DOW
Dow Inc. Materials Plastic Materials, Synth Resins & Nonvulcan Elastomers S&P 500Russell 3000
$34.70Close
$27.4BMarket cap
$19.96 – $40.9752-week range
Jan 21, 2027Next report · estimated
Highlights
Strengths
- Earnings growing EPS +624% year on year
Cautions
- Trend not confirmed 7 of 8 conditions · 50-day under the 150/200-day
- Extended 5.6 ATR above its 50-day average
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
15%
1wk
up 6.4%
price change
1mo
up 26.0%
price change
12-month return
up 53%
market up 11% ·
its own up 36%
F-score
3 / 9
Weak
Altman Z
1.56
Elevated risk
P/E
—
price / earnings
PEG
—
P/E / EPS growth
P/B
1.7×
price / book
Earnings yield
down 4.0%
EBIT / enterprise value
Cheaper than
35%
of the market · expensive
Revenue growth
down 7%
year on year
EPS growth
up 624%
latest quarter
Sales growth
up 13%
latest quarter · +19 pts
ROE
down 15%
return on equity
Free cash margin
down 4%
-$1.4B FCF
D/E
1.12
long-term debt / equity
Net debt / EBITDA
11.8×
Interest cover
Lossoperating loss
Piotroski tests
- not yet profitable on its assets
- profitability slipped from last year
- took on more long-term debt
- issued more shares
- gross margin narrowed
- assets working less efficiently
- generating cash from operations
- profits backed by cash
- short-term liquidity improved
Trade setup
ATR%
2.9%
$1.00 a day · 2×ATR $32.70
RS
77 / 99
vs the universe
Trend
7 / 8
50-day under the 150/200-day
Relative volume
1.3×
vs 50-day average
Up/down volume
0.96
50 sessions
Implied move
—
no scheduled report
Trend template · 7 of 8
- 50-day average above the 150 and 200-day: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
- Losing money before interest is even paid The company made an operating loss, so interest is not covered at all - the debt is being serviced from cash reserves, asset sales or new borrowing rather than from the business.
- Heavily indebted Net debt is 11.8 times EBITDA — roughly 12 years of earnings before interest, tax and depreciation to repay borrowings in full.
- Gross margin narrowing Gross margin fell from 10.7% to 6.3%. The company is keeping less of each dollar of sales than it did a year ago.
- Revenue shrinking Revenue fell 7.0% over the year, from $43.0B to $40.0B.
Last reported
Oct 22, 2026
Results reaction
Oct 22, 2026+9% vs market2 sessions after results
Options
$2.0M37.2% IV · activity
Financials
- Gross 6%
- Net -6%
- Free cash -4%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $38.5B | $55.0B | $56.9B | $44.6B | $43.0B | $40.0B |
| Gross margin | 13% | 20% | 15% | 11% | 11% | 6% |
| Net income | $1.3B | $6.4B | $4.6B | $660.0M | $1.2B | -$2.4B |
| Net margin | 3% | 12% | 8% | 1% | 3% | -6% |
| Earnings per share | $1.74 | $8.55 | $6.39 | $0.93 | $1.70 | -$3.43 |
| Free cash flow | $5.0B | $5.5B | $5.7B | $2.8B | -$26.0M | -$1.4B |
| Free cash margin | 13% | 10% | 10% | 6% | -0% | -4% |
| Cash | $5.1B | $3.0B | $3.9B | $3.0B | $2.2B | $3.8B |
| Long-term debt | $17.0B | $14.5B | $15.1B | $14.9B | $16.2B | $17.8B |
| Shareholders' equity | $12.4B | $18.2B | $20.7B | $18.6B | $17.4B | $16.0B |
| Shares outstanding | 755.99m | 764.23m | 704.88m | 702.29m | 784.47m | 790.29m |
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $32 – $38 ±8.6% by Nov 27, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- Bigger 37.2% priced · 30.1% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- About the same
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: costs less
Positioning
- Premium traded
- $2.0M calls $1.5M · puts $443,082 · latest session
- 0.29× +0.03 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls +1.60k · puts +6.04k past week
For options traders: ATM IV 37.2% (-1.2% 1w) · 1m ÷ 3m IV 1.02 · 25Δ skew 0.4 pts · Net GEX $5.6M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Oct 23, 2026 | Quarterly ↗ | Sep 30, 2026 | 23d |
| Apr 24, 2026 | Quarterly ↗ | Mar 31, 2026 | 24d |
| Feb 3, 2026 | Annual ↗ | Dec 31, 2025 | 34d |
| Oct 24, 2025 | Quarterly ↗ | Sep 30, 2025 | 24d |
| Jul 25, 2025 | Quarterly ↗ | Jun 30, 2025 | 25d |
| Apr 25, 2025 | Quarterly ↗ | Mar 31, 2025 | 25d |
| Feb 4, 2025 | Annual ↗ | Dec 31, 2024 | 35d |
| Oct 25, 2024 | Quarterly ↗ | Sep 30, 2024 | 25d |
| Jul 26, 2024 | Quarterly ↗ | Jun 30, 2024 | 26d |
| Apr 26, 2024 | Quarterly ↗ | Mar 31, 2024 | 26d |
| Jan 31, 2024 | Annual ↗ | Dec 31, 2023 | 31d |
| Oct 25, 2023 | Quarterly ↗ | Sep 30, 2023 | 25d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 22, 2026 | Results ↗ |
| Jul 23, 2026 | Results ↗ |
| Jul 10, 2026 | Other events ↗ |
| Apr 23, 2026 | Results ↗ |
| Apr 14, 2026 | Director or officer change · Shareholder vote · Regulation FD · Other events ↗ |
| Feb 2, 2026 | Other events ↗ |
| Jan 29, 2026 | Results ↗ |
| Jan 29, 2026 | Restructuring · Other events ↗ |
| Jan 5, 2026 | Director or officer change ↗ |
| Oct 23, 2025 | Results ↗ |
| Sep 8, 2025 | Other events ↗ |
| Sep 2, 2025 | Regulation FD ↗ |