Income StatementBalance SheetCash FlowSegments
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Dow Cash Flow Statement

Operating, investing, and financing cash movements

Dow generated $2.1B in operating cash flow over the trailing twelve months. After $2.3B in capital expenditures, free cash flow was -$1.4B. Free cash flow decreased 1.6% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.1BNet Cash From Investing (TTM)-$2.2BNet Cash From Financing (TTM)$2.5BCapital Expenditures (TTM)$2.3BDepreciation And Amortization Cf (TTM)$2.8BNet Change In Cash (TTM)$1.8B
Latest FilingQ1 2026
Report Date2026-04-24
Market Cap$27.8B
ROE-16.67%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from non-marketable securities$150.0M$416.0M$136.0M$159.0M$311.0M$319.0M
Proceeds from Sales of Business Affiliate and Productive Assets$198.0M$3.0M$128.0M$4.0M$4.0M$4.0M
Capital expenditures$767.0M$685.0M$662.0M$564.0M$568.0M$503.0M
Payment for (Proceeds from) Other Investing Activity$12.0M-$2.0M$7.0M-$10.0M-$27.0M-$41.0M
Payments To Acquire Machinery And Equipment$767.0M$685.0M$662.0M$564.0M$568.0M$503.0M
Proceeds from other investments$150.0M$416.0M$136.0M$159.0M$311.0M$319.0M
Divestitures and asset sales$198.0M$3.0M$128.0M$4.0M$4.0M$4.0M
Net cash from investing activities-$912.0M-$401.0M-$561.0M-$495.0M-$669.0M-$448.0M
Proceeds from sale of businesses$198.0M$3.0M$128.0M$4.0M$4.0M$4.0M
Purchases of investments$428.0M$104.0M$101.0M$318.0M$358.0M$331.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)—-$185.0M—-$30.0M-$306.0M$14.0M
Other non-cash income (expense)—-$185.0M—-$30.0M-$306.0M$14.0M
Change in accounts payable—$38.0M-$50.0M-$480.0M-$507.0M$551.0M
Change in inventories—$221.0M———$180.0M
Other working capital changes$557.0M$126.0M$246.0M—$189.0M-$596.0M
Change in receivables—$301.0M$634.0M-$535.0M-$473.0M$531.0M
Deferred income taxes$269.0M-$177.0M—-$48.0M-$162.0M-$48.0M
Depreciation and amortization$751.0M$714.0M$724.0M$688.0M$708.0M$719.0M
Distributions from equity method investments-$127.0M-$133.0M-$87.0M-$92.0M-$127.0M-$502.0M
Gain (loss) on sale of assets$7.0M$2.0M$100.0M$109.0M$9.0M$4.0M
Impairment charges$34.0M$208.0M$591.0M$23.0M$1.0B$27.0M
Other Non-Cash Income (Expense)—-$185.0M—-$30.0M-$306.0M$14.0M
Other Non-cash Income (Expense)—-$185.0M—-$30.0M-$306.0M$14.0M
Other Non-cash Income (Expense)—-$185.0M—-$30.0M-$306.0M$14.0M
Net cash from operating activities$814.0M$91.0M-$470.0M$1.1B$284.0M$1.1B
Net income$32.0M-$290.0M-$801.0M$124.0M-$1.4B-$445.0M
Other non-cash income (expense)—-$185.0M—-$30.0M-$306.0M$14.0M
Net cash provided by operating activities from discontinued operations$3.0M-$13.0M$0.0-$3.0M-$14.0M$0.0
Gain (Loss) on Disposition of Assets$7.0M$2.0M$100.0M$109.0M$9.0M$4.0M
Income Loss From Equity Method Investments Net Of Dividends Or Distributions-$127.0M-$133.0M-$87.0M-$92.0M-$127.0M-$502.0M
Increase (Decrease) in Accounts and Notes Receivable—$301.0M$634.0M-$535.0M-$473.0M$531.0M
Other Noncash Income (Expense)—-$185.0M—-$30.0M-$306.0M$14.0M
Payment for Pension and Other Postretirement Benefits$29.0M$31.0M$45.0M$69.0M$64.0M$41.0M
Restructuring charges, net of cash paid (Note 15)$34.0M$208.0M$591.0M$23.0M$1.0B$27.0M
Other Non-cash Income and Expense—-$185.0M—-$30.0M-$306.0M$14.0M
Pension and postretirement benefit expense-$67.0M-$26.0M-$24.0M-$23.0M-$22.0M-$8.0M
Pension contributions$29.0M$31.0M$45.0M$69.0M$64.0M$41.0M
Restructuring Costs and Asset Impairment Charges$34.0M$208.0M$591.0M$23.0M$1.0B$27.0M
Other Non-Cash Adjustments—-$185.0M—-$30.0M-$306.0M$14.0M
Other Non-Cash Income and Expense—-$185.0M—-$30.0M-$306.0M$14.0M
Asset Impairment and Exit Costs, Net of Cash Paid$34.0M$208.0M$591.0M$23.0M$1.0B$27.0M
Restructuring Charges, Net of Cash Paid$34.0M$208.0M$591.0M$23.0M$1.0B$27.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash from operating activities — discontinued operations$3.0M-$13.0M$0.0-$3.0M-$14.0M$0.0
Effect of exchange rate changes on cash-$181.0M$123.0M$130.0M$6.0M$16.0M-$73.0M
Net increase (decrease) in cash-$724.0M-$708.0M$961.0M$2.2B—$283.0M
Cash flow hedging related to capital expenditures$0.0$0.0———-$3.0M
Investments in and loans to nonconsolidated affiliates$3.0M$3.0M$17.0M$1.0M$11.0M$0.0
Payments to Explore and Develop Oil and Gas Properties$46.0M$30.0M$38.0M$42.0M$47.0M$21.0M
Proceeds from incentives related to capital expenditures$0.0$0.0——$13.0M$40.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$29.0M$11.0M$26.0M$13.0M$14.0M$4.0M
Repayments of debt$43.0M$957.0M$157.0M$93.0M$254.0M$46.0M
Distributions to noncontrolling interests$28.0M$22.0M$34.0M$37.0M$80.0M$59.0M
Dividends paid$492.0M$494.0M$496.0M$249.0M$251.0M$252.0M
Proceeds from new debt$24.0M$1.0B$94.0M$1.5B$126.0M$52.0M
Net borrowings/(repayments) under accounts receivable financing-$37.0M$15.0M——-$6.0M$0.0
Short-term borrowings/(repayments) less than 90 days — net$0.0-$1.0M$49.0M-$12.0M-$41.0M$0.0
Issuances - maturities longer than 90 days$29.0M$11.0M$26.0M$13.0M$14.0M$4.0M
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security$43.0M$957.0M$157.0M$93.0M$254.0M$46.0M
Repayments of Short-Term Debt, Maturing in More than Three Months$11.0M$6.0M$35.0M$5.0M$17.0M$4.0M
Net cash from financing activities-$445.0M-$521.0M$1.9B$1.6B—-$320.0M
Payment of debt issuance costs$1.0M$64.0M$21.0M$45.0M$7.0M$1.0M
Proceeds from Short-Term Debt (Maturity > 3 Months)$29.0M$11.0M$26.0M$13.0M$14.0M$4.0M
Repayments of Short-Term Debt (Maturity > 3 Months)$11.0M$6.0M$35.0M$5.0M$17.0M$4.0M
Proceeds from Short-Term Debt (Maturity > 3 Months)$29.0M$11.0M$26.0M$13.0M$14.0M$4.0M
Repayments of Short-Term Debt (Maturity > 3 Months)$11.0M$6.0M$35.0M$5.0M$17.0M$4.0M
Proceeds from Short-Term Debt (> 90 Days)$29.0M$11.0M$26.0M$13.0M$14.0M$4.0M
Repayments of Short-Term Debt (> 90 Days)$11.0M$6.0M$35.0M$5.0M$17.0M$4.0M
Net change in short-term borrowings$0.0-$1.0M$49.0M-$12.0M-$41.0M$0.0
Taxes paid for net share settlement$1.0M$16.0M——$2.0M$14.0M
Payments of consent fees related to long-term debt$1.0M$64.0M$21.0M$45.0M$7.0M$1.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow—-$594.0M-$1.1B—-$284.0M$621.0M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Pension And Other Postretirement Benefit Expense-$67.0M-$26.0M-$24.0M-$23.0M-$22.0M-$8.0M