 of the last 7 quarters — persistent contraction signals a fundamental problem.
FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.
Shares outstanding rose 2.5% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation