DOWDOW INC.
Plastic Materials, Synth Resins & Nonvulcan Elastomers
- Revenue
- $40.0B
- 7.0% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $25.1B
- Employees
- 34,600
- $1M revenue each
- Net debt / EBITDA
- —
- $12.6B net debt
- AI in 10-K
- 0.9
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 2 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes22% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowYes144% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo13% of assetsOver 40% of assets
- Shareholder dissentNo91% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$1M · 79th pctBottom quartile of its SIC industry
- Quiet on AINo0.9 per 10K words · 33rd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$25.1B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $55.0B | $56.9B | $44.6B | $43.0B | $40.0B | 7.0% |
| Operating cash flow | $7.0B | $7.5B | $5.2B | $2.9B | $1.0B | 65% |
| Capex | $1.5B | $1.8B | $2.4B | $2.9B | $2.5B | 16% |
| Stock-based comp | $276M | $211M | $212M | $159M | $154M | 3.1% |
| Buybacks | $1.0B | $2.3B | $625M | $494M | $0 | 100% |
| Dividends | $2.1B | $2.0B | $2.0B | $2.0B | $1.5B | 24% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.