Dow Inc. (DOW)
NYSE: DOW · Real-Time Price · USD
34.13
+0.35 (1.04%)
At close: Oct 28, 2026, 4:00 PM EDT
34.12
-0.01 (-0.03%)
After-hours: Oct 28, 2026, 7:19 PM EDT
Dow Inc. Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Net Income | -897 | -2,623 | 1,116 | 589 | 4,582 | 6,311 |
Depreciation & Amortization | 2,687 | 2,764 | 2,827 | 2,541 | 2,678 | 2,752 |
Other Amortization | 70 | 70 | 67 | 70 | 80 | 90 |
Loss (Gain) From Sale of Assets | 383 | 220 | 174 | 726 | -19 | -105 |
Asset Writedown & Restructuring Costs | 1,548 | 1,856 | 103 | 528 | - | 6 |
Loss (Gain) on Equity Investments | 661 | 439 | 348 | 387 | 696 | -651 |
Other Operating Activities | -203 | -466 | -111 | -745 | 255 | 113 |
Change in Accounts Receivable | -741 | 73 | -224 | 1,161 | 1,187 | -2,132 |
Change in Inventory | -349 | -52 | -529 | 844 | 347 | -1,768 |
Change in Accounts Payable | 507 | -999 | 278 | -734 | -1,255 | 2,458 |
Change in Other Net Operating Assets | 919 | -220 | -1,146 | -203 | -1,065 | -5 |
Operating Cash Flow | 4,577 | 1,032 | 2,914 | 5,196 | 7,475 | 7,009 |
Operating Cash Flow Growth | 193.02% | -64.59% | -43.92% | -30.49% | 6.65% | 12.58% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Capital Expenditures | -2,525 | -2,636 | -3,143 | -2,692 | -2,248 | -2,416 |
Sale of Property, Plant & Equipment | -61 | 14 | 119 | 95 | 32 | 68 |
Cash Acquisitions | - | - | -125 | - | - | - |
Divestitures | 125 | 125 | 115 | - | - | - |
Investment in Securities | -606 | 234 | 699 | -270 | -704 | -556 |
Other Investing Activities | 106 | 137 | -33 | -61 | -50 | -10 |
Investing Cash Flow | -2,961 | -2,126 | -2,368 | -2,928 | -2,970 | -2,914 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Short-Term Debt Issued | - | 64 | 143 | - | 253 | 144 |
Long-Term Debt Issued | - | 2,778 | 1,467 | 104 | 1,667 | 109 |
Total Debt Issued | 225 | 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 | -945 | -1,529 | -345 | -695 | -1,020 | -2,949 |
Net Debt Issued (Repaid) | -720 | 1,313 | 1,265 | -591 | 900 | -2,696 |
Issuance of Common Stock | 85 | 85 | 166 | 188 | 212 | 320 |
Repurchase of Common Stock | -17 | -18 | -533 | -667 | -2,360 | -1,012 |
Common Dividends Paid | -1,009 | -1,490 | -1,966 | -1,972 | -2,006 | -2,073 |
Other Financing Activities | -377 | 2,618 | -100 | -73 | -107 | -610 |
Financing Cash Flow | -2,038 | 2,508 | -1,168 | -3,115 | -3,361 | -6,071 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -60 | 275 | -163 | -45 | -237 | -99 |
Miscellaneous Cash Flow Adjustments | -121 | -136 | -74 | -61 | -54 | -45 |
Net Cash Flow | -603 | 1,553 | -859 | -953 | 853 | -2,120 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Free Cash Flow | 2,052 | -1,604 | -229 | 2,504 | 5,227 | 4,593 |
Free Cash Flow Growth | - | - | - | -52.09% | 13.80% | -4.99% |
Free Cash Flow Margin | 4.81% | -4.01% | -0.53% | 5.61% | 9.19% | 8.36% |
Free Cash Flow Per Share | 2.84 | -2.25 | -0.33 | 3.53 | 7.20 | 6.13 |
Levered Free Cash Flow | 897.63 | -784.75 | -2.38 | 2,241 | 4,058 | 4,108 |
Unlevered Free Cash Flow | 1,435 | -244.13 | 504.5 | 2,707 | 4,472 | 4,565 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Cash Interest Paid | 948 | 948 | 887 | 800 | 675 | 801 |
Cash Income Tax Paid | 256 | 256 | 827 | 735 | 793 | 731 |
Change in Working Capital | 336 | -1,198 | -1,621 | 1,068 | -786 | -1,447 |