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Archer-Daniels-Midland Co
ADM
$41.5B
Mkt Cap
$85.92
-0.50%
Archer-Daniels-Midland Co (ADM) has a current P/E ratio of 38.5, compared to its historical median P/E of 12.8. The stock is currently considered Expensive based on its historical valuation range.
Archer-Daniels-Midland Co (ADM) has a 5-year average return on invested capital (ROIC) of 9.9%. This is below average and may indicate limited pricing power.
Archer-Daniels-Midland Co (ADM) has a market capitalization of $41.6B. It is classified as a large-cap stock.
Yes, Archer-Daniels-Midland Co (ADM) pays a dividend with a trailing twelve-month yield of 2.39%.
Based on historical P/E analysis, Archer-Daniels-Midland Co (ADM) appears expensive. The current P/E of 38.5 is 201% above its historical median of 12.8. The estimated fair value CAGR (P/E method) is 6.5%.
Archer-Daniels-Midland Co (ADM) operates in the Fats & Oils industry, within the Consumer Defensive sector.
Archer-Daniels-Midland Co (ADM) reported annual revenue of $80.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Archer-Daniels-Midland Company (ADM) is a global agricultural supply chain manager and processor that connects farmers with customers across food, feed, fuel, and industrial sectors through an integrated network of origination, logistics, and manufacturing operations. The company operates three reportable segments: Ag Services and Oilseeds, which sources and processes agricultural commodities including soybeans and soft seeds into vegetable oils and protein meals for food, feed, and industrial customers, and manages global grain sourcing and multimodal transportation; Carbohydrate Solutions, which converts corn and wheat into sweeteners, starches, glucose, ethanol, and animal feed ingredients through wet and dry milling; and Nutrition, which manufactures and distributes plant-based proteins, natural colors and flavors, probiotics, enzymes, and specialty ingredients for human and animal nutrition. ADM's business model is built on commodity processing and value-added ingredient manufacturing, with unit economics characterized by high-volume, lower-margin commodity operations offset by higher-margin specialty and nutrition products. The company distributes products globally through its owned and leased transportation fleet including trucks, barges, and ocean vessels, and maintains a 22.5% equity interest in Wilmar International Limited, a Singapore-listed agribusiness. ADM's competitive advantages include its integrated global supply chain network, scale in commodity origination and processing, and innovation capabilities in nutrition and specialty ingredients, serving thousands of farmers and customers across North America, South America, Europe, Middle East, Africa, and Asia-Pacific.
【Policy clarity driving margin recovery】 Management expects 2026 to present a more constructive operating environment supported by U.S. biofuel policy clarity and improved China trade relations, which should drive elevated pricing, volumes, and margins across Ag Services and Oilseeds and Carbohydrate Solutions. The company anticipates continued strength in ethanol margins supported by policy incentives and robust export opportunities, which is expected to offset softness in starches and sweeteners from ongoing consumer behavior trends. Nutrition is projected to continue its trajectory of organic growth and margin expansion, driven by higher flavor sales, continued recovery in specialty ingredients following the Decatur East plant restart, and margin expansion in animal nutrition through focus on higher-margin product lines. ADM is progressing a cost savings program targeting $500 million to $750 million in aggregate savings over three to five years and expects to invest approximately $1.3 billion to $1.5 billion in capital expenditures in 2026 while maintaining disciplined capital allocation and dividend growth.
| Metric | Target | Period |
|---|---|---|
| Adjusted EPS | $4.15–$4.70 | FY2026 |
| Net Leverage Ratio | approximately 2x | Year-end 2026 |
Adjusted EPS (FY2026): “Our full-year Adjusted EPS guidance range is now $4.15-$4.70, up from our previous range of $3.60-$4.25.”
