Archer-Daniels-Midland Company stock research
FY2025 Q2
Archer-Daniels-Midland (ADM) Gross Margin — Quarter Ended Jun 30, 2025
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue also rose. Gross margin improved from the prior quarter but weakened relative to the same quarter one year earlier.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue also rose. Gross margin improved from the prior quarter but weakened relative to the same quarter one year earlier.
- Gross profit grew faster than revenue on a sequential basis, driving the gross margin higher. The year-over-year decline in gross margin occurred despite higher revenue, as cost of revenue decreased less proportionally.
- Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
21.6%
Gross profit
$1.4B
Revenue
$6.3B
Cost of revenue
$19.8B
Quarter-over-quarter change
+2.4 pts
Year-over-year change
-1.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2024 | $6.0B | $1.4B | $18.6B | 22.8% |
| Dec 31, 2024 | $6.3B | $1.4B | $20.1B | 21.6% |
| Mar 31, 2025 | $6.1B | $1.2B | $19.0B | 19.2% |
| Jun 30, 2025 | $6.3B | $1.4B | $19.8B | 21.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
+2.4 pts
Year-over-year change
Jun 30, 2024
-1.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit grew faster than revenue on a sequential basis, driving the gross margin higher. The year-over-year decline in gross margin occurred despite higher revenue, as cost of revenue decreased less proportionally.
Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin weakened.
Monitor the relationship between cost of revenue and revenue in upcoming quarters, as cost of revenue has been the larger absolute figure and its movement directly affects gross margin.