Dow Inc. Financial Ratios — DOW US Stock

Profitability (USD)

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	3.6	15.92	-5.91	9.43	41.25	23.57	3	6.21	-15.72
Return on Assets (%)	- -	1.16	5.67	-1.88	2.01	10.14	7.41	0.99	1.94	-4.53
Return on Capital (%)	- -	-19.28	10.52	- -	5.12	20.3	13.81	- -	4.62	- -
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 (%)	- -	13.67	-3.3	-13.46	-4.9	28.09	13.5	-5.09	-3.28	-26.07

Credit (USD)

Credit Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

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	- -	32.3	38.81	22.37	20.23	28.84	34.19	32.1	30.28	27.35
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 (%)	- -	41.17	35.98	53.28	56.2	44.24	41.35	44.83	47.03	51.04
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 (%)	- -	43.74	37.17	57.61	59.42	46.27	44.02	46.26	49.71	52.8
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 (%)	- -	35.42	33.8	47.37	42.62	33.92	31.54	34.47	39.68	39.69
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)

Liquidity Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

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	- -	32.3	38.81	22.37	20.23	28.84	34.19	32.1	30.28	27.35
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 (%)	- -	41.17	35.98	53.28	56.2	44.24	41.35	44.83	47.03	51.04
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 (%)	- -	43.74	37.17	57.61	59.42	46.27	44.02	46.26	49.71	52.8
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	2.31	2.13	2.88	2.95	2.53	2.26	1.77

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

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)

Enterprise Value API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	40,582	41,247	41,701	35,519	38,514	28,236	16,769
- 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	57,903	55,757	55,422	48,868	52,475	44,188	34,065
Total Capital	- -	48,010	53,510	33,250	32,049	34,874	37,953	35,555	35,496	37,120
Total Debt/Capital (%)	- -	43.74	37.17	57.61	59.42	46.27	44.02	46.26	49.71	52.8
Total Debt / EV	- -	1.31	1.09	0.33	0.34	0.29	0.34	0.31	0.4	0.58
EV/Sales	- -	0.37	0.37	1.35	1.45	1.01	0.86	1.18	1.03	0.85
EV/EBITDA	- -	2.31	2.17	8.97	10.27	5.17	5.78	11.14	9.21	11.39
EV/EBIT	- -	3.65	3.32	16.45	21.81	7.03	8.57	24.99	23.2	215.6
EV/Cash Flow to Firm	- -	- -	3.58	8.03	8.27	7.31	6.12	8.82	12.54	18.18
EV/Free Cash Flow to Firm	- -	- -	3.55	8.02	8.11	6.59	5.95	8.65	12.11	18.18
Diluted Market Cap	- -	- -	- -	40,637	41,198	42,483	36,563	38,882	28,296	16,637
Diluted Enterprise Value	- -	15,999	18,303	57,979	55,708	56,204	49,912	52,843	44,248	33,933
EV per Share	- -	21.33	24.31	78.09	75.02	75.38	69.33	74.72	62.8	47.5
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)

