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THE COMPANY Dow Inc. was incorporated on August 30, 2018, under Delaware law, to serve as a holding company for The Dow Chemical Company and its consolidated subsidiaries ("TDCC" and together with Dow Inc., "Dow" or the "Company"). Dow Inc. operates all of its businesses through TDCC, a wholly owned subsidiary, which was incorporated in 1947 under Delaware law and is the successor to a Michigan…
$36.27
$1.47 (-3.90%)
Price from 15 days ago
Operating margin is thin at 0.97%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 7.0% YoY. Margins deteriorated 4.2pp alongside, both lines moving the wrong way.
ROIC dropped from 5.06% to 0.85%, capital efficiency is deteriorating. Negative free cash flow of -$1.45B. The business is consuming cash, not generating it.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$39.33B
▼ -7.0% YoY
Net Income (TTM)
-$2.85B
▼ -335.0% YoY
Op. Margin
0.83%
▼ -4.2pp YoY
ROIC
0.71%
▼ -4.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$232M
▼ -5465.4% YoY
Op. Cash Flow (TTM)
$2.06B
▼ -64.6% YoY
Net Debt
$15.43B
Cash & Equiv.
$4.11B
5Y CAGR: +0.7%
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