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Archer-Daniels-Midland Company (ADM) 10-Year Financial Performance & Capital Metrics

ADM • • Industrial / General
Consumer DefensiveFarm ProductsAgricultural Commodity Processing & TradingGlobal Grain & Oilseed Processors
AboutArcher-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 internationally. The company operates through three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. It procures, stores, cleans, and transports agricultural raw materials, such as oilseeds, corn, wheat, milo, oats, and barley. The company also engages in the agricultural commodity and feed product import, export, and distribution; and structured trade finance activities. In addition, it offers vegetable oils and protein meals; ingredients for the food, feed, energy, and industrial customers; crude vegetable oils, salad oils, margarine, shortening, and other food products; and partially refined oils to produce biodiesel and glycols for use in chemicals, paints, and other industrial products. Further, the company provides peanuts, peanut-derived ingredients, and cotton cellulose pulp; sweeteners, corn and wheat starches, syrup, glucose, wheat flour, and dextrose; alcohol and other food and animal feed ingredients; ethyl alcohol and ethanol; corn gluten feed and meal; distillers' grains; and citric acids. Additionally, the company provides natural flavors, flavor systems, natural colors, proteins, emulsifiers, soluble fiber, polyols, hydrocolloids, and natural health and nutrition products, including probiotics, prebiotics, enzymes, and botanical extracts; and other specialty food and feed ingredients; edible beans; formula feeds, and animal health and nutrition products; and contract and private label pet treats and foods. It also offers futures commission merchant; commodity brokerage services; cash margins and securities pledged to commodity exchange clearinghouses; and cash pledged as security under certain insurance arrangements. The company was founded in 1902 and is headquartered in Chicago, Illinois.Show more
  • Revenue $85.53B -8.9%
  • EBITDA $3.21B -37.2%
  • Net Income $1.8B -48.3%
  • EPS (Diluted) 3.65 -43.2%
  • Gross Margin 6.76% -15.5%
  • EBITDA Margin 3.76% -31.0%
  • Operating Margin 2.42% -43.9%
  • Net Margin 2.1% -43.2%
  • ROE 7.68% -45.9%
  • ROIC 4.71% -48.5%
  • Debt/Equity 0.51 +31.1%
  • Interest Coverage 2.93 -52.8%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Dividend Aristocrat: 30 years of consecutive increases
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Healthy dividend yield of 3.0%
  • ✓Share count reduced 9.0% through buybacks
  • ✓Trading near 52-week high
  • ✓Trading at only 1.5x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.52%
5Y5.76%
3Y0.11%
TTM-4.34%

Profit (Net Income) CAGR

10Y-2.2%
5Y5.47%
3Y-12.74%
TTM-33.87%

EPS CAGR

10Y0.62%
5Y8.39%
3Y-8.66%
TTM-29.95%

ROCE

10Y Avg7.6%
5Y Avg8.84%
3Y Avg9.8%
Latest5.98%

Peer Comparison

Global Grain & Oilseed Processors
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ADMArcher-Daniels-Midland Company31.99B66.5718.24-8.95%1.43%5.23%3.84%0.51
BGBunge Global S.A.21.04B108.8313.62-10.8%2.2%7.65%2.49%0.65
CHSCLCHS Inc.25.60-9.68%1.75%5.48%0.29

