Archer-Daniels-Midland (ADM) FY2015 results: revenue $67.7 billion, down 16.6% on the year
Archer-Daniels-Midland Co. (ADM) reported revenue of $67.7 billion for fiscal 2015, the year ended 31 December 2015, down 16.6% on the year before. Net income was $1.8 billion, down 17.7%, and diluted earnings per share $2.98. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2016.
Revenue
$67.7 billion
-16.6% on the year
FY2012FY2015
Operating margin
n/a
FY2012FY2015
Net income
$1.8 billion
-17.7% on the year
FY2012FY2015
Diluted EPS
$2.98
-13.1% on the year
FY2012FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
67,702
81,201
89,804
-16.6%
Cost of revenue
63,682
76,433
85,915
-16.7%
Gross profit
3,966
4,768
3,889
-16.8%
Gross margin
5.9%
5.9%
4.3%
Research and development
122
79.0
59.0
+54.4%
Selling, general and administrative
1,985
1,933
1,759
+2.7%
Interest expense
308
337
413
-8.6%
Pre-tax income
2,284
3,130
2,024
-27.0%
Income tax
438
877
670
-50.1%
Effective tax rate
19.2%
28.0%
33.1%
Net income
1,849
2,248
1,342
-17.7%
Net margin
2.7%
2.8%
1.5%
Diluted EPS
$2.98
$3.43
$2.02
-13.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,705
4,943
5,226
-65.5%
Capital expenditure
1,125
894
913
+25.8%
Free cash flow
580
4,049
4,313
-85.7%
Free cash flow margin
0.9%
5.0%
4.8%
Cash from investing
-21.0
-3,407
-577
Cash from financing
-2,649
-3,577
-3,242
Depreciation and amortisation
882
894
909
-1.3%
Share-based compensation
79.0
55.0
43.0
+43.6%
Buybacks
2,040
1,183
101
+72.4%
Dividends paid
687
624
501
+10.1%
Dividend per share
$1.12
$0.96
$0.76
+16.7%
Diluted shares, weighted
621m
656m
663m
-5.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
17,915
19,630
20,194
-8.7%
Redeemable equity
0.0
n/a
n/a
Debt
5,877
5,660
6,870
+3.8%
Other liabilities
16,365
18,737
16,688
-12.7%
Total liabilities and equity
40,157
44,027
43,752
-8.8%
Fixed assets
9,853
9,851
10,137
+0.0%
Goodwill
2,185
2,010
562
+8.7%
Intangible assets
1,503
1,382
197
+8.8%
Investments
877
1,000
941
-12.3%
Cash and equivalents
910
1,099
3,121
-17.2%
Receivables
1,738
2,704
3,224
-35.7%
Inventory
8,243
9,374
11,441
-12.1%
Other assets
14,848
16,607
14,129
-10.6%
Total assets
40,157
44,027
43,752
-8.8%
10-K for the year ended 31 December 2015, filed 19 February 2016: the filing.