Dow Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Dow Inc reported revenue of $40.0B (-7.0% year on year) and net income of ($2.6B) (-335.0% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net sales | $40.0B | $43.0B | $44.6B | $56.9B |
| Cost of sales | $37.4B | $38.4B | $39.7B | $48.3B |
| Research and development expenses | $752.0M | $810.0M | $829.0M | $851.0M |
| Selling, general and administrative expenses | $1.4B | $1.6B | $1.6B | $1.7B |
| Amortization of intangibles | $231.0M | $310.0M | $324.0M | $336.0M |
| Restructuring, goodwill impairment and asset related charges - net | $1.9B | $103.0M | $528.0M | $118.0M |
| Equity in losses of nonconsolidated affiliates | ($240.0M) | ($6.0M) | ($119.0M) | $268.0M |
| Sundry income (expense) - net | $140.0M | $415.0M | ($280.0M) | $727.0M |
| Interest income | $152.0M | $200.0M | $229.0M | $173.0M |
| Interest expense and amortization of debt discount | $865.0M | $811.0M | $746.0M | $662.0M |
| Income (loss) before income taxes | ($2.5B) | $1.6B | $656.0M | $6.1B |
| Provision (credit) for income taxes | ($67.0M) | $399.0M | ($4.0M) | $1.4B |
| Net income (loss) | ($2.4B) | $1.2B | $660.0M | $4.6B |
| Net income attributable to noncontrolling interests | $179.0M | $85.0M | $71.0M | $58.0M |
| Net income (loss) available for The Dow Chemical Company common stockholder | ($2.6B) | $1.1B | $589.0M | $4.6B |
| Earnings (loss) per common share - basic | -$3.70 | $1.57 | $0.82 | $6.32 |
| Earnings (loss) per common share - diluted | -$3.70 | $1.57 | $0.82 | $6.28 |
| Weighted-average common shares outstanding - basic | 711.6M | 703.8M | 705.7M | 721.0M |
| Weighted-average common shares outstanding - diluted | 711.6M | 705.1M | 709.0M | 725.6M |
| Line item | Sep 30, 2026 · Q3 | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 |
|---|---|---|---|---|
| Net sales | $11.3B | $12.1B | $9.8B | $10.0B |
| Cost of sales | $9.9B | $9.9B | $9.2B | $9.2B |
| Research and development expenses | $180.0M | $207.0M | $181.0M | $191.0M |
| Selling, general and administrative expenses | $408.0M | $535.0M | $417.0M | $340.0M |
| Amortization of intangibles | $40.0M | $40.0M | $46.0M | $46.0M |
| Restructuring and asset related charges - net | $9.0M | $503.0M | $27.0M | $23.0M |
| Equity in earnings (losses) of nonconsolidated affiliates | $12.0M | $36.0M | ($303.0M) | ($72.0M) |
| Sundry income (expense) - net | $50.0M | $125.0M | $121.0M | $185.0M |
| Interest income | $50.0M | $38.0M | $42.0M | $47.0M |
| Interest expense and amortization of debt discount | $211.0M | $210.0M | $219.0M | $221.0M |
| Income (loss) before income taxes | $642.0M | $871.0M | ($390.0M) | $70.0M |
| Provision (credit) for income taxes | $117.0M | $69.0M | $55.0M | ($54.0M) |
| Net income (loss) | $525.0M | $802.0M | ($445.0M) | $124.0M |
| Net income attributable to noncontrolling interests | $67.0M | $81.0M | $88.0M | $62.0M |
| Net income (loss) available for The Dow Chemical Company common stockholder | $458.0M | $721.0M | ($533.0M) | $62.0M |
| Earnings (loss) per common share - basic | $0.63 | $0.99 | ($0.74) | $0.08 |
