DOW (DOW) Financials

$27.75 -1.04 (-3.61%)

Closing price 05/30/2025 03:59 PM Eastern

Extended Trading

$27.58 -0.18 (-0.63%)

As of 05/30/2025 07:59 PM Eastern

Annual Income Statements for DOW

This table shows DOW's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Net Income / (Loss) Attributable to Common Shareholders	1,116	589	4,582	6,311	1,225
Consolidated Net Income / (Loss)	1,201	660	4,640	6,405	1,294
Net Income / (Loss) Continuing Operations	1,201	660	4,640	6,405	1,294
Total Pre-Tax Income	1,600	656	6,090	8,145	2,071
Total Operating Income	1,802	1,572	5,584	7,881	1,609
Total Gross Profit	4,606	4,880	8,564	10,777	5,196
Total Revenue	42,964	44,622	56,902	54,968	38,542
Operating Revenue	42,964	44,622	56,902	54,968	38,542
Total Cost of Revenue	38,358	39,742	48,338	44,191	33,346
Operating Cost of Revenue	38,358	39,742	48,338	44,191	33,346
Total Operating Expenses	2,804	3,308	2,980	2,896	3,587
Selling, General & Admin Expense	1,581	1,627	1,675	1,645	1,471
Research & Development Expense	810	829	851	857	768
Amortization Expense	310	324	336	388	401
Restructuring Charge	103	528	118	6.00	708
Total Other Income / (Expense), net	-202	-916	506	264	462
Interest Expense	811	746	662	731	827
Interest & Investment Income	194	110	441	1,030	20
Other Income / (Expense), net	415	-280	727	-35	1,269
Income Tax Expense	399	-4.00	1,450	1,740	777
Net Income / (Loss) Attributable to Noncontrolling Interest	85	71	58	94	69
Basic Earnings per Share	$1.57	$0.82	$6.32	$8.44	$1.64
Weighted Average Basic Shares Outstanding	703.80M	705.70M	721M	743.60M	740.50M
Diluted Earnings per Share	$1.57	$0.82	$6.28	$8.38	$1.64
Weighted Average Diluted Shares Outstanding	705.10M	709M	725.60M	749M	742.30M
Weighted Average Basic & Diluted Shares Outstanding	703.83M	702.29M	704.88M	-	-
Cash Dividends to Common per Share	$0.70	$0.70	$0.70	$0.70	$0.70

This table shows DOW's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-307	-53	214	439	516	-105	302	485	-93	613	739
Consolidated Net Income / (Loss)	-290	-35	240	458	538	-95	327	501	-73	647	760
Net Income / (Loss) Continuing Operations	-290	-35	240	458	538	-95	327	501	-73	647	760
Total Pre-Tax Income	-374	219	324	608	449	-352	417	711	-120	865	1,001
Total Operating Income	-179	270	366	661	505	291	480	843	-42	580	1,104
Total Gross Profit	671	935	1,070	1,324	1,277	975	1,138	1,545	1,222	1,203	1,734
Total Revenue	10,431	10,405	10,879	10,915	10,765	10,621	10,730	11,420	11,851	11,859	14,115
Operating Revenue	10,431	10,405	10,879	10,915	10,765	10,621	10,730	11,420	11,851	11,859	14,115
Total Cost of Revenue	9,760	9,470	9,809	9,591	9,488	9,646	9,592	9,875	10,629	10,656	12,381
Operating Cost of Revenue	9,760	9,470	9,809	9,591	9,488	9,646	9,592	9,875	10,629	10,656	12,381
Total Operating Expenses	850	665	704	663	772	684	658	702	1,264	623	630
Selling, General & Admin Expense	366	353	396	390	442	411	380	408	428	386	356
Research & Development Expense	200	202	208	196	204	213	197	205	214	225	191
Amortization Expense	76	76	76	77	81	81	81	81	81	80	83
Restructuring Charge	208	34	24	0.00	45	-21	0.00	8.00	541	-68	0.00
Total Other Income / (Expense), net	-195	-51	-42	-53	-56	-643	-63	-132	-78	285	-103
Interest Expense	216	216	199	197	199	197	192	172	185	175	155
Interest & Investment Income	8.00	6.00	38	68	82	36	37	9.00	28	25	-17
Other Income / (Expense), net	13	159	119	76	61	-482	92	31	79	435	69
Income Tax Expense	-84	254	84	150	-89	-257	90	210	-47	218	241
Net Income / (Loss) Attributable to Noncontrolling Interest	17	18	26	19	22	10	25	16	20	34	21
Basic Earnings per Share	($0.44)	($0.08)	$0.30	$0.62	$0.73	($0.16)	$0.43	$0.68	($0.13)	$0.89	$1.03
Weighted Average Basic Shares Outstanding	706.90M	703.80M	702.30M	703.80M	704.50M	705.70M	704M	707M	708.20M	721M	714.30M
Diluted Earnings per Share	($0.44)	($0.08)	$0.30	$0.62	$0.73	($0.15)	$0.42	$0.68	($0.13)	$0.89	$1.02
Weighted Average Diluted Shares Outstanding	706.90M	705.10M	703.60M	705.30M	705.50M	709M	707.50M	709.90M	708.20M	725.60M	718.10M
Weighted Average Basic & Diluted Shares Outstanding	706.86M	703.83M	700.09M	700.92M	703.21M	702.29M	701.40M	703.07M	707.31M	704.88M	703.76M
Cash Dividends to Common per Share	$0.70	-	$0.70	$0.70	$0.70	-	$0.70	$0.70	$0.70	-	$0.70

