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Dow Inc.
DOWMaterialsGenerated Jul 5, 2026, 08:12 PM UTC
DOW (Dow Inc.) analytical snapshot. Revenue declined +21.6% YoY to $44.62B. 5-year revenue CAGR +0.8%. Net margin at 0.00%. Market cap $19.97B at $27.71 per share. Trailing P/E 33.79, P/S 0.45, P/B 1.31. EV/Operating income ≈ 48.59 (EV $32.07B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -17 (data confidence 80%). Descriptive analytics from public filings — not investment advice.
Market cap
$19.97B
720.74M shares
Price
$27.71
NYQ
P/E (ttm)
33.79
Revenue (FY)
$44.62B
YoY -21.6%
Net margin
0.00%
Free cash flow
$2.84B
6.36% margin
Risk level
Moderate
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score -55Deteriorating
80% conf
Revenue declined +21.6% YoY to $44.62B. 5-year revenue CAGR +0.8%. Net margin at 0.00%.
- Revenue declined +21.6% YoY to $44.62B.
- 5-year revenue CAGR +0.8%.
- Net margin at 0.00%.
- Return on equity 0.00%, ROA 0.00%, ROIC 3.55%.
- Gross margin 0.00%, operating margin 1.48%.
- Free cash flow margin 6.36% ($2.84B).
- Debt/equity 1.06, current ratio 1.85, net debt $12.10B.
- Asset turnover 0.75 — capital efficiency.
Revenue (FY)
$44.62B
YoY -21.6%
Net margin
0.00%
ROE
0.00%
ROA 0.00%
ROIC
3.55%
EPS (diluted)
$0.82
FY2025
Free cash flow
$2.84B
6.36% margin
Debt / equity
1.06
Cash $4.11B
Current ratio
1.85
Equity $15.25B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2018 | $49.60B | — | 3.58 | 2.98 | 8.70 | -$6.45B | 16.62 |
| 2019 | $49.60B | 0.0% | 4.55 | -2.59 | 0.00 | -$7.74B | 0.00 |
| 2020 | $49.60B | 0.0% | 3.68 | 5.93 | 0.00 | $2.16B | 0.00 |
| 2021 | $42.95B | -13.4% | 0.00 | -4.00 | 0.00 | $3.97B | 0.00 |
| 2022 | — | — | — | — | — | $4.97B | 0.00 |
| 2023 | $54.97B | — | 0.00 | 11.65 | 0.00 | $5.51B | 0.00 |
| 2024 | $56.90B | +3.5% | 0.00 | 8.15 | 0.00 | $5.65B | 0.00 |
| 2025 | $44.62B | -21.6% | 0.00 | 1.48 | 0.00 | $2.84B | 0.00 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 31, 2025 | $10.43B | -3.1% | — | -2.94% |
| Jun 30, 2025 | $20.54B | -5.3% | +96.9% | -5.56% |
| Jun 30, 2025 | $10.10B | -53.4% | -50.8% | -11.30% |
| Sep 30, 2025 | $30.51B | -6.3% | +201.9% | -3.54% |
| Sep 30, 2025 | $9.97B | -69.4% | -67.3% | -10.83% |
| Mar 31, 2026 | $9.79B | -6.1% | -1.8% | -5.44% |
Revenue (annual, SEC 10-K)
2018: 49,604
2019: 49,604
2020: 49,604
2021: 42,951
2022: 0
2023: 54,968
2024: 56,902
2025: 44,622
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Free cash flow (annual)
2018: -6,446
2019: -7,736
2020: 2,163
2021: 3,969
2022: 4,974
2023: 5,508
2024: 5,652
2025: 2,840
2018
2019
2020
2021
2022
2023
2024
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 3, 2026. Latest quarterly report (10-Q) filed Apr 24, 2026. 17 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 3, 2026.
- Latest quarterly report (10-Q) filed Apr 24, 2026.
- 17 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Dow Inc.; broad institutional reporting.
- Recent filers include Parallax Volatility Advisers, L.P., GSB Wealth Management, LLC, MEYER HANDELMAN CO.
- 4 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 16 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 3, 2026
Annual report
Latest 10-Q
Apr 24, 2026
8-K (recent)
17
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
4
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| Parallax Volatility Advisers, L.P. | 13F-HR | May 14, 2021 |
| GSB Wealth Management, LLC | 13F-HR | Feb 12, 2020 |
| MEYER HANDELMAN CO | 13F-HR | Jan 23, 2020 |
| MASTERS CAPITAL MANAGEMENT LLC | 13F-HR | Feb 17, 2026 |
| MEYER HANDELMAN CO | 13F-HR | Jul 23, 2019 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Apr 23, 2026 | 8-K | 8-K |
| Apr 14, 2026 | 8-K | 8-K |
| Feb 2, 2026 | 8-K | 8-K |
| Jan 29, 2026 | 8-K | 8-K |
| Jan 29, 2026 | 8-K | 8-K |
| Jan 5, 2026 | 8-K | 8-K |
| Oct 23, 2025 | 8-K | 8-K |
| Sep 8, 2025 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -58Deteriorating
68% conf
5 risk signal(s), 1 positive signal(s) detected from XBRL filing diff analysis. Revenue grew -21.6% but receivables grew +0.8% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- Receivables outpacing revenue: Accounts receivable grew +0.8% YoY vs revenue growth of -21.6%. The +22.4% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
- Inventory buildup exceeds sales growth: Inventory grew +7.7% vs revenue -21.6%. Excess inventory may signal weakening demand, potential write-downs, or supply chain overcommitment. Watch gross margin for discounting impact.
