Archer Daniels Midland vs Dole
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The short version
- Archer Daniels Midland is the larger business, with $80.3B of revenue in fiscal 2025 against $9.2B for Dole, about 8.8 times as much.
- Dole grew revenue faster (8.2%, against −6.2%).
- Archer Daniels Midland turned more of its sales into free cash flow (5.2% FCF margin, against 0.0%).
- Dole earned a higher return on the capital invested in it (6.3%, against 5.2%).
| Latest fiscal year | ADM · FY25 | DOLE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $38.9B | $1.3B |
| Revenue | $80.3B | $9.2B |
| Free cash flow | $4.2B | $1.7M |
| Net income | $1.1B | $51.3M |
| Growth | ||
| Revenue growth | −6.2% | 8.2% |
| 5-year growth | 4.5% | 16.1% |
| Share count change | −1.8% | 0.5% |
| Profitability | ||
| Gross margin | 6.3% | 7.8% |
| Operating margin | — | 2.4% |
| Net margin | 1.3% | 0.6% |
| FCF margin | 5.2% | 0.0% |
| Return on capital | 5.2% | 6.3% |
| Return on equity | 4.8% | 3.9% |
| Balance sheet | ||
| Net debt | $7.4B | $600M |
| Net debt / EBITDA | 2.4x | 1.8x |
| Dividends and buybacks | $987M | $31.6M |
| Valuation & quality | ||
| P/E | 22.0x | — |
| Piotroski F-score | 5 | 6 |
Revenue
FY16
ADM $62.3B
DOLE —
FY17
ADM $60.8B
DOLE —
FY18
ADM $64.3B
DOLE —
FY19
ADM $64.7B
DOLE $4.2B
FY20
ADM $64.4B
DOLE $4.3B
FY21
ADM $85.2B
DOLE $5.9B
FY22
ADM $101.6B
DOLE $8.0B
FY23
ADM $93.9B
DOLE $8.2B
FY24
ADM $85.5B
DOLE $8.5B
FY25
ADM $80.3B
DOLE $9.2B
ADM
DOLE
Operating margin
FY16
ADM —
DOLE —
FY17
ADM —
DOLE —
FY18
ADM —
DOLE —
FY19
ADM —
DOLE 1.1%
FY20
ADM —
DOLE 1.5%
FY21
ADM —
DOLE −0.2%
FY22
ADM —
DOLE 2.2%
FY23
ADM —
DOLE 3.3%
FY24
ADM —
DOLE 3.3%
FY25
ADM —
DOLE 2.4%
ADM
DOLE
Free cash flow
FY16
ADM −$7.4B
DOLE —
FY17
ADM −$7.0B
DOLE —
FY18
ADM −$5.6B
DOLE —
FY19
ADM −$6.3B
DOLE $48.3M
FY20
ADM −$3.2B
DOLE $121M
FY21
ADM $5.4B
DOLE −$42.2M
FY22
ADM $2.2B
DOLE $153M
FY23
ADM $3.0B
DOLE $221M
FY24
ADM $1.2B
DOLE $180M
FY25
ADM $4.2B
DOLE $1.7M
ADM
DOLE
Return on capital
FY16
ADM 6.5%
DOLE —
FY17
ADM 8.0%
DOLE —
FY18
ADM 8.5%
DOLE —
FY19
ADM 6.6%
DOLE —
FY20
ADM 7.4%
DOLE —
FY21
ADM 9.8%
DOLE −0.4%
FY22
ADM 14.8%
DOLE 7.5%
FY23
ADM 12.5%
DOLE 9.5%
FY24
ADM 7.4%
DOLE 9.1%
FY25
ADM 5.2%
DOLE 6.3%
ADM
DOLE
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.