| Earnings (loss) per common share - diluted | $0.62 | $0.99 | ($0.74) | $0.08 |
| Weighted-average common shares outstanding - basic | 725.5M | 723.5M | 721.2M | 711.8M |
| Weighted-average common shares outstanding - diluted | 727.4M | 725.1M | 721.2M | 713.2M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $3.8B | $2.2B | $3.0B | $3.9B |
| Trade (net of allowance for doubtful receivables - 2025: $59; 2024: $95) | $4.8B | $4.8B | $4.7B | $5.6B |
| Other Receivables | $1.9B | $2.1B | $1.9B | $2.1B |
| Inventories | $6.6B | $6.5B | $6.1B | $7.0B |
| Other current assets | $1.0B | $993.0M | $1.9B | $1.8B |
| Total current assets (variable interest entities restricted - 2025: $228; 2024: $55) | $18.1B | $16.6B | $17.6B | $20.5B |
| Investment in nonconsolidated affiliates | $1.3B | $1.3B | $1.3B | $1.6B |
| Other investments (investments carried at fair value - 2025: $2,212; 2024: $2,047) | $3.0B | $3.0B | $2.7B | $2.8B |
| Noncurrent receivables | $309.0M | $380.0M | $438.0M | $666.0M |
| Total investments | $4.6B | $4.7B | $4.4B | $5.0B |
| Property | $65.9B | $62.1B | $60.2B | $58.1B |
| Less: Accumulated depreciation | $43.6B | $40.1B | $39.1B | $37.6B |
| Net property | $22.3B | $22.0B | $21.1B | $20.4B |
| Goodwill | $8.0B | $8.6B | $8.6B | $8.6B |
| Other intangible assets (net of accumulated amortization - 2025: $5,727; 2024: $5,394) | $1.5B | $1.7B | $2.1B | $2.4B |
| Operating lease right-of-use assets | $1.4B | $1.3B | $1.3B | $1.2B |
| Deferred income tax assets | $1.5B | $1.3B | $1.5B | $960.0M |
| Deferred charges and other assets | $1.3B | $1.2B | $1.3B | $1.4B |
| Total other assets (variable interest entities restricted - 2025: $226; 2024: $15) | $13.6B | $14.0B | $14.8B | $14.6B |
| Total Assets | $58.5B | $57.3B | $58.0B | $60.6B |
| Notes payable | $90.0M | $135.0M | $62.0M | $362.0M |
| Long-term debt due within one year | $222.0M | $497.0M | $117.0M | $362.0M |
| Accounts Payable, Trade | $4.2B | $4.8B | $4.5B | $4.9B |
| Accounts Payable, Other | $1.4B | $1.7B | $1.8B | $2.3B |
| Operating lease liabilities - current | $340.0M | $318.0M | $329.0M | $287.0M |
| Income taxes payable | $337.0M | $276.0M | $419.0M | $334.0M |
| Accrued and other current liabilities | $2.6B | $2.5B | $2.7B | $2.8B |
| Total current liabilities (variable interest entities restricted - 2025: $438; 2024: $24) | $9.2B | $10.3B | $10.0B | $11.3B |
| Long-Term Debt (variable interest entities restricted - 2025: $190; 2024: $—) | $17.8B | $15.7B | $14.9B | $14.7B |
| Deferred income tax liabilities | $364.0M | $392.0M | $399.0M | $1.1B |
| Pension and other postretirement benefits - noncurrent | $4.7B | $4.7B | $4.9B | $3.8B |
| Asbestos-related liabilities - noncurrent | $628.0M | $713.0M | $788.0M | $857.0M |
| Operating lease liabilities - noncurrent | $1.1B | $984.0M | $1.0B | $997.0M |
| Other noncurrent obligations | $7.2B | $6.6B | $6.8B | $6.6B |
| Total other noncurrent liabilities (variable interest entities restricted - 2025: $364; 2024: $13) | $14.0B | $13.5B | $14.0B | $13.3B |
