DuPont de Nemours, Inc. (DD): Business Model Canvas [Dec-2025 Updated]

You're looking at a company that just finished a massive portfolio cleanup, shedding non-core assets to zero in on high-margin specialty plays like water purification and healthcare materials. Honestly, after all those moves, understanding the new engine room is key, especially when you see the full-year 2025 Net Sales guidance pegged around $6.84 billion for the 'New' entity, even while managing big liabilities like the $2 billion PFAS settlement. This Business Model Canvas breaks down exactly how this transformed industrial giant plans to generate revenue from its core IP-think Tyvek and Nomex-and where the costs are really landing now. Dive in below to see the nine blocks defining their strategy.

DuPont de Nemours, Inc. (DD) - Canvas Business Model: Key Partnerships

Strategic bolt-on acquisitions to expand core capabilities

DuPont de Nemours, Inc. continues to refine its portfolio, a process involving both divestitures and acquisitions to focus on high-growth, high-margin areas. The company completed the intended separation of its Electronics business, Qnity Electronics, Inc., on November 1, 2025. This follows the announced definitive agreement to sell the aramids business to TJC LP for cash proceeds of approximately $1.2 billion, a note in the principal amount of $300 million, and an Equity Consideration valued at $325 million in the future Arclin holding company.

This strategic optimization builds on prior moves, such as the acquisition of Rogers Corporation for $5.2 billion, which was expected to yield approximately $115 million in pre-tax run-rate cost synergies by the end of 2023.

The post-spin-off DuPont has a Minimum EBITDA requirement reset to $1.4 billion.

• The company is increasingly focused on healthcare, which benefits from a market projected to exceed $192 billion by 2033.
• R&D expenses in Q3 2025 were $140 million.
• For the full year 2025, DuPont estimates net sales of about $6.865 billion.

Joint development with key customers for specialized material applications

DuPont de Nemours, Inc. engages in deep customer intimacy to tailor solutions, particularly in high-tech sectors. For instance, in electronics, the focus is on advanced interconnect solutions for IC substrate, advanced printed circuit boards (PCB), and advanced packaging, where the global IC substrate market is experiencing surging demand driven by the expanding AI ecosystem.

In the healthcare segment, a strategic expansion in Costa Rica in June 2025 added new sterile packaging and medical tubing capabilities.

Collaboration with Aero Tec Laboratories for Kevlar fuel bladders

The collaboration with Aero Tec Laboratories (ATL), announced in October 2024, utilizes DuPont™ Kevlar® EXO™ to revolutionize racing fuel bladders. This material represents DuPont de Nemours, Inc.'s biggest fiber innovation in over 50 years.

The partnership plans to expand to NASCAR, IndyCar, and Le Mans.

Global suppliers for critical raw materials and feedstocks

DuPont de Nemours, Inc. evaluates its direct suppliers, which include suppliers of raw materials, packaging, or contract manufacturing services, based on criteria like contract value and geopolitical risks. The company has made significant progress in supply chain sustainability, achieving a 60% reduction in Scope 3 emissions from purchased goods and services in 2024, surpassing the 2030 goal of a 25% reduction.

The company maintains a large global manufacturing footprint, with 60 facilities in the U.S. and 28 in Canada as of its Q4 2024 filing.

Local-for-local manufacturing partners, like the China RO capacity acquisition

DuPont de Nemours, Inc. is actively expanding regional capacity to enhance customer responsiveness. On November 18, 2025, the company broke ground on a new MOLYKOTE® specialty lubricants manufacturing plant in Zhangjiagang, Jiangsu Province, China. This new unit is expected to be operational by early 2027.

This move supports strong customer demand in China across transportation, industrial, energy, and electronics. For context, China and Hong Kong represented net sales of $587 million in the first quarter of 2025, nearly half of the Asia Pacific region's sales.

• China manufacturing sites include locations in Beijing, Chengdu, Guangzhou, Shanghai, Shenzhen, Shunde, and Tianjin.
• In Q1 2025, export sales from the U.S. to China were mitigated by moving intermediate products into the country for final completion before shipping to a customer.

