Dow (DOW) FY2024 results: revenue $43.0 billion, down 3.7% on the year
Dow Inc. (DOW) reported revenue of $43.0 billion for fiscal 2024, the year ended 31 December 2024, down 3.7% on the year before. Net income was $1.1 billion, up 89.5%, and diluted earnings per share $1.57. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2025.
Revenue
$43.0 billion
-3.7% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$1.1 billion
+89.5% on the year
FY2017FY2024
Diluted EPS
$1.57
+91.5% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,914
5,196
7,475
-43.9%
Capital expenditure
2,940
2,356
1,823
+24.8%
Free cash flow
-26.0
2,840
5,652
Free cash flow margin
-0.1%
6.4%
9.9%
Cash from investing
-2,368
-2,928
-2,970
Cash from financing
-1,168
-3,115
-3,361
Depreciation and amortisation
2,894
2,611
2,758
+10.8%
Share-based compensation
159
212
211
-25.0%
Buybacks
494
625
2,325
-21.0%
Dividends paid
1,966
1,972
2,006
-0.3%
Dividend per share
$2.80
$2.80
$2.80
0.0%
Diluted shares, weighted
705m
709m
726m
-0.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
17,355
18,607
20,718
-6.7%
Non-controlling interest
496
501
529
-1.0%
Short-term borrowings
n/a
n/a
362
Debt
16,343
15,086
15,060
+8.3%
Operating lease liabilities
984
1,032
997
-4.7%
Other liabilities
22,134
22,741
22,937
-2.7%
Total liabilities and equity
57,312
57,967
60,603
-1.1%
Fixed assets
22,004
21,066
20,442
+4.5%
Goodwill
8,565
8,641
8,644
-0.9%
Intangible assets
1,721
2,072
2,442
-16.9%
Investments
n/a
n/a
939
Securities held for sale or to maturity
2,033
1,860
n/a
+9.3%
Cash and equivalents
2,189
2,987
3,886
-26.7%
Receivables
4,756
4,718
5,611
+0.8%
Inventory
6,544
6,076
6,988
+7.7%
Other assets
9,500
10,547
11,651
-9.9%
Total assets
57,312
57,967
60,603
-1.1%
10-K for the year ended 31 December 2024, filed 4 February 2025: the filing.