This table details how cash moves in and out of DOW's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Net Change in Cash & Equivalents	-785	-892	907	-2,075	2,728
Net Cash From Operating Activities	2,914	5,196	7,475	7,009	6,226
Net Cash From Continuing Operating Activities	2,903	5,164	7,486	7,069	6,252
Net Income / (Loss) Continuing Operations	1,201	660	4,640	6,405	0.00
Consolidated Net Income / (Loss)	1,201	660	4,640	6,405	-
Depreciation Expense	2,894	2,611	2,758	2,842	2,874
Non-Cash Adjustments To Reconcile Net Income	429	2,047	874	-1,009	634
Changes in Operating Assets and Liabilities, net	-1,621	-154	-786	-1,169	1,450
Net Cash From Discontinued Operating Activities	11	32	-11	-60	-26
Net Cash From Investing Activities	-2,368	-2,928	-2,970	-2,914	-841
Net Cash From Continuing Investing Activities	-2,368	-2,928	-2,970	-2,914	-841
Purchase of Property, Plant & Equipment	-3,143	-2,578	-2,020	-2,287	-1,262
Acquisitions	-125	-114	-228	-129	-130
Purchase of Investments	-1,837	-2,293	-1,514	-1,366	-1,536
Divestitures	234	158	43	68	929
Sale and/or Maturity of Investments	2,536	1,958	747	759	1,122
Other Investing Activities, net	-33	-59	2.00	41	36
Net Cash From Financing Activities	-1,168	-3,115	-3,361	-6,071	-2,764
Net Cash From Continuing Financing Activities	-1,159	-3,133	-3,361	-6,071	-2,764
Repayment of Debt	-359	-697	-791	-3,486	-5,422
Repurchase of Common Equity	-494	-625	-2,325	-1,000	-125
Payment of Dividends	-2,043	-2,061	-2,089	-2,146	-2,133
Issuance of Debt	1,610	104	1,667	253	4,835
Issuance of Common Equity	166	188	212	320	108
Other Financing Activities, net	-39	-42	-35	-12	-27
Effect of Exchange Rate Changes	-163	-45	-237	-99	107

This table details how cash moves in and out of DOW's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-708	-724	-398	-368	705	-52	117	-447	-510	1,623	-152
Net Cash From Operating Activities	91	814	800	836	464	1,656	1,658	1,347	535	2,078	1,940
Net Cash From Continuing Operating Activities	104	811	800	832	460	1,628	1,658	1,347	531	2,078	1,940
Net Income / (Loss) Continuing Operations	-290	-35	240	458	538	-95	327	501	-73	647	760
Consolidated Net Income / (Loss)	-290	-35	240	458	538	-95	327	501	-73	647	760
Depreciation Expense	714	751	741	682	720	657	657	649	648	654	668
Non-Cash Adjustments To Reconcile Net Income	467	100	151	52	126	839	73	258	877	160	216
Changes in Operating Assets and Liabilities, net	-787	-5.00	-332	-360	-924	227	601	-61	-921	617	296
Net Cash From Discontinued Operating Activities	-13	3.00	-	4.00	4.00	28	-	-	4.00	-	-
Net Cash From Investing Activities	-401	-912	-691	-494	-271	-1,082	-1,012	-684	-150	-1,631	-576
Net Cash From Continuing Investing Activities	-401	-912	-691	-494	-271	-1,082	-1,012	-684	-150	-1,631	-576
Purchase of Property, Plant & Equipment	-715	-813	-797	-767	-766	-800	-650	-631	-497	-657	-508
Purchase of Investments	-107	-431	-330	-395	-681	-998	-472	-658	-165	-1,000	-203
Divestitures	3.00	198	28	6.00	2.00	29	7.00	65	57	16	11
Sale and/or Maturity of Investments	416	150	562	651	1,173	714	161	571	512	151	178
Other Investing Activities, net	2.00	-12	-33	11	1.00	-16	-9.00	-	-34	33	-
Net Cash From Financing Activities	-521	-445	-594	-695	566	-711	-497	-1,053	-854	1,152	-1,417
Net Cash From Continuing Financing Activities	-521	-436	-594	-691	562	-721	-505	-1,053	-854	1,152	-1,417
Repayment of Debt	-1,013	-83	-129	-23	-124	-219	98	-329	-247	116	-139
Repurchase of Common Equity	0.00	-	-94	-200	-200	-125	-125	-250	-125	-125	-800
Payment of Dividends	-516	-520	-492	-524	-507	-529	-507	-516	-509	-536	-513
Issuance of Debt	1,024	53	121	48	1,388	28	21	42	13	1,585	33
Issuance of Common Equity	0.00	115	-	9.00	42	125	8.00	-	55	113	2.00
Other Financing Activities, net	-16	-1.00	-	-1.00	-37	-1.00	-	-	-41	-1.00	-
Effect of Exchange Rate Changes	123	-181	87	-15	-54	85	-32	-57	-41	24	-99

This table presents DOW's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Total Assets	57,312	57,967	60,603	62,990
Total Current Assets	16,590	17,614	20,477	20,848
Cash & Equivalents	2,189	2,987	3,886	2,988
Accounts Receivable	6,864	6,614	7,755	9,554
Inventories, net	6,544	6,076	6,988	7,372
Other Current Assets	993	1,937	1,848	934
Plant, Property, & Equipment, net	22,004	21,066	20,442	20,555
Plant, Property & Equipment, gross	62,121	60,203	58,055	57,604
Accumulated Depreciation	40,117	39,137	37,613	37,049
Total Noncurrent Assets	18,718	19,287	19,684	21,587
Long-Term Investments	4,299	4,007	4,382	5,238
Noncurrent Note & Lease Receivables	380	438	666	478
Goodwill	8,565	8,641	8,644	8,764
Intangible Assets	1,721	2,072	2,442	2,881
Noncurrent Deferred & Refundable Income Taxes	1,257	1,486	960	1,358
Other Noncurrent Operating Assets	2,496	2,643	2,590	2,868
Total Liabilities & Shareholders' Equity	57,312	57,967	60,603	62,990
Total Liabilities	39,461	38,859	39,356	44,251
Total Current Liabilities	10,288	9,957	11,331	13,226
Short-Term Debt	632	179	724	392
Accounts Payable	6,541	6,326	7,216	8,416
Accrued Expenses	2,521	2,704	2,770	3,481
Current Deferred & Payable Income Tax Liabilities	276	419	334	623
Other Current Liabilities	318	329	287	314
Total Noncurrent Liabilities	29,173	28,902	28,025	31,025
Long-Term Debt	15,711	14,907	14,698	14,280
Capital Lease Obligations	984	1,032	997	1,149
Asset Retirement Reserve & Litigation Obligation	713	788	857	931
Noncurrent Deferred & Payable Income Tax Liabilities	392	399	1,110	506
Noncurrent Employee Benefit Liabilities	4,736	4,932	3,808	7,557
Other Noncurrent Operating Liabilities	6,637	6,844	6,555	6,602
Total Equity & Noncontrolling Interests	17,851	19,108	21,247	18,739
Total Preferred & Common Equity	17,355	18,607	20,718	18,165
Total Common Equity	17,355	18,607	20,718	18,165
Common Stock	9,211	8,888	8,548	8,159
Retained Earnings	20,909	21,774	23,180	20,623
Treasury Stock	-4,655	-4,374	-3,871	-1,625
Accumulated Other Comprehensive Income / (Loss)	-8,110	-7,681	-7,139	-8,977
Noncontrolling Interest	496	501	529	574

