How does Dow (DOW) make money?

Dow (DOW) generates revenue primarily from Packaging & Specialty Plastics, which accounted for 51.5% of total revenue in TTM through Q2 2026. The company reported $41.3B in revenue and converted -2.9% of it into net profit, equivalent to roughly -$1.21B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Dow (DOW)?

Dow (DOW) reported a gross profit margin of 9.8% in TTM through Q2 2026, equivalent to $4.04B in gross profit on $41.3B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Dow (DOW)?

Dow (DOW) reported an operating profit margin of -0.1% in TTM through Q2 2026, equivalent to -$34M in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Dow (DOW)?

Dow (DOW) reported a net profit margin of -2.9% in TTM through Q2 2026, equivalent to -$1.21B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Dow (DOW) profitable?

Dow (DOW) reported a net loss of $1.21B for TTM through Q2 2026, a net profit margin of -2.9%. Combined operating expenses, interest, and income taxes exceeded revenue, so the period closed in the red on a reported basis.

How much does Dow (DOW) invest in research and development?

Dow (DOW) invested $752M in research and development during TTM through Q2 2026, roughly 1.8% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Dow (DOW) spend on capital expenditures?

Dow (DOW) spent $4.18B on capital expenditures (CapEx) during TTM through Q2 2026, roughly 10.1% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Dow (DOW) generate?

Dow (DOW) generated $436M in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 1.1%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What are the main business segments of Dow (DOW)?

Dow (DOW) reports revenue across 3 reportable product segments, led by Packaging & Specialty Plastics at 51.5% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Dow (DOW) generate most of its revenue?

U.S.& Canada is the largest geographic market for Dow (DOW), accounting for 39.1% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Dow Makes Money: 2026 Visual Revenue Map

Dow (DOW) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 30, 2026 (reported July 24, 2026).

Dow (DOW) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Dow (DOW), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Packaging & Specialty Plastics	$21.3B	51.5%
Industrial Intermediates & Infrastructure	$11.5B	27.8%
Performance Materials & Coatings	$8.52B	20.6%
Total	$41.3B	100%

Packaging & Specialty Plastics$21.3B
Industrial Intermediates & Infrastructure$11.5B
Performance Materials & Coatings$8.52B
Total$41.3B

Dow (DOW) Revenue by Geography — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Dow (DOW), TTM through Q2 2026
Region	Revenue (USD)	% of total
U.S.& Canada	$16.2B	39.1%
Europe, Middle East, Africa and India [Domain]	$13.2B	31.8%
Asia Pacific	$7.18B	17.4%
Latin America	$4.81B	11.7%
Total	$41.3B	100%

U.S.& Canada
Europe, Middle East, Africa and India [Domain]
Asia Pacific
Latin America
Total

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Dow (DOW) reports revenue across 3 reportable product segments; the largest segment was Packaging & Specialty Plastics at 51.5%, followed by Industrial Intermediates & Infrastructure (27.8%) and Performance Materials & Coatings (20.6%). Geographically, U.S.& Canada accounted for 39.1% of revenue, followed by Europe, Middle East, Africa and India [Domain] (31.8%) and Asia Pacific (17.4%).

Frequently asked questions

Data & methodology

Dow (DOW) Key Financials

Charts, filings, and peer comparison for every metric

Trains Company Knowledge

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

DOW Overview

Counters

Income Statement

Cash Flow

Capital Return

How this company returns cash to shareholders — buybacks, dividends, and stock splits.

Forecast & Valuation