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Dow Inc DOW

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Stock XNYS Rating as of
$57.23 +0.33 (0.58%)
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As of Delayed Price Pre-Open: $57.42 +0.19
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Company Report

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Dow Earnings: Demand Recovery Aided by Favorable Unit Economics

Seth Goldstein

Dow Chemical's first-quarter results showed demand was recovering in line with our outlook for the cadence of the year. Volumes rose 1% versus the prior-year quarter, following inventory destocking that weighed on 2023 results. In 2024, we think Dow will generate higher profits from a favorable price-to-cost spread and improved volumes, which will allow the company to run its plants at a higher capacity utilization.

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Price vs Fair Value

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DOW is trading at a 16% discount.
Price
$57.23
Fair Value
$87.00
Uncertainty
Medium
1-Star Price
$52.50
5-Star Price
$91.30
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Dow Chemical benefits from its cost-advantaged North American operations that use low-cost natural gas-based feedstock.

Bears

The vast majority of Dow’s products are commodities whose prices move with Brent oil prices. As Brent oil prices fall, Dow’s realized prices and profits will fall accordingly.

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News

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Trading Information

Previous Close Price
$56.90
Day Range
$56.43–57.95
52-Week Range
$47.26–60.69
Bid/Ask
$57.12 / $57.66
Market Cap
$40.24 Bil
Volume/Avg
125 / 5.0 Mil

Key Statistics

Price/Earnings (Normalized)
25.78
Price/Sales
0.93
Dividend Yield (Trailing)
4.89%
Dividend Yield (Forward)
4.89%
Total Yield
6.20%

Company Profile

Dow Chemical is a diversified global chemicals producer, formed in 2019 as a result of the DowDuPont merger and subsequent separations. The firm is a leading producer of several chemicals, including polyethylene, ethylene oxide, and silicone rubber. Its products have numerous applications in both consumer and industrial end markets.
Sector
Basic Materials
Industry
Chemicals
Stock Style Box
Mid Core
Total Number of Employees
35,900
Website
https://www.dow.com

Competitors

Valuation

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Metric
DOW
LYB
BASFY
Price/Earnings (Normalized)
 25.7812.9321.37
Price/Book Value
 2.182.491.17
Price/Sales
 0.930.790.65
Price/Cash Flow
 9.127.827.68
Price/Earnings
DOW
LYB
BASFY

Financial Strength

Metric
DOW
LYB
BASFY
Quick Ratio
 0.961.031.23
Current Ratio
 1.771.842.09
Interest Coverage
 1.576.241.74
Quick Ratio
DOW
LYB
BASFY

Profitability

Metric
DOW
LYB
BASFY
Return on Assets (Normalized)
 2.72%7.21%1.18%
Return on Equity (Normalized)
 8.09%20.43%2.55%
Return on Invested Capital (Normalized)
 5.47%11.31%2.29%
Return on Assets
DOW
LYB
BASFY
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