Archer-Daniels-Midland (ADM) Financials

$46.42 +0.58 (+1.27%)

As of 03:58 PM Eastern

Annual Income Statements for Archer-Daniels-Midland

This table shows Archer-Daniels-Midland's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	1,849	1,279	1,595	1,810	1,379	1,772	2,709	4,340	3,483	1,800
Consolidated Net Income / (Loss)	1,846	1,288	1,602	1,815	1,379	1,782	2,735	4,365	3,466	1,779
Net Income / (Loss) Continuing Operations	1,846	1,288	1,602	1,815	1,379	1,782	2,735	4,365	3,466	1,779
Total Pre-Tax Income	2,284	1,822	1,609	2,060	1,588	1,883	3,313	5,233	4,294	2,255
Total Operating Income	1,781	1,582	1,367	1,845	1,351	1,686	2,829	4,146	3,715	1,527
Total Gross Profit	3,966	3,618	3,518	4,181	4,147	4,453	5,987	7,570	7,513	5,778
Total Revenue	67,702	62,346	60,828	64,341	64,656	64,355	85,249	101,556	93,935	85,530
Operating Revenue	67,702	62,346	60,828	64,341	64,656	64,355	85,249	101,556	93,935	85,530
Total Cost of Revenue	63,736	58,728	57,310	60,160	60,509	59,902	79,262	93,986	86,422	79,752
Operating Cost of Revenue	63,736	58,728	57,310	60,160	60,509	59,902	79,262	93,986	86,422	79,752
Total Operating Expenses	2,185	2,036	2,151	2,336	2,796	2,767	3,158	3,424	3,798	4,251
Selling, General & Admin Expense	1,985	1,981	1,978	2,165	2,493	2,687	2,994	3,358	3,456	3,706
Restructuring Charge	200	55	173	171	303	80	164	66	342	545
Total Other Income / (Expense), net	503	240	242	215	237	197	484	1,087	579	728
Interest Expense	308	293	330	364	402	748	301	396	647	706
Interest & Investment Income	461	384	562	680	650	690	691	1,125	1,050	1,183
Other Income / (Expense), net	350	149	10	-101	-11	255	94	358	176	251
Income Tax Expense	438	534	7.00	245	209	101	578	868	828	476
Net Income / (Loss) Attributable to Noncontrolling Interest	-3.00	9.00	7.00	5.00	0.00	10	26	25	-17	-21
Basic Earnings per Share	$2.99	$2.18	$2.80	$3.21	$2.45	$3.16	$4.80	$7.72	$6.44	$3.66
Weighted Average Basic Shares Outstanding	618M	588M	569M	564M	563M	561M	564M	562M	541M	492M
Diluted Earnings per Share	$2.98	$2.16	$2.79	$3.19	$2.44	$3.15	$4.79	$7.71	$6.43	$3.65
Weighted Average Diluted Shares Outstanding	621M	591M	572M	567M	565M	565M	566M	563M	542M	493M
Weighted Average Basic & Diluted Shares Outstanding	618.40M	586.70M	569.60M	563.90M	557.89M	558.41M	562.17M	548.01M	509.85M	479.71M
Cash Dividends to Common per Share	$1.12	$1.20	$1.28	$1.34	$1.40	$1.44	$1.48	$1.60	$1.80	$2.00

This table shows Archer-Daniels-Midland's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	1,031	1,019	1,170	927	821	565	729	486	18	567
Consolidated Net Income / (Loss)	1,037	1,024	1,172	928	824	542	719	481	18	561
Net Income / (Loss) Continuing Operations	1,037	1,024	1,172	928	824	542	719	481	18	561
Total Pre-Tax Income	1,230	1,213	1,397	1,132	1,031	734	885	596	108	666
Total Operating Income	965	829	1,192	982	916	625	690	482	-47	402
Total Gross Profit	1,811	1,762	2,080	1,883	1,810	1,740	1,659	1,396	1,365	1,358
Total Revenue	24,683	25,939	24,072	25,190	21,695	22,978	21,847	22,248	19,937	21,498
Operating Revenue	24,683	25,939	24,072	25,190	21,695	22,978	21,847	22,248	19,937	21,498
Total Cost of Revenue	22,872	24,177	21,992	23,307	19,885	21,238	20,188	20,852	18,572	20,140
Operating Cost of Revenue	22,872	24,177	21,992	23,307	19,885	21,238	20,188	20,852	18,572	20,140
Total Operating Expenses	846	933	888	901	894	1,115	969	914	1,412	956
Selling, General & Admin Expense	818	897	881	841	815	919	951	907	905	943
Restructuring Charge	28	36	7.00	60	79	196	18	7.00	507	13
Total Other Income / (Expense), net	265	384	205	150	115	109	195	114	155	264
Interest Expense	97	134	147	180	155	165	166	187	174	179
Interest & Investment Income	295	343	308	293	235	214	335	292	271	285
Other Income / (Expense), net	67	175	44	37	35	60	26	9.00	58	158
Income Tax Expense	193	189	225	204	207	192	166	115	90	105
Net Income / (Loss) Attributable to Noncontrolling Interest	6.00	5.00	2.00	1.00	3.00	-23	-10	-5.00	0.00	-6.00
Basic Earnings per Share	$1.84	$1.84	$2.13	$1.70	$1.52	$1.09	$1.42	$0.99	$0.04	$1.21
Weighted Average Basic Shares Outstanding	561M	562M	550M	545M	540M	541M	513M	492M	482M	492M
Diluted Earnings per Share	$1.83	$1.84	$2.12	$1.70	$1.52	$1.09	$1.42	$0.98	$0.04	$1.21
Weighted Average Diluted Shares Outstanding	563M	563M	551M	546M	540M	542M	514M	493M	483M	493M
Weighted Average Basic & Diluted Shares Outstanding	549.33M	548.01M	544.63M	536.10M	533.38M	509.85M	494.44M	478.14M	478.53M	479.71M

