ADM

MKT CAP:$33B

Archer-Daniels-Midland Company

Market Cap

$33B

Consumer Defensive·Agricultural Farm Products·🇺🇸 United States·NYSE

Consumer Def.·Agricultural·🇺🇸·NYSE

Stock Price

$68.73+$9.68 (+16.39%)

Apr 24, 2026

Company Details

Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, Cayman Islands, Brazil, Mexico, the United Kingdom, and internat...

CEO

Juan Ricardo Luciano

IPO Date

Mar 17, 1980

Website

www.adm.com

Key Metrics TTM

Revenue

$82.2B

-10.3% YoY

Net Income

$1.5B

EPS (Diluted)

$3.13

Free Cash Flow

$188M

Revenue / Share

$169.92

Gross Margin

6.5%

Operating Margin

2.0%

Net Margin

1.9%

FCF Margin

0.2%

P/S

0.4x

P/E

21.7x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 17, 2026

$80.3BEPS $2.23

Q4 2025

Feb 17, 2026

$18.6B-13.7%EPS $0.94

Q4 2024

Feb 20, 2025

$21.5B-6.4%EPS $1.17

Q3 2024

Nov 18, 2024

$19.9B-8.1%EPS $0.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 19	$15.3B	$928M	$269M
Q3 19	$16.7B	$1.1B	$500M
Q1 20	$15.0B	$951M	$287M
Q3 20	$15.1B	$1.0B	$406M
Q2 21	$22.9B	$1.5B	$724M
Q2 22	$27.3B	$2.1B	$1.3B
Q4 22	$25.9B	$1.8B	$865M
Q1 23	$24.1B	$2.1B	$1.2B
Q2 23	$25.2B	$1.9B	$1.0B
Q3 23	$21.7B	$1.8B	$995M
Q4 23	$23.0B	$1.7B	$821M
Q1 24	$21.8B	$1.7B	$708M
Q2 24	$22.2B	$1.4B	$489M
Q3 24	$19.9B	$1.4B	$460M
Q4 24	$21.5B	$1.4B	$415M
Q4 25	$18.6B	$1.2B	$320M

Valuation

Quarter	P/S	P/E
Q1 19	0.4x	15.0x
Q3 19	0.4x	13.1x
Q1 20	0.3x	12.9x
Q3 20	0.4x	20.8x
Q2 21	0.5x	19.8x
Q2 22	0.5x	16.8x
Q4 22	0.5x	14.7x
Q1 23	0.4x	10.6x
Q2 23	0.4x	9.5x
Q3 23	0.4x	9.8x
Q4 23	0.4x	10.2x
Q1 24	0.3x	10.2x
Q2 24	0.3x	11.2x
Q3 24	0.3x	15.9x
Q4 24	0.3x	13.3x
Q4 25	0.3x	18.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 19	-$2.0B	-$2.2B
Q3 19	-$926M	-$1.1B
Q1 20	-$655M	-$849M
Q3 20	-$1.1B	-$1.3B
Q2 21	$2.7B	$2.5B
Q2 22	$531M	$248M
Q4 22	$130M	-$348M
Q1 23	-$1.6B	-$1.9B
Q2 23	$2.5B	$2.2B
Q3 23	$992M	$551M
Q4 23	$2.6B	$2.1B
Q1 24	$700M	$372M
Q2 24	$470M	$108M
Q3 24	$1.3B	$919M
Q4 24	$322M	-$170M
Q4 25	-$313M	-$669M

