Dow (DOW) Return on Invested Capital [ROIC] (2009 - 2026)
Dow (DOW) recorded Return on Invested Capital [ROIC] of 2.04% in Q3 2026, up 2.38 percentage points from -0.34% a year earlier and up 1.71 percentage points from the prior quarter.
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Analysis
Dow (DOW) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Dow reported Return on Invested Capital [ROIC] of -4.09%, down 8.72 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has declined for four straight years, with a five-year change of -8.68 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Invested Capital [ROIC] came in at 4.64% in FY2024 (-0.74 pp), 5.38% in FY2023 (-7.56 pp), 12.94% in FY2022 (-7.53 pp) and 20.47% in FY2021 (+15.88 pp).
- The Q3 2026 figure is the highest quarterly Return on Invested Capital [ROIC] since Q4 2024.
- On a year-over-year basis, Return on Invested Capital [ROIC] rose in 1 of the last eight quarters, with an average year-over-year change of -3.79 percentage points.
- Peak year-over-year performance for Return on Invested Capital [ROIC] in the last five years was a gain of 19.19 percentage points in Q4 2021, against a drop of 14.15 percentage points in Q2 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 0.33% (Q2 2026), -3.82% (Q1 2026) and -3.91% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Linde | 242.21 Bn | 224.35 Bn | 4.44 Bn | 10.33% |
| 2 | Corning | 102.99 Bn | 95.28 Bn | 1.81 Bn | 11.02% |
| 3 | Sherwin Williams | 84.99 Bn | 84.01 Bn | 3.28 Bn | 19.47% |
| 4 | Air Products & Chemicals | 70.27 Bn | 70.27 Bn | - | - |
| 5 | LyondellBasell Industries | 41.26 Bn | 29.44 Bn | 1.50 Bn | 8.97% |
| 6 | Nutrien | 34.33 Bn | 30.90 Bn | 1.86 Bn | 13.43% |
| 7 | Ppg Industries | 27.04 Bn | 20.10 Bn | 1.76 Bn | 11.09% |
| 8 | Ati | 24.83 Bn | 22.79 Bn | 380.20 Mn | 16.48% |
| 9 | Qnity Electronics | 24.47 Bn | 20.62 Bn | 743.00 Mn | 8.70% |
| 10 | Dow | 23.74 Bn | 7.70 Bn | 1.38 Bn | -2.60% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -2.60% |
| Jun 30, 2026 | -4.49% |
| Mar 31, 2026 | -8.78% |
| Dec 31, 2025 | -8.63% |
| Sep 30, 2025 | -5.21% |
| Jun 30, 2025 | -4.69% |
| Mar 31, 2025 | -0.43% |
| Dec 31, 2024 | 0.88% |
| Sep 30, 2024 | 1.23% |
| Jun 30, 2024 | 1.60% |
| Mar 31, 2024 | 2.16% |
| Dec 31, 2023 | 0.61% |
| Sep 30, 2023 | 1.06% |
| Jun 30, 2023 | 2.35% |
| Mar 31, 2023 | 4.92% |
| Dec 31, 2022 | 9.37% |
| Sep 30, 2022 | 13.16% |
| Jun 30, 2022 | 15.92% |
| Mar 31, 2022 | 16.63% |
| Dec 31, 2021 | 15.52% |
API Access
Dow Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=DOW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=DOW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();