Archer-Daniels-Midland (ADM) is a global agricultural giant known for processing and trading products, including food ingredients, animal feeds, and biofuels.
It produces a wide variety of crops, including soybeans, corn, and wheat, and also innovates, having developed or contributed to the development of products like textured vegetable protein, high-fructose corn syrup, ethanol, and Omega-3 fatty acids.
Today, the company is one of the largest in the world by revenue, bringing in $86 billion in 2024. It's paid dividends for 93 consecutive years, and it's a Dividend King, having raised its dividend every year for 51 years.
ADM delivered steady profit growth from 2016 to 2022, benefiting from strong demand for crops and biofuel. However, profits pulled back through 2025 due to weak crush margins, or the processing of soybeans into meal and oil. In 2026, profits have bounced back as the war in Iran sent demand for biofuel up as a substitute for oil.
Over the long term, ADM's economies of scale and vertical integration give it a competitive advantage in agriculture, and investors should expect steady growth as global demand for food and biofuels continues to grow.
2. Bayer