{"slug":"archer-daniels-midland","name":"아처 대니얼스 미들랜드","name_en":"Archer-Daniels-Midland Company","ticker":"ADM","updated_at":"2026-09-12T00:00:36.953639+00:00","canonical":"https://valuechain.wiki/archer-daniels-midland","citable":"밸류체인 그래프 기준 아처 대니얼스 미들랜드의 직접 연결 기업은 3곳(관계 기준 공급 1·매출 2)이고, 사슬을 2차까지 넓히면 12곳에 닿는다. 링크의 근거 출처는 10건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-09-12 기준).","citable_en":"Per the valuechain.wiki graph, Archer-Daniels-Midland Company is directly linked to 3 companies (1 supply, 2 revenue relationships) and reaches 12 companies within two hops; the links are backed by 10 dated sources, 1 of them primary filings (as of 2026-09-12).","kicker":"글로벌 농산물 가공사","kicker_en":"Global agricultural processor","lead":"아처 대니얼스 미들랜드는 곡물과 유지종자를 조달·운송·가공해 식품, 사료, 에너지 고객에게 원료와 제품을 판매한다. 농산물 매입과 물류, 생산설비, 정보기술 서비스에 비용을 쓰며, 합작사와 지분투자로 가공·유통망을 확장한다.","lead_en":"Archer-Daniels-Midland sources, transports, and processes grains and oilseeds into ingredients and products for food, feed, and energy customers. It spends on agricultural inputs, logistics, production assets, and technology services while extending its processing and distribution network through joint ventures and equity investments.","categories":[{"key":"food-supply-processing-distribution","ko":"식품 원료가공·유통","en":"Food Processing & Distribution","theme":"consumer-commerce","theme_ko":"소비 브랜드·유통","theme_en":"Consumer Brands & Commerce","theme_kind":"sector","primary":true}],"segments":{"parts":[{"name":"농산물 서비스·유지종자","note":"곡물 조달·유통·보관, 유지종자 압착, 정제유와 단백박 판매. FY2025 매출 615억7,100만달러"},{"name":"탄수화물 솔루션","note":"옥수수·밀 가공, 전분·감미료·에탄올 생산. FY2025 매출 107억3,700만달러"},{"name":"영양","note":"인체·동물용 향미, 단백질, 미생물 솔루션과 사료 제품. FY2025 매출 75억1,200만달러"},{"name":"기타 사업","note":"선물중개와 보험 사업. FY2025 매출 4억4,900만달러"}],"total":"FY2025 총매출 802억6,900만달러","track":"C"},"segments_en":{"parts":[{"name":"Ag Services and Oilseeds","note":"Origination, merchandising, storage, oilseed crushing, and sales of refined oils and protein meals. FY2025 revenue: $61.571 billion"},{"name":"Carbohydrate Solutions","note":"Corn and wheat processing into starches, sweeteners, and ethanol. FY2025 revenue: $10.737 billion"},{"name":"Nutrition","note":"Flavors, proteins, microbiome solutions, and feed products for human and animal markets. FY2025 revenue: $7.512 billion"},{"name":"Other Business","note":"Futures commission and captive insurance activities. FY2025 revenue: $449 million"}],"total":"FY2025 total revenues: $80.269 billion"},"returns_yearly":{"2021":37.3,"2022":40,"2023":-20.4,"2024":-27.5,"2025":18.2,"2026":41.8},"return_asof":"2026-10-09","value_chain":{"leading":[{"slug":"unitedhealth-group","name":"유나이티드헬스 그룹","name_en":"UnitedHealth Group Incorporated","tier":3,"returns_yearly":{"2021":45.2,"2022":6.9,"2023":0.8,"2024":-2.4,"2025":-33.1,"2026":21.9}},{"slug":"doordash","name":"도어대시","name_en":"DoorDash, Inc.","tier":3,"returns_yearly":{"2022":-67.2,"2023":102.6,"2024":69.6,"2025":35,"2026":-6.5}},{"slug":"uber","name":"Uber","name_en":"Uber","tier":3,"returns_yearly":{"2021":-17.8,"2022":-41,"2023":149,"2024":-2,"2025":35.5,"2026":-7.3}},{"slug":"caseys","name":"케이시스","name_en":"Casey's","tier":2,"returns_yearly":{"2021":11.2,"2022":14.5,"2023":23.3,"2024":45,"2025":40.1,"2026":17.2}},{"slug":"sysco","name":"시스코","name_en":"Sysco Corporation","tier":2,"returns_yearly":{"2021":8.3,"2022":-0.3,"2023":-1.7,"2024":7.4,"2025":-1,"2026":11}},{"slug":"costco","name":"Costco Wholesale","name_en":"Costco Wholesale","tier":2,"returns_yearly":{"2021":51.8,"2022":-19,"2023":49,"2024":39.6,"2025":-5.4,"2026":10.3}},{"slug":"dollar-general","name":"달러 제너럴","name_en":"Dollar General Corporation","tier":2,"returns_yearly":{"2021":13,"2022":5.6,"2023":-44.1,"2024":-43.1,"2025":79.6,"2026":1.8}},{"slug":"walmart","name":"Walmart Inc","name_en":"Walmart