Archer-Daniels-Midland Company (ADM) Income Statement
ADM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsADM revenue and net income
Where ADM's revenue goes
2025Each bar shows an amount and its share of revenue. ADM kept 1.3% of revenue as net income.
ADM profit margins
ADM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −6.2% | −7.5% | +4.5% | +1.7% |
| Gross profit | −12.9% | −12.7% | +2.5% | +2.4% |
| Operating income | −31.3% | −30.3% | −4.2% | −3.2% |
| Net income | −40.1% | −37.1% | −9.5% | −5.3% |
| EPS (diluted) | −27.5% | −24.2% | −1.0% | +2.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ADM quarterly EPS vs estimates
ADM beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 3, 2026 (estimate $1.44).
ADM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $80.27B | $85.53B | $93.94B | $101.56B | $85.25B | $64.36B | $64.66B | $64.34B | $60.83B | $62.35B |
| Cost of revenue | $75.24B | $79.75B | $86.42B | $93.99B | $79.26B | $59.90B | $60.51B | $60.16B | $57.31B | $58.73B |
| Gross profit | $5.03B | $5.78B | $7.51B | $7.57B | $5.99B | $4.45B | $4.15B | $4.18B | $3.52B | $3.62B |
| Research & development | — | $269.0M | $256.0M | $216.0M | $171.0M | $160.0M | $154.0M | $141.0M | $129.0M | $123.0M |
| Sales, general & admin | $3.61B | $3.71B | $3.46B | $3.31B | $2.99B | $2.69B | $2.49B | $2.17B | $1.99B | $2.04B |
| Total operating expenses | $3.61B | $3.71B | $3.46B | $3.36B | $2.99B | $2.69B | $2.49B | $2.17B | $1.98B | $1.98B |
| Operating income | $1.42B | $2.07B | $4.06B | $4.21B | $2.99B | $1.77B | $1.65B | $2.02B | $1.54B | $1.64B |
| Interest income | $154.0M | $562.0M | $499.0M | $720.0M | $96.0M | $88.0M | $192.0M | $162.0M | $106.0M | $92.0M |
| Interest expense | $612.0M | $706.0M | $653.0M | $405.0M | $284.0M | $320.0M | $403.0M | $365.0M | $331.0M | $291.0M |
| Income before taxes | $1.25B | $2.25B | $4.29B | $5.23B | $3.31B | $1.88B | $1.59B | $2.06B | $1.61B | $1.82B |
| Income taxes | $182.0M | $476.0M | $828.0M | $868.0M | $578.0M | $101.0M | $209.0M | $245.0M | $7.0M | $534.0M |
| Net income | $1.08B | $1.80B | $3.48B | $4.34B | $2.71B | $1.77B | $1.38B | $1.81B | $1.59B | $1.28B |
| EBITDA | $3.05B | $4.10B | $6.00B | $6.66B | $4.57B | $3.20B | $2.98B | $3.37B | $2.86B | $3.02B |
| EPS (diluted) | $3.42 | $4.72 | $6.97 | $7.84 | $5.19 | $3.59 | $3.25 | $3.50 | $2.44 | $2.17 |
| Gross margin | 6.3% | 6.8% | 8.0% | 7.5% | 7.0% | 6.9% | 6.4% | 6.5% | 5.8% | 5.8% |
| Operating margin | 1.8% | 2.4% | 4.3% | 4.1% | 3.5% | 2.7% | 2.6% | 3.1% | 2.5% | 2.6% |
| Net margin | 1.3% | 2.1% | 3.7% | 4.3% | 3.2% | 2.8% | 2.1% | 2.8% | 2.6% | 2.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.68B | $20.49B | $18.56B | $20.37B | $21.19B | $20.18B | $21.50B | $19.94B | $22.25B | $21.85B | $22.98B | $21.70B |
| Cost of revenue | $20.75B | $19.27B | $17.34B | $19.10B | $20.19B | $19.00B | $20.14B | $18.57B | $20.85B | $20.19B | $21.24B | $19.89B |
| Gross profit | $1.94B | $1.22B | $1.21B | $1.27B | $995.0M | $1.18B | $1.36B | $1.36B | $1.40B | $1.66B | $1.74B | $1.81B |
| Research & development | — | — | — | — | — | — | $269.0M | — | — | — | $256.0M | — |
