ADM vs BUD
Archer-Daniels-Midland Co. and Anheuser-Busch InBev SA/NV, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | ADM | BUD |
|---|---|---|
| Revenue | $80.3B | $59.3B |
| Net income | $1.1B | $6.8B |
| Gross margin | 6.3% | 55.9% |
| Net margin | 1.3% | 14.3% |
| Return on equity | 4.8% | 8.3% |
| Diluted EPS | $2.23 | $3.39 |
| Dividend / share | $2.04 | · |
| Payout ratio | 91.6% | 66.4% |
| Free cash flow | $4.2B | $11.2B |
| Equity | · | $87.3B |
| Net debt / equity | 0.29× | 0.70× |
| Current ratio | 1.37× | 0.72× |
| Revenue CAGR 5y | 4.5% | 4.8% |
| Profit CAGR 5y | −9.5% | 37.2% |
ADM bills 1.4× the revenue of BUD, and BUD keeps more of each dollar of revenue as profit (14.3% against 1.3%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | ADM | BUD |
|---|---|---|
| FY2025 | $80.3B | $59.3B |
| FY2024 | $85.5B | $59.8B |
| FY2023 | $93.9B | $59.4B |
| FY2022 | $101.6B | $57.8B |
| FY2021 | $85.2B | $54.3B |
| FY2020 | $64.4B | $46.9B |
| FY2019 | $64.7B | $52.3B |
| FY2018 | $64.3B | $53.0B |
| FY2017 | $60.8B | $54.9B |
| FY2016 | $62.3B | $45.5B |
Bottom line
| Fiscal year | ADM | BUD |
|---|---|---|
| FY2025 | $1.1B | $6.8B |
| FY2024 | $1.8B | $5.9B |
| FY2023 | $3.5B | $5.3B |
| FY2022 | $4.3B | $6.0B |
| FY2021 | $2.7B | $4.7B |
| FY2020 | $1.8B | $1.4B |
| FY2019 | $1.4B | $9.2B |
| FY2018 | $1.8B | $4.4B |
| FY2017 | $1.6B | $8.0B |
| FY2016 | $1.3B | $1.2B |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$20,949,000,000 | ADM |
| FY2024 | +$25,762,000,000 | ADM |
| FY2023 | +$34,555,000,000 | ADM |
| FY2022 | +$43,770,000,000 | ADM |
| FY2021 | +$30,945,000,000 | ADM |
| FY2020 | +$17,474,000,000 | ADM |
| FY2019 | +$12,327,000,000 | ADM |
| FY2018 | +$11,300,000,000 | ADM |
| FY2017 | +$5,969,000,000 | ADM |
| FY2016 | +$16,829,000,000 | ADM |
| FY2015 | +$24,638,000,000 | ADM |
ADM has reported the higher revenue in every one of these 11 fiscal years. The gap has narrowed since the earliest year compared.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −13.0 pp | BUD |
| FY2024 | −10.3 pp | BUD |
| FY2023 | −7.9 pp | BUD |
| FY2022 | −8.8 pp | BUD |
| FY2021 | −8.1 pp | BUD |
| FY2020 | −1.9 pp | BUD |
| FY2019 | −17.8 pp | BUD |
| FY2018 | −7.9 pp | BUD |
| FY2017 | −14.1 pp | BUD |
| FY2016 | −4.0 pp | BUD |
| FY2015 | −20.2 pp | BUD |
BUD has kept the higher net margin in every one of these 11 fiscal years.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BUD's net margin has been more volatile than ADM's over the 11 comparable fiscal years — 5.1 percentage points of standard deviation against 0.8.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
BUD led in net margin in every one of the 11 comparable fiscal years — a structural lead, not a recent swing.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
ADM's return on equity has been more volatile than BUD's over the 10 comparable fiscal years — 3.9 percentage points of standard deviation against 3.3.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between ADM and BUD over these 10 fiscal years — ADM led in 7 and BUD in 3.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.