Dow Inc. (DOW) intrinsic value & 10-year financials
Dow Inc. (DOW) has a Graham intrinsic value of $8.48 per share. At $29.93 on Oct 17, 2026, the stock trades 253% above that value. Over the last 10 fiscal years revenue shrank 1.1% a year to $40.0B, with an average return on invested capital of 5.6%.
- Graham intrinsic value
- $8.48
- Share price (Oct 17, 2026)
- $29.93
- Price vs Graham value
- 253% above
- Market cap
- $21.3B
- Revenue (FY2025)
- $40.0B
- Revenue growth (10-yr CAGR)
- -1.1%
- ROIC (10-yr avg)
- 5.6%
- Free cash flow (FY2025)
- -$1.4B
DOW 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $40.0B | -$2.4B | -$3.70 | -$1.4B | — | -8.0% |
| FY2024 | $43.0B | $1.2B | $1.57 | -$26.0M | — | 3.9% |
| FY2023 | $44.6B | $660.0M | $0.82 | $2.8B | — | 2.1% |
| FY2022 | $56.9B | $4.6B | $6.28 | $5.7B | — | 15.2% |
| FY2021 | $55.0B | $6.4B | $8.38 | $5.5B | — | 24.0% |
| FY2020 | $38.5B | $1.3B | $1.64 | $5.0B | — | 5.1% |
| FY2019 | $43.0B | -$1.3B | -$1.84 | $4.0B | — | -3.3% |
| FY2018 | $49.6B | $4.8B | $6.21 | $2.2B | — | 9.7% |
| FY2017 | $43.7B | $595.0M | $0.60 | -$7.7B | — | 1.9% |
| FY2016 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Dow Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Dow Inc. has historically struggled to out-earn its cost of capital, averaging just 6.1% ROIC.
Dow Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Dow Inc. is modeled at -1.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $8.48 per share.