DOW
Dow Inc.
DOW lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve, though they disagree widely on how much.
DOW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Healthy | |
| Weak |
DOW's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet is weak.
DOW PE Valuation
DOW has no meaningful PE right now: it lost money over the past year.
DOW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect DOW's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
DOW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.12 | — |
| Q3 2026 | -$1.29 | +$0.33 |
| Q2 2026 | -$1.83 | -$0.43 |
| Q1 2026 | -$4.00 | -1100% |
| Q4 2025 | -$3.70 | -336% |
| Q3 2025 | -$1.62 | -208% |
| Q2 2025 | -$1.40 | -186% |
| Q1 2025 | $0.40 | -76% |
| Q4 2024 | $1.57 | +91% |
DOW lost $1.29 per share over the past year, a smaller loss than the year before.
DOW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11.3B | +13% |
| Q2 2026 | $12.1B | +20% |
| Q1 2026 | $9.8B | -6.1% |
| Q4 2025 | $9.5B | -9.1% |
| Q3 2025 | $10B | -8.3% |
| Q2 2025 | $10.1B | -7.4% |
| Q1 2025 | $10.4B | -3.1% |
| Q4 2024 | $10.4B | -2% |
DOW's revenue is recovering but still below its 2022 peak: $11.3B last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.7% | +5 points |
| Q2 2026 | 7.2% | +14 points |
| Q1 2026 | -4% | -0.4 points |
| Q4 2025 | -16% | -19 points |
| Q3 2025 | 0.7% | -2.3 points |
| Q2 2025 | -6.5% | -12 points |
| Q1 2025 | -3.6% | -7.8 points |
| Q4 2024 | 2.1% | +5.4 points |
DOW's operating margin was 5.7% last quarter, up 5 points from the same quarter a year ago.
DOW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.8B | +226% |
| Q2 2026 | $1.3B | +$2.5B |
| Q1 2026 | $621M | +$1.2B |
| Q3 2025 | $563M | -30% |
| Q2 2025 | -$1.1B | -235% |
| Q1 2025 | -$594M | -228% |
| Q3 2024 | $800M | -52% |
| Q2 2024 | $836M | -38% |
DOW's free cash flow has turned positive again: $3.5B over the past year, against −$363M the year before.
DOW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +2.3M shares |
| 1 year | +2% | +14.2M shares |
| 3 years | +2.8% | +19.9M shares |
| 5 years | -3% | -22.6M shares |
| Available history | -2% | -15.1M shares |
DOW has 727M diluted shares, up 2% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | $94M |
| Q2 2024 | $200M |
| Q1 2024 | $200M |
DOW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.7x | High |
| Q2 2026 | 7.8x | High |
| Q1 2026 | 44.7x | High |
| Q4 2025 | 44.1x | High |
| Q3 2025 | 6.3x | High |
| Q2 2025 | 5.8x | High |
| Q1 2025 | 4.1x | High |
| Q4 2024 | 3.1x | Elevated |
DOW's net debt is about 5.7 years of its operating earnings (EBITDA), down from 6.3 years a year ago.
DOW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.2 | Neutral |
| Stochastic | 78.6 | Neutral |
DOW's weekly RSI is 55 (neutral) and its Stochastic is 79 (neutral).
DOW PE vs Basic Materials Sector
| Metric | DOW | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 19x | — |
DOW has no meaningful PE right now: it lost money over the past year.
DOW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $30.8 | 7.7% above |
| 20 week MA | $30.2 | 9.9% above |
| 50 week MA | $31.5 | 5.4% above |
| 100 week MA | $30.6 | 8.5% above |
| 200 week MA | $42.0 | 21% below |
DOW has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 21% below its 200-week average.
DOW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.8 | $54.8 | -0.1% |
| 2021 | $54.8 | $55.1 | +0.6% |
| 2022 | $55.1 | $50.9 | -7.8% |
| 2023 | $50.9 | $54.8 | +7.8% |
| 2024 | $54.8 | $40.0 | -27% |
| 2025 | $40.0 | $23.3 | -42% |
| 2026 YTD | $23.3 | $33.2 | +42% |
DOW is up 42% so far in 2026, after finishing lower in four of the previous six years.