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.
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 totalPackaging 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 totalU.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
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 |