| Common stock (authorized and issued 100 shares of $0.01 par value each) | 8.0M | 8.0M | 8.0M | 8.0M |
| Additional paid-in capital | $11.1B | $9.2B | $8.9B | $8.5B |
| Retained earnings | $16.8B | $20.9B | $21.8B | $23.2B |
| Accumulated other comprehensive loss | ($7.7B) | ($8.1B) | ($7.7B) | ($7.1B) |
| Treasury stock at cost (2025: 73,065,152 shares; 2024: 80,859,145 shares) | -4.2B | -4.7B | -4.4B | -3.9B |
| Dow Inc.’s stockholders’ equity | $16.0B | $17.4B | $18.6B | $20.7B |
| Noncontrolling interests | $1.5B | $496.0M | $501.0M | $529.0M |
| Total equity | $17.5B | $17.9B | $19.1B | $21.2B |
| Total Liabilities and Equity | $58.5B | $57.3B | $58.0B | $60.6B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents (variable interest entities restricted - 2026: $266; 2025: $31) | $4.1B | $4.0B | $4.1B | $4.6B |
| Trade (net of allowance for doubtful receivables - 2026: $66; 2025: $59) | $5.9B | $6.4B | $5.2B | $5.0B |
| Other | $1.7B | $2.0B | $2.2B | $2.1B |
| Inventories | $7.0B | $7.2B | $6.8B | $6.7B |
| Other current assets | $1.4B | $1.2B | $1.2B | $1.2B |
| Total current assets (variable interest entities restricted - 2026: $471; 2025: $228) | $20.2B | $20.9B | $19.5B | $19.6B |
| Investment in nonconsolidated affiliates | $1.1B | $1.1B | $1.1B | $1.3B |
| Other investments (investments carried at fair value - 2026: $2,320; 2025: $2,212) | $3.2B | $3.3B | $3.0B | $2.8B |
| Noncurrent receivables | $612.0M | $563.0M | $444.0M | $427.0M |
| Total investments | $4.9B | $5.0B | $4.6B | $4.5B |
| Property | $67.2B | $66.6B | $66.0B | $65.3B |
| Less: Accumulated depreciation | $44.8B | $44.4B | $43.9B | $42.8B |
| Net property (variable interest entities restricted - 2026: $2,330; 2025: $2,385) | $22.4B | $22.2B | $22.1B | $22.5B |
| Goodwill | $7.9B | $7.9B | $7.9B | $8.7B |
| Other intangible assets (net of accumulated amortization - 2026: $5,882; 2025: $5,727) | $1.3B | $1.4B | $1.4B | $1.5B |
| Operating lease right-of-use assets | $1.3B | $1.4B | $1.4B | $1.3B |
| Deferred income tax assets | $1.6B | $1.6B | $1.5B | $1.4B |
| Deferred charges and other assets | $1.3B | $1.3B | $1.3B | $1.3B |
| Total other assets (variable interest entities restricted - 2026: $204; 2025: $226) | $13.4B | $13.5B | $13.6B | $14.3B |
| Total Assets | $61.0B | $61.6B | $59.8B | $61.0B |
| Notes payable | $16.0M | $86.0M | $88.0M | $133.0M |
| Long-term debt due within one year | $745.0M | $758.0M | $793.0M | $413.0M |
| Accounts payable - Trade | $5.3B | $5.4B | $4.8B | $4.5B |
| Accounts payable - Other | $1.4B | $1.6B | $1.4B | $1.7B |
| Operating lease liabilities - current | $341.0M | $341.0M | $348.0M | $324.0M |
| Income taxes payable | $367.0M | $359.0M | $344.0M | $271.0M |
| Accrued Liabilities, Current | $3.4B | $3.4B | $2.8B | $2.8B |
| Total current liabilities (variable interest entities nonrecourse - 2026: $503; 2025: $438) | $11.5B | $11.9B | $10.5B | $10.1B |
| Long-term debt | $16.8B | $17.2B | $17.3B | $17.7B |
| Deferred income tax liabilities | $368.0M | $353.0M | $348.0M | $383.0M |
