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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.

Fundamentals
Scroll to Statements
Sector Basic Materials Industry Chemicals Market Cap 22.28B
Enterprise Value 39.13B Income -2.63B Sales 39.97B
Book/sh 22.32 Cash/sh 5.95 Dividend Yield 5.64%
Payout 7.00% Employees 34600 IPO —
P/E — Forward P/E 55.22 PEG —
P/S 0.56 P/B 1.39 P/C —
EV/EBITDA 14.47 EV/Sales 0.98 Quick Ratio 1.02
Current Ratio 1.97 Debt/Eq 111.87 LT Debt/Eq —
EPS (ttm) -3.70 EPS next Y 0.56 EPS Growth —
Revenue Growth -9.10% Earnings 2026-04-23 ROA -0.07%
ROE -13.82% ROIC — Gross Margin 6.23%
Oper. Margin -3.14% Profit Margin -6.56% Shs Outstand 717.53M
Shs Float 715.70M Short Float 4.05% Short Ratio 2.11
Short Interest — 52W High 39.57 52W Low 20.40
Beta 0.75 Avg Volume 12.35M Volume 8.71M
Target Price $29.19 Recom Hold Prev Close $30.30
Price $31.05 Change 2.48%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$29.19
Mean price target
2. Current target
$31.05
Latest analyst target
3. DCF / Fair value
$-19.69
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$31.05
Low
$22.00
High
$45.00
Mean
$29.19

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-01-30 main Jefferies Hold → Hold $28
2026-01-30 main JP Morgan Neutral → Neutral $26
2026-01-30 reit RBC Capital Sector Perform → Sector Perform $29
2026-01-16 main RBC Capital Sector Perform → Sector Perform $29
2026-01-15 main Citigroup Neutral → Neutral $27
2026-01-08 main Mizuho Neutral → Neutral $27
2025-12-23 main UBS Neutral → Neutral $23
2025-11-19 main Citigroup Neutral → Neutral $23
2025-10-29 main Goldman Sachs Neutral → Neutral $27
2025-10-24 main UBS Neutral → Neutral $25
2025-10-24 main RBC Capital Sector Perform → Sector Perform $27
2025-10-24 main Mizuho Neutral → Neutral $25
2025-10-24 main JP Morgan Neutral → Neutral $23
2025-10-17 main Goldman Sachs Neutral → Neutral $24
2025-10-14 main B of A Securities Neutral → Neutral $24
2025-10-06 main UBS Neutral → Neutral $24
2025-10-03 main Mizuho Neutral → Neutral $26
2025-10-02 main Citigroup Neutral → Neutral $23
2025-09-09 main Wells Fargo Overweight → Overweight $30
2025-09-08 main Jefferies Hold → Hold $23
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 21736 — — Stock Award(Grant) at price 0.00 per share. SAMPSON JOHN MAURICE Officer — 2026-02-12 00:00:00 D
1 21200 — — Stock Award(Grant) at price 0.00 per share. TATE JEFFREY L. Chief Financial Officer — 2026-02-12 00:00:00 D
2 34664 — — Stock Award(Grant) at price 0.00 per share. CARTER KAREN S. Chief Operating Officer — 2026-02-12 00:00:00 D
3 27120 — — Stock Award(Grant) at price 0.00 per share. WILSON AMY E. General Counsel — 2026-02-12 00:00:00 D
4 13964 — — Stock Award(Grant) at price 0.00 per share. BRYANT LISA Officer — 2026-02-12 00:00:00 D
5 4451 — — Stock Award(Grant) at price 0.00 per share. DOMINOWSKI ANDREA L Officer — 2026-02-12 00:00:00 D
6 11972 — — Stock Award(Grant) at price 0.00 per share. LANGE PHILO BRENDY Officer — 2026-02-12 00:00:00 D
7 10623 — — Stock Award(Grant) at price 0.00 per share. TEN BRUGGENCATE MACRO Officer — 2026-02-12 00:00:00 D
8 12443 — — Stock Award(Grant) at price 0.00 per share. CLEASON KEITH Officer — 2026-02-12 00:00:00 D
