Dow Inc (2OY.DE) Q1 2025: 2oy De

Executive Summary

Dow Inc reported QQ1 2025 revenue of $10.431 billion, up 0.25% QoQ but down 3.1% year over year. The gross profit of $704 million produced a margin of 6.75%, while operating income reached $138 million for a 1.32% operating margin. Despite a positive operating result, the company posted a net loss of $307 million driven by a substantial negative other income/expenses line of $-512 million and a tax benefit of $84 million. EBITDA stood at $575 million, but interest expense of $235 million and depreciation & amortization of $714 million contributed to earnings headwinds. Free cash flow was negative at $(594) million, as capital expenditures totaled $685 million and working capital movements weighed on cash generation.

Key Performance Indicators

Revenue

10.43B

QoQ: 0.25% | YoY:-3.10%

Gross Profit

704.00M

6.75% margin

QoQ: -24.71% | YoY:-44.87%

Operating Income

138.00M

QoQ: -54.61% | YoY:-74.91%

Net Income

-307.00M

QoQ: -479.25% | YoY:-159.50%

EPS

-0.44

QoQ: -833.33% | YoY:-160.27%

Revenue Trend

Margin Analysis

Key Insights

Revenue: $10.431B; YoY revenue change: -3.1%, QoQ: +0.25% Gross Profit: $704M; Gross margin: 6.75%; YoY gross profit change: -44.87%, QoQ: -24.71% Operating Income: $138M; Operating margin: 1.32%; YoY: -74.91%, QoQ: -54.61% Net Income: $(307)M; Net margin: -2.94%; YoY: -159.50%, QoQ: -479.25% EPS: $(0.44); Diluted EPS: $(0.44); YoY: -160.27%, QoQ: -833.33% EBITDA: $575M; EBITDA margin (EBITDARatio): 5.51% Free Cash Flow: $(594)M; Operating cash flow: $91M; Capex: $(685)M; Net debt: $16.46B; Tota...

Financial Highlights

Revenue: $10.431B; YoY revenue change: -3.1%, QoQ: +0.25%
Gross Profit: $704M; Gross margin: 6.75%; YoY gross profit change: -44.87%, QoQ: -24.71%
Operating Income: $138M; Operating margin: 1.32%; YoY: -74.91%, QoQ: -54.61%
Net Income: $(307)M; Net margin: -2.94%; YoY: -159.50%, QoQ: -479.25%
EPS: $(0.44); Diluted EPS: $(0.44); YoY: -160.27%, QoQ: -833.33%
EBITDA: $575M; EBITDA margin (EBITDARatio): 5.51%
Free Cash Flow: $(594)M; Operating cash flow: $91M; Capex: $(685)M; Net debt: $16.46B; Total debt: $17.92B; Cash and cash equivalents: $1.465B; Cash conversion metrics indicate limited near-term cash generation to cover heavy financing costs.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	10.43B	-3.10%	0.25%
Gross Profit	704.00M	-44.87%	-24.71%
Operating Income	138.00M	-74.91%	-54.61%
Net Income	-307.00M	-159.50%	-479.25%
EPS	-0.44	-160.27%	-833.33%

Key Financial Ratios

currentRatio

1.54

grossProfitMargin

6.75%

operatingProfitMargin

1.32%

netProfitMargin

-2.94%

returnOnAssets

-0.53%

returnOnEquity

-1.83%

debtEquityRatio

1.07

operatingCashFlowPerShare

$0.13

freeCashFlowPerShare

$-0.84

dividendPayoutRatio

-160.9%

priceToBookRatio

1.47

priceEarningsRatio

-20.1

Net Income vs. Revenue

Expense Breakdown

Competitive Position

Company	Gross Margin	Operating Margin	Return on Equity	P/E Ratio
2OY.DE Focus	6.75%	1.32%	-1.83%	-20.10%
DOW	6.75%	1.32%	-1.83%	-20.10%
ASME.DE	54.00%	35.40%	13.50%	25.24%
MMM.DE	40.90%	20.50%	25.00%	17.89%

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q3 2025	9,973.00	0.08	-8.3%	View
Q2 2025	10,104.00	-1.18	-7.4%	View
Q1 2025	10,431.00	-0.44	-3.1%	View
Q4 2024	10,405.00	0.05	-2.0%	View
Q3 2024	10,879.00	0.30	+1.4%	View

Dow Inc (2OY.DE) Q1 2025 Earnings Report

Earnings Highlights

Dow Inc (2OY.DE) QQ1 2025 Results Analysis: Revenue Stabilizes Amid Margin Pressures and Elevated Non-Operating Costs

Executive Summary

Key Performance Indicators

Revenue

Gross Profit

Operating Income

Net Income

EPS

Revenue Trend

Margin Analysis

Key Insights

Financial Highlights

Income Statement

Key Financial Ratios

Net Income vs. Revenue

Expense Breakdown

Management Commentary

Forward Guidance

Competitive Position

Gross Profit Margin

Operating Profit Margin

Return on Equity

P/E Ratio Comparison

Investment Outlook

Key Investment Factors

Growth Potential

Profitability Risk

Financial Position

SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

Historical Earnings Comparison

Dow Inc (2OY.DE) Q1 2025 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue

Gross Profit

Operating Income

Net Income

EPS

Revenue Trend

Margin Analysis

Key Insights

Financial Highlights

Income Statement

Key Financial Ratios

Net Income vs. Revenue

Expense Breakdown

Management Commentary

Forward Guidance

Competitive Position

Gross Profit Margin

Operating Profit Margin

Return on Equity

P/E Ratio Comparison

Investment Outlook

Key Investment Factors

Growth Potential

Profitability Risk

Financial Position

SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

Historical Earnings Comparison

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