DOW INC（DOW）の決算・業績分析
DOW INCの2025年有価証券報告書をAI分析。売上高$40.0B(-7.0%)。Materials。
目次
DOW INCの2025年度 業績サマリー
DOW INC（証券コード: DOW）の2025年度決算・業績分析。売上高は$40.0B（前年比-7.0%）。純利益は-$2.4B（前年比-303.5%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
DOW INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue increased 3.5% YoY to $56.9B (XBRL), but net income fell 27.6% YoY to $4.6B (XBRL).
- Operating cash flow rose to $7.5B (XBRL), while 5-year revenue CAGR is negative at -2.1% (XBRL).
- Shareholders received $4.3B in dividends and buybacks (XBRL), despite a 27.6% drop in net income.
DOW INCの売上高変化の要因
- •Total revenue grew 3.5% YoY to $56.9B (XBRL), driven by mixed segment performance: Packaging & Specialty Plastics (-6% YoY), Industrial Intermediates & Infrastructure (-5% YoY), and Performance Materials & Coatings (+1% YoY) (10-K). The 5-year revenue CAGR is -2.1% (XBRL), reflecting long-term competitive and macroeconomic challenges. Historical data shows revenue peaked at $56.9B in FY2024 but fell to $44.6B in FY2025 (XBRL).
DOW INCの営業利益変化の要因
- •Operating income was $6.0B (10.6% margin) (XBRL), down from prior years due to 4% YoY local price declines, restructuring charges ($103M) (10-K), and asset impairment ($37M) (10-K). Net income fell 27.6% YoY to $4.6B (XBRL). EBITDA was $8.8B (15.5% margin) (XBRL), but gross profit data is unavailable (N/A). Operating margin declined due to cost pressures and restructuring.
DOW INCの事業リスクと対応
Climate change risks: Severe weather, carbon pricing, and sustainability commitments may disrupt operations and increase costs (10-K).
Macroeconomic risks: Credit market constraints and fluctuating interest rates could limit liquidity and raise borrowing costs (10-K).
Regulatory risks: Evolving climate laws, reporting standards, and trade regulations may increase compliance costs (10-K).
Competitive pressures: Global competition and customer demand for sustainable solutions could reduce sales or pricing power (10-K).
Project execution risks: Failure to deliver the Alberta net-zero facility on time or within budget may hinder emissions reduction goals (10-K).
DOW INCの今後の見通し・業績予想
DOW INCの事業内容
Dow Inc. is a global materials science company with three core segments: Packaging & Specialty Plastics (polyolefins, packaging solutions), Industrial Intermediates & Infrastructure (industrial chemicals), and Performance Materials & Coatings (specialty materials). The company leverages low-cost feedstock, global manufacturing scale, and proprietary technologies to serve markets in packaging, infrastructure, and consumer applications. It employs ~36,000 people (10-K) and faces competitive pressures from sustainability trends and global pricing dynamics.
DOW INCのAI業績分析レポート（2024年度）
DOW INC. (DOW) FY2024 Annual Report Analysis
Highlights
Business Overview
Dow Inc. is a global materials science company with three core segments: Packaging & Specialty Plastics (polyolefins, packaging solutions), Industrial Intermediates & Infrastructure (industrial chemicals), and Performance Materials & Coatings (specialty materials). The company leverages low-cost feedstock, global manufacturing scale, and proprietary technologies to serve markets in packaging, infrastructure, and consumer applications. It employs ~36,000 people (10-K) and faces competitive pressures from sustainability trends and global pricing dynamics.
Revenue Analysis
Total revenue grew 3.5% YoY to $56.9B (XBRL), driven by mixed segment performance: Packaging & Specialty Plastics (-6% YoY), Industrial Intermediates & Infrastructure (-5% YoY), and Performance Materials & Coatings (+1% YoY) (10-K). The 5-year revenue CAGR is -2.1% (XBRL), reflecting long-term competitive and macroeconomic challenges. Historical data shows revenue peaked at $56.9B in FY2024 but fell to $44.6B in FY2025 (XBRL).
Profitability Analysis
Operating income was $6.0B (10.6% margin) (XBRL), down from prior years due to 4% YoY local price declines, restructuring charges ($103M) (10-K), and asset impairment ($37M) (10-K). Net income fell 27.6% YoY to $4.6B (XBRL). EBITDA was $8.8B (15.5% margin) (XBRL), but gross profit data is unavailable (N/A). Operating margin declined due to cost pressures and restructuring.
Balance Sheet Analysis
Equity ratio was 34.2% (XBRL), with total equity rising to $20.7B in FY2024 (XBRL). Current ratio was 1.77x (XBRL), indicating strong short-term liquidity. Total assets decreased slightly to $60.6B in FY2024 (XBRL), while cash reserves stood at $3.9B (XBRL).
Cash Flow Analysis
Operating cash flow was $7.5B (XBRL), exceeding net income due to working capital improvements (receivables: 30 days, inventory: 46 days) (XBRL). Free cash flow was $4.5B (XBRL), with $2.0B in dividends and $2.3B in share repurchases (XBRL). Investing cash flow was -$3.0B (XBRL), driven by the divestiture of flexible packaging laminating adhesives business (10-K).
Working Capital Analysis
Receivables Days: 30 days (XBRL); Inventory Days: 46 days (XBRL). Data on payables days or cash conversion cycle is unavailable (N/A).
Risks
Outlook
Management highlights ongoing cost management and innovation as key priorities (10-K). The 5-year revenue CAGR of -2.1% (XBRL) reflects long-term competitive and market challenges, including 4% YoY local price declines and currency impacts. Forward-looking guidance is not explicitly detailed in the provided 10-K text (N/A).
Materialsの企業一覧
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