Inc","tier":2,"returns_yearly":{"2021":2,"2022":-0.5,"2023":12.9,"2024":74,"2025":24.5,"2026":0.6}},{"slug":"seven-i-holdings","name":"세븐앤아이홀딩스","name_en":"Seven & I Holdings","tier":2,"returns_yearly":{"2021":44.4,"2022":11.5,"2023":-2.5,"2024":28.9,"2025":-8.5,"2026":-7.5}},{"slug":"emart","name":"이마트","name_en":"E-mart Inc.","tier":2,"returns_yearly":{"2021":-18.4,"2022":-19.5,"2023":-25.3,"2024":-14.6,"2025":44.7,"2026":-21.1}},{"slug":"marathon-petroleum","name":"마라톤 페트롤리엄","name_en":"Marathon Petroleum Corporation","tier":1,"returns_yearly":{"2021":61,"2022":86.6,"2023":30.5,"2024":-4.1,"2025":19.2,"2026":183}},{"slug":"pepsico","name":"PepsiCo","name_en":"PepsiCo","tier":1,"returns_yearly":{"2021":20.6,"2022":6.8,"2023":-3.3,"2024":-7.6,"2025":-1.8,"2026":-2.2}}],"benefiting":[{"slug":"norfolk-southern","name":"노퍽 서던","name_en":"Norfolk Southern","tier":1,"returns_yearly":{"2021":27.3,"2022":-15.6,"2023":-1.6,"2024":1.6,"2025":25.6,"2026":15.6}},{"slug":"wabtec","name":"웹텍","name_en":"Wabtec Corporation","tier":2,"returns_yearly":{"2021":26.5,"2022":9.1,"2023":28,"2024":50.1,"2025":13.2,"2026":34.2}},{"slug":"union-pacific","name":"유니언 퍼시픽","name_en":"Union Pacific Corporation","tier":2,"returns_yearly":{"2021":23.3,"2022":-15.9,"2023":21.6,"2024":-5.1,"2025":3.9,"2026":22.1}},{"slug":"vulcan-materials-company","name":"벌컨 머티리얼스","name_en":"Vulcan Materials Company","tier":3,"returns_yearly":{"2021":41.1,"2022":-14.9,"2023":30.8,"2024":14.1,"2025":11.7,"2026":-7.4}},{"slug":"martin-marietta-materials","name":"마틴 마리에타 머티리얼스","name_en":"Martin Marietta Materials, Inc.","tier":3,"returns_yearly":{"2021":56.1,"2022":-22.7,"2023":48.6,"2024":4.1,"2025":21.3,"2026":-17}}],"analysis":"글로벌 농산물 가공사 기업. 2026년 +50.2%로 강하게 올랐다. 수요단(평균 +69.9%)·본주(+50.2%)·공급단(평균 +15.6%)이 비슷한 보폭이다. 전파가 한 바퀴 돈 동조 국면이라, 다음 구간은 사슬 방향보다 개별 실적이 가른다. 연결 노드 중 가장 앞선 곳은 마라톤 페트롤리엄(+141.9%), 가장 처진 곳은 펩시코(-2.2%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다.","analysis_en":"Archer-Daniels-Midland Company operates across Global agricultural processor. It is up +50.2% in 2026. Demand side (avg +69.9%), the stock (+50.2%) and supply side (avg +15.6%) are moving in step. Propagation has completed a lap, so the next leg depends on individual results more than chain direction. Among connected nodes the furthest ahead is Marathon Petroleum Corporation (+141.9%) and the furthest behind is PepsiCo (-2.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It spends on agricultural inputs, logistics, production assets, and technology services while extending its processing and distribution network through joint ventures and equity investments.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investment","counterparty":"Wilmar International","counterparty_slug":null,"confidence":"high","metric":{"type":"share","unit":"percent","as_of":"2025-12-31","basis":"ADM의 Wilmar International 지분율","value":22.5,"period":"FY2025 year-end","basis_en":"ADM ownership interest in Wilmar International","qualifier":null},"note":"ADM은 2025년 말 윌마 지분 22.5%를 보유했다. 10-K에 따르면 이 지분의 장부가치는 40억달러, 시장가치는 34억달러였고, 과거 한국어 보도자료와 학술 분석에서도 장기 지분·사업 관계가 확인된다.","note_en":"ADM owned 22.5% of Wilmar at year-end 2025. Its Form 10-K reported a $4.0 billion carrying value and $3.4 billion market value, while older Korean-language corporate news and academic research establish the relationship's long history.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/7084/000000708426000011/adm-20251231.htm","title":"아처 대니얼스 미들랜드 2025 회계연도 Form 10-K","title_en":"Archer-Daniels-Midland Company 2025 Form 10-K","excerpt":"ADM은 2025년 12월 31일 현재 Wilmar International 지분 22.5%를 보유했다.","excerpt_en":"The Company had a 22.5% share ownership in Wilmar International Limited as of December 31, 2025 and 2024."