Archer Daniels Midland Co (ADM) financial statements: income statement, balance sheet and cash flow

Archer Daniels Midland Co's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Archer Daniels Midland Co reported revenue of $80.3B (-6.2% year on year) and net income of $1.1B (-40.1% year on year).

Income statement

Archer Daniels Midland Co income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenues	$80.3B	$85.5B	$93.9B	$101.6B
Cost of products sold	$75.2B	$79.8B	$86.4B	$94.0B
Gross Profit	$5.0B	$5.8B	$7.5B	$7.6B
Selling, general, and administrative expenses	$3.6B	$3.7B	$3.5B	$3.4B
Asset impairment, exit, and restructuring costs	$473.0M	$545.0M	$342.0M	$66.0M
Equity in (earnings) of unconsolidated affiliates	($648.0M)	($621.0M)	($551.0M)	($832.0M)
Interest and investment (income)	($118.0M)	($562.0M)	($499.0M)	($293.0M)
Interest expense	$612.0M	$706.0M	$647.0M	$396.0M
Other (income) - net	($150.0M)	($251.0M)	($176.0M)	($358.0M)
Earnings Before Income Taxes	$1.3B	$2.3B	$4.3B	$5.2B
Income tax expense	$182.0M	$476.0M	$828.0M	$868.0M
Net Earnings Including Non-controlling Interests	$1.1B	$1.8B	$3.5B	$4.4B
Net loss attributable to non-controlling interests	($5.0M)	($21.0M)	($17.0M)	$25.0M
Net Earnings Attributable to Controlling Interests	$1.1B	$1.8B	$3.5B	$4.3B
Weighted average number of shares outstanding – basic (in shares)	484.0M	492.0M	541.0M	562.0M
Weighted average number of shares outstanding – diluted (in shares)	484.0M	493.0M	542.0M	563.0M
Basic earnings per common share (in dollars per share)	$2.23	$3.66	$6.44	$7.72
Diluted earnings per common share (in dollars per share)	$2.23	$3.65	$6.43	$7.71

Archer Daniels Midland Co income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Revenues	$22.7B	$20.5B	$20.4B	$21.2B
Cost of products sold	$20.7B	$19.3B	$19.1B	$19.8B
Gross Profit	$1.9B	$1.2B	$1.3B	$1.4B
Selling, general, and administrative expenses	$1.0B	$961.0M	$873.0M	$911.0M
Asset impairment, exit, and restructuring costs	$13.0M	$12.0M	$246.0M	$137.0M
Equity in (earnings) of unconsolidated affiliates	($142.0M)	($89.0M)	$41.0M	($134.0M)
Interest and investment (income) expense	($116.0M)	($125.0M)	($121.0M)	$70.0M
Interest expense	$148.0M	$149.0M	$153.0M	$159.0M
Other (income) – net	($82.0M)	($70.0M)	($69.0M)	($52.0M)
Earnings Before Income Taxes	$1.1B	$384.0M	$147.0M	$279.0M
Income tax expense	$176.0M	$81.0M	$37.0M	$62.0M
Net Earnings Including Non-controlling Interests	$912.0M	$303.0M	$110.0M	$217.0M
Net earnings (loss) attributable to non-controlling interests	$4.0M	$5.0M	$2.0M	($2.0M)
Net Earnings Attributable to Archer-Daniels-Midland Company	$908.0M	$298.0M	$108.0M	$219.0M
Weighted average number of shares outstanding - basic (in shares)	485.0M	484.0M	484.0M	484.0M
Weighted average number of shares outstanding – diluted (in shares)	485.0M	484.0M	484.0M	484.0M
Basic earnings per common share (in dollars per share)	$1.87	$0.62	$0.22	$0.45
Diluted earnings per common share (in dollars per share)	$1.87	$0.62	$0.22	$0.45
Dividends per common share (in dollars per share)	$0.52	$0.52	$0.51	$0.51

