DuPont de Nemours, Inc.

Basic MaterialsChemicals - SpecialtyNYSE

$50.59

Market Cap: $20.74B

DuPont de Nemours, Inc. (DD) Valuation Summary

Updated Apr 28, 2026 22:22

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$24.63 – $133.62	$42.39	-6.5%
Growth Exit 10Y	$16.77 – $71.66	$26.06	-42.5%
EBITDA Exit 5Y	$31.44 – $58.33	$43.80	-3.4%
EBITDA Exit 10Y	$21.22 – $40.35	$29.47	-35.0%
▸ Trading Multiples
P/E	—	N/A	—
EV/EBITDA	$33.94 – $79.93	$53.79	+18.7%
EV/Revenue	$17.39 – $69.49	$44.53	-1.8%
▸ PEG
PEG Fair Value	—	N/A	—
▸ Earnings Power Value
Earnings Power Value	$10.80 – $17.98	$13.75	-69.7%
▸ Dividend Discount
Dividend Discount	—	N/A	—

Valuation History

DCF Analysis

Fair Value

$42.39

Market Price

$50.59

Upside / Downside

-16.2%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project DuPont de Nemours, Inc.'s cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 3.8% to -10.0% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 72, DPO 80, DIO 92). At a 8.4% WACC with mid-year discounting, the terminal value (79% of enterprise value) is derived from the Gordon Growth Model on Year 6 FCFF at a 4.0% perpetual rate. After subtracting net debt, the equity value implies a fair price of $42.39 per share, suggesting DD is overvalued by 16.2% at the current price of $50.59.

FCFF Present Value Calculation

WACC

8.44%

3% – 20%

Terminal Growth

4.00%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	756	786	813	849	764	795
(−) Net Interest	267	277	287	300	270	280
(+) D&A	633	533	465	426	397	413
EBITDA	1,656	1,596	1,565	1,575	1,432	1,489

(−) Tax	186	193	200	209	188	196
(−) CapEx	390	406	420	438	395	410
(−) ΔWC	-282	61	56	76	-176	-183
Free Cash Flow (FCFF)	1,362	936	889	851	1,024	1,065

Terminal Value						23,980
WACC / Discount Rate	8.4%
Long-term Growth Rate	4.0%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	1,308	829	726	641	711	15,991

Enterprise Value	20,206
Projection Period	4,215	20.9%
Terminal Value	15,991	79.1%

(−) Current Net Debt	2,437

Equity Value	17,769
(/) Outstanding Shares	419

Fair Price	$42.39

Sensitivity Analysis

WACC \ Terminal Growth Rate	3.0%	3.5%	4.0%	4.5%	5.0%
6.4%	$59	$68	$81	$100	$134
7.4%	$44	$49	$56	$65	$77
8.4%	$35	$39	$42	$47	$53
9.4%	$29	$31	$34	$37	$40
10.4%	$25	$26	$28	$30	$32

Current price: $50.59. Green = undervalued, Red = overvalued.

Fair Value

$26.06

Market Price

$50.59

Upside / Downside

-48.5%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project DuPont de Nemours, Inc.'s cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 3.8% to -0.4% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 72, DPO 80, DIO 92). At a 8.4% WACC with mid-year discounting, the terminal value (51% of enterprise value) is derived from the Gordon Growth Model on Year 11 FCFF at a 4.0% perpetual rate. After subtracting net debt, the equity value implies a fair price of $26.06 per share, suggesting DD is overvalued by 48.5% at the current price of $50.59.

FCFF Present Value Calculation

WACC

8.44%

3% – 20%

Terminal Growth

4.00%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	756	786	813	849	764	688	619	574	552	550	572
(−) Net Interest	267	277	287	300	270	243	218	203	195	194	202
(+) D&A	633	533	465	426	397	410	403	386	361	330	343
EBITDA	1,656	1,596	1,565	1,575	1,432	1,340	1,240	1,162	1,108	1,074	1,117

(−) Tax	186	193	200	209	188	169	152	141	136	135	141
(−) CapEx	390	406	420	438	395	355	320	296	285	284	295
(−) ΔWC	-282	61	56	76	-176	-158	-142	-93	-45	-5	-5
Free Cash Flow (FCFF)	1,362	936	889	851	1,024	974	910	817	732	660	686