This table presents DOW's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	57,499	57,312	59,389	58,526	58,817	57,967	58,288	58,294	97,672	60,603	59,557
Total Current Assets	16,328	16,590	17,977	18,053	18,448	17,614	18,298	18,549	19,356	20,477	19,777
Cash & Equivalents	1,465	2,189	2,883	3,341	3,723	2,987	3,080	2,924	3,319	3,886	2,216
Accounts Receivable	7,184	6,864	7,316	7,079	7,069	6,614	7,382	7,658	7,812	7,755	8,530
Inventories, net	6,765	6,544	6,741	6,459	6,373	6,076	6,211	6,487	6,825	6,988	7,571
Other Current Assets	914	993	1,037	1,174	1,283	1,937	1,625	1,480	1,400	1,848	1,460
Plant, Property, & Equipment, net	22,330	22,004	22,093	21,590	21,261	21,066	20,560	20,402	20,323	20,442	20,032
Plant, Property & Equipment, gross	63,242	62,121	62,642	61,369	60,662	60,203	59,525	59,145	58,679	58,055	56,931
Accumulated Depreciation	40,912	40,117	40,549	39,779	39,401	39,137	38,965	38,743	-	37,613	36,899
Total Noncurrent Assets	18,841	18,718	19,319	18,883	19,108	19,287	19,430	19,343	19,637	19,684	19,748
Long-Term Investments	4,087	4,299	4,157	4,083	4,071	4,007	4,193	4,158	4,323	4,382	4,517
Noncurrent Note & Lease Receivables	418	380	525	461	382	438	555	561	627	666	499
Goodwill	8,619	8,565	8,684	8,559	8,590	8,641	8,580	8,615	8,653	8,644	8,524
Intangible Assets	1,652	1,721	1,840	1,875	1,967	2,072	2,132	2,231	2,336	2,442	2,483
Noncurrent Deferred & Refundable Income Taxes	1,460	1,257	1,526	1,342	1,402	1,486	1,248	1,075	995	960	1,136
Other Noncurrent Operating Assets	2,605	2,496	2,587	2,563	2,696	2,643	2,722	2,703	2,703	2,590	2,589
Total Liabilities & Shareholders' Equity	57,499	57,312	59,389	58,526	58,817	57,967	58,288	58,294	59,316	60,603	59,557
Total Liabilities	40,204	39,461	40,548	39,726	39,900	38,859	38,208	37,785	38,601	39,356	40,928
Total Current Liabilities	10,586	10,288	10,827	10,308	10,249	9,957	10,248	9,649	10,489	11,331	12,315
Short-Term Debt	638	632	407	352	173	179	333	209	525	724	549
Accounts Payable	6,616	6,541	7,048	6,969	6,787	6,326	6,318	6,165	6,560	7,216	7,607
Accrued Expenses	2,698	2,521	2,799	2,357	2,517	2,704	2,879	2,619	2,765	2,770	3,303
Current Deferred & Payable Income Tax Liabilities	304	276	257	309	448	419	393	339	335	334	579
Other Current Liabilities	330	318	316	321	324	329	325	317	304	287	277
Total Noncurrent Liabilities	29,618	29,173	29,721	29,418	29,651	28,902	27,960	28,136	28,112	28,025	28,613
Long-Term Debt	15,932	15,711	16,164	16,016	16,170	14,907	14,592	14,735	14,739	14,698	12,921
Capital Lease Obligations	1,021	984	1,023	1,032	1,071	1,032	1,020	1,036	-	997	1,012
Asset Retirement Reserve & Litigation Obligation	688	713	727	744	761	788	804	819	844	857	868
Noncurrent Deferred & Payable Income Tax Liabilities	407	392	397	372	383	399	668	671	744	1,110	716
Noncurrent Employee Benefit Liabilities	4,700	4,736	4,689	4,675	4,800	4,932	3,617	3,735	3,799	3,808	6,541
Other Noncurrent Operating Liabilities	6,870	6,637	6,721	6,579	6,466	6,844	7,259	7,140	7,986	6,555	6,555
Total Equity & Noncontrolling Interests	17,295	17,851	18,841	18,800	18,917	19,108	20,080	20,509	20,715	21,247	18,629
Total Preferred & Common Equity	16,788	17,355	18,311	18,318	18,425	18,607	19,567	19,997	20,181	20,718	18,117
Total Common Equity	16,788	17,355	18,311	18,318	18,425	18,607	19,567	19,997	20,181	20,718	18,117
Common Stock	9,203	9,211	9,063	9,020	8,950	8,888	8,730	8,669	8,615	8,548	8,404
Retained Earnings	20,101	20,909	21,459	21,739	21,796	21,774	22,376	22,570	22,584	23,180	23,068
Treasury Stock	-4,560	-4,655	-4,708	-4,656	-4,507	-4,374	-4,278	-4,175	-3,953	-3,871	-3,773
Accumulated Other Comprehensive Income / (Loss)	-7,956	-8,110	-7,503	-7,785	-7,814	-7,681	-7,261	-7,067	-7,065	-7,139	-9,582
Noncontrolling Interest	507	496	530	482	492	501	513	512	534	529	512

