Archer-Daniels-Midland (ADM) 10-K Summary — Year Ended Dec 31, 2023
The company describes itself as a global agricultural supply chain manager and processor, also serving human and animal nutrition markets. The filing reports annual operating cash flow and net income, with revenue showing variability across recent periods.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
The company describes itself as a global agricultural supply chain manager and processor, also serving human and animal nutrition markets. The filing reports annual operating cash flow and net income, with revenue showing variability across recent periods.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$25.7B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$3.5B
Net income reported for the year.
Operating cash flow
$4.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $25.2B | n/a |
| Sep 30, 2023 | $21.7B | -13.9% |
| Dec 31, 2023 | $25.7B | +18.4% |
Business overview
Archer-Daniels-Midland Company manages and processes agricultural supply chains globally, and provides ingredients for human and animal nutrition. It positions itself as an innovator in replacing petroleum-based products and a leader in sustainability, offering products from staple foods to plant-based alternatives and pet food ingredients.
Financial performance
The filing reports revenue for a recent annual period alongside operating cash flow and net income figures. Revenue trends over the latest three reported quarters show both increases and decreases, indicating fluctuating demand or market conditions.
Material risks
The filing notes that the company depends on access to credit markets, which can be affected by its credit rating and external factors beyond its control. It also identifies general forward-looking uncertainties that could cause actual results to differ materially from expectations.
Liquidity and capital
The company states that its primary funding sources are cash from operations and lines of credit, including commercial paper and receivables securitization. It generated operating cash flow in the most recent annual period, and working capital changes were driven by shifts in inventories, trade receivables, and payables.
What to watch
Monitor the trend in quarterly revenue and the factors behind its variability, as reported in future filings.