Financials Dow Inc.

Equities

DOW

US2605571031

Commodity Chemicals

Market Closed - Nyse 04:00:02 2024-04-26 pm EDT 5-day change 1st Jan Change
57.29 USD +1.51% Intraday chart for Dow Inc. +1.11% +4.47%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 40,545 40,788 41,951 35,462 38,465 40,287 - -
Enterprise Value (EV) 1 55,153 52,791 53,635 46,998 50,564 53,174 53,376 53,068
P/E ratio -29.7 x 33.8 x 6.77 x 8.02 x 66.9 x 18.3 x 13.4 x 11.8 x
Yield 3.84% 5.05% 4.94% 5.56% - 4.98% 5.15% 5.24%
Capitalization / Revenue 0.94 x 1.06 x 0.76 x 0.62 x 0.86 x 0.91 x 0.85 x 0.82 x
EV / Revenue 1.28 x 1.37 x 0.98 x 0.83 x 1.13 x 1.2 x 1.13 x 1.08 x
EV / EBITDA 7.57 x 9.45 x 4.33 x 5.03 x 9.38 x 8.36 x 7.06 x 6.43 x
EV / FCF 13.9 x 10.6 x 9.74 x 8.32 x 17.8 x 25.7 x 27.2 x 20.2 x
FCF Yield 7.2% 9.42% 10.3% 12% 5.62% 3.89% 3.67% 4.94%
Price to Book 3 x 3.32 x 2.3 x 2.04 x 2.03 x 2.21 x 2.17 x 2.08 x
Nbr of stocks (in thousands) 740,810 734,925 739,614 703,759 701,397 703,206 - -
Reference price 2 54.73 55.50 56.72 50.39 54.84 57.29 57.29 57.29
Announcement Date 1/29/20 1/28/21 1/27/22 1/26/23 1/25/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 42,951 38,542 54,968 56,902 44,622 44,316 47,150 48,956
EBITDA 1 7,290 5,589 12,375 9,348 5,389 6,362 7,562 8,259
EBIT 1 4,352 2,715 9,533 6,590 2,778 3,533 4,698 5,389
Operating Margin 10.13% 7.04% 17.34% 11.58% 6.23% 7.97% 9.96% 11.01%
Earnings before Tax (EBT) 1 -1,247 2,071 8,145 6,090 656 2,698 4,090 4,527
Net income 1 -1,359 1,225 6,311 4,582 589 2,336 3,073 3,554
Net margin -3.16% 3.18% 11.48% 8.05% 1.32% 5.27% 6.52% 7.26%
EPS 2 -1.840 1.640 8.380 6.280 0.8200 3.136 4.261 4.863
Free Cash Flow 1 3,969 4,974 5,508 5,652 2,840 2,070 1,960 2,622
FCF margin 9.24% 12.91% 10.02% 9.93% 6.36% 4.67% 4.16% 5.36%
FCF Conversion (EBITDA) 54.44% 89% 44.51% 60.46% 52.7% 32.54% 25.92% 31.75%
FCF Conversion (Net income) - 406.04% 87.28% 123.35% 482.17% 88.61% 63.79% 73.8%
Dividend per Share 2 2.100 2.800 2.800 2.800 - 2.854 2.953 3.002
Announcement Date 1/29/20 1/28/21 1/27/22 1/26/23 1/25/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 14,364 15,264 15,664 14,115 11,859 11,851 11,420 10,730 10,621 10,765 11,028 11,340 11,193 11,438 11,788
EBITDA 1 2,920 3,171 3,059 1,863 1,255 1,356 1,534 1,283 1,216 1,394 1,600 1,736 1,633 1,804 1,912
EBIT 1 2,265 2,419 2,375 1,195 601 708 885 626 559 674 859.6 988.7 909.5 1,145 1,296
Operating Margin 15.77% 15.85% 15.16% 8.47% 5.07% 5.97% 7.75% 5.83% 5.26% 6.26% 7.8% 8.72% 8.13% 10.01% 10.99%
Earnings before Tax (EBT) 1 2,118 2,055 2,169 1,001 865 -120 711 417 -352 449 705.2 820.1 638.3 1,072 1,238
Net income 1 1,736 1,569 1,661 739 613 -93 485 302 -105 516 555 716 554 773 896
Net margin 12.09% 10.28% 10.6% 5.24% 5.17% -0.78% 4.25% 2.81% -0.99% 4.79% 5.03% 6.31% 4.95% 6.76% 7.6%
EPS 2 2.320 2.110 2.260 1.020 0.8500 -0.1300 0.6800 0.4200 -0.1500 0.7300 0.7332 0.9238 0.7314 1.100 1.270
Dividend per Share 2 0.7000 0.7000 0.7000 0.7000 0.7000 0.7000 0.7000 - - 0.7000 0.7199 0.7203 0.7208 0.7463 0.7473
Announcement Date 1/27/22 4/21/22 7/21/22 10/20/22 1/26/23 4/25/23 7/25/23 10/24/23 1/25/24 4/25/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 14,608 12,003 11,684 11,536 12,099 12,887 13,090 12,782
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.004 x 2.148 x 0.9442 x 1.234 x 2.245 x 2.026 x 1.731 x 1.548 x
Free Cash Flow 1 3,969 4,974 5,508 5,652 2,840 2,070 1,960 2,623
ROE (net income / shareholders' equity) 11.4% 9.49% 44.2% 23.5% 7.94% 11.3% 18% 18.5%
ROA (Net income/ Total Assets) 3.65% 2.02% 10.9% 15.1% 2.7% 3.66% 6.46% 6.23%
Assets 1 -37,205 60,601 58,011 30,368 21,783 63,777 47,572 57,077
Book Value Per Share 2 18.20 16.70 24.70 24.70 27.00 25.90 26.40 27.50
Cash Flow per Share 2 7.990 8.390 9.360 10.30 7.380 5.600 7.900 8.590
Capex 1 1,961 1,252 1,501 1,823 2,356 2,991 3,126 3,218
Capex / Sales 4.57% 3.25% 2.73% 3.2% 5.28% 6.75% 6.63% 6.57%
Announcement Date 1/29/20 1/28/21 1/27/22 1/26/23 1/25/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
24
Last Close Price
57.29 USD
Average target price
60.71 USD
Spread / Average Target
+5.97%
Consensus