This table details how cash moves in and out of Archer-Daniels-Midland's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-965	-235	297	1,985	-853	1,656	2,808	-421	-1,643	-1,466
Net Cash From Operating Activities	1,705	-6,508	-5,966	-4,784	-5,452	-2,386	6,595	3,478	4,460	2,790
Net Cash From Continuing Operating Activities	1,705	-6,508	-5,966	-4,784	-5,452	-2,386	6,595	3,478	4,460	2,842
Net Income / (Loss) Continuing Operations	1,846	1,288	1,602	1,815	1,379	1,782	2,735	4,365	3,466	1,779
Consolidated Net Income / (Loss)	1,846	1,288	1,602	1,815	1,379	1,782	2,735	4,365	3,466	1,779
Depreciation Expense	882	900	924	941	993	976	996	1,028	1,059	1,141
Non-Cash Adjustments To Reconcile Net Income	-489	-184	83	-37	-107	296	339	-1,806	31	-279
Changes in Operating Assets and Liabilities, net	-534	-8,512	-8,575	-7,503	-7,717	-5,440	2,525	-109	-96	201
Net Cash From Investing Activities	-21	6,852	7,291	6,582	5,259	4,465	-2,669	-1,400	-1,496	-2,702
Net Cash From Continuing Investing Activities	-21	6,852	7,291	6,582	5,259	4,495	-2,669	-1,400	-1,496	-2,768
Purchase of Property, Plant & Equipment	-1,125	-882	-1,049	-842	-828	-823	-1,169	-1,319	-1,494	-1,563
Acquisitions	-705	-792	-467	-621	-1,959	-20	-1,598	-22	-23	-927
Purchase of Investments	-1,084	-1,401	-538	0.00	-27	0.00	-69	-232	-18	-366
Sale and/or Maturity of Investments	1,119	1,659	985	13	104	0.00	-	131	60	84
Other Investing Activities, net	9.00	8,073	8,165	7,841	7,676	4,610	-78	42	-21	4.00
Net Cash From Financing Activities	-2,649	-579	-1,028	187	-660	-423	-1,118	-2,499	-4,604	-1,530
Net Cash From Continuing Financing Activities	-2,649	-579	-1,028	187	-660	-423	-1,118	-2,499	-4,604	-1,530
Repayment of Debt	-1,201	81	-835	-773	-626	-1,299	-528	-902	-1,455	1,763
Repurchase of Common Equity	-2,040	-1,000	-750	-77	-150	-133	0.00	-1,450	-2,673	-2,327
Payment of Dividends	-687	-701	-730	-758	-789	-809	-834	-899	-977	-993
Issuance of Debt	1,279	1,041	1,287	1,795	905	1,818	244	752	501	27
Effect of Exchange Rate Changes	-	-	-	-	-	-	0.00	-	-	-24
Cash Interest Paid	334	283	321	351	388	345	276	409	711	710
Cash Income Taxes Paid	602	398	538	376	268	195	553	708	742	658

This table details how cash moves in and out of Archer-Daniels-Midland's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-133	-457	-1,346	-500	-146	349	-545	-574	126	-473
Net Cash From Operating Activities	4,023	130	-1,610	2,509	992	2,569	700	468	1,300	322
Net Cash From Continuing Operating Activities	4,023	130	-1,610	2,509	992	2,569	700	468	1,300	374
Net Income / (Loss) Continuing Operations	1,037	1,024	1,172	928	824	542	719	481	18	561
Consolidated Net Income / (Loss)	1,037	1,024	1,172	928	824	542	719	481	18	561
Depreciation Expense	260	254	259	262	261	277	280	286	288	287
Non-Cash Adjustments To Reconcile Net Income	467	-935	-1,103	-428	429	1,133	-212	-31	362	-398
Changes in Operating Assets and Liabilities, net	2,259	-213	-1,938	1,747	-522	617	-87	-268	632	-76
Net Cash From Investing Activities	-301	-452	-328	-283	-450	-435	-1,230	-382	-390	-700
Net Cash From Continuing Investing Activities	-301	-452	-328	-283	-450	-435	-1,230	-382	-390	-766
Purchase of Property, Plant & Equipment	-341	-478	-327	-287	-441	-439	-328	-362	-381	-492
Acquisitions	-	-22	0.00	-	-11	-12	-915	-21	-	9.00
Purchase of Investments	-3.00	-38	-4.00	-7.00	-2.00	-5.00	-4.00	-4.00	-36	-322
Other Investing Activities, net	43	-45	3.00	11	4.00	-39	17	3.00	29	-45
Net Cash From Financing Activities	-3,855	-135	598	-2,729	-669	-1,804	-2.00	-659	-804	-65
Net Cash From Continuing Financing Activities	-3,855	-135	598	-2,729	-669	-1,804	-2.00	-659	-804	-65
Repayment of Debt	-1,212	331	1,304	-2,069	-577	-113	1,619	589	-2,229	1,784
Payment of Dividends	-224	-222	-248	-246	-244	-239	-257	-246	-241	-249
Issuance of Debt	-1,419	6.00	-107	236	269	103	-37	-2.00	1,666	-1,600
Effect of Exchange Rate Changes	-	-	-6.00	3.00	-19	-	-13	-1.00	20	-30

This table presents Archer-Daniels-Midland's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	40,157	39,769	39,963	40,833	43,997	49,719	56,136	59,774	54,631	53,271
Total Current Assets	21,829	21,045	19,925	20,588	21,347	27,286	31,909	35,410	29,767	27,718
Cash & Equivalents	910	619	804	1,997	852	666	943	1,037	1,368	611
Restricted Cash	5,214	5,011	4,826	4,506	4,458	5,890	8,016	9,010	7,228	7,212
Short-Term Investments	438	296	0.00	0.00	0.00	0.00	0.00	-	0.00	246
Accounts Receivable	1,738	1,905	1,947	2,233	2,267	2,793	3,311	4,926	4,232	3,708
Inventories, net	8,243	8,831	9,173	8,813	9,170	11,713	14,481	14,771	11,957	11,572
Other Current Assets	5,286	4,383	3,175	3,039	4,600	6,224	5,158	5,666	4,982	4,369
Plant, Property, & Equipment, net	9,853	9,758	10,138	9,953	10,106	9,779	9,803	9,933	10,508	10,837
Plant, Property & Equipment, gross	23,274	23,497	24,793	25,102	25,999	26,167	26,223	26,775	28,032	28,898
Accumulated Depreciation	13,421	13,739	14,655	15,149	15,893	16,388	16,420	16,842	17,524	18,061
Total Noncurrent Assets	8,475	8,966	9,900	10,292	12,544	12,654	14,424	14,431	14,356	14,716
Long-Term Investments	4,340	4,684	5,180	5,317	5,132	4,913	5,285	5,467	5,500	5,276
Goodwill	3,688	3,703	3,918	4,041	5,476	5,585	6,747	6,544	6,341	6,769
Other Noncurrent Operating Assets	447	579	802	934	1,936	2,156	2,392	2,420	2,515	2,671
Total Liabilities & Shareholders' Equity	40,157	39,769	39,963	40,833	43,997	49,719	56,136	59,774	54,631	53,271
Total Liabilities	22,242	22,564	21,588	21,788	24,714	29,623	33,369	35,158	30,166	30,840
Total Current Liabilities	13,505	13,173	12,570	11,776	13,734	18,182	21,948	24,191	18,662	19,938
Short-Term Debt	98	427	870	690	1,209	2,044	1,528	1,445	106	2,577
Accounts Payable	9,294	8,764	8,867	8,173	8,768	10,934	15,353	17,659	14,180	13,307
Other Current Liabilities	4,113	3,982	2,833	2,913	3,757	5,204	5,067	5,087	4,376	4,054
Total Noncurrent Liabilities	8,737	9,391	9,018	10,012	10,980	11,441	11,421	10,967	11,504	10,902
Long-Term Debt	5,779	6,504	6,623	7,698	7,672	7,885	8,011	7,735	8,259	7,580
Noncurrent Deferred & Payable Income Tax Liabilities	1,563	1,669	1,053	1,067	1,194	1,302	1,412	1,402	1,309	1,268
Other Noncurrent Operating Liabilities	1,395	1,218	1,342	1,247	2,114	2,254	1,998	1,830	1,936	2,054
Commitments & Contingencies	-	-	-	-	-	-	-	-	0.00	0.00
Redeemable Noncontrolling Interest	0.00	24	53	49	58	74	259	299	320	253
Total Equity & Noncontrolling Interests	17,915	17,181	18,322	18,996	19,225	20,022	22,508	24,317	24,145	22,178
Total Preferred & Common Equity	17,899	17,173	18,313	18,981	19,208	20,000	22,477	24,284	24,132	22,168
Total Common Equity	17,899	17,173	18,313	18,981	19,208	20,000	22,477	24,284	24,132	22,168
Common Stock	3,180	2,327	2,398	2,560	2,655	2,824	2,994	3,147	3,154	3,223
Retained Earnings	16,865	17,444	17,552	18,527	18,958	19,780	21,655	23,646	23,465	21,933
Accumulated Other Comprehensive Income / (Loss)	-2,146	-2,598	-1,637	-2,106	-2,405	-2,604	-2,172	-2,509	-2,487	-2,988
Noncontrolling Interest	16	8.00	9.00	15	17	22	31	33	13	10

