Dow Inc. (DOW) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 19.47B | 18.06B | 19.65B | 17.71B | 16.33B | 16.59B | 17.98B | 18.05B | 18.45B | 17.61B | 18.3B | 18.55B | 19.36B | 20.48B | 19.78B | 21.77B | 22.16B | 20.85B | 20.39B | 20.35B |
| Cash & Short-Term Investments | 4.11B | 3.82B | 4.61B | 2.82B | 1.47B | 2.19B | 2.88B | 3.34B | 3.72B | 2.99B | 3.08B | 2.92B | 3.32B | 3.89B | 2.22B | 2.37B | 3.14B | 2.99B | 2.91B | 3.49B |
| Cash Only | 4.11B | 3.82B | 4.61B | 2.52B | 1.47B | 2.19B | 2.88B | 3.34B | 3.72B | 2.99B | 3.08B | 2.92B | 3.32B | 3.89B | 2.22B | 2.37B | 3.14B | 2.99B | 2.91B | 3.49B |
| Short-Term Investments | 0 | 0 | 0 | 307M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 7.41B | 6.64B | 7.16B | 7.65B | 7.18B | 6.86B | 7.32B | 7.08B | 7.07B | 6.61B | 7.38B | 7.66B | 7.81B | 7.75B | 8.53B | 9.72B | 9.96B | 9.55B | 9.41B | 9.11B |
| Days Sales Outstanding | 64.54 | 67.1 | 68.33 | 66.82 | 60.6 | 62.69 | 60.87 | 58.98 | 57.83 | 60.62 | 64.48 | 61.64 | 59.11 | 63.17 | 59.47 | 57.15 | 57.53 | 60.73 | 57.4 | 56.92 |
| Inventory | 6.78B | 6.59B | 6.67B | 6.7B | 6.76B | 6.54B | 6.74B | 6.46B | 6.37B | 6.08B | 6.21B | 6.49B | 6.83B | 6.99B | 7.57B | 8.22B | 7.76B | 7.37B | 7.11B | 6.95B |
| Days Inventory Outstanding | 65.73 | 68.49 | 66.27 | 64.09 | 61.57 | 64.14 | 61.31 | 60.36 | 60.16 | 58.6 | 60.76 | 61.08 | 58.66 | 61.79 | 57.87 | 55.52 | 54.78 | 56 | 55.21 | 55.08 |
| Other Current Assets | 1.18B | 1.01B | 1.2B | 534M | 914M | 993M | 1.04B | 1.17B | 1.28B | 1.94B | 1.63B | 1.48B | 1.4B | 1.85B | 1.46B | 1.46B | 1.3B | 934M | 962M | 803M |
| Total Non-Current Assets | 40.31B | 40.48B | 41.34B | 41.28B | 41.17B | 40.72B | 41.41B | 40.47B | 40.37B | 40.35B | 39.99B | 39.74B | 39.96B | 40.13B | 39.78B | 40.37B | 41.17B | 42.14B | 41.36B | 41.42B |
| Property, Plant & Equipment | 22.11B | 23.61B | 23.85B | 23.72B | 23.65B | 23.27B | 23.39B | 22.91B | 22.63B | 22.39B | 21.85B | 21.7B | 21.58B | 21.67B | 21.26B | 21.43B | 21.69B | 21.97B | 21.38B | 21.61B |
| Fixed Asset Turnover | 0.43x | 0.40x | 0.42x | 0.43x | 0.44x | 0.45x | 0.47x | 0.48x | 0.48x | 0.48x | 0.49x | 0.53x | 0.55x | 0.55x | 0.66x | 0.73x | 0.70x | 0.66x | 0.69x | 0.64x |
| Goodwill | 7.95B | 7.98B | 8.69B | 8.7B | 8.62B | 8.56B | 8.68B | 8.56B | 8.59B | 8.64B | 8.58B | 8.62B | 8.65B | 8.64B | 8.52B | 8.61B | 8.72B | 8.76B | 8.8B | 8.83B |
| Intangible Assets | 1.43B | 1.49B | 1.55B | 1.61B | 1.65B | 1.72B | 1.84B | 1.88B | 1.97B | 2.07B | 2.13B | 2.23B | 2.34B | 2.44B | 2.48B | 2.62B | 2.76B | 2.88B | 2.96B | 3.09B |
| Long-Term Investments | 4.59B | 3.02B | 4.49B | 4.5B | 4.09B | 4.3B | 4.16B | 4.08B | 4.07B | 4.01B | 4.19B | 4.16B | 4.32B | 4.38B | 4.52B | 4.64B | 4.89B | 5.24B | 4.96B | 4.52B |
| Other Non-Current Assets | 2.71B | 2.88B | 1.34B | 1.33B | 1.7B | 1.61B | 1.81B | 1.7B | 1.71B | 1.76B | 1.99B | 1.97B | 2.07B | 2.03B | 1.86B | 1.96B | 1.96B | 1.93B | 1.9B | 1.83B |
