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Archer Daniels Midland key statistics and ratios

In fiscal 2025, Archer Daniels Midland had return on equity of 4.8%, a net margin of 1.3%, debt equal to 37.0% of equity and a current ratio of 1.37. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Jun 20092010Jun 20102011Jun 20112012Jun 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin5.9%6.2%5.3%4.1%4.3%5.9%5.9%5.8%5.8%6.5%6.4%6.9%7.0%7.5%8.0%6.8%6.3%6.9%
Net margin2.4%3.1%2.5%1.4%1.5%2.8%2.7%2.1%2.6%2.8%2.1%2.8%3.2%4.3%3.7%2.1%1.3%2.2%
Free-cash-flow margin5.0%1.7%−4.4%1.6%4.8%5.0%0.9%−11.9%−11.5%−8.7%−9.7%−5.0%6.4%2.1%3.2%1.4%5.2%2.0%
Return on equity12.3%13.6%12.2%6.6%7.0%11.3%9.8%7.3%9.0%9.7%7.2%9.0%12.7%18.5%14.4%7.8%4.8%7.6%
Return on assets5.3%6.1%5.5%2.9%3.1%5.1%4.4%3.2%4.0%4.5%3.3%3.8%5.1%7.5%6.1%3.3%2.0%3.3%
Asset turnover2.191.952.182.122.101.851.611.561.531.591.521.371.611.751.641.591.521.55
Current ratio2.182.082.081.841.821.671.621.601.591.751.551.501.451.461.601.391.371.39
Debt to equity58.6%51.6%54.8%56.8%34.0%28.8%32.8%40.3%36.2%44.2%46.2%49.6%42.4%37.8%34.6%45.8%37.0%34.0%
Effective tax rate—25.8%33.1%29.6%33.1%28.0%19.2%29.3%0.4%11.9%13.2%5.4%17.4%16.6%19.3%21.1%14.5%15.1%
R&D as % of revenue0.1%0.1%0.1%0.1%0.1%0.1%0.2%0.2%0.2%0.2%0.2%0.2%0.2%0.2%0.3%0.3%0.3%—
SG&A as % of revenue2.0%2.3%2.0%1.8%2.0%2.4%2.9%3.2%3.3%3.4%3.9%4.2%3.5%3.3%3.7%4.3%4.5%4.6%
Capital spending as % of revenue2.7%2.6%1.5%1.7%1.0%1.1%1.7%1.4%1.7%1.3%1.3%1.3%1.4%1.3%1.6%1.8%1.6%1.4%
Free cash flow ÷ net income204.5%55.8%−176.2%115.9%321.4%180.1%31.4%−577.8%−439.8%−310.8%−455.4%−181.1%200.3%49.7%85.2%68.2%390.0%94.7%
Dividends ÷ net income20.6%19.3%19.4%37.2%37.3%27.8%37.2%54.8%45.8%41.9%57.2%45.7%30.8%20.7%28.1%54.7%91.6%56.6%
Dividends and buybacks ÷ free cash flow13.0%43.8%—69.3%14.0%44.6%470.2%—————15.4%108.8%123.1%269.9%23.5%59.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 5 checks passed · June 30, 2026
What it owns · $53.5bn
Short-term assets $27.8bnLonger-term assets $25.7bn
What it owes, and who funded it · $43.6bn
Short-term liabilities $20.0bnShareholders' equity $23.6bn
  • Short-term assets cover short-term liabilities $27.8bn of assets due within a year against $20.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $1.1bn of cash against $7.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 32% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 36% to 32% over five years.
  • A year's operating cash flow covers at least 20% of debt $2.8bn of operating cash flow against $7.6bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Archer Daniels Midland's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

44 /100

Weak moat

How hard Archer Daniels Midland's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 3 / 20

    Cash operating profit has been a median 4.1% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 6.8%, moving by 0.5 percentage points (standard deviation) across 10 years.

  • Durability 7 / 20

    Net margin has been a median 2.8%; its worst year was 1.3%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 6 of 10 years, at a median 1.0% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 14.4% over five years; stock-based pay has been a median 0.1% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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More: Agricultural Products & Services stocks compared, Consumer Staples sector, rankings of US companies

Figures from Archer Daniels Midland's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Archer Daniels Midland.