This table presents Archer-Daniels-Midland's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	58,304	59,774	58,802	55,499	55,093	54,631	54,831	52,698	52,199	53,271
Total Current Assets	34,569	35,410	34,325	30,686	30,522	29,767	29,006	26,962	26,626	27,718
Cash & Equivalents	1,099	1,037	899	1,426	1,498	1,368	830	764	784	611
Restricted Cash	9,345	9,010	8,736	8,167	7,739	7,228	7,381	6,975	7,077	7,212
Short-Term Investments	0.00	-	0.00	0.00	0.00	0.00	-	-	-	246
Accounts Receivable	4,679	4,926	4,471	4,110	4,443	4,232	4,178	4,382	3,770	3,708
Inventories, net	13,282	14,771	14,771	11,902	11,224	11,957	11,634	10,443	10,746	11,572
Other Current Assets	6,164	5,666	5,448	5,081	5,618	4,982	4,983	4,398	4,249	4,369
Plant, Property, & Equipment, net	9,605	9,933	10,071	10,127	10,218	10,508	10,596	10,628	10,828	10,837
Plant, Property & Equipment, gross	26,194	26,775	27,111	27,356	27,519	28,032	28,232	28,427	28,915	28,898
Accumulated Depreciation	16,589	16,842	17,040	17,229	17,301	17,524	17,636	17,799	18,087	18,061
Total Noncurrent Assets	14,130	14,431	14,406	14,686	14,353	14,356	15,229	15,108	14,745	14,716
Long-Term Investments	5,429	5,467	5,525	5,665	5,469	5,500	5,566	5,557	5,142	5,276
Goodwill	6,364	6,544	6,583	6,542	6,392	6,341	7,051	6,970	6,999	6,769
Other Noncurrent Operating Assets	2,337	2,420	2,298	2,479	2,492	2,515	2,612	2,581	2,604	2,671
Total Liabilities & Shareholders' Equity	58,304	59,774	58,802	55,499	55,093	54,631	54,831	52,698	52,199	53,271
Total Liabilities	33,985	35,158	33,605	30,220	29,512	30,166	31,292	30,237	29,932	30,840
Total Current Liabilities	22,936	24,191	22,730	18,788	18,105	18,662	19,730	18,684	19,003	19,938
Short-Term Debt	1,069	1,445	2,761	426	117	106	1,735	2,313	2,458	2,577
Accounts Payable	16,902	17,659	15,701	13,791	13,552	14,180	13,775	12,503	12,580	13,307
Other Current Liabilities	4,965	5,087	4,268	4,571	4,436	4,376	4,220	3,868	3,965	4,054
Total Noncurrent Liabilities	11,049	10,967	10,875	11,432	11,407	11,504	11,562	11,553	10,929	10,902
Long-Term Debt	7,671	7,735	7,745	8,244	8,224	8,259	8,245	8,247	7,578	7,580
Noncurrent Deferred & Payable Income Tax Liabilities	1,639	1,402	1,362	1,351	1,390	1,309	1,291	1,289	1,278	1,268
Other Noncurrent Operating Liabilities	1,739	1,830	1,768	1,837	1,793	1,936	2,026	2,017	2,073	2,054
Commitments & Contingencies	-	-	-	-	-	0.00	-	-	-	0.00
Redeemable Noncontrolling Interest	290	299	301	304	316	320	307	302	283	253
Total Equity & Noncontrolling Interests	24,029	24,317	24,896	24,975	25,265	24,145	23,232	22,159	21,984	22,178
Total Preferred & Common Equity	23,997	24,284	24,860	24,939	25,228	24,132	23,219	22,148	21,974	22,168
Total Common Equity	23,997	24,284	24,860	24,939	25,228	24,132	23,219	22,148	21,974	22,168
Common Stock	3,110	3,147	3,106	3,128	3,140	3,154	2,720	3,200	3,208	3,223
Retained Earnings	23,099	23,646	24,217	24,244	24,699	23,465	23,069	21,828	21,606	21,933
Accumulated Other Comprehensive Income / (Loss)	-2,212	-2,509	-2,463	-2,433	-2,611	-2,487	-2,570	-2,880	-2,840	-2,988
Noncontrolling Interest	32	33	36	36	37	13	13	11	10	10