DuPont de Nemours, Inc. (DD) - Canvas Business Model: Key Activities

Research and development (R&D) of new material science technologies

DuPont de Nemours, Inc. sustained investment in innovation, reflected in its R&D spending trajectory leading into late 2025. Research and development expenses for the twelve months ending September 30, 2025, totaled \$564M, marking a 9.73% increase year-over-year. This investment supports the pipeline for core markets. For context, annual R&D expenses in 2023 were \$0.508B.

• Launched more than 30 new product offerings in 2024 that delivered sustainability and performance advantages.
• Received eight R&D 100 and Edison Awards in 2024 for products delivering positive performance and sustainability benefits.
• Greater than 75% of the innovation portfolio is expected to deliver sustainability value for customers based on an updated proprietary analysis.

Manufacturing high-performance specialty materials globally

DuPont de Nemours, Inc. operates a global manufacturing footprint, with approximately 110 manufacturing sites in more than 50 countries as of the 2025 Sustainability Report. The company's operational focus is on high-growth sectors like healthcare and water purification. For instance, in June 2025, DuPont announced a 16,000-square-foot expansion of its healthcare manufacturing facility in Costa Rica to introduce new sterile packaging and medical tubing capabilities.

The company's segment performance in Q3 2025 demonstrated this activity's output, with organic sales growth of 4% for the total company. The ElectronicsCo segment saw organic sales up 6% in Q2 2025, driven by an 8% increase in volume.

Operational execution and cost discipline for margin expansion

Operational execution is a central activity, driving margin expansion across the remaining businesses following portfolio changes. In the second quarter of 2025, the operating EBITDA margin reached 26.4%, a 120 basis points year-over-year increase, driven by organic growth and productivity benefits. For the third quarter of 2025, Net Sales were \$3,072 million and Operating EBITDA was \$840 million, equating to an operating EBITDA margin of approximately 27.34%. The company also delivered transaction-adjusted free cash flow of \$576 million in Q3 2025, achieving a conversion rate of 126%.

The medium-term financial targets project continued discipline, aiming for 150-200 basis points improvement in operating EBITDA margin through full year 2028 on a pro forma basis.

Active portfolio management (divestitures like Aramids, spin-offs like Qnity)

Active portfolio management is a defining activity of DuPont de Nemours, Inc. in 2025, focusing on streamlining the portfolio into a more focused, higher-growth entity. The intended separation of the Electronics business into Qnity was targeted for November 1, 2025. Furthermore, the definitive agreement to divest the Aramids business was announced on August 29, 2025, with an expected close in the first quarter of 2026. The Aramids business generated net sales of \$1.3 billion in 2024.

The financial components of the Aramids Divestiture are detailed below:

The financial results for the Aramids business began being reflected as discontinued operations starting in the third quarter of 2025.

Maintaining a robust business system for continuous improvement

DuPont de Nemours, Inc. is codifying its innovation, operational, and commercial excellence models into a business system designed to drive continuous improvement. This focus is explicitly cited as a driver for strong financial performance. The company's commitment to its environmental targets is also managed through this system, with 84% of manufacturing sites achieving zero injury performance in 2024, and 41 sites operating on 100% renewable electricity.

• Achieved a 66% reduction in Scopes 1 and 2 emissions from the 2019 baseline by May 2025, surpassing the 2030 target.
• Recorded a 60% reduction in Scope 3 emissions from purchased goods and services and end-of-life product impacts, surpassing the 2030 goal ahead of schedule.
• 87% of employees surveyed in 2024 reported feeling able to talk freely to their manager about legal or ethical concerns.

DuPont de Nemours, Inc. (DD) - Canvas Business Model: Key Resources

You're looking at the core assets DuPont de Nemours, Inc. (DD) is leaning on as of late 2025, post-Qnity spin-off. These aren't abstract concepts; they are hard numbers and tangible assets that drive the business.

Intellectual property and patents for brands like Tyvek, Nomex, and Kevlar

The intellectual property estate remains a bedrock resource. As of December 31, 2024, DuPont owned about 12,800 patents and patent applications globally. To be precise, approximately 80 percent of this patent estate has a remaining term of more than 5 years. Another data point suggests a total of 16,829 patents globally, with 10,632 active patents.

The value of this IP is tied to iconic brands, which include:

• Tyvek
• Nomex
• Kevlar
• Teflon
• Nylon

Global manufacturing and production footprint

DuPont de Nemours, Inc. maintains a global footprint, though specific site counts for late 2025 aren't immediately available. Historically, the company had 150 research and development facilities located across China, Brazil, India, Germany, and Switzerland as of October 2001. The current structure, post-Qnity separation, relies on a global network of Technical & Applications centers, manufacturing sites, offices, and labs to serve its markets.

Deep scientific and material science talent pool

The human capital is quantified by the total workforce and investment in future innovation. For the fiscal year 2025, DuPont de Nemours, Inc.'s total number of employees was 24,000. The commitment to science is reflected in the spending figures; Research and Development expenses for the twelve months ending September 30, 2025, totaled $564 million.

Here's a quick look at the financial commitment to R&D:

Strong balance sheet for targeted inorganic investments

Following recent portfolio moves, the balance sheet is positioned for stability and strategic action. The company's debt management is viewed positively, evidenced by a debt-to-equity ratio of 0.31. Furthermore, S&P Global Ratings expects DuPont's adjusted debt to EBITDA will remain consistent within the 1.5x-2.0x range through a complete business cycle.

The company also authorized a $2 billion share repurchase program in November 2025.

$4.2 billion cash dividend received from the Qnity spin-off

The separation of the Electronics business, Qnity Electronics, Inc., provided a significant immediate cash inflow to DuPont de Nemours, Inc. The Qnity Board declared a cash dividend payable to DuPont shareholders, which consisted of two main components:

• Cash dividend of approximately $4.122 billion
• Pre-funded interest deposit of approximately $66 million

This resulted in a total cash benefit to DuPont of approximately $4.188 billion, aligning with the reported figure of nearly $4.2 billion received at the time of the November 1, 2025, spin-off.

DuPont de Nemours, Inc. (DD) - Canvas Business Model: Value Propositions

You're looking at the core offerings that DuPont de Nemours, Inc. is delivering to its customers as of late 2025, right before the planned separation of its electronics business. These value propositions are the tangible benefits driving the company's financial performance, which saw estimated full-year 2025 net sales guidance of $12.85 billion.

High-performance protection and safety solutions (e.g., Tyvek for PPE)

DuPont de Nemours, Inc. provides essential protection through materials like Tyvek, which is critical in medical packaging and personal protective equipment (PPE). The Water & Protection segment, which houses these solutions, posted net sales of approximately $1.4 billion in the fourth quarter of 2024.

• Safety Solutions sales grew at a high-single-digit organic rate in Q4 2024, driven by medical packaging volume gains.
• The Medical Segment held the largest share, 32%, in the overall HDPE Nonwovens (Tyvek) Market in 2023.
• Tyvek sales to China in 2024 were reported at $90 million, representing less than 1% of that year's total consolidated net sales.

Advanced water purification and separation technologies (Reverse Osmosis membranes)

The strength in water technologies is a key value driver for the 'New DuPont' portfolio post-spin. In the third quarter of 2025, the combined Healthcare & Water Technologies business delivered sales growth in the high-single digits organically.

This growth is directly tied to the performance of core separation technologies.

Specialty materials for healthcare and biopharma end-markets

The focus on healthcare and biopharma is a clear source of resilience, offsetting weakness elsewhere. In Q3 2025, volume gains were specifically noted for medical packaging and biopharma applications within the Healthcare & Water Technologies unit.

For the full year 2025, the industrial co-segment (IndustrialsCo, which includes this area) was projected to see sales increase up to 4%, supported by strong demand for medical devices and applications.

Enabling technologies for advanced node semiconductor manufacturing (until spin-off)

This high-growth area, slated to spin off as Qnity Electronics, Inc. on November 1, 2025, shows premium performance metrics. Its value proposition is enabling the AI and advanced node revolution.

The segment's financial strength is evident when you compare its margins to the rest of the business.

• Q2 2025 Operating EBITDA Margin for the ElectronicsCo segment was 31.9%.
• This compares to the IndustrialsCo segment's margin of 24.4% in the same quarter.
• Semiconductor Technologies sales grew organically in the high-single digits in Q3 2025.
• Interconnect Solutions sales saw low-teens organic growth in Q3 2025.
• In Q1 2025, the ElectronicsCo segment delivered 14% organic sales growth.

Sustainable and durable solutions for construction and transportation

This area, primarily within the Diversified Industrials part of the portfolio, faces near-term headwinds, showing a more stable, lower-growth value proposition compared to electronics.

The performance here directly impacts the IndustrialsCo segment.

• Diversified Industrials sales fell in the low single digits in Q2 2025 due to persistent weakness in construction markets.
• Shelter Solutions sales were flat on an organic basis in Q4 2024 because of North America construction headwinds.

Finance: draft 13-week cash view by Friday.

DuPont de Nemours, Inc. (DD) - Canvas Business Model: Customer Relationships

You're looking at how DuPont de Nemours, Inc. maintains its grip on high-value industrial and technology markets, especially after the November 1, 2025, separation of its Electronics business, Qnity. The relationships are built on deep technical partnership, not just transactional sales.

Dedicated B2B sales force and technical service for complex solutions

DuPont de Nemours, Inc. focuses its commercial efforts on markets like healthcare and water, which require specialized material science expertise. The scale of the business these relationships support is significant; for the recast New DuPont structure, estimated full year 2025 Net Sales were about $6.865 billion, with an Operating EBITDA of about $1.575 billion. This scale necessitates a highly specialized, dedicated B2B sales force capable of providing in-depth technical service.

• Launched more than 30 new product offerings in 2025 that delivered sustainability and performance advantages for customers.
• The company received the 2024 Best Partner Award for Innovation from Samsung Electronics, underscoring success in technical collaboration.

Long-term, consultative relationships with large industrial customers

The strategy centers on being an indispensable supplier in secular growth trends. This consultative approach is how DuPont de Nemours, Inc. aims to achieve its medium-term goal of a 3-4% organic sales growth CAGR through 2028. The focus on high-demand areas like healthcare and water, which saw strong organic sales growth, suggests these relationships are sticky and value-driven rather than price-driven.

Co-development of custom material formulations with OEMs

The innovation pipeline directly reflects co-development efforts. The commitment to R&D fuels the creation of tailored materials. For instance, the company's mission is to empower the world with essential innovations, which requires deep integration with Original Equipment Manufacturers (OEMs) to solve specific engineering challenges. This is the engine behind the reported new product launches.

The strategic shift post-separation is designed to accelerate value creation by focusing on core competencies in innovation and deep customer relationships. The company is defintely using these deep ties to drive its expected 8-10% adjusted EPS growth CAGR through 2028.

Self-service and digital tools for order management and product information

While the core of the relationship is technical and consultative, DuPont de Nemours, Inc. supports efficiency through digital channels. The company is focused on operational excellence to support its commercial model. The financial context for the entire operation in late 2025 is substantial, with a quarterly dividend of $0.20 per share declared in November 2025 and a new share repurchase authorization of up to $2 billion, reflecting confidence in the underlying business stability supported by these customer interactions.

DuPont de Nemours, Inc. (DD) - Canvas Business Model: Channels

You need to see the scale of the operation to understand how DuPont de Nemours, Inc. gets its products to market as of late 2025. The structure is a blend of direct engagement for key accounts and a broad partner network.

Direct sales to large industrial and manufacturing customers are the backbone for the high-value segments. This channel supports the core of the retained DuPont business, focused on Water & Protection, and supported the ElectronicsCo business until its November 1, 2025, separation into Qnity. For the twelve months ending September 30, 2025, consolidated net sales reached $12.817B. The Water & Protection segment, which is the core of the new DuPont, showed organic sales growth of 6% in the fourth quarter of 2024, and high-single digits organic growth in the second quarter of 2025, indicating strong direct engagement in those markets.

The global network of authorized distributors and value-added resellers is crucial for market breadth. This network partners with DuPont de Nemours, Inc.'s sales and marketing organization, including independent retailers, cooperatives, and agents worldwide. While a specific revenue split isn't public, this channel supports the overall sales volume. The company had 418,049,127 shares of common stock outstanding as of February 12, 2025, reflecting the scale of the entity supporting this network.

