Dow Inc. Financial Ratios — 2OY.DE Stock

Profitability (USD)

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	3.32	14.62	-5.18	7.33	34.11	20.91	2.62	5.23	-13.91
Return on Assets (%)	- -	1.16	5.67	-1.88	2.01	10.14	7.41	0.99	1.94	-4.53
Return on Capital (%)	- -	-18.43	10.01	- -	4.6	18.53	12.93	- -	4.22	- -
Return on Invested Capital (%)	- -	-97.95	8.37	- -	4.83	18.29	11.8	- -	4	- -
Gross Margin (%)	21.78	16.88	17.2	14.65	13.48	19.61	15.05	10.94	10.72	6.34
EBITDA Margin (%)	14.84	15.84	16.91	15.04	14.09	19.52	14.87	10.56	11.17	7.49
Operating Margin (%)	8.9	10.02	11.05	8.2	6.63	14.35	10.02	4.71	4.43	0.4
Incremental Operating Margin (%)	- -	-2.15	18.68	29.45	21.86	32.45	-112.98	29.33	11.76	58.31
Pretax Margin (%)	9.16	0.54	7.56	-2.9	5.37	14.82	10.7	1.47	3.72	-6.28
Profit Margin (%)	8.97	1.06	9.36	-3.16	3.18	11.48	8.05	1.32	2.6	-6.56
Net Income to Common Margin (%)	8.26	1.06	9.36	-3.16	3.18	11.48	8.05	1.32	2.6	-6.56
Effective Tax Rate (%)	0.2	643.04	21.58	- -	37.52	21.36	23.81	- -	24.94	- -
Dvd Payout Ratio (%)	51.13	-279.6	120.72	-127.91	151.94	31.9	42.7	269.77	152.88	-65.78
Sustainable Growth Rate (%)	- -	12.59	-3.03	-11.8	-3.81	23.23	11.98	-4.45	-2.76	-23.07

Credit (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	21,001	19,889	19,156	19,044	16,135	16,706	16,447	17,645	19,598
ST Debt	- -	1,236	636	1,442	1,032	706	1,011	508	950	652
LT Debt	- -	19,765	19,253	17,714	18,012	15,429	15,695	15,939	16,695	18,946
Total Debt/EBITDA	- -	3.03	2.37	2.97	3.51	1.5	1.97	3.49	3.68	6.55
Net Debt/EBITDA	- -	2.14	2.05	2.27	2.12	1.01	1.27	2.38	2.75	4.42
Total Debt/EBIT	- -	4.79	3.63	5.44	7.45	2.05	2.93	7.83	9.26	124.04
Net Debt/EBIT	- -	3.38	3.13	4.16	4.49	1.37	1.88	5.35	6.94	83.66
EBITDA to Interest Expense	8.33	7.58	7.89	6.92	6.57	14.68	12.78	6.32	5.92	3.46
EBITDA-CapEx/Interest Expense	8.11	7.38	7.85	6.91	6.4	13.55	12.42	6.15	5.76	3.46
EBIT to Interest Expense	5	4.79	5.15	3.77	3.09	10.79	8.61	2.82	2.35	0.18
Interest Expense	858	914	1,063	933	827	731	662	746	811	865
Common Equity/Total Assets	- -	35.09	42.37	28.18	26.63	32.75	38.26	37.58	36.5	28.68
Long-Term Debt/Equity (%)	- -	73.18	57.26	125.68	138.5	82.34	73.87	83.42	93.52	108.13
Long-Term Debt/Capital (%)	- -	39.34	34.08	48.19	50.06	41.32	38.83	41.15	42.74	49.99
Long-Term Debt/Total Assets (%)	- -	24.72	23	29.27	29.3	24.49	25.9	27.5	29.13	32.37
Total Debt/Equity (%)	- -	77.76	59.16	135.92	146.44	86.1	78.63	86.07	98.85	111.85
Total Debt/Capital (%)	- -	41.8	35.21	52.11	52.92	43.21	41.33	42.47	45.18	51.71
Total Debt/Total Assets (%)	- -	26.27	23.76	31.65	30.98	25.62	27.57	28.37	30.79	33.48
Net Debt to Equity	- -	54.84	51.05	103.8	88.31	57.71	50.58	58.75	74.03	75.44
Net Debt/Capital (%)	- -	33.63	31.93	42.53	37.19	31.48	29.41	31.41	35.84	38.78
EBITDA	7,149	6,928	8,388	6,458	5,430	10,729	8,460	4,711	4,799	2,992
EBITDA-CapEx	6,962	6,741	8,342	6,449	5,295	9,906	8,225	4,590	4,674	2,992
Operating Income (Loss)	4,287	4,382	5,479	3,520	2,556	7,887	5,702	2,100	1,905	158

