DOW INC.

10-K & 10-Q Filings

Dow Inc. is a leading materials science company based in Midland, Michigan. It was incorporated in 2018 as a holding company for The Dow Chemical Company and its consolidated subsidiaries. Dow operates through six global businesses: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings. The company serves customers in high-growth markets such as packaging, infrastructure, mobility, and consumer applications. The Packaging & Specialty Plastics segment consists of Hydrocarbons & Energy and Packaging and Specialty Plastics businesses. Hydrocarbons & Energy produces ethylene, a key chemical building block, and energy for Dow's global operations. Packaging and Specialty Plastics serves growing markets using world-class technology, broad product lines, and a rich product pipeline. The Industrial Intermediates & Infrastructure segment includes Industrial Solutions and Polyurethanes & Construction Chemicals businesses. Industrial Solutions provides a broad portfolio of solutions for various industries, including coatings, detergents, agriculture, electronics, and infrastructure. Polyurethanes & Construction Chemicals produces propylene oxide, propylene glycol, polyether polyols, and other products for various applications, including automotive, construction, and textiles. Dow's website is www.dow.com, and its stock is traded on the New York Stock Exchange under the ticker symbol DOW. The company's strategy includes becoming the most sustainable materials science company by lowering energy and greenhouse gas emissions and integrating recycled content and renewable feedstocks into its production processes. Dow has announced several investments to enhance competitiveness and reduce emissions, including the construction of a net-zero emissions integrated ethylene and derivatives complex in Alberta, Canada, and the development of advanced recycling facilities in Europe and the UK.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$59985.00
56786.00
57080.00
58167.00
48778.00
48158.00
55508.00
60278.00
42951.00
38542.00
54968.00
56902.00
44622.00
11851.00
10765.00
-2.44%-9.16%Cost of Revenue (-)
$51029.00
47792.00
47594.00
47464.00
37836.00
37641.00
44308.00
47705.00
36657.00
33346.00
44191.00
48338.00
39742.00
10629.00
9488.00
-2.06%-10.73%Gross Profit (+)
$8956.00
8994.00
9486.00
10703.00
10942.00
10517.00
11200.00
12573.00
6294.00
5196.00
10777.00
8564.00
4880.00
1222.00
1277.00
-4.93%4.50%Selling, General & Administrative (-)
$2788.00
2861.00
3024.00
3106.00
2971.00
3304.00
2917.00
2846.00
1590.00
1471.00
1645.00
1675.00
1627.00
428.00
442.00
-4.39%3.27%Research & Development (-)
$1646.00
1708.00
1747.00
1647.00
1598.00
1584.00
1637.00
1536.00
765.00
768.00
857.00
851.00
829.00
214.00
204.00
-5.56%-4.67%Depreciation & Amortization (-)
$496.00