Balance sheet

Archer Daniels Midland Co balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$1.0B	$611.0M	$1.4B	$1.0B
Short-term marketable securities	$32.0M	$246.0M	—	—
Segregated cash and investments	$8.4B	$7.2B	$7.2B	—
Trade receivables - net	$3.0B	$3.7B	$4.2B	$4.9B
Inventories	$10.4B	$11.6B	$12.0B	$14.8B
Other current assets	$3.8B	$4.4B	$5.0B	$5.7B
Total Current Assets	$26.7B	$27.7B	$29.8B	$35.4B
Investments in affiliates	$5.6B	$5.3B	$5.5B	$5.5B
Goodwill	$4.8B	—	—	—
Intangible assets, net	$2.0B	—	—	—
Right of use assets	$1.3B	$1.4B	$1.2B	$1.1B
Other non-current assets	$918.0M	$1.3B	$1.3B	$1.3B
Property, plant, and equipment, net	$11.2B	$10.8B	$10.5B	$9.9B
Total Non-Current Assets	$25.7B	—	—	—
Total Assets	$52.4B	$53.3B	$54.6B	$59.8B
Short-term debt	$798.0M	$1.9B	$105.0M	$503.0M
Current maturities of long-term debt	$1.0B	$674.0M	$1.0M	$942.0M
Trade payables	$5.2B	$5.5B	$6.3B	$7.8B
Payables to brokerage customers	$8.9B	$7.8B	$7.9B	$9.9B
Accrued expenses and other payables	$3.3B	$3.7B	$4.1B	$4.8B
Current lease liabilities	$303.0M	$324.0M	$300.0M	$292.0M
Total Current Liabilities	$19.5B	$19.9B	$18.7B	$24.2B
Long-term debt	$6.6B	$7.6B	$8.3B	$7.7B
Deferred income taxes	$1.1B	$1.3B	$1.3B	$1.4B
Non-current lease liabilities	$1.0B	$1.1B	$931.0M	$816.0M
Other	$1.0B	$997.0M	$1.0B	$1.0B
Total Long-Term Liabilities	$9.8B	$10.9B	$11.5B	$11.0B
Temporary Equity - Redeemable non-controlling interest	$287.0M	$253.0M	—	—
Common stock	$3.3B	$3.2B	$3.2B	$3.1B
Reinvested earnings	$22.0B	$21.9B	$23.5B	$23.6B
Accumulated other comprehensive income (loss)	($2.5B)	($3.0B)	($2.5B)	($2.5B)
Non-controlling interests	$7.0M	$10.0M	$13.0M	$33.0M
Total Shareholders’ Equity	$22.7B	$22.2B	$24.1B	$24.3B
Total Liabilities, Temporary Equity, and Shareholders’ Equity	$52.4B	$53.3B	$54.6B	$59.8B

Archer Daniels Midland Co balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$1.1B	$591.0M	$1.2B	$1.1B
Short-term marketable securities	$33.0M	$33.0M	$0	$9.0M
Segregated cash and investments	$8.5B	$9.5B	$8.4B	$7.5B
Trade receivables, net	$3.3B	$3.7B	$3.6B	$3.7B
Inventories	$10.6B	$11.7B	$8.7B	$9.7B
Other current assets	$4.3B	$4.4B	$4.4B	$4.3B
Total Current Assets	$27.8B	$30.0B	$26.4B	$26.3B
Investments in affiliates	$5.9B	$5.8B	$5.2B	$5.2B
Goodwill	$4.7B	$4.7B	$4.8B	$4.8B
Intangible assets	$1.8B	$1.9B	$2.0B	$2.3B
Right of use assets	$1.3B	$1.3B	$1.3B	$1.4B
Other non-current assets	$1.0B	$970.0M	$1.1B	$988.0M
Property, plant, and equipment, net	$11.0B	$11.0B	$11.1B	$11.1B
Total Non-Current Assets	$25.7B	$25.6B	$25.5B	$25.7B
Total Assets	$53.5B	$55.6B	$51.9B	$52.0B
Short-term debt	$407.0M	$1.7B	$246.0M	$856.0M
Current maturities of long-term debt	$1.2B	$1.2B	$1.0B	$766.0M
Trade payables	$5.0B	$5.5B	$5.0B	$4.5B
Payables to brokerage customers	$9.2B	$10.2B	$9.7B	$8.6B
Accrued expenses and other payables	$4.0B	$4.1B	$3.1B	$3.5B
Current lease liabilities	$305.0M	$300.0M	$312.0M	$323.0M
Total Current Liabilities	$20.0B	$22.9B	$19.3B	$18.5B
Long-term debt	$6.5B	$6.5B	$6.6B	$7.6B
Deferred income taxes	$1.1B	$1.1B	$1.1B	$1.1B
Non-current lease liabilities	$1.0B	$1.0B	$1.0B	$1.1B
Other	$1.1B	$1.1B	$1.1B	$1.0B
Total Long-Term Liabilities	$9.6B	$9.6B	$9.9B	$10.8B
Temporary Equity - Redeemable non-controlling interest	$292.0M	$292.0M	$250.0M	$249.0M
Common stock	$3.4B	$3.3B	$3.3B	$3.3B
Reinvested earnings	$22.7B	$22.0B	$21.8B	$22.0B
Accumulated other comprehensive income (loss)	($2.5B)	($2.5B)	($2.6B)	($2.8B)
Non-controlling interests	$7.0M	$7.0M	$8.0M	$8.0M
Total Shareholders’ Equity	$23.6B	$22.8B	$22.5B	$22.4B
Total Liabilities, Temporary Equity, and Shareholders’ Equity	$53.5B	$55.6B	$51.9B	$52.0B

