Overview
DOW INC.
Latest 10-K: FY2025
- Revenue
- $39.97B
- 7.0%YoYdown from FY2024
- TotalRevenue
- Gross profit
- $2.53B
- 45.0%YoYdown from FY2024
- GrossProfit
- Net income
- -$2.62B
- 335.0%YoYdown from FY2024
- NetIncome
- Diluted EPS
- -$3.70
- 335.7%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 711.6M
- 0.9%YoYup from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- DOW INC. reported revenue of $39.97B for fiscal 2025, down 7.0% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 1 of the last 5 fiscal years.
Profitability
- Net margin was -6.6%, against a median of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was -$3.70, down 335.7% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 30, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $39.97B7.0%down Benchmark median 6.4% | $42.96B3.7%down Benchmark median 4.5% | $44.62B21.6%down Benchmark median 4.8% | $56.90B3.5%up Benchmark median 10.3% | $54.97B42.6%up Benchmark median 13.8% | -7.7% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $2.53B45.0%down Benchmark median 6.8% | $4.61B5.6%down Benchmark median 5.5% | $4.88B43.0%down Benchmark median 5.2% | $8.56B20.5%down Benchmark median 8.3% | $10.78B107.4%up Benchmark median 15.7% | -30.4% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | — | — | — | — | — | — Benchmark median 7.2% |
| Net Income | negative: -$2.62B§335.0%down Benchmark median 4.8% | $1.12B§89.5%up Benchmark median 5.7% | $0.59B§87.1%down Benchmark median 1.9% | $4.58B§27.4%down Benchmark median 1.3% | $6.31B§415.2%up Benchmark median 33.9% | n/m Benchmark median 4.1% |
| EPS (Diluted) | negative: -$3.70335.7%down Benchmark median 6.2% | $1.5791.5%up Benchmark median 7.9% | $0.8286.9%down Benchmark median 1.9% | $6.2825.1%down Benchmark median 1.5% | $8.38411.0%up Benchmark median 34.8% | n/m Benchmark median 5.6% |
§ Net income available to common stockholders; the company files no net-income line.
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $58.54B2.1%up Benchmark median 5.6% | $57.31B1.1%down Benchmark median 3.4% | $57.97B4.3%down Benchmark median 4.1% | $60.60B3.8%down Benchmark median 2.2% | $62.99B2.5%up Benchmark median 6.7% | -1.8% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | — | — | — | — | — | — Benchmark median 4.4% |
| Stockholders' Equity | $17.52B1.8%down Benchmark median 6.8% | $17.85B6.6%down Benchmark median 5.4% | $19.11B10.1%down Benchmark median 7.3% | $21.25B13.4%up Benchmark median 2.5% | $18.74B44.1%up Benchmark median 9.0% | -1.7% Benchmark median 6.1% |
| Cash & Equivalents | $3.82B74.3%up Benchmark median 5.2% | $2.19B26.7%down Benchmark median 1.9% | $2.99B23.1%down Benchmark median 6.7% | $3.89B30.1%up Benchmark median -8.6% | $2.99B41.5%down Benchmark median -2.9% | 6.3% Benchmark median 2.0% |
| Total Debt | $18.07B11.5%up Benchmark median 2.1% | $16.21B7.4%up Benchmark median 0.2% | $15.09B2.2%down Benchmark median 0.3% | $15.42B5.1%up Benchmark median 0.1% | $14.67B14.2%down Benchmark median -0.1% | 5.3% Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.03B64.6%down Benchmark median 6.3% | $2.91B43.9%down Benchmark median 4.8% | $5.20B30.5%down Benchmark median 9.9% | $7.47B6.6%up Benchmark median -0.7% | $7.01B12.6%up Benchmark median 10.7% | -38.1% Benchmark median 7.0% |
| Capital Expenditures | $2.48B15.7%down Benchmark median 5.4% | $2.94B24.8%up Benchmark median 2.8% | $2.36B29.2%up Benchmark median 11.3% | $1.82B21.5%up Benchmark median 14.0% | $1.50B19.9%up Benchmark median 8.1% | 13.4% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | negative: -$1.45Bn/m Benchmark median 7.3% | negative: -$0.03B100.9%down Benchmark median 6.1% | $2.84B49.8%down Benchmark median 8.8% | $5.65B2.6%up Benchmark median -11.3% | $5.51B10.7%up Benchmark median 10.2% | n/m Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
n/m
Wall Street
on net earnings
FY2024 3.9%
negative: −8.7%
Value investor
on free cash flow
FY2024 negative: −0.1%
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E n/mValue investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
105.3%
Wall Street
on book equity
FY2024 63.1%
48.4%
Value investor
on tangible book
FY2024 26.7%
Gap −56.9 pts: Value-investor figure 56.9 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 0.9×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
negative: −14.8%
Wall Street
ROE: net income ÷ equity
FY2024 6.0%
— Not reported
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 — Not reported
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
— Not reported
Wall Street
EBITDA margin
FY2024 — Not reported
negative: −3.6%
Value investor
Free-cash-flow margin
FY2024 negative: −0.1%
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.97×
Wall Street
Current ratio
FY2024 1.61×
1.21×
Value investor
Quick ratio, inventory excluded
FY2024 0.94×
Gap −0.76×: Value-investor figure 0.76 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
— Not reported
Wall Street
EBITDA ÷ total debt
FY2024 — Not reported
negative: −0.08×
Value investor
FCF ÷ total debt
FY2024 0.00×
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on DOW yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on DOW and publish the result to your public profile.
Cite this page
Data as of Oct 30, 2026. Canonical address: https://valuein.biz/data/DOW
Valuein. (2026, October 30). DOW INC. (DOW) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/DOW
@misc{valuein_dow_2026,
author = {{Valuein}},
title = {DOW INC. (DOW) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/DOW}},
note = {Data as of 2026-10-30; source: SEC EDGAR filings}
}Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing
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