This table displays calculated financial ratios and metrics derived from DOW's official financial filings.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Growth Metrics	-	-	-	-	-
Revenue Growth	-3.72%	-21.58%	3.52%	42.62%	0.00%
EBITDA Growth	30.95%	-56.96%	-15.15%	85.81%	0.00%
EBIT Growth	71.59%	-79.53%	-19.56%	172.62%	0.00%
NOPAT Growth	-14.48%	-62.83%	-31.35%	516.45%	0.00%
Net Income Growth	81.97%	-85.78%	-27.56%	394.98%	0.00%
EPS Growth	91.46%	-86.94%	-25.06%	410.98%	0.00%
Operating Cash Flow Growth	-43.92%	-30.49%	6.65%	12.58%	0.00%
Free Cash Flow Firm Growth	-67.44%	130.80%	105.91%	0.00%	0.00%
Invested Capital Growth	1.62%	-3.97%	11.64%	0.00%	0.00%
Revenue Q/Q Growth	-0.50%	-2.70%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	16.24%	-23.56%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	38.82%	-48.28%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	-33.09%	13.54%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	5.26%	-52.92%	0.00%	0.00%	0.00%
EPS Q/Q Growth	4.67%	-55.91%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-22.42%	-7.51%	-6.23%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-35.10%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-2.40%	-1.81%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-
Gross Margin	10.72%	10.94%	15.05%	19.61%	13.48%
EBITDA Margin	11.90%	8.75%	15.94%	19.44%	14.92%
Operating Margin	4.19%	3.52%	9.81%	14.34%	4.17%
EBIT Margin	5.16%	2.90%	11.09%	14.27%	7.47%
Profit (Net Income) Margin	2.80%	1.48%	8.15%	11.65%	3.36%
Tax Burden Percent	75.06%	100.61%	76.19%	78.64%	62.48%
Interest Burden Percent	72.17%	50.77%	96.50%	103.81%	71.96%
Effective Tax Rate	24.94%	-0.61%	23.81%	21.36%	37.52%
Return on Invested Capital (ROIC)	4.75%	5.49%	15.27%	47.07%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	3.23%	-5.18%	20.16%	52.53%	0.00%
Return on Net Nonoperating Assets (RNNOA)	1.75%	-2.22%	7.94%	21.29%	0.00%
Return on Equity (ROE)	6.50%	3.27%	23.21%	68.36%	0.00%
Cash Return on Invested Capital (CROIC)	3.14%	9.54%	4.27%	-152.93%	0.00%
Operating Return on Assets (OROA)	3.85%	2.18%	10.21%	12.46%	0.00%
Return on Assets (ROA)	2.08%	1.11%	7.51%	10.17%	0.00%
Return on Common Equity (ROCE)	6.32%	3.19%	22.57%	66.27%	0.00%
Return on Equity Simple (ROE_SIMPLE)	6.92%	3.55%	22.40%	35.26%	0.00%
Net Operating Profit after Tax (NOPAT)	1,353	1,582	4,254	6,197	1,005
NOPAT Margin	3.15%	3.54%	7.48%	11.27%	2.61%
Net Nonoperating Expense Percent (NNEP)	1.52%	10.67%	-4.90%	-5.47%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	3.85%	4.49%	11.30%	-	-
Cost of Revenue to Revenue	89.28%	89.06%	84.95%	80.39%	86.52%
SG&A Expenses to Revenue	3.68%	3.65%	2.94%	2.99%	3.82%
R&D to Revenue	1.89%	1.86%	1.50%	1.56%	1.99%
Operating Expenses to Revenue	6.53%	7.41%	5.24%	5.27%	9.31%
Earnings before Interest and Taxes (EBIT)	2,217	1,292	6,311	7,846	2,878
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5,111	3,903	9,069	10,688	5,752
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	1.62	1.96	1.54	0.00	0.00
Price to Tangible Book Value (P/TBV)	3.97	4.62	3.31	0.00	0.00
Price to Revenue (P/Rev)	0.65	0.82	0.56	0.00	0.00
Price to Earnings (P/E)	25.17	61.89	6.96	0.00	0.00
Dividend Yield	6.98%	5.39%	6.18%	5.60%	5.99%
Earnings Yield	3.97%	1.62%	14.37%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.37	1.63	1.38	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.92	1.03	0.71	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	7.71	11.81	4.47	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	17.79	35.67	6.43	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	29.15	29.13	9.54	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	13.53	8.87	5.43	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	44.07	16.77	34.08	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.97	0.84	0.77	0.84	0.00
Long-Term Debt to Equity	0.94	0.83	0.74	0.82	0.00
Financial Leverage	0.54	0.43	0.39	0.41	0.00
Leverage Ratio	3.12	2.94	3.09	3.36	0.00
Compound Leverage Factor	2.25	1.49	2.98	3.49	0.00
Debt to Total Capital	49.26%	45.76%	43.59%	45.78%	0.00%
Short-Term Debt to Total Capital	1.80%	0.51%	1.92%	1.13%	0.00%
Long-Term Debt to Total Capital	47.46%	45.25%	41.67%	44.64%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.41%	1.42%	1.40%	1.66%	0.00%
Common Equity to Total Capital	49.33%	52.82%	55.00%	52.56%	0.00%
Debt to EBITDA	3.39	4.13	1.81	1.48	0.00
Net Debt to EBITDA	2.12	2.34	0.90	0.71	0.00
Long-Term Debt to EBITDA	3.27	4.08	1.73	1.44	0.00
Debt to NOPAT	12.81	10.19	3.86	2.55	0.00
Net Debt to NOPAT	8.01	5.77	1.92	1.23	0.00
Long-Term Debt to NOPAT	12.34	10.08	3.69	2.49	0.00
Altman Z-Score	1.95	2.09	2.49	0.00	0.00
Noncontrolling Interest Sharing Ratio	2.70%	2.55%	2.76%	3.06%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	1.61	1.77	1.81	1.58	0.00
Quick Ratio	0.88	0.96	1.03	0.95	0.00
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	895	2,748	1,190	-20,137	0.00
Operating Cash Flow to CapEx	92.71%	201.55%	370.05%	306.47%	493.34%
Free Cash Flow to Firm to Interest Expense	1.10	3.68	1.80	-27.55	0.00
Operating Cash Flow to Interest Expense	3.59	6.97	11.29	9.59	7.53
Operating Cash Flow Less CapEx to Interest Expense	-0.28	3.51	8.24	6.46	6.00
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.75	0.75	0.92	0.87	0.00
Accounts Receivable Turnover	6.38	6.21	6.57	5.75	0.00
Inventory Turnover	6.08	6.08	6.73	5.99	0.00
Fixed Asset Turnover	2.00	2.15	2.78	2.67	0.00
Accounts Payable Turnover	5.96	5.87	6.18	5.25	0.00
Days Sales Outstanding (DSO)	57.25	58.77	55.51	63.44	0.00
Days Inventory Outstanding (DIO)	60.04	59.99	54.22	60.89	0.00
Days Payable Outstanding (DPO)	61.22	62.19	59.02	69.51	0.00
Cash Conversion Cycle (CCC)	56.08	56.57	50.71	54.82	0.00
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	28,690	28,232	29,398	26,334	0.00
Invested Capital Turnover	1.51	1.55	2.04	4.17	0.00
Increase / (Decrease) in Invested Capital	458	-1,166	3,064	26,334	0.00
Enterprise Value (EV)	39,430	46,079	40,568	0.00	0.00
Market Capitalization	28,095	36,454	31,888	0.00	0.00
Book Value per Share	$24.79	$26.53	$29.44	$24.43	$0.00
Tangible Book Value per Share	$10.10	$11.25	$13.69	$8.77	$0.00
Total Capital	35,178	35,226	37,666	34,560	0.00
Total Debt	17,327	16,118	16,419	15,821	0.00
Total Long-Term Debt	16,695	15,939	15,695	15,429	0.00
Net Debt	10,839	9,124	8,151	7,595	0.00
Capital Expenditures (CapEx)	3,143	2,578	2,020	2,287	1,262
Debt-free, Cash-free Net Working Capital (DFCFNWC)	4,745	4,849	5,984	5,026	0.00
Debt-free Net Working Capital (DFNWC)	6,934	7,836	9,870	8,014	0.00
Net Working Capital (NWC)	6,302	7,657	9,146	7,622	0.00
Net Nonoperating Expense (NNE)	152	922	-386	-208	-289
Net Nonoperating Obligations (NNO)	10,839	9,124	8,151	7,595	0.00
Total Depreciation and Amortization (D&A)	2,894	2,611	2,758	2,842	2,874
Debt-free, Cash-free Net Working Capital to Revenue	11.04%	10.87%	10.52%	9.14%	0.00%
Debt-free Net Working Capital to Revenue	16.14%	17.56%	17.35%	14.58%	0.00%
Net Working Capital to Revenue	14.67%	17.16%	16.07%	13.87%	0.00%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.57	$0.82	$6.32	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	703.80M	705.70M	721M	0.00	0.00
Adjusted Diluted Earnings per Share	$1.57	$0.82	$6.28	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	705.10M	709M	725.60M	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	703.83M	702.29M	704.88M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	1,430	1,470	4,344	6,202	1,448
Normalized NOPAT Margin	3.33%	3.29%	7.63%	11.28%	3.76%
Pre Tax Income Margin	3.72%	1.47%	10.70%	14.82%	5.37%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	2.73	1.73	9.53	10.73	3.48
NOPAT to Interest Expense	1.67	2.12	6.43	8.48	1.22
EBIT Less CapEx to Interest Expense	-1.14	-1.72	6.48	7.60	1.95
NOPAT Less CapEx to Interest Expense	-2.21	-1.34	3.38	5.35	-0.31
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	170.11%	312.27%	45.02%	33.51%	164.84%
Augmented Payout Ratio	211.24%	406.97%	95.13%	49.12%	174.50%

