Dow Inc. (DOW) Stock

Dow Inc. (DOW) is a Materials stock trading at $32.34 (as of 2026-08-21), with a market capitalization of $23.31B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Dow Inc. supplies materials science solutions for uses including packaging, infrastructure, mobility, and consumer applications. It operates through Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings segments, offering chemical and coatings products such as ethylene-related feedstocks, intermediates, adhesives, sealants, and paints, serving customers across the U.S., Canada, Europe, the Middle East, Africa, India, Asia Pacific, and Latin America.

Understand Dow Inc.: how it makes money

Dow makes and sells materials science solutions, including packaging and specialty plastics, industrial intermediate chemicals and infrastructure materials, and performance materials and coatings, generating revenue from sales of these chemical and materials products across multiple end markets.

Dow's profit engine is segment operating profitability, with Packaging & Specialty Plastics showing meaningfully higher Operating EBIT than the other two segments, so overall results largely hinge on how that segment performs.

Revenue by segment (latest quarter)
Pack+SpecPlastics	$4.9B
IndIntermediates+Infra	$2.8B
PerfMaterials+Coatings	$2.1B

Business quality (Weak): Segment operating profitability is uneven, and the most recent period shows a negative company-wide operating margin, so execution and segment earnings discipline are key to watch.

Bull case

Packaging strength within the segment mix: Packaging & Specialty Plastics is the largest segment by revenue and has a comparatively higher Operating EBIT versus the Industrial Intermediates & Infrastructure and Performance Materials & Coatings segments.
Strategic initiatives tied to supply and lower-impact materials: The company lists an Additional Ethylene Supply Offtake (Strategic Agreement), Circulus added recycled materials capacity (Annual), and Path to Zero: Cracker Piling Completion (40%) as tracked items, indicating ongoing execution on supply and materials initiatives.

Bear case

Current overall profitability is weak: For the period ending 2026-03-31, Dow shows an operating margin of -4.0%.
Other segments show very limited Operating EBIT: Industrial Intermediates & Infrastructure and Performance Materials & Coatings have much smaller Operating EBIT figures than Packaging & Specialty Plastics, which can leave the company exposed if Packaging weakens.
Execution risk in capital and project milestones: The company tracks Path to Zero: Cracker Piling Completion at 40%, and progress or timing of such milestones can affect results.

Valuation — source: SEC EDGAR (first-party)
Price	$32.34
Market Cap	$23.31B
EV / EBITDA	61.1
Price / Book	1.39
Price / Sales	0.59
FCF Yield	-1.0%
DCF Value (model)	$13.31
DCF Upside vs Price	-58.8%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$39.97B
Net Margin	-6.1%
Revenue Growth (YoY)	-6.1%
EPS Growth (YoY)	68.2%
FCF Growth (YoY)	-204.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	1.46 (distress)

Valuation vs Sector & Industry
Sector P/E (Materials)	25.9
Industry P/E (Chemicals)	31.1

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($2.22B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Materials
Industry	Chemicals
CEO	James R. Fitterling
Employees	36,000
Country	US
IPO Date	2019-03-20

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Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.