Terminal Value											15,444
WACC / Discount Rate	8.4%
Long-term Growth Rate	4.0%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	1,308	829	726	641	711	624	538	445	368	305	6,867

Enterprise Value	13,362
Projection Period	6,494	48.6%
Terminal Value	6,867	51.4%

(−) Current Net Debt	2,437

Equity Value	10,925
(/) Outstanding Shares	419

Fair Price	$26.06

Sensitivity Analysis

WACC \ Terminal Growth Rate	3.0%	3.5%	4.0%	4.5%	5.0%
6.4%	$36	$41	$47	$56	$72
7.4%	$28	$31	$33	$37	$43
8.4%	$23	$24	$26	$28	$31
9.4%	$19	$20	$21	$23	$24
10.4%	$17	$17	$18	$19	$20

Current price: $50.59. Green = undervalued, Red = overvalued.

Fair Value

$43.80

Market Price

$50.59

Upside / Downside

-13.4%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project DuPont de Nemours, Inc.'s cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 3.8% to -10.0% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 72, DPO 80, DIO 92). At a 8.4% WACC with mid-year discounting, the terminal value (80% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 16.9x to Year 6 EBITDA. After subtracting net debt, the equity value implies a fair price of $43.80 per share, suggesting DD is fairly valued by 13.4% at the current price of $50.59.

FCFF Present Value Calculation

WACC

8.44%

3% – 20%

EV/EBITDA Exit Multiple

16.95x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	756	786	813	849	764	784
(−) Net Interest	267	277	287	300	270	276
(+) D&A	633	533	465	426	397	407
EBITDA	1,656	1,596	1,565	1,575	1,432	1,467

(−) Tax	186	193	200	209	188	—
(−) CapEx	390	406	420	438	395	—
(−) ΔWC	-282	61	56	76	-176	—
Free Cash Flow (FCF)	1,362	936	889	851	1,024	—

Peers' EBITDA Multiple						16.9x
Terminal Value						24,871
WACC / Discount Rate	8.44%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	1,308	829	726	641	711	16,585

Enterprise Value	20,800
Projection Period	4,215	20.3%
Terminal Value	16,585	79.7%

(−) Current Net Debt	2,437
Equity Value	18,363
(÷) Outstanding Shares	419M
Fair Price	$44	-13.4%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	12.9x	14.9x	16.9x	18.9x	20.9x
6.4%	$38	$43	$48	$53	$58
7.4%	$36	$41	$46	$51	$56
8.4%	$34	$39	$44	$48	$53
9.4%	$33	$37	$42	$46	$51
10.4%	$31	$36	$40	$44	$48

Current price: $50.59. Green = undervalued, Red = overvalued.

Based on default parameters

Fair Value

$29.48

Market Price

$50.59

Upside / Downside

-41.7%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project DuPont de Nemours, Inc.'s cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 3.8% to -0.4% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 72, DPO 80, DIO 92). At a 8.4% WACC with mid-year discounting, the terminal value (56% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 16.9x to Year 11 EBITDA. After subtracting net debt, the equity value implies a fair price of $29.47 per share, suggesting DD is overvalued by 41.7% at the current price of $50.59.

FCFF Present Value Calculation

WACC

8.44%

3% – 20%

EV/EBITDA Exit Multiple

16.95x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	756	786	813	849	764	688	619	574	552	550	564
(−) Net Interest	267	277	287	300	270	243	218	203	195	194	199
(+) D&A	633	533	465	426	397	410	403	386	361	330	338
EBITDA	1,656	1,596	1,565	1,575	1,432	1,340	1,240	1,162	1,108	1,074	1,101

(−) Tax	186	193	200	209	188	169	152	141	136	135	—
(−) CapEx	390	406	420	438	395	355	320	296	285	284	—
(−) ΔWC	-282	61	56	76	-176	-158	-142	-93	-45	-5	—
Free Cash Flow (FCF)	1,362	936	889	851	1,024	974	910	817	732	660	—

Peers' EBITDA Multiple											16.9x
Terminal Value											18,664
WACC / Discount Rate	8.44%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	1,308	829	726	641	711	624	538	445	368	305	8,299

Enterprise Value	14,794
Projection Period	6,494	43.9%
Terminal Value	8,299	56.1%

(−) Current Net Debt	2,437
Equity Value	12,357
(÷) Outstanding Shares	419M
Fair Price	$29	-41.7%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	12.9x	14.9x	16.9x	18.9x	20.9x
6.4%	$29	$32	$35	$38	$40
7.4%	$27	$29	$32	$35	$37
8.4%	$25	$27	$29	$32	$34
9.4%	$23	$25	$27	$29	$31
10.4%	$21	$23	$25	$27	$29

Current price: $50.59. Green = undervalued, Red = overvalued.

