Dow Inc (DOW) is fairly valued and Olin Corp (OLN) is undervalued.
Against our estimates of intrinsic value, OLN trades at the wider discount: a margin of safety of +48%, against +2% for DOW.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 6.6% (average of 2 methods) values the shares at $28.70; the price of $28.20 is 2% below that value, and 84% of that value comes from beyond year five.
Leak Score 21/100 on 7 of 12 signals
Discounting its cash flows at 7.5% (average of 2 methods) values the shares at $32.05; the price of $16.82 is 48% below that value, and 81% of that value comes from beyond year five.
Leak Score 53/100 on 8 of 12 signals
| Metric | DOW | OLN |
|---|---|---|
| Verdict | Fairly valued | Undervalued |
| Price | $28.20 | $16.82 |
| Intrinsic value | $28.70 | $32.05 |
| Margin of safety | +2% | +48% |
| Leak Score | 21/100 (7/12) | 53/100 (8/12) |
| Market cap | $20.4B | $1.9B |
| Revenue growth, 5 years | 0.7% | 3.3% |
| Operating margin | 3.6% | 0.6% |
| Net margin | -3.2% | -2.1% |
| Return on equity | -7.9% | -7.6% |
| Debt to equity | 1.22 | 1.99 |
| Forward P/E | 17.3x | 28.2x |
| P/B | 1.3x | 1.1x |
| Dividend yield | 4.9% | 4.8% |