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diff --git a/Finance/Tickers/DD.md b/Finance/Tickers/DD.md index 5897c28..8af3bc5 100644 --- a/Finance/Tickers/DD.md +++ b/Finance/Tickers/DD.md @@ -1,3 +1,35 @@ # DUPONT DE NEMOURS, INC. - NYSE:DD + +With the completion of the Qnity Electronics (NYSE: Q) spin-off on November 1, 2025, and the pending divestiture of the Aramids (Kevlar/Nomex) business, DuPont has shed its most cyclical and capital-intensive assets. +Qnity Spin-Off (Completed Nov 1, 2025): The cyclical semiconductor/electronics materials business is now independent. DuPont shareholders received 1 share of Qnity for every 2 shares of DD. This removes semiconductor cycle volatility from DD’s profile. + + +Aramids Divestiture (Signed Aug 2025, Closing Q1 2026): Agreed to sell the Kevlar/Nomex business to Arclin (TJC) for ~$1.8 billion. This exits the defense/law enforcement fiber market, further reducing cyclical exposure + +What remains is focused on Water, Healthcare, and Protection. +The “New DuPont” is no longer a sprawling chemical conglomerate. It generates revenue through a focused portfolio centered on secular growth themes: clean water, medical safety, and sustainable shelter. + +--- +Water Solutions: A global leader in reverse osmosis (RO) membranes and ion exchange resins. Generates recurring revenue from consumables used in desalination, wastewater reuse, and ultra-pure water for manufacturing. + +DuPont’s water business is a scaled, tech-heavy filtration and separation platform built around membranes and resins that sit at the core of modern water treatment, reuse, and ultra‑pure water systems +Reverse osmosis (RO) and nanofiltration (NF) membranes: Thin‑film composite membranes (branded FilmTec) used for desalination, brackish water treatment, and high‑purity industrial water. +Ultrafiltration (UF) / membrane bioreactors (MBR / MABR): Hollow‑fiber and PVDF membranes for particle, bacteria, and virus removal, often used as pretreatment to RO or as tertiary treatment in wastewater reuse projects. +Ion exchange (IX) resins: Cation/anion resins for softening, demineralization, and selective contaminant removal (e.g., nitrate, heavy metals); also used in industrial boiler feed and power plants. + +Revenue is generated from both original equipment (membrane modules, IX resin charges, UF skids) and recurring consumables and replacement cycles, as membranes and resins require periodic replacement depending on fouling and operating conditions. + +End market: Municipal water and desalination, Industrial and power, Microelectronics and high‑purity, Healthcare and bioprocessing, Residential & commercial + +--- +Safety & Protection (Ex-Aramids): With the bullet-resistant vest business (Kevlar) being sold, this sub-segment now focuses heavily on Tyvek, a proprietary high-margin material used in medical sterile packaging (essential for devices/pharma) and construction (home wrap/weatherization). + +--- +Industrial Solutions (Retained): Includes diverse, high-value specialty lines such as Tedlar (aerospace/solar films) and other adhesives/fluids that service healthcare and advanced mobility niches. + + +# Quantitative + + DuPont trades at a discount to pure-play water peers (e.g., Xylem, often >20x EBITDA) and medical packaging peers (e.g., West Pharma), but at a premium to commodity chemical firms (Dow, LyondellBasell ~7-8x). |