DD
DuPont de Nemours, Inc.$49.43
Unclear
Target $47.23
Report: Feb 24, 2026Basic Materials • Chemicals - Specialty • Cyclical OperatorSnapshot
Decision-first overview with recommendation, valuation anchor, and current setup.
Company Overview
Research Snapshot
Price History
Pelican View
Current$49.43-4.5%
Rec: UnclearConviction: Medium
Entry Target
$36.33
(27% below current)
Fair Value
$47.23
(4% below current)
Stop Loss
$22.50
(54% below current)
Position Size
Starter
Time Horizon
Transitional (12-24 Months)
Key Metrics
Live Snapshot
Market Data
52 Week High$52.66
52 Week Low$22.50
Avg. 3 Month Volume4.65M
Efficiency
LTM Gross Margin34.5%
LTM EBITDA Margin4.4%
LTM EBIT Margin-5.1%
LTM Operating Margin7.6%
LTM ROA-2.4%
LTM ROE-3.8%
LTM ROIC-2.4%
LTM ROCE-1.2%
Capital Structure
Market Cap (MM)$18.7B
Enterprise Value (MM)$21.2B
Shares Outstanding413.60M
Total Debt (MM)$3.19B
Cash & Equivalents (MM)$757.00M
LTM Net Debt (MM)$2.44B
LTM Net Debt/EBITDA8.6x
Growth
TTM Rev. Growth-39.3%
Last 3-Yr Rev. CAGR-16.7%
Last 3-Yr EBITDA CAGR-66.5%
Last 3-Yr EPS CAGRN/A
Valuation
Street Target Price$70.86
LTM EV/Revenue3.1x
LTM EV/Gross Profit8.5x
LTM EV/EBIT-60.6x
LTM EV/EBITDA71.0x
LTM P/E-24.0x
LTM EV/FCF19.6x
LTM P/FCF17.4x
LTM P/TB1.7x
LTM P/B1.3x
Dividend Yield3.1%
Payout Ratio-76.5%
Executive SummarySituation: Current price is $49.43 versus fair value $47.23 (-4.5% expected return), and valuation confidence is stable. Debate: Bull case depends on Qnity spin-off completion November 1, 2025, provides $4.1B cash for $1.5B buybacks/debt reduction, addressing conglomerate discount at 0.9x P/B. Bear case centers on Prolonged 'lower-for-longer' downturn extends construction weakness (Building Technologies -high single digits), compressing volumes/margins below 4.3% TTM. Conclusion: Recommendation is Unclear; maintain no position until reliability and catalyst evidence improve.
Bull Case
Electronics volumes up 10% Q4 2025 signal inflection with 3% organic growth and 60-80bps margin expansion to 24.2% in 2026; Qnity spin-off yields $4.1B cash for $1.5B buybacks/debt paydown; repairing capital cycle with peer capex discipline supports ROIC recovery from -0.7% TTM.
Bear Case
Construction weakness persists (Building Technologies down high-single-digits); PFAS litigation risk with 13,000+ cases and $65B industry exposure; insider net sales $6.3M last 12 months including CEO 9,011 shares at $39.46.
Key Catalysts
Near-Term (0-6 months)Impact: High
Qnity spin-off completion November 1, 2025, provides $4.1B cash for $1.5B buybacks/debt reduction, addressing conglomerate discount at 0.9x...
Mid-Term (6-18 months)Impact: Critical
Industrial demand inflection with electronics volumes +10% Q4 2025 extending to water (industrial production recovery China).
Long-Term (18+ months)Impact: Moderate
Post-spin-off purity enhances focus on cyclical recovery amid repairing industry cycle; Q4 2025 earnings beat rallied shares 4.25%.
Primary Risks
Concern: High
Prolonged 'lower-for-longer' downturn extends construction weakness (Building Technologies -high single digits), compressing volumes/margins...
Concern: Medium
Leverage stresses balance sheet if coverage falls below 1.0x TTM (-0.32x), triggering covenants or dilution.
Concern: Medium
Stewardship is strong with 85% independent board, through-cycle LTI (60% PSUs on ROIC/TSR), and deleveraging from $13B peak debt; no proxy f...
Recent Activity
2025-11-04SEC Filing (8-K)
+8.85%DuPont completed separation of its electronics business into independent company Qnity Electronics.
2025-04-04SEC Filing (DEFA14A)
-12.76%DuPont de Nemours, Inc. announced its 2025 Annual Meeting of Stockholders to be held on May 22, 2025.
2025-02-11SEC Filing (8-K)
+6.83%DuPont reported Q4 and full-year 2024 results and initiated 2025 guidance while targeting separation of its Electronics business.
2024-05-01SEC Filing (8-K)
+8.04%DuPont reported Q1 2024 results exceeding expectations and raised full-year guidance.
2024-02-06SEC Filing (8-K)
+7.42%DuPont reported Q4 and full-year 2023 financial results, announced a new $1 billion share repurchase program, and increased its quarterly dividend by 6%.
Valuation Table
9.8/10Decision Grade
Scenario Range
$33
Bear
$69
Base
$90
Bull
$49