This table displays calculated financial ratios and metrics derived from Archer-Daniels-Midland's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-16.62%	-7.91%	-2.43%	5.78%	0.49%	-0.47%	32.47%	19.13%	-7.50%	-8.95%
EBITDA Growth	-22.68%	-12.68%	-12.54%	16.69%	-13.11%	25.03%	34.35%	41.16%	-10.52%	-41.03%
EBIT Growth	-29.04%	-18.77%	-20.45%	26.65%	-23.17%	44.85%	50.59%	54.09%	-13.61%	-54.30%
NOPAT Growth	-26.75%	-22.31%	21.70%	19.43%	-27.83%	36.00%	46.37%	48.08%	-13.29%	-59.83%
Net Income Growth	-18.06%	-30.23%	24.38%	13.30%	-24.02%	29.22%	53.48%	59.60%	-20.60%	-48.67%
EPS Growth	-13.12%	-27.52%	29.17%	14.34%	-23.51%	29.10%	52.06%	60.96%	-16.60%	-43.23%
Operating Cash Flow Growth	-65.51%	-481.70%	8.33%	19.81%	-13.96%	56.24%	376.40%	-47.26%	28.23%	-37.44%
Free Cash Flow Firm Growth	-57.37%	-73.18%	-135.44%	726.26%	-187.41%	181.38%	271.53%	14.45%	-21.36%	-72.68%
Invested Capital Growth	-2.71%	4.93%	11.33%	3.69%	13.51%	4.71%	-2.66%	1.22%	2.47%	2.72%
Revenue Q/Q Growth	-6.17%	0.09%	-0.70%	-0.19%	0.59%	2.63%	6.38%	2.89%	-3.06%	-1.70%
EBITDA Q/Q Growth	-8.59%	-3.94%	-2.58%	-8.52%	7.17%	29.76%	-2.75%	1.60%	-5.64%	-3.79%
EBIT Q/Q Growth	-10.84%	-5.77%	-5.43%	-12.32%	11.67%	52.83%	-3.91%	2.04%	-7.58%	-6.57%
NOPAT Q/Q Growth	-9.27%	2.32%	28.55%	-15.74%	5.53%	7.71%	3.25%	2.53%	-7.50%	-9.14%
Net Income Q/Q Growth	0.65%	-18.43%	29.61%	-20.74%	15.20%	12.22%	3.95%	5.49%	-12.21%	1.08%
EPS Q/Q Growth	3.47%	-17.87%	31.60%	-20.65%	16.19%	11.70%	3.46%	6.34%	-10.45%	3.40%
Operating Cash Flow Q/Q Growth	5.44%	-441.99%	46.02%	25.21%	-14.95%	28.33%	32.35%	-14.96%	120.68%	-44.61%
Free Cash Flow Firm Q/Q Growth	240.28%	-48.02%	-138.26%	414.10%	-446.93%	-65.47%	64.42%	5.00%	110.19%	-43.98%
Invested Capital Q/Q Growth	-2.28%	1.27%	7.80%	-3.85%	3.76%	13.45%	6.89%	6.38%	-2.51%	-0.30%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	5.86%	5.80%	5.78%	6.50%	6.41%	6.92%	7.02%	7.45%	8.00%	6.76%
EBITDA Margin	4.45%	4.22%	3.78%	4.17%	3.61%	4.53%	4.60%	5.45%	5.27%	3.41%
Operating Margin	2.63%	2.54%	2.25%	2.87%	2.09%	2.62%	3.32%	4.08%	3.95%	1.79%
EBIT Margin	3.15%	2.78%	2.26%	2.71%	2.07%	3.02%	3.43%	4.44%	4.14%	2.08%
Profit (Net Income) Margin	2.73%	2.07%	2.63%	2.82%	2.13%	2.77%	3.21%	4.30%	3.69%	2.08%
Tax Burden Percent	80.82%	70.69%	99.56%	88.11%	86.84%	94.64%	82.55%	83.41%	80.72%	78.89%
Interest Burden Percent	107.18%	105.26%	116.85%	118.12%	118.51%	97.01%	113.34%	116.19%	110.36%	126.83%
Effective Tax Rate	19.18%	29.31%	0.44%	11.89%	13.16%	5.36%	17.45%	16.59%	19.28%	21.11%
Return on Invested Capital (ROIC)	11.01%	8.47%	9.52%	10.60%	7.04%	8.80%	12.76%	19.03%	16.20%	6.34%
ROIC Less NNEP Spread (ROIC-NNEP)	3.89%	4.57%	2.64%	4.99%	-1.21%	-3.23%	-0.04%	2.60%	8.45%	-6.53%
Return on Net Nonoperating Assets (RNNOA)	-1.18%	-1.13%	-0.52%	-0.90%	0.16%	0.25%	0.01%	-0.61%	-2.08%	1.24%
Return on Equity (ROE)	9.83%	7.33%	9.01%	9.70%	7.20%	9.05%	12.76%	18.42%	14.12%	7.59%
Cash Return on Invested Capital (CROIC)	13.76%	3.65%	-1.20%	6.98%	-5.61%	4.20%	15.45%	17.82%	13.76%	3.66%
Operating Return on Assets (OROA)	5.06%	4.33%	3.45%	4.32%	3.16%	4.14%	5.52%	7.77%	6.80%	3.30%
Return on Assets (ROA)	4.39%	3.22%	4.02%	4.49%	3.25%	3.80%	5.17%	7.53%	6.06%	3.30%
Return on Common Equity (ROCE)	9.81%	7.32%	8.98%	9.67%	7.17%	9.01%	12.65%	18.18%	13.93%	7.49%
Return on Equity Simple (ROE_SIMPLE)	10.31%	7.50%	8.75%	9.56%	7.18%	8.91%	12.17%	17.97%	14.36%	8.03%
Net Operating Profit after Tax (NOPAT)	1,439	1,118	1,361	1,626	1,173	1,596	2,335	3,458	2,999	1,205
NOPAT Margin	2.13%	1.79%	2.24%	2.53%	1.81%	2.48%	2.74%	3.41%	3.19%	1.41%
Net Nonoperating Expense Percent (NNEP)	7.13%	3.90%	6.89%	5.61%	8.24%	12.02%	12.80%	16.43%	7.75%	12.88%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	10.32%	9.22%	3.73%
Cost of Revenue to Revenue	94.14%	94.20%	94.22%	93.50%	93.59%	93.08%	92.98%	92.55%	92.00%	93.24%
SG&A Expenses to Revenue	2.93%	3.18%	3.25%	3.36%	3.86%	4.18%	3.51%	3.31%	3.68%	4.33%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.23%	3.27%	3.54%	3.63%	4.32%	4.30%	3.70%	3.37%	4.04%	4.97%
Earnings before Interest and Taxes (EBIT)	2,131	1,731	1,377	1,744	1,340	1,941	2,923	4,504	3,891	1,778
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,013	2,631	2,301	2,685	2,333	2,917	3,919	5,532	4,950	2,919
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.95	1.23	1.01	1.03	1.19	1.28	1.57	1.96	1.52	1.08
Price to Tangible Book Value (P/TBV)	1.20	1.57	1.29	1.31	1.66	1.78	2.25	2.68	2.07	1.55
Price to Revenue (P/Rev)	0.25	0.34	0.31	0.30	0.35	0.40	0.41	0.47	0.39	0.28
Price to Earnings (P/E)	9.21	16.49	11.63	10.82	16.51	14.44	13.04	10.96	10.56	13.28
Dividend Yield	3.92%	3.27%	3.86%	3.84%	3.42%	3.13%	2.34%	1.85%	2.61%	4.00%
Earnings Yield	10.85%	6.06%	8.60%	9.24%	6.06%	6.92%	7.67%	9.12%	9.47%	7.53%
Enterprise Value to Invested Capital (EV/IC)	0.93	1.29	1.02	1.04	1.20	1.30	1.71	2.27	1.67	1.09
Enterprise Value to Revenue (EV/Rev)	0.18	0.28	0.25	0.25	0.33	0.38	0.36	0.41	0.33	0.25
Enterprise Value to EBITDA (EV/EBITDA)	3.99	6.63	6.65	6.04	9.12	8.28	7.89	7.52	6.34	7.19
Enterprise Value to EBIT (EV/EBIT)	5.64	10.08	11.11	9.30	15.88	12.44	10.58	9.23	8.06	11.80
Enterprise Value to NOPAT (EV/NOPAT)	8.36	15.60	11.24	9.98	18.14	15.13	13.24	12.02	10.46	17.42
Enterprise Value to Operating Cash Flow (EV/OCF)	7.05	0.00	0.00	0.00	0.00	0.00	4.69	11.96	7.03	7.52
Enterprise Value to Free Cash Flow (EV/FCFF)	6.69	36.16	0.00	15.15	0.00	31.71	10.93	12.84	12.32	30.16
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.33	0.40	0.41	0.44	0.46	0.49	0.42	0.37	0.34	0.45
Long-Term Debt to Equity	0.32	0.38	0.36	0.40	0.40	0.39	0.35	0.31	0.34	0.34
Financial Leverage	-0.30	-0.25	-0.20	-0.18	-0.13	-0.08	-0.15	-0.23	-0.25	-0.19
Leverage Ratio	2.24	2.28	2.24	2.16	2.21	2.38	2.47	2.45	2.33	2.30
Compound Leverage Factor	2.40	2.40	2.62	2.55	2.62	2.31	2.80	2.84	2.57	2.92
Debt to Total Capital	24.70%	28.72%	28.97%	30.58%	31.53%	33.07%	29.53%	27.16%	25.48%	31.17%