9 128962 — — Stock Award(Grant) at price 0.00 per share. FITTERLING JAMES R Chief Executive Officer — 2026-02-12 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-44.79M-12.95M-162.75M-38.32M
TaxRateForCalcs0.030.250.210.24
NormalizedEBITDA2.85B5.36B4.79B9.67B
TotalUnusualItems-1.66B-52.00M-775.00M-161.00M
TotalUnusualItemsExcludingGoodwill-1.66B-52.00M-775.00M-161.00M
NetIncomeFromContinuingOperationNetMinorityInterest-2.62B1.12B589.00M4.58B
ReconciledDepreciation2.83B2.89B2.61B2.76B
ReconciledCostOfRevenue34.83B35.77B37.45B45.92B
EBITDA1.19B5.30B4.01B9.51B
EBIT-1.65B2.41B1.40B6.75B
NetInterestIncome-713.00M-611.00M-517.00M-489.00M
InterestExpense865.00M811.00M746.00M662.00M
InterestIncome152.00M200.00M229.00M173.00M
NormalizedIncome-1.01B1.16B1.20B4.70B
NetIncomeFromContinuingAndDiscontinuedOperation-2.62B1.12B589.00M4.58B
TotalExpenses39.81B41.06B42.52B51.20B
DilutedAverageShares705.10M709.00M725.60M749.00M
BasicAverageShares703.80M705.70M721.00M743.60M
DilutedEPS1.570.826.288.38
BasicEPS1.570.826.328.44
DilutedNIAvailtoComStockholders-2.63B1.10B578.00M4.56B
NetIncomeCommonStockholders-2.63B1.10B578.00M4.56B
OtherunderPreferredStockDividend11.00M12.00M11.00M24.00M
NetIncome-2.62B1.12B589.00M4.58B
MinorityInterests-179.00M-85.00M-71.00M-58.00M
NetIncomeIncludingNoncontrollingInterests-2.44B1.20B660.00M4.64B
NetIncomeDiscontinuousOperations0.00
NetIncomeContinuousOperations-2.44B1.20B660.00M4.64B
TaxProvision-67.00M399.00M-4.00M1.45B
PretaxIncome-2.51B1.60B656.00M6.09B
OtherIncomeExpense-1.96B306.00M-927.00M877.00M
OtherNonOperatingIncomeExpenses-57.00M364.00M-33.00M770.00M
SpecialIncomeCharges-1.73B-7.00M-435.00M-44.00M
GainOnSaleOfPPE10.00M60.00M80.00M78.00M
GainOnSaleOfBusiness193.00M13.00M26.00M4.00M
OtherSpecialCharges78.00M-5.00M-5.00M8.00M
WriteOff0.00-18.00M18.00M0.00
RestructuringAndMergernAcquisition1.86B103.00M528.00M118.00M
EarningsFromEquityInterest-240.00M-6.00M-119.00M268.00M
GainOnSaleOfSecurity72.00M-45.00M-340.00M-117.00M
NetNonOperatingInterestIncomeExpense-713.00M-611.00M-517.00M-489.00M
InterestExpenseNonOperating865.00M811.00M746.00M662.00M
InterestIncomeNonOperating152.00M200.00M229.00M173.00M
OperatingIncome158.00M1.91B2.10B5.70B
OperatingExpense2.38B2.70B2.78B2.86B
DepreciationAmortizationDepletionIncomeStatement231.00M310.00M324.00M336.00M
DepreciationAndAmortizationInIncomeStatement231.00M310.00M324.00M336.00M
Amortization231.00M310.00M324.00M336.00M
AmortizationOfIntangiblesIncomeStatement231.00M310.00M324.00M336.00M
ResearchAndDevelopment752.00M810.00M829.00M851.00M
SellingGeneralAndAdministration1.39B1.58B1.63B1.68B
GeneralAndAdministrativeExpense1.65B
OtherGandA1.65B
GrossProfit2.53B4.61B4.88B8.56B
CostOfRevenue37.44B38.36B39.74B48.34B
TotalRevenue39.97B42.96B44.62B56.90B
OperatingRevenue39.97B42.96B44.62B56.90B
Line Item2025-12-312024-12-312023-12-312022-12-31
TreasurySharesNumber73.07M80.86M76.30M66.80M
OrdinarySharesNumber717.22M703.61M702.29M704.88M
ShareIssued790.29M784.47M778.60M771.68M
NetDebt13.22B13.21B11.23B10.75B
TotalDebt19.60B17.64B16.45B16.71B
TangibleBookValue6.54B7.07B7.89B9.63B
InvestedCapital33.04B32.76B32.82B35.35B
WorkingCapital8.88B6.30B7.66B9.15B
NetTangibleAssets6.54B7.07B7.89B9.63B
CapitalLeaseObligations2.56B2.24B2.23B2.07B
CommonStockEquity16.01B17.36B18.61B20.72B
