Archer-Daniels-Midland (ADM) FY2023 results: revenue $93.9 billion, down 7.5% on the year
Archer-Daniels-Midland Co. (ADM) reported revenue of $93.9 billion for fiscal 2023, the year ended 31 December 2023, down 7.5% on the year before. Net income was $3.5 billion, down 19.7%, and diluted earnings per share $6.43. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2024.
Revenue
$93.9 billion
-7.5% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$3.5 billion
-19.7% on the year
FY2016FY2023
Diluted EPS
$6.43
-16.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,460
3,478
6,595
+28.2%
Capital expenditure
1,494
1,319
1,169
+13.3%
Free cash flow
2,966
2,159
5,426
+37.4%
Free cash flow margin
3.2%
2.1%
6.4%
Cash from investing
-1,496
-1,400
-2,669
Cash from financing
-4,604
-2,499
-1,118
Depreciation and amortisation
1,059
1,028
996
+3.0%
Share-based compensation
112
147
161
-23.8%
Buybacks
2,673
1,450
0.0
+84.3%
Dividends paid
977
899
834
+8.7%
Dividend per share
$1.80
$1.60
$1.48
+12.5%
Diluted shares, weighted
542m
563m
566m
-3.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
24,145
24,317
22,508
-0.7%
Redeemable equity
320
299
259
+7.0%
Debt
8,365
9,180
9,539
-8.9%
Operating lease liabilities
931
816
765
+14.1%
Other liabilities
20,870
25,162
23,065
-17.1%
Total liabilities and equity
54,631
59,774
56,136
-8.6%
Fixed assets
10,508
9,933
9,803
+5.8%
Goodwill
4,103
4,162
4,182
-1.4%
Intangible assets
2,238
2,382
2,565
-6.0%
Cash and equivalents
1,368
1,037
943
+31.9%
Receivables
4,232
4,926
3,311
-14.1%
Inventory
11,957
14,771
14,481
-19.1%
Other assets
20,225
22,563
20,851
-10.4%
Total assets
54,631
59,774
56,136
-8.6%
10-K for the year ended 31 December 2023, filed 12 March 2024: the filing.