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+67.7B62.35B60.83B64.34B64.66B64.36B85.25B101.56B93.94B85.53B
Revenue Growth %-0.17%-0.08%-0.02%0.06%0%-0%0.32%0.19%-0.08%-0.09%
Cost of Goods Sold+63.74B58.73B57.31B60.16B60.51B59.9B79.26B93.99B86.42B79.75B
COGS % of Revenue0.94%0.94%0.94%0.94%0.94%0.93%0.93%0.93%0.92%0.93%
Gross Profit+3.97B3.62B3.52B4.18B4.15B4.45B5.99B7.57B7.51B5.78B
Gross Margin %0.06%0.06%0.06%0.06%0.06%0.07%0.07%0.07%0.08%0.07%
Gross Profit Growth %-0.17%-0.09%-0.03%0.19%-0.01%0.07%0.34%0.26%-0.01%-0.23%
Operating Expenses+1.99B1.98B1.98B2.17B2.49B2.69B2.99B3.36B3.46B3.71B
OpEx % of Revenue0.03%0.03%0.03%0.03%0.04%0.04%0.04%0.03%0.04%0.04%
Selling, General & Admin1.99B1.98B1.98B2.17B2.49B2.69B2.99B3.36B3.46B3.71B
SG&A % of Revenue0.03%0.03%0.03%0.03%0.04%0.04%0.04%0.03%0.04%0.04%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses0000000000
Operating Income+1.98B1.64B1.54B2.02B1.65B1.77B2.99B4.21B4.06B2.07B
Operating Margin %0.03%0.03%0.03%0.03%0.03%0.03%0.04%0.04%0.04%0.02%
Operating Income Growth %-0.3%-0.17%-0.06%0.31%-0.18%0.07%0.69%0.41%-0.04%-0.49%
EBITDA+2.86B2.54B2.46B2.96B2.65B2.74B3.99B5.24B5.12B3.21B
EBITDA Margin %0.04%0.04%0.04%0.05%0.04%0.04%0.05%0.05%0.05%0.04%
EBITDA Growth %-0.23%-0.11%-0.03%0.2%-0.1%0.04%0.45%0.31%-0.02%-0.37%
D&A (Non-Cash Add-back)882M900M924M941M993M976M996M1.03B1.06B1.14B
EBIT2.59B2.12B1.94B2.42B1.99B2.22B3.58B5.63B4.94B2.96B
Net Interest Income+-238M-199M-225M-203M-211M-232M-188M-112M-154M-144M
Interest Income71M92M106M162M192M88M96M293M499M562M
Interest Expense309M291M331M365M403M320M284M405M653M706M
Other Income/Expense303M185M69M44M-66M117M320M1.02B237M183M
Pretax Income+2.28B1.82B1.61B2.06B1.59B1.88B3.31B5.23B4.29B2.25B
Pretax Margin %0.03%0.03%0.03%0.03%0.02%0.03%0.04%0.05%0.05%0.03%
Income Tax+438M534M7M245M209M101M578M868M828M476M
Effective Tax Rate %0.81%0.7%0.99%0.88%0.87%0.94%0.82%0.83%0.81%0.8%
Net Income+1.85B1.28B1.59B1.81B1.38B1.77B2.71B4.34B3.48B1.8B
Net Margin %0.03%0.02%0.03%0.03%0.02%0.03%0.03%0.04%0.04%0.02%
Net Income Growth %-0.18%-0.31%0.25%0.13%-0.24%0.28%0.53%0.6%-0.2%-0.48%
Net Income (Continuing)1.85B1.29B1.6B1.81B1.38B1.78B2.73B4.37B3.47B1.78B
Discontinued Operations0000000000
Minority Interest16M32M62M64M75M96M290M332M333M263M
EPS (Diluted)+2.982.162.793.192.443.154.797.716.433.65
EPS Growth %-0.13%-0.28%0.29%0.14%-0.24%0.29%0.52%0.61%-0.17%-0.43%
EPS (Basic)2.992.182.803.212.453.164.807.726.443.66
Diluted Shares Outstanding621M591M572M567M565M563M566M563M542M493M
Basic Shares Outstanding618M588M569M564M563M561M564M562M541M478M
Dividend Payout Ratio0.37%0.55%0.46%0.42%0.57%0.46%0.31%0.21%0.28%0.55%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+21.83B21.05B19.93B20.59B21.35B27.29B31.91B35.41B29.77B27.72B
Cash & Short-Term Investments1.35B915M804M2B852M666M943M1.04B1.37B857M