478.00
461.00
436.00
419.00
544.00
624.00
622.00
419.00
401.00
388.00
336.00
324.00
81.00
81.00
-3.49%0.00%Non-recurring Operating Expenses (-)
$
1563.00
-22.00
47.00
415.00
452.00
3100.00
620.00
3219.00
708.00
6.00
118.00
528.00
541.00
45.00
-91.68%Operating Expenses (-)
$5246.00
6637.00
2656.00
5263.00
811.00
4682.00
8278.00
5624.00
5993.00
3348.00
2896.00
2980.00
3308.00
1264.00
772.00
-3.77%-38.92%Costs & Expenses (Total) (-)
$56275.00
54429.00
50250.00
52727.00
38647.00
42323.00
52586.00
53329.00
42650.00
36694.00
47087.00
51318.00
43050.00
11893.00
10260.00
-2.21%-13.73%Operating Income/Loss (+)
$3710.00
2357.00
6830.00
5440.00
10131.00
5835.00
2922.00
6949.00
301.00
1848.00
7881.00
5584.00
1572.00
-42.00
505.00
-6.91%1302.38%Non-operating Income/Expense (+)
$1263.00
577.00
1075.00
886.00
745.00
549.00
1639.00
1131.00
367.00
1251.00
940.00
995.00
-399.00
31.00
78.00
151.61%Interest Expense (-)
$1341.00
1269.00
1101.00
983.00
946.00
858.00
976.00
1118.00
933.00
827.00
731.00
662.00
746.00
185.00
199.00
-4.77%7.57%Earnings before Tax (+)
$3601.00
1665.00
6804.00
5265.00
9930.00
4413.00
2799.00
5918.00
-1247.00
2071.00
8145.00
6090.00
656.00
-120.00
449.00
-13.23%474.17%Tax Expense (-)
$817.00
565.00
1988.00
1426.00
2147.00
9.00
2204.00
1285.00
470.00
777.00
1740.00
1450.00
-4.00
-47.00
-89.00
-89.36%Income/Loss (Continuing Operations) (+)
$2784.00
1100.00
4816.00
3839.00
7783.00
4404.00
595.00
4633.00
-1717.00
1294.00
6405.00
4640.00
660.00
-73.00
538.00
-11.30%836.99%Income/Loss (Discontinued Operations) (+)
$
445.00
Profit/Loss (+)
$2784.00
1100.00
4816.00
3839.00
7783.00
4404.00
595.00
4633.00
-1272.00
1294.00
6405.00
4640.00
660.00
-73.00
538.00
-11.30%836.99%Net Income/Loss (NCI) (-)
$42.00
-82.00
29.00
67.00
98.00
86.00
129.00
134.00
87.00
69.00
94.00
58.00
71.00
20.00
22.00
4.47%10.00%Net Income/Loss (+)
$2742.00
1182.00
4787.00
3772.00
7685.00
4318.00
466.00
4499.00
-1359.00
1225.00
6311.00
4582.00
589.00
-93.00
516.00
-12.03%654.84%Preferred & Other Distributions (-)
$340.00
340.00
340.00
340.00
340.00
340.00
Net Income/Loss (Common) (+)
$2402.00
842.00
4447.00
3432.00
7345.00
3978.00
466.00
4499.00
-1359.00
1225.00
6311.00
4582.00
589.00
-93.00
516.00
-11.05%654.84%EPS (Basic)
$2.06
0.71
3.72
2.91
6.45
3.57
-1.84
1.64
8.44
6.32
0.82
-0.13
0.73
-7.39%661.54%EPS (Diluted)
$2.05
0.70
3.68
2.87
6.15
3.52
-1.84
1.64
8.38
6.28
0.82
-0.13
0.73
-7.35%661.54%Weighted Avg Shares (Basic)
1149.00
1169.70
1186.20
1170.90
1130.10
1108.10
0.00
0.00
742.50
740.50
743.60
721.00
705.70
708.20
704.50
-3.98%-0.52%Weighted Avg Shares (Diluted)
1158.20
1176.40
1290.40
1187.00
1241.40
1123.20
742.50
742.30
749.00
725.60
709.00
708.20
705.50
-4.01%-0.38%Cash
$5444.00
4318.00
5940.00
5654.00
8577.00
6607.00
6188.00
2669.00
2367.00
5104.00
2988.00
3886.00
2987.00
3319.00
3723.00
-4.88%12.17%Short-term Investments
$2.00
4.00
100.00
21.00
Receivables
$9626.00
9679.00
9647.00
4687.00
7846.00
9024.00
12049.00
12382.00
7555.00
4839.00
6841.00
5611.00
4718.00
5740.00
5212.00
-5.77%-9.20%Inventory
$7577.00
8476.00
8303.00
8101.00
6871.00
7363.00
8376.00
9260.00
6214.00
5701.00
7372.00
6988.00
6076.00
6825.00
6373.00
-1.82%-6.62%Other Assets (Current)
$773.00
1211.00
1087.00
5825.00
1181.00
665.00
627.00
852.00
658.00
3440.00
3647.00
3992.00
3833.00
3472.00
3140.00
14.27%-9.56%Assets (Current)
$23422.00
23684.00
24977.00
24267.00
24475.00
23659.00
27244.00
25263.00
16815.00
19084.00
20848.00
20477.00
17614.00
19356.00
18448.00
-2.35%-4.69%Securities & Long-term Investments
$5913.00
6686.00
7042.00
6640.00
6881.00
6716.00
6252.00
6471.00
3992.00
4102.00
5238.00
4382.00
4007.00
4323.00
4071.00
-3.19%-5.83%Property, Plant & Equipment (Net)
$17299.00
17520.00
17454.00
18051.00
17854.00
23486.00
23812.00
23662.00
44064.00
20239.00
20555.00
20442.00
21066.00
20323.00
21261.00
1.66%4.62%Accumulated Depreciation
$34917.00
36846.00
37660.00
37179.00
32948.00
33952.00
36614.00
37775.00
33914.00
36086.00
37049.00
37613.00
39137.00
38356.00
39401.00
0.96%2.72%Goodwill & Intangibles
$17991.00
17450.00
17112.00
16400.00
15771.00
21298.00
19487.00
18761.00
12555.00
12260.00
11645.00
11086.00
10713.00
10989.00
10557.00
-4.23%-3.93%Other Assets
$4599.00
4265.00
2916.00
3438.00
3045.00
4352.00
3145.00
3221.00
87331.00
3929.00
3292.00
2989.00
3247.00
3068.00
3116.00
-2.86%1.56%Assets (Non-current)
$45802.00
45921.00
44524.00
44529.00
43551.00
55852.00
52696.00
52115.00
43709.00
42386.00
42142.00
40126.00
40353.00
39960.00
40369.00
-1.05%1.02%Assets (Total)
$69224.00
69605.00
69501.00
68796.00
68026.00
79511.00
79940.00
77378.00
60524.00
61470.00
62990.00
60603.00
57967.00
59316.00
58817.00
-1.47%-0.84%Accounts Payable
$5536.00
5347.00
5492.00
5405.00
4621.00
8028.00
10079.00
9780.00
7173.00
7950.00
9681.00
8044.00
7652.00
7675.00
7905.00
2.73%3.00%Debt (Current)
$3290.00
1068.00
1140.00
945.00
454.00
272.00
484.00
645.00
1442.00
616.00
392.00
362.00
179.00
525.00
173.00
-21.54%-67.05%Other Liabilities (Current)
$4808.00
5078.00
5339.00
5243.00
6140.00
4304.00
3814.00
3330.00
2064.00
2542.00
3153.00
2925.00
2126.00
2289.00
2171.00
-6.57%-5.16%Liabilities (Current)
$13634.00
11493.00
11971.00
11593.00
11215.00
12604.00
14377.00
13755.00
10679.00
11108.00
13226.00
11331.00
9957.00
10489.00
10249.00
-2.59%-2.29%Debt (Non-current)
$18310.00
19919.00
16820.00
18838.00
19254.00
17714.00
16491.00
14280.00
14698.00
14907.00
14739.00
16170.00
-1.70%9.71%Other Liabilities
$13842.00
16179.00
12630.00
14809.00
30628.00
39678.00
38554.00
16400.00
18037.00
20866.00
16745.00
13327.00
13995.00
13373.00
13481.00
0.09%0.81%Liabilities (Non-current)
$32152.00
36098.00
29450.00
33647.00
30628.00
39678.00
38554.00
35654.00
35751.00
37357.00
31025.00
28025.00
28902.00
28112.00
29651.00
-0.88%5.47%Liabilities (Total)
$45786.00
47591.00
41421.00
45240.00
41843.00
52282.00
52931.00
49409.00
46430.00
48465.00
44251.00
39356.00
38859.00
38601.00
39900.00
-1.36%3.37%Treasury Stock
$
307.00
4233.00
6155.00
1659.00
500.00
625.00
1625.00
3871.00
4374.00
3953.00
4507.00
14.01%Retained Earnings
$19087.00
18495.00
21407.00
23045.00
28425.00
30338.00
28050.00
29808.00
17045.00
16361.00
20623.00
23180.00
21774.00
22584.00
21796.00
1.10%-3.49%AOCI
$-5996.00
-7516.00
-4827.00
-8017.00
-8667.00
-9822.00
-8591.00
-9885.00
-10246.00
-10855.00
-8977.00
-7139.00
-7681.00
-7065.00
-7814.00
-10.60%Shareholder's Equity
$23291.00
21867.00
27924.00
23354.00
26183.00
27229.00
27009.00
27969.00
14094.00
13005.00
18739.00
21247.00
19108.00
20715.00
18917.00
-1.64%-8.68%Liabilities & Equity
$69224.00
69605.00
69501.00
68796.00
68026.00
79511.00
79940.00
77378.00
60524.00
61470.00
62990.00
60603.00
57967.00
59316.00
58817.00
-1.47%-0.84%Net Income/Loss
$2784.00
1100.00
4816.00
3839.00
7783.00
4404.00
595.00
4633.00
-73.00
538.00
836.99%Depreciation & Amortization
$2883.00
2698.00
2681.00
2747.00
2521.00
2862.00
3155.00
3329.00
2938.00
2874.00
2842.00
2758.00
2611.00
648.00
720.00
-0.82%11.11%Increase/Decrease in Working Capital
$1964.00
323.00
-1412.00
-162.00
-1845.00
-719.00
2059.00
3246.00
-387.00
-1192.00
1447.00
786.00
-1068.00
503.00
924.00
83.70%Share-based Compensation
$-806.00
-903.00
-865.00
-815.00
-844.00
-629.00
Adjustments to Reconcile Net Income
$1095.00
2975.00
2970.00
2663.00
-267.00
1041.00
3907.00
-739.00
7430.00
4958.00
664.00
3058.00
4098.00
608.00
-74.00
11.63%-112.17%Net Cash (Operating)
$3879.00
4075.00
7823.00
6502.00
7516.00
5478.00
4502.00
3894.00
5930.00
6226.00
7009.00
7475.00
5196.00
535.00
464.00
2.47%-13.27%Capital Expenditure
$2576.00
2616.00
2236.00
3624.00
2519.00
3234.00
3372.00
2694.00
2046.00
1392.00
2416.00
2237.00
2629.00
520.00
766.00
0.17%47.31%Net Cash (Investing)
$-1994.00
-2687.00
-1469.00
-3105.00
-1350.00
-3479.00
-1941.00
-2128.00
-2192.00
-841.00
-2914.00
-2970.00
-2928.00
-150.00
-271.00
-80.67%Increase/Decrease in Debt
$-1713.00
-641.00
-3313.00
1701.00
269.00
-556.00
-328.00
-1234.00
-2967.00
-412.00
-2696.00
900.00
-573.00
-234.00
1279.00
646.58%Increase/Decrease in Equity
$288.00
273.00
72.00
-3265.00
-658.00
-518.00
489.00
112.00
-526.00
-192.00
-1217.00
-2137.00
-439.00
-70.00
-169.00
-141.43%Interest Expenses
$
1178.00
1198.00
Dividends Paid
$1300.00
2122.00
1534.00
2111.00
2365.00
2638.00
3364.00
3883.00
2162.00
2133.00
2146.00
2089.00
2061.00
509.00
507.00
3.91%-0.39%Net Cash (Financing)
$-3362.00
-2530.00
-4731.00
-3583.00
-3041.00
-3892.00
-3300.00
-5164.00
-4095.00
-2764.00
-6071.00
-3361.00
-3115.00
-854.00
566.00
