Farm products

7 companies · $79.6B combined revenue · $6.4B operating profit

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The typical US-listed farm products company grew revenue 7.1% and earnings -28.2% in its latest year, at a 8.9% operating margin, and 0 of 6 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.

7.1%Median revenue growth
-28.2%Median earnings growth
-3.3%Median revenue growth, 3 yrs
-20.3%Median earnings growth, 3 yrs
8.9%Median operating margin
5.8%Median ROCE
Fastest revenue growthAndersons ANDE9.1%Fastest earnings growthSeaboard SEB457%Highest ROCECal-Maine Foods CALM12.1%Biggest margin gainCorteva CTVA+1.8 pts

Growth engines: the 4 Cylinders

All four working: 0% of companies

A company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.

  • Sales growth · Revenue up 10% or more0%
  • Operating leverage · Operating income growing faster than a growing revenue33%
  • Margin expansion · Operating margin up 1 point or more17%
  • Debt reduction · Debt down 5% or more, or net cash33%

Combined revenue · 7 companies reporting in US dollars

Revenue
$0$50B$100B$150BFY21FY22FY23FY24FY25

Combined operating margin

Operating margin
0%5%10%15%FY21FY22FY23FY24FY25

All 7 companies

Median–7.1%-28.2%8.9%5.8%0.42x
ADMArcher-Daniels-Midland$25.0B2.4%▼-40.1%▼7.5%▼5.7%▼0.33x▲
BGBunge Global$16.9B9%▲-28.2%10.4%▲6%▲0.64x▼
DARDarling Ingredients$6.1B7.4%▲-77.5%▼4.5%▼3%▼0.82x▼
CTVACorteva$17.4B2.9%▼20.6%▲10.7%▲6.1%▲0.10x▲
SEBSeaboard$9.7B7.1%457%▲2.5%▼3.5%▼0.19x▲
CALMCal-Maine Foods$2.9B-31.7%▼-74%▼12%▲12.1%▲–
ANDEAndersons$1.5B9.1%▲-16.1%▲––0.50x▼

▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).