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Side-by-side financial comparison of Archer Daniels Midland (ADM) and Energy Transfer LP (ET). Click either name above to swap in a different company.
Energy Transfer LP is the larger business by last-quarter revenue ($25.3B vs $20.5B, roughly 1.2× Archer Daniels Midland). Energy Transfer LP runs the higher net margin — 4.9% vs 1.5%, a 3.4% gap on every dollar of revenue. On growth, Energy Transfer LP posted the faster year-over-year revenue change (29.6% vs 1.6%). Over the past eight quarters, Energy Transfer LP's revenue compounded faster (10.4% CAGR vs -4.0%).
The Archer-Daniels-Midland Company, commonly known as ADM, is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois. The company operates more than 270 plants and 420 crop procurement facilities worldwide, where cereal grains and oilseeds are processed into products used in food, beverage, nutraceutical, industrial, and animal feed markets worldwide.
Energy Transfer LP is an American company engaged in the pipeline transportation, storage, and terminaling for natural gas, crude oil, natural gas liquids (NGLs), refined products and liquid natural gas, as well as NGL fractionation. It is a publicly traded limited partnership organized under Delaware state laws and headquartered in Dallas, Texas. It was founded in 1996 by Ray Davis and Kelcy Warren, who remains Executive Chairman.
ADM vs ET — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2026
| Metric | | |
|---|---|---|
| Revenue | $20.5B | $25.3B |
| Net Profit | $298.0M | $1.2B |
| Gross Margin | 6.0% | — |
| Operating Margin | — | 8.2% |
| Net Margin | 1.5% | 4.9% |
| Revenue YoY | 1.6% | 29.6% |
| Net Profit YoY | 1.0% | -14.4% |
| EPS (diluted) | $0.62 | $0.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 26 | — | $25.3B | ||
| Q1 26 | $20.5B | $27.8B | ||
| Q4 25 | $6.1B | $25.3B | ||
| Q3 25 | $6.4B | $20.0B | ||
| Q2 25 | $6.3B | $19.2B | ||
| Q1 25 | $6.1B | $21.0B | ||
| Q4 24 | $-25.7B | $19.5B | ||
| Q3 24 | $6.0B | $20.8B |
| Q4 26 | — | $1.2B | ||
| Q1 26 | $298.0M | $2.0B | ||
| Q4 25 | $456.0M | $928.0M | ||
| Q3 25 | $108.0M | $1.0B | ||
| Q2 25 | $219.0M | $1.2B | ||
| Q1 25 | $295.0M | $1.3B | ||
| Q4 24 | $567.0M | $1.1B | ||
| Q3 24 | $18.0M | $1.2B |
| Q4 26 | — | — | ||
| Q1 26 | 6.0% | — | ||
| Q4 25 | 20.0% | 23.3% | ||
| Q3 25 | 19.8% | 27.0% | ||
| Q2 25 | 21.6% | 27.5% | ||
| Q1 25 | 19.2% | 25.9% | ||
| Q4 24 | — | 27.6% | ||
| Q3 24 | 22.8% | 24.8% |
| Q4 26 | — | 8.2% | ||
| Q1 26 | — | 10.7% | ||
| Q4 25 | 7.9% | 8.2% | ||
| Q3 25 | 2.3% | 10.8% | ||
| Q2 25 | 4.4% | 12.0% | ||
| Q1 25 | 5.7% | 11.9% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | 1.8% | 10.5% |
| Q4 26 | — | 4.9% | ||
| Q1 26 | 1.5% | 7.1% | ||
| Q4 25 | 7.5% | 3.7% | ||
| Q3 25 | 1.7% | 5.1% | ||
| Q2 25 | 3.5% | 6.0% | ||
| Q1 25 | 4.8% | 6.3% | ||
| Q4 24 | -2.2% | 5.5% | ||
| Q3 24 | 0.3% | 5.7% |
| Q4 26 | — | $0.25 | ||
| Q1 26 | $0.62 | $0.35 | ||
| Q4 25 | $0.95 | — | ||
| Q3 25 | $0.22 | — | ||
| Q2 25 | $0.45 | — | ||
| Q1 25 | $0.61 | — | ||
| Q4 24 | $1.21 | — | ||
| Q3 24 | $0.04 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $591.0M | — |
| Total DebtLower is stronger | $1.7B | $68.3B |
| Stockholders' EquityBook value | $22.8B | $49.0B |
| Total Assets | — | $141.3B |
| Debt / EquityLower = less leverage | 0.08× | 1.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 26 | — | — | ||
| Q1 26 | $591.0M | — | ||
| Q4 25 | $1.0B | $1.3B | ||
| Q3 25 | $1.2B | $3.6B | ||
| Q2 25 | $1.1B | $242.0M | ||
| Q1 25 | $864.0M | — | ||
| Q4 24 | $611.0M | $312.0M | ||
| Q3 24 | $784.0M | — |
| Q4 26 | — | $68.3B | ||
| Q1 26 | $1.7B | $69.3B | ||
| Q4 25 | $7.6B | $68.3B | ||
| Q3 25 | — | $63.1B | ||
| Q2 25 | — | $60.8B | ||
| Q1 25 | — | $59.8B | ||
| Q4 24 | $8.3B | $59.8B | ||
| Q3 24 | $7.6B | $59.3B |
| Q4 26 | — | $49.0B | ||
| Q1 26 | $22.8B | $49.7B | ||
| Q4 25 | $22.7B | $49.0B | ||
| Q3 25 | $22.5B | $45.3B | ||
| Q2 25 | $22.4B | $45.5B | ||
| Q1 25 | $22.1B | $46.2B | ||
| Q4 24 | $22.2B | $46.0B | ||
| Q3 24 | $22.0B | $46.2B |
| Q4 26 | — | $141.3B | ||
| Q1 26 | — | $147.5B | ||
| Q4 25 | $52.4B | $141.3B | ||
| Q3 25 | $51.9B | $129.3B | ||
| Q2 25 | $52.0B | $125.0B | ||
| Q1 25 | $53.4B | $126.4B | ||
| Q4 24 | $53.3B | $125.4B | ||
| Q3 24 | $52.2B | $124.4B |
| Q4 26 | — | 1.39× | ||
| Q1 26 | 0.08× | 1.39× | ||
| Q4 25 | 0.33× | 1.39× | ||
| Q3 25 | — | 1.39× | ||
| Q2 25 | — | 1.33× | ||
| Q1 25 | — | 1.30× | ||
| Q4 24 | 0.37× | 1.30× | ||
| Q3 24 | 0.35× | 1.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADM
| Ag Services and Oilseeds | $16.0B | 78% |
| Carbohydrate Solutions | $2.6B | 12% |
| Nutrition | $1.8B | 9% |
ET
Segment breakdown not available.