Liquidity (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	0.43	0.18	0.22	0.46	0.23	0.34	0.3	0.21	0.42
Current Ratio	- -	1.89	2.53	1.57	1.72	1.58	1.81	1.77	1.61	1.97
Quick Ratio	- -	1.27	0.76	0.93	1.12	0.95	1.03	0.96	0.88	1.14
CFO/Avg Current Liab	- -	-0.69	0.28	0.45	0.57	0.58	0.61	0.49	0.29	0.11
Common Equity/Total Assets	- -	35.09	42.37	28.18	26.63	32.75	38.26	37.58	36.5	28.68
Long-Term Debt/Equity (%)	- -	73.18	57.26	125.68	138.5	82.34	73.87	83.42	93.52	108.13
Long-Term Debt/Capital (%)	- -	39.34	34.08	48.19	50.06	41.32	38.83	41.15	42.74	49.99
Long-Term Debt/Total Assets (%)	- -	24.72	23	29.27	29.3	24.49	25.9	27.5	29.13	32.37
Total Debt/Equity (%)	- -	77.76	59.16	135.92	146.44	86.1	78.63	86.07	98.85	111.85
Total Debt/Capital (%)	- -	41.8	35.21	52.11	52.92	43.21	41.33	42.47	45.18	51.71
Total Debt/Total Assets (%)	- -	26.27	23.76	31.65	30.98	25.62	27.57	28.37	30.79	33.48
CFO/Total Liabilities	- -	-9.31	8.49	12.77	12.85	15.84	18.99	13.37	7.38	2.52
CFO/CapEx	-15.81	-26.36	92.48	658.89	46.12	8.52	31.81	42.94	23.31	- -
Altman's Z-Score	- -	1.87	2.1	2.2	2.02	2.81	2.91	2.5	2.26	1.76

Working Capital (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	11.92	7.64	8.19	7.76	9.21	9.14	8.64	9.07	8.4
Days Sales Outstanding	- -	30.62	47.77	44.57	47.04	39.61	39.94	42.24	40.24	43.46
Inventory Turnover	- -	8.68	5.38	5.59	5.6	6.76	6.73	6.08	6.08	5.7
Days Inventory Outstanding	- -	42.05	67.87	65.28	65.21	53.99	54.22	59.99	60.04	64.05
Accounts Payable Turnover	- -	16.69	8.07	8.62	8.58	9.82	9.12	8.2	8.28	8.33
Accounts Payable Turnover Days	- -	21.87	45.24	42.34	42.53	37.17	40.02	44.5	44.07	43.81
Cash Conversion Cycle	- -	50.81	70.4	67.52	69.72	56.43	54.13	57.73	56.22	63.71
Inventory to Cash Days	- -	-11.43	-20.1	-20.71	-18.17	-14.38	-14.28	-17.75	-19.8	-20.59
Inventories	- -	8,376	6,899	6,214	5,701	7,372	6,988	6,076	6,544	6,595
Raw Materials	- -	1,746	1,500	1,473	1,531	1,688	1,846	1,738	1,861	2,007
Work In Process	- -	1,747	1,335	1,122	996	1,615	1,476	1,234	1,323	1,239
Finished Goods	- -	5,213	4,313	3,505	3,140	4,554	4,150	3,413	3,773	3,737
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	- -	31,547	33,052	36,264	32,793	36,812	28,007	16,594
- Cash & Cash Equivalents	- -	6,188	2,724	2,367	5,104	2,988	3,886	2,987	2,189	3,816
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	1,186	1,138	553	570	574	529	501	496	1,514
+ Total Debt	- -	21,001	19,889	19,156	19,044	16,135	16,706	16,447	17,645	19,598
Enterprise Value	- -	15,995	18,203	48,868	47,562	49,985	46,142	50,773	43,959	33,890
Total Capital	- -	50,237	56,487	36,762	35,983	37,340	40,423	38,730	39,058	37,901
Total Debt/Capital (%)	- -	41.8	35.21	52.11	52.92	43.21	41.33	42.47	45.18	51.71
Total Debt / EV	- -	1.31	1.09	0.39	0.4	0.32	0.36	0.32	0.4	0.58
EV/Sales	- -	0.37	0.37	1.14	1.23	0.91	0.81	1.14	1.02	0.85
EV/EBITDA	- -	2.31	2.17	7.57	8.76	4.66	5.45	10.78	9.16	11.33
EV/EBIT	- -	3.65	3.32	13.88	18.61	6.34	8.09	24.18	23.08	214.5
EV/Cash Flow to Firm	- -	- -	3.58	6.77	7.05	6.59	5.78	8.54	12.48	18.09
EV/Free Cash Flow to Firm	- -	- -	3.55	6.76	6.92	5.95	5.62	8.37	12.05	18.09
Diluted Market Cap	- -	- -	- -	31,547	33,132	36,528	33,003	36,984	28,059	16,594
Diluted Enterprise Value	- -	15,999	18,303	48,889	47,642	50,249	46,352	50,945	44,011	33,890
EV per Share	- -	21.33	24.27	65.82	64.23	67.22	64	71.95	62.46	47.63
TTM Sales	48,158	43,730	49,604	42,951	38,542	54,968	56,902	44,622	42,964	39,968
TTM EBITDA	7,149	6,928	8,388	6,458	5,430	10,729	8,460	4,711	4,799	2,992
TTM Operating Income	4,287	4,382	5,479	3,520	2,556	7,887	5,702	2,100	1,905	158
TTM Cash Flow to Firm	-2,101	-9,892	5,088	7,215	6,743	7,584	7,979	5,947	3,523	1,874
TTM Free Cash Flow to Firm	-1,914	-9,705	5,134	7,224	6,878	8,407	8,214	6,068	3,648	1,874