Capital Expenditures

Quarter	CapEx
Q1 19	$198M
Q3 19	$183M
Q1 20	$194M
Q3 20	$198M
Q2 21	$253M
Q2 22	$283M
Q4 22	$478M
Q1 23	$327M
Q2 23	$287M
Q3 23	$441M
Q4 23	$439M
Q1 24	$328M
Q2 24	$362M
Q3 24	$381M
Q4 24	$492M
Q4 25	$356M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 19	+2.1%	+2.8%
Q3 19	+11.9%	+11.3%
Q1 20	-12.3%	-10.7%
Q3 20	-4.3%	-3.6%
Q2 21	+49.8%	+47.7%
Q2 22	+63.1%	+60.2%
Q4 22	+73.3%	+70.8%
Q1 23	+59.1%	+55.4%
Q2 23	+9.9%	+8.8%
Q3 23	-20.5%	-20.4%
Q4 23	-11.4%	-11.6%
Q1 24	-9.2%	-7.6%
Q2 24	-11.7%	-9.9%
Q3 24	-8.1%	-5.9%
Q4 24	-6.4%	-4.8%
Q4 25	-15.1%	-13.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 19	$43M	0.3%
Q3 19	$21M	0.1%
Q1 20	$51M	0.3%
Q3 20	$39M	0.3%
Q2 21	$38M	0.2%
Q2 22	$28M	0.1%
Q4 22	$24M	0.1%
Q1 23	$65M	0.3%
Q2 23	$21M	0.1%
Q3 23	$12M	0.1%
Q4 23	$14M	0.1%
Q1 24	$66M	0.3%
Q2 24	$18M	0.1%
Q3 24	-$10M	-0.1%
Q4 24	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 19	$659M
Q3 19	$578M
Q1 20	$664M
Q3 20	$636M
Q2 21	$739M
Q2 22	$814M
Q4 22	$897M
Q1 23	$881M
Q2 23	$841M
Q3 23	$815M
Q4 23	$919M
Q1 24	$951M
Q2 24	$907M
Q3 24	$905M
Q4 24	$943M
Q4 25	$893M

Revenue Segments

Quarter	Ag Services and Oilseeds	Carbohydrate Solutions	Nutrition	Other Segments
Q3 19	$12.6B	$2.6B	$1.5B	$88M
Q1 20	$11.1B	$2.3B	$1.5B	$104M
Q3 20	$11.5B	$2.1B	$1.5B	$84M
Q2 21	$18.3B	$2.8B	$1.7B	$102M
Q2 22	$21.4B	$3.8B	$2.0B	$101M
Q1 23	$18.6B	$3.5B	$1.9B	$103M
Q2 23	$19.8B	$3.4B	$1.9B	$112M
Q3 23	$16.5B	$3.3B	$1.8B	$107M
Q1 24	$17.2B	$2.7B	$1.8B	$109M
Q2 24	$17.3B	$2.9B	$1.9B	—
Q3 24	$15.1B	$2.9B	$1.8B	—
Q4 24	$16.9B	$2.7B	$1.8B	—
Q4 25	$14.0B	$2.6B	$1.8B	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.1B	$0	$1.1B
Q2 22	$906M	$0	$906M
Q3 22	$1.1B	$0	$1.1B
Q4 22	$1.0B	$0	$1.0B
Q1 23	$899M	$0	$899M
Q2 23	$1.4B	$0	$1.4B
Q3 23	$1.5B	$0	$1.5B
Q4 23	$1.4B	$0	$1.4B
Q1 24	$830M	$0	$830M
Q2 24	$764M	$0	$764M
Q3 24	$784M	$0	$784M
Q4 24	$611M	$246M	$857M
Q1 25	$864M	$33M	$897M
Q2 25	$1.1B	$9M	$1.1B
Q3 25	$1.2B	$0	$1.2B
Q4 25	$1.0B	$32M	$1.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 19	566M	-0.4%	-2.2%
Q3 19	563M	-0.5%	-1.9%
Q1 20	564M	+0.2%	-0.5%
Q3 20	562M	-0.4%	-1.1%
Q2 21	566M	+0.7%	0.0%
Q2 22	568M	+0.4%	+0.9%
Q4 22	554M	-2.5%	-1.8%
Q1 23	551M	-0.5%	-2.0%
Q2 23	546M	-0.9%	-3.5%
Q3 23	540M	-1.1%	-4.9%
Q4 23	531M	-1.7%	-4.2%
Q1 24	514M	-3.2%	-6.7%
Q2 24	496M	-3.5%	-9.2%
Q3 24	483M	-2.6%	-10.6%
Q4 24	484M	+0.2%	-8.9%
Q4 25	484M	0.0%	-5.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 19	$484.3K	32K
Q3 19	$529.3K	32K
Q1 20	$392.9K	38K
Q3 20	$397.0K	38K
Q2 21	$587.8K	39K
Q2 22	$665.5K	41K
Q4 22	$617.6K	42K
Q1 23	$573.1K	42K
Q2 23	$599.8K	42K
Q3 23	$516.5K	42K
Q4 23	$549.7K	42K
Q1 24	$522.6K	42K
Q2 24	$532.2K	42K
Q3 24	$476.9K	42K
Q4 24	$488.6K	44K
Q4 25	$421.7K	44K

Revenue / Employee