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Financials · DOW

Dow Inc. (DOW) financials

For the twelve months ended Sep 30, 2026, Dow Inc. reported $42.61B of revenue and -$897.00M of net income.

Revenue, TTM
$42.61B
Revenue growth, YoY
+4.2%
Net income, TTM
-$897.00M
Net margin
-2.1%
Cash
$4.14B
Total debt
$16.78B
P/S
0.53
Market cap
$22.73B
Annual revenue$39.97B
FY2017FY2025
Annual net income-$2.62B
FY2017FY2025
Annual free cash flow-$1.45B
FY2017FY2025

DOW revenue and earnings growth

DOW revenueQ3 2026$11.27B

Quarter YoY
+13.0%
QoQ
-6.8%
FY YoY
-7.0%
5Y CAGR
+0.7%

DOW revenue was $11.27B in fiscal Q3 2026 (ended Sep 30, 2026), up 13.0% from a year earlier and down 6.8% from the prior quarter. For the full fiscal 2025 it was $39.97B, down 7.0% from fiscal 2024. Compound annual growth was +0.7% over 5 years. It rose in 3 of the last 8 fiscal years.

DOW net incomeQ3 2026$458.00M

Quarter YoY
+638.7%
QoQ
-36.5%

DOW net income was $458.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 638.7% from a year earlier and down 36.5% from the prior quarter. For the full fiscal 2025 it was -$2.62B, compared with $1.12B in fiscal 2024.

DOW EPSQ3 2026$0.62

Quarter YoY
+675.0%

DOW diluted EPS was $0.62 in fiscal Q3 2026 (ended Sep 30, 2026), up 675.0% from a year earlier. For the full fiscal 2025 it was -$3.70, compared with $1.57 in fiscal 2024.

DOW free cash flowQ1 2026$621.00M

DOW free cash flow was $621.00M in fiscal Q1 2026 (ended Mar 31, 2026), compared with -$594.00M a year earlier. For the full fiscal 2025 it was -$1.45B, compared with -$26.00M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Revenue$39.97B$42.96B$44.62B$56.90B$54.97B$38.54B$42.95B$49.60B$43.73B
Cost of revenue$37.44B$38.36B$39.74B$48.34B$44.19B$33.35B$36.66B$41.07B$36.35B
Gross profit$2.53B$4.61B$4.88B$8.56B$10.78B$5.20B$6.29B$8.53B$7.38B
Research and development$752.00M$810.00M$829.00M$851.00M$857.00M$768.00M$765.00M$800.00M$803.00M
Selling, general and admin$1.39B$1.58B$1.63B$1.68B$1.65B$1.47B$1.59B$1.78B$1.79B
Pre-tax income-$2.51B$1.60B$656.00M$6.09B$8.14B$2.07B-$1.25B$3.75B$237.00M
Income tax-$67.00M$399.00M-$4.00M$1.45B$1.74B$777.00M$470.00M$809.00M$1.52B
Net income-$2.62B$1.12B$589.00M$4.58B$6.31B$1.23B-$1.36B$4.64B$465.00M
EPS, basic-$3.70$1.57$0.82$6.32$8.44$1.64-$1.84$6.21$0.60
EPS, diluted-$3.70$1.57$0.82$6.28$8.38$1.64-$1.84$6.21$0.60
Diluted shares711.6M705.1M709.0M725.6M749.0M742.3M742.5M747.2M744.8M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Cash and equivalents$3.82B$2.26B$2.99B$3.94B$3.03B$5.11B$2.38B$2.76B$6.21B
Short-term investments------$21.00M$100.00M-
Receivables$4.76B$4.76B$4.72B$5.61B$6.84B$5.09B$4.84B$5.65B-
Inventory$6.59B$6.54B$6.08B$6.99B$7.37B$5.70B$6.21B$6.90B-
Current assets$18.06B$16.59B$17.61B$20.48B$20.85B$19.08B$16.82B$39.37B-
Goodwill$7.98B$8.56B$8.64B$8.64B$8.76B$8.91B$8.80B$9.85B$9.83B
Total assets$58.54B$57.31B$57.97B$60.60B$62.99B$61.47B$60.52B$83.70B-
Current liabilities$9.18B$10.29B$9.96B$11.33B$13.23B$11.11B$10.68B$15.55B-
Short-term debt--$62.00M$362.00M$161.00M$156.00M$586.00M$298.00M-
Long-term debt$17.85B$15.71B$14.91B$14.70B$14.28B$16.49B$15.97B$19.25B-
Total debt$17.85B$15.71B$14.97B$15.06B$14.44B$16.65B$16.56B$19.55B-
Total liabilities$41.02B$39.46B$38.86B$39.36B$44.25B$48.47B$46.43B$50.08B-
Shareholders' equity$16.01B$17.36B$18.61B$20.72B$18.16B$12.44B$13.54B$32.48B$31.52B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Operating cash flow$1.03B$2.91B$5.20B$7.47B$7.01B$6.23B$5.93B$4.25B-$4.93B
Capital expenditures$2.48B$2.94B$2.36B$1.82B$1.50B$1.25B$1.96B$2.09B$2.81B
Free cash flow-$1.45B-$26.00M$2.84B$5.65B$5.51B$4.97B$3.97B$2.16B-$7.74B
Investing cash flow-$2.13B-$2.37B-$2.93B-$2.97B-$2.91B-$841.00M-$2.19B-$2.19B$7.52B
Financing cash flow$2.51B-$1.17B-$3.12B-$3.36B-$6.07B-$2.76B-$4.09B-$5.40B-$3.33B
Dividends paid$1.49B$1.97B$1.97B$2.01B$2.07B$2.07B$1.55B$0$1.06B
Share repurchases$0$494.00M$625.00M$2.33B$1.00B$125.00M$500.00M$0$0
Depreciation and amortization$2.83B$2.89B$2.61B$2.76B$2.84B$2.87B$2.94B$2.91B$2.55B

