Archer-Daniels-Midland Co ADM
Archer-Daniels-Midland Company and its subsidiaries (the "Company" or "ADM") unlocks the power of nature to enrich the quality of life. The Company is an essential global agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. ADM is also a premier human and animal nutrition provider, as well as a leader in health and well-being products.
The Company partners with thousands of farmers around the world to purchase their crops and uses its integrated global origination, logistics, and manufacturing network to transform many of those raw commodities into an expansive array of products serving the food, feed, fuel, and industrial and consumer products sectors. The Company offers a broad portfolio of food and beverage products, from staple foods to innovative alternatives, such as natural colors and flavors, plant-based proteins, and lower-sugar, fat, and salt solutions. ADM provides human and animal nutrition ingredients and solutions that support health, productivity, and sustainability. It offers a wide range of health and well-being products, such as probiotics, enzymes, and supplements to meet the needs of consumers looking for new ways to live healthier lives. ADM is a key producer of biofuels, converting agricultural feedstocks into renewable fuels used in transportation and industrial applications. ADM is a cutting-edge innovator, investing in research, application development, and process improvement to deliver value-added products, enhance supply chain efficiency, and advance sustainable agricultural and nutrition solutions. It continues to develop a broad range of new bio-based consumer and industrial solutions as well as advance and scale its carbon capture and sequestration capabilities and other initiatives. ADM is a leader in business-driven sustainability efforts that support a strong agricultural sector, resilient supply chains, and a vast and growing bioeconomy. Around the globe, ADM's expertise and innovation are meeting critical needs from harvest to home.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.96B | $24.37B | $25.69B | $27.61B | $85.25B | $64.36B | $64.66B | $64.34B | $60.83B | $62.35B |
| Cost of revenue | $75.24B | $79.75B | $86.42B | $93.99B | $79.26B | $59.90B | $60.51B | $60.16B | $57.31B | $58.73B |
| Gross profit | $5.03B | $5.78B | $7.51B | $7.57B | $5.99B | $4.45B | $4.15B | $4.18B | $3.52B | $3.62B |
| R&D | $246.0M | $269.0M | $256.0M | $216.0M | $171.0M | $160.0M | $154.0M | $141.0M | $129.0M | $123.0M |
| SG&A | $3.61B | $3.71B | $3.46B | $3.36B | $2.99B | $2.69B | $2.49B | $2.17B | $1.98B | $1.98B |
| Interest expense | $612.0M | $706.0M | $647.0M | $396.0M | $265.0M | $339.0M | $402.0M | $364.0M | $330.0M | $293.0M |
| Pre-tax income | $1.25B | $2.25B | $4.29B | $5.23B | $3.31B | $1.88B | $1.59B | $2.06B | $1.61B | $1.82B |
| Income tax | $182.0M | $476.0M | $828.0M | $868.0M | $578.0M | $101.0M | $209.0M | $245.0M | $7.0M | $534.0M |
| Net income | $1.08B | $1.80B | $3.48B | $4.34B | $2.71B | $1.77B | $1.38B | $1.81B | $1.59B | $1.28B |
| EPS, basic | 2.23 | 3.66 | 6.44 | 7.72 | 4.80 | 3.16 | 2.45 | 3.21 | 2.80 | 2.18 |
| EPS, diluted | 2.23 | 3.65 | 6.43 | 7.71 | 4.79 | 3.15 | 2.44 | 3.19 | 2.79 | 2.16 |
| Shares, diluted (wtd. avg.) | $484.0M | $493.0M | $542.0M | $563.0M | $566.0M | $565.0M | $565.0M | $567.0M | $572.0M | $591.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.01B | $611.0M | $1.37B | $7.03B | $7.45B | $4.65B | $2.99B | $3.84B | $1.86B | $1.56B |
| Short-term investments | — | — | — | — | — | — | — | $6.0M | $0 | — |
| Receivables | $3.02B | $3.71B | $4.23B | $4.93B | $3.31B | $2.79B | $2.27B | $2.23B | $1.95B | $1.91B |
| Inventory | $10.37B | $11.57B | $11.96B | $14.77B | $14.48B | $11.71B | $9.17B | $8.81B | $9.17B | $8.83B |
| Total current assets | $26.66B | $27.72B | $29.77B | $35.41B | $31.91B | $27.29B | $21.35B | $20.59B | $19.93B | $21.05B |
| Property, plant and equipment | $11.18B | $10.84B | $10.51B | $9.93B | $9.80B | $9.78B | $10.11B | $9.95B | $10.14B | $9.76B |
| Goodwill | $4.77B | $4.51B | $4.10B | $4.16B | $4.18B | $3.45B | $3.38B | $2.50B | $2.37B | $2.25B |
| Other intangibles | $1.98B | $2.26B | $2.24B | $2.38B | $2.56B | $2.13B | $2.09B | $1.54B | $1.54B | $1.46B |
| Total assets | $52.39B | $53.27B | $54.63B | $59.77B | $56.14B | $49.72B | $44.00B | $40.83B | $39.96B | $39.77B |
| Accounts payable | $5.20B | $5.54B | $6.31B | $7.80B | $6.39B | $4.47B | $3.75B | $3.54B | $3.89B | $3.61B |
| Short-term debt | $1.01B | $674.0M | $1.0M | $942.0M | $570.0M | $2.0M | $7.0M | $582.0M | $13.0M | $273.0M |
| Total current liabilities | $19.53B | $19.94B | $18.66B | $24.19B | $21.95B | $18.18B | $13.73B | $11.78B | $12.57B | $13.17B |
| Long-term debt | $6.61B | $7.58B | $8.26B | $7.74B | $8.01B | $7.88B | $7.67B | $7.70B | $6.62B | $6.50B |
| Retained earnings | $21.98B | $21.93B | $23.46B | $23.65B | $21.66B | $19.78B | $18.96B | $18.53B | $17.55B | $17.44B |
| Total equity | $22.74B | $22.18B | $24.14B | $24.32B | $22.51B | $20.02B | $19.23B | $19.00B | $18.32B | $17.18B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.45B | $2.79B | $4.46B | $3.48B | $6.59B | -$2.39B | -$5.45B | -$4.78B | -$5.97B | -$6.51B |
| Depreciation and amortisation | $1.18B | $1.14B | $1.06B | $1.03B | $996.0M | $976.0M | $993.0M | $941.0M | $924.0M | $900.0M |
| Stock-based compensation | $83.0M | $74.0M | $112.0M | $147.0M | $161.0M | $151.0M | $89.0M | $109.0M | $66.0M | $74.0M |
| Capital expenditure | $1.25B | $1.56B | $1.49B | $1.32B | $1.17B | $823.0M | $828.0M | $842.0M | $1.05B | $882.0M |
| Investing cash flow | -$1.02B | -$2.70B | -$1.50B | -$1.40B | -$2.67B | $4.46B | $5.26B | $6.58B | $7.29B | $6.85B |
| Financing cash flow | -$2.89B | -$1.53B | -$4.60B | -$2.50B | -$1.12B | -$423.0M | -$660.0M | $187.0M | -$1.03B | -$579.0M |
| Dividends paid | $987.0M | $985.0M | $977.0M | $899.0M | $834.0M | $809.0M | $789.0M | $758.0M | $730.0M | $701.0M |
| Buybacks | $0 | $2.33B | $2.67B | $1.45B | $0 | $133.0M | $150.0M | $77.0M | $750.0M | $1.00B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000007084-26-000011.
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