Archer-Daniels-Midland CompanyADM
NYSE•Consumer Defensive•Farm Products
Archer-Daniels-Midland Company provides human and animal nutrition ingredients and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds; Carbohydrate Solutions; and Nutrition. The company engages in the origination, merchandising, transportation, and storage of agricultural raw materials, as well as the crushing and processing of oilseeds, including soybeans and soft seeds, such as cottonseed, sunflower seed, canola, rapeseed, and flaxseed; produces and markets vegetable oils and oilseed protein meals used by food, feed, energy, and industrial customers; sale of crude and partially refined vegetable oils; supplies peanuts and peanut-derived ingredients; and manufactures cotton cellulose pulp. It is also involved in the grain sourcing, handling, and multimodal transportation network supporting import, export, and distribution activities; structured trade finance activities; corn and wheat wet and dry milling and related processing activities; production of distillers' grains, corn gluten feed, and corn gluten meal for use as animal feed ingredients; and carbon capture and sequestration and other emissions-reduction initiatives. In addition, the company engages in the creation, manufacturing, sale, and distribution of an array of ingredients and solutions comprising plant-based proteins, flavors and colors derived from nature, flavor systems, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, postbiotics, enzymes, botanical extracts, and other specialty food and feed ingredients and systems. Further, it is involved in the derivatives and commodity exchanges and clearing houses; and insurance coverage for certain property, casualty, marine, medical, and other miscellaneous risks. The company was founded in 1902 and is based in Chicago, Illinois.
Archer-Daniels-Midland Company (ADM) reported trailing twelve months revenue of $80.58B as of March 2026, a 3.9% decline year-over-year. Quarterly revenue reached $20.49B, reflecting a contraction in sales.
Archer-Daniels-Midland Company generated $1.08B in TTM net income, with quarterly EBITDA of $607.00M. The operating margin contracted from 1.7% to 1.5%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (1.5%) and net margin (1.5%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 1.5% a year ago, reflecting increased costs or interest expense.
ADM trades at a P/E of 32.1x (a premium multiple) and a P/S of 0.4x. The price-to-book ratio of 1.5x reflects a moderate premium to book value.
The company reported negative free cash flow of $-44.00M, indicating cash consumption over the period. The balance sheet shows $55.60B in total assets with $6.46B in long-term debt against $22.52B in stockholders equity for a debt-to-equity ratio of 0.3, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~1.6% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~6.8% on average, adequate but below the threshold typically associated with wide moats.
Only 4 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 20.4% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 0.3 — conservative capital structure with low financial risk.
Revenue declined in 5 of the last 7 quarters — persistent contraction signals a fundamental problem.
4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation