Archer-Daniels-Midland Company (ADM) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 20.49B | 18.56B | 20.37B | 21.19B | 20.18B | 21.5B | 19.94B | 22.25B | 21.85B | 22.98B | 21.7B | 25.19B | 24.07B | 25.94B | 24.68B | 27.28B | 23.65B | 23.09B | 20.34B | 22.93B |
| Revenue Growth % | 1.56% | -13.69% | 2.18% | -4.76% | -7.65% | -6.44% | -8.1% | -11.68% | -9.24% | -11.42% | -12.11% | -7.67% | 1.78% | 12.34% | 21.35% | 19.01% | 25.18% | 28.43% | 34.47% | 40.81% |
| Cost of Goods Sold | 19.27B | 17.34B | 19.1B | 20.19B | 19B | 20.14B | 18.57B | 20.85B | 20.19B | 21.24B | 19.89B | 23.31B | 21.99B | 24.18B | 22.87B | 25.18B | 21.75B | 21.44B | 19.01B | 21.46B |
| COGS % of Revenue | 94.04% | 93.46% | 93.77% | 95.3% | 94.15% | 93.68% | 93.15% | 93.73% | 92.41% | 92.43% | 91.66% | 92.52% | 91.36% | 93.21% | 92.66% | 92.3% | 91.98% | 92.85% | 93.48% | 93.62% |
| Gross Profit | 1.22B | 1.21B | 1.27B | 995M | 1.18B | 1.36B | 1.36B | 1.4B | 1.66B | 1.74B | 1.81B | 1.88B | 2.08B | 1.76B | 1.81B | 2.1B | 1.9B | 1.65B | 1.33B | 1.46B |
| Gross Margin % | 5.96% | 6.54% | 6.23% | 4.7% | 5.85% | 6.32% | 6.85% | 6.27% | 7.59% | 7.57% | 8.34% | 7.48% | 8.64% | 6.79% | 7.34% | 7.7% | 8.02% | 7.15% | 6.52% | 6.38% |
| Gross Profit Growth % | 3.56% | -10.68% | -6.96% | -28.72% | -28.87% | -21.95% | -24.59% | -25.86% | -20.24% | -1.25% | -0.06% | -10.33% | 9.65% | 6.79% | 36.58% | 43.54% | 22.55% | 22.04% | 27.26% | 32.04% |
| Operating Expenses | 814M | 893M | 873M | 895M | 932M | 943M | 905M | 907M | 951M | 919M | 815M | 841M | 881M | 897M | 818M | 814M | 829M | 786M | 720M | 739M |
| OpEx % of Revenue | 3.97% | 4.81% | 4.29% | 4.22% | 4.62% | 4.39% | 4.54% | 4.08% | 4.35% | 4% | 3.76% | 3.34% | 3.66% | 3.46% | 3.31% | 2.98% | 3.51% | 3.4% | 3.54% | 3.22% |
| Selling, General & Admin | 961M | 893M | 873M | 895M | 932M | 943M | 905M | 907M | 951M | 919M | 815M | 841M | 881M | 897M | 818M | 814M | 829M | 786M | 720M | 739M |
| SG&A % of Revenue | 4.69% | 4.81% | 4.29% | 4.22% | 4.62% | 4.39% | 4.54% | 4.08% | 4.35% | 4% | 3.76% | 3.34% | 3.66% | 3.46% | 3.31% | 2.98% | 3.51% | 3.4% | 3.54% | 3.22% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 408M | 320M | 397M | 100M | 248M | 415M | 460M | 489M | 708M | 821M | 995M | 1.04B | 1.2B | 865M | 993M | 1.29B | 1.07B | 864M | 606M | 724M |
| Operating Margin % | 1.99% | 1.72% | 1.95% | 0.47% | 1.23% | 1.93% | 2.31% | 2.2% | 3.24% | 3.57% | 4.59% | 4.14% | 4.98% | 3.33% | 4.02% | 4.71% | 4.52% | 3.74% | 2.98% | 3.16% |
| Operating Income Growth % | 64.52% | -22.89% | -13.7% | -79.55% | -64.97% | -49.45% | -53.77% | -53.07% | -40.95% | -5.09% | 0.2% | -18.97% | 12.27% | 0.12% | 63.86% | 77.62% | 33.67% | 43.28% | 49.26% | 54.04% |
| EBITDA | 408M | 1.48B | 693M | 391M | 535M | 702M | 748M | 775M | 988M | 1.1B | 1.26B | 1.3B | 1.46B | 1.12B | 1.25B | 1.54B | 1.32B | 1.12B | 853M | 967M |
| EBITDA Margin % | 1.99% | 7.98% | 3.4% | 1.85% | 2.65% | 3.27% | 3.75% | 3.48% | 4.52% | 4.78% | 5.79% | 5.18% | 6.06% | 4.31% | 5.08% | 5.66% | 5.6% | 4.85% | 4.19% | 4.22% |
| EBITDA Growth % | -23.74% | 110.97% | -7.35% | -49.55% | -45.85% | -36.07% | -40.45% | -40.57% | -32.24% | -1.88% | 0.24% | -15.49% | 10.04% | -0.18% | 46.89% | 59.57% | 26.43% | 31.57% | 32.45% | 35.43% |
| D&A (Non-Cash Add-back) | 0 | 1.16B | 296M | 291M | 287M | 287M | 288M | 286M | 280M | 277M | 261M | 262M | 259M | 254M | 260M | 257M | 257M | 257M | 247M | 243M |
