Archer-Daniels-Midland (ADM) FY2017 results: revenue $60.8 billion, down 2.4% on the year
Archer-Daniels-Midland Co. (ADM) reported revenue of $60.8 billion for fiscal 2017, the year ended 31 December 2017, down 2.4% on the year before. Net income was $1.6 billion, up 24.7%, and diluted earnings per share $2.79. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2018.
Revenue
$60.8 billion
-2.4% on the year
FY2012FY2017
Operating margin
n/a
FY2012FY2017
Net income
$1.6 billion
+24.7% on the year
FY2012FY2017
Diluted EPS
$2.79
+29.2% on the year
FY2012FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
60,828
62,346
67,702
-2.4%
Cost of revenue
57,322
58,662
63,682
-2.3%
Gross profit
3,518
3,618
3,966
-2.8%
Gross margin
5.8%
5.8%
5.9%
Research and development
129
123
122
+4.9%
Selling, general and administrative
1,978
1,981
1,985
-0.2%
Interest expense
330
293
308
+12.6%
Pre-tax income
1,609
1,822
2,284
-11.7%
Income tax
7.0
534
438
-98.7%
Effective tax rate
0.4%
29.3%
19.2%
Net income
1,595
1,279
1,849
+24.7%
Net margin
2.6%
2.1%
2.7%
Diluted EPS
$2.79
$2.16
$2.98
+29.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
-5,966
-6,508
1,705
Capital expenditure
1,049
882
1,125
+18.9%
Free cash flow
-7,015
-7,390
580
Free cash flow margin
-11.5%
-11.9%
0.9%
Cash from investing
7,291
6,852
-21.0
+6.4%
Cash from financing
-1,028
-579
-2,649
Depreciation and amortisation
924
900
882
+2.7%
Share-based compensation
66.0
74.0
79.0
-10.8%
Buybacks
750
1,000
2,040
-25.0%
Dividends paid
730
701
687
+4.1%
Dividend per share
$1.28
$1.20
$1.12
+6.7%
Diluted shares, weighted
572m
591m
621m
-3.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
18,322
17,181
17,915
+6.6%
Redeemable equity
53.0
24.0
0.0
+120.8%
Debt
7,493
6,931
5,877
+8.1%
Other liabilities
14,095
15,633
16,365
-9.8%
Total liabilities and equity
39,963
39,769
40,157
+0.5%
Fixed assets
10,138
9,758
9,853
+3.9%
Goodwill
2,374
2,246
2,185
+5.7%
Intangible assets
1,544
1,457
1,503
+6.0%
Investments
92.0
483
877
-81.0%
Cash and equivalents
804
619
910
+29.9%
Receivables
1,947
1,905
1,738
+2.2%
Inventory
9,173
8,831
8,243
+3.9%
Other assets
13,891
14,470
14,848
-4.0%
Total assets
39,963
39,769
40,157
+0.5%
10-K for the year ended 31 December 2017, filed 16 February 2018: the filing.