Dow (DOW) Research & Development (2009 - 2026)
Dow (DOW) recorded Research & Development of $180 million in Q3 2026, down 5.8% from $191 million a year earlier and down 13.0% from the prior quarter.
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Analysis
Dow (DOW) Research & Development (2009 - 2026) Analysis & Trends
On a TTM basis, Dow's Research & Development came in at $741 million as of Sep 30, 2026, down 5.1% year-over-year; for FY2025, it was $752 million, down 7.2% from FY2024.
- Annual Research & Development has declined for four straight years, with a five-year compound annual growth rate of -0.4% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $810 million in FY2024 (-2.3%), $829 million in FY2023 (-2.6%), $851 million in FY2022 (-0.7%) and $857 million in FY2021 (+11.6%).
- Quarterly Research & Development has ranged from $173 million in Q4 2025 to $225 million in Q4 2022 over the past five years.
- On a year-over-year basis, Research & Development rose in 1 of the last eight quarters, with an average decline of 4.9%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 12.4% in Q1 2022, against a decline of 14.4% in Q4 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $207 million (Q2 2026), $181 million (Q1 2026) and $173 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Linde | 238.84 Bn | 220.98 Bn | 4.44 Bn | 37.00 Mn |
| 2 | Corning | 98.69 Bn | 90.37 Bn | 1.81 Bn | 314.00 Mn |
| 3 | Sherwin Williams | 85.12 Bn | 84.13 Bn | 3.28 Bn | - |
| 4 | Air Products & Chemicals | 69.02 Bn | 64.21 Bn | 1.04 Bn | 21.50 Mn |
| 5 | LyondellBasell Industries | 38.36 Bn | 26.43 Bn | 1.50 Bn | 35.00 Mn |
| 6 | Nutrien | 34.35 Bn | 30.38 Bn | - | - |
| 7 | Ppg Industries | 27.44 Bn | 20.36 Bn | 1.76 Bn | 106.00 Mn |
| 8 | Qnity Electronics | 26.06 Bn | 22.20 Bn | 743.00 Mn | 105.00 Mn |
| 9 | Ati | 25.56 Bn | 23.51 Bn | 380.20 Mn | - |
| 10 | Dow | 22.14 Bn | 6.10 Bn | 1.38 Bn | 180.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 180.00 Mn |
| Jun 30, 2026 | 207.00 Mn |
| Mar 31, 2026 | 181.00 Mn |
| Dec 31, 2025 | 173.00 Mn |
| Sep 30, 2025 | 191.00 Mn |
| Jun 30, 2025 | 188.00 Mn |
| Mar 31, 2025 | 200.00 Mn |
| Dec 31, 2024 | 202.00 Mn |
| Sep 30, 2024 | 208.00 Mn |
| Jun 30, 2024 | 196.00 Mn |
| Mar 31, 2024 | 204.00 Mn |
| Dec 31, 2023 | 213.00 Mn |
| Sep 30, 2023 | 197.00 Mn |
| Jun 30, 2023 | 205.00 Mn |
| Mar 31, 2023 | 214.00 Mn |
| Dec 31, 2022 | 225.00 Mn |
| Sep 30, 2022 | 191.00 Mn |
| Jun 30, 2022 | 217.00 Mn |
| Mar 31, 2022 | 218.00 Mn |
| Dec 31, 2021 | 225.00 Mn |
API Access
Dow Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=DOW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "DOW", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=DOW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();