| EBIT | 408M | 618M | 268M | 438M | 511M | 846M | 282M | 783M | 1.05B | 899M | 1.19B | 1.31B | 1.54B | 1.35B | 1.33B | 1.59B | 1.36B | 1.09B | 714M | 865M |
| Net Interest Income | -24M | -213M | -121M | -159M | -20M | -17M | -37M | -47M | -43M | -94M | -3M | -39M | -18M | -14M | -20M | -63M | -52M | -66M | -57M | -60M |
| Interest Income | 125M | -71M | 0 | 0 | 138M | 162M | 137M | 140M | 123M | 71M | 152M | 142M | 134M | 117M | 85M | 29M | 25M | 13M | 11M | 10M |
| Interest Expense | 149M | 142M | 121M | 159M | 158M | 179M | 174M | 187M | 166M | 165M | 155M | 181M | 152M | 131M | 105M | 92M | 77M | 79M | 68M | 70M |
| Other Income/Expense | -24M | 156M | -250M | 179M | 105M | 252M | -352M | 107M | 177M | -87M | 36M | 90M | 198M | 348M | 237M | 233M | 203M | 147M | 47M | 101M |
| Pretax Income | 384M | 476M | 147M | 279M | 353M | 667M | 108M | 596M | 885M | 734M | 1.03B | 1.13B | 1.4B | 1.21B | 1.23B | 1.52B | 1.27B | 1.01B | 653M | 825M |
| Pretax Margin % | 1.87% | 2.57% | 0.72% | 1.32% | 1.75% | 3.1% | 0.54% | 2.68% | 4.05% | 3.19% | 4.75% | 4.49% | 5.8% | 4.68% | 4.98% | 5.57% | 5.37% | 4.38% | 3.21% | 3.6% |
| Income Tax | 81M | 22M | 37M | 62M | 61M | 106M | 90M | 115M | 166M | 192M | 207M | 204M | 225M | 189M | 193M | 279M | 207M | 214M | 120M | 113M |
| Effective Tax Rate % | 21.09% | 4.62% | 25.17% | 22.22% | 17.28% | 15.89% | 83.33% | 19.3% | 18.76% | 26.16% | 20.08% | 18.02% | 16.11% | 15.58% | 15.69% | 18.37% | 16.29% | 21.17% | 18.38% | 13.7% |
| Net Income | 298M | 456M | 108M | 219M | 295M | 567M | 18M | 486M | 729M | 565M | 821M | 927M | 1.17B | 1.02B | 1.03B | 1.24B | 1.05B | 782M | 526M | 712M |
| Net Margin % | 1.45% | 2.46% | 0.53% | 1.03% | 1.46% | 2.64% | 0.09% | 2.18% | 3.34% | 2.46% | 3.78% | 3.68% | 4.86% | 3.93% | 4.18% | 4.53% | 4.46% | 3.39% | 2.59% | 3.11% |
| Net Income Growth % | 1.02% | -19.58% | 500% | -54.94% | -59.53% | 0.35% | -97.81% | -47.57% | -37.69% | -44.55% | -20.37% | -25% | 11.01% | 30.31% | 96.01% | 73.6% | 52.98% | 13.83% | 133.78% | 51.81% |
| Net Income (Continuing) | 303M | 454M | 110M | 217M | 292M | 561M | 18M | 481M | 719M | 542M | 824M | 928M | 1.17B | 1.02B | 1.04B | 1.24B | 1.06B | 797M | 533M | 712M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 299M | 294M | 258M | 257M | 263M | 263M | 293M | 313M | 320M | 333M | 353M | 340M | 337M | 332M | 322M | 294M | 295M | 290M | 246M | 92M |
| EPS (Diluted) | 0.62 | 0.94 | 0.22 | 0.45 | 0.61 | 1.17 | 0.04 | 0.98 | 1.42 | 1.06 | 1.52 | 1.70 | 2.12 | 1.84 | 1.83 | 2.18 | 1.86 | 1.38 | 0.93 | 1.26 |
| EPS Growth % | 1.64% | -19.66% | 489.81% | -54.08% | -57.04% | 10.38% | -97.55% | -42.35% | -33.02% | -42.39% | -16.94% | -22.02% | 13.98% | 33.33% | 96.77% | 73.02% | 52.46% | 13.11% | 132.5% | 50% |
| EPS (Basic) | 0.62 | 0.94 | 0.22 | 0.45 | 0.61 | 1.19 | 0.04 | 0.98 | 1.45 | 1.08 | 1.52 | 1.70 | 2.13 | 1.86 | 1.84 | 2.18 | 1.86 | 1.40 | 0.93 | 1.26 |
| Diluted Shares Outstanding | 484M | 484M | 484M | 484M | 483M | 484M | 483M | 495.92M | 514M | 531M | 540M | 546M | 551M | 554M | 563M | 568M | 568M | 566M | 566M | 566M |
| Basic Shares Outstanding | 484M | 484M | 484M | 484M | 483M | 478M | 482M | 495.92M | 502M | 521.24M | 540M | 545M | 550M | 547M | 561M | 566M | 566M | 560M | 564M | 564M |
| Dividend Payout Ratio | 85.23% | 53.51% | 229.63% | 113.24% | 83.73% | 42.5% | 1338.89% | 50.62% | 35.25% | 42.3% | 29.72% | 26.54% | 21.2% | 21.79% | 21.73% | 18.37% | 21.44% | 26.6% | 39.73% | 29.35% |