Dow Inc. (DOW)

Dow Inc. Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-2,623	1,116	589	4,582	6,311
Depreciation & Amortization	2,834	2,827	2,541	2,678	2,752
Other Amortization	-	67	70	80	90
Loss (Gain) From Sale of Assets	-220	-65	-70	-19	-105
Asset Writedown & Restructuring Costs	1,856	103	528	-	6
Loss (Gain) on Equity Investments	439	348	387	696	-651
Other Operating Activities	-26	128	51	255	113
Change in Accounts Receivable	73	-224	1,161	1,187	-2,132
Change in Inventory	-52	-529	844	347	-1,768
Change in Accounts Payable	-999	278	-734	-1,255	2,458
Change in Other Net Operating Assets	-220	-1,146	-203	-1,065	-5
Operating Cash Flow	1,032	2,914	5,196	7,475	7,009
Operating Cash Flow Growth	-64.59%	-43.92%	-30.49%	6.65%	12.58%
Capital Expenditures	-2,636	-3,268	-2,692	-2,248	-2,416
Sale of Property, Plant & Equipment	139	234	95	32	68
Investment in Securities	234	699	-270	-704	-556
Other Investing Activities	137	-33	-61	-50	-10
Investing Cash Flow	-2,126	-2,368	-2,928	-2,970	-2,914
Short-Term Debt Issued	64	143	-	253	144
Long-Term Debt Issued	2,778	1,467	104	1,667	109
Total Debt Issued	2,842	1,610	104	1,920	253
Short-Term Debt Repaid	-68	-78	-249	-14	-178
Long-Term Debt Repaid	-1,461	-267	-446	-1,006	-2,771
Total Debt Repaid	-1,529	-345	-695	-1,020	-2,949
Net Debt Issued (Repaid)	1,313	1,265	-591	900	-2,696
Issuance of Common Stock	85	166	188	212	320
Repurchase of Common Stock	-18	-533	-667	-2,360	-1,012
Common Dividends Paid	-1,490	-1,966	-1,972	-2,006	-2,073
Other Financing Activities	2,618	-100	-73	-107	-610
Financing Cash Flow	2,508	-1,168	-3,115	-3,361	-6,071
Foreign Exchange Rate Adjustments	275	-163	-45	-237	-99
Miscellaneous Cash Flow Adjustments	-136	-74	-61	-54	-45
Net Cash Flow	1,553	-859	-953	853	-2,120
Free Cash Flow	-1,604	-354	2,504	5,227	4,593
Free Cash Flow Growth	-	-	-52.09%	13.80%	-4.99%
Free Cash Flow Margin	-4.01%	-0.82%	5.61%	9.19%	8.36%
Free Cash Flow Per Share	-2.25	-0.50	3.53	7.20	6.13
Cash Interest Paid	-	887	800	675	801
Cash Income Tax Paid	-	827	735	793	731
Levered Free Cash Flow	-1,153	-127.38	2,642	4,058	4,108
Unlevered Free Cash Flow	-612.5	379.5	3,108	4,472	4,565
Change in Working Capital	-1,198	-1,621	1,068	-786	-1,447

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

SEC Filings: 10-K · 10-Q