Dow Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $39.97B | $42.96B | $44.62B | $56.90B | $54.97B | $38.54B | $42.95B | $49.60B |
| Cost of Revenue | $37.44B | $38.36B | $39.74B | $48.34B | $44.19B | $33.35B | $36.66B | $41.07B |
| Gross Profit | $2.53B | $4.61B | $4.88B | $8.56B | $10.78B | $5.20B | $6.29B | $8.53B |
| Gross Margin | 6.3% | 10.7% | 10.9% | 15.1% | 19.6% | 13.5% | 14.7% | 17.2% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $1.39B | $1.58B | $1.63B | $1.68B | $1.65B | $1.47B | $1.59B | $1.78B |
| Operating Income | $-1.65B | $2.41B | $1.40B | $6.75B | $8.88B | $2.90B | $-314.0M | $4.81B |
| Operating Margin | -4.1% | 5.6% | 3.1% | 11.9% | 16.1% | 7.5% | -0.7% | 9.7% |
| Interest Expense | $865.0M | $811.0M | $746.0M | $662.0M | $731.0M | $827.0M | $933.0M | $1.06B |
| Pretax Income | $-2.51B | $1.60B | $656.0M | $6.09B | $8.15B | $2.07B | $-1.25B | $3.75B |
| Income Tax Expense | $-67.0M | $399.0M | $-4.0M | $1.45B | $1.74B | $777.0M | $470.0M | $809.0M |
| Net Income | $-2.44B | $1.20B | $660.0M | $4.64B | $6.41B | $1.29B | $-1.27B | $4.78B |
| Net Margin | -6.1% | 2.8% | 1.5% | 8.2% | 11.7% | 3.4% | -3.0% | 9.6% |
| EPS (Basic) | $-3.70 | $1.57 | $0.82 | $6.32 | $8.44 | $1.64 | $-1.84 | $6.21 |
| EPS (Diluted) | $-3.70 | $1.57 | $0.82 | $6.28 | $8.38 | $1.64 | $-1.84 | $6.21 |
| Shares Outstanding (Basic) | 711.6M | 703.8M | 705.7M | 721.0M | 743.6M | 740.5M | 742.5M | 747.2M |
| Shares Outstanding (Diluted) | 711.6M | 705.1M | 709.0M | 725.6M | 749.0M | 742.3M | 742.5M | 747.2M |
| Dividends Per Share | $2.10 | $2.80 | $2.80 | $2.80 | $2.80 | $2.80 | $2.10 | $0.00 |