DOW vs. LIN: Dow vs. Linde Stock Comparison

November 11, 2026

How do Dow (DOW) and Linde (LIN) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Dow (DOW) and Linde (LIN) both belong to the Chemicals industry, though DOW is classified under Commodity Chemicals while LIN falls under Industrial Gases.

Company profile comparison for Dow (DOW) and Linde (LIN)
Profile Item	DOW	LIN
Name	Dow Inc.	Linde plc
Country/Region	United States	United Kingdom
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Chemicals
GICS Sub-Industry	Commodity Chemicals	Industrial Gases
Market Capitalization	22.73 billion USD	236.54 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	March 20, 2019	June 17, 1992
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

DOW

LIN

GSPC

Dow (DOW) vs. Linde (LIN), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Dow (DOW) and Linde (LIN). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Dow (DOW) and Linde (LIN). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Dow (DOW) and Linde (LIN)
Metric	DOW	LIN
Total Return (1Y)	46.93%	25.64%
Total Return (3Y, Annualized)	-8.46%	11.48%
Total Return (5Y, Annualized)	-6.94%	10.50%

Risk Profile

Drawdown History

DOW

LIN

GSPC

Dow (DOW) vs. Linde (LIN), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Dow (DOW) and Linde (LIN). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Dow (DOW) and Linde (LIN)
Metric	DOW	LIN
Volatility (1Y, Annualized)	41.81%	19.00%
Beta (5Y)	0.44	0.67
Max Drawdown (5Y)	-64.37%	-22.82%
Avg. Volume (3M)	8.52M	2.05M

Risk-Adjusted Performance

Risk-Return Positioning

DOW and LIN are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Dow (DOW) and Linde (LIN)
Metric	DOW	LIN
Sharpe Ratio (1Y)	1.02	1.12
Sortino Ratio (1Y)	1.62	1.65

Profitability

ROE (TTM)

Dow (DOW) reports a negative ROE of -3.24%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Linde (LIN) reports 17.72%, ranking against industry peers normally.

DOW

Materials industry group

-3.24%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
DOW: -3.24%
Q1: -3.41%
Min: -32.81%

LIN

Materials industry group

17.72%

Max: 52.88%
Q3: 19.49%
LIN: 17.72%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Dow (DOW) vs. Linde (LIN): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Dow (DOW) reports a negative net margin of -2.11%, usually indicating a net loss over the period. Meanwhile Linde (LIN) reports 19.34%, ranking against industry peers normally.

DOW

Materials industry group

-2.11%

Max: 38.66%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
DOW: -2.11%
Min: -20.40%

LIN

Materials industry group

19.34%

Max: 38.66%
LIN: 19.34%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Dow (DOW) vs. Linde (LIN): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both Dow (DOW) at 6.78% and Linde (LIN) at 27.97% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

DOW

Materials industry group

6.78%

Max: 66.70%
Q3: 28.92%
Median: 12.56%
DOW: 6.78%
Q1: 3.28%
Min: -14.07%

LIN

Materials industry group

27.97%

Max: 66.70%
Q3: 28.92%
LIN: 27.97%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Dow (DOW) vs. Linde (LIN): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Dow (DOW) and Linde (LIN)
Metric	DOW	LIN
ROE (TTM)	-3.24%	17.72%
ROA (TTM)	1.87%	7.17%
Net Margin (TTM)	-2.11%	19.34%
Operating Margin (TTM)	6.78%	27.97%
Gross Margin (TTM)	11.01%	47.86%

Growth

Revenue Growth

Linde (LIN) at 2.97% is around its peer norm for revenue growth, while Dow (DOW) at -6.97% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Dow (DOW) vs. Linde (LIN): A comparison of their Revenue Growth across different time periods.

EPS Growth

Linde (LIN) at 7.27% is around its peer norm for EPS growth, while Dow (DOW) at -335.67% falls below its industry range, a notably weak earnings reading.

