Archer-Daniels-Midland Company (ADM)财务
NYSE · Consumer Defensive · Agricultural Farm Products · 员工41,147人 · CEO Juan Ricardo Luciano
- 股价
- $76.91 +0.93%
- 市值
- $371亿
- 企业价值
- $368亿
- 最近财报
- Q2 '26 2026-08-04提交
- 下次财报
- 2026-11-03 EPS预期 $1.60
营收(TTM)$821亿-0.8% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)2.5%+1.0 百分点 对比去年同期营业利润 $20.2亿
净利润(TTM)$17.7亿+61.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$16.8亿-59.2% 对比去年同期资本支出 $11.2亿
稀释EPS(TTM)$3.65+61.0% 对比去年同期最近4个季度之和
净现金$2.67亿+102.8% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $371亿 EV $368亿
- 营收
- $821亿 过去12个月
- 营收增速
- +10% FY2026年一致预期
- 净利润率
- 2.2% 净利润 / 营收,TTM
- P/E
- 21.1× 预期 13.9×(FY2026)
- P/S
- 0.5× 股价 / 营收,TTM
- EV / EBITDA
- 9.6× TTM
- 自由现金流
- $16.8亿 过去12个月
- 净利润
- $17.7亿 过去12个月
- 营收预期
- $879亿 FY2026年一致预期
- 盈利
- 2026-11-03 营收预期 $233亿
- 股息
- $2.07 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-04):营收符合预期,EPS 超预期29.6%营收$227亿,预期$227亿(-0.3%);EPS $1.84,预期$1.42(+29.6%)。
- 营收增长加速:同比7.0%Q2 '26营收$227亿,此前四个季度的平均值为-3.7%。
- 营业利润率2.5%(TTM),较去年同期+1.0 百分点营收增长-0.8%,营业利润增长65.2%。
- 资本支出占营收的1.4%(去年为1.8%)最近4个季度投入$11.2亿(同比-23.9%)。自由现金流$16.8亿,相当于净利润的94.7%。
- 股东回报$10亿 = 自由现金流的59.7%回购$0(去年为$0),股息$10亿,股权激励$8300万(TTM)。
- 稀释股数一年内增加0.2%Q2 '26稀释股数4.85亿,一年前为4.84亿。
- 净现金 $2.67亿现金 + 短期投资 $96.1亿,含租赁债务 $93.4亿;一年前净债务 $95.5亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $227亿 | $212亿 | +7.0% |
| 毛利率 | 8.5% | 4.7% | +3.8 百分点 |
| 营业利润 | $8.96亿 | $1亿 | +796.0% |
| 营业利润率 | 4.0% | 0.5% | +3.5 百分点 |
| 净利润 | $9.08亿 | $2.19亿 | +314.6% |
| 稀释EPS | $1.87 | $0.45 | +315.6% |
| 经营现金流 | $11.5亿 | $43亿 | -73.3% |
| 资本支出 | $2.72亿 | $3.05亿 | -10.8% |
| 自由现金流 | $8.77亿 | $39.9亿 | -78.0% |
| R&D | $0 | $0 | – |
| 股权激励费用 | -$6400万 | -$5000万 | -28.0% |
实际 vs 一致预期
2026-08-04| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $227亿 | $227亿 | -0.3% |
| EPS(一致预期口径) | $1.84 | $1.42 | +29.6% |
来自2026-08-04发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Ag Services and Oilseeds | $179亿 | +10.1% | 79.4% | $635亿 | -0.6% | |
| Carbohydrate Solutions | $27.6亿 | -1.3% | 12.2% | $107亿 | -3.0% | |
| Nutrition | $19亿 | -4.6% | 8.4% | $74.1亿 | -0.1% |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Asia | $7800万 | +2.6% | 100.0% | $2.7亿 | -8.8% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $28亿
- 资本支出
- -$11.2亿
- 股票回购
- $0
- 股息
- -$10亿
- 收购
- $5700万
- 债务净发行
- -$12.1亿
- 股权激励费用
- $8300万
- 自由现金流
- $16.8亿
- 股东回报 / FCF
- 59.7%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 21.1× | 15.4× | 11.2× – 25.8× |
| EV / EBITDA | 9.6× | 9.6× | 7.9× – 12.0× |
| EV / 营收 | 0.4× | 0.5× | 0.4× – 0.6× |
| 股价 / FCF | 22.1× | 14.1× | 6.6× – 24.2× |
| 股价 / 净资产 | 1.6× | 1.6× | 1.1× – 2.1× |
| FCF收益率 | 4.5% | 9.2% | 4.1% – 15.1% |
| 投入资本回报率 | 4.9% | 6.7% | 3.5% – 9.4% |
| 净资产收益率 | 7.7% | 11.4% | 4.7% – 17.9% |
分析师
一致目标价 $84.75 (+10.2%)
区间 $75.00 – $95.00 · 评级 Hold
强烈买入0
买入12
持有22
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $879亿 | +9.5% | $5.53 | +147.9% | 13.9× | 5 |
| FY2027 | $932亿 | +6.0% | $5.86 | +6.1% | 13.1× | 6 |
| FY2028 | $980亿 | +5.2% | $5.84 | -0.5% | 13.2× | 1 |
| FY2029 | $894亿 | -8.8% | $5.78 | -1.0% | 13.3× | 1 |
| FY2030 | $858亿 | -4.0% | $4.64 | -19.7% | 16.6× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Archer-Daniels-Midland Company在近期10-Q / 10-K文件中标记的全部285项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $49.9亿 | $44.8亿 | +11.5% | $52亿 | $55.4亿 | -6.1% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $33.5亿 | $36.7亿 | -8.7% | $30.2亿 | $37.1亿 | -18.5% |
| Accounts Receivable, Allowance for Credit Loss | $1.56亿 | $1.53亿 | +2.0% | $1.6亿 | $1.67亿 | -4.2% |
| Accounts Receivable, Allowance for Credit Loss, Recovery | – | – | – | $500万 | $0 | – |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $1400万 | $1300万 | +7.7% | $3900万 | $3200万 | +21.9% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $800万 | $500万 | +60.0% | $2700万 | -$1600万 | +268.8% |
| Accrual for Taxes Other than Income Taxes, Current | $1.89亿 | $1.67亿 | +13.2% | $1.81亿 | $1.38亿 | +31.2% |
| Accrued Income Taxes, Current | $2.24亿 | $1.08亿 | +107.4% | $8300万 | $1.67亿 | -50.3% |
| Accrued Liabilities, Current | $14.7亿 | $11.4亿 | +28.8% | $10.3亿 | $10.9亿 | -6.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $191亿 | $187亿 | +2.1% | $190亿 | $181亿 | +5.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$24.7亿 | -$27.9亿 | +11.6% | -$25.3亿 | -$29.9亿 | +15.3% |
| Amortization | $6000万 | $6300万 | -4.8% | $2.49亿 | $2.66亿 | -6.4% |
| Amortization of Intangible Assets | – | – | – | $2.49亿 | $2.66亿 | -6.4% |
| Asset Impairment Charges | $2400万2025-12-31 | $200万 | +1,100.0% | $3.61亿 | $5.19亿 | -30.4% |
| Assets | $535亿 | $520亿 | +2.9% | $524亿 | $533亿 | -1.7% |
| Assets, Current | $278亿 | $263亿 | +5.7% | $267亿 | $277亿 | -3.8% |
| Assets, Fair Value Disclosure | $92.5亿2025-12-31 | $101亿 | -8.1% | $92.5亿 | $101亿 | -8.1% |
| Assets, Noncurrent | $257亿 | $257亿 | +0.1% | $257亿 | $256亿 | +0.7% |
| Broker-Dealer, Payable to Customer | $91.8亿 | $85.9亿 | +6.9% | $89.2亿 | $77.7亿 | +14.8% |
| Buildings and Improvements, Gross | $63.8亿 | $63.7亿 | +0.3% | $64.4亿 | $61.4亿 | +4.8% |
| Cash and Cash Equivalents, at Carrying Value | $10.6亿 | $10.6亿 | +0.3% | $10.2亿 | $6.11亿 | +66.1% |
| Cash and Cash Equivalents, Fair Value Disclosure | $2.8亿2025-12-31 | $7000万 | +300.0% | $2.8亿 | $7000万 | +300.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $54.6亿 | $59.4亿 | -8.2% | $55.1亿 | $39.2亿 | +40.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$6.55亿 | $18.9亿 | -134.7% | $15.8亿 | -$14.7亿 | +207.8% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.52 | $0.51 | +2.0% | $2.04 | $2.00 | +2.0% |
| Common Stock, Dividends, Per Share, Declared | $0.52 | $0.51 | +2.0% | – | – | – |
| Common Stock, No Par Value | $0.00 | $0.00 | – | $0.00 | $0.00 | – |
| Common Stock, Shares Authorized | 10亿 | 10亿 | 0.0% | 10亿 | 10亿 | 0.0% |