Cash flow statement

Archer Daniels Midland Co cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net earnings including non-controlling interests	$1.1B	$1.8B	$3.5B	$4.4B
Depreciation and amortization	$1.2B	$1.1B	$1.1B	$1.0B
Asset impairment charges	$361.0M	$519.0M	$309.0M	$37.0M
Deferred income taxes	($45.0M)	($130.0M)	($23.0M)	($89.0M)
Equity in earnings of unconsolidated affiliates, net of dividends	($224.0M)	($180.0M)	($143.0M)	($457.0M)
Stock compensation expense	$83.0M	$74.0M	$112.0M	$147.0M
(Gain) loss on asset sales / investment revaluations, net	$285.0M	($12.0M)	—	—
Other – net	($25.0M)	$131.0M	($106.0M)	$178.0M
Segregated investments	($43.0M)	($693.0M)	($194.0M)	$1.5B
Trade receivables	$855.0M	$447.0M	$737.0M	($1.7B)
Inventories	$1.5B	$162.0M	$2.9B	($295.0M)
Other current assets	$672.0M	$665.0M	$694.0M	($279.0M)
Trade payables	($473.0M)	($719.0M)	($1.5B)	$1.4B
Payables to brokerage customers	$1.1B	($78.0M)	($2.1B)	$891.0M
Accrued expenses and other payables	($823.0M)	($276.0M)	($790.0M)	($44.0M)
Net cash provided by operating activities	$5.5B	$2.8B	$4.5B	$3.5B
Capital expenditures	($1.2B)	($1.6B)	($1.5B)	($1.3B)
Net assets of businesses acquired	($108.0M)	($927.0M)	($23.0M)	($22.0M)
Proceeds from sales of assets, businesses and investments	$111.0M	$66.0M	—	—
Purchases of marketable securities	($43.0M)	($308.0M)	—	—
Proceeds from sales of marketable securities	$277.0M	$84.0M	—	—
Other – net	($6.0M)	$4.0M	($21.0M)	$42.0M
Net cash used in investing activities	($1.0B)	($2.7B)	($1.5B)	($1.4B)
Long-term debt borrowings	$11.0M	$27.0M	—	—
Long-term debt payments	($772.0M)	($1.0M)	($963.0M)	($482.0M)
Net (repayments) borrowings under lines of credit agreements	($1.1B)	$1.8B	($390.0M)	($428.0M)
Share repurchases, net of tax	$0	($2.3B)	($2.7B)	($1.4B)
Cash dividends	($987.0M)	($985.0M)	($977.0M)	($899.0M)
Acquisition of non-controlling interests	($4.0M)	($8.0M)	—	—
Other – net	($21.0M)	($36.0M)	($102.0M)	$8.0M
Net cash used in financing activities	($2.9B)	($1.5B)	($4.6B)	($2.5B)
Effect of exchange rate on cash, cash equivalents, restricted cash, and restricted cash equivalents	$33.0M	($24.0M)	($3.0M)	—
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents	$1.6B	($1.5B)	($1.6B)	($421.0M)
Cash, cash equivalents, restricted cash, and restricted cash equivalents – beginning of year	$3.9B	$5.4B	$7.0B	$7.5B
Cash, cash equivalents, restricted cash, and restricted cash equivalents – end of year	$5.5B	$3.9B	—	—
Interest	$629.0M	$710.0M	$711.0M	$409.0M
Income taxes	$389.0M	$658.0M	$742.0M	$708.0M