Short-Term Debt to Total Capital	0.41%	1.77%	3.36%	2.52%	4.29%	6.81%	4.73%	4.28%	0.32%	7.91%
Long-Term Debt to Total Capital	24.29%	26.95%	25.60%	28.06%	27.24%	26.26%	24.80%	22.89%	25.16%	23.26%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.07%	0.13%	0.24%	0.23%	0.27%	0.32%	0.90%	0.98%	1.01%	0.81%
Common Equity to Total Capital	75.23%	71.15%	70.79%	69.19%	68.20%	66.61%	69.58%	71.85%	73.51%	68.03%
Debt to EBITDA	1.95	2.63	3.26	3.12	3.81	3.40	2.43	1.66	1.69	3.48
Net Debt to EBITDA	-1.67	-1.40	-1.44	-1.28	-0.67	-0.53	-1.20	-1.15	-1.16	-1.09
Long-Term Debt to EBITDA	1.92	2.47	2.88	2.87	3.29	2.70	2.04	1.40	1.67	2.60
Debt to NOPAT	4.08	6.20	5.51	5.16	7.57	6.22	4.08	2.65	2.79	8.43
Net Debt to NOPAT	-3.49	-3.29	-2.44	-2.11	-1.33	-0.97	-2.01	-1.83	-1.91	-2.65
Long-Term Debt to NOPAT	4.01	5.82	4.87	4.74	6.54	4.94	3.43	2.24	2.75	6.29
Altman Z-Score	3.16	3.12	2.99	3.15	2.93	2.72	3.08	3.54	3.53	2.93
Noncontrolling Interest Sharing Ratio	0.19%	0.14%	0.26%	0.34%	0.36%	0.43%	0.90%	1.31%	1.35%	1.27%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.62	1.60	1.59	1.75	1.55	1.50	1.45	1.46	1.60	1.39
Quick Ratio	0.23	0.21	0.22	0.36	0.23	0.19	0.19	0.25	0.30	0.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,798	482	-171	1,071	-936	762	2,829	3,238	2,547	696
Operating Cash Flow to CapEx	0.00%	-947.31%	-698.59%	-734.87%	-1,019.07%	-2,511.58%	713.74%	263.68%	298.53%	178.50%
Free Cash Flow to Firm to Interest Expense	5.84	1.65	-0.52	2.94	-2.33	1.02	9.40	8.18	3.94	0.99
Operating Cash Flow to Interest Expense	5.54	-22.21	-18.08	-13.14	-13.56	-3.19	21.91	8.78	6.89	3.95
Operating Cash Flow Less CapEx to Interest Expense	7.61	-24.56	-20.67	-14.93	-14.89	-3.32	18.84	5.45	4.58	1.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.61	1.56	1.53	1.59	1.52	1.37	1.61	1.75	1.64	1.59
Accounts Receivable Turnover	30.48	34.23	31.58	30.79	28.74	25.44	27.93	24.66	20.51	21.54
Inventory Turnover	7.24	6.88	6.37	6.69	6.73	5.74	6.05	6.43	6.47	6.78
Fixed Asset Turnover	6.87	6.36	6.11	6.41	6.45	6.47	8.71	10.29	9.19	8.01
Accounts Payable Turnover	6.54	6.50	6.50	7.06	7.14	6.08	6.03	5.69	5.43	5.80
Days Sales Outstanding (DSO)	11.97	10.66	11.56	11.86	12.70	14.35	13.07	14.80	17.79	16.94
Days Inventory Outstanding (DIO)	50.44	53.06	57.33	54.56	54.24	63.62	60.31	56.80	56.44	53.84
Days Payable Outstanding (DPO)	55.82	56.12	56.14	51.69	51.10	60.03	60.53	64.10	67.24	62.90
Cash Conversion Cycle (CCC)	6.60	7.61	12.74	14.73	15.84	17.95	12.85	7.50	7.00	7.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	12,890	13,526	15,058	15,613	17,722	18,556	18,062	18,282	18,734	19,243
Invested Capital Turnover	5.18	4.72	4.26	4.20	3.88	3.55	4.66	5.59	5.08	4.50
Increase / (Decrease) in Invested Capital	-359	636	1,532	555	2,109	834	-494	220	452	509
Enterprise Value (EV)	12,027	17,444	15,301	16,216	21,286	24,147	30,921	41,581	31,370	20,983
Market Capitalization	17,036	21,091	18,556	19,584	22,772	25,591	35,336	47,583	36,768	23,908
Book Value per Share	$29.99	$29.85	$32.75	$33.86	$34.50	$35.95	$40.18	$44.21	$45.24	$46.32
Tangible Book Value per Share	$23.81	$23.41	$25.74	$26.65	$24.67	$25.91	$28.12	$32.29	$33.36	$32.18
Total Capital	23,792	24,136	25,868	27,433	28,164	30,025	32,306	33,796	32,830	32,588
Total Debt	5,877	6,931	7,493	8,388	8,881	9,929	9,539	9,180	8,365	10,157
Total Long-Term Debt	5,779	6,504	6,623	7,698	7,672	7,885	8,011	7,735	8,259	7,580
Net Debt	-5,025	-3,679	-3,317	-3,432	-1,561	-1,540	-4,705	-6,334	-5,731	-3,188
Capital Expenditures (CapEx)	-640	687	854	651	535	95	924	1,319	1,494	1,563
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,860	2,373	2,595	2,999	3,512	4,592	2,530	2,617	2,615	2,288
Debt-free Net Working Capital (DFNWC)	8,422	8,299	8,225	9,502	8,822	11,148	11,489	12,664	11,211	10,357
Net Working Capital (NWC)	8,324	7,872	7,355	8,812	7,613	9,104	9,961	11,219	11,105	7,780
Net Nonoperating Expense (NNE)	-407	-170	-241	-189	-206	-186	-400	-907	-467	-574
Net Nonoperating Obligations (NNO)	-5,025	-3,679	-3,317	-3,432	-1,561	-1,540	-4,705	-6,334	-5,731	-3,188
Total Depreciation and Amortization (D&A)	882	900	924	941	993	976	996	1,028	1,059	1,141
Debt-free, Cash-free Net Working Capital to Revenue	2.75%	3.81%	4.27%	4.66%	5.43%	7.14%	2.97%	2.58%	2.78%	2.68%
Debt-free Net Working Capital to Revenue	12.44%	13.31%	13.52%	14.77%	13.64%	17.32%	13.48%	12.47%	11.93%	12.11%
Net Working Capital to Revenue	12.30%	12.63%	12.09%	13.70%	11.77%	14.15%	11.68%	11.05%	11.82%	9.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.99	$2.18	$2.80	$3.21	$2.45	$3.16	$4.80	$7.72	$0.00	$3.66
Adjusted Weighted Average Basic Shares Outstanding	618M	588M	569M	564M	563M	561M	564M	562M	0.00	492M
Adjusted Diluted Earnings per Share	$2.98	$2.16	$2.79	$3.19	$2.44	$3.15	$4.79	$7.71	$0.00	$3.65
Adjusted Weighted Average Diluted Shares Outstanding	621M	591M	572M	567M	565M	563M	566M	563M	0.00	493M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$2.45	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	593.90M	571.08M	558.84M	560.09M	557.89M	558.41M	562.17M	548.01M	0.00	479.71M
Normalized Net Operating Profit after Tax (NOPAT)	1,601	1,157	1,533	1,776	1,436	1,671	2,471	3,513	3,275	1,635
Normalized NOPAT Margin	2.36%	1.86%	2.52%	2.76%	2.22%	2.60%	2.90%	3.46%	3.49%	1.91%
Pre Tax Income Margin	3.37%	2.92%	2.65%	3.20%	2.46%	2.93%	3.89%	5.15%	4.57%	2.64%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.92	5.91	4.17	4.79	3.33	2.59	9.71	11.37	6.01	2.52
NOPAT to Interest Expense	4.67	3.82	4.12	4.47	2.92	2.13	7.76	8.73	4.63	1.71
EBIT Less CapEx to Interest Expense	9.00	3.56	1.58	3.00	2.00	2.47	6.64	8.04	3.70	0.30
NOPAT Less CapEx to Interest Expense	6.75	1.47	1.54	2.68	1.59	2.01	4.69	5.40	2.33	-0.51
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	37.22%	54.43%	45.57%	41.76%	57.22%	45.40%	30.49%	20.60%	28.19%	55.82%
Augmented Payout Ratio	147.72%	132.07%	92.38%	46.01%	68.09%	52.86%	30.49%	53.81%	105.31%	186.62%

