Latest revenue
$20.49B
as of 2026-03-31
Latest net income
$298.0M
as of 2026-03-31
Net margin
1.5%
as of 2026-03-31
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within Fats & Oils (5 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 7, 2026.
Fair value · DCF
DCF: 10-year forecast of free cash flow, discounted at the company's WACC, with a Gordon-growth terminal at year 10. FCF is proxied by last fiscal-year net income (proper FCF needs CFO − CapEx by year, which we don't store yet). Drag the slider to test your own growth thesis — the dominant assumption in any DCF is what comes next, not what the math does with it. Beta defaults to 1.0 when not reported.
Community sentiment
Where do you think ADM is heading?
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $38.99B
- Enterprise value
- $47.73B
- P/E (trailing)
- 36.2×
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 2.5%
- 52-wk high
- $85.37
- 52-wk low
- $47.42
- Beta
- —
- Shares out
- 482.0M
5-year trend
What this company does
ADM processes and trades agricultural commodities like corn, soybeans, and wheat, turning them into food ingredients, animal feed, vegetable oils, biofuels, and nutrition products sold to food and industrial customers worldwide. Revenue comes mainly from selling these processed crops and ingredients, with merchandising and crushing of oilseeds and grains driving the bulk of sales. Earnings are sliding sharply, with nine-month net income halving to $622 million amid weaker margins and $421 million in restructuring and impairment charges as ADM cuts costs and exits underperforming assets.
Generated from ADM's filing dated 2026-02-17
Key risks
- Earnings collapse: 9M 2025 net income fell 50% to $622M from $1,233M; Q3 EPS of $0.22 reflects margin pressure across core crushing operations.
- Recurring impairments: $421M asset impairment, exit and restructuring costs YTD 2025 follow $532M in 2024, signaling persistent write-downs and portfolio issues.
- Revenue declining: 9M revenue down 3.6% to $61.7B with gross margin compressed to 6.2% from 6.9%, reflecting weak ag commodity pricing environment.
Generated from ADM's filing dated 2026-02-17
Profitability
Gross margin
6.3%
7.2%Net margin
1.3%
36.2%Return on assets
2.1%
39.1%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $20.49B | +1.6% | $298.0M | +1.0% | 1.5% |
Q4 2025 2025-12-31 | $18.56B | -13.7% | $456.0M | -19.6% | 2.5% |
Q3 2025 2025-09-30 | $20.37B | +2.2% | $108.0M | +500.0% | 0.5% |
Q2 2025 2025-06-30 | $21.17B | -4.9% | $219.0M | -54.9% | 1.0% |
Q1 2025 2025-03-31 | $20.18B | -7.7% | $295.0M | -59.5% | 1.5% |
Q4 2024 2024-12-31 | $21.50B | — | $567.0M | — | 2.6% |
Q3 2024 2024-09-30 | $19.94B | -8.1% | $18.0M | -97.8% | 0.1% |
Q2 2024 2024-06-30 | $22.25B | -11.7% | $486.0M | -47.6% | 2.2% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Fats & Oils · SIC 2070
Your notes
Keep private notes on ADM — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$486.7K
Insider selling
$10.1M
Net activity
−$9.6M
Distinct insiders
5
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns ADM
Institutional value
$9.34B
Total shares held
133.6M
Distinct holders
761
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 31.2M | $2.27B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 26.0M | $1.89B | — | New |
| 3 | Invesco Ltd. | 6.1M | $444.0M | — | New |
| 4 | DIMENSIONAL FUND ADVISORS LP | 3.8M | $276.6M | — | New |
| 5 | Bank of New York Mellon Corp | 3.4M | $249.5M | — | New |
| 6 | UBS Group AG | 2.8M | $206.2M | — | New |
| 7 | MONETA GROUP INVESTMENT ADVISORS LLC | 2.8M | $202.0M | — | New |
| 8 | Legal & General Group Plc | 2.7M | $198.2M | — | New |
| 9 | VANGUARD FIDUCIARY TRUST CO | 2.7M | $196.6M | — | New |
| 10 | ProShare Advisors LLC | 2.5M | $184.4M | — | New |
| 11 | DEUTSCHE BANK AG\ | 2.3M | $164.7M | — | New |
| 12 | Markel Group Inc. | 1.5M | $109.5M | — | New |
| 13 | Nuveen, LLC | 1.4M | $104.6M | — | New |
| 14 | Allianz Asset Management GmbH | 1.4M | $103.1M | — | New |
| 15 | Swiss National Bank | 1.4M | $102.5M | — | New |
| 16 | Russell Investments Group, Ltd. | 1.3M | $91.1M | — | New |
| 17 | Sumitomo Mitsui Trust Group, Inc. | 1.2M | $84.1M | — | New |
| 18 | Mitsubishi UFJ Asset Management Co., Ltd. | 1.2M | $83.7M | — | New |
| 19 | Robeco Institutional Asset Management B.V. | 1.1M | $81.7M | — | New |
| 20 | Vanguard Global Advisers, LLC | 1.1M | $79.5M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
YTD net earnings fell 50% to $622M while gross margin compressed to 6.2%—when does Ag Services & Oilseeds crush margin actually trough?
- 2
You've booked $421M in impairment/restructuring YTD plus another $246M this quarter; what specific assets remain at risk and what's total program cost?
- 3
Inventory dropped $2.87B driving operating cash flow, but is this a sustainable working capital release or signaling weaker forward demand visibility?
Refreshed when ADM files a new report · last from 2026-02-17
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