ADMArcher Daniels Midland

Consumer staples · Agricultural Products · NYSE

Archer-Daniels-Midland Company and its subsidiaries (the "Company" or "ADM") unlocks the power of nature to enrich the quality of life. 10-K, Item 1

Headquarters: Chicago, IL
CEO: Juan Luciano
Next results: around Feb 2, 2027

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What the 10-K filed 2026-02-17 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-20.

Big customers

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

No specific sentence about this in the 10-K.

Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

No specific sentence about this in the 10-K.

Lawsuits and legal claims

1 new

Pending cases, settlements and what the company has set aside for them.

“On September 4, 2019, AOT Holding AG (“AOT”) filed a putative class action under the U.S.”
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“Commodities Exchange Act in federal district court in Urbana, Illinois, alleging that the Company sought to manipulate the benchmark price used to price and settle ethanol derivatives traded on futures exchanges.”
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“On March 16, 2021, AOT filed an amended complaint adding a second named plaintiff Maize Capital Group, LLC (“Maize”).”
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“Also, as previously disclosed, beginning on March 29, 2024, purported stockholders of the Company filed a number of related derivative lawsuits against certain current and former officers and directors of the Company, seeking unspecified damages.”
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New “Several other purported stockholders who did not make pre-suit demands filed additional derivative lawsuits in the Chancery Court of Delaware against certain current and former officers and directors of the Company, seeking unspecified damages; these actions have been consolidated in the Court of Chancery.”
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Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

“The Company had outstanding standby letters of credit and surety bonds at December 31, 2025 and 2024, totaling $1.2 billion and $1.4 billion, respectively.”
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Debt covenants

Conditions in loan agreements that, if broken, can make debt due early.

“The Company’s credit facilities and certain debentures require the Company to comply with specified financial and non-financial covenants including maintenance of minimum tangible net worth as well as limitations related to incurring liens, secured debt, and certain other financing arrangements.”
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“The Company was in compliance with these covenants as of December 31, 2025.”
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Commitments off the balance sheet

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

“The Company’s purchase obligations as of December 31, 2025 and 2024 were $13.8 billion and $12.4 billion, respectively.”
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“As of December 31, 2025, the Company expects to make payments related to purchase obligations of $12.5 billion within the next twelve months.”
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“The Company expects to make payments related to debt and interest, operating leases, purchase obligations and other material cash requirements beyond the next twelve months of approximately $15.3 billion.”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

Work on ADM in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/ADM/export.csv") into a cell.