Dow (DOW) vs. Linde (LIN): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Dow (DOW) and Linde (LIN)
Metric	DOW	LIN
Revenue Growth (YoY)	-6.97%	2.97%
Revenue Growth (3Y CAGR)	-11.11%	0.62%
EPS Growth (YoY)	-335.67%	7.27%
EPS Growth (3Y CAGR)	--	21.08%

Financial Strength

Current Ratio (MRQ)

Dow (DOW) at 1.76 keeps current ratio within its industry’s typical mid-range, while Linde (LIN) at 0.86 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for LIN.

DOW

Materials industry group

1.76

Max: 5.96
Q3: 3.30
Median: 2.24
DOW: 1.76
Q1: 1.45
Min: 0.16

LIN

Materials industry group

0.86

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
LIN: 0.86
Min: 0.16

Dow (DOW) vs. Linde (LIN): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Linde (LIN) at 0.65 carries an industry-typical debt-to-equity mix, while Dow (DOW) at 1.08 uses more debt funding than most peers.

DOW

Materials industry group

1.08

Max: 1.98
DOW: 1.08
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00

LIN

Materials industry group

0.65

Max: 1.98
Q3: 0.89
LIN: 0.65
Median: 0.47
Q1: 0.13
Min: 0.00

Dow (DOW) vs. Linde (LIN): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Dow (DOW) and Linde (LIN)
Metric	DOW	LIN
Current Ratio (MRQ)	1.76	0.86
Debt / Equity (MRQ)	1.08	0.65
Net Debt / EBITDA	3.21	1.65

Dividends

Dividend Yield (TTM)

Dow (DOW) at 4.38% delivers top-quartile income for its industry, while Linde (LIN) at 1.21% pays a more typical yield — both are credible income propositions, DOW the richer one.

DOW

Materials industry group

4.38%

Max: 4.52%
DOW: 4.38%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

LIN

Materials industry group

1.21%

Max: 4.52%
Q3: 1.85%
LIN: 1.21%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Dow (DOW) vs. Linde (LIN): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Dow (DOW) reports payout ratio above 100% at 700.00%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile Linde (LIN) reports 41.83%, ranking against industry peers normally.

DOW

Materials industry group

700.00%

DOW: 700.00%
Max: 83.62%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

LIN

Materials industry group

41.83%

Max: 83.62%
LIN: 41.83%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Dow (DOW) vs. Linde (LIN): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Dow (DOW) and Linde (LIN)
Metric	DOW	LIN
Dividend Yield (TTM)	4.38%	1.21%
Dividend Payout Ratio (TTM)	700.00%	41.83%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Linde (LIN) trades at 34.21 times trailing earnings, ranked against its peers, while Dow (DOW) has no P/E ratio this period.

DOW

Materials industry group

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93
DOW: --

LIN

Materials industry group

34.21

Max: 59.00
LIN: 34.21
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

Dow (DOW) vs. Linde (LIN): DOW does not report P/E ratio, so it has no value marker; LIN is benchmarked against the Materials industry group.

P/S Ratio (TTM)

Dow (DOW) at 0.53 looks cheap on sales in the lower P/S ratio quartile, while Linde (LIN) at 6.53 looks rich in the upper quartile — a clear gap in price per dollar of revenue.

DOW

Materials industry group

0.53

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
DOW: 0.53
Min: 0.00

LIN

Materials industry group

6.53

Max: 9.62
LIN: 6.53
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

Dow (DOW) vs. Linde (LIN): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

Dow (DOW) at 1.41 is valued about in line with its industry on P/B ratio, while Linde (LIN) at 6.00 carries an above-peer premium to book — LIN is pricier on assets.

DOW

Materials industry group

1.41

Max: 6.59
Q3: 3.55
Median: 2.08
DOW: 1.41
Q1: 1.26
Min: -0.17

LIN

Materials industry group

6.00

Max: 6.59
LIN: 6.00
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

Dow (DOW) vs. Linde (LIN): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Dow (DOW) and Linde (LIN)
Metric	DOW	LIN
P/E Ratio (TTM)	--	34.21
P/S Ratio (TTM)	0.53	6.53
P/B Ratio (MRQ)	1.41	6.00
Free Cash Flow Yield (TTM)	3.95%	1.77%