This table displays calculated financial ratios and metrics derived from Archer-Daniels-Midland's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.35%	12.34%	1.78%	-7.67%	-12.11%	-11.42%	-9.24%	-11.68%	-8.10%	-6.44%
EBITDA Growth	55.48%	7.43%	10.17%	-21.17%	-6.19%	-23.53%	-33.38%	-39.34%	-75.33%	-11.95%
EBIT Growth	76.71%	9.85%	12.36%	-25.51%	-7.85%	-31.77%	-42.07%	-51.82%	-98.84%	-18.25%
NOPAT Growth	65.03%	13.23%	11.96%	-23.26%	-10.02%	-34.05%	-43.94%	-51.68%	-101.07%	-26.63%
Net Income Growth	94.56%	28.48%	10.15%	-25.16%	-20.54%	-47.07%	-38.65%	-48.17%	-97.82%	3.51%
EPS Growth	96.77%	33.33%	13.98%	-22.02%	-16.94%	-40.76%	-33.02%	-42.35%	-97.37%	11.01%
Operating Cash Flow Growth	41.36%	-82.48%	-33.50%	372.50%	-75.34%	1,876.15%	143.48%	-81.35%	31.05%	-87.47%
Free Cash Flow Firm Growth	1,192.98%	-56.85%	99.27%	484.98%	-347.42%	-98.02%	46.25%	-132.66%	92.92%	-1,891.14%
Invested Capital Growth	1.71%	1.22%	0.34%	-5.89%	11.81%	2.47%	-3.90%	5.53%	0.44%	2.72%
Revenue Q/Q Growth	-9.53%	5.09%	-7.20%	4.64%	-13.87%	5.91%	-4.92%	1.84%	-10.39%	7.83%
EBITDA Q/Q Growth	-20.49%	-2.63%	18.84%	-14.31%	-5.39%	-20.63%	3.53%	-21.99%	-61.52%	183.28%
EBIT Q/Q Growth	-24.56%	-2.71%	23.11%	-17.56%	-6.67%	-27.97%	4.53%	-31.42%	-97.76%	4,990.91%
NOPAT Q/Q Growth	-22.44%	-13.98%	42.89%	-19.50%	-9.06%	-36.96%	21.47%	-30.61%	-102.01%	4,422.83%
Net Income Q/Q Growth	-16.37%	-1.25%	14.45%	-20.82%	-11.21%	-34.22%	32.66%	-33.10%	-96.26%	3,016.67%
EPS Q/Q Growth	-16.06%	0.55%	15.22%	-19.81%	-10.59%	-28.29%	30.28%	-30.99%	-95.92%	2,925.00%
Operating Cash Flow Q/Q Growth	657.63%	-96.77%	-1,338.46%	255.84%	-60.46%	158.97%	-72.75%	-33.14%	177.78%	-75.23%
Free Cash Flow Firm Q/Q Growth	202.25%	-8.53%	94.03%	112.14%	-165.72%	100.73%	14,213.91%	-147.37%	85.76%	-85.53%
Invested Capital Q/Q Growth	-13.47%	6.38%	12.37%	-9.02%	2.81%	-2.51%	5.38%	-0.09%	-2.15%	-0.30%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	7.34%	6.79%	8.64%	7.48%	8.34%	7.57%	7.59%	6.27%	6.85%	6.32%
EBITDA Margin	5.23%	4.85%	6.21%	5.09%	5.59%	4.19%	4.56%	3.49%	1.50%	3.94%
Operating Margin	3.91%	3.20%	4.95%	3.90%	4.22%	2.72%	3.16%	2.17%	-0.24%	1.87%
EBIT Margin	4.18%	3.87%	5.13%	4.05%	4.38%	2.98%	3.28%	2.21%	0.06%	2.60%
Profit (Net Income) Margin	4.20%	3.95%	4.87%	3.68%	3.80%	2.36%	3.29%	2.16%	0.09%	2.61%
Tax Burden Percent	84.31%	84.42%	83.89%	81.98%	79.92%	73.84%	81.24%	80.70%	16.67%	84.23%
Interest Burden Percent	119.19%	120.82%	113.03%	111.09%	108.41%	107.15%	123.60%	121.38%	981.82%	118.93%
Effective Tax Rate	15.69%	15.58%	16.11%	18.02%	20.08%	26.16%	18.76%	19.30%	83.33%	15.77%
Return on Invested Capital (ROIC)	19.09%	15.08%	20.66%	16.56%	17.96%	10.19%	11.68%	8.08%	-0.18%	7.09%
ROIC Less NNEP Spread (ROIC-NNEP)	15.50%	9.20%	16.46%	14.41%	16.60%	8.86%	7.93%	6.11%	-0.73%	2.11%
Return on Net Nonoperating Assets (RNNOA)	-4.15%	-2.14%	-2.74%	-3.29%	-4.49%	-2.18%	-1.38%	-1.19%	0.14%	-0.40%
Return on Equity (ROE)	14.94%	12.93%	17.92%	13.27%	13.47%	8.02%	10.31%	6.89%	-0.03%	6.69%
Cash Return on Invested Capital (CROIC)	18.10%	17.82%	17.05%	23.30%	6.66%	13.76%	16.68%	5.78%	6.45%	3.66%
Operating Return on Assets (OROA)	7.46%	6.78%	8.47%	6.89%	7.49%	4.90%	5.29%	3.62%	0.09%	4.13%
Return on Assets (ROA)	7.50%	6.92%	8.03%	6.27%	6.49%	3.87%	5.31%	3.55%	0.15%	4.14%
Return on Common Equity (ROCE)	14.76%	12.76%	17.69%	13.10%	13.29%	7.91%	10.17%	6.79%	-0.03%	6.61%
Return on Equity Simple (ROE_SIMPLE)	17.24%	0.00%	17.99%	16.68%	15.65%	0.00%	12.98%	11.59%	8.01%	0.00%
Net Operating Profit after Tax (NOPAT)	814	700	1,000	805	732	462	561	389	-7.83	339
NOPAT Margin	3.30%	2.70%	4.15%	3.20%	3.37%	2.01%	2.57%	1.75%	-0.04%	1.58%
Net Nonoperating Expense Percent (NNEP)	3.59%	5.87%	4.20%	2.15%	1.36%	1.33%	3.75%	1.97%	0.55%	4.99%
Return On Investment Capital (ROIC_SIMPLE)	-	2.09%	-	-	-	1.42%	-	-	-	1.05%
Cost of Revenue to Revenue	92.66%	93.21%	91.36%	92.52%	91.66%	92.43%	92.41%	93.73%	93.15%	93.68%
SG&A Expenses to Revenue	3.31%	3.46%	3.66%	3.34%	3.76%	4.00%	4.35%	4.08%	4.54%	4.39%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.43%	3.60%	3.69%	3.58%	4.12%	4.85%	4.44%	4.11%	7.08%	4.45%
Earnings before Interest and Taxes (EBIT)	1,032	1,004	1,236	1,019	951	685	716	491	11	560
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,292	1,258	1,495	1,281	1,212	962	996	777	299	847
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.78	1.96	1.68	1.59	1.55	1.52	1.36	1.34	1.30	1.08
Price to Tangible Book Value (P/TBV)	2.43	2.68	2.29	2.15	2.08	2.07	1.95	1.95	1.91	1.55
Price to Revenue (P/Rev)	0.43	0.47	0.41	0.40	0.40	0.39	0.34	0.33	0.33	0.28
Price to Earnings (P/E)	10.42	10.96	9.38	9.56	9.94	10.56	10.35	11.39	15.89	13.28
Dividend Yield	2.06%	1.85%	2.16%	2.34%	2.40%	2.61%	2.99%	3.17%	3.26%	4.00%
Earnings Yield	9.60%	9.12%	10.66%	10.46%	10.06%	9.47%	9.66%	8.78%	6.29%	7.53%
Enterprise Value to Invested Capital (EV/IC)	2.09	2.27	1.82	1.79	1.72	1.67	1.42	1.38	1.34	1.09
Enterprise Value to Revenue (EV/Rev)	0.36	0.41	0.37	0.33	0.34	0.33	0.31	0.31	0.30	0.25
Enterprise Value to EBITDA (EV/EBITDA)	6.60	7.52	6.61	6.27	6.32	6.34	6.29	6.89	8.53	7.19
Enterprise Value to EBIT (EV/EBIT)	8.14	9.23	8.08	7.78	7.87	8.06	8.31	9.57	13.60	11.80
Enterprise Value to NOPAT (EV/NOPAT)	10.66	12.02	10.51	10.05	10.22	10.46	10.95	12.69	19.53	17.42
Enterprise Value to Operating Cash Flow (EV/OCF)	8.79	11.96	12.19	6.61	16.40	7.03	4.14	5.75	5.14	7.52
Enterprise Value to Free Cash Flow (EV/FCFF)	11.66	12.84	10.72	7.43	27.35	12.32	8.34	24.50	20.85	30.16
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.36	0.37	0.42	0.34	0.33	0.34	0.42	0.47	0.45	0.45
Long-Term Debt to Equity	0.32	0.31	0.31	0.33	0.32	0.34	0.35	0.37	0.34	0.34
Financial Leverage	-0.27	-0.23	-0.17	-0.23	-0.27	-0.25	-0.17	-0.20	-0.20	-0.19
Leverage Ratio	2.38	2.45	2.51	2.35	2.27	2.33	2.33	2.27	2.24	2.30
Compound Leverage Factor	2.83	2.96	2.84	2.61	2.46	2.50	2.88	2.75	22.02	2.74