| Common Stock, Value, Issued | $33.7亿 | $32.7亿 | +3.0% | $32.8亿 | $32.2亿 | +1.8% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $500万 | -$200万 | +350.0% | -$400万 | -$2100万 | +81.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $9.52亿 | $5.35亿 | +77.9% | $15.3亿 | $13亿 | +18.1% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $9.57亿 | $5.33亿 | +79.5% | $15.3亿 | $12.8亿 | +19.7% |
| Construction in Progress, Gross | $10.4亿 | $14.8亿 | -29.3% | $11.1亿 | $15.5亿 | -28.5% |
| Contract with Customer, Liability, Current | $1.8亿 | $1.93亿 | -6.7% | $3.33亿 | $5.34亿 | -37.6% |
| Contract with Customer, Liability, Revenue Recognized | $8700万 | $2.01亿 | -56.7% | $5.29亿 | $5.29亿 | 0.0% |
| Cost of Revenue | $207亿 | $198亿 | +4.8% | $752亿 | $798亿 | -5.7% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$1.02亿 | $1.08亿 | -194.4% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $3.1亿 | $4.9亿 | -36.7% |
| Current Income Tax Expense (Benefit) | – | – | – | $2.27亿 | $6.06亿 | -62.5% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1900万 | $800万 | +137.5% |
| Debt Securities, Available-for-sale | $3200万2025-12-31 | $2.46亿 | -87.0% | $3200万 | $2.46亿 | -87.0% |
| Debt Securities, Current | $3300万 | $900万 | +266.7% | $3200万 | $2.46亿 | -87.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$4600万 | -$9900万 | +53.5% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $2800万 | -$3700万 | +175.7% |
| Deferred Income Tax Expense (Benefit) | $0 | -$1700万 | +100.0% | -$4500万 | -$1.3亿 | +65.4% |
| Deferred Income Tax Liabilities, Net | $11亿 | $11.3亿 | -2.6% | $11.4亿 | $12.7亿 | -10.5% |
| Deferred Income, Current | $1.35亿 | $1.3亿 | +3.8% | $1.91亿 | $1.56亿 | +22.4% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$2700万 | $600万 | -550.0% |
| Deferred Tax Assets, Capital Loss Carryforwards | $4500万2025-12-31 | $4100万 | +9.8% | $4500万 | $4100万 | +9.8% |
| Deferred Tax Assets, Gross | $12.1亿2025-12-31 | $12.2亿 | -0.8% | $12.1亿 | $12.2亿 | -0.8% |
| Deferred Tax Assets, Inventory | $1200万2025-12-31 | $1200万 | 0.0% | $1200万 | $1200万 | 0.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $9.21亿2025-12-31 | $10亿 | -7.9% | $9.21亿 | $10亿 | -7.9% |
| Deferred Tax Assets, Operating Loss Carryforwards, Domestic | $1.13亿2025-12-31 | $1.96亿 | -42.3% | $1.13亿 | $1.96亿 | -42.3% |
| Deferred Tax Assets, Operating Loss Carryforwards, Foreign | $5.03亿2025-12-31 | $3.86亿 | +30.3% | $5.03亿 | $3.86亿 | +30.3% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $2200万2025-12-31 | $3600万 | -38.9% | $2200万 | $3600万 | -38.9% |
| Deferred Tax Assets, Tax Deferred Expense, Other | $8100万2025-12-31 | $1.11亿 | -27.0% | $8100万 | $1.11亿 | -27.0% |
| Deferred Tax Assets, Valuation Allowance | $2.92亿2025-12-31 | $2.23亿 | +30.9% | $2.92亿 | $2.23亿 | +30.9% |
| Deferred Tax Liabilities, Deferred Expense, Reserves and Accruals | $2800万2025-12-31 | $1.33亿 | -78.9% | $2800万 | $1.33亿 | -78.9% |
| Deferred Tax Liabilities, Gross | $17.1亿2025-12-31 | $19.2亿 | -10.9% | $17.1亿 | $19.2亿 | -10.9% |
| Deferred Tax Liabilities, Intangible Assets | $3.3亿2025-12-31 | $3.43亿 | -3.8% | $3.3亿 | $3.43亿 | -3.8% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-02