- Free cash flow deteriorating: FCF declined +49.8% YoY (from $5.65B to $2.84B). With OCF at $5.20B and capex at $2.36B, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- Interest coverage deteriorating below 3x: Interest coverage fell from 7.01x to 0.88x. Operating income of $660.0M covers interest of $746.0M only 0.88x — approaching the threshold where debt service becomes constrained. Monitor for covenant breaches.
- Material weakness in internal controls: The term "material weakness" appears in 7 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- Deferred revenue growing — future revenue visibility: Deferred revenue grew +25.1% to $244.0M, providing forward revenue visibility. This is a positive leading indicator for subscription or contract-based businesses.
- Endogenous analysis: Revenue grew -21.6% but receivables grew +0.8% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- Endogenous analysis: Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- Ongoing high-severity risk language: Material weakness in internal controls.
Revenue
$44.62B
-21.6% YoY
Gross profit
$1.83B
-19.1% YoY
Operating income
$660.0M
-85.8% YoY
Net income
$4.32B
— YoY
Operating cash flow
$5.20B
-30.5% YoY
Capex
$2.36B
+29.2% YoY
Total assets
$57.97B
-4.3% YoY
Long-term debt
$14.51B
-14.4% YoY
Filing quality score
65/100
stable
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $56.90B | $44.62B | $-12.28B | -21.6% |
| Gross profit | $2.26B | $1.83B | $-430.0M | -19.1% |
| Operating income | $4.64B | $660.0M | $-3.98B | -85.8% |
| Net income | — | $4.32B | — | — |
| Operating cash flow | $7.47B | $5.20B | $-2.28B | -30.5% |
| Capex | $1.82B | $2.36B | $533.0M | +29.2% |
| Total assets | $60.60B | $57.97B | $-2.64B | -4.3% |
| Long-term debt | $16.95B | $14.51B | $-2.44B | -14.4% |
| Cash & equivalents | $3.89B | $2.99B | $-899.0M | -23.1% |
| Stockholders equity | $20.72B | $18.61B | $-2.11B | -10.2% |
| Inventory | $6.08B | $6.54B | $468.0M | +7.7% |
| Accounts receivable | $4.72B | $4.76B | $38.0M | +0.8% |
| SG&A expense | $1.68B | $1.63B | $-48.0M | -2.9% |
| Interest expense | $662.0M | $746.0M | $84.0M | +12.7% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Removed | AccrualForEnvironmentalLossContingenciesChargesToExpenseForNewLosses, AccrualForEnvironmentalLossContingenciesForeignCurrencyTranslationGainLoss, AccrualForEnvironmentalLossContingenciesPayments1, AllocatedShareBasedCompensationExpense, AssetImpairmentCharges, AssetRetirementObligation, AssetRetirementObligationAccretionExpense, AssetRetirementObligationLiabilitiesIncurred, AssetRetirementObligationLiabilitiesSettled, AssetRetirementObligationRevisionOfEstimate |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Material weakness in internal controls | high | 7 | 2 | Ongoing |
| Impairment charge | medium | 14 | 2 | Ongoing |
| Restructuring | medium | 33 | 7 | Ongoing |
| Off-balance sheet arrangements | medium | 19 | 3 | Ongoing |
| Related party transactions | low | 29 | 7 | Ongoing |
Filing signal breakdown
Red flags: 5
Positive: 1
Watch: 0
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $19.97B at $27.71 per share.
- ProPrice & TechnicalsPrice $27.71 — downtrend (below 200-DMA); 1-month momentum negative.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Moderate.
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3 sections free · 4 Pro sections locked · composite -17
Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. Dow Inc. is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewMarket cap $19.97B at $27.71 per share..