Debt to Total Capital	26.44%	27.16%	29.43%	25.54%	24.59%	25.48%	29.77%	31.98%	31.07%	31.17%
Short-Term Debt to Total Capital	3.23%	4.28%	7.73%	1.25%	0.34%	0.32%	5.18%	7.00%	7.61%	7.91%
Long-Term Debt to Total Capital	23.20%	22.89%	21.69%	24.28%	24.24%	25.16%	24.60%	24.98%	23.46%	23.26%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.97%	0.98%	0.94%	1.00%	1.04%	1.01%	0.95%	0.95%	0.91%	0.81%
Common Equity to Total Capital	72.59%	71.85%	69.63%	73.46%	74.37%	73.51%	69.27%	67.07%	68.02%	68.03%
Debt to EBITDA	1.61	1.66	1.85	1.63	1.59	1.69	2.24	2.68	3.31	3.48
Net Debt to EBITDA	-1.31	-1.15	-0.82	-1.24	-1.21	-1.16	-0.85	-0.69	-0.98	-1.09
Long-Term Debt to EBITDA	1.41	1.40	1.37	1.55	1.57	1.67	1.85	2.09	2.50	2.60
Debt to NOPAT	2.59	2.65	2.95	2.61	2.57	2.79	3.90	4.92	7.57	8.43
Net Debt to NOPAT	-2.11	-1.83	-1.31	-1.98	-1.96	-1.91	-1.48	-1.28	-2.24	-2.65
Long-Term Debt to NOPAT	2.27	2.24	2.17	2.48	2.54	2.75	3.22	3.85	5.72	6.29
Altman Z-Score	3.30	3.35	3.36	3.52	3.51	3.34	3.11	3.07	2.99	2.86
Noncontrolling Interest Sharing Ratio	1.22%	1.31%	1.28%	1.27%	1.35%	1.35%	1.35%	1.37%	1.35%	1.27%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.51	1.46	1.51	1.63	1.69	1.60	1.47	1.44	1.40	1.39
Quick Ratio	0.25	0.25	0.24	0.29	0.33	0.30	0.25	0.28	0.24	0.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	525	480	931	1,975	-1,298	9.51	1,362	-645	-92	-170
Operating Cash Flow to CapEx	1,179.77%	27.20%	-492.35%	874.22%	224.94%	585.19%	213.41%	129.28%	341.21%	65.45%
Free Cash Flow to Firm to Interest Expense	5.41	3.58	6.33	10.97	-8.37	0.06	8.20	-3.45	-0.53	-0.95
Operating Cash Flow to Interest Expense	41.47	0.97	-10.95	13.94	6.40	15.57	4.22	2.50	7.47	1.80
Operating Cash Flow Less CapEx to Interest Expense	37.96	-2.60	-13.18	12.34	3.55	12.91	2.24	0.57	5.28	-0.95
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.78	1.75	1.65	1.70	1.71	1.64	1.61	1.64	1.62	1.59
Accounts Receivable Turnover	23.29	24.66	23.43	21.15	21.24	20.51	21.21	20.91	21.19	21.54
Inventory Turnover	7.46	6.43	5.88	7.00	7.29	6.47	6.41	7.35	7.36	6.78
Fixed Asset Turnover	10.15	10.29	10.27	10.09	9.78	9.19	8.88	8.55	8.27	8.01
Accounts Payable Turnover	6.04	5.69	5.67	6.02	5.87	5.43	5.74	6.25	6.19	5.80
Days Sales Outstanding (DSO)	15.67	14.80	15.58	17.26	17.18	17.79	17.21	17.46	17.23	16.94
Days Inventory Outstanding (DIO)	48.90	56.80	62.10	52.15	50.05	56.44	56.95	49.63	49.59	53.84
Days Payable Outstanding (DPO)	60.39	64.10	64.42	60.67	62.20	67.24	63.57	58.40	58.99	62.90
Cash Conversion Cycle (CCC)	4.19	7.50	13.26	8.74	5.03	7.00	10.59	8.69	7.83	7.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	17,186	18,282	20,543	18,691	19,216	18,734	19,742	19,725	19,300	19,243
Invested Capital Turnover	5.79	5.59	4.97	5.18	5.32	5.08	4.55	4.62	4.52	4.50
Increase / (Decrease) in Invested Capital	289	220	69	-1,170	2,030	452	-801	1,034	84	509
Enterprise Value (EV)	35,950	41,581	37,480	33,388	33,138	31,370	28,018	27,213	25,890	20,983
Market Capitalization	42,761	47,583	41,797	39,636	39,150	36,768	31,495	29,636	28,564	23,908
Book Value per Share	$42.81	$44.21	$45.36	$45.79	$47.06	$45.24	$45.54	$44.79	$45.96	$46.32
Tangible Book Value per Share	$31.46	$32.29	$33.35	$33.78	$35.14	$33.36	$31.71	$30.70	$31.32	$32.18
Total Capital	33,059	33,796	35,703	33,949	33,922	32,830	33,519	33,021	32,303	32,588
Total Debt	8,740	9,180	10,506	8,670	8,341	8,365	9,980	10,560	10,036	10,157
Total Long-Term Debt	7,671	7,735	7,745	8,244	8,224	8,259	8,245	8,247	7,578	7,580
Net Debt	-7,133	-6,334	-4,654	-6,588	-6,365	-5,731	-3,797	-2,736	-2,967	-3,188
Capital Expenditures (CapEx)	341	478	327	287	441	439	328	362	381	492
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,258	2,617	4,721	2,731	3,297	2,615	2,800	2,852	2,220	2,288
Debt-free Net Working Capital (DFNWC)	12,702	12,664	14,356	12,324	12,534	11,211	11,011	10,591	10,081	10,357
Net Working Capital (NWC)	11,633	11,219	11,595	11,898	12,417	11,105	9,276	8,278	7,623	7,780
Net Nonoperating Expense (NNE)	-223	-324	-172	-123	-92	-80	-158	-92	-26	-222
Net Nonoperating Obligations (NNO)	-7,133	-6,334	-4,654	-6,588	-6,365	-5,731	-3,797	-2,736	-2,967	-3,188
Total Depreciation and Amortization (D&A)	260	254	259	262	261	277	280	286	288	287
Debt-free, Cash-free Net Working Capital to Revenue	2.29%	2.58%	4.63%	2.73%	3.40%	2.78%	3.05%	3.21%	2.55%	2.68%
Debt-free Net Working Capital to Revenue	12.87%	12.47%	14.08%	12.34%	12.94%	11.93%	12.01%	11.93%	11.59%	12.11%
Net Working Capital to Revenue	11.79%	11.05%	11.37%	11.91%	12.81%	11.82%	10.11%	9.33%	8.76%	9.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.84	$1.84	$2.13	$0.00	$1.52	$1.09	$1.42	$0.99	$0.04	$1.21
Adjusted Weighted Average Basic Shares Outstanding	561M	562M	550M	0.00	540M	541M	513M	492M	482M	492M
Adjusted Diluted Earnings per Share	$1.83	$1.84	$2.12	$0.00	$1.52	$1.09	$1.42	$0.98	$0.04	$1.21
Adjusted Weighted Average Diluted Shares Outstanding	563M	563M	551M	0.00	540M	542M	514M	493M	483M	493M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	549.33M	548.01M	544.63M	0.00	533.38M	509.85M	494.44M	478.14M	478.53M	479.71M
Normalized Net Operating Profit after Tax (NOPAT)	837	730	1,006	854	795	606	575	395	322	350
Normalized NOPAT Margin	3.39%	2.82%	4.18%	3.39%	3.67%	2.64%	2.63%	1.77%	1.62%	1.63%
Pre Tax Income Margin	4.98%	4.68%	5.80%	4.49%	4.75%	3.19%	4.05%	2.68%	0.54%	3.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.64	7.49	8.41	5.66	6.14	4.15	4.31	2.63	0.06	3.13
NOPAT to Interest Expense	8.39	5.22	6.80	4.47	4.72	2.80	3.38	2.08	-0.05	1.89
EBIT Less CapEx to Interest Expense	7.12	3.93	6.18	4.07	3.29	1.49	2.34	0.69	-2.13	0.38
NOPAT Less CapEx to Interest Expense	4.87	1.66	4.58	2.88	1.88	0.14	1.40	0.14	-2.23	-0.86
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	21.39%	20.60%	20.59%	22.59%	24.32%	28.19%	32.72%	38.43%	55.85%	55.82%
Augmented Payout Ratio	50.39%	53.81%	60.85%	76.69%	58.97%	105.31%	153.83%	194.27%	276.42%	186.62%

