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Income Statement Evolution
The Dow Chemical Company : Income Statement Evolution
Annual Income Statement Data
Actuals in M $ Estimates in M $
Fiscal Period December 201020112012201320142015
Sales53 67459 98556 78657 53159 85762 774
Operating income (EBITDA)7 5228 3917 4538 2929 1489 618
Operating profit (EBIT)4 5605 5084 7555 4676 2566 991
Pre-Tax Profit (EBT)-3 6011 665---
Net income1 9702 4028422 6333 3053 481
EPS ( $)1,722,050,702,212,823,22
Dividend per Share ( $)0,600,901,211,231,351,38
Yield1,68%2,53%3,40%3,45%3,79%3,87%
Announcement Date02/03/2011
11:30am
02/02/2012
12:09pm
01/31/2013
12:00pm
---
Finances - Leverage
The Dow Chemical Company : Finances - Leverage
Actuals in M $ Estimates in M $
Fiscal Period December 201020112012201320142015
Debt16 78816 15616 66916 98015 60013 001
Finance------
Operating income (EBITDA)7 5228 3917 4538 2929 1489 618
Leverage
(Debt/EBITDA)
2,23x1,93x2,24x2,05x1,71x1,35x
Capital Expenditure2 1302 6872 6141 9992 5002 688
Book Value Per Share (BVPS)15,3 $15,4 $14,0 $17,5 $18,9 $20,5 $
Cash Flow per Share3,59 $3,35 $3,46 $4,27 $4,94 $5,59 $
Announcement Date02/03/2011
11:30am
02/02/2012
12:09pm
01/31/2013
12:00pm
---
Balance Sheet Analysis
The Dow Chemical Company : Balance Sheet Analysis
Assessed data source :
© 2013 Thomson Reuters
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Financial Ratios

Size 2013e 2014e
Capitalization 43 073 M$ -
Company Value 60 054 M$ 58 674 M$
Valuation 2013e 2014e
PER (Price / EPS) 16,1x 12,6x
Capitalization / Revenue 0,75x 0,72x
EV / Revenue 1,04x 0,98x
EV / EBITDA 7,24x 6,41x
Yield (DPS / Price) 3,45% 3,79%
Profitability 2013e 2014e
Operating Margin (EBIT / Sales) 9,50% 10,5%
operating laverage (Delta EBIT / Delta Sales) 11,4x 3,57x
Net Margin (Net Profit / Revenue) 4,58% 5,52%
ROA (Net Profit / Asset) 5,00% 5,69%
ROE (Net Profit / Equities) 14,7% 17,1%
Rate of Dividend 55,5% 47,9%
Balance Sheet Analysis 2013e 2014e
CAPEX / Sales   3,47% 4,18%
Cash Flow / Sales (Taux d'autofinancement) 9,01% 10,0%
Capital Intensity (Assets / Sales) 0,92x 0,97x
Financial Leverage (Net Debt / EBITDA) 2,05x 1,71x
Price Earning Ratio
The Dow Chemical Company : Price Earning Ratio
EPS & Dividend
The Dow Chemical Company : EPS Dividend
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