NYSE : ADM
Archer-Daniels-Midland Company — Financial statements
Consumer Staples · Farm Products · United States
Last price 76.91 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 37.07B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Archer-Daniels-Midland Company (ADM) reported revenue of 82.10B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 82.10B | 80.27B | 85.53B | 93.94B | 101.56B | 85.25B |
| Cost of Revenue | 76.46B | 75.24B | 79.75B | 86.42B | 93.99B | 79.26B |
| Gross Profit | 5.64B | 5.03B | 5.78B | 7.51B | 7.57B | 5.99B |
| Selling, General & Admin | 3.75B | 3.59B | 3.68B | 3.43B | 3.29B | 3.07B |
| Other Operating Expenses | -17.00M | 21.00M | 11.00M | |||
| Operating Expenses | 3.73B | 3.59B | 3.68B | 3.43B | 3.40B | 3.11B |
| Operating Income | 1.91B | 1.44B | 2.10B | 4.08B | 4.17B | 2.88B |
| Interest Expense | -592.00M | -612.00M | -706.00M | -647.00M | -396.00M | -265.00M |
| Interest & Investment Income | 291.00M | 118.00M | 562.00M | 499.00M | 293.00M | 47.00M |
| Earnings From Equity Investments | 601.00M | 648.00M | 621.00M | 551.00M | 832.00M | 595.00M |
| Currency Exchange Gain (Loss) | 65.00M | -144.00M | 142.00M | 43.00M | 194.00M | 189.00M |
| Other Non Operating Income (Expenses) | 29.00M | 199.00M | 59.00M | -62.00M | 75.00M | -79.00M |
| EBT Excluding Unusual Items | 2.30B | 1.65B | 2.77B | 4.46B | 5.17B | 3.36B |
| Merger & Restructuring Charges | -141.00M | -283.00M | -26.00M | -33.00M | -29.00M | -39.00M |
| Impairment of Goodwill | -137.00M | -6.00M | ||||
| Gain (Loss) on Sale of Investments | -461.00M | 49.00M | ||||
| Gain (Loss) on Sale of Assets | 119.00M | 77.00M | 27.00M | 38.00M | 78.00M | 100.00M |
| Asset Writedown | -182.00M | -190.00M | -58.00M | -172.00M | -37.00M | -119.00M |
| Other Unusual Items | 52.00M | -36.00M | ||||
| Pretax Income | 2.10B | 1.25B | 2.25B | 4.29B | 5.23B | 3.31B |
| Income Tax Expense | 316.00M | 182.00M | 476.00M | 828.00M | 868.00M | 578.00M |
| Earnings From Continuing Operations | 1.78B | 1.07B | 1.78B | 3.47B | 4.37B | 2.73B |
| Minority Interest in Earnings | -9.00M | 5.00M | 21.00M | 17.00M | -25.00M | -26.00M |
| Net Income | 1.77B | 1.08B | 1.80B | 3.48B | 4.34B | 2.71B |
| Net Income to Common | 1.77B | 1.08B | 1.80B | 3.48B | 4.34B | 2.71B |
| Shares Outstanding (Basic) | 485.00M | 484.00M | 492.00M | 541.00M | 562.00M | 564.00M |
| Shares Outstanding (Diluted) | 485.00M | 484.00M | 493.00M | 542.00M | 563.00M | 566.00M |
| EPS (Basic) | 3.65 | 2.23 | 3.66 | 6.44 | 7.72 | 4.80 |
| EPS (Diluted) | 3.65 | 2.23 | 3.65 | 6.43 | 7.71 | 4.79 |
| Free Cash Flow | 1.68B | 4.20B | 1.23B | 2.97B | 2.16B | 5.43B |