| Pension and other postretirement benefits - noncurrent | $4.3B | $4.5B | $4.5B | $4.7B |
| Asbestos-related liabilities - noncurrent | $564.0M | $582.0M | $602.0M | $645.0M |
| Operating lease liabilities - noncurrent | $1.0B | $1.1B | $1.1B | $1.0B |
| Other noncurrent obligations | $8.8B | $8.6B | $8.6B | $7.4B |
| Total other noncurrent liabilities (variable interest entities nonrecourse - 2026: $331; 2025: $364) | $15.1B | $15.1B | $15.2B | $14.1B |
| Common stock (authorized 5,000,000,000 shares of $0.01 par value each; issued 2026: 791,927,232 shares; 2025: 790,287,565 shares) | 8.0M | 8.0M | 8.0M | 8.0M |
| Additional Paid in Capital, Common Stock | $11.1B | $11.1B | $11.1B | $11.1B |
| Retained earnings | $16.7B | $16.5B | $16.0B | $18.6B |
| Accumulated other comprehensive loss | ($7.7B) | ($7.7B) | ($7.7B) | ($7.8B) |
| Treasury stock at cost (2026: 68,045,325 shares; 2025: 73,065,152 shares) | -3.9B | -4.0B | -4.1B | -4.4B |
| Dow Inc.’s stockholders’ equity | $16.2B | $15.9B | $15.2B | $17.5B |
| Noncontrolling interests | $1.5B | $1.5B | $1.5B | $1.5B |
| Total equity | $17.6B | $17.4B | $16.8B | $19.1B |
| Total Liabilities and Equity | $61.0B | $61.6B | $59.8B | $61.0B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | ($2.4B) | $1.2B | $660.0M | $4.6B |
| Depreciation and amortization | $2.8B | $2.9B | $2.6B | $2.8B |
| Provision (Credit) for deferred income tax | ($341.0M) | $135.0M | ($1.2B) | $79.0M |
| Earnings of nonconsolidated affiliates less than (in excess of) dividends received | $439.0M | $348.0M | $387.0M | $696.0M |
| Net periodic pension benefit cost | ($95.0M) | ($210.0M) | $548.0M | $23.0M |
| Pension contributions | ($209.0M) | ($121.0M) | ($142.0M) | ($235.0M) |
| Net gain on sales of assets, businesses and investments | ($220.0M) | ($65.0M) | ($70.0M) | ($19.0M) |
| Restructuring, goodwill impairment and asset related charges - net | $1.9B | $103.0M | $528.0M | $118.0M |
| Other net loss | $440.0M | $239.0M | $796.0M | $212.0M |
| Accounts and notes receivable | $73.0M | ($224.0M) | $1.2B | $1.2B |
| Inventories | ($52.0M) | ($529.0M) | $844.0M | $347.0M |
| Accounts payable | ($999.0M) | $278.0M | ($734.0M) | ($1.3B) |
| Other assets and liabilities, net | ($220.0M) | ($1.1B) | ($203.0M) | ($1.1B) |
| Cash provided by operating activities - continuing operations | $1.1B | $2.9B | $5.2B | $7.5B |
| Cash provided by (used for) operating activities - discontinued operations | ($30.0M) | $11.0M | $32.0M | ($11.0M) |
| Cash provided by (used for) operating activities | $1.0B | $2.9B | $5.2B | $7.5B |
| Capital expenditures | ($2.5B) | ($2.9B) | ($2.4B) | ($1.8B) |
| Proceeds from incentives related to capital expenditures | $145.0M | — | — | — |
| Cash flow hedging related to capital expenditures | ($40.0M) | — | — | — |
| Investment in gas field developments | ($157.0M) | ($203.0M) | ($215.0M) | ($190.0M) |
| Purchases of previously leased assets | $0 | $0 | ($7.0M) | ($7.0M) |
| Proceeds from sales of property and businesses, net of cash divested | $139.0M | $234.0M | $95.0M | $32.0M |
