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Stocks · Consumer staples · Fats & Oils

Archer Daniels Midland

ADM Clue Score40
United States Fiscal year ends December CIK 0000007084
$79.89 -3.10% Close, 9 Oct 2026
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Price $79.89 +24.89% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2016Revenue62.35Net income1.28EPS, diluted2.16Fiscal year 2017Revenue60.83 −2.4%Net income1.60 +24.7%EPS, diluted2.79 +29.2%Fiscal year 2018Revenue64.34 +5.8%Net income1.81 +13.5%EPS, diluted3.19 +14.3%Fiscal year 2019Revenue64.66 +0.5%Net income1.38 −23.8%EPS, diluted2.44 −23.5%Fiscal year 2020Revenue64.36 −0.5%Net income1.77 +28.5%EPS, diluted3.15 +29.1%Fiscal year 2021Revenue85.25 +32.5%Net income2.71 +52.9%EPS, diluted4.79 +52.1%Fiscal year 2022Revenue27.61 −67.6%Net income4.34 +60.2%EPS, diluted7.71 +61.0%Fiscal year 2023Revenue25.69 −6.9%Net income3.48 −19.7%EPS, diluted6.43 −16.6%Fiscal year 2024Revenue24.37 −5.1%Net income1.80 −48.3%EPS, diluted3.65 −43.2%Fiscal year 2025Revenue24.96 +2.4%Net income1.08 −40.1%EPS, diluted2.23 −38.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 62.35 60.83 64.34 64.66 64.36 85.25 27.61 25.69 24.37 24.96
Growth −2.4% +5.8% +0.5% −0.5% +32.5% −67.6% −6.9% −5.1% +2.4%
Net income 1.28 1.60 1.81 1.38 1.77 2.71 4.34 3.48 1.80 1.08
Growth +24.7% +13.5% −23.8% +28.5% +52.9% +60.2% −19.7% −48.3% −40.1%
EPS, diluted 2.16 2.79 3.19 2.44 3.15 4.79 7.71 6.43 3.65 2.23
Growth +29.2% +14.3% −23.5% +29.1% +52.1% +61.0% −16.6% −43.2% −38.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginNet margin
Fiscal year 2016Gross margin5.8%Net margin2.1%Free cash flow margin−11.9%Fiscal year 2017Gross margin5.8%Net margin2.6%Free cash flow margin−11.5%Fiscal year 2018Gross margin6.5%Net margin2.8%Free cash flow margin−8.7%Fiscal year 2019Gross margin6.4%Net margin2.1%Free cash flow margin−9.7%Fiscal year 2020Gross margin6.9%Net margin2.8%Free cash flow margin−5.0%Fiscal year 2021Gross margin7.0%Net margin3.2%Free cash flow margin6.4%Fiscal year 2022Gross margin27.4%Net margin15.7%Free cash flow margin7.8%Fiscal year 2023Gross margin29.2%Net margin13.6%Free cash flow margin11.5%Fiscal year 2024Gross margin23.7%Net margin7.4%Free cash flow margin5.0%Fiscal year 2025Gross margin20.2%Net margin4.3%Free cash flow margin16.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 5.8% 5.8% 6.5% 6.4% 6.9% 7.0% 27.4% 29.2% 23.7% 20.2%
Net margin 2.1% 2.6% 2.8% 2.1% 2.8% 3.2% 15.7% 13.6% 7.4% 4.3%
Free cash flow margin −11.9% −11.5% −8.7% −9.7% −5.0% 6.4% 7.8% 11.5% 5.0% 16.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−6.51Capital expenditure−0.88Free cash flow−7.39Buybacks−1.00Dividends paid−0.70Fiscal year 2017Operating cash flow−5.97Capital expenditure−1.05Free cash flow−7.02Buybacks−0.75Dividends paid−0.73Fiscal year 2018Operating cash flow−4.78Capital expenditure−0.84Free cash flow−5.63Buybacks−0.08Dividends paid−0.76Fiscal year 2019Operating cash flow−5.45Capital expenditure−0.83Free cash flow−6.28Buybacks−0.15Dividends paid−0.79Fiscal year 2020Operating cash flow−2.39Capital expenditure−0.82Free cash flow−3.21Buybacks−0.13Dividends paid−0.81Fiscal year 2021Operating cash flow6.60Capital expenditure−1.17Free cash flow5.43Buybacks0.00Dividends paid−0.83Fiscal year 2022Operating cash flow3.48Capital expenditure−1.32Free cash flow2.16 −60.2%Buybacks−1.45Dividends paid−0.90Fiscal year 2023Operating cash flow4.46Capital expenditure−1.49Free cash flow2.97 +37.4%Buybacks−2.67Dividends paid−0.98Fiscal year 2024Operating cash flow2.79Capital expenditure−1.56Free cash flow1.23 −58.6%Buybacks−2.33Dividends paid−0.99Fiscal year 2025Operating cash flow5.45Capital expenditure−1.25Free cash flow4.20 +242.6%Buybacks0.00Dividends paid−0.99
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −6.51 −5.97 −4.78 −5.45 −2.39 6.60 3.48 4.46 2.79 5.45
Capital expenditure −0.88 −1.05 −0.84 −0.83 −0.82 −1.17 −1.32 −1.49 −1.56 −1.25
Free cash flow −7.39 −7.02 −5.63 −6.28 −3.21 5.43 2.16 2.97 1.23 4.20
Growth −60.2% +37.4% −58.6% +242.6%
Buybacks −1.00 −0.75 −0.08 −0.15 −0.13 0.00 −1.45 −2.67 −2.33 0.00
Dividends paid −0.70 −0.73 −0.76 −0.79 −0.81 −0.83 −0.90 −0.98 −0.99 −0.99

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.62Total debt6.78Net cash (debt)−6.16Shareholders’ equity17.18Debt to equity0.39Fiscal year 2017Cash0.80Total debt6.64Net cash (debt)−5.83Shareholders’ equity18.32Debt to equity0.36Fiscal year 2018Cash2.00Total debt8.28Net cash (debt)−6.28Shareholders’ equity19.00Debt to equity0.44Fiscal year 2019Cash0.85Total debt7.68Net cash (debt)−6.83Shareholders’ equity19.23Debt to equity0.40Fiscal year 2020Cash0.67Total debt7.89Net cash (debt)−7.22Shareholders’ equity20.02Debt to equity0.39Fiscal year 2021Cash0.94Total debt8.58Net cash (debt)−7.64Shareholders’ equity22.51Debt to equity0.38Fiscal year 2022Cash1.04Total debt8.68Net cash (debt)−7.64Shareholders’ equity24.32Debt to equity0.36Fiscal year 2023Cash1.37Total debt8.26Net cash (debt)−6.89Shareholders’ equity24.15Debt to equity0.34Fiscal year 2024Cash0.61Total debt8.25Net cash (debt)−7.64Shareholders’ equity22.18Debt to equity0.37Fiscal year 2025Cash1.02Total debt7.61Net cash (debt)−6.60Shareholders’ equity22.74Debt to equity0.33
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.62 0.80 2.00 0.85 0.67 0.94 1.04 1.37 0.61 1.02
Total debt 6.78 6.64 8.28 7.68 7.89 8.58 8.68 8.26 8.25 7.61
Net cash (debt) −6.16 −5.83 −6.28 −6.83 −7.22 −7.64 −7.64 −6.89 −7.64 −6.60
Shareholders’ equity 17.18 18.32 19.00 19.23 20.02 22.51 24.32 24.15 22.18 22.74
Debt to equity 0.39 0.36 0.44 0.40 0.39 0.38 0.36 0.34 0.37 0.33

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
62.35 60.83 64.34 64.66 64.36 85.25 27.61 25.69 24.37 24.96
Growth −2.4% +5.8% +0.5% −0.5% +32.5% −67.6% −6.9% −5.1% +2.4%
58.73 57.31 60.16 60.51 59.90 79.26 93.99 86.42 79.75 75.24
3.62 3.52 4.18 4.15 4.45 5.99 7.57 7.51 5.78 5.03
Growth −2.8% +18.8% −0.8% +7.4% +34.4% +26.4% −0.8% −23.1% −12.9%
0.12 0.13 0.14 0.15 0.16 0.17 0.22 0.26 0.27 0.25
1.98 1.98 2.17 2.49 2.69 2.99 3.36 3.46 3.71 3.61
1.82 1.61 2.06 1.59 1.88 3.31 5.23 4.29 2.26 1.26
0.53 0.01 0.25 0.21 0.10 0.58 0.87 0.83 0.48 0.18
1.28 1.60 1.81 1.38 1.77 2.71 4.34 3.48 1.80 1.08
Growth +24.7% +13.5% −23.8% +28.5% +52.9% +60.2% −19.7% −48.3% −40.1%
Per share
2.18 2.80 3.21 2.45 3.16 4.80 7.72 6.44 3.66 2.23
2.16 2.79 3.19 2.44 3.15 4.79 7.71 6.43 3.65 2.23
Growth +29.2% +14.3% −23.5% +29.1% +52.1% +61.0% −16.6% −43.2% −38.9%
588.0 569.0 564.0 563.0 561.0 564.0 562.0 541.0 492.0 484.0
591.0 572.0 567.0 565.0 565.0 566.0 563.0 542.0 493.0 484.0
Growth −3.2% −0.9% −0.4% +0.0% +0.2% −0.5% −3.7% −9.0% −1.8%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 17.3% a year over five years, and earnings per share fell 6.7% a year.
  • The diluted share count fell 14.3% in five years, so buybacks did some of the work per share.
  • Gross margin is up 13.2 points on five years ago, at 20.2%.
  • Profitable in every one of the 10 years on file.