| Free Cash Flow Per Share | 3.46 | 8.69 | 2.49 | 5.47 | 3.83 | 9.59 |
| Dividend Per Share | 2.06 | 2.04 | 2.00 | 1.80 | 1.60 | 1.48 |
| Gross Margin | 6.87% | 6.27% | 6.75% | 8.00% | 7.45% | 7.02% |
| Operating Margin | 2.32% | 1.80% | 2.45% | 4.34% | 4.11% | 3.38% |
| Profit Margin | 2.16% | 1.34% | 2.10% | 3.71% | 4.27% | 3.18% |
| Free Cash Flow Margin | 2.04% | 5.24% | 1.44% | 3.16% | 2.13% | 6.37% |
| EBITDA | 3.00B | 2.52B | 3.15B | 5.07B | 5.13B | 3.84B |
| EBITDA Margin | 3.65% | 3.14% | 3.68% | 5.39% | 5.05% | 4.50% |
| D&A For EBITDA | 1.09B | 1.08B | 1.05B | 987.00M | 959.00M | 963.00M |
| EBIT | 1.91B | 1.44B | 2.10B | 4.08B | 4.17B | 2.88B |
| EBIT Margin | 2.32% | 1.80% | 2.45% | 4.34% | 4.11% | 3.38% |
| Effective Tax Rate | 15.08% | 14.50% | 21.11% | 19.28% | 16.59% | 17.45% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.06B | 1.01B | 611.00M | 1.37B | 1.04B | 943.00M |
| Short-Term Investments | 33.00M | 32.00M | 246.00M | |||
| Trading Asset Securities | 109.00M | 46.00M | ||||
| Cash & Short-Term Investments | 1.09B | 1.05B | 857.00M | 1.37B | 1.15B | 989.00M |
| Accounts Receivable | 4.11B | 3.59B | 4.58B | 5.28B | 6.24B | 4.49B |
| Other Receivables | 825.00M | 957.00M | 1.01B | 975.00M | 1.10B | 1.09B |
| Receivables | 5.09B | 4.81B | 5.85B | 6.50B | 7.57B | 5.77B |
| Inventory | 10.59B | 10.37B | 11.57B | 11.96B | 14.77B | 14.48B |
| Prepaid Expenses | 340.00M | 263.00M | 279.00M | 445.00M | 443.00M | 370.00M |
| Restricted Cash | 4.40B | 4.49B | 3.31B | 4.02B | 9.01B | 8.02B |
| Other Current Assets | 6.29B | 5.69B | 5.85B | 5.48B | 2.47B | 2.28B |
| Total Current Assets | 27.80B | 26.66B | 27.72B | 29.77B | 35.41B | 31.91B |
| Property, Plant & Equipment | 12.28B | 12.50B | 12.20B | 11.72B | 11.02B | 10.83B |
| Long-Term Investments | 6.06B | 5.70B | 5.71B | 5.94B | 5.96B | 5.58B |
| Goodwill | 4.65B | 4.77B | 4.51B | 4.10B | 4.16B | 4.18B |
| Other Intangible Assets | 1.84B | 1.98B | 2.26B | 2.24B | 2.38B | 2.56B |
| Long-Term Deferred Tax Assets | 349.00M | 352.00M | 295.00M | 337.00M | 326.00M | |
| Other Long-Term Assets | 884.00M | 426.00M | 522.00M | 571.00M | 507.00M | 746.00M |
| Total Assets | 53.53B | 52.39B | 53.27B | 54.63B | 59.77B | 56.14B |
| Accounts Payable | 4.99B | 5.20B | 5.54B | 6.31B | 7.80B | 6.39B |
| Accrued Expenses | 2.31B | 1.95B | 1.90B | 1.92B | 2.31B | 2.13B |
| Short-Term Debt | 407.00M | 798.00M | 1.90B | 105.00M | 503.00M | 958.00M |
| Current Portion of Long-Term Debt | 1.15B | 1.01B | 674.00M | 1.00M | 942.00M | 570.00M |
| Current Portion of Leases | 305.00M | 303.00M | 324.00M | 300.00M | 292.00M | 277.00M |
