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Dow: 2023 Is Looking Tough

Feb. 24, 2023 9:02 AM ETDow Inc. (DOW)8 Comments
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DT Analysis


  • Dow posted record-setting operating cash flow during 2022, alongside record-setting free cash flow.
  • This was achieved despite the second half of the year seeing their financial performance deteriorating as weakening operating conditions finally took their toll.
  • When looking ahead into 2023, it seems that tough times are afoot with their guidance pointing towards more headwinds than tailwinds.
  • At least their financial position is solid, which helps ensure they can handle anything on the horizon.
  • Since their share price is up 20%+ following my previous buy rating, I now believe that downgrading to a hold rating is appropriate in light of this outlook.

Word "Tough Times" from clouds in a blue sky

Dgwildlife/iStock via Getty Images


When last discussing Dow (NYSE:DOW) back in the latter half of 2022, my previous article discussed how their weak third-quarter results highlighted their desirable value. It could be said the market agreed because

Dow Ratings


Dow Cash Flows


Dow Operating Cash Flow


Dow Guidance For 2022 & 2023

Dow Third & Fourth Quarter Of 2022 Results Presentations

Dow Capital Structure


Dow Leverage


Dow Debt Serviceability


Dow Liquidity


This article was written by

DT Analysis profile picture
I am no longer active, as I am taking a hiatus from finance to pursue business ventures in other sectors.  I hope that my analysis was helpful to investors across the years, thank you.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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