Multiples (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	- -	5.31	5.21	4.66	4.28	6.96	9.23	16.08
EV/EBIT	- -	3.65	3.32	13.88	18.61	6.34	8.09	24.18	23.08	214.5
Enterprise Value	- -	15,995	18,203	48,868	47,562	49,985	46,142	50,773	43,959	33,890
Low Price	- -	- -	- -	51.26	22.94	51.75	43.14	47.32	39.11	20.56
EV/Sales	- -	0.37	0.37	1.14	1.23	0.91	0.81	1.14	1.02	0.85
EV/EBITDA	- -	2.31	2.17	7.57	8.76	4.66	5.45	10.78	9.16	11.33
Price/Earnings	- -	- -	- -	- -	26.98	5.75	7.16	62.5	25.1	- -
Price/Earnings Average	- -	- -	- -	-22.59	21.18	6.01	7.69	59.07	32.43	-7.82
Price/Earnings High	- -	- -	- -	-30.45	34.77	8.39	11.15	72.62	38.04	-11.44
Price/Earnings Low	- -	- -	- -	-28.01	13.87	6.1	6.79	56.69	24.66	-5.58
Price/Book Value	- -	- -	- -	1.85	2.02	1.76	1.41	1.69	1.34	0.99
Price/Book Value Average	- -	- -	- -	1.8	1.58	1.84	1.52	1.6	1.73	1.22
Price/Book Value High	- -	- -	- -	2.43	2.6	2.57	2.2	1.96	2.03	1.79
Price/Book Value Low	- -	- -	- -	2.23	1.04	1.87	1.34	1.53	1.32	0.87
Price/Tangible Book Value	- -	- -	- -	20.5	44.37	5.11	3.23	4.38	3.7	2.06
Price/Tangible Book Value Average	- -	- -	- -	19.95	34.82	5.34	3.47	4.14	4.78	2.55
Price/Tangible Book Value High	- -	- -	- -	26.89	57.18	7.46	5.03	5.09	5.61	3.73
Price/Tangible Book Value Low	- -	- -	- -	24.73	22.8	5.42	3.06	3.98	3.64	1.82
Price/Sales	- -	- -	- -	0.73	0.86	0.66	0.58	0.82	0.65	0.42
Price/Sales Average	- -	- -	- -	0.71	0.67	0.69	0.62	0.78	0.84	0.51
Price/Sales High	- -	- -	- -	0.96	1.11	0.96	0.9	0.96	0.99	0.75
Price/Sales Low	- -	- -	- -	0.89	0.44	0.7	0.55	0.75	0.64	0.37
Price/Cash Flow	- -	- -	- -	5.32	5.31	5.17	4.39	7.08	9.61	16.08
Price/Cash Flow Average	- -	- -	- -	5.18	4.17	5.41	4.71	6.7	12.42	19.87
Price/Cash Flow High	- -	- -	- -	6.98	6.84	7.55	6.83	8.23	14.57	29.09
Price/Cash Flow Low	- -	- -	- -	6.42	2.73	5.49	4.16	6.43	9.45	14.18
Price/Free Cash Flow Average	- -	- -	- -	5.17	4.09	4.87	4.6	6.57	11.93	19.87
Price/Free Cash Flow High	- -	- -	- -	6.97	6.71	6.81	6.67	8.08	13.99	29.09
Price/Free Cash Flow Low	- -	- -	- -	6.41	2.68	4.95	4.06	6.31	9.07	14.18
EV/Sales Average	- -	0.37	0.37	1.12	1.05	0.94	0.85	1.09	1.21	0.95
EV/Sales High	- -	0.37	0.37	1.37	1.48	1.21	1.13	1.27	1.36	1.18
EV/Sales Low	- -	0.37	0.37	1.29	0.82	0.95	0.78	1.06	1.01	0.8
EV/EBITDA Average	- -	2.31	2.18	7.44	7.45	4.81	5.74	10.35	10.87	12.64
EV/EBITDA High	- -	2.31	2.18	9.09	10.52	6.21	7.61	12.04	12.17	15.81
EV/EBITDA Low	- -	2.31	2.18	8.58	5.8	4.87	5.25	10.05	9.06	10.67
EV/EBIT Average	- -	3.65	3.34	13.65	15.83	6.55	8.52	23.22	27.37	239.28
EV/EBIT High	- -	3.65	3.34	16.68	22.34	8.45	11.3	27.02	30.66	299.46
EV/EBIT Low	- -	3.65	3.34	15.74	12.32	6.62	7.8	22.55	22.82	202.07
Last Price	- -	- -	- -	42.49	44.63	48.77	45.48	52.16	39.79	23.32
High Price	- -	- -	- -	55.73	57.52	71.17	70.83	60.61	60.32	42.18
Enterprise Value Average	- -	15,999	18,303	48,038	40,450	51,626	48,587	48,753	52,145	37,806
Enterprise Value High	- -	15,999	18,303	58,718	57,106	66,646	64,419	56,733	58,404	47,314
Enterprise Value Low	- -	15,999	18,303	55,405	31,497	52,200	44,455	47,353	43,477	31,927

