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Dow Inc. (DOW)

NYSE Materials Commodity Chemicals S&P 500
$31.40
-0.58 (-1.81%)
Close of Nov 06, 2026 · end-of-day data
Source: Dow Inc.'s 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 02, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$36.26B$43.73B$49.60B$42.95B$38.54B$54.97B$56.90B$44.62B$42.96B$39.97B
Cost of revenue$30.05B$36.35B$41.07B$36.66B$33.35B$44.19B$48.34B$39.74B$38.36B$37.44B
Gross profit$6.21B$7.38B$8.53B$6.29B$5.20B$10.78B$8.56B$4.88B$4.61B$2.53B
Research & development$746.00M$803.00M$800.00M$765.00M$768.00M$857.00M$851.00M$829.00M$810.00M$752.00M
Selling, general & admin$1.80B$1.79B$1.78B$1.59B$1.47B$1.65B$1.68B$1.63B$1.58B$1.39B
Interest expense$827.00M$914.00M$1.06B$933.00M$827.00M$731.00M$662.00M$746.00M$811.00M$865.00M
Pre-tax income$1.26B$237.00M$3.75B-$1.25B$2.07B$8.14B$6.09B$656.00M$1.60B-$2.51B
Income tax-$218.00M$1.52B$809.00M$470.00M$777.00M$1.74B$1.45B-$4.00M$399.00M-$67.00M
Net income$4.32B$465.00M$4.64B-$1.36B$1.23B$6.31B$4.58B$589.00M$1.12B-$2.62B
EPS (basic)$5.80$0.60$6.21$-1.84$1.64$8.44$6.32$0.82$1.57$-3.70
EPS (diluted)$5.73$0.60$6.21$-1.84$1.64$8.38$6.28$0.82$1.57$-3.70
Diluted shares690.90M744.80M747.20M742.50M742.30M749.00M725.60M709.00M705.10M711.60M
Gross margin17.1%16.9%17.2%14.7%13.5%19.6%15.1%10.9%10.7%6.3%
Net margin11.9%1.1%9.4%-3.2%3.2%11.5%8.1%1.3%2.6%-6.6%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$6.61B$6.19B$2.72B$2.37B$5.10B$2.99B$3.89B$2.99B$2.19B$3.82B
Short-term investments—$4.00M$100.00M$21.00M$45.00M$245.00M$939.00M———
Receivables—$5.39B$5.65B$4.84B$5.09B$6.84B$5.61B$4.72B$4.76B$4.76B
Inventory—$6.04B$6.90B$6.21B$5.70B$7.37B$6.99B$6.08B$6.54B$6.59B
Total current assets—$27.89B$39.37B$16.82B$19.08B$20.85B$20.48B$17.61B$16.59B$18.06B
Goodwill$7.54B$9.83B$9.85B$8.80B$8.91B$8.76B$8.64B$8.64B$8.56B$7.98B
Total assets—$85.85B$83.70B$60.52B$61.47B$62.99B$60.60B$57.97B$57.31B$58.54B
Total current liabilities—$14.58B$15.55B$10.68B$11.11B$13.23B$11.33B$9.96B$10.29B$9.18B
Short-term debt—$481.00M$298.00M$586.00M$156.00M$161.00M$362.00M$62.00M$497.00M$222.00M
Long-term debt—$20.50B$19.59B$16.41B$16.95B$14.51B$15.06B$14.91B$16.21B$17.85B
Total debt—$20.99B$19.89B$17.00B$17.11B$14.67B$15.42B$14.97B$16.70B$18.07B
Total liabilities—$54.34B$51.22B$46.98B$49.03B$44.83B$39.88B$39.36B$39.96B$42.53B
Shareholders' equity$25.99B$31.52B$32.48B$13.54B$12.44B$18.16B$20.72B$18.61B$17.36B$16.01B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow-$2.96B-$4.93B$4.25B$5.93B$6.23B$7.01B$7.47B$5.20B$2.91B$1.03B
Capital expenditures$3.49B$2.81B$2.09B$1.96B$1.25B$1.50B$1.82B$2.36B$2.94B$2.48B
Free cash flow-$6.45B-$7.74B$2.16B$3.97B$4.97B$5.51B$5.65B$2.84B-$26.00M-$1.45B
Investing cash flow$5.09B$7.52B-$2.19B-$2.19B-$841.00M-$2.91B-$2.97B-$2.93B-$2.37B-$2.13B
Financing cash flow-$4.01B-$3.33B-$5.40B-$4.09B-$2.76B-$6.07B-$3.36B-$3.12B-$1.17B$2.51B
Dividends paid$0$1.06B$3.71B$535.00M$2.07B$2.07B$2.01B$1.97B$1.97B$1.49B
Share buybacks$916.00M$0$0$500.00M$125.00M$1.00B$2.33B$625.00M$494.00M$0
Stock-based compensation$225.00M$310.00M$188.00M$158.00M$171.00M$276.00M$211.00M$212.00M$159.00M$154.00M
Depreciation & amortization$2.23B$2.55B$2.91B$2.94B$2.87B$2.84B$2.76B$2.61B$2.89B$2.83B

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.