Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $43.7B | $49.6B | $43.0B | $38.5B | $55.0B | $56.9B | $44.6B | $43.0B | $40.0B |
| Revenue growth | — | 13.4% | -13.4% | -10.3% | 42.6% | 3.5% | -21.6% | -3.7% | -7.0% |
| Gross profit | — | $8.53B | $6.29B | $5.20B | — | — | — | — | — |
| Gross margin | — | 17.2% | 14.7% | 13.5% | — | — | — | — | — |
| Net income | $595M | $4.78B | -$1.27B | $1.29B | $6.41B | $4.64B | $660M | $1.20B | -$2.44B |
| Net margin | 1.4% | 9.6% | -3.0% | 3.4% | 11.7% | 8.2% | 1.5% | 2.8% | -6.1% |
| EPS (diluted) | $0.60 | $6.21 | -$1.84 | $1.64 | $8.38 | $6.28 | $0.82 | $1.57 | -$3.70 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$4.93B | $4.25B | $5.93B | $6.23B | $7.01B | $7.47B | $5.20B | $2.91B | $1.03B |
| Capital expenditures | $2.81B | $2.09B | $1.96B | $1.25B | $1.50B | $1.82B | $2.36B | $2.94B | $2.48B |
| Free cash flow | -$7.74B | $2.16B | $3.97B | $4.97B | $5.51B | $5.65B | $2.84B | -$26.0M | -$1.45B |
| Share buybacks | $0.00 | $0.00 | $500M | $125M | $1.00B | $2.33B | $625M | $494M | $0.00 |
| Dividends paid | $1.06B | $0.00 | $1.55B | $2.07B | $2.07B | $2.01B | $1.97B | $1.97B | $1.49B |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $6.19B | $2.72B | $2.37B | $5.10B | $2.99B | $3.89B | $2.99B | $2.19B | $3.82B |
| Total assets | — | $83.7B | $60.5B | $61.5B | $63.0B | $60.6B | $58.0B | $57.3B | $58.5B |
| Long-term debt | — | $19.6B | $16.4B | $17.0B | $14.5B | $15.1B | — | — | — |
| Shareholders' equity | $31.5B | $32.5B | $13.5B | $12.4B | $18.2B | $20.7B | $18.6B | $17.4B | $16.0B |
| Retained earnings | — | $35.5B | $17.0B | $16.4B | $20.6B | $23.2B | $21.8B | $20.9B | $16.8B |
| Shares (wtd avg diluted) | 745M | 747M | 743M | 742M | 749M | 726M | 709M | 705M | 712M |
Every figure is extracted from DOW INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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