Based on default parameters

Trading Multiples

Fair Value

$53.79

Market Price

$50.59

Upside / Downside

+6.3%

Verdict

Undervalued

Using the industry peer median EV/EBITDA multiple (trailing + forward), DuPont de Nemours, Inc. (DD) has a fair value of $53.79 based on 10 comparable companies in the Chemicals - Specialty industry.

EV/EBITDA Valuation — Chemicals - Specialty

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/EBITDA	Forward EV/EBITDA
DuPont de Nemours, Inc.DD	21,207	20.4x	11.3x
Dow Inc.DOW	27,331	36.3x	33.7x
Sociedad Química y Minera de Chile S.A.SQM	25,541	18.3x	11.4x
LyondellBasell Industries N.V.LYB	23,027	30.0x	22.5x
Albemarle CorporationALB	22,026	31.4x	27.6x
CF Industries Holdings, Inc.CF	18,789	6.3x	5.9x
Reliance Steel & Aluminum Co.RS	18,523	15.6x	14.2x
International Flavors & Fragrances Inc.IFF	18,077	31.0x	31.2x
CEMEX, S.A.B. de C.V.CX	17,599	9.2x	8.7x
Alamos Gold Inc.AGI	17,516	14.4x	9.1x
RPM International Inc.RPM	13,281	14.7x	14.8x
Industry Median		16.9x	14.5x
(*) EBITDA		1,160	2,094
= Enterprise Value		19,660	30,310
(-) Net Debt		2,437	2,437
Equity Value		17,223	27,873
(/) Outstanding shares		419	419
Fair Price		$41	$66

Selected Fair Value (avg of trailing + forward)

$53.79

+6.3%

Fair Value

$44.53

Market Price

$50.59

Upside / Downside

-12.0%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), DuPont de Nemours, Inc. (DD) has a fair value of $44.53 based on 10 comparable companies in the Chemicals - Specialty industry.

EV/Revenue Valuation — Chemicals - Specialty

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
DuPont de Nemours, Inc.DD	21,207	3.5x	1.9x
Dow Inc.DOW	27,331	1.1x	1.0x
Sociedad Química y Minera de Chile S.A.SQM	25,541	6.3x	3.9x
LyondellBasell Industries N.V.LYB	23,027	1.2x	0.9x
Albemarle CorporationALB	22,026	4.6x	4.0x
CF Industries Holdings, Inc.CF	18,789	2.9x	2.7x
Reliance Steel & Aluminum Co.RS	18,523	1.4x	1.3x
International Flavors & Fragrances Inc.IFF	18,077	2.2x	2.2x
CEMEX, S.A.B. de C.V.CX	17,599	1.4x	1.4x
Alamos Gold Inc.AGI	17,516	9.4x	6.0x
RPM International Inc.RPM	13,281	2.2x	2.2x
Industry Median		2.2x	2.2x
(*) Revenue		6,849	12,366
= Enterprise Value		14,996	27,214
(-) Net Debt		2,437	2,437
Equity Value		12,559	24,777
(/) Outstanding shares		419	419
Fair Price		$30	$59

Selected Fair Value (avg of trailing + forward)

$44.53

-12.0%

Earnings Power Value

Fair Value

$13.75

Market Price

$50.59

Upside / Downside

-72.8%

Verdict

Overvalued

Using the Earnings Power Value framework with a WACC of 8.4% and normalized earnings of $692.3M, the company has a fair value of $13.75 per share. The EPV range is $10.80 – $17.98 based on WACC sensitivity (6.9% – 9.9%).

Currency: USD Millions

	Low	Selected	High
Normalized Earnings	692	692	692
(/) WACC	9.9%	8.4%	6.9%
Enterprise Value	6,963	8,200	9,972
(-) Net debt	2,437	2,437	2,437
Equity Value	4,526	5,763	7,535
(/) Outstanding shares	419	419	419
Fair Price	$10.80	$13.75	$17.98

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.