Risk
Moderate
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow DOW stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Marathon Petroleum MPC | 25 | Supportive |
| Nike Inc. NKE | 24 | Supportive |
| Airbnb Inc. ABNB | 22 | Supportive |
| Datadog Inc. DDOG | 16 | Supportive |
| Okta Inc. OKTA | 15 | Supportive |
| Valero Energy VLO | 13 | Supportive |
| Deere & Co. DE | 12 | Supportive |
| ASML Holding NV ASML | 10 | Supportive |
| Marriott International MAR | 10 | Supportive |
| GE Aerospace GE | 10 | Supportive |
| United Parcel Service UPS | 9 | Supportive |
| Snowflake Inc. SNOW | 8 | Supportive |
| Cloudflare Inc. NET | 8 | Supportive |
| NVIDIA Corp. NVDA | 7 | Supportive |
| Alphabet Inc. GOOGL | 7 | Supportive |
| General Motors Co. GM | 7 | Supportive |
| Booking Holdings BKNG | 6 | Supportive |
| Nucor Corp. NUE | 5 | Supportive |
| Shopify Inc. SHOP | 5 | Supportive |
| Ulta Beauty Inc. ULTA | 5 | Supportive |
| Pinterest Inc. PINS | 5 | Supportive |
| Amazon.com Inc. AMZN | 4 | Supportive |
| Microchip Technology MCHP | 3 | Supportive |
| Warner Bros Discovery WBD | 3 | Supportive |
| Adobe Inc. ADBE | 3 | Supportive |
| Intuit Inc. INTU | 2 | Supportive |
| General Dynamics GD | 1 | Supportive |
| Roku Inc. ROKU | 1 | Supportive |
| Lockheed Martin LMT | 0 | Supportive |
| Boeing Co. BA | 0 | Supportive |
| Hess Corp. HES | 0 | Supportive |
| MercadoLibre Inc. MELI | -1 | Supportive |
| EOG Resources EOG | -2 | Supportive |
| Applied Materials Inc. AMAT | -2 | Supportive |
| IBM Corp. IBM | -3 | Supportive |
| Spotify Technology SPOT | -3 | Supportive |
| Energy Transfer ET | -3 | Supportive |
| Meta Platforms Inc. META | -4 | Supportive |
| Uber Technologies UBER | -4 | Supportive |
| Phillips 66 PSX | -4 | Supportive |
| United Airlines Holdings UAL | -5 | Supportive |
| Caterpillar Inc. CAT | -5 | Supportive |
| Alibaba Group BABA | -5 | Supportive |
| Comcast Corp. CMCSA | -6 | Supportive |
| TJX Cos. TJX | -6 | Supportive |
| Starbucks Corp. SBUX | -6 | Supportive |
| Schlumberger N.V. SLB | -7 | Supportive |
| Workday Inc. WDAY | -7 | Supportive |
| McDonald's Corp. MCD | -7 | Supportive |
| Micron Technology MU | -8 | Supportive |
| CF Industries CF | -8 | Supportive |
| Lam Research Corp. LRCX | -8 | Supportive |
| Albemarle Corp. ALB | -8 | Supportive |
| Delta Air Lines DAL | -8 | Supportive |
| Yum Brands Inc. YUM | -8 | Supportive |
| Linde plc LIN | -9 | Supportive |
| Home Depot Inc. HD | -10 | Supportive |
| Sherwin-Williams SHW | -10 | Supportive |
| Chipotle Mexican Grill CMG | -10 | Supportive |
| Old Dominion Freight ODFL | -10 | Supportive |
| Salesforce Inc. CRM | -11 | Supportive |
| Netflix Inc. NFLX | -12 | Supportive |
| Union Pacific Corp. UNP | -12 | Supportive |
| Norfolk Southern NSC | -13 | Supportive |
| Air Products & Chemicals APD | -13 | Supportive |
| Exxon Mobil Corp. XOM | -14 | Supportive |
| Palo Alto Networks PANW | -14 | Supportive |
| Royal Caribbean Group RCL | -15 | Supportive |
| Apple Inc. AAPL | -15 | Supportive |
| ConocoPhillips COP | -15 | Supportive |
| Zscaler Inc. ZS | -15 | Supportive |
| Occidental Petroleum OXY | -15 | Supportive |
| Devon Energy DVN | -16 | Supportive |
| Kinder Morgan KMI | -16 | Supportive |
| Cisco Systems Inc. CSCO | -16 | Supportive |
| CSX Corp. CSX | -16 | Supportive |
| Microsoft Corp. MSFT | -16 | Supportive |
| Tesla Inc. TSLA | -17 | Supportive |
| Walt Disney Co. DIS | -17 | Supportive |
| Dow Inc. DOW● you | -17 | Supportive |
| ON Semiconductor Corp. ON | -18 | Supportive |
| Oracle Corp. ORCL | -18 | Supportive |
| CrowdStrike Holdings CRWD | -18 | Supportive |
| Mosaic Co. MOS | -18 | Supportive |
| RTX Corp. RTX | -19 | Supportive |
| Advanced Micro Devices AMD | -19 | Supportive |
| Freeport-McMoRan FCX | -20 | Supportive |
| Dollar General Corp. DG | -20 | Supportive |
| Eaton Corp. ETN | -22 | Supportive |
| Chevron Corp. CVX | -22 | Supportive |
| T-Mobile US Inc. TMUS | -22 | Supportive |
| 3M Co. MMM | -23 | Supportive |
| Lowe's Cos. LOW | -24 | Supportive |
| Texas Instruments TXN | -24 | Supportive |
| Honeywell International HON | -24 | Supportive |
| Qualcomm Inc. QCOM | -25 | Supportive |
| Marvell Technology MRVL | -29 | Supportive |
| Intel Corp. INTC | -31 | Supportive |
| Verizon Communications VZ | -31 | Supportive |
| ServiceNow Inc. NOW | -33 | Supportive |
| Newmont Corp. NEM | -34 | Supportive |
| Autodesk Inc. ADSK | -34 | Supportive |
| Broadcom Inc. AVGO | -35 | Supportive |