01—Abstract
Summary
Summary of the 10-K filed February 17, 2026. Cited figures are marked; the original filing is the authoritative source.
DuPont de Nemours, Inc. reported 2025 net sales of $6.8 billiona, up 2 percent from $6.7 billion in 2024, driven by a 3 percent increase in volume partially offset by a 1 percent decrease in local price and product mix.
Following the November 1, 2025 spinoff of Qnity Electronics, the Electronics Business and the Aramids Business are reported as discontinued operations, so the company's continuing results now consist of two segments: Healthcare & Water Technologies (net sales of $3.23 billionb, Operating EBITDA of $972 million, up 15 percent) and Diversified Industrials (net sales of $3.62 billion, Operating EBITDA of $800 million, down 5 percent). Net income available to common stockholders was a loss of $779 million in 2025, driven by a $836 million loss from discontinued operations, including a $768 million goodwill impairment and a $444 million loss on classification of the Aramids business as held for sale. Income from continuing operations was $98 million.
Balance sheet and capital allocation changed significantly. Total debt fell to $3.2 billionc from $7.2 billion at year-end 2024, and cash and cash equivalents were $715 million. Qnity paid DuPont a cash distribution of approximately $4.1 billion in connection with the separation, which funded debt repayments and the $500 million accelerated share repurchase under a new $2 billion authorization.
Dividends paid were $1.43d per share in 2025. Credit ratings at January 31, 2026 were BBB+ (S&P), Baa1 (Moody's) and BBB+ (Fitch), all stable. Looking ahead, the pending sale of the Aramids business to Arclin, a TJC affiliate, is expected to close around the end of the first quarter 2026, with pre-tax cash proceeds of approximately $1.2 billion, a $300 million note receivable and an equity interest valued at $325 million.
On February 13, 2026, the company committed to a cost-reduction plan expected to incur $100 million to $150 million of pre-tax restructuring and other costs from 2026 through 2028. For 2026, the company expects growth in Healthcare and Water, about flat Building Technologies, low-single-digit growth in Industrial Technologies, and capital expenditures of about $320 million.
02—Key points
Key Highlights
- Net sales were $6.85 billion in 2025, up 2 percent, with volume up 3 percent; Healthcare & Water Technologies volume rose 7 percent while Diversified Industrials volume fell 1 percent.
- Net loss available to common stockholders was $779 million, or $(1.86) per diluted share, versus net income of $703 million in 2024, reflecting $836 million of losses from discontinued operations including the Aramids goodwill impairment of $768 million.
- Income from continuing operations was $98 million, compared with a loss of $96 million in 2024; the effective tax rate was 51.0 percent on pre-tax income from continuing operations of $200 million.
- Total debt declined to $3.2 billion from $7.2 billion, supported by the $4.1 billion cash distribution from Qnity Electronics at the November 1, 2025 separation.
- A new $2 billion share repurchase authorization was approved in the fourth quarter of 2025; about $500 million was executed under an accelerated share repurchase, with 12.2 million shares repurchased at an average price of $40.89.
- The pending Aramids Divestiture to Arclin is expected to close around the end of the first quarter 2026 with pre-tax cash proceeds of approximately $1.2 billion, a $300 million note receivable and a $325 million equity interest.
- A cost-reduction plan committed to on February 13, 2026 is expected to cost $100 million to $150 million pre-tax over 2026 through 2028.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2025filed February 17, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $6.85B$6.72B | +1.9% |
| Cost of Revenue | $4.49B$4.50B | −0.3% |
| Gross Profit | $2.36B$2.22B | +6.4% |
| R&D Expenses | $193.00M$203.00M | −4.9% |
| SG&A Expenses | $1.02B$976.00M | +4.4% |
| Net Income | $88.00M$703.00M | −87.5% |
| EPS (Basic) | $-1.87$1.68 | −211.3% |
| EPS (Diluted) | $-1.86$1.68 | −210.7% |
| Shares Outstanding (Basic) | 417.50M419.20M | −0.4% |
| Shares Outstanding (Diluted) | 419.20M419.20M | 0.0% |
05—Questions
Frequently Asked Questions
How did DuPont perform in 2025 on a continuing operations basis?
Net sales were $6.85 billion, up 2 percent from $6.72 billion in 2024. Healthcare & Water Technologies net sales rose 9 percent to $3.23 billion with Operating EBITDA up 15 percent to $972 million. Diversified Industrials net sales fell 3 percent to $3.62 billion with Operating EBITDA down 5 percent to $800 million. Income from continuing operations was $98 million.
Why was DuPont's reported net income negative in 2025?
Net loss available to common stockholders was $779 million, driven by a $836 million loss from discontinued operations. The main components were a $768 million goodwill impairment for the Aramids business and a $444 million loss from classifying Aramids as held for sale, partly offset by income from the Electronics Separation of $513 million.
What happened to DuPont's debt and capital structure?
Total debt fell to $3.2 billion at December 31, 2025 from $7.2 billion a year earlier. The decrease reflected repayment of $1.85 billion of notes due November 2025, the Special Mandatory Redemption and Tender Offer related to the post-separation capital structure, partly offset by $60 million of commercial paper. Qnity's approximately $4.1 billion cash distribution funded much of this. Credit ratings were BBB+, Baa1 and BBB+ with stable outlooks.
What are the expected outcomes of the Aramids sale and the 2026 restructuring?
The Aramids Divestiture to Arclin is expected to close around the end of the first quarter 2026, with approximately $1.2 billion of pre-tax cash proceeds, a $300 million note receivable and a non-controlling equity interest valued at $325 million. The restructuring plan committed to on February 13, 2026 is expected to cost $100 million to $150 million pre-tax from 2026 through 2028.
What does DuPont expect for 2026 by business?
DuPont expects continued growth in Healthcare, driven by medical packaging and medical devices, and in Water, driven by reverse osmosis and ion exchange. Building Technologies is expected to be about flat after a year of market declines, and Industrial Technologies is expected to grow at a low-single-digit rate. Capital expenditures are expected to be about $320 million.
06—Continue