Archer-Daniels-Midland (ADM) FY2016 results: revenue $62.3 billion, down 7.9% on the year
Archer-Daniels-Midland Co. (ADM) reported revenue of $62.3 billion for fiscal 2016, the year ended 31 December 2016, down 7.9% on the year before. Net income was $1.3 billion, down 30.8%, and diluted earnings per share $2.16. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2017.
Revenue
$62.3 billion
-7.9% on the year
FY2012FY2016
Operating margin
n/a
FY2012FY2016
Net income
$1.3 billion
-30.8% on the year
FY2012FY2016
Diluted EPS
$2.16
-27.5% on the year
FY2012FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
62,346
67,702
81,201
-7.9%
Cost of revenue
58,662
63,682
76,433
-7.9%
Gross profit
3,618
3,966
4,768
-8.8%
Gross margin
5.8%
5.9%
5.9%
Research and development
123
122
79.0
+0.8%
Selling, general and administrative
1,981
1,985
1,933
-0.2%
Interest expense
293
308
337
-4.9%
Pre-tax income
1,822
2,284
3,130
-20.2%
Income tax
534
438
877
+21.9%
Effective tax rate
29.3%
19.2%
28.0%
Net income
1,279
1,849
2,248
-30.8%
Net margin
2.1%
2.7%
2.8%
Diluted EPS
$2.16
$2.98
$3.43
-27.5%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
-6,508
1,705
4,943
Capital expenditure
882
1,125
894
-21.6%
Free cash flow
-7,390
580
4,049
Free cash flow margin
-11.9%
0.9%
5.0%
Cash from investing
6,852
-21.0
-3,407
Cash from financing
-579
-2,649
-3,577
Depreciation and amortisation
900
882
894
+2.0%
Share-based compensation
74.0
79.0
55.0
-6.3%
Buybacks
1,000
2,040
1,183
-51.0%
Dividends paid
701
687
624
+2.0%
Dividend per share
$1.20
$1.12
$0.96
+7.1%
Diluted shares, weighted
591m
621m
656m
-4.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
17,181
17,915
19,630
-4.1%
Redeemable equity
24.0
0.0
n/a
Debt
6,931
5,877
5,660
+17.9%
Other liabilities
15,633
16,365
18,737
-4.5%
Total liabilities and equity
39,769
40,157
44,027
-1.0%
Fixed assets
9,758
9,853
9,851
-1.0%
Goodwill
2,246
2,185
2,010
+2.8%
Intangible assets
1,457
1,503
1,382
-3.1%
Investments
483
877
1,000
-44.9%
Cash and equivalents
619
910
1,099
-32.0%
Receivables
1,905
1,738
2,704
+9.6%
Inventory
8,831
8,243
9,374
+7.1%
Other assets
14,470
14,848
16,607
-2.5%
Total assets
39,769
40,157
44,027
-1.0%
10-K for the year ended 31 December 2016, filed 17 February 2017: the filing.