Net Leverage Ratio (Year-end 2026): “Our year-end net leverage ratio expectations remain at approximately 2 x.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 80.6B | 80.3B | 85.5B | 93.9B | 101.6B | 85.2B |
| Net Income | 1.1B | 1.1B | 1.8B | 3.5B | 4.3B | 2.7B |
| EPS | $2.23 | $2.23 | $3.65 | $6.43 | $7.71 | $4.79 |
| Free Cash Flow | 4.8B | 4.2B | 1.2B | 3.0B | 2.2B | 5.4B |
| ROIC | 0.0% | 5.2% | 7.5% | 12.6% | 14.7% | 9.7% |
| Gross Margin | 6.3% | 6.3% | 6.8% | 8.0% | 7.5% | 7.0% |
| Debt/Equity | 1,865.80 | 0.37 | 0.46 | 0.35 | 0.38 | 0.42 |
| Dividends/Share | $2.05 | $2.04 | $2.00 | $1.80 | $1.60 | $1.48 |
| Operating Income | 0 | 1.9B | 3.0B | 5.0B | 5.6B | 3.6B |
| Operating Margin | 0.0% | 2.3% | 3.5% | 5.3% | 5.5% | 4.2% |
| ROE | 21620.0% | 4.8% | 7.8% | 14.4% | 18.5% | 12.7% |
| Shares Outstanding | 484M | 483M | 493M | 542M | 563M | 566M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 81.2B | 67.7B | 62.3B | 60.8B | 64.3B | 64.7B | 64.4B | 85.2B | 101.6B | 93.9B | 85.5B | 80.3B | 80.6B |
| Gross Margin | 5.9% | 5.9% | 5.8% | 5.8% | 6.5% | 6.4% | 6.9% | 7.0% | 7.5% | 8.0% | 6.8% | 6.3% | 6.3% |
| R&D | 79M | 122M | 123M | 129M | 141M | 154M | 160M | 171M | 216M | 256M | 269M | 246M | 246M |
| SG&A | 1.9B | 2.0B | 2.0B | 2.0B | 2.2B | 2.5B | 2.7B | 3.0B | 3.4B | 3.5B | 3.7B | 3.6B | 3.6B |
| EBIT | 3.5B | 2.6B | 2.1B | 1.9B | 2.4B | 2.0B | 2.2B | 3.6B | 5.6B | 5.0B | 3.0B | 1.9B | 0 |
| Op. Margin | 4.3% | 3.8% | 3.4% | 3.2% | 3.8% | 3.1% | 3.4% | 4.2% | 5.5% | 5.3% | 3.5% | 2.3% | 0.0% |
| Net Income | 2.2B | 1.8B | 1.3B | 1.6B | 1.8B | 1.4B | 1.8B | 2.7B | 4.3B | 3.5B | 1.8B | 1.1B | 1.1B |
| Net Margin | 2.8% | 2.7% | 2.1% | 2.6% | 2.8% | 2.1% | 2.8% | 3.2% | 4.3% | 3.7% | 2.1% | 1.3% | 1.3% |
| Non-Recurring | 105M | 213M | 38M | 173M | 150M | 253M | 192M | 212M | 107M | 208M | 572M | 721M | 257M |
| Returns on Capital | |||||||||||||
| ROIC | 10.6% | 9.1% | 6.5% | 8.0% | 8.5% | 6.6% | 7.4% | 9.7% | 14.7% | 12.6% | 7.5% | 5.2% | 0.0% |
| ROE | 11.3% | 9.8% | 7.3% | 9.0% | 9.7% | 7.2% | 9.0% | 12.7% | 18.5% | 14.4% | 7.8% | 4.8% | 21620.0% |
| ROA | 5.1% | 4.4% | 3.2% | 4.0% | 4.5% | 3.3% | 3.8% | 5.1% | 7.5% | 6.1% | 3.3% | 2.0% | 1.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 4.9B | 1.7B | -6.5B | -6.0B | -4.8B | -5.5B | -2.4B | 6.6B | 3.5B | 4.5B | 2.8B | 5.5B | 5.9B |
| Free Cash Flow | 4.0B | 580M | -7.4B | -7.0B | -5.6B | -6.3B | -3.2B | 5.4B | 2.2B | 3.0B | 1.2B | 4.2B | 4.8B |
| Owner Earnings | 4.0B | 744M | -7.5B | -7.0B | -5.8B | -6.5B | -3.5B | 5.4B | 2.3B | 3.3B | 1.6B | 4.2B | 4.7B |
| CapEx | 894M | 1.1B | 882M | 1.0B | 842M | 828M | 823M | 1.2B | 1.3B | 1.5B | 1.6B | 1.2B | 1.2B |
| Maint. CapEx | 894M | 882M | 900M | 924M | 941M | 993M | 976M | 996M | 1.0B | 1.1B | 1.1B | 1.2B | 1.2B |
| Growth CapEx | 0 | 243M | 0 | 125M | 0 | 0 | 0 | 173M | 291M | 435M | 422M | 67M | 0 |
| D&A | 894M | 882M | 900M | 924M | 941M | 993M | 976M | 996M | 1.0B | 1.1B | 1.1B | 1.2B | 1.2B |
| CapEx/OCF | 18.0% | 45.5% | 56.7% | N/A | N/A | N/A | N/A | 17.7% | 37.9% | 33.5% | 56.0% | 22.9% | 19.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 624M | 687M | 701M | 730M | 758M | 789M | 809M | 834M | 899M | 977M | 985M | 987M | 994M |
| Dividend Yield | 2.9% | 3.3% | 3.9% | 3.9% | 3.7% | 4.1% | 3.9% | 2.8% | 2.1% | 2.5% | 3.6% | 3.9% | 2.4% |
| Share Buybacks | 1.2B | 2.0B | 1.0B | 750M | 77M | 150M | 133M | 0 | 1.4B | 2.7B | 2.3B | 0 | 0 |
| Buyback Yield | 4.7% | 12.2% | 4.9% | 4.2% | 0.4% | 0.7% | 0.6% | N/A | 3.1% | 7.4% | 9.8% | N/A | 0.0% |
| Stock-Based Comp | 55M | 79M | 74M | 66M | 109M | 89M | 151M | 161M | 147M | 112M | 74M | 83M | 97M |
| Debt Repayment | 1.3B | 994M | 14M | 835M | 30M | 626M | 2.1B | 534M | 482M | 963M | 1.0M | 772M | 772M |
| Balance Sheet | |||||||||||||
| Net Debt | 4.0B | 4.5B | 6.0B | 6.7B | 6.4B | 8.0B | 9.3B | 8.6B | 8.1B | 7.0B | 9.3B | 7.4B | 8.7B |
| Cash & Equiv. | 1.1B | 910M | 619M | 804M | 2.0B | 852M | 666M | 943M | 1.0B | 1.4B | 611M | 1.0B | 591M |
| Long-Term Debt | 5.5B | 5.8B | 6.5B | 6.6B | 7.7B | 7.7B | 7.9B | 8.0B | 7.7B | 8.3B | 7.6B | 6.6B | 6.5B |
| Debt/Equity | 0.29 | 0.33 | 0.40 | 0.41 | 0.44 | 0.46 | 0.50 | 0.42 | 0.38 | 0.35 | 0.46 | 0.37 | 1865.80 |
| Interest Coverage | 10.3 | 8.4 | 7.2 | 5.9 | 6.6 | 5.0 | 6.5 | 13.4 | 14.2 | 7.7 | 4.2 | 3.1 | 3.1 |
| Equity | 19.6B | 17.9B | 17.2B | 18.3B | 19.0B | 19.2B | 20.0B | 22.5B | 24.3B | 24.1B | 22.2B | 22.7B | 5.0M |
| Total Assets | 44.0B | 40.2B | 39.8B | 40.0B | 40.8B | 44.0B | 49.7B | 56.1B | 59.8B | 54.6B | 53.3B | 52.4B | 55.6B |
| Total Liabilities | 24.3B | 22.2B | 22.6B | 21.6B | 21.8B | 24.8B | 29.7B | 33.6B | 35.4B | 30.5B | 31.1B | 29.6B | 940M |
| Intangibles | 1.4B | 1.5B | 1.5B | 1.5B | 1.5B | 2.1B | 2.1B | 2.6B | 2.4B | 2.2B | 2.3B | 2.0B | 1.9B |
| Retained Earnings | 15.7B | 16.9B | 17.4B | 17.6B | 18.5B | 19.0B | 19.8B | 21.7B | 23.6B | 23.5B | 21.9B | 22.0B | 22.0B |
| Working Capital | 10.4B | 8.3B | 7.9B | 7.4B | 8.8B | 7.6B | 9.1B | 10.0B | 11.2B | 11.1B | 7.8B | 7.1B | 7.1B |
| Current Assets | 26.0B | 21.8B | 21.0B | 19.9B | 20.6B | 21.3B | 27.3B | 31.9B | 35.4B | 29.8B | 27.7B | 26.7B | 30.0B |
| Current Liabilities | 15.6B | 13.5B | 13.2B | 12.6B | 11.8B | 13.7B | 18.2B | 21.9B | 24.2B | 18.7B | 19.9B | 19.5B | 22.9B |
| Per Share Data | |||||||||||||
| EPS | 3.43 | 2.98 | 2.16 | 2.79 | 3.19 | 2.44 | 3.15 | 4.79 | 7.71 | 6.43 | 3.65 | 2.23 | 2.23 |
| Owner EPS | 6.09 | 1.20 | -12.64 | -12.17 | -10.28 | -11.56 | -6.24 | 9.62 | 4.09 | 6.07 | 3.19 | 8.66 | 9.63 |
| Book Value | 29.95 | 28.87 | 29.02 | 32.05 | 33.48 | 34.02 | 35.59 | 39.80 | 43.20 | 44.57 | 44.97 | 47.04 | 0.01 |
| Cash Flow/Share | 7.54 | 2.75 | -10.99 | -10.44 | -8.43 | -9.65 | -4.24 | 11.66 | 6.18 | 8.23 | 5.66 | 11.28 | 4.69 |
| Dividends/Share | 0.96 | 1.12 | 1.20 | 1.28 | 1.34 | 1.40 | 1.44 | 1.48 | 1.60 | 1.80 | 2.00 | 2.04 | 2.05 |
| Shares Out. | 655.4M | 620.5M | 592.1M | 571.7M | 567.4M | 565.2M | 562.5M | 565.6M | 562.9M | 541.7M | 493.2M | 483.4M | 484.0M |
| Valuation | |||||||||||||
| P/E Ratio | 11.2 | 9.0 | 15.9 | 11.3 | 10.3 | 15.8 | 13.6 | 12.4 | 10.9 | 10.4 | 13.2 | 25.8 | 38.5 |
| P/FCF | 6.2 | 28.8 | N/A | N/A | N/A | N/A | N/A | 6.2 | 22.0 | 12.2 | 19.4 | 6.6 | 8.7 |
| EV/EBIT | 118.2 | 60.6 | 179.7 | 12.8 | N/A | 14.6 | 128.4 | 11.6 | 152.5 | 237.1 | 130.5 | 227.8 | N/A |
| Price/Book | 1.3 | 0.9 | 1.2 | 1.0 | 1.0 | 1.1 | 1.2 | 1.5 | 2.0 | 1.5 | 1.1 | 1.2 | N/A |
