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Stock

Dow

DOW
13
Chemicals · Basic Materials
Also trades as: 0A1S.L GBP 0.29 (+5.30%)
Price
$32.61
+0.80 (+2.51%)
Market Cap
$23.56B
Winston Score
13
Winston is worried
Weak fundamentals across most pillars.
Data as of Oct 23, 2026 · filings through Sep 30, 2026

§How the score breaks down

Quality
Weak
3/30
Growth
Weak
3/20
Cash Flow
Weak
1/10
Stability
Weak
2/10
Valuation
Data not available
0/10
Ownership
Weak
1/15
Dividends
Good
3/5

13 of 100 counted points = Winston Score 13.

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Share count falling — buybacks

−5.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 749.0M (2021) → 711.6M (2025)

§Winston Score History

The full picture

Dow Inc. is one of the largest chemical companies in the world. It makes materials that other companies use to build things — like plastics, coatings, adhesives, and packaging materials. Its customers include manufacturers in industries such as construction, automotive, food packaging, and consumer goods.

Dow earns money by producing and selling chemicals and materials in bulk, so its profits depend heavily on the difference between raw material costs and selling prices. The company operates globally, with major operations in North America, Europe, and Asia, and generates roughly $40–45 billion in annual revenue. Its scale and long-term customer relationships give it some competitive stability, but its thin margins — and currently negative operating margin — show how vulnerable it is to swings in energy costs and weak demand. The biggest risk Dow faces is a prolonged period of high feedstock costs combined with slow global industrial activity, which squeezes profitability and limits its ability to generate returns for shareholders.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+0.0% YoY

YoY Growth Rate

Slow revenue growth

Reported EPS Growth

-5.1% YoY

Quarterly reporting periods ended:

30 Sept 2025: $0.0843

30 Sept 2026: $0.08

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS decreased year over year

R&D Spend

$751M/ year

↓ Declining (-7% vs prior year)

1.9% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$7.3B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Dow is growing revenue at 0% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
0.0%
Thin — 0.0% gross margin
Profit after running costs
Operating Margin
0.0%
Thin — 0.0% operating margin
Return on the money invested
ROCE
-0.5%
Weak — -0.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+1.0%
Nearly flat sales (+1.0% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
1.1%
Thin free cash flow (1.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
1.07
Elevated debt (1.07)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
4.98%
Healthy income — 4.98% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
-42.9%
Dividend cut (-42.9% YoY) — warning sign

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