This table displays calculated financial ratios and metrics derived from DOW's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.10%	-2.03%	1.39%	-4.42%	-9.16%	-10.44%	-23.98%	-27.09%	-22.36%	0.00%	-4.87%
EBITDA Growth	-57.39%	153.22%	-0.24%	-6.83%	87.74%	-72.08%	-33.24%	-45.35%	-75.29%	0.00%	-18.65%
EBIT Growth	-129.33%	324.61%	-15.21%	-15.68%	1,429.73%	-118.82%	-51.24%	-58.44%	-98.17%	0.00%	-45.77%
NOPAT Growth	-120.71%	-121.18%	-27.97%	-16.18%	2,158.16%	-53.05%	-55.09%	-62.21%	-102.08%	0.00%	-56.05%
Net Income Growth	-153.90%	63.16%	-26.61%	-8.58%	836.99%	-114.68%	-56.97%	-70.20%	-104.70%	0.00%	-55.45%
EPS Growth	-160.27%	46.67%	-28.57%	-8.82%	661.54%	-116.85%	-58.82%	-69.91%	-106.16%	0.00%	-54.26%
Operating Cash Flow Growth	-80.39%	-50.85%	-51.75%	-37.94%	-13.27%	-20.31%	-14.54%	-27.35%	-66.63%	-19.30%	0.00%
Free Cash Flow Firm Growth	-327.67%	-136.59%	81.38%	103.92%	101.43%	0.00%	92.18%	0.00%	0.00%	0.00%	0.00%
Invested Capital Growth	2.79%	1.62%	2.24%	-2.15%	0.71%	-3.97%	9.00%	0.00%	0.00%	0.00%	0.00%
Revenue Q/Q Growth	0.25%	-4.36%	-0.33%	1.39%	1.36%	-1.02%	-6.04%	-3.64%	-0.07%	-15.98%	-9.89%
EBITDA Q/Q Growth	-53.56%	-3.75%	-13.60%	10.34%	175.97%	-62.08%	-19.30%	122.34%	-58.96%	-9.34%	-33.94%
EBIT Q/Q Growth	-138.69%	-11.55%	-34.19%	30.21%	396.34%	-133.39%	-34.55%	2,262.16%	-96.35%	-13.47%	-44.22%
NOPAT Q/Q Growth	-190.38%	-115.92%	-45.55%	-17.71%	197.05%	-45.88%	-36.63%	2,120.45%	-106.78%	-48.24%	-46.67%
Net Income Q/Q Growth	-728.57%	-114.58%	-47.60%	-14.87%	666.32%	-129.05%	-34.73%	786.30%	-111.28%	-14.87%	-54.79%
EPS Q/Q Growth	-450.00%	-126.67%	-51.61%	-15.07%	586.67%	-135.71%	-38.24%	623.08%	-114.61%	-12.75%	-54.87%
Operating Cash Flow Q/Q Growth	-88.82%	1.75%	-4.31%	80.17%	-71.98%	-0.12%	23.09%	151.78%	-74.25%	7.11%	4.64%
Free Cash Flow Firm Q/Q Growth	-84.04%	-34.76%	-132.94%	178.68%	-70.42%	168.57%	93.07%	-1.57%	0.00%	100.00%	0.00%
Invested Capital Q/Q Growth	2.24%	-2.40%	2.15%	0.84%	1.08%	-1.81%	-2.23%	3.78%	-3.61%	11.45%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	6.43%	8.99%	9.84%	12.13%	11.86%	9.18%	10.61%	13.53%	10.31%	10.14%	12.28%
EBITDA Margin	5.25%	11.34%	11.27%	13.00%	11.95%	4.39%	11.45%	13.34%	5.78%	14.07%	13.04%
Operating Margin	-1.72%	2.59%	3.36%	6.06%	4.69%	2.74%	4.47%	7.38%	-0.35%	4.89%	7.82%
EBIT Margin	-1.59%	4.12%	4.46%	6.75%	5.26%	-1.80%	5.33%	7.65%	0.31%	8.56%	8.31%
Profit (Net Income) Margin	-2.78%	-0.34%	2.21%	4.20%	5.00%	-0.89%	3.05%	4.39%	-0.62%	5.46%	5.38%
Tax Burden Percent	77.54%	-15.98%	74.07%	75.33%	119.82%	26.99%	78.42%	70.46%	60.83%	74.80%	75.92%
Interest Burden Percent	225.30%	51.05%	66.80%	82.50%	79.33%	184.29%	72.90%	81.35%	-324.32%	85.22%	85.34%
Effective Tax Rate	0.00%	115.98%	25.93%	24.67%	-19.82%	0.00%	21.58%	29.54%	0.00%	25.20%	24.08%
Return on Invested Capital (ROIC)	-1.77%	-0.63%	3.70%	6.75%	8.61%	2.97%	5.84%	17.42%	-0.94%	7.08%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-3.29%	-0.54%	3.38%	6.32%	7.83%	-0.49%	5.23%	15.33%	-2.08%	9.70%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-1.97%	-0.29%	1.67%	3.04%	3.41%	-0.21%	2.22%	6.65%	-0.77%	3.72%	0.00%
Return on Equity (ROE)	-3.74%	-0.92%	5.37%	9.78%	12.01%	2.76%	8.06%	24.07%	-1.70%	10.80%	0.00%
Cash Return on Invested Capital (CROIC)	-0.90%	3.14%	4.74%	9.46%	7.03%	9.54%	0.00%	0.00%	0.00%	4.05%	0.00%
Operating Return on Assets (OROA)	-1.17%	3.07%	3.27%	4.97%	2.93%	-1.35%	4.15%	6.47%	0.17%	7.88%	0.00%
Return on Assets (ROA)	-2.04%	-0.25%	1.62%	3.09%	2.78%	-0.67%	2.37%	3.71%	-0.34%	5.02%	0.00%
Return on Common Equity (ROCE)	-3.63%	-0.90%	5.23%	9.54%	11.70%	2.69%	7.84%	23.47%	-1.66%	10.50%	0.00%
Return on Equity Simple (ROE_SIMPLE)	2.22%	0.00%	6.23%	6.70%	6.90%	0.00%	7.17%	9.18%	14.94%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-125	-43	271	498	605	204	376	594	-29	434	838
NOPAT Margin	-1.20%	-0.41%	2.49%	4.56%	5.62%	1.92%	3.51%	5.20%	-0.25%	3.66%	5.94%
Net Nonoperating Expense Percent (NNEP)	1.52%	-0.08%	0.32%	0.42%	0.78%	3.46%	0.60%	2.09%	1.14%	-2.62%	2.02%
Return On Investment Capital (ROIC_SIMPLE)	-0.36%	-0.12%	-	-	-	0.58%	-	-	-	1.15%	-
Cost of Revenue to Revenue	93.57%	91.01%	90.16%	87.87%	88.14%	90.82%	89.39%	86.47%	89.69%	89.86%	87.72%
