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USD millions

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

FY2017

Revenue

39,968

42,964

44,622

56,902

54,968

38,542

42,951

49,604

43,730

Net income

(2,623)

1,116

589

4,582

6,311

1,225

(1,359)

4,641

465

Diluted EPS

(3.70)

1.57

0.82

6.28

8.38

1.64

(1.84)

6.21

0.60

Diluted shares

712

705

709

726

749

742

743

747

745

Operating cash flow

1,032

2,914

5,196

7,475

7,009

6,226

5,930

4,254

(4,929)

Capital expenditures

2,479

2,940

2,356

1,823

1,501

1,252

1,961

2,091

2,807

Free cash flow

(1,447)

(26)

2,840

5,652

5,508

4,974

3,969

2,163

(7,736)

Cash & equivalents

3,816

2,189

2,987

3,886

2,988

5,104

2,367

2,724

—

Total assets

58,538

57,312

57,967

60,603

62,990

61,470

60,524

83,699

—

Shareholders' equity

16,008

17,355

18,607

20,718

18,165

12,435

13,541

32,483

—

DOW INC.

DOWCIK 00017517889 fiscal years

RevenueFY2025

$39.97B7.0%

Net incomeFY2025

−$2.62B335.0%

Free cash flowFY2025

−$1.45B5,465.4%

Diluted EPSFY2025

$-3.70335.7%

Trends

FY2017–FY2025 · hover a year for its filing

Revenue & net incomeRevenueNet income

net margin 1.1% → -6.6%

MarginsNet marginFCF margin

FY2025: net -6.6% · free cash flow -3.6% of revenue

Cash flowOperating cash flowFree cash flow

FY2025: $1.03B operating cash − $2.48B capex = −$1.45B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity 14% (FY2018) → -16% (FY2025) · on assets -4.5%

Financial statements

Annual Quarterly

USD millions, except per-share values; share counts in millions. Hover a value for its XBRL tag and filing accession.

USD millions	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Revenue	39,968	42,964	44,622	56,902	54,968	38,542	42,951	49,604	43,730
Net income	(2,623)	1,116	589	4,582	6,311	1,225	(1,359)	4,641	465
Diluted EPS	(3.70)	1.57	0.82	6.28	8.38	1.64	(1.84)	6.21	0.60
Diluted shares	712	705	709	726	749	742	743	747	745
Operating cash flow	1,032	2,914	5,196	7,475	7,009	6,226	5,930	4,254	(4,929)
Capital expenditures	2,479	2,940	2,356	1,823	1,501	1,252	1,961	2,091	2,807
Free cash flow	(1,447)	(26)	2,840	5,652	5,508	4,974	3,969	2,163	(7,736)
Cash & equivalents	3,816	2,189	2,987	3,886	2,988	5,104	2,367	2,724	—
Total assets	58,538	57,312	57,967	60,603	62,990	61,470	60,524	83,699	—
Shareholders' equity	16,008	17,355	18,607	20,718	18,165	12,435	13,541	32,483	—

As reported in SEC filings; a missing tag shows “—”, never zero. Free cash flow is operating cash flow − capex. Methodology