Dow Inc. (DOW) - Company Profile - 2026-04-14
Company Overview
Dow Inc. (DOW) is a United States–based materials science company with a diversified footprint in chemicals and related solutions. The company employs about 34,600 people and operates through three reportable segments: Packaging & Specialty Plastics; Industrial Intermediates & Infrastructure; and Performance Materials & Coatings. Dow serves markets across the United States, Canada, Europe, the Middle East and Africa, India, the Asia Pacific, and Latin America. In addition to its core materials business, Dow also engages in property and casualty insurance and reinsurance activities. The company was founded in 1897 and is headquartered in Midland, Michigan. Website: https://www.dow.com
Business and Operations
- Packaging & Specialty Plastics segment provides ethylene, propylene, polyethylene, and aromatics products, along with other ethylene derivatives such as polyolefin elastomers, ethylene vinyl acetate, and ethylene propylene diene monomer rubber.
- Industrial Intermediates & Infrastructure segment offers polyurethanes, including propylene oxide, propylene glycol, and polyether polyols; aromatic isocyanates and fully formulated polyurethane systems; chlor-alkali and vinyl products (chlorine, caustic soda, ethylene dichloride, vinyl chloride monomer); and construction chemicals such as cellulose ethers, redispersible latex powders, and acrylic emulsions, as well as coatings, adhesives, sealants, elastomers, and composites.
- Performance Materials & Coatings segment provides architectural paints and coatings, and industrial coatings; and acrylics-based building blocks, silicon metals, siloxanes, and intermediates.
- The company operates across multiple regions and markets in addition to the core materials businesses. Dow’s diversified portfolio spans packaging, infrastructure, mobility, and consumer applications.
Fundamental Metrics
- Market cap: $28.18B
- Enterprise value: $45.63B
- P/E (forward): 31.19
- P/B: 1.75
- P/S: 0.71
- Profit margin: -6.56%
- Operating margin: -3.14%
- ROE: -13.82%
- ROA: -0.07%
- Debt/Equity: 111.87
- Current ratio: 1.97
- Revenue (TTM): $39.97B
- Revenue growth (YoY): -9.10%
- Free cash flow: -$784.75M
- Dividend yield: 349.00%
- Payout ratio: 7.00%
- Beta: 0.49
Share Structure and Ownership
- Shares outstanding: 719,619,373
- Float: 715,783,289
- Insider held: 0.21%
- Institutional held: 70.85%
- Short ratio (days to cover): 1.40
- Short % of float: 3.56%
Top institutional holders:
- Vanguard Group Inc: 11.88%
- BlackRock Inc.: 7.32%
- State Street Corporation: 4.86%
- Pzena Investment Management LLC: 3.85%
- Geode Capital Management, LLC: 2.57%
Trading Activity
- 30-day average volume: 16,203,590
- 90-day average volume: 13,602,000
- Float and ownership dynamics noted above influence liquidity and trading interest.
Recent Price Action
- Last close: $39.16 (as of 2026-04-14)
- 1-month change: +6.94%
- 3-month change: +51.08%
- Year-to-date (YTD) change: +61.35%
- 1-year change: +41.37%
- 52-week high/low: $42.74 / $20.40
- [Drawdown](https://aksoycapital.com/glossary/drawdown.html) from 52-week high: -8.38%
Strengths
- Diversified business across three operating segments (Packaging & Specialty Plastics; Industrial Intermediates & Infrastructure; Performance Materials & Coatings) providing multiple end-market exposures.
- Revenue scale with TTM revenue of $39.97B.
- Positive liquidity indicator with a current ratio near 2.0.
- Substantial institutional ownership (about 70.85%), indicating broad market participation.
- Forward earnings multiple (P/E forward) of 31.19 and price-to-sales ratio of 0.71 provide a basis for valuation relative to revenue and earnings expectations.
- Beta of 0.49 suggests reduced sensitivity to overall market movements relative to the broader market.
Considerations
- Profitability is negative, with profit margin at -6.56% and operating margin at -3.14%.
- Return metrics reflect negative performance: ROE at -13.82% and ROA at -0.07%.
- Free cash flow is negative (-$784.75M), indicating cash outflow from operations after capex and other needs.
- High debt level as indicated by Debt/Equity of 111.87.
- Revenue declined year over year by 9.10%.
- Dividend yield is reported at 349.00%, which is unusually high and may reflect price levels or other factors affecting yield calculations.
Summary
Dow Inc. is a U.S.-based chemicals company with three reporting segments—Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings—and additional property and casualty insurance activities. As of 2026-04-14, the company has a market cap of $28.18B and an enterprise value of $45.63B, with a forward P/E of 31.19 and TTM revenue of $39.97B. The stock closed at $39.16, having risen notably in the past quarter and year-to-date, while the company exhibits negative profitability and free cash flow alongside a high debt level. Institutional ownership is substantial, and liquidity is supported by 30- to 90-day average trading volumes in the tens of millions.