},{"stance":"mentions","publisher":"안달라스 국제학 저널","publisher_en":"Andalas Journal of International Studies","kind":"research","lang":"en","published_at":"2023-11-01","url":"https://www.researchgate.net/publication/383507251_Business_Strategy_of_Multinational_Trading_Firm_in_Agriculture_Sector_Case_Study_of_Archer_Daniels_Midland_Amid_Pandemic_and_Geopolitical_Conflict","title":"농업 부문 다국적 무역기업의 사업전략: 팬데믹과 지정학적 갈등 속 ADM 사례","title_en":"Business Strategy of Multinational Trading Firm in Agriculture Sector: Case Study of Archer Daniels Midland Amid Pandemic and Geopolitical Conflict","excerpt":"ADM은 1994년부터 윌마의 주요 투자자였다.","excerpt_en":"ADM has been a significant investor in Wilmar since 1994."},{"stance":"mentions","publisher":"뉴스와이어","publisher_en":"Korea Newswire","kind":"news","lang":"ko","published_at":"2014-06-12","url":"https://www.newswire.co.kr/newsRead.php?no=754264","title":"ADM, 아태지역 시장 수요에 부응하기 위해 투자 및 인력 확대","title_en":"ADM Expands Presence in Asia-Pacific to Serve Growing Market","excerpt":"ADM은 아시아 농가공업체인 윌마 인터내셔널의 지분 16.8%를 보유하고 있다.","excerpt_en":"ADM also holds a 16.8 percent stake in Asian agribusiness Wilmar International Limited."}]},{"direction":"revenue","counterparty":"Wilmar International","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-17","basis":"윌마에 공급한 원재료 매출","value":null,"period":"FY2025","basis_en":"Revenue from raw materials supplied to Wilmar","qualifier":"confirmed_no_disclosed_value"},"note":"ADM은 윌마에 원재료를 공급한다고 2025년 10-K에서 직접 밝혔다. 학술 분석도 윌마를 ADM의 주요 고객이자 전략적 무역 파트너로 분류하지만, 윌마별 매출은 공개되지 않았다.","note_en":"ADM states in its 2025 Form 10-K that it supplies raw materials to Wilmar. Academic research also describes Wilmar as a major customer and strategic trading partner, but ADM does not disclose Wilmar-specific revenue.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/7084/000000708426000011/adm-20251231.htm","title":"아처 대니얼스 미들랜드 2025 회계연도 Form 10-K","title_en":"Archer-Daniels-Midland Company 2025 Form 10-K","excerpt":"회사는 Wilmar, SoyVen, Olenex, Edible Oils, Stratas Foods에 원재료를 공급한다.","excerpt_en":"The Company is a supplier of raw materials to Wilmar, SoyVen, Olenex Sarl, Edible Oils Limited, and Stratas Foods LLC."},{"stance":"confirms","publisher":"안달라스 국제학 저널","publisher_en":"Andalas Journal of International Studies","kind":"research","lang":"en","published_at":"2023-11-01","url":"https://www.researchgate.net/publication/383507251_Business_Strategy_of_Multinational_Trading_Firm_in_Agriculture_Sector_Case_Study_of_Archer_Daniels_Midland_Amid_Pandemic_and_Geopolitical_Conflict","title":"농업 부문 다국적 무역기업의 사업전략: 팬데믹과 지정학적 갈등 속 ADM 사례","title_en":"Business Strategy of Multinational Trading Firm in Agriculture Sector: Case Study of Archer Daniels Midland Amid Pandemic and Geopolitical Conflict","excerpt":"윌마는 전략적 파트너이며 ADM의 가장 큰 고객 중 하나다.","excerpt_en":"Wilmar is a strategic partner and one of ADM's largest customers."}]},{"direction":"revenue","counterparty":"마라톤 페트롤리엄","counterparty_slug":"marathon-petroleum","confidence":"mid","metric":{"type":"count","unit":"lb/year","as_of":"2023-11-14","basis":"Green Bison이 마라톤 페트롤리엄의 재생디젤 원료로 공급하는 정제 대두유 연간 생산능력","value":600000000,"period":"annual nameplate capacity","basis_en":"Annual refined soybean oil capacity supplying Marathon Petroleum's renewable diesel operations","qualifier":"nameplate_capacity"},"note":"ADM이 75%를 보유한 Green Bison 합작사는 정제 대두유를 마라톤 페트롤리엄에 공급한다. 2023년 완공된 시설은 연간 최대 6억파운드의 정제 대두유 생산능력을 갖췄으며 상대별 실제 매출은 공개되지 않았다.","note_en":"Green Bison, a joint venture 75% owned by ADM, supplies refined soybean oil to Marathon Petroleum. The completed facility can produce up to 600 million pounds annually, although relationship-specific revenue is not disclosed.","sources":[{"stance":"confirms","publisher":"노스다코타 주지사실","publisher_en":"North Dakota Office of the Governor","kind":"news","lang":"en","published_at":"2023-11-14","url":"https://www.governor.nd.gov/news/miller-highlights-benefits-ag-energy-ribbon-cutting-green-bison-soybean-crush-spiritwood","title":"밀러 부지사, Green Bison 대두 압착시설 준공식에서 농업·에너지 효과 강조","