SG&A Expenses to Revenue	3.51%	3.39%	3.64%	3.57%	4.11%	3.87%	3.54%	3.57%	3.61%	3.25%	2.52%
R&D to Revenue	1.92%	1.94%	1.91%	1.80%	1.90%	2.01%	1.84%	1.80%	1.81%	1.90%	1.35%
Operating Expenses to Revenue	8.15%	6.39%	6.47%	6.07%	7.17%	6.44%	6.13%	6.15%	10.67%	5.25%	4.46%
Earnings before Interest and Taxes (EBIT)	-166	429	485	737	566	-191	572	874	37	1,015	1,173
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	548	1,180	1,226	1,419	1,286	466	1,229	1,523	685	1,669	1,841
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.46	1.62	2.09	2.04	2.18	1.96	1.76	1.79	1.79	1.54	0.00
Price to Tangible Book Value (P/TBV)	3.77	3.97	4.92	4.73	5.10	4.62	3.89	3.91	3.94	3.31	0.00
Price to Revenue (P/Rev)	0.58	0.65	0.89	0.87	0.92	0.82	0.75	0.73	0.68	0.56	0.00
Price to Earnings (P/E)	83.88	25.17	35.99	32.38	33.50	61.89	26.34	20.52	12.40	6.96	0.00
Dividend Yield	8.02%	6.98%	5.13%	5.28%	4.89%	5.39%	5.72%	5.53%	5.45%	6.18%	6.98%
Earnings Yield	1.19%	3.97%	2.78%	3.09%	2.98%	1.62%	3.80%	4.87%	8.07%	14.37%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.27	1.37	1.68	1.66	1.76	1.63	1.52	1.54	1.57	1.38	0.00
Enterprise Value to Revenue (EV/Rev)	0.87	0.92	1.14	1.11	1.15	1.03	0.95	0.92	0.83	0.71	0.00
Enterprise Value to EBITDA (EV/EBITDA)	8.49	7.71	11.23	10.86	11.16	11.81	8.54	7.91	6.35	4.47	0.00
Enterprise Value to EBIT (EV/EBIT)	25.00	17.79	30.92	28.36	27.59	35.67	17.46	14.59	10.25	6.43	0.00
Enterprise Value to NOPAT (EV/NOPAT)	69.17	29.15	24.43	22.53	22.86	29.13	31.31	24.36	15.70	9.54	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	14.61	13.53	13.15	10.35	9.80	8.87	7.76	7.66	6.92	5.43	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	44.07	35.82	17.36	25.14	16.77	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.02	0.97	0.93	0.93	0.92	0.84	0.79	0.78	0.74	0.77	0.78
Long-Term Debt to Equity	0.98	0.94	0.91	0.91	0.91	0.83	0.78	0.77	0.71	0.74	0.75
Financial Leverage	0.60	0.54	0.49	0.48	0.44	0.43	0.42	0.43	0.37	0.38	0.42
Leverage Ratio	3.21	3.12	3.02	2.97	3.95	2.94	3.04	2.84	4.72	3.09	3.20
Compound Leverage Factor	7.24	1.59	2.02	2.45	3.13	5.41	2.22	2.31	-15.29	2.63	2.73
Debt to Total Capital	50.42%	49.26%	48.29%	48.07%	47.93%	45.76%	44.26%	43.79%	42.42%	43.59%	43.74%
Short-Term Debt to Total Capital	1.83%	1.80%	1.12%	0.97%	0.48%	0.51%	0.92%	0.57%	1.46%	1.92%	1.66%
Long-Term Debt to Total Capital	48.60%	47.46%	47.17%	47.09%	47.46%	45.25%	43.34%	43.22%	40.97%	41.67%	42.08%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.45%	1.41%	1.45%	1.33%	1.35%	1.42%	1.42%	1.40%	1.48%	1.40%	1.55%
Common Equity to Total Capital	48.12%	49.33%	50.26%	50.60%	50.71%	52.82%	54.32%	54.80%	56.09%	55.00%	54.72%
Debt to EBITDA	4.02	3.39	4.00	3.95	3.87	4.13	3.12	2.79	2.19	1.81	0.00
Net Debt to EBITDA	2.75	2.12	2.40	2.27	2.14	2.34	1.70	1.56	1.09	0.90	0.00
Long-Term Debt to EBITDA	3.88	3.27	3.91	3.87	3.83	4.08	3.06	2.76	2.11	1.73	0.00
Debt to NOPAT	32.78	12.81	8.70	8.21	7.92	10.19	11.45	8.61	5.40	3.86	0.00
Net Debt to NOPAT	22.43	8.01	5.22	4.71	4.38	5.77	6.23	4.79	2.70	1.92	0.00
Long-Term Debt to NOPAT	31.59	12.34	8.50	8.04	7.84	10.08	11.21	8.50	5.21	3.69	0.00
Altman Z-Score	1.71	1.84	1.97	2.02	2.06	2.01	2.06	2.19	1.54	2.20	0.00
Noncontrolling Interest Sharing Ratio	2.76%	2.70%	2.68%	2.53%	2.59%	2.55%	2.65%	2.50%	2.58%	2.76%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.54	1.61	1.66	1.75	1.80	1.77	1.79	1.92	1.85	1.81	1.61
Quick Ratio	0.82	0.88	0.94	1.01	1.05	0.96	1.02	1.10	1.06	1.03	0.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-922	-501	-372	1,129	405	1,370	-1,998	-28,813	-28,366	0.00	-25,540
Operating Cash Flow to CapEx	12.73%	100.12%	100.38%	109.00%	60.57%	207.00%	255.08%	213.47%	107.65%	316.29%	381.89%
Free Cash Flow to Firm to Interest Expense	-4.27	-2.32	-1.87	5.73	2.04	6.95	-10.40	-167.52	-153.33	0.00	-164.77
Operating Cash Flow to Interest Expense	0.42	3.77	4.02	4.24	2.33	8.41	8.64	7.83	2.89	11.87	12.52
Operating Cash Flow Less CapEx to Interest Expense	-2.89	0.00	0.02	0.35	-1.52	4.35	5.25	4.16	0.21	8.12	9.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.73	0.75	0.73	0.74	0.56	0.75	0.78	0.84	0.55	0.92	0.00
Accounts Receivable Turnover	5.98	6.38	5.88	5.84	5.85	6.21	5.76	6.43	6.85	6.57	0.00
Inventory Turnover	5.88	6.08	5.95	5.92	5.85	6.08	5.91	6.71	6.82	6.73	0.00
