Dow, Inc. (DOW)

Over the past six months, Dow Inc.'s stock price increased by 35.04%, closing at $31.78 on February 6, 2026. Fourth quarter 2025 results showed a 9% year-over-year decrease in net sales and a GAAP net loss of $1.5 billion. A restructuring initiative was announced to eliminate approximately 4,500 positions globally, expected to generate $1 billion in annual cost savings. The start of production for the Path2Zero project was delayed by two years to late 2029. Polyethylene demand remains resilient and is growing faster than GDP, with strong natural gas demand also highlighted as a positive development.

Demand seasonality impacts Dow Inc.'s business performance, with the Performance Materials & Coatings segment expected to see sales growth in Q1 due to high demand. The fourth quarter typically experiences sequential declines in net sales and operating EBIT due to normal seasonality, particularly affecting areas like building & construction.

Dow Inc. is a global materials science leader headquartered in Midland, Michigan, and is an operating subsidiary of Dow Inc., a publicly traded holding company. The company holds a significant market share in various industries, including chemical and plastic manufacturing, and was among the top three chemical producers globally in 2021. Dow's business is structured around three core segments: Performance Material & Coatings, Packaging & Specialty Plastics, and Industrial Intermediates & Infrastructure, producing a wide array of products, including plastics, chemicals, and agricultural products.

Dow Inc. operates globally in approximately 160 countries and employs around 36,000 people. A significant portion of its Scope 1 greenhouse gas emissions in 2021 originated from the USA, while a large percentage of its Scope 2 emissions came from a single plant in Stade, Germany.

Dow Inc. has maintained a strong brand reputation, earning ten Edison Awards in 2025 and being recognized as a community-minded company for the fifth consecutive year. Dow has also been recognized as a Great Place To Work® and one of Fortune's 100 Best Companies to Work For®. The company is actively involved in sustainable water stewardship, energy-efficient solutions, and sustainable packaging. The announcement of a global workforce reduction could potentially draw scrutiny.

Dow Inc. has a significant institutional ownership base, with 1555 institutional owners and shareholders holding a total of 516,823,829 shares. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., and State Street Corp. As of the end of 2024, Vanguard Group held approximately 8.7% of Dow's shares, and BlackRock Inc. held around 7.5%.