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Ticker
DOW
CE
Headquarter
Midland ,MI
US
Irving ,TX
US
CEO
James R. Fitterling
Scott A. Richardson
Industry
Chemicals
Chemicals
Stock Price
Stock Price
Market Cap
Market Cap
$22.05 B
$5.47 B
Employees
Years
  • 2024
  • 2025
  • 2026
  • 2024
  • 2025
  • 2026
Employees
  • 35.90 K
  • 36.00 K
  • 34.60 K
  • 12.41 K
  • 12.16 K
  • 11.43 K
Y/Y
5.03%
0.28%
3.89%
6.43%
1.99%
5.99%

Income Statement

Revenue
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Revenue
  • $44.62 B
  • $42.96 B
  • $39.97 B
  • $10.94 B
  • $10.28 B
  • $9.54 B
Y/Y
21.58%
3.72%
6.97%
13.1%
6.03%
7.16%
Revenue by Products / Services
Years
  • 2025
  • 2025
Revenue by Geography
Years
  • 2025
  • 2025
Research and Development
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Research and Development
  • $829.00 M
  • $810.00 M
  • $751.00 M
  • $146.00 M
  • $130.00 M
  • $125.00 M
Y/Y
2.59%
2.29%
7.28%
30.36%
10.96%
3.85%
Operating Income
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Operating Income
  • $2.52 B
  • $2.06 B
  • $260.00 M
  • $1.69 B
  • -$697.00 M
  • $767.00 M
Y/Y
52.8%
17.97%
87.4%
22.42%
141.32%
210.04%
Tax Rate (%)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Tax Rate (%)
  • -0.61%
  • 24.94%
  • 2.67%
  • -66.78%
  • -51.20%
  • 7.38%
Y/Y
102.56%
4189.75%
89.3%
94.06%
23.32%
114.41%
Net Income
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Net Income
  • $589.00 M
  • $1.12 B
  • -$2.62 B
  • $1.96 B
  • -$1.52 B
  • -$1.17 B
Y/Y
87.15%
89.47%
335.04%
3.48%
177.65%
23.46%
Revenue Per Employee
Years
  • 2024
  • 2025
  • 2026
  • 2024
  • 2025
  • 2026
Revenue Per Employee
  • $1.20 M
  • $1.11 M
  • -
  • $828.36 K
  • $784.67 K
  • -
Y/Y
1.38%
7.23%
100%
0.43%
5.27%
100%
Net Income Per Employee
Years
  • 2024
  • 2025
  • 2026
  • 2024
  • 2025
  • 2026
Net Income Per Employee
  • $31.09 K
  • -$72.86 K
  • -
  • -$122.64 K
  • -$95.78 K
  • -
Y/Y
99.5%
334.38%
100%
182.99%
21.9%
100%

Assets & Liabilities | Cash Flow

Total Assets
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Total Assets
  • $57.97 B
  • $57.31 B
  • $58.54 B
  • $26.60 B
  • $22.86 B
  • $21.70 B
Y/Y
4.35%
1.13%
2.14%
1.24%
14.06%
5.08%
Total Liabilities
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Total Liabilities
  • $38.86 B
  • $39.46 B
  • $41.02 B
  • $19.05 B
  • $17.25 B
  • $17.22 B
Y/Y
1.26%
1.55%
3.94%
5.56%
9.44%
0.14%
Capital Expenditures (Capex)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Capital Expenditures (Capex)
  • -$2.48 B
  • -$3.07 B
  • -$2.48 B
  • -$568.00 M
  • -$435.00 M
  • -$1.15 B
Y/Y
20.36%
23.74%
19.12%
4.6%
23.42%
163.45%

Profitability

Operating Income Margin (%)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Operating Income Margin (%)
  • 5.64%
  • 4.80%
  • 0.65%
  • 15.42%
  • -6.78%
  • 8.04%
Y/Y
39.82%
14.8%
86.46%
8.25%
143.97%
218.53%
Net Income Margin (%)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Net Income Margin (%)
  • 1.32%
  • 2.60%
  • -6.56%
  • 17.92%
  • -14.81%
  • -12.21%
Y/Y
83.61%
96.79%
352.65%
8.5%
182.64%
17.55%
EBITDA
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
EBITDA
  • $4.00 B
  • $5.25 B
  • $1.19 B
  • $2.61 B
  • $456.00 M
  • $1.51 B
Y/Y
57.86%
31.2%
77.38%
13.45%
82.56%
231.14%
Free Cash Flow (FCF)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Free Cash Flow (FCF)
  • $2.72 B
  • -$151.00 M
  • -$1.45 B
  • $1.33 B
  • $531.00 M
  • -
Y/Y
49.81%
105.55%
858.28%
4.31%
60.11%
100%

Ratios

Return on Equity (ROE)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Return on Equity (ROE)
  • 3.17%
  • 6.43%
  • -16.39%
  • 27.64%
  • -29.41%
  • 0.00%
Y/Y
85.69%
103.14%
354.81%
17.73%
206.4%
100%
Return on Assets (ROA)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Return on Assets (ROA)
  • 1.02%
  • 1.95%
  • -4.48%
  • 7.37%
  • -6.66%
  • 0.00%
Y/Y
86.56%
91.64%
330.11%
2.22%
190.36%
100%
Debt to Equity
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Debt to Equity
  • 88.39%
  • 101.67%
  • 122.43%
  • 198.82%
  • 250.28%
  • 324.23%
Y/Y
9.62%
15.02%
20.41%
25.91%
25.89%
29.55%

Valuation

Enterprise Value
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Enterprise value
  • $52.16 B
  • $43.70 B
  • $33.52 B
  • $29.20 B
  • $19.55 B
  • $0.00
Y/Y
6.12%
16.22%
23.3%
18.24%
33.05%
100%
Enterprise value to Revenue
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Enterprise value to Revenue
  • 1.17
  • 1.02
  • 0.84
  • 2.67
  • 1.90
  • 0.00
Y/Y
35.33%
12.99%
17.55%
4.55%
28.75%
100%
Enterprise value to EBITDA
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Enterprise value to EBITDA
  • 13.03
  • 8.32
  • 28.21
  • 11.17
  • 42.88
  • 0.00
Y/Y
151.83%
36.15%
239.07%
4.22%
283.79%
100%