Dow Inc. Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	39,968	42,964	44,622	56,902	54,968
Revenue Growth (YoY)	-6.97%	-3.72%	-21.58%	3.52%	42.62%
Cost of Revenue	37,477	38,283	39,565	48,338	44,258
Gross Profit	2,491	4,681	5,057	8,564	10,710
Selling, General & Admin	1,569	1,317	1,907	1,337	1,313
Research & Development	752	810	829	851	857
Amortization of Goodwill & Intangibles	231	310	324	336	388
Operating Expenses	2,552	2,437	3,060	2,524	2,558
Operating Income	-61	2,244	1,997	6,040	8,152
Interest Expense	-865	-811	-746	-662	-731
Interest & Investment Income	152	200	229	173	55
Earnings From Equity Investments	-240	-6	-119	268	975
Currency Exchange Gain (Loss)	39	-45	-340	-117	-8
Other Non Operating Income (Expenses)	120	100	125	31	10
EBT Excluding Unusual Items	-855	1,682	1,146	5,733	8,453
Merger & Restructuring Charges	-863	-103	-528	-	-6
Impairment of Goodwill	-690	-	-	-	-
Gain (Loss) on Sale of Investments	143	18	-18	-	-
Gain (Loss) on Sale of Assets	113	60	80	78	121
Asset Writedown	-303	-	-	-	-
Legal Settlements	42	-	-55	401	121
Other Unusual Items	-98	-57	31	-122	-544
Pretax Income	-2,511	1,600	656	6,090	8,145
Income Tax Expense	-67	399	-4	1,450	1,740
Earnings From Continuing Operations	-2,444	1,201	660	4,640	6,405
Net Income to Company	-2,444	1,201	660	4,640	6,405
Minority Interest in Earnings	-179	-85	-71	-58	-94
Net Income	-2,623	1,116	589	4,582	6,311
Preferred Dividends & Other Adjustments	11	12	11	24	32
Net Income to Common	-2,634	1,104	578	4,558	6,279
Net Income Growth	-	89.47%	-87.14%	-27.40%	415.18%
Shares Outstanding (Basic)	712	704	706	721	744
Shares Outstanding (Diluted)	712	705	709	726	749
Shares Change (YoY)	0.92%	-0.55%	-2.29%	-3.12%	0.90%
EPS (Basic)	-3.70	1.57	0.82	6.32	8.44
EPS (Diluted)	-3.70	1.57	0.82	6.28	8.38
EPS Growth	-	91.52%	-86.96%	-25.06%	410.98%
Free Cash Flow	-1,604	-354	2,504	5,227	4,593
Free Cash Flow Per Share	-2.25	-0.50	3.53	7.20	6.13
Dividend Per Share	2.100	2.800	2.800	2.800	2.800
Dividend Growth	-25.00%	-	-	-	-
Gross Margin	6.23%	10.90%	11.33%	15.05%	19.48%
Operating Margin	-0.15%	5.22%	4.47%	10.62%	14.83%
Profit Margin	-6.59%	2.57%	1.29%	8.01%	11.42%
Free Cash Flow Margin	-4.01%	-0.82%	5.61%	9.19%	8.36%
EBITDA	2,703	5,071	4,538	8,718	10,904
EBITDA Margin	6.76%	11.80%	10.17%	15.32%	19.84%
D&A For EBITDA	2,764	2,827	2,541	2,678	2,752
EBIT	-61	2,244	1,997	6,040	8,152
EBIT Margin	-0.15%	5.22%	4.47%	10.62%	14.83%
Effective Tax Rate	-	24.94%	-	23.81%	21.36%

Updated Jan 29, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q