ADM Archer-Daniels-Midland Co

Overview and Growth

Fiscal 2025 results for Archer-Daniels-Midland Co combined $80.27B of revenue with net income of $1.08B and an operating cash inflow of $5.45B. At $80.27B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 6.2% below fiscal 2024 revenue of $85.53B, marking a top-line contraction. On a per-share basis, diluted EPS was $2.23, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 38.9% decrease from fiscal 2024 diluted EPS of $3.65. Revenue equaled 1.53x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $5.03B as gross profit before recognizing operating expenses and other items. Gross profit represented 6.3% of revenue, showing how much of the top line remained after direct costs. After all reported below-operating-line items, the company recorded net income of $1.08B for the fiscal year. Measured against reported revenue, net income produced a 1.3% margin after operating costs and the remaining recognized items. The earnings statement records $1.25B of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 1.6% of revenue, placing earnings before tax in the context of the company’s operating scale. Income tax expense totaled $182.00M, providing the reported tax component that separates pretax and after-tax earnings. The income-tax provision equaled 14.5% of pretax income, showing the tax burden absorbed by the year’s earnings. The relationship between net income and period-end equity was 4.7%, indicating the profitability achieved on book capital. Return on period-end assets was 2.1%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

The company held $52.39B of assets against $29.36B of liabilities and $22.74B of equity, revealing how the asset base was financed. The near-term balance sheet paired $26.66B of current assets with $19.53B of current liabilities at the reporting date. At 1.37x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. The company held $1.01B in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 5.2% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $7.61B, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 0.33x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 14.5%, comparing borrowing with the total asset balance. Liabilities represented 56.0% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 1.9% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 1.7% from $53.27B in fiscal 2024, leaving current total assets lower year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $5.45B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 5.06x, comparing cash generated by operations with the bottom-line earnings result. Capital spending was $1.25B, absorbing part of the cash generated from operations before free cash flow. Capital spending absorbed 22.9% of operating cash flow, quantifying the share of cash from operations directed to investment. The combination of operating cash flow and capital spending produced $4.20B of positive free cash flow for the period. The free-cash-flow margin was 5.2%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 8.0%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.