Fixed Asset Turnover	1.96	2.00	2.02	2.05	2.09	2.15	2.26	2.41	2.63	2.78	0.00
Accounts Payable Turnover	5.76	5.96	5.77	5.83	5.78	5.87	5.85	7.06	7.10	6.18	0.00
Days Sales Outstanding (DSO)	61.02	57.25	62.12	62.50	62.38	58.77	63.32	56.76	53.31	55.51	0.00
Days Inventory Outstanding (DIO)	62.07	60.04	61.34	61.66	62.40	59.99	61.72	54.38	53.50	54.22	0.00
Days Payable Outstanding (DPO)	63.32	61.22	63.30	62.56	63.10	62.19	62.36	51.68	51.42	59.02	0.00
Cash Conversion Cycle (CCC)	59.77	56.08	60.16	61.61	61.68	56.57	62.68	59.46	55.39	50.71	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	29,334	28,690	29,395	28,776	28,537	28,232	28,752	29,407	28,337	29,398	26,378
Invested Capital Turnover	1.47	1.51	1.49	1.48	1.53	1.55	1.66	3.35	3.78	1.94	0.00
Increase / (Decrease) in Invested Capital	797	458	643	-631	200	-1,166	2,374	29,407	28,337	0.00	26,378
Enterprise Value (EV)	37,124	39,430	49,375	47,763	50,248	46,079	43,616	45,202	44,359	40,568	0.00
Market Capitalization	24,578	28,095	38,291	37,305	40,136	36,454	34,431	35,792	36,203	31,888	0.00
Book Value per Share	$23.85	$24.79	$26.12	$26.05	$26.15	$26.53	$27.83	$28.27	$28.63	$29.44	$25.36
Tangible Book Value per Share	$9.26	$10.10	$11.11	$11.21	$11.17	$11.25	$12.59	$12.94	$13.04	$13.69	$9.95
Total Capital	34,886	35,178	36,435	36,200	36,331	35,226	36,025	36,489	35,979	37,666	33,111
Total Debt	17,591	17,327	17,594	17,400	17,414	16,118	15,945	15,980	15,264	16,419	14,482
Total Long-Term Debt	16,953	16,695	17,187	17,048	17,241	15,939	15,612	15,771	14,739	15,695	13,933
Net Debt	12,039	10,839	10,554	9,976	9,620	9,124	8,672	8,898	7,622	8,151	7,749
Capital Expenditures (CapEx)	715	813	797	767	766	800	650	631	497	657	508
Debt-free, Cash-free Net Working Capital (DFCFNWC)	4,915	4,745	4,674	4,756	4,649	4,849	5,303	6,185	6,073	5,984	5,795
Debt-free Net Working Capital (DFNWC)	6,380	6,934	7,557	8,097	8,372	7,836	8,383	9,109	9,392	9,870	8,011
Net Working Capital (NWC)	5,742	6,302	7,150	7,745	8,199	7,657	8,050	8,900	8,867	9,146	7,462
Net Nonoperating Expense (NNE)	165	-8.15	31	40	67	299	49	93	44	-213	78
Net Nonoperating Obligations (NNO)	12,039	10,839	10,554	9,976	9,620	9,124	8,672	8,898	7,622	8,151	7,749
Total Depreciation and Amortization (D&A)	714	751	741	682	720	657	657	649	648	654	668
Debt-free, Cash-free Net Working Capital to Revenue	11.53%	11.04%	10.82%	11.05%	10.68%	10.87%	11.56%	12.56%	11.35%	10.52%	0.00%
Debt-free Net Working Capital to Revenue	14.97%	16.14%	17.50%	18.82%	19.23%	17.56%	18.28%	18.50%	17.56%	17.35%	0.00%
Net Working Capital to Revenue	13.47%	14.67%	16.56%	18.00%	18.83%	17.16%	17.55%	18.07%	16.58%	16.07%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.44)	($0.08)	$0.30	$0.62	$0.73	($0.16)	$0.43	$0.68	($0.13)	$0.89	$1.03
Adjusted Weighted Average Basic Shares Outstanding	706.90M	703.80M	702.30M	703.80M	704.50M	705.70M	704M	707M	708.20M	721M	714.30M
Adjusted Diluted Earnings per Share	($0.44)	($0.08)	$0.30	$0.62	$0.73	($0.15)	$0.42	$0.68	($0.13)	$0.89	$1.02
Adjusted Weighted Average Diluted Shares Outstanding	706.90M	705.10M	703.60M	705.30M	705.50M	709M	707.50M	709.90M	708.20M	725.60M	718.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	706.86M	703.83M	700.09M	700.92M	703.21M	702.29M	701.40M	703.07M	707.31M	704.88M	703.76M
Normalized Net Operating Profit after Tax (NOPAT)	20	213	289	498	385	189	376	600	349	383	838
Normalized NOPAT Margin	0.19%	2.05%	2.66%	4.56%	3.58%	1.78%	3.51%	5.25%	2.95%	3.23%	5.94%
Pre Tax Income Margin	-3.59%	2.10%	2.98%	5.57%	4.17%	-3.31%	3.89%	6.23%	-1.01%	7.29%	7.09%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.77	1.99	2.44	3.74	2.84	-0.97	2.98	5.08	0.20	5.80	7.57
NOPAT to Interest Expense	-0.58	-0.20	1.36	2.53	3.04	1.03	1.96	3.45	-0.16	2.48	5.41
EBIT Less CapEx to Interest Expense	-4.08	-1.78	-1.57	-0.15	-1.01	-5.03	-0.41	1.41	-2.49	2.05	4.29
NOPAT Less CapEx to Interest Expense	-3.89	-3.96	-2.64	-1.37	-0.81	-3.03	-1.43	-0.22	-2.85	-1.28	2.13
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	550.13%	170.11%	179.84%	168.32%	162.00%	312.27%	147.50%	113.02%	69.12%	45.02%	0.00%
Augmented Payout Ratio	628.95%	211.24%	234.09%	221.25%	217.07%	406.97%	192.08%	183.87%	130.48%	95.13%	0.00%