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Revenue growth, YoY-7.0%-3.7%-21.6%3.5%42.6%-10.3%-13.4%13.4%-
Net income growth, YoY-89.5%-87.1%-27.4%415.2%--898.1%-
EPS growth, YoY-91.5%-86.9%-25.1%411.0%--935.0%-
Gross margin6.3%10.7%10.9%15.1%19.6%13.5%14.7%17.2%16.9%
Net margin-6.6%2.6%1.3%8.1%11.5%3.2%-3.2%9.4%1.1%
Free cash flow margin-3.6%-0.1%6.4%9.9%10.0%12.9%9.2%4.4%-17.7%
Return on equity-16.4%6.4%3.2%22.1%34.7%9.9%-10.0%14.3%1.5%
Return on assets-4.5%1.9%1.0%7.6%10.0%2.0%-2.2%5.5%-
Current ratio1.971.611.771.811.581.721.572.53-
Debt to equity1.120.910.800.730.791.341.220.60-

Source: XBRL data Dow Inc. files with the SEC, latest filing dated Oct 23, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

DOW peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
DOW$42.61B+4.2%-$897.00M-2.1%$22.73B
LIN$36.24B+8.2%$7.01B19.3%$236.54B
APD$12.60B+4.5%-$47.30M-0.4%$67.88B
IFF$11.69B+24.3%$182.00M1.6%$20.69B
LYB$31.96B+3.5%$1.30B4.1%$19.63B
DD$7.06B+3.2%$301.00M4.3%$19.42B
ALB$6.15B+24.4%$681.63M11.1%$11.71B
SOLS$4.17B+9.4%$325.00M7.8%$9.12B
WLK$11.44B-0.4%-$424.00M-3.7%$8.12B

DOW FAQ

7 questions
  • What is DOW revenue?
    Dow Inc. (DOW) reported $42.61B of revenue for the twelve months ended Sep 30, 2026. That is up 4.2% from the year before. Revenue for fiscal 2025 was $39.97B.
  • Is DOW profitable?
    No. Dow Inc. reported a net loss of $897.00M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does DOW have?
    Dow Inc. reported $4.14B in cash and cash equivalents and $16.78B of debt on its most recent balance sheet in SEC filings.
  • How fast is DOW revenue growing?
    Dow Inc.'s revenue changed -7.0% in fiscal 2025, to $39.97B. Its compound annual growth rate was +0.7% over 5 years.
  • What is DOW gross margin?
    Dow Inc.'s gross profit was $4.73B on $42.61B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 11.1%.
  • When did DOW last report financial results?
    The latest statements here come from Dow Inc.'s 10-Q filed on Oct 23, 2026, covering the period ended Sep 30, 2026.
  • Where does this DOW financial data come from?
    Quantisnow builds these statements from the structured XBRL data Dow Inc. files with the SEC. It is provided for information only and is not investment advice.