Dow Inc.

DOW

Financial Statements

Income Statement (Annual)

Amounts in millions

2024

12/31/2024

Revenue

42,964

Cost of Revenue

38,509

Gross Profit

4,455

Gross Margin

10.4%

Operating Income

2,064

Operating Margin

4.8%

Net Income

1,116

Net Margin

2.6%

EPS (Basic)

$1.57

EPS (Diluted)

$1.57

EBITDA

5,252

EBITDA Margin

12.2%

2023

12/31/2023

Revenue

44,622

Cost of Revenue

39,650

Gross Profit

4,972

Gross Margin

11.1%

Operating Income

2,516

Operating Margin

5.6%

Net Income

589

Net Margin

1.3%

EPS (Basic)

$0.82

EPS (Diluted)

$0.82

EBITDA

4,003

EBITDA Margin

9.0%

2022

12/31/2022

Revenue

56,902

Cost of Revenue

49,045

Gross Profit

7,857

Gross Margin

13.8%

Operating Income

5,331

Operating Margin

9.4%

Net Income

4,582

Net Margin

8.1%

EPS (Basic)

$6.32

EPS (Diluted)

$6.28

EBITDA

9,499

EBITDA Margin

16.7%

2021

12/31/2021

Revenue

54,968

Cost of Revenue

44,580

Gross Profit

10,388

Gross Margin

18.9%

Operating Income

7,886

Operating Margin

14.3%

Net Income

6,311

Net Margin

11.5%

EPS (Basic)

$8.44

EPS (Diluted)

$8.38

EBITDA

11,676

EBITDA Margin

21.2%

2020

12/31/2020

Revenue

38,542

Cost of Revenue

33,730

Gross Profit

4,812

Gross Margin

12.5%

Operating Income

2,573

Operating Margin

6.7%

Net Income

1,225

Net Margin

3.2%

EPS (Basic)

$1.64

EPS (Diluted)

$1.64

EBITDA

5,538

EBITDA Margin

14.4%

Income Statement (Annual)

Financial performance (amounts in millions)

Item	2024	2023	2022	2021	2020
Revenue	42,964	44,622	56,902	54,968	38,542
Cost of Revenue	38,509	39,650	49,045	44,580	33,730
Gross Profit	4,455	4,972	7,857	10,388	4,812
Gross Margin	10.4%	11.1%	13.8%	18.9%	12.5%
Operating Income	2,064	2,516	5,331	7,886	2,573
Operating Margin	4.8%	5.6%	9.4%	14.3%	6.7%
Net Income	1,116	589	4,582	6,311	1,225
Net Margin	2.6%	1.3%	8.1%	11.5%	3.2%
EPS (Basic)	$1.57	$0.82	$6.32	$8.44	$1.64
EPS (Diluted)	$1.57	$0.82	$6.28	$8.38	$1.64
EBITDA	5,252	4,003	9,499	11,676	5,538
EBITDA Margin	12.2%	9.0%	16.7%	21.2%	14.4%