TotalCapitalization32.73B32.13B32.64B34.63B
TotalEquityGrossMinorityInterest17.52B17.85B19.11B21.25B
MinorityInterest1.51B496.00M501.00M529.00M
StockholdersEquity16.01B17.36B18.61B20.72B
OtherEquityInterest-15.00M
GainsLossesNotAffectingRetainedEarnings-7.66B-8.11B-7.68B-7.14B
OtherEquityAdjustments-7.66B-8.11B-7.68B-7.14B
TreasuryStock4.23B4.66B4.37B3.87B
RetainedEarnings16.78B20.91B21.77B23.18B
AdditionalPaidInCapital11.11B9.20B8.88B8.54B
CapitalStock8.00M8.00M8.00M8.00M
CommonStock8.00M8.00M8.00M8.00M
TotalLiabilitiesNetMinorityInterest41.02B39.46B38.86B39.36B
TotalNonCurrentLiabilitiesNetMinorityInterest31.83B29.17B28.90B28.02B
OtherNonCurrentLiabilities7.83B7.35B7.63B7.41B
EmployeeBenefits4.69B4.74B4.93B3.81B
NonCurrentPensionAndOtherPostretirementBenefitPlans4.69B4.74B4.93B3.81B
NonCurrentDeferredLiabilities364.00M392.00M399.00M1.11B
NonCurrentDeferredTaxesLiabilities364.00M392.00M399.00M1.11B
LongTermDebtAndCapitalLeaseObligation18.95B16.70B15.94B15.70B
LongTermCapitalLeaseObligation2.22B1.92B1.91B1.79B
LongTermDebt16.72B14.77B14.03B13.91B
CurrentLiabilities9.18B10.29B9.96B11.33B
CurrentDebtAndCapitalLeaseObligation652.00M950.00M508.00M1.01B
CurrentCapitalLeaseObligation340.00M318.00M329.00M287.00M
CurrentDebt312.00M632.00M179.00M724.00M
OtherCurrentBorrowings222.00M497.00M117.00M362.00M
CommercialPaper0.00299.00M
CurrentNotesPayable90.00M135.00M62.00M63.00M
PayablesAndAccruedExpenses8.53B9.34B9.45B10.32B
CurrentAccruedExpenses2.65B2.52B2.70B2.77B
Payables5.88B6.82B6.75B7.55B
OtherPayable1.39B1.69B1.80B2.28B
TotalTaxPayable337.00M276.00M419.00M334.00M
IncomeTaxPayable337.00M276.00M419.00M334.00M
AccountsPayable4.15B4.85B4.53B4.94B
TotalAssets58.54B57.31B57.97B60.60B
TotalNonCurrentAssets40.48B40.72B40.35B40.13B
OtherNonCurrentAssets1.30B1.23B1.32B1.36B
NonCurrentDeferredAssets1.51B1.26B1.49B960.00M
NonCurrentDeferredTaxesAssets1.51B1.26B1.49B960.00M
NonCurrentAccountsReceivable309.00M380.00M438.00M666.00M
InvestmentsAndAdvances4.28B4.30B4.01B4.38B
OtherInvestments3.02B3.03B2.74B2.79B
LongTermEquityInvestment1.26B1.27B1.27B1.59B
InvestmentsinAssociatesatCost1.59B2.04B
GoodwillAndOtherIntangibleAssets9.46B10.29B10.71B11.09B
OtherIntangibleAssets1.49B1.72B2.07B2.44B
Goodwill7.98B8.56B8.64B8.64B
NetPPE23.61B23.27B22.39B21.67B
AccumulatedDepreciation-43.61B-40.12B-39.14B-37.61B
GrossPPE67.22B63.39B61.52B59.28B
ConstructionInProgress2.91B3.43B2.56B2.13B
OtherProperties9.25B8.51B8.19B7.85B
MachineryFurnitureEquipment47.08B44.05B43.34B42.13B
BuildingsAndImprovements5.53B5.14B5.22B5.04B
LandAndImprovements2.44B2.25B2.22B2.13B
Properties0.000.000.000.00
CurrentAssets18.06B16.59B17.61B20.48B
OtherCurrentAssets1.01B993.00M1.94B1.85B
Inventory6.59B6.54B6.08B6.99B
InventoriesAdjustmentsAllowances-388.00M-413.00M-309.00M-484.00M
FinishedGoods3.74B3.77B3.41B4.15B
WorkInProcess1.24B1.32B1.23B1.48B
RawMaterials2.01B1.86B1.74B1.85B
Receivables6.64B6.86B6.61B7.75B
OtherReceivables2.14B2.71B
NotesReceivable1.88B2.11B1.90B2.14B
AccountsReceivable4.76B4.76B4.72B5.61B
AllowanceForDoubtfulAccountsReceivable-59.00M-95.00M-81.00M-110.00M
GrossAccountsReceivable4.82B4.85B4.80B5.72B
CashCashEquivalentsAndShortTermInvestments3.82B2.19B2.99B3.89B
CashAndCashEquivalents3.82B2.19B2.99B3.89B
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow-1.45B-151.00M2.72B5.42B
RepurchaseOfCapitalStock0.00-494.00M-625.00M-2.33B
RepaymentOfDebt-1.53B-345.00M-695.00M-1.02B
IssuanceOfDebt2.84B1.61B104.00M1.92B
IssuanceOfCapitalStock85.00M166.00M188.00M212.00M
CapitalExpenditure-2.48B-3.06B-2.48B-2.06B
InterestPaidSupplementalData887.00M800.00M675.00M801.00M
IncomeTaxPaidSupplementalData827.00M735.00M793.00M731.00M
EndCashPosition3.82B2.19B2.99B3.89B
OtherCashAdjustmentOutsideChangeinCash-136.00M-74.00M-61.00M-54.00M
BeginningCashPosition2.26B3.05B3.94B3.03B
EffectOfExchangeRateChanges275.00M-163.00M-45.00M-237.00M
ChangesInCash1.41B-622.00M-847.00M1.14B
FinancingCashFlow2.51B-1.17B-3.12B-3.36B
CashFromDiscontinuedFinancingActivities0.00
CashFlowFromContinuingFinancingActivities2.51B-1.17B-3.12B-3.36B
NetOtherFinancingCharges2.60B-139.00M-115.00M-142.00M
CashDividendsPaid-1.49B-1.97B-1.97B-2.01B
CommonStockDividendPaid-1.49B-1.97B-1.97B-2.01B
NetCommonStockIssuance85.00M-328.00M-437.00M-2.11B
CommonStockPayments0.00-494.00M-625.00M-2.33B
CommonStockIssuance85.00M166.00M188.00M212.00M
NetIssuancePaymentsOfDebt1.31B1.26B-591.00M900.00M
NetShortTermDebtIssuance-4.00M65.00M-249.00M239.00M
ShortTermDebtPayments-68.00M-78.00M-249.00M-14.00M
ShortTermDebtIssuance64.00M143.00M0.00253.00M
NetLongTermDebtIssuance1.32B1.20B-342.00M661.00M
LongTermDebtPayments-1.46B-267.00M-446.00M-1.01B
LongTermDebtIssuance2.78B1.47B104.00M1.67B
InvestingCashFlow-2.13B-2.37B-2.93B-2.97B
CashFromDiscontinuedInvestingActivities0.00
CashFlowFromContinuingInvestingActivities-2.13B-2.37B-2.93B-2.97B
NetOtherInvestingChanges137.00M-33.00M-61.00M-50.00M
DividendsReceivedCFI0.000.002.00M52.00M
NetInvestmentPurchaseAndSale-16.00M524.00M-545.00M-809.00M
SaleOfInvestment1.02B2.54B1.96B747.00M
PurchaseOfInvestment-1.04B-2.01B-2.50B-1.56B
NetBusinessPurchaseAndSale93.00M-28.00M58.00M-137.00M
SaleOfBusiness125.00M0.0063.00M11.00M
PurchaseOfBusiness-32.00M-28.00M-5.00M-148.00M
NetPPEPurchaseAndSale139.00M109.00M-26.00M-203.00M
SaleOfPPE139.00M234.00M95.00M32.00M
PurchaseOfPPE0.00-125.00M-121.00M-235.00M
CapitalExpenditureReported-2.48B-2.94B-2.36B-1.82B
OperatingCashFlow1.03B2.91B5.20B7.47B
CashFromDiscontinuedOperatingActivities-30.00M11.00M32.00M-11.00M
CashFlowFromContinuingOperatingActivities1.06B2.90B5.16B7.49B
ChangeInWorkingCapital-1.20B-1.62B1.07B-786.00M
ChangeInOtherWorkingCapital-220.00M-1.15B-203.00M-1.06B
ChangeInPayablesAndAccruedExpense-999.00M278.00M-734.00M-1.25B
ChangeInPayable-999.00M278.00M-734.00M-1.25B
ChangeInAccountPayable-999.00M278.00M-734.00M-1.25B
ChangeInInventory-52.00M-529.00M844.00M347.00M
ChangeInReceivables73.00M-224.00M1.16B1.19B
OtherNonCashItems2.30B342.00M1.32B330.00M
ProvisionandWriteOffofAssets278.00M
DeferredTax-341.00M135.00M-1.22B79.00M
DeferredIncomeTax-341.00M135.00M-1.22B79.00M
DepreciationAmortizationDepletion2.83B2.89B2.61B2.76B
DepreciationAndAmortization2.83B2.89B2.61B2.76B
OperatingGainsLosses-85.00M-48.00M723.00M465.00M
PensionAndEmployeeBenefitExpense-304.00M-331.00M406.00M-212.00M
EarningsLossesFromEquityInvestments439.00M348.00M387.00M696.00M
NetIncomeFromContinuingOperations-2.44B1.20B660.00M4.64B
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for DOW
Date User Asset Broker Type Position Size Entry Price Patterns