| Price/Sales | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 0.3 | 0.3 | 0.5 |
| FCF Yield | 16.1% | 3.5% | -36.2% | -38.9% | -30.1% | -28.7% | -13.3% | 16.2% | 4.5% | 8.2% | 5.1% | 15.1% | 11.5% |
| Market Cap | 25.2B | 16.7B | 20.4B | 18.0B | 18.7B | 21.9B | 24.1B | 33.5B | 47.5B | 36.1B | 23.8B | 27.8B | 41.6B |
| Avg. Price | 32.78 | 33.49 | 30.36 | 32.99 | 36.32 | 34.13 | 36.42 | 52.94 | 75.62 | 71.16 | 55.22 | 52.55 | 85.92 |
| Year-End Price | 38.39 | 26.88 | 34.45 | 31.55 | 32.90 | 38.67 | 42.91 | 59.19 | 84.36 | 66.63 | 48.32 | 57.48 | 85.92 |
Archer-Daniels-Midland Co passes 3 of 9 quality checks, indicating weak fundamentals.
Archer-Daniels-Midland Co trades at 38.5x trailing earnings, compared to its 15-year median P/E of 12.8x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 9.8x vs a median of 12.2x. The company's 5-year average ROIC is 9.9% with a gross margin of 7.1%. Total shareholder yield (dividends) is 2.4%. At current prices, the estimated annualized return to fair value is +12.0%.
Archer-Daniels-Midland Co (ADM) has a net profit margin of 1.3%. This is a modest margin.
Archer-Daniels-Midland Co (ADM) generated $4.2 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Archer-Daniels-Midland Co (ADM) has a debt-to-equity ratio of 0.37. This indicates a conservatively financed balance sheet.
Archer-Daniels-Midland Co (ADM) reported earnings per share (EPS) of $2.23 in its most recent fiscal year.
Archer-Daniels-Midland Co (ADM) has a return on equity (ROE) of 4.8%. This indicates moderate shareholder returns.
Archer-Daniels-Midland Co (ADM) has a 5-year average gross margin of 7.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for Archer-Daniels-Midland Co (ADM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Archer-Daniels-Midland Co (ADM) has a book value per share of $47.04, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects 2026 to present a more constructive operating environment supported by U.S. biofuel policy clarity and improved China trade relations, which should drive elevated pricing, volumes, and margins across Ag Services and Oilseeds and Carbohydrate Solutions. The company anticipates continued strength in ethanol margins supported by policy incentives and robust export opportunities, which is expected to offset softness in starches and sweeteners from ongoing consumer behavior trends. Nutrition is projected to continue its trajectory of organic growth and margin expansion, driven by higher flavor sales, continued recovery in specialty ingredients following the Decatur East plant restart, and margin expansion in animal nutrition through focus on higher-margin product lines. ADM is progressing a cost savings program targeting $500 million to $750 million in aggregate savings over three to five years and expects to invest approximately $1.3 billion to $1.5 billion in capital expenditures in 2026 while maintaining disciplined capital allocation and dividend growth.
Based on recent SEC filings and earnings calls, Archer-Daniels-Midland Co (ADM) has provided the following forward guidance: Adjusted EPS: $4.15–$4.70 (FY2026); Net Leverage Ratio: approximately 2x (Year-end 2026).
No recent press releases.