| Acquisitions of property and businesses, net of cash acquired | $0 | ($125.0M) | ($114.0M) | ($228.0M) |
| Investments in and loans to nonconsolidated affiliates | ($32.0M) | ($28.0M) | ($5.0M) | ($148.0M) |
| Distributions and loan repayments from nonconsolidated affiliates | $0 | $0 | $2.0M | $52.0M |
| Proceeds from Sale of Equity Method Investments | $125.0M | $0 | $63.0M | $11.0M |
| Purchases of investments | ($881.0M) | ($1.8B) | ($2.3B) | ($1.4B) |
| Proceeds from sales and maturities of investments | $1.0B | $2.5B | $2.0B | $747.0M |
| Other investing activities, net | $32.0M | ($33.0M) | ($61.0M) | ($50.0M) |
| Cash provided by (used for) investing activities | ($2.1B) | ($2.4B) | ($2.9B) | ($3.0B) |
| Changes in short-term notes payable | ($5.0M) | ($61.0M) | ($249.0M) | $253.0M |
| Proceeds from Short-term Debt, Maturing in More than Three Months | $64.0M | $143.0M | $0 | $0 |
| Repayments of Short-term Debt, Maturing in More than Three Months | ($63.0M) | ($17.0M) | $0 | ($14.0M) |
| Proceeds from issuance of long-term debt | $2.8B | $1.5B | $104.0M | $1.7B |
| Payments on long-term debt | ($1.5B) | ($267.0M) | ($446.0M) | ($1.0B) |
| Proceeds from (Repayments of) Accounts Receivable Securitization | ($9.0M) | ($9.0M) | — | — |
| Purchases of treasury stock | $0 | ($494.0M) | ($625.0M) | ($2.3B) |
| Proceeds from issuance of parent company stock | $85.0M | $166.0M | $188.0M | $212.0M |
| Transaction financing, debt issuance and other costs | ($137.0M) | ($14.0M) | ($2.0M) | ($24.0M) |
| Employee taxes paid for share-based payment arrangements | ($18.0M) | ($39.0M) | ($42.0M) | ($35.0M) |
| Distributions to noncontrolling interests | ($173.0M) | ($77.0M) | ($89.0M) | ($83.0M) |
| Proceeds from Noncontrolling Interests | $2.9B | — | — | — |
| Dividends paid to stockholders | ($1.5B) | ($2.0B) | ($2.0B) | ($2.0B) |
| Other financing activities, net | ($6.0M) | — | — | — |
| Cash used for financing activities | $2.5B | ($1.2B) | ($3.1B) | ($3.4B) |
| Line item | Sep 30, 2026 · YTD | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD |
|---|---|---|---|---|
| Net income (loss) | $882.0M | $357.0M | ($445.0M) | ($967.0M) |
| Depreciation and amortization | $2.0B | $1.4B | $719.0M | $2.1B |
| Credit for deferred income tax | ($94.0M) | ($114.0M) | ($48.0M) | ($179.0M) |
| Earnings of nonconsolidated affiliates less than dividends received | $534.0M | $543.0M | $502.0M | $312.0M |
| Net periodic pension benefit credit | ($25.0M) | ($16.0M) | ($8.0M) | ($73.0M) |
| Pension contributions | ($138.0M) | ($78.0M) | ($41.0M) | ($145.0M) |
| Net gain on sales of assets, businesses and investments | ($48.0M) | ($49.0M) | ($4.0M) | ($211.0M) |
| Restructuring and asset related charges - net | $539.0M | $530.0M | $27.0M | $822.0M |
| Other net loss | $109.0M | $3.0M | ($14.0M) | $134.0M |
| Accounts and notes receivable | ($1.2B) | ($1.8B) | ($531.0M) | ($400.0M) |
| Inventories | ($429.0M) | ($638.0M) | ($180.0M) | ($132.0M) |
| Accounts payable | $1.0B | $1.3B | $551.0M | ($492.0M) |