166.28%Cash Taxes Paid
$
1805.00
1419.00
Effect of Exchange Rate
$-121.00
16.00
-1.00
-100.00
-202.00
-77.00
320.00
-100.00
-27.00
107.00
-99.00
-237.00
-45.00
-41.00
-54.00
-31.71%Increase/Decrease in Cash
$-1595.00
-1126.00
1622.00
-286.00
2923.00
-1970.00
-419.00
-3498.00
-384.00
2728.00
-2075.00
907.00
-892.00
-510.00
705.00
238.24%Cash (Beginning)
$7039.00
5444.00
4318.00
5940.00
5654.00
8577.00
6607.00
6207.00
2764.00
2380.00
5108.00
3033.00
3940.00
3940.00
3048.00
-4.72%-22.64%Cash (Ending)
$5444.00
4318.00
5940.00
5654.00
8577.00
6607.00
6188.00
2709.00
2380.00
5108.00
3033.00
3940.00
3048.00
3430.00
3753.00
-4.72%9.42%NOPAT
$2868.27
1557.18
4834.40
3966.60
7940.54
5823.10
1037.68
5282.79
187.55
1154.67
6197.40
4254.48
1562.41
-58.45
605.10
-4.94%1135.24%Gross Margin %
14.93%
15.84%
16.62%
18.40%
22.43%
21.84%
20.18%
20.86%
14.65%
13.48%
19.61%
15.05%
10.94%
10.31%
11.86%
Operating Margin %
6.18%
4.15%
11.97%
9.35%
20.77%
12.12%
5.26%
11.53%
0.70%
4.79%
14.34%
9.81%
3.52%
-0.35%
4.69%
NOPAT Margin %
4.78%
2.74%
8.47%
6.82%
16.28%
12.09%
1.87%
8.76%
0.44%
3.00%
11.27%
7.48%
3.50%
-0.49%
5.62%
Net Margin %
4.57%
2.08%
8.39%
6.48%
15.76%
8.97%
0.84%
7.46%
-3.16%
3.18%
11.48%
8.05%
1.32%
-0.78%
4.79%
Tax Rate %
22.69%
33.93%
29.22%
27.08%
21.62%
0.20%
64.49%
23.98%
37.69%
37.52%
21.36%
23.81%
0.61%
-39.17%
-19.82%
ROA
4.14%
2.24%
6.96%
5.77%
11.67%
7.32%
1.30%
6.83%
0.31%
1.88%
9.84%
7.02%
2.70%
-0.10%
1.03%
ROE
12.31%
7.12%
17.31%
16.98%
30.33%
21.39%
3.84%
18.89%
1.33%
8.88%
33.07%
20.02%
8.18%
-0.28%
3.20%
ROIC
5.74%
3.14%
9.66%
8.84%
17.44%
10.43%
1.81%
9.55%
0.29%
3.07%
16.25%
11.05%
4.24%
-0.16%
1.71%
Asset Turnover
0.87
0.82
0.82
0.85
0.72
0.61
0.69
0.78
0.71
0.63
0.87
0.94
0.77
0.20
0.18
Inventory Turnover
6.73
5.64
5.73
5.86
5.51
5.11
5.29
5.15
5.90
5.85
5.99
6.92
6.54
1.56
1.49
Equity Multiplier
2.97
3.18
2.49
2.95
2.60
2.92
2.96
2.77
4.29
4.73
3.36
2.85
3.03
2.86
3.11
Current Ratio
1.72
2.06
2.09
2.09
2.18
1.88
1.89
1.84
1.57
1.72
1.58
1.81
1.77
1.85
1.80
Quick Ratio
1.11
1.22
1.30
0.89
1.46
1.24
1.27
1.10
0.93
0.90
0.74
0.84
0.77
0.86
0.87
Debt/Equity Ratio
0.93
0.96
0.64
0.85
0.02
0.01
0.02
0.71
1.36
1.32
0.78
0.71
0.79
0.74
0.86
Interest Coverage Ratio
2.48
5.80
Working Capital/Sales
0.25
0.26
0.27
0.18
0.24
0.23
0.25
0.21
0.18
0.13
0.11
0.12
0.11
0.42
0.34
R&D/Sales
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.02
0.02
0.02
0.01
0.02
0.02
0.02
Dividend Payout Ratio %
45.32%
136.27%
31.73%
53.22%
29.78%
45.30%
324.18%
73.50%
1152.75%
184.73%
34.63%
49.10%
131.91%
870.83%
83.79%
Total Payout
$2725.00
2490.00
4775.00
3675.00
2754.00
3712.00
4381.00
6203.00
5655.00
2737.00
6059.00
3326.00
3073.00
813.00
-603.00
1.01%-174.17%Payout Ratio %
95.01%
159.90%
98.77%
92.65%
34.68%
63.75%
422.19%
117.42%
3015.17%
237.04%
97.77%
78.18%
196.68%
1390.93%
-99.65%