Archer-Daniels-Midland (ADM) FY2018 results: revenue $64.3 billion, up 5.8% on the year
Archer-Daniels-Midland Co. (ADM) reported revenue of $64.3 billion for fiscal 2018, the year ended 31 December 2018, up 5.8% on the year before. Net income was $1.8 billion, up 13.5%, and diluted earnings per share $3.19. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$64.3 billion
+5.8% on the year
FY2012FY2018
Operating margin
n/a
FY2012FY2018
Net income
$1.8 billion
+13.5% on the year
FY2012FY2018
Diluted EPS
$3.19
+14.3% on the year
FY2012FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
64,341
60,828
62,346
+5.8%
Cost of revenue
60,160
57,322
58,662
+5.0%
Gross profit
4,181
3,518
3,618
+18.8%
Gross margin
6.5%
5.8%
5.8%
Research and development
141
129
123
+9.3%
Selling, general and administrative
2,165
1,978
1,981
+9.5%
Interest expense
364
330
293
+10.3%
Pre-tax income
2,060
1,609
1,822
+28.0%
Income tax
245
7.0
534
+3,400.0%
Effective tax rate
11.9%
0.4%
29.3%
Net income
1,810
1,595
1,279
+13.5%
Net margin
2.8%
2.6%
2.1%
Diluted EPS
$3.19
$2.79
$2.16
+14.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
-4,784
-5,966
-6,508
Capital expenditure
842
1,049
882
-19.7%
Free cash flow
-5,626
-7,015
-7,390
Free cash flow margin
-8.7%
-11.5%
-11.9%
Cash from investing
6,582
7,291
6,852
-9.7%
Cash from financing
187
-1,028
-579
Depreciation and amortisation
941
924
900
+1.8%
Share-based compensation
109
66.0
74.0
+65.2%
Buybacks
77.0
750
1,000
-89.7%
Dividends paid
758
730
701
+3.8%
Dividend per share
$1.34
$1.28
$1.20
+4.7%
Diluted shares, weighted
567m
572m
591m
-0.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
18,996
18,322
17,181
+3.7%
Redeemable equity
49.0
53.0
24.0
-7.5%
Debt
8,388
7,493
6,931
+11.9%
Other liabilities
13,400
14,095
15,633
-4.9%
Total liabilities and equity
40,833
39,963
39,769
+2.2%
Fixed assets
9,953
10,138
9,758
-1.8%
Goodwill
2,496
2,374
2,246
+5.1%
Intangible assets
1,545
1,544
1,457
+0.1%
Investments
13.0
92.0
483
-85.9%
Cash and equivalents
1,997
804
619
+148.4%
Receivables
2,233
1,947
1,905
+14.7%
Inventory
8,813
9,173
8,831
-3.9%
Other assets
13,783
13,891
14,470
-0.8%
Total assets
40,833
39,963
39,769
+2.2%
10-K for the year ended 31 December 2018, filed 19 February 2019: the filing.