| Other assets and liabilities, net | $1.1B | $941.0M | $596.0M | ($31.0M) |
| Cash provided by operating activities - continuing operations | $4.3B | $2.4B | $1.1B | $764.0M |
| Cash provided by (used for) operating activities - discontinued operations | $6.0M | $7.0M | $0 | ($16.0M) |
| Cash provided by operating activities | $4.3B | $2.5B | $1.1B | $748.0M |
| Capital expenditures | ($1.8B) | ($1.1B) | ($503.0M) | ($1.9B) |
| Proceeds from incentives related to capital expenditures | $67.0M | $49.0M | $40.0M | $132.0M |
| Cash flow hedging related to capital expenditures | ($22.0M) | ($6.0M) | $3.0M | — |
| Investment in gas field developments | ($69.0M) | ($48.0M) | ($21.0M) | ($110.0M) |
| Proceeds from sales of property, businesses and consolidated companies, net of cash divested | $60.0M | $58.0M | $4.0M | $135.0M |
| Investments in and loans to nonconsolidated affiliates | ($133.0M) | ($133.0M) | $0 | ($21.0M) |
| Proceeds from sales of ownership interests in nonconsolidated affiliates | $0 | — | — | $125.0M |
| Purchases of investments | ($1.1B) | ($782.0M) | ($331.0M) | ($523.0M) |
| Proceeds from sales and maturities of investments | $675.0M | $524.0M | $319.0M | $711.0M |
| Other investing activities, net | $61.0M | $53.0M | $41.0M | $5.0M |
| Cash used for investing activities | ($2.3B) | ($1.4B) | ($448.0M) | ($1.5B) |
| Changes in short-term notes payable | $1.0M | $17.0M | $0 | $36.0M |
| Proceeds from issuance of short-term debt greater than three months | $20.0M | $16.0M | $4.0M | $50.0M |
| Payments on short-term debt greater than three months | ($92.0M) | ($34.0M) | ($4.0M) | ($46.0M) |
| Proceeds from issuance of long-term debt | $100.0M | $81.0M | $52.0M | $2.7B |
| Payments on long-term debt | ($577.0M) | ($206.0M) | ($46.0M) | ($1.2B) |
| Proceeds from (Repayments of) Accounts Receivable Securitization | $0 | $0 | $0 | ($3.0M) |
| Transaction financing, debt issuance and other costs | ($52.0M) | ($3.0M) | ($1.0M) | ($130.0M) |
| Employee taxes paid for share-based payment arrangements | ($15.0M) | ($15.0M) | ($14.0M) | ($16.0M) |
| Distributions to noncontrolling interests | ($232.0M) | ($158.0M) | ($59.0M) | ($93.0M) |
| Proceeds from Noncontrolling Interests | $0 | $0 | — | $2.9B |
| Dividends paid to stockholders | ($758.0M) | ($505.0M) | ($252.0M) | ($1.2B) |
| Proceeds from (Payment for) Other Financing Activity | $0 | — | — | ($6.0M) |
| Cash provided by (used for) financing activities | ($1.6B) | ($807.0M) | ($320.0M) | $2.9B |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | ($76.0M) | ($76.0M) | ($73.0M) | $259.0M |
| Increase in cash, cash equivalents and restricted cash | $320.0M | $152.0M | $283.0M | $2.5B |
| Cash, cash equivalents and restricted cash at beginning of period | $4.0B | $4.0B | $4.0B | $2.3B |
| Cash, cash equivalents and restricted cash at end of period | $4.3B | $4.1B | $4.2B | $4.8B |
| Less: Restricted cash and cash equivalents, included in "Other current assets" | $130.0M | $131.0M | $125.0M | $145.0M |
Dow Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.