Frequently Asked Questions About DOW's Financials

When does DOW's fiscal year end?

According to the most recent income statement we have on file, DOW's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has DOW's net income changed over the last 4 years?

DOW's net income appears to be on a downward trend, with a most recent value of $1.20 billion in 2024, falling from $1.29 billion in 2020. The previous period was $660 million in 2023. View DOW's forecast to see where analysts expect DOW to go next.

What is DOW's operating income?

DOW's total operating income in 2024 was $1.80 billion, based on the following breakdown:

Total Gross Profit: $4.61 billion
Total Operating Expenses: $2.80 billion

How has DOW revenue changed over the last 4 years?

Over the last 4 years, DOW's total revenue changed from $38.54 billion in 2020 to $42.96 billion in 2024, a change of 11.5%.

How much debt does DOW have?

DOW's total liabilities were at $39.46 billion at the end of 2024, a 1.5% increase from 2023, and a 10.8% decrease since 2021.

How much cash does DOW have?

In the past 3 years, DOW's cash and equivalents has ranged from $2.19 billion in 2024 to $3.89 billion in 2022, and is currently $2.19 billion as of their latest financial filing in 2024.

How has DOW's book value per share changed over the last 4 years?

Over the last 4 years, DOW's book value per share changed from 0.00 in 2020 to 24.79 in 2024, a change of 2,479.0%.

Related Companies

This page (NYSE:DOW) was last updated on 6/1/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

DOW (DOW) Financials

Frequently Asked Questions About DOW's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

DOW (DOW) Financials

Annual Income Statements for DOW

Quarterly Income Statements for DOW

Annual Cash Flow Statements for DOW

Quarterly Cash Flow Statements for DOW

Annual Balance Sheets for DOW

Quarterly Balance Sheets for DOW

Annual Metrics And Ratios for DOW

Quarterly Metrics And Ratios for DOW

Frequently Asked Questions About DOW's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools