DOW · Dow Inc. - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · DOW

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$39.97B	$42.96B	$56.90B	-	$54.97B	$38.54B
Cost of Revenue	$37.44B	$38.36B	$39.74B	$48.34B	$44.19B	$33.35B
Gross Profit	$2.53B	$4.61B	$17.16B	-	$10.78B	$5.20B
R&D	$752.00M	$810.00M	$829.00M	$851.00M	$857.00M	$768.00M
SG&A	$1.39B	$1.58B	$1.63B	$1.68B	$1.65B	$1.47B
Total Operating Expenses	-	-	-	-	-	-
D&A	$2.83B	$2.89B	$2.61B	$2.76B	$2.84B	$2.87B
Operating Income	($2.51B)	$1.60B	$656.00M	$6.09B	$8.14B	$2.07B
Interest Expense	$865.00M	$811.00M	$746.00M	$662.00M	$731.00M	$827.00M
Income Tax	($67.00M)	$399.00M	($4.00M)	$1.45B	$1.74B	$777.00M
Net Income	($2.62B)	$1.12B	$589.00M	$4.58B	$6.31B	$1.23B
EPS - Basic	($3.70)	$1.57	$0.82	$6.32	$8.44	$1.64
EPS - Diluted	($3.70)	$1.57	$0.82	$6.28	$8.38	$1.64

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$3.82B	$2.19B	$2.99B	$3.89B	$2.99B	$5.10B
Accounts Receivable	$4.76B	$4.76B	$4.72B	$5.61B	$6.84B	$4.84B
Inventory	$6.59B	$6.54B	$6.08B	$6.99B	$7.37B	$5.70B
Accounts Payable	$4.15B	$4.85B	$4.53B	$4.94B	$5.58B	$3.76B
Current Assets	$18.06B	$16.59B	$17.61B	$20.48B	$20.85B	$19.08B
Total Assets	$58.54B	$57.31B	$57.97B	$60.60B	$62.99B	$61.47B
Current Liabilities	$9.18B	$10.29B	$9.96B	$11.33B	$13.23B	$11.11B
Long-term Debt	-	-	-	$15.06B	$14.51B	$16.95B
Total Liabilities	-	-	-	-	-	-
Stockholders' Equity	$16.01B	$17.36B	$18.61B	$20.72B	$18.16B	$12.44B
Retained Earnings	$16.78B	$20.91B	$21.77B	$23.18B	$20.62B	$16.36B

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$1.03B	$2.91B	$5.20B	$7.47B	$7.01B	$6.23B
Investing Cash Flow	($2.13B)	($2.37B)	($2.93B)	($2.97B)	($2.91B)	($841.00M)
Financing Cash Flow	$2.51B	($1.17B)	($3.12B)	($3.36B)	($6.07B)	($2.76B)
CapEx	$2.48B	$2.94B	$2.36B	$1.82B	$1.50B	$1.25B
Free Cash Flow	($1.45B)	($26.00M)	$2.84B	$5.65B	$5.51B	$4.97B

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	6.3%	10.7%	30.2%	-	19.6%	13.5%
Operating margin	-6.3%	3.7%	1.2%	-	14.8%	5.4%
EBITDA margin	0.8%	10.5%	5.7%	-	20.0%	12.8%
Net margin	-6.6%	2.6%	1.0%	-	11.5%	3.2%
Free cash flow margin	-3.6%	-0.1%	5.0%	-	10.0%	12.9%
FCF / Net income	0.55	-0.02	4.82	1.23	0.87	4.06
R&D / Revenue	1.9%	1.9%	1.5%	-	1.6%	2.0%
SG&A / Revenue	3.5%	3.7%	2.9%	-	3.0%	3.8%
Effective tax rate	-	26.3%	-0.7%	24.0%	21.6%	38.8%
Return on assets	-4.5%	1.9%	1.0%	7.6%	10.0%	2.0%
Return on equity	-16.4%	6.4%	3.2%	22.1%	34.7%	9.9%
Return on invested capital	-	-	-	12.9%	19.5%	4.3%
Liquidity
Current ratio	1.97	1.61	1.77	1.81	1.58	1.72
Quick ratio	1.25	0.98	1.16	1.19	1.02	1.20
Cash ratio	0.42	0.21	0.30	0.34	0.23	0.46
Leverage
Debt / Equity	-	-	-	0.73	0.80	1.36
Debt / Assets	-	-	-	0.25	0.23	0.28
Debt / EBITDA	-	-	-	1.70	1.32	3.43
Interest coverage	-2.9x	2.0x	0.9x	9.2x	11.1x	2.5x
Equity multiplier	3.66	3.30	3.12	2.93	3.47	4.94
Liabilities / Assets	-	-	-	-	-	-
Efficiency
Asset turnover	0.68	0.75	0.98	-	0.87	0.63
Inventory turnover	5.68	5.86	6.54	6.92	5.99	5.85
Days sales outstanding	43d	40d	30d	-	45d	46d
Days inventory outstanding	64d	62d	56d	53d	61d	62d
Days payable outstanding	40d	46d	42d	37d	46d	41d
Cash conversion cycle	67d	57d	44d	-	60d	67d
Valuation
P / E	-	25.6x	66.9x	8.0x	6.8x	33.8x
P / B	1.0x	1.6x	2.1x	1.8x	2.3x	3.3x
P / S	0.4x	0.7x	0.7x	-	0.8x	1.1x
EV / EBITDA	39.7x	5.8x	11.0x	5.4x	4.9x	10.7x
Growth
Revenue growth (YoY)	-7.0%	-24.5%	-	-	42.6%	-10.3%
Revenue CAGR (3y)	-	-7.9%	13.9%	-	3.5%	-
Revenue CAGR (5y)	0.7%	0.0%	2.8%	-	-	-
Gross profit growth (YoY)	-45.0%	-73.2%	-	-	107.4%	-17.4%
Operating income growth (YoY)	-	143.9%	-89.2%	-25.2%	293.3%	-
Net income growth (YoY)	-	89.5%	-87.1%	-27.4%	415.2%	-
EPS growth (YoY)	-	91.5%	-86.9%	-25.1%	411.0%	-
EPS CAGR (3y)	-	-42.8%	-20.6%	-	13.5%	-
EPS CAGR (5y)	-	-	-32.2%	-	-	-
FCF growth (YoY)	-5465.4%	-	-49.8%	2.6%	10.7%	25.3%
FCF CAGR (5y)	-	-	-	-	-	-
Book value growth (YoY)	-7.8%	-6.7%	-10.2%	14.1%	46.1%	-8.2%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$13.33B total

Packaging Specialty Plastics$5.38B · 40.3%

Industrial Intermediates Infrastructure$4.04B · 30.3%

Performance Materials Coatings$3.21B · 24.1%

Corporate$701.00M · 5.3%

Geographic

$39.97B total

U.S.Canada$15.81B · 39.5%

Europe Middle East Africa And India$12.59B · 31.5%

Asia Pacific$7.22B · 18.1%

Latin America$4.35B · 10.9%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

4/9

Neutral

✗Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
-Long-term debt decreased
✓Current ratio improved
✓No share dilution
✗Gross margin improved
✗Asset turnover improved

Peer comparison

Same SIC group: Plastic Materials, Synth Resins & Nonvulcan Elastomers

Company	Revenue (last FY)	Net margin	ROE
DD	$6.85B	-11.4%	-5.6%
EMN	$8.75B	5.4%	8.0%
AVNT	$3.26B	2.5%	3.4%
TSE	$2.97B	-18.3%	49.7%
HXL	$1.89B	7.0%	10.6%

Comparing DOW INC. against the 5 most active filers in the same SIC group.

Dividends

$1.40/share trailing 12 months · -50.0% YoY

Ex-date	Per share
May 29, 2026	$0.3500
Feb 27, 2026	$0.3500
Nov 28, 2025	$0.3500
Aug 29, 2025	$0.3500
May 30, 2025	$0.7000
Feb 28, 2025	$0.7000
Nov 29, 2024	$0.7000
Aug 30, 2024	$0.7000
May 31, 2024	$0.7000
Feb 28, 2024	$0.7000
Nov 29, 2023	$0.7000
Aug 30, 2023	$0.7000
May 30, 2023	$0.7000
Feb 27, 2023	$0.7000
Nov 29, 2022	$0.7000
Aug 30, 2022	$0.7000
May 27, 2022	$0.7000
Feb 25, 2022	$0.7000
Nov 29, 2021	$0.7000
Aug 30, 2021	$0.7000
May 27, 2021	$0.7000
Feb 25, 2021	$0.7000
Nov 27, 2020	$0.7000
Aug 28, 2020	$0.7000