ADM vs PEP
Archer-Daniels-Midland Co. and PepsiCo Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | ADM | PEP |
|---|---|---|
| Revenue | $80.3B | $93.9B |
| Net income | $1.1B | $8.2B |
| Gross margin | 6.3% | 54.1% |
| Net margin | 1.3% | 8.8% |
| Return on equity | 4.8% | 42.9% |
| Diluted EPS | $2.23 | $6.00 |
| Dividend / share | $2.04 | $5.62 |
| Payout ratio | 91.6% | 92.7% |
| Free cash flow | $4.2B | $7.7B |
| Equity | · | $20.4B |
| Net debt / equity | 0.29× | 1.96× |
| Current ratio | 1.37× | 0.85× |
| Revenue CAGR 5y | 4.5% | 5.9% |
| Profit CAGR 5y | −9.5% | 3.0% |
PEP bills 1.2× the revenue of ADM, and keeps more of each dollar of revenue as profit (8.8% 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 | PEP |
|---|---|---|
| FY2025 | $80.3B | $93.9B |
| FY2024 | $85.5B | $91.9B |
| FY2023 | $93.9B | $91.5B |
| FY2022 | $101.6B | $86.4B |
| FY2021 | $85.2B | $79.5B |
| FY2020 | $64.4B | $70.4B |
| FY2019 | $64.7B | $67.2B |
| FY2018 | $64.3B | $64.7B |
| FY2017 | $60.8B | $63.5B |
| FY2016 | $62.3B | $62.8B |
Bottom line
| Fiscal year | ADM | PEP |
|---|---|---|
| FY2025 | $1.1B | $8.2B |
| FY2024 | $1.8B | $9.6B |
| FY2023 | $3.5B | $9.1B |
| FY2022 | $4.3B | $8.9B |
| FY2021 | $2.7B | $7.6B |
| FY2020 | $1.8B | $7.1B |
| FY2019 | $1.4B | $7.3B |
| FY2018 | $1.8B | $12.5B |
| FY2017 | $1.6B | $4.9B |
| FY2016 | $1.3B | $6.3B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$13,656,000,000 | PEP |
| FY2024 | −$6,324,000,000 | PEP |
| FY2023 | +$2,464,000,000 | ADM |
| FY2022 | +$15,164,000,000 | ADM |
| FY2021 | +$5,775,000,000 | ADM |
| FY2020 | −$6,017,000,000 | PEP |
| FY2019 | −$2,505,000,000 | PEP |
| FY2018 | −$320,000,000 | PEP |
| FY2017 | −$2,697,000,000 | PEP |
| FY2016 | −$453,000,000 | PEP |
| FY2015 | +$4,646,000,000 | ADM |
| FY2014 | +$14,518,000,000 | ADM |
| FY2013 | +$23,389,000,000 | ADM |
| FY2012 | +$25,067,000,000 | ADM |
| FY2011 | +$22,534,000,000 | ADM |
| FY2010 | +$22,838,000,000 | ADM |
| FY2009 | +$18,450,000,000 | ADM |
| FY2008 | +$25,956,000,000 | ADM |
| FY2007 | +$30,342,000,000 | ADM |
The higher-revenue side has changed between ADM and PEP over this period. The gap has narrowed since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −7.5 pp | PEP |
| FY2024 | −8.4 pp | PEP |
| FY2023 | −6.3 pp | PEP |
| FY2022 | −6.1 pp | PEP |
| FY2021 | −6.5 pp | PEP |
| FY2020 | −7.4 pp | PEP |
| FY2019 | −8.8 pp | PEP |
| FY2018 | −16.6 pp | PEP |
| FY2017 | −5.1 pp | PEP |
| FY2016 | −8.1 pp | PEP |
| FY2015 | −6.0 pp | PEP |
| FY2014 | −7.1 pp | PEP |
| FY2013 | −8.7 pp | PEP |
| FY2012 | −8.0 pp | PEP |
| FY2011 | −8.3 pp | PEP |
| FY2010 | −8.5 pp | PEP |
| FY2009 | −10.7 pp | PEP |
| FY2008 | −9.5 pp | PEP |
| FY2007 | −11.8 pp | PEP |
PEP has kept the higher net margin in every one of these 19 fiscal years.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
PEP's net margin has been more volatile than ADM's over the 19 comparable fiscal years — 2.5 percentage points of standard deviation against 0.8.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
PEP led in net margin in every one of the 19 comparable fiscal years — a structural lead, not a recent swing.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
PEP's return on equity has been more volatile than ADM's over the 19 comparable fiscal years — 15.5 percentage points of standard deviation against 3.3.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
PEP led in return on equity in every one of the 19 comparable fiscal years — a structural lead, not a recent swing.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.