Archer-Daniels-Midland Company (ADM)
Pretax margin
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 2,361,000 | 3,281,000 | 3,811,000 | 4,311,000 | 4,762,000 | 4,958,000 | 5,342,000 | 5,208,000 | 4,996,000 | 4,418,000 | 3,728,000 | 3,287,000 | 3,041,000 | 2,594,000 | 2,318,000 | 1,873,000 | 1,624,000 | 1,927,000 | 1,649,000 | 1,588,000 |
| Revenue (ttm) | US$ in thousands | 87,010,000 | 88,768,000 | 91,710,000 | 93,935,000 | 96,896,000 | 99,884,000 | 101,978,000 | 101,556,000 | 98,707,000 | 94,364,000 | 90,006,000 | 85,249,000 | 80,137,000 | 74,923,000 | 68,278,000 | 64,355,000 | 62,706,000 | 64,306,000 | 64,322,000 | 64,656,000 |
| Pretax margin | 2.71% | 3.70% | 4.16% | 4.59% | 4.91% | 4.96% | 5.24% | 5.13% | 5.06% | 4.68% | 4.14% | 3.86% | 3.79% | 3.46% | 3.39% | 2.91% | 2.59% | 3.00% | 2.56% | 2.46% |
September 30, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $2,361,000K ÷ $87,010,000K
= 2.71%
The pretax margin of Archer-Daniels-Midland Company has fluctuated over the past years, exhibiting both upward and downward trends. In the most recent quarter, ending September 30, 2024, the pretax margin was at 2.71%, which was a decrease from the previous quarter at 3.70%.
Looking further back, the pretax margin has shown a general decline since the earlier quarters of 2022, where it peaked at 5.24% in March 2022. The trend continued to decline until reaching a low of 2.46% in the last quarter of 2019. There was a slight improvement in the pretax margin in the most recent quarters compared to the lows observed in 2020 and early 2021.
The pretax margin is a measure of a company's efficiency in generating profits before taxes relative to its total revenue. The fluctuations in Archer-Daniels-Midland's pretax margin may reflect changing operating expenses, fluctuations in revenues, changes in pricing of goods or commodities, and other factors affecting the company's profitability.
Peer comparison
Sep 30, 2024