For e-commerce platforms for certain product lines and samples, specific revenue figures aren't broken out, but the focus on high-tech areas suggests digital support for technical sales. For example, Interconnect Solutions sales saw growth of low-teens on an organic basis in the third quarter of 2025, driven by AI ramps, which often involves direct technical consultation supported by digital tools for samples and initial orders.

The regional manufacturing and distribution centers (local-for-local strategy) are evident in the geographic performance. The company's structure is clearly regionalized for service delivery. In the first quarter of 2025, Asia Pacific delivered 13% organic sales growth, while the U.S. & Canada saw flat organic sales growth. This regional variance shows where local distribution and service capacity are most effectively driving sales volume.

Here's a quick look at the financial scale underpinning these channel activities through the third quarter of 2025:

The channel mix is designed to capture both the large, strategic, direct-sale opportunities and the necessary breadth provided by partners.

• Most products are marketed primarily through the Company's sales organization.
• The worldwide network includes distributors, independent retailers, cooperatives, and agents.
• Regional performance varies, with Asia Pacific showing 11% organic sales growth in Q2 2025.
• The Electronics Separation to Qnity was targeted for November 1, 2025, shifting a major product line's channel management.

DuPont de Nemours, Inc. (DD) - Canvas Business Model: Customer Segments

You're looking at the core markets DuPont de Nemours, Inc. serves after its major 2025 realignment, which separated the Electronics business into Qnity Electronics, Inc. The remaining core business, now largely structured under IndustrialsCo (which includes the former Water & Protection segment plus healthcare and non-electronics businesses), focuses on these key customer groups. The total trailing twelve months (TTM) revenue as of September 30, 2025, stood at $12.817B.

The customer base is served through distinct, high-value material science applications. For instance, in the third quarter of 2025, the combined Healthcare & Water Technologies business showed sales growth in the high-single digits organically, signaling strong demand from these end-markets. Conversely, the Diversified Industrials portion, which includes construction-related markets, saw only low-single digit organic sales growth in the same period, reflecting ongoing softness in construction.

Here's a look at the financial context for the segments housing these customers based on recent performance:

Water treatment and purification companies represent a significant, established customer base, even after the planned spin-off was cancelled in January 2025. The Water business generated approximately $1.5 billion in net sales in 2023, which informs the current customer mix within the post-realignment structure.

• Water treatment and purification companies (industrial and municipal)
• Healthcare and biopharma manufacturers
• Safety and Personal Protective Equipment (PPE) producers
• Diversified industrial end-markets (e.g., automotive, construction)

The composition of the former Water business highlights the diversity within that specific customer group as of 2023 data:

• Industrial and energy companies: account for about half of water revenues.
• Municipal/desalination markets: account for roughly one-fifth of sales.
• Life sciences/specialty markets: account for roughly one-fifth of sales.

For Safety and PPE producers, the underlying materials science is embedded within the IndustrialsCo segment, which saw 2% organic sales growth in Q1 2025 and 1% in Q2 2025. Automotive end-markets are also served through specific product lines now residing in IndustrialsCo, such as the Auto Adhesives & Fluids business.

Healthcare and biopharma manufacturers are key volume drivers, with their related sales (grouped with Water) showing high-single digit organic growth in Q3 2025, supported by growth in medical packaging and biopharma solutions. This contrasts with the overall IndustrialsCo organic growth of 4% in Q3 2025 (or 2% excluding order timing benefits). Finance: draft 13-week cash view by Friday.

DuPont de Nemours, Inc. (DD) - Canvas Business Model: Cost Structure

You're looking at the major drains on DuPont de Nemours, Inc.'s cash flow as of late 2025. Honestly, for a company this size, the cost structure is a complex mix of operational necessities and significant, one-time liabilities.

Cost of Goods Sold (COGS) Sensitivity

The core cost of making and selling products, the Cost of Goods Sold, remains heavily influenced by the volatile global market for inputs. While specific 2025 COGS figures are part of ongoing reporting, the trailing twelve months (TTM) figure leading up to September 2025 gives you a solid baseline. You'll want to watch energy contracts closely, as they directly feed into production costs across all segments.

