Dow Inc. cash flow statement DOW

Annual Quarterly

In the fiscal 2026 year to date through Sep 30, 2026, Dow Inc. generated $4.3 billion of cash from operations, up 280.9% from the same quarter a year earlier. The company returned $758.0 million in dividends to shareholders.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the same quarter a year earlier.

Line	TTM Sep 30, 2026	Q3 FY2026 YTD Sep 30, 2026	Q1 FY2026 Mar 31, 2026	Q4 FY2025 Dec 31, 2025	Q3 FY2025 Sep 30, 2025	Q2 FY2025 Jun 30, 2025	Q1 FY2025 Mar 31, 2025	Q4 FY2024 Dec 31, 2024	Q3 FY2024 Sep 30, 2024
Operating
Depreciation and amortization	2,757 -4.2%	666 -3.2%	719 +0.7%	708 -5.7%	688 -7.2%	724 +6.2%	714 -0.8%	751 +14.3%	741 +12.8%
Operating cash flow	4,577 +193.0%	4,293 +280.9%	1,124 +1135.2%	284 -65.1%	1,127 +40.9%	-470 -156.2%	91 -80.4%	814 -50.8%	800 -51.7%
Investing
Capital expenditures	—	—	503 -26.6%	568	564	662	685	—	—
Investing cash flow	-2,961 -25.0%	-2,292 -363.0%	-448 -11.7%	-669 +26.6%	-495 +28.4%	-561 -13.6%	-401 -48.0%	-912 +15.7%	-691 +31.7%
Financing
Debt repaid	292 +122.9%	83	—	209 +3383.3%	0 -100.0%	125 +1983.3%	—	6	8
Dividends paid	1,009 -41.7%	758 +204.4%	252 -49.0%	251 -49.0%	249 -49.2%	496 +1.0%	494 +0.2%	492 +0.2%	490 -0.4%
Stock buybacks	—	—	—	0	0 -100.0%	0 -100.0%	0 -100.0%	0 -100.0%	94 -24.8%
Financing cash flow	-2,038 -181.7%	-1,605 -200.3%	-320 +38.6%	-433 +2.7%	1,600 +369.4%	1,862 +367.9%	-521 -192.0%	-445 +37.4%	-594 -19.5%
Change in cash
Effect of exchange rate	-60 -176.9%	-76 -1366.7%	-73 -159.3%	16 +108.8%	6 -93.1%	130 +966.7%	123 +327.8%	-181 -312.9%	87 +371.9%
Net change in cash	-482 -127.3%	320 -85.7%	283 +140.0%	-802 -10.8%	2,238 +662.3%	961 +361.1%	-708 -200.4%	-724 -1292.3%	-398 -440.2%
Free cash flow	—	—	621 +204.5%	-284	563	-1,132	-594	—	—
Per share
Free cash flow per share	—	—	0.86 +202.5%	-0.40	0.79	-1.60	-0.84	—	—
Dividend per share	1.40 -42.9%	0.35 +0.0%	0.35 -50.0%	0.35 -50.0%	0.35 -50.0%	0.70 +0.0%	0.70 +0.0%	0.70 +0.0%	0.70 +0.0%
Shareholder returns
Returned to shareholders	1,009	758	252	251	249	496	494	492	584
Share of free cash flow	—	—	40.58%	—	44.23%	—	—	—	—
Ratios
Free cash flow margin	—	—	6.34%	-3.00%	5.65%	-11.20%	-5.69%	—	—
Capital expenditures to revenue	—	—	5.14%	6.00%	5.66%	6.55%	6.57%	—	—
Cash conversion	—	9.37x	—	—	18.18x	—	—	—	3.74x

How these figures are calculated

Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. The first column is the trailing twelve months through the latest quarter. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry: Plastic Materials, Synth Resins & Nonvulcan Elastomers (SIC 2821)
Listed as: DOW (NYSE)
Fiscal year ends: December 31
Incorporated in: DE
Headquarters: Midland, MI
SEC filer status: Large accelerated filer
SEC CIK: 1751788
Former names: Dow Holdings Inc. (until Feb 12, 2019)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.