Frequently Asked Questions About Archer-Daniels-Midland's Financials

When does Archer-Daniels-Midland's financial year end?

According to the most recent income statement we have on file, Archer-Daniels-Midland's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Archer-Daniels-Midland's net income changed over the last 9 years?

Archer-Daniels-Midland's net income appears to be on an upward trend, with a most recent value of $1.78 billion in 2024, falling from $1.85 billion in 2015. The previous period was $3.47 billion in 2023.

What is Archer-Daniels-Midland's operating income?

Archer-Daniels-Midland's total operating income in 2024 was $1.53 billion, based on the following breakdown:

Total Gross Profit: $5.78 billion
Total Operating Expenses: $4.25 billion

How has Archer-Daniels-Midland revenue changed over the last 9 years?

Over the last 9 years, Archer-Daniels-Midland's total revenue changed from $67.70 billion in 2015 to $85.53 billion in 2024, a change of 26.3%.

How much debt does Archer-Daniels-Midland have?

Archer-Daniels-Midland's total liabilities were at $30.84 billion at the end of 2024, a 2.2% increase from 2023, and a 38.7% increase since 2015.

How much cash does Archer-Daniels-Midland have?

In the past 9 years, Archer-Daniels-Midland's cash and equivalents has ranged from $611 million in 2024 to $2.00 billion in 2018, and is currently $611 million as of their latest financial filing in 2024.

How has Archer-Daniels-Midland's book value per share changed over the last 9 years?

Over the last 9 years, Archer-Daniels-Midland's book value per share changed from 29.99 in 2015 to 46.32 in 2024, a change of 54.4%.

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This page (NYSE:ADM) was last updated on 4/14/2025 by MarketBeat.com Staff

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Archer-Daniels-Midland (ADM) Financials

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Archer-Daniels-Midland (ADM) Financials

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