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Archer Daniels Midland logo

Archer Daniels Midland Business Segments

Business, geographic, and product segment breakdowns

Archer Daniels Midland generates $80.6B in annual revenue across 3 key segments: Ag Services and Oilseeds ($61.9B), Carbohydrate Solutions ($10.7B), and Nutrition ($7.5B). Based on the Q1 2026 filing.

Ag Services and Oilseeds (TTM)$61.9BCarbohydrate Solutions (TTM)$10.7BNutrition (TTM)$7.5B
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$38.0B
P/E Ratio35.18
ROE4.81%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services$11.5B$10.5B$10.9B$10.3B$8.7B$10.6B
Refined Products and Other$2.6B$2.5B$2.7B$2.8B$2.9B$2.7B
Crushing$2.8B$2.6B$2.6B$2.6B$2.5B$2.7B
Starches and Sweeteners$2B$1.9B$2.1B$2B$1.9B$1.9B

Topic 815 Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services$10.3B$9.3B$9.9B$9.1B$7.6B$9.4B
Crushing$2.6B$2.5B$2.5B$2.5B$2.4B$2.6B
Refined Products and Other$1.8B$1.6B$1.8B$1.9B$1.9B$1.8B
Starches and Sweeteners$574M$553M$561M$569M$551M$522M
Animal Nutrition$0$0$0$0$0$0
Human Nutrition$0$0$0$0$0$0
Vantage Corn Processors$0$0$0$0$0$0

Topic 606 Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Human Nutrition$915M$998M$1.2B$1.1B$961M$1B
Animal Nutrition$859M$819M$832M$849M$825M$780M
Vantage Corn Processors$722M$634M$692M$729M$701M$628M

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property, plant, and equipment, net$3B———$3.3B—
Revenue$3.9B$3.8B$3.8B$3.8B$3.8B—
Right of use assets$295M———$259M—

Business Segments

Amortization expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Nutrition$38M$39M$39M$39M$39M$39M
Ag Services and Oilseeds$4M$3M$3M$3M$3M$3M
Carbohydrate Solutions$2M$1M$1M$1M$1M$1M

Cost of materials

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds$15.3B$14.3B$14.9B$14.2B$12.6B$14.8B
Carbohydrate Solutions$1.8B$1.6B$1.7B$1.7B$1.6B$1.5B
Nutrition$1.1B$1.1B$1.2B$1.2B$1.1B$1.1B

Currency translation adjustments and other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds-$4.3M$3.3M$3.3M$3.3M$3.3M—
Carbohydrate Solutions-$2M$3.8M$3.8M$3.8M$3.8M—
Nutrition-$31.8M$49.3M$49.3M$49.3M$49.3M—

Depreciation expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds$96M$100M$104M$105M$105M$102M
Carbohydrate Solutions$76M$75M$75M$75M$90M$79M
Nutrition$38M$37M$38M$42M$41M$42M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds$218M———$250M—
Carbohydrate Solutions$216M———$238M—
Nutrition$4.1B———$4.3B—

Goodwill, Acquired During Period

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds$0$4.8M$4.8M$4.8M$4.8M—
Carbohydrate Solutions$0$1.8M$1.8M$1.8M$1.8M—
Nutrition$139.3M$2.5M$2.5M$2.5M$2.5M—

Income (Loss) from Equity Method Investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds$87M$110M$109M-$77M$379M$49M
Carbohydrate Solutions$28M$29M$21M$27M$27M$34M
Nutrition$8M$7M$5M$9M$8M$4M

Interest and investment income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds$49M$21M$9M$10M$14M$24M
Carbohydrate Solutions—$0———$1M

Manufacturing costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds$907M$881M$867M$879M$919M$894M
Carbohydrate Solutions$652M$677M$647M$652M$680M$692M
Nutrition$324M$319M$326M$332M$329M$330M

Operating Profit, Adjusted

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Carbohydrate Solutions$319M$240M$337M$336M$299M$356M
Ag Services and Oilseeds$644M$412M$379M$379M$444M$273M
Nutrition$88M$95M$114M$130M$77M$135M

Other segment items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds-$194M-$150M-$140M-$99M-$175M-$141M
Carbohydrate Solutions-$66M-$30M-$20M-$34M-$53M-$41M
Nutrition-$58M-$14M$55M-$4M—-$6M

Restructuring and exit costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Nutrition—$4M$119M$67M$17M$4M
Ag Services and Oilseeds—$23M$4M$5M$12M$2M
Carbohydrate Solutions—$5M——$3M$1M

Selling, general, and administrative expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Nutrition$289M$278M$284M$277M$287M$292M
Ag Services and Oilseeds$242M$193M$223M$216M$216M$210M
Carbohydrate Solutions$83M$82M$83M$80M$82M$91M

Topic 606 Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds$16.9B$15.7B$16.3B$15.6B$14B$16B
Carbohydrate Solutions$2.8B$2.6B$2.8B$2.7B$2.6B$2.6B
Nutrition$1.8B$1.8B$2B$1.9B$1.8B$1.8B

Topic 815 Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ag Services and Oilseeds$14.6B$13.5B$14.3B$13.4B$12B$13.8B
Carbohydrate Solutions$574M$553M$561M$569M$551M$522M
Nutrition$0$0$0$0$0$0