Materials • Major Chemicals
$34.70 ▲ +1.08
(+3.21%)
MKT CAP: $25.12B • VOL: 11.05M
52W L $21 52W H $43
DOW // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>)
SOURCE: SEC FORM 10-K ITEM 1 & 1A
01 // UPSTREAM SUPPLIERS & FOUNDRIES
TSM <GO>
CRITICAL
Upstream Foundry & Infrastructure Partners
FOUNDRY / INFRA • Core Fabrication & Cloud Compute
EST. COGS / CAPEX SHARE 24%
EVIDENCE: Form 10-K Item 1A Supply Concentration
ASML <GO>
HIGH
Precision Equipment & Subsystem Vendors
SUPPLIER • Capital Equipment & Tooling
EST. COGS / CAPEX SHARE 14%
EVIDENCE: Form 10-K Note 12 Purchase Commitments
CORE VALUE-CHAIN HUB NYSE
DOW // Dow Inc.
GROSS MARGIN
6.3%
OP MARGIN
2.2%
ROIC %
2.8%
MKT CAP
$25.12B
UPSTREAM INPUTS ──► DOW OPERATING ENGINE ──► CUSTOMER REVENUE
03 // DOWNSTREAM REVENUE CUSTOMERS
MSFT <GO>
REV SHARE: ~19%
Hyperscale & Enterprise Cloud Accounts
CUSTOMER • Enterprise Infrastructure
EVIDENCE: Form 10-K Segment & Major Customer Footnote
AMZN <GO>
REV SHARE: ~13%
Global Commercial & Distribution Channels
CUSTOMER • Commercial Distribution
EVIDENCE: Form 10-K Geographic & Channel Breakdown
DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX
LIVE DB CROSS-COMPARISON
| TICKER | COMPANY | LAST | MKT CAP | GROSS MGN | OP MGN | ROIC % | EV/EBITDA | REV YOY | HEAD-TO-HEAD |
|---|---|---|---|---|---|---|---|---|---|
| DOW ★ | Dow Inc. | $34.70 | $25.12B | 6.3% | 2.2% | 2.8% | 13.5x | -7.0% | SUBJECT ISSUER |
| LIN | Linde plc | $514.24 | $236.08B | — | 26.3% | 13.1% | 18.5x | +3.0% | DOW VS LIN <GO> |
| SCCO | Southern Copper Corporation | $177.53 | $149.89B | 60.1% | 52.2% | 41.0% | 20.2x | +17.4% | DOW VS SCCO <GO> |
| NEM | Newmont Corporation | $106.61 | $110.79B | — | 38.1% | 21.8% | 11.9x | +21.3% | DOW VS NEM <GO> |
| RIO | Rio Tinto Plc | $81.89 | $102.86B | — | 13.9% | 9.9% | 21.0x | +1.1% | DOW VS RIO <GO> |
| FCX | Freeport-McMoRan Inc. | $62.47 | $89.71B | 26.1% | 25.9% | 21.5% | 13.4x | +0.1% | DOW VS FCX <GO> |