Archer Daniels Midland Co.
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+ FollowMarket Cap$37.07B
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Earnings Call Q3 2026
November 3, 2026 - AI Summary
Strong Q3 results + guidance raised (again): ADM reported adjusted EPS of $1.77 and total segment operating profit of $1.4B in Q3 2026 (segment operating profit +64% YoY). Management cited a constructive North American biofuels margin environment and strong operational execution. Full-year 2026 adjusted EPS guidance was raised for the third time to $5.50–$5.80 (from $5.15–$5.60 prior range).
What supports the rest of 2026 (and what could move it): For Q4, ADM expects continued strength in biofuels (including policy-driven demand), with Ag Services also expected to be strong. They also flag guidance uncertainty from commodity-price-driven mark-to-market/timing items (they don’t include new mark-to-market in guidance). Management said the high end partly assumes reversal/recovery of mark-to-market still carried into Q4; they also expect China demand for North American soybeans to continue (and corn expectations are more modest absent new news).
Capital allocation: dividend streak + renewed buybacks + lower capex outlook: ADM paid its 379th consecutive quarterly dividend and resumed opportunistic share repurchases (about $360M bought back in the quarter; ~$254M dividends in Q3). Net leverage was 1.5x at end of September (target unchanged). CapEx guidance was lowered to $1.2B–$1.3B for 2026 (from $1.3B–$1.5B), framed as capital efficiency / project sequencing rather than a strategic pullback.
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$87.59
23.6% upside
Current Fair Value
23.6% upsideUndervalued by 23.6% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $37.07 Billion |
|---|---|
| Enterprise Value | $37.01 Billion |
| Annual dividend | $2.07 |
| Dividend yield | 2.69% |
| Earnings per Share | $2.23 |
| Beta | 0.63 |
| Outstanding Shares | 485,000,000 |
Return
| Return on Equity | 7.51% |
|---|---|
| Return on Assets | 3.31% |
| Return on Invested Capital | 7.55% |
Valuation & Multiples
| P/E Ratio | 21.07 |
|---|---|
| PEG | 6.7 |
| Price to Sales | 0.42 |
| Price to Book Ratio | 1.45 |
| Enterprise Value to Revenue | 0.45 |
| Enterprise Value to EBIT | 14.63 |
| Enterprise Value to Net Income | 20 |
| Total Debt to Enterprise | 0.26 |
| Debt to Equity | 0.4 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 3, 2026
EPS Estimate
$1.60
Consensus analyst estimateRevenue Estimate
$23.27 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 2, 2027
EPS Estimate
$1.38
Consensus analyst estimateRevenue Estimate
$22.12 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.07, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0667▼ 39.82% |
|---|---|
| Total Calls | 22,502▼ 99.39% |
| Total Puts | 1,500▼ 99.91% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 4.36%▼ 85.98% |
|---|---|
| Total Invested | $1.68B▼ 94.96% |
| Investors Holding | 443▼ 771.00% |
About Archer Daniels Midland Co.
38,100 employees
CEO: Patricia Woertz
ADM unlocks the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, ADM gives customers a...