Archer Daniels Midland Co cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net earnings including non-controlling interests	$1.2B	$303.0M	$619.0M	$509.0M
Depreciation and amortization	$586.0M	$293.0M	$874.0M	$578.0M
Asset impairment charges	$5.0M	—	$337.0M	$105.0M
Deferred income taxes	($112.0M)	($112.0M)	($54.0M)	($59.0M)
Equity in earnings of unconsolidated affiliates, net of dividends	($8.0M)	($10.0M)	$125.0M	($18.0M)
Stock compensation expense	$138.0M	$64.0M	$93.0M	$72.0M
(Gain) loss on asset contributions, sales and investment revaluation, net	($85.0M)	($57.0M)	$103.0M	$150.0M
Other – net	$20.0M	($39.0M)	($10.0M)	($104.0M)
Segregated investments	($177.0M)	($64.0M)	$113.0M	$1.3B
Trade receivables	($379.0M)	($726.0M)	$231.0M	$197.0M
Inventories	($298.0M)	($1.4B)	$3.2B	$2.2B
Other current assets	($549.0M)	($552.0M)	($190.0M)	($41.0M)
Trade payables	($185.0M)	$245.0M	($637.0M)	($1.2B)
Payables to brokerage customers	$276.0M	$1.3B	$1.8B	$708.0M
Accrued expenses and other payables	$852.0M	$940.0M	($802.0M)	($397.0M)
Net cash provided by operating activities	$1.3B	$150.0M	$5.8B	$4.0B
Capital expenditures	($466.0M)	($194.0M)	($892.0M)	($596.0M)
Net assets of businesses acquired	$0	$0	($108.0M)	($95.0M)
Proceeds from sales of assets, businesses and investments	$56.0M	$26.0M	—	—
Purchases of marketable securities	$0	$0	($11.0M)	($11.0M)
Proceeds from sales of marketable securities	$6.0M	$4.0M	$276.0M	$267.0M
Other – net	$31.0M	$36.0M	$13.0M	$3.0M
Net cash used in investing activities	($373.0M)	($128.0M)	($644.0M)	($391.0M)
Long-term debt payments	($5.0M)	—	($763.0M)	—
Net repayments under lines of credit agreements	($389.0M)	$919.0M	($1.7B)	($1.1B)
Cash dividends	($510.0M)	($254.0M)	($743.0M)	($495.0M)
Acquisition of non-controlling interest	$0	—	($4.0M)	($4.0M)
Other – net	($51.0M)	($53.0M)	($21.0M)	($23.0M)
Net cash used in financing activities	($955.0M)	$612.0M	($3.2B)	($1.6B)
Effect of exchange rate on cash, cash equivalents, restricted cash, and restricted cash equivalents	($19.0M)	($27.0M)	$27.0M	$34.0M
(Decrease) increase in cash, cash equivalents, restricted cash, and restricted cash equivalents	($48.0M)	$607.0M	$2.0B	$2.0B
Cash, cash equivalents, restricted cash, and restricted cash equivalents - beginning of period	$5.5B	$5.5B	$3.9B	$3.9B
Cash, cash equivalents, restricted cash, and restricted cash equivalents - end of period	$5.5B	$6.1B	$5.9B	$5.9B

Archer Daniels Midland Co score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.