DOW vs LIN
DOW Inc. and Linde PLC, side by side — 9 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | DOW | LIN |
|---|---|---|
| Revenue | $40.0B | $34.0B |
| Net income | $-2.4B | $6.9B |
| Gross margin | 6.3% | 48.8% |
| Net margin | −6.1% | 20.8% |
| Return on equity | −14.7% | 18.1% |
| Diluted EPS | −$3.70 | $14.61 |
| Dividend / share | $2.10 | $6.00 |
| Payout ratio | −61.0% | 40.8% |
| Free cash flow | $-1.4B | $5.1B |
| Equity | $16.0B | $38.2B |
| Net debt / equity | 0.88× | 0.46× |
| Current ratio | 1.97× | 0.88× |
| Revenue CAGR 5y | 0.7% | 4.5% |
| Profit CAGR 5y | · | 22.5% |
DOW bills 1.2× the revenue of LIN, and DOW closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
9 years side by side
| Fiscal year | DOW | LIN |
|---|---|---|
| FY2025 | $40.0B | $34.0B |
| FY2024 | $43.0B | $33.0B |
| FY2023 | $44.6B | $32.9B |
| FY2022 | $56.9B | $33.4B |
| FY2021 | $55.0B | $30.8B |
| FY2020 | $38.5B | $27.2B |
| FY2019 | $43.0B | $28.2B |
| FY2018 | $49.6B | $14.8B |
| FY2017 | $43.7B | $11.4B |
Bottom line
| Fiscal year | DOW | LIN |
|---|---|---|
| FY2025 | $-2.4B | $6.9B |
| FY2024 | $1.2B | $6.6B |
| FY2023 | $660.0M | $6.2B |
| FY2022 | $4.6B | $4.1B |
| FY2021 | $6.4B | $3.8B |
| FY2020 | $1.3B | $2.5B |
| FY2019 | $-1.3B | $2.3B |
| FY2018 | $4.8B | $4.4B |
| FY2017 | $595.0M | $1.2B |
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$5,982,000,000 | DOW |
| FY2024 | +$9,959,000,000 | DOW |
| FY2023 | +$11,768,000,000 | DOW |
| FY2022 | +$23,538,000,000 | DOW |
| FY2021 | +$24,175,000,000 | DOW |
| FY2020 | +$11,299,000,000 | DOW |
| FY2019 | +$14,723,000,000 | DOW |
| FY2018 | +$34,768,000,000 | DOW |
| FY2017 | +$32,372,000,000 | DOW |
DOW has reported the higher revenue in every one of these 9 fiscal years. The gap has narrowed since the earliest year compared.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −26.9 pp | LIN |
| FY2024 | −17.6 pp | LIN |
| FY2023 | −17.8 pp | LIN |
| FY2022 | −4.7 pp | LIN |
| FY2021 | −1.2 pp | LIN |
| FY2020 | −6.3 pp | LIN |
| FY2019 | −11.4 pp | LIN |
| FY2018 | −20.0 pp | LIN |
| FY2017 | −10.1 pp | LIN |
LIN has kept the higher net margin in every one of these 9 fiscal years.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LIN's net margin has been more volatile than DOW's over the 9 comparable fiscal years — 6.5 percentage points of standard deviation against 5.5.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
LIN led in net margin in every one of the 9 comparable fiscal years — a structural lead, not a recent swing.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
DOW's return on equity has been more volatile than LIN's over the 9 comparable fiscal years — 15.6 percentage points of standard deviation against 5.7.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between DOW and LIN over these 9 fiscal years — DOW led in 3 and LIN in 6.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.