DOW INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $40.0B | $43.0B | $44.6B | $56.9B | $55.0B |
| Cost of revenue | $37.4B | $38.4B | $39.7B | $48.3B | $44.2B |
| Selling, general & administrative | $1.4B | $1.6B | $1.6B | $1.7B | $1.6B |
| Research and development | $752.0M | $810.0M | $829.0M | $851.0M | $857.0M |
| Pretax income | -$2.5B | $1.6B | $656.0M | $6.1B | $8.1B |
| Income tax expense | -$67.0M | $399.0M | -$4.0M | $1.4B | $1.7B |
| Net income | -$2.4B | $1.2B | $660.0M | $4.6B | $6.4B |
| Balance Sheet | |||||
| Cash and equivalents | $3.8B | $2.2B | $3.0B | $3.9B | $3.0B |
| Current assets | $18.1B | $16.6B | $17.6B | $20.5B | $20.8B |
| Total assets | $58.5B | $57.3B | $58.0B | $60.6B | $63.0B |
| Current liabilities | $9.2B | $10.3B | $10.0B | $11.3B | $13.2B |
| Stockholders' equity | $16.0B | $17.4B | $18.6B | $20.7B | $18.2B |
| Cash Flow Statement | |||||
| Cash from operations | $1.0B | $2.9B | $5.2B | $7.5B | $7.0B |
| Depreciation and amortization | $2.8B | $2.9B | $2.6B | $2.8B | $2.8B |
| Stock-based compensation | $154.0M | $159.0M | $212.0M | $211.0M | $276.0M |
| Capital expenditure | $2.5B | $2.9B | $2.4B | $1.8B | $1.5B |
| Free cash flow | -$1.4B | -$26.0M | $2.8B | $5.7B | $5.5B |
| Dividends paid | $1.5B | $2.0B | $2.0B | $2.0B | $2.1B |
| Share repurchases | $0 | $494.0M | $625.0M | $2.3B | $1.0B |
| Impairments | $303.0M | — | — | $118.0M | — |
Shares outstanding 720.7M · Free float 99.5%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.