Valuation Multiples API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	6.84	6.48	5.42	4.74	7.31	9.31	16.12
EV/EBIT	- -	3.65	3.32	16.45	21.81	7.03	8.57	24.99	23.2	215.6
Enterprise Value	- -	15,995	18,203	57,903	55,757	55,422	48,868	52,475	44,188	34,065
Low Price	- -	- -	- -	40.44	21.95	51.33	42.91	47.26	38.85	20.4
EV/Sales	- -	0.37	0.37	1.35	1.45	1.01	0.86	1.18	1.03	0.85
EV/EBITDA	- -	2.31	2.17	8.97	10.27	5.17	5.78	11.14	9.21	11.39
Price/Earnings	- -	- -	- -	- -	33.55	6.68	7.93	65.71	25.31	- -
Price/Earnings Average	- -	- -	- -	-27.53	26.57	7.19	8.8	64.15	33.37	-7.78
Price/Earnings High	- -	- -	- -	-33.07	35.17	8.41	11.31	72.94	38.27	-11.44
Price/Earnings Low	- -	- -	- -	-22.09	13.27	6.05	6.75	56.62	24.5	-5.53
Price/Book Value	- -	- -	- -	3	3.32	2.3	1.71	2.07	1.63	1.05
Price/Book Value Average	- -	- -	- -	2.76	2.63	2.47	1.9	2.02	2.15	1.29
Price/Book Value High	- -	- -	- -	3.31	3.48	2.89	2.44	2.3	2.46	1.89
Price/Book Value Low	- -	- -	- -	2.21	1.31	2.08	1.46	1.78	1.58	0.91
Price/Tangible Book Value	- -	- -	- -	41.16	235.7	6.4	3.69	4.88	3.99	2.56
Price/Tangible Book Value Average	- -	- -	- -	37.89	186.66	6.88	4.09	4.76	5.27	3.14
Price/Tangible Book Value High	- -	- -	- -	45.51	247.08	8.05	5.26	5.42	6.04	4.62
Price/Tangible Book Value Low	- -	- -	- -	30.41	93.22	5.79	3.14	4.2	3.87	2.24
Price/Sales	- -	- -	- -	0.95	1.07	0.77	0.64	0.87	0.66	0.42
Price/Sales Average	- -	- -	- -	0.87	0.84	0.83	0.71	0.85	0.87	0.51
Price/Sales High	- -	- -	- -	1.05	1.12	0.97	0.91	0.96	0.99	0.75
Price/Sales Low	- -	- -	- -	0.7	0.42	0.69	0.54	0.75	0.64	0.36
Price/Cash Flow	- -	- -	- -	6.85	6.6	6.02	4.86	7.45	9.69	16.12
Price/Cash Flow Average	- -	- -	- -	6.31	5.23	6.47	5.39	7.27	12.78	19.79
Price/Cash Flow High	- -	- -	- -	7.58	6.92	7.57	6.93	8.27	14.66	29.08
Price/Cash Flow Low	- -	- -	- -	5.06	2.61	5.45	4.14	6.42	9.38	14.07
Price/Free Cash Flow Average	- -	- -	- -	6.3	5.13	5.84	5.26	7.14	12.28	19.79
Price/Free Cash Flow High	- -	- -	- -	7.57	6.79	6.83	6.76	8.12	14.08	29.08
Price/Free Cash Flow Low	- -	- -	- -	5.06	2.56	4.91	4.04	6.3	9.01	14.07
EV/Sales Average	- -	0.37	0.37	1.27	1.22	1.07	0.93	1.16	1.24	0.95
EV/Sales High	- -	0.37	0.37	1.45	1.5	1.2	1.12	1.27	1.37	1.19
EV/Sales Low	- -	0.37	0.37	1.1	0.8	0.94	0.77	1.06	1.01	0.8
EV/EBITDA Average	- -	2.31	2.18	8.47	8.69	5.46	6.24	10.94	11.08	12.66
EV/EBITDA High	- -	2.31	2.18	9.63	10.64	6.17	7.57	12.04	12.22	15.89
EV/EBITDA Low	- -	2.31	2.18	7.33	5.68	4.8	5.15	10.01	9.02	10.67
EV/EBIT Average	- -	3.65	3.34	15.54	18.46	7.43	9.25	24.55	27.92	239.72
EV/EBIT High	- -	3.65	3.34	17.68	22.59	8.39	11.22	27.01	30.79	300.89
EV/EBIT Low	- -	3.65	3.34	13.45	12.06	6.52	7.65	22.45	22.72	202.07
Last Price	- -	- -	- -	54.73	55.5	56.72	50.39	54.84	40.13	23.38
High Price	- -	- -	- -	60.52	58.18	71.38	71.86	60.88	60.69	42.17
Enterprise Value Average	- -	15,999	18,303	54,704	47,175	58,583	52,758	51,561	53,184	37,876
Enterprise Value High	- -	15,999	18,303	62,218	57,749	66,201	64,002	56,717	58,654	47,541
Enterprise Value Low	- -	15,999	18,303	47,328	30,823	51,460	43,595	47,151	43,287	31,927

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	6.87	4.06	5.51	4.25	3.11	5.32
Book Value per Share	- -	34.43	43.38	18.26	16.73	24.71	29.39	26.49	24.67	22.32
Tangible Book Value per Share	- -	8.45	24.59	1.33	0.24	8.87	13.66	11.24	10.05	9.12

Dow Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)