Cash Only910M619M804M2B852M666M943M1.04B1.37B611M
Short-Term Investments438M296M0000000246M
Accounts Receivable4.66B4.41B3.76B3.84B5.21B4.98B5.77B7.57B6.5B5.95B
Days Sales Outstanding25.1225.7922.5721.8129.3928.2724.7127.225.2425.39
Inventory8.24B8.83B9.17B8.81B9.17B11.71B14.48B14.77B11.96B11.57B
Days Inventory Outstanding47.2154.8958.4253.4755.3171.3766.6857.3650.552.96
Other Current Assets7.17B6.63B5.95B5.75B5.8B9.63B10.34B11.59B9.5B9.06B
Total Non-Current Assets+18.33B18.72B20.04B20.25B22.65B22.43B24.23B24.36B24.86B25.55B
Property, Plant & Equipment9.85B9.76B10.14B9.95B11.08B10.88B10.83B11.02B11.72B12.2B
Fixed Asset Turnover6.87x6.39x6.00x6.46x5.84x5.91x7.87x9.21x8.02x7.01x
Goodwill2.19B2.25B2.37B2.5B3.38B3.45B4.18B4.16B4.1B4.51B
Intangible Assets1.5B1.46B1.54B1.54B2.09B2.13B2.56B2.38B2.24B2.26B
Long-Term Investments4.34B4.68B5.18B5.32B5.13B4.91B5.29B5.47B5.5B5.28B
Other Non-Current Assets447M579M802M934M965M1.05B1.37B1.33B1.3B1.31B
Total Assets+40.16B39.77B39.96B40.83B44B49.72B56.14B59.77B54.63B53.27B
Asset Turnover1.69x1.57x1.52x1.58x1.47x1.29x1.52x1.70x1.72x1.61x
Asset Growth %-0.09%-0.01%0%0.02%0.08%0.13%0.13%0.06%-0.09%-0.02%
Total Current Liabilities+13.51B13.17B12.57B11.78B13.73B18.18B21.95B24.19B18.66B19.94B
Accounts Payable3.47B3.61B3.89B3.54B3.75B4.47B6.39B7.8B6.31B5.54B
Days Payables Outstanding19.8922.4124.821.5122.627.2629.4230.326.6625.33
Short-Term Debt98M427M870M690M1.21B2.04B1.53B1.45B106M2.58B
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities605M651M699M1.1B1.04B2.98B2.4B2.02B1.54B1.32B
Current Ratio1.62x1.60x1.59x1.75x1.55x1.50x1.45x1.46x1.60x1.39x
Quick Ratio1.01x0.93x0.86x1.00x0.89x0.86x0.79x0.85x0.95x0.81x
Cash Conversion Cycle52.4358.2656.253.7762.1172.3861.9854.2649.0853.02
Total Non-Current Liabilities+8.74B9.39B9.02B10.01B10.98B11.44B11.42B10.97B11.5B10.9B
Long-Term Debt5.78B6.5B6.62B7.7B7.67B7.88B8.01B7.74B8.26B7.58B
Capital Lease Obligations0000781M863M765M816M931M1.06B
Deferred Tax Liabilities1.56B1.67B1.05B1.07B1.19B1.3B1.41B1.4B1.31B1.27B
Other Non-Current Liabilities1.4B1.22B1.34B1.25B1.33B1.39B1.23B1.01B1B997M
Total Liabilities22.24B22.56B21.59B21.79B24.71B29.62B33.37B35.16B30.17B30.84B
Total Debt+5.88B6.93B7.49B8.39B9.88B11.05B10.58B10.29B9.6B11.54B
Net Debt4.97B6.31B6.69B6.39B9.03B10.39B9.64B9.25B8.23B10.93B
Debt / Equity0.33x0.40x0.41x0.44x0.51x0.55x0.46x0.42x0.39x0.51x
Debt / EBITDA2.05x2.73x3.04x2.84x3.73x4.03x2.65x1.96x1.88x3.59x
Net Debt / EBITDA1.73x2.49x2.71x2.16x3.41x3.79x2.42x1.77x1.61x3.40x
Interest Coverage6.41x5.63x4.65x5.52x4.10x5.52x10.54x10.40x6.21x2.93x
Total Equity+17.91B17.2B18.38B19.05B19.28B20.1B22.77B24.62B24.46B22.43B
Equity Growth %-0.09%-0.04%0.07%0.04%0.01%0.04%0.13%0.08%-0.01%-0.08%
Book Value per Share28.8529.1132.1233.5934.1335.6940.2243.7245.1445.50
