Dow Inc. (DOW) FY2025 10-K Annual Report
Dow Inc. (DOW) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 3, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Dow Inc. FY2025 10-K Analysis
Business Overview
- • Core business model details omitted per Form 10-K General Instruction I, no direct product or service disclosure
- • Reliance on 2026 Proxy Statement for executive compensation, stock ownership, related transactions, and auditor fees
- • No new products, services, segments, or strategic shifts disclosed in Business section this year
- • Filing integrates 2025 consolidated financial statements and auditor report from Deloitte & Touche LLP
- • Unusual filing format: business info replaced by references to Proxy Statement due to regulatory instruction
Management Discussion & Analysis
- • Environmental remediation liability $1,011M at Dec 31, 2025, down from $1,113M at Dec 31, 2024
- • Remediation costs charged to income $63M in 2025 vs $197M in 2024; environmental operating costs $819M in 2025 vs $823M in 2024
- • Environmental capex $226M in 2025, up from $208M in 2024
- • Midland and Wood-Ridge site liabilities $277M in 2025, with $40M spent on remediation vs $303M and $45M in 2024
- • Potential remediation cost range up to 2x accrued liability; material impact risk considered remote by management
Risk Factors
- • Legal risk from Alberta Court judgment ordering Nova Chemicals to pay $1.2B for damages through June 2018
- • Macroeconomic exposure from 7% net sales decline in 2025 due to local price decreases across all segments and regions
- • Supply chain vulnerability in Latin America with $303M impairment on chlor-alkali, propylene oxide, and brine production assets
- • Competitive threat from joint venture margin compression causing equity losses of $240M in 2025, up from $6M in 2024
- • Financial risk from negative net income $2.6B in 2025 vs positive $1.1B in 2024 and dividend cut by 50% in Q3 2025
Dow Inc. FY2025 Key Financial MetricsXBRL
Revenue
$40.0B
▼ -7.0% YoY
Net Income
-$2.6B
▼ -335.0% YoY
Net Margin
-6.6%
▼ -916bp YoY
ROE
-16.4%
▼ -2282bp YoY
Total Assets
$58.5B
▲ +2.1% YoY
EPS (Diluted)
$-3.70
▼ -335.7% YoY
Operating Cash Flow
$1.0B
▼ -64.6% YoY
Source: XBRL data from Dow Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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