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	- -	750	749	741	743	735	705	702	704	717
Diluted Weighted Avg Shares	750	750	750	742	742	749	726	709	705	712
Basic Weighted Avg Shares	750	750	750	742	740	744	721	706	704	712
Revenue per Share	64.21	58.31	66.14	57.85	52.05	73.92	78.92	63.23	61.05	56.17
EBITDA per Share	9.53	9.24	11.18	8.7	7.33	14.43	11.73	6.68	6.82	4.2
Operating Income per Share	5.72	5.84	7.31	4.74	3.45	10.61	7.91	2.98	2.71	0.22
Basic EPS, GAAP	5.3	0.62	6.19	-1.83	1.65	8.49	6.36	0.83	1.59	-3.69
Basic EPS from Cont Ops	5.87	-1.72	3.92	-2.31	1.75	8.61	6.44	0.94	1.71	-3.43
Diluted EPS, GAAP	5.3	0.62	6.19	-1.83	1.65	8.43	6.31	0.83	1.58	-3.69
Diluted EPS from Cont Ops	5.87	-1.72	3.92	-2.31	1.74	8.55	6.39	0.93	1.7	-3.43
Dividend per Share	3.28	4.31	4.95	2.81	2.8	2.79	2.78	2.79	2.79	2.09
Cash Flow per Share	-3.94	-6.57	5.67	7.99	8.41	9.43	10.37	7.36	4.14	1.45
Free Cash Flow per Basic Share	-4.19	-6.82	5.61	7.97	8.23	8.32	10.04	7.19	3.96	1.45
Cash & Equivalents per Share	- -	8.26	3.77	3.22	6.89	4.02	5.39	4.23	3.11	5.36
Book Value per Share	- -	37.4	47.28	22.97	22.11	27.74	32.16	30.87	29.72	23.59
Tangible Book Value per Share	- -	10.03	26.07	2.07	1.01	9.54	14.09	11.9	10.75	11.32

Dow Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)