Dow Inc. (DOW) Financial Statements
Industry: Plastic Materials, Synth Resins & Nonvulcan Elastomers
In fiscal 2025, Dow reported revenue of $39.97B, down 7.0% from $42.96B the year before. Net income was -$2.62B (a -6.6% net margin), or -$3.70 per diluted share. Gross margin was 6.3% and operating margin was 2.9%. Operating activities generated $1.03B of cash, leaving -$1.45B of free cash flow. At fiscal year end, Dow held $58.54B in total assets against $42.53B in total liabilities, including $3.82B of cash and equivalents.
Open the full interactive Dow financials → Quarterly statements, key ratios, valuation history and price charts.
Dow Key Stats
| Share Price | $28.51 |
|---|---|
| Market Cap | $20.67B |
| Revenue YoY Growth | -7.0% |
| 52-Week Range | $19.96 – $40.97 |
| Shares Outstanding | 723.5 million (basic, 2026 Q2) |
Dow Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $38.54B | $54.97B | $56.90B | $44.62B | $42.96B | $39.97B |
| Cost of Goods Sold | $33.35B | $44.19B | $48.34B | $39.74B | $38.36B | $37.44B |
| Gross Profit | $5.20B | $10.78B | $8.56B | $4.88B | $4.61B | $2.53B |
| Operating Income | $3.73B | $9.13B | $6.89B | $3.25B | $3.02B | $1.14B |
| Pre-Tax Income | $2.07B | $8.14B | $6.09B | $656.0M | $1.60B | -$2.51B |
| Income Tax | $777.0M | $1.74B | $1.45B | -$4.0M | $399.0M | -$67.0M |
| Net Income | $1.23B | $6.31B | $4.58B | $589.0M | $1.12B | -$2.62B |
| Diluted EPS | $1.64 | $8.38 | $6.28 | $0.82 | $1.57 | -$3.70 |
Dow Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $9.97B | $9.46B | $9.79B | $12.09B |
| Net Income | $62.0M | -$1.54B | -$533.0M | $721.0M |
| Diluted EPS | $0.08 | -$2.17 | -$0.74 | $0.99 |
Dow Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.10B | $2.99B | $3.89B | $2.99B | $2.19B | $3.82B |
| Current Assets | $19.08B | $20.85B | $20.48B | $17.61B | $16.59B | $18.06B |
| Total Assets | $61.47B | $62.99B | $60.60B | $57.97B | $57.31B | $58.54B |
| Current Liabilities | $11.11B | $13.23B | $11.33B | $9.96B | $10.29B | $9.18B |
| Total Long-Term Debt | $16.95B | $14.51B | $15.06B | $15.02B | $16.21B | $18.07B |
| Total Liabilities | $49.03B | $44.83B | $39.88B | $39.36B | $39.96B | $42.53B |
| Shareholders' Equity | $12.44B | $18.16B | $20.72B | $18.61B | $17.36B | $16.01B |
Dow Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $6.23B | $7.01B | $7.47B | $5.20B | $2.91B | $1.03B |
| Cash From Investing | -$841.0M | -$2.91B | -$2.97B | -$2.93B | -$2.37B | -$2.13B |
| Cash From Financing | -$2.76B | -$6.07B | -$3.36B | -$3.12B | -$1.17B | $2.51B |
| Free Cash Flow | $4.97B | $5.51B | $5.65B | $2.84B | -$26.0M | -$1.45B |
Figures from Dow's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Dow financials page for every line item.
Dow Company Profile
| Ticker | DOW |
|---|---|
| Exchange | NYSE |
| Industry | Plastic Materials, Synth Resins & Nonvulcan Elastomers |
| Headquarters | Midland, Michigan |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001751788 |
Frequently Asked Questions
What was Dow's revenue in fiscal 2025?
Dow (DOW) reported revenue of $39.97B for fiscal 2025.
What is Dow's annual revenue history?
Dow's annual revenue by fiscal year: 2020: $38.54B; 2021: $54.97B; 2022: $56.90B; 2023: $44.62B; 2024: $42.96B; 2025: $39.97B.
What was Dow's net income in fiscal 2025?
Dow reported net income of -$2.62B for fiscal 2025.
What was Dow's earnings per share (EPS) in fiscal 2025?
Dow's diluted EPS was -$3.70 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Dow generate in fiscal 2025?
Dow generated -$1.45B of free cash flow in fiscal 2025.
What was Dow's revenue last quarter?
In its most recent reported quarter (2026 Q2), Dow reported revenue of $12.09B.
How much debt does Dow have?
Dow reported $18.07B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Dow are outstanding?
Dow reported a weighted average of 723.5 million basic shares outstanding in 2026 Q2.
What is Dow's market cap?
Based on its latest closing price, Dow (DOW) has a market capitalization of about $20.67B.
When does Dow's fiscal year end?
Dow's fiscal year end, as registered with the SEC, is December 31.
Where is Dow headquartered?
Dow lists its business address in Midland, Michigan in its SEC filings.