Here's a look at the recent trend in COGS:

• TTM Cost of Goods Sold (ending September 2025): $8.076 billion.
• 5-year peak COGS (December 2022): $8.402 billion.
• 5-year low COGS (December 2020): $7.063 billion.

Investment in Growth and Operations

DuPont de Nemours, Inc. continues to fund its future through substantial spending on innovation and maintaining its asset base. Research & Development (R&D) is a non-negotiable cost for a technology leader, and Capital Expenditures (CapEx) reflect ongoing modernization and capacity needs, especially in high-growth areas like electronics.

For instance, looking at the first quarter of 2025, the company reported CapEx of $249 million. You know R&D expenses are tracked quarterly, but the commitment to innovation is a constant, heavy line item in the operating budget.

Selling, General, and Administrative (SG&A) Footprint

Managing a global operation means SG&A expenses are substantial, covering everything from sales teams to corporate overhead across its worldwide footprint. This cost category reflects the necessary infrastructure to support global sales and administrative functions.

The latest reported figure for SG&A shows the scale of this overhead:

The annual SG&A for the full year 2024 was $1.552 billion, so the TTM figure suggests a slight moderation in the rate of growth, which is positive for margin control.

Environmental and Legal Remediation Liabilities

This is where large, non-operational costs can significantly impact reported earnings. The environmental liabilities, particularly concerning PFAS contamination, represent a major structural cost. The settlement with New Jersey is a prime example of this exposure.

The New Jersey PFAS settlement, valued at over $2 billion, is split among DuPont de Nemours, Inc., Chemours Company, and Corteva, Inc. Here's the breakdown of the components related to this agreement:

• Total Settlement Value: Over $2 billion.
• Damages Paid to State (over 25 years): $875 million.
• Remediation Fund (up to): $1.2 billion.
• Reserve Fund for Failure to Complete Work (additional): $475 million.

This settlement resolves all pending environmental and other claims for legacy contamination at four specific sites in the state. It's a concrete, multi-year financial commitment you need to factor in.

Net Tariff Exposure

Trade policy creates direct cost headwinds that the company actively works to mitigate. For fiscal year 2025, DuPont de Nemours, Inc. has explicitly guided for a net tariff impact that needs to be absorbed.

The estimated net tariff exposure for FY25 is set at approximately $60 million. To give you context on the mitigation efforts, the company stated that without these actions, the annualized cost exposure could have been an estimated $500 million for the year. Furthermore, the guidance for the second half of 2025 specifically incorporated a net tariff headwind of about $20 million.

Finance: draft 13-week cash view by Friday.

DuPont de Nemours, Inc. (DD) - Canvas Business Model: Revenue Streams

You're looking at how DuPont de Nemours, Inc. (DD) brings in money, which is all about selling specialized materials and technologies across key industrial and life science markets. Honestly, the revenue picture right now is shaped by recent corporate separations, so we focus on the 'new DuPont' structure.

The core of the revenue generation comes from two main operational segments, which you can see reflected in their recent performance. For instance, in the third quarter of 2025, DuPont posted total Net Sales of $3.1 billion.

Here's a look at the segment-specific sales contributions based on recent activity:

• Sales of specialty products from the Healthcare & Water Technologies segment showed robust performance, delivering high-single-digit organic growth in the third quarter of 2025.
• Sales of materials from the Diversified Industrials segment posted growth on an organic basis in the low single-digit range for the same period.

To give you the forward-looking picture for the full fiscal year 2025, the company has set specific targets for the 'new DuPont' entity. We can lay out the key financial expectations here:

The expected 2% organic sales growth for full-year 2025 is projected to be volume-driven, which tells us they are moving more product, even if pricing is a slight headwind. This is the top-line target they are working toward.

Beyond the operational sales, DuPont de Nemours, Inc. is also focused on returning capital directly to its owners. This is a key part of the overall financial structure you need to track:

• Return of capital to shareholders via a quarterly dividend set at $0.20 per share.
• This dividend is in line with the targeted 35-45% payout ratio for the new structure.

Finance: draft 13-week cash view by Friday.