Dow vs Olin
Dow is the larger business, with $39.97bn of revenue in fiscal 2025 against $6.78bn for Olin (5.9 times as much). Olin grew faster (3.7% against -7.0%). Olin kept more of each dollar of sales as profit: a net margin of -1.5% against -6.6%. Dow carries less debt relative to equity (112.9% against 153.7%).
| Latest fiscal year | DowDOW, 2025 | OlinOLN, 2025 |
|---|---|---|
| Revenue | $39.97bn | $6.78bn |
| Revenue growth | -7.0% | 3.7% |
| Net income | −$2.62bn | −$101m |
| Operating margin | — | 0.1% |
| Net margin | -6.6% | -1.5% |
| Return on equity | -15.7% | -5.2% |
| Free cash flow | −$1.45bn | $248m |
| Cash | $3.82bn | $168m |
| Total debt | $18.07bn | $2.83bn |
| Debt to equity | 112.9% | 153.7% |
| Dividend per share | $2.10 | — |
| Dividend yield | 4.1% | 4.4% |
| Share buybacks | $0 | $50.5m |
| Employees | 34,600 | 7,676 |
| Market value | $24.86bn | $2.07bn |
| Price vs our value range | Within our value range | Below our value range |
| Moat score | 31 (Weak) | 42 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 5 sales |