| Sales, general & admin | $1.03B | $961.0M | $893.0M | $873.0M | $911.0M | $932.0M | $943.0M | $905.0M | $907.0M | $951.0M | $919.0M | $815.0M |
| Total operating expenses | $1.04B | $814.0M | $893.0M | $873.0M | $895.0M | $932.0M | $943.0M | $905.0M | $907.0M | $951.0M | $919.0M | $815.0M |
| Operating income | $896.0M | $408.0M | $320.0M | $397.0M | $100.0M | $248.0M | $415.0M | $460.0M | $489.0M | $708.0M | $821.0M | $995.0M |
| Interest income | $116.0M | $125.0M | $198.0M | $121.0M | $95.0M | $138.0M | $162.0M | $137.0M | $140.0M | $123.0M | $71.0M | $80.0M |
| Interest expense | $148.0M | $149.0M | $142.0M | $153.0M | $159.0M | $158.0M | $179.0M | $174.0M | $187.0M | $166.0M | $165.0M | $155.0M |
| Income before taxes | $1.09B | $384.0M | $476.0M | $147.0M | $279.0M | $353.0M | $667.0M | $108.0M | $596.0M | $885.0M | $734.0M | $1.03B |
| Income taxes | $176.0M | $81.0M | $22.0M | $37.0M | $62.0M | $61.0M | $106.0M | $90.0M | $115.0M | $166.0M | $192.0M | $207.0M |
| Net income | $908.0M | $298.0M | $456.0M | $108.0M | $219.0M | $295.0M | $567.0M | $18.0M | $486.0M | $729.0M | $565.0M | $821.0M |
| EBITDA | $1.53B | $826.0M | $925.0M | $564.0M | $729.0M | $798.0M | $1.13B | $570.0M | $1.07B | $1.33B | $1.18B | $1.45B |
| EPS (diluted) | $1.84 | $0.71 | $0.87 | $0.92 | $0.93 | $0.70 | $1.14 | $1.09 | $1.03 | $1.46 | $1.36 | $1.63 |
| Gross margin | 8.5% | 6.0% | 6.5% | 6.2% | 4.7% | 5.8% | 6.3% | 6.8% | 6.3% | 7.6% | 7.6% | 8.3% |
| Operating margin | 4.0% | 2.0% | 1.7% | 1.9% | 0.5% | 1.2% | 1.9% | 2.3% | 2.2% | 3.2% | 3.6% | 4.6% |
| Net margin | 4.0% | 1.5% | 2.5% | 0.5% | 1.0% | 1.5% | 2.6% | 0.1% | 2.2% | 3.3% | 2.5% | 3.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ADM's financial statements (latest annual report filed February 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ADM financial results
In fiscal year 2025 (ended December 31, 2025), ADM reported revenue of $80.3 billion, down 6.2% from the year before. It had net income of $1.1 billion (down 40.1%), a net profit margin of 1.3%. Diluted earnings per share came to $3.42. Over five years revenue grew at an average rate of 4.5% a year.
See the ADM stock overview for the latest quote and news, or the ADM chart for price history and technical indicators.
ADM income statement FAQ
What is ADM's annual revenue?
ADM reported total revenue of $80.3 billion for fiscal year 2025, which ended on December 31, 2025. That was down 6.2% from $85.5 billion the previous year.
Is ADM profitable?
Yes. ADM reported net income of $1.1 billion in fiscal 2025, a net profit margin of 1.3%; its operating margin was 1.8%.
What is ADM's gross margin?
ADM's gross margin was 6.3% in fiscal 2025: for every $100 of revenue, ADM kept $6 after the direct cost of its products and services.
How fast is ADM growing?
Revenue grew 4.5% a year on average over the last five fiscal years, from $64.4 billion to $80.3 billion.
What are ADM's earnings per share?
ADM earned $3.42 per diluted share in fiscal 2025, compared with $4.72 a year earlier.
When will ADM report its next earnings?
ADM is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 before the market opens.
When does ADM's fiscal year end?
ADM's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 17, 2026.