Total Shareholders' Equity17.9B17.17B18.31B18.98B19.21B20B22.48B24.28B24.13B22.17B
Common Stock3.18B2.33B2.4B2.56B2.65B2.82B2.99B3.15B3.15B3.22B
Retained Earnings16.86B17.44B17.55B18.53B18.96B19.78B21.66B23.65B23.46B21.93B
Treasury Stock0000000000
Accumulated OCI-2.15B-2.6B-1.64B-2.11B-2.4B-2.6B-2.17B-2.51B-2.49B-2.99B
Minority Interest16M32M62M64M75M96M290M332M333M263M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+2.29B1.48B2.21B-4.78B-5.45B-2.39B6.59B3.48B4.46B2.79B
Operating CF Margin %0.03%0.02%0.04%-0.07%-0.08%-0.04%0.08%0.03%0.05%0.03%
Operating CF Growth %-0.55%-0.36%0.5%-3.16%-0.14%0.56%3.76%-0.47%0.28%-0.37%
Net Income1.85B1.29B1.6B1.81B1.38B1.78B2.73B4.37B3.48B1.78B
Depreciation & Amortization882M900M924M941M993M976M996M1.03B1.06B1.14B
Stock-Based Compensation79M74M66M109M89M151M161M147M112M74M
Deferred Taxes-7M56M-714M-47M21M75M-129M-89M-23M-130M
Other Non-Cash Items-757M-258M17M-146M-196M145M178M-184M96M418M
Working Capital Changes249M-585M316M-7.46B-7.74B-5.51B2.65B-1.79B-267M-492M
Change in Receivables913M-160M73M-376M287M-149M-578M-1.68B737M447M
Change in Inventory872M-654M-137M226M-21M-2.43B-2.84B-295M2.89B162M
Change in Payables-774M161M181M-300M-64M694M1.92B1.39B-1.54B-719M
Cash from Investing+-21M-1.21B-886M6.58B5.26B4.46B-2.67B-1.4B-1.5B-2.7B
Capital Expenditures-1.13B-882M-1.05B-842M-828M-823M-1.17B-1.32B-1.49B-1.56B
CapEx % of Revenue0.02%0.01%0.02%0.01%0.01%0.01%0.01%0.01%0.02%0.02%
Acquisitions----------
Investments----------
Other Investing867M749M246M3M-5M-27M-114M42M-2M12M
Cash from Financing+-2.65B-579M-1.03B187M-660M-423M-1.12B-2.5B-4.6B-1.53B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-687M-701M-730M-758M-789M-809M-834M-899M-977M-985M
Share Repurchases----------
Other Financing-162M34M70M33M-22M27M6M8M-102M-44M
Net Change in Cash----------
Free Cash Flow+1.17B593M1.16B-5.63B-6.28B-3.21B5.43B2.16B2.97B1.23B
FCF Margin %0.02%0.01%0.02%-0.09%-0.1%-0.05%0.06%0.02%0.03%0.01%
FCF Growth %-0.72%-0.49%0.96%-5.84%-0.12%0.49%2.69%-0.6%0.37%-0.59%
FCF per Share1.881.002.03-9.92-11.12-5.709.593.835.472.49
FCF Conversion (FCF/Net Income)1.24x1.15x1.39x-2.64x-3.95x-1.35x2.43x0.80x1.28x1.55x
Interest Paid334M283M321M351M388M345M276M409M711M710M
Taxes Paid602M398M538M376M268M195M553M708M742M658M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)9.85%7.28%8.97%9.67%7.2%9%12.64%18.32%14.19%7.68%
Return on Invested Capital (ROIC)6.31%5.29%4.75%5.99%4.62%4.51%7.14%9.53%9.14%4.71%
Gross Margin5.86%5.8%5.78%6.5%6.41%6.92%7.02%7.45%8%6.76%
Net Margin2.73%2.05%2.62%2.81%2.13%2.75%3.18%4.27%3.71%2.1%
Debt / Equity0.33x0.40x0.41x0.44x0.51x0.55x0.46x0.42x0.39x0.51x
Interest Coverage6.41x5.63x4.65x5.52x4.10x5.52x10.54x10.40x6.21x2.93x
FCF Conversion1.24x1.15x1.39x-2.64x-3.95x-1.35x2.43x0.80x1.28x1.55x
Revenue Growth-16.62%-7.91%-2.43%5.78%0.49%-0.47%32.47%19.13%-7.5%-8.95%

Revenue by Segment

2015201620172018201920202021202220232024
Ag Services and Oilseeds----54.63B55.67B70.45B83.69B77.46B66.52B
Ag Services and Oilseeds Growth-----1.89%26.57%18.78%-7.44%-14.13%
Carbohydrate Solutions---11.42B11.15B9.42B12.67B16.34B14.54B11.23B
Carbohydrate Solutions Growth-----2.34%-15.52%34.48%28.91%-11.00%-22.73%
Nutrition---3.83B5.79B5.96B6.93B7.84B7.47B7.35B
Nutrition Growth----50.87%2.99%16.35%13.02%-4.72%-1.57%
Others634M585M387M381M352M367M380M396M424M-
Others Growth--7.73%-33.85%-1.55%-7.61%4.26%3.54%4.21%7.07%-

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES31.83B29.42B27.89B28.73B27.51B25.99B35.4B43.27B38.78B33.55B
UNITED STATES Growth--7.57%-5.18%2.98%-4.24%-5.54%36.21%22.25%-10.37%-13.49%
SWITZERLAND11.68B13.41B14.1B12.91B13.02B13.82B18.45B21.82B19.9B19.88B
SWITZERLAND Growth-14.83%5.08%-8.40%0.81%6.17%33.53%18.25%-8.81%-0.11%
Other Foreign20.76B13.56B12.56B14.8B15.35B14.01B17.89B18.36B16.44B15.7B
Other Foreign Growth--34.69%-7.35%17.84%3.71%-8.72%27.68%2.65%-10.46%-4.54%
CAYMAN ISLANDS-3.62B4.19B5.72B4.37B3.96B5.51B5.88B7.65B5.6B
CAYMAN ISLANDS Growth--15.81%36.64%-23.58%-9.51%39.34%6.67%29.97%-26.72%
BRAZIL----2.38B2.36B3.21B4B3.36B3.35B
BRAZIL Growth------1.01%36.32%24.62%-16.06%-0.24%
MEXICO-----2.24B2.93B3.71B3.19B3.21B
MEXICO Growth------30.75%26.41%-14.13%0.75%
UNITED KINGDOM------1.85B2.23B2.22B2.19B
UNITED KINGDOM Growth-------20.73%-0.54%-1.49%
CANADA-------2.27B2.4B2.06B
CANADA Growth--------5.63%-14.37%
GERMANY3.44B2.34B2.09B2.18B2.03B1.98B----
GERMANY Growth--31.87%-10.72%4.26%-7.02%-2.32%----

Frequently Asked Questions

Valuation & Price

Archer-Daniels-Midland Company (ADM) has a price-to-earnings (P/E) ratio of 18.2x. This is roughly in line with market averages.

Growth & Financials

Archer-Daniels-Midland Company (ADM) reported $83.23B in revenue for fiscal year 2024. This represents a 7% decrease from $89.04B in 2011.

Archer-Daniels-Midland Company (ADM) saw revenue decline by 8.9% over the past year.

Yes, Archer-Daniels-Midland Company (ADM) is profitable, generating $1.19B in net income for fiscal year 2024 (2.1% net margin).

Dividend & Returns

Yes, Archer-Daniels-Midland Company (ADM) pays a dividend with a yield of 3.00%. This makes it attractive for income-focused investors.

Archer-Daniels-Midland Company (ADM) has a return on equity (ROE) of 7.7%. This is below average, suggesting room for improvement.

Archer-Daniels-Midland Company (ADM) generated $4.70B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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