| Total Assets | 59.78B | 58.54B | 60.99B | 58.99B | 57.5B | 57.31B | 59.39B | 58.53B | 58.82B | 57.97B | 58.29B | 58.29B | 59.32B | 60.6B | 59.56B | 62.14B | 63.34B | 62.99B | 61.75B | 61.77B |
| Asset Turnover | 0.17x | 0.16x | 0.17x | 0.17x | 0.18x | 0.18x | 0.18x | 0.19x | 0.18x | 0.18x | 0.18x | 0.19x | 0.20x | 0.20x | 0.23x | 0.25x | 0.24x | 0.23x | 0.24x | 0.23x |
| Asset Growth % | 3.97% | 2.14% | 2.7% | 0.79% | -2.24% | -1.13% | 1.89% | 0.4% | -0.84% | -4.35% | -2.13% | -6.19% | -6.35% | -3.79% | -3.55% | 0.61% | 4.8% | 2.47% | 3.01% | 4.2% |
| Total Current Liabilities | 10.54B | 9.18B | 10.1B | 10.49B | 10.59B | 10.29B | 10.83B | 10.31B | 10.25B | 9.96B | 10.25B | 9.65B | 10.49B | 11.33B | 12.31B | 13.31B | 13.05B | 13.23B | 12.79B | 12.31B |
| Accounts Payable | 4.77B | 4.15B | 4.54B | 4.94B | 4.92B | 4.85B | 5.09B | 4.98B | 4.94B | 4.53B | 4.29B | 4.29B | 4.58B | 4.94B | 5.01B | 5.69B | 5.77B | 5.58B | 4.6B | 4.66B |
| Days Payables Outstanding | 43.85 | 44.83 | 46.97 | 46.97 | 45.21 | 47.99 | 46.78 | 46.66 | 45.76 | 42.07 | 41.05 | 40.66 | 40.41 | 42.22 | 39.2 | 39.81 | 41.07 | 39.36 | 36.37 | 37.24 |
| Short-Term Debt | 881M | 312M | 546M | 550M | 638M | 632M | 407M | 352M | 173M | 179M | 333M | 209M | 525M | 724M | 549M | 656M | 447M | 392M | 561M | 648M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 344M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 1.85x | 1.97x | 1.94x | 1.69x | 1.54x | 1.61x | 1.66x | 1.75x | 1.80x | 1.77x | 1.79x | 1.92x | 1.85x | 1.81x | 1.61x | 1.64x | 1.70x | 1.58x | 1.59x | 1.65x |
| Quick Ratio | 1.20x | 1.25x | 1.28x | 1.05x | 0.90x | 0.98x | 1.04x | 1.12x | 1.18x | 1.16x | 1.18x | 1.25x | 1.19x | 1.19x | 0.99x | 1.02x | 1.10x | 1.02x | 1.04x | 1.09x |
| Cash Conversion Cycle | 86.42 | 90.76 | 87.64 | 83.94 | 76.97 | 78.84 | 75.4 | 72.68 | 72.23 | 77.14 | 84.19 | 82.06 | 77.36 | 82.74 | 78.13 | 72.86 | 71.23 | 77.37 | 76.24 | 74.76 |
| Total Non-Current Liabilities | 32.48B | 31.83B | 31.82B | 29.91B | 29.62B | 29.17B | 29.72B | 29.42B | 29.65B | 28.9B | 27.96B | 28.14B | 28.11B | 28.02B | 28.61B | 29.33B | 30.86B | 31.02B | 31.93B | 33.31B |
| Long-Term Debt | 17.25B | 16.72B | 16.63B | 15.18B | 14.95B | 14.77B | 16.16B | 16.02B | 16.17B | 14.03B | 14.59B | 14.73B | 14.74B | 13.91B | 12.92B | 13.06B | 14.11B | 13.41B | 14.03B | 15.09B |
| Capital Lease Obligations | 1.15B | 2.22B | 2.13B | 2.05B | 2.01B | 1.92B | 1.02B | 1.03B | 1.07B | 1.91B | 1.02B | 1.04B | 1.01B | 1.79B | 1.01B | 1.04B | 1.09B | 2.02B | 1.43B | 1.42B |
| Deferred Tax Liabilities | 348M | 364M | 383M | 378M | 407M | 392M | 397M | 372M | 383M | 399M | 668M | 671M | 744M | 1.11B | 716M | 752M | 654M | 506M | 501M | 504M |
| Other Non-Current Liabilities | 13.73B | 12.52B | 12.69B | 12.31B | 12.26B | 12.09B | 12.14B | 12B | 12.03B | 12.56B | 11.68B | 11.69B | 11.62B | 11.22B | 13.96B | 14.47B | 15B | 15.09B | 15.97B | 16.29B |
| Total Liabilities | 43.02B | 41.02B | 41.93B | 40.4B | 40.2B | 39.46B | 40.55B | 39.73B | 39.9B | 38.86B | 38.21B | 37.78B | 38.6B | 39.36B | 40.93B | 42.64B | 43.91B | 44.25B | 44.72B | 45.62B |
| Total Debt | 19.63B | 19.6B | 19.63B | 18.1B | 17.92B | 17.64B | 17.91B | 17.72B | 17.74B | 16.45B | 16.27B | 16.3B | 16.57B | 16.71B | 14.76B | 15.05B | 15.95B | 16.14B | 16.43B | 17.56B |
| Net Debt | 15.52B | 15.78B | 15.02B | 15.59B | 16.46B | 15.46B | 15.03B | 14.38B | 14.02B | 13.46B | 13.19B | 13.37B | 13.26B | 12.82B | 12.54B | 12.69B | 12.81B | 13.15B | 13.52B | 14.07B |
| Debt / Equity | 1.17x | 1.12x | 1.03x | 0.97x | 1.04x | 0.99x | 0.95x | 0.94x | 0.94x | 0.86x | 0.81x | 0.79x | 0.80x | 0.79x | 0.79x | 0.77x | 0.82x | 0.86x | 0.96x | 1.09x |
| Debt / EBITDA | 1308.60x | - | 23.17x | 24.70x | 21.03x | 16.44x | 16.11x | 13.24x | 12.46x | 16.30x | 13.60x | 10.59x | 13.14x | 15.70x | 8.79x | 5.80x | 5.56x | 6.55x | 5.08x | 5.61x |
| Net Debt / EBITDA | 1034.60x | - | 17.73x | 21.27x | 19.31x | 14.40x | 13.51x | 10.75x | 9.84x | 13.34x | 11.03x | 8.69x | 10.51x | 12.05x | 7.47x | 4.89x | 4.46x | 5.34x | 4.18x | 4.49x |
| Interest Coverage | 0.68x | -6.07x | 1.32x | -1.97x | -0.59x | 2.27x | 2.64x | 4.18x | 3.28x | -0.79x | 3.21x | 5.16x | 0.34x | 6.00x | 7.59x | 14.31x | 13.61x | 13.84x | 13.92x | 14.35x |
| Total Equity | 16.76B | 17.52B | 19.06B | 18.59B | 17.3B | 17.85B | 18.84B | 18.8B | 18.92B | 19.11B | 20.08B | 20.51B | 20.71B | 21.25B | 18.63B | 19.51B | 19.43B | 18.74B | 17.03B | 16.15B |
| Equity Growth % | -3.08% | -1.84% | 1.18% | -1.11% | -8.57% | -6.58% | -6.17% | -8.33% | -8.68% | -10.07% | 7.79% | 5.14% | 6.64% | 13.38% | 9.4% | 20.76% | 33.39% | 44.09% | 31.67% | 23.33% |
| Book Value per Share | 23.24 | 24.40 | 26.73 | 26.36 | 24.47 | 25.32 | 26.78 | 26.66 | 26.81 | 27.16 | 28.38 | 28.89 | 29.25 | 29.80 | 25.94 | 26.67 | 26.26 | 25.21 | 22.70 | 21.45 |
| Total Shareholders' Equity | 15.25B | 16.01B | 17.54B | 17.23B | 16.79B | 17.36B | 18.31B | 18.32B | 18.43B | 18.61B | 19.57B | 20B | 20.18B | 20.72B | 18.12B | 18.97B | 18.88B | 18.16B | 16.44B | 15.57B |
| Common Stock | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M |
| Retained Earnings | 15.99B | 16.78B | 18.58B | 18.77B | 20.1B | 20.91B | 21.46B | 21.74B | 21.8B | 21.77B | 22.38B | 22.57B | 22.58B | 23.18B | 23.07B | 22.83B | 21.67B | 20.62B | 19.36B | 18.2B |
| Treasury Stock | -4.12B | -4.23B | -4.38B | -4.47B | -4.56B | -4.66B | -4.71B | -4.66B | -4.51B | -4.37B | -4.28B | -4.17B | -3.95B | -3.87B | -3.77B | -3B | -2.22B | -1.63B | -1.23B | -825M |
| Accumulated OCI | -7.7B | -7.66B | -7.76B | -7.83B | -7.96B | -8.11B | -7.5B | -7.79B | -7.81B | -7.68B | -7.26B | -7.07B | -7.07B | -7.14B | -9.58B | -9.2B | -8.8B | -8.98B | -9.66B | -9.68B |
| Minority Interest | 1.51B | 1.51B | 1.52B | 1.36B | 507M | 496M | 530M | 482M | 492M | 501M | 513M | 512M | 534M | 529M | 512M | 534M | 545M | 574M | 589M | 580M |