Dow Inc (DOW) is fairly valued and REX American Resources Corp (REX) is overvalued.
Against our estimates of intrinsic value, DOW trades at the wider discount: a margin of safety of +2%, against -26% for REX.
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 8.4% (average of 3 methods) values the shares at $35.09; the price of $44.25 is 26% above that value, and 78% of that value comes from beyond year five.
Leak Score 65/100 on 8 of 12 signals
| Metric | DOW | REX |
|---|---|---|
| Verdict | Fairly valued | Overvalued |
| Price | $28.20 | $44.25 |
| Intrinsic value | $28.70 | $35.09 |
| Margin of safety | +2% | -26% |
| Leak Score | 21/100 (7/12) | 65/100 (8/12) |
| Market cap | $20.4B | $1.5B |
| Revenue growth, 5 years | 0.7% | 11.7% |
| Operating margin | 3.6% | 15.2% |
| Net margin | -3.2% | 17.6% |
| Return on equity | -7.9% | 19.8% |
| Debt to equity | 1.22 | 0.03 |
| P/E | — | 12.1x |
| Forward P/E | 17.3x | — |
| P/B | 1.3x | 2.2x |
| Dividend yield | 4.9% | — |