| Current Income Taxes Payable | 224.00M | 83.00M | 167.00M | 284.00M | 248.00M | 132.00M |
| Current Unearned Revenue | 315.00M | 524.00M | 690.00M | 776.00M | 694.00M | 581.00M |
| Other Current Liabilities | 10.31B | 9.68B | 8.74B | 8.97B | 11.40B | 10.91B |
| Total Current Liabilities | 20.01B | 19.53B | 19.94B | 18.66B | 24.19B | 21.95B |
| Long-Term Debt | 6.45B | 6.61B | 7.58B | 8.26B | 7.74B | 8.01B |
| Long-Term Leases | 1.03B | 1.04B | 1.06B | 931.00M | 816.00M | 765.00M |
| Long-Term Deferred Tax Liabilities | 1.10B | 1.14B | 1.27B | 1.31B | 1.40B | 1.41B |
| Other Long-Term Liabilities | 1.06B | 1.04B | 997.00M | 1.00B | 1.01B | 1.23B |
| Total Liabilities | 29.66B | 29.36B | 30.84B | 30.17B | 35.16B | 33.37B |
| Common Stock | 3.37B | 3.28B | 3.22B | 3.15B | 3.15B | 2.99B |
| Retained Earnings | 22.67B | 21.98B | 21.93B | 23.46B | 23.65B | 21.66B |
| Comprehensive Income & Other | -2.47B | -2.53B | -2.99B | -2.49B | -2.51B | -2.17B |
| Total Common Equity | 23.57B | 22.73B | 22.17B | 24.13B | 24.28B | 22.48B |
| Minority Interest | 299.00M | 294.00M | 263.00M | 333.00M | 332.00M | 290.00M |
| Shareholders' Equity | 23.87B | 23.03B | 22.43B | 24.46B | 24.62B | 22.77B |
| Total Liabilities & Equity | 53.53B | 52.39B | 53.27B | 54.63B | 59.77B | 56.14B |
| Total Debt | 9.34B | 9.76B | 11.54B | 9.60B | 10.29B | 10.58B |
| Net Cash (Debt) | -8.25B | -8.71B | -10.68B | -8.23B | -9.14B | -9.59B |
| Net Cash Per Share | -17.01 | -18.00 | -21.67 | -15.18 | -16.24 | -16.95 |
| Filing Date Shares Outstanding | 481.96M | 481.20M | 479.71M | 509.85M | 548.01M | 562.17M |
| Total Common Shares Outstanding | 482.00M | 480.00M | 478.00M | 513.00M | 547.07M | 560.00M |
| Working Capital | 7.79B | 7.13B | 7.78B | 11.11B | 11.22B | 9.96B |
| Book Value Per Share | 48.91 | 47.36 | 46.38 | 47.04 | 44.39 | 40.14 |
| Tangible Book Value | 17.07B | 15.99B | 15.40B | 17.79B | 17.74B | 15.73B |
| Tangible Book Value Per Share | 35.43 | 33.31 | 32.22 | 34.68 | 32.43 | 28.09 |
| Land | 604.00M | 607.00M | 566.00M | 573.00M | 502.00M | 554.00M |
| Buildings | 6.38B | 6.44B | 6.14B | 5.88B | 5.64B | 5.60B |
| Machinery | 22.07B | 22.04B | 20.64B | 20.22B | 19.19B | 19.11B |
| Construction In Progress | 1.04B | 1.11B | 1.55B | 1.36B | 1.44B | 960.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.77B | 1.08B | 1.80B | 3.48B | 4.34B | 2.71B |
| Depreciation & Amortization | 1.09B | 1.08B | 1.05B | 987.00M | 959.00M | 963.00M |
| Other Amortization | 82.00M | 82.00M | 89.00M | 72.00M | 69.00M | 33.00M |
| Loss (Gain) From Sale of Assets | 285.00M | 285.00M | -12.00M | 38.00M | -115.00M | -149.00M |
| Asset Writedown & Restructuring Costs | 278.00M | 381.00M | 519.00M | 309.00M | 37.00M | 125.00M |
| Loss (Gain) on Equity Investments | -214.00M | -224.00M | -180.00M | -143.00M | -457.00M | -177.00M |
| Stock-Based Compensation | 149.00M | 83.00M | 74.00M | 112.00M | 147.00M | 161.00M |
| Other Operating Activities | -225.00M | -75.00M | -60.00M | -131.00M | 30.00M | 276.00M |
| Change in Accounts Receivable | 279.00M | 855.00M | 447.00M | 737.00M | -1.68B | -578.00M |
| Change in Inventory | -939.00M | 1.51B | 162.00M | 2.89B | -295.00M | -2.84B |
| Change in Accounts Payable | 499.00M | -473.00M | -719.00M | -1.54B | 1.39B | 1.92B |
| Change in Other Net Operating Assets | -259.00M | 870.00M | -382.00M | -2.35B | -944.00M | 4.15B |
| Operating Cash Flow | 2.79B | 5.45B | 2.79B | 4.46B | 3.48B | 6.59B |
| Capital Expenditures | -1.12B | -1.25B | -1.56B | -1.49B | -1.32B | -1.17B |
| Sale of Property, Plant & Equipment | 126.00M | 111.00M | 66.00M | 60.00M | 131.00M | 245.00M |
| Cash Acquisitions | -13.00M | -108.00M | -927.00M | -23.00M | -22.00M | -1.56B |
| Investment in Securities | -16.00M | 234.00M | -224.00M | -232.00M | -103.00M | |
| Other Investing Activities | 22.00M | -6.00M | -54.00M | -39.00M | 42.00M | -78.00M |
| Investing Cash Flow | -999.00M | -1.02B | -2.70B | -1.50B | -1.40B | -2.67B |
| Short-Term Debt Issued | 1.80B | |||||
| Long-Term Debt Issued | 11.00M | 27.00M | 501.00M | 752.00M | 1.33B | |
| Total Debt Issued | 11.00M | 11.00M | 1.83B | 501.00M | 752.00M | 1.33B |
| Short-Term Debt Repaid | -1.11B | -390.00M | -428.00M | -1.08B | ||
| Long-Term Debt Repaid | -772.00M | -1.00M | -963.00M | -482.00M | -534.00M | |
| Total Debt Repaid | -1.22B | -1.89B | -1.00M | -1.35B | -910.00M | -1.62B |
| Net Debt Issued (Repaid) | -1.21B | -1.88B | 1.83B | -852.00M | -158.00M | -290.00M |
| Repurchase of Common Stock | -2.33B | -2.67B | -1.45B | |||
| Common Dividends Paid | -1.00B | -987.00M | -985.00M | -977.00M | -899.00M | -834.00M |
| Other Financing Activities | -49.00M | -25.00M | -44.00M | -102.00M | 8.00M | 6.00M |
| Financing Cash Flow | -2.26B | -2.89B | -1.53B | -4.60B | -2.50B | -1.12B |
| Foreign Exchange Rate Adjustments | -20.00M | 33.00M | -24.00M | -3.00M | ||
| Net Cash Flow | -487.00M | 1.58B | -1.47B | -1.64B | -421.00M | 2.81B |
| Free Cash Flow | 1.68B | 4.20B | 1.23B | 2.97B | 2.16B | 5.43B |
| Free Cash Flow Margin | 2.04% | 5.24% | 1.44% | 3.16% | 2.13% | 6.37% |
| Free Cash Flow Per Share | 3.46 | 8.69 | 2.49 | 5.47 | 3.83 | 9.59 |
| Levered Free Cash Flow | 1.16B | 2.15B | 839.12M | 3.49B | 1.18B | 1.54B |
| Unlevered Free Cash Flow | 1.53B | 2.53B | 1.28B | 3.89B | 1.43B | 1.71B |
| Cash Interest Paid | 629.00M | 629.00M | 710.00M | 711.00M | 409.00M | 276.00M |
| Cash Income Tax Paid | 389.00M | 389.00M | 658.00M | 742.00M | 708.00M | 553.00M |
| Change in Working Capital | -420.00M | 2.76B | -492.00M | -267.00M | -1.53B | 2.65B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 36.52B | 27.63B | 24.18B | 38.52B | 51.01B | 37.81B |
| Enterprise Value | 44.77B | 35.86B | 35.03B | 46.88B | 59.87B | 46.88B |
| Last Close Price | 76.91 | 56.33 | 47.64 | 65.73 | 82.60 | 59.01 |
| PE Ratio | 20.76 | 25.63 | 13.43 | 11.06 | 11.75 | 13.96 |
| Forward PE | 12.76 | 14.96 | 10.93 | 11.04 | 14.11 | 14.49 |
| PS Ratio | 0.45 | 0.34 | 0.28 | 0.41 | 0.50 | 0.44 |
| PB Ratio | 1.57 | 1.20 | 1.08 | 1.57 | 2.07 | 1.66 |
| P/TBV Ratio | 2.14 | 1.73 | 1.57 | 2.17 | 2.88 | 2.40 |
| P/FCF Ratio | 21.80 | 6.57 | 19.70 | 12.99 | 23.62 | 6.97 |
| P/OCF Ratio | 13.08 | 5.07 | 8.66 | 8.64 | 14.66 | 5.73 |
| PEG Ratio | 4.32 | 1.85 | 1.85 | 1.95 | 1.68 | |
| EV/Sales Ratio | 0.55 | 0.45 | 0.41 | 0.50 | 0.59 | 0.55 |
| EV/EBITDA Ratio | 14.96 | 14.22 | 11.13 | 9.25 | 11.67 | 12.21 |
| EV/EBIT Ratio | 23.52 | 24.87 | 16.72 | 11.49 | 14.35 | 16.30 |
| EV/FCF Ratio | 26.71 | 8.53 | 28.55 | 15.80 | 27.73 | 8.64 |
| Debt / Equity Ratio | 0.39 | 0.42 | 0.51 | 0.39 | 0.42 | 0.47 |
| Debt / EBITDA Ratio | 2.65 | 3.19 | 3.13 | 1.72 | 1.83 | 2.46 |
| Debt / FCF Ratio | 5.57 | 2.32 | 9.40 | 3.23 | 4.76 | 1.95 |
| Net Debt / Equity Ratio | 0.35 | 0.38 | 0.48 | 0.34 | 0.37 | 0.42 |
| Net Debt / EBITDA Ratio | 2.75 | 3.46 | 3.39 | 1.62 | 1.78 | 2.50 |
| Net Debt / FCF Ratio | 4.92 | 2.07 | 8.71 | 2.77 | 4.23 | 1.77 |
| Asset Turnover | 1.56 | 1.52 | 1.58 | 1.64 | 1.75 | 1.61 |
| Inventory Turnover | 7.53 | 6.86 | 6.78 | 6.47 | 6.43 | 6.05 |
| Quick Ratio | 0.30 | 0.29 | 0.32 | 0.41 | 0.35 | 0.30 |
| Current Ratio | 1.39 | 1.36 | 1.39 | 1.59 | 1.46 | 1.45 |
| Return on Equity (ROE) | 7.64% | 4.72% | 7.59% | 14.12% | 18.42% | 12.76% |
| Return on Assets (ROA) | 2.26% | 1.71% | 2.43% | 4.46% | 4.50% | 3.40% |
| Return on Invested Capital (ROIC) | 4.96% | 3.80% | 5.02% | 9.91% | 10.52% | 7.56% |
| Return on Capital Employed (ROCE) | 5.70% | 4.40% | 6.30% | 11.30% | 11.70% | 8.40% |
| Earnings Yield | 4.82% | 3.90% | 7.45% | 9.04% | 8.51% | 7.16% |
| FCF Yield | 4.59% | 15.22% | 5.08% | 7.70% | 4.23% | 14.35% |
| Dividend Yield | 2.74% | 3.54% | 3.95% | 2.40% | 1.72% | 2.19% |
| Payout Ratio | 56.99% | 91.56% | 54.72% | 28.05% | 20.71% | 30.79% |
| Buyback Yield / Dilution | -0.31% | 1.83% | 9.04% | 3.73% | 0.53% | -0.18% |
| Total Shareholder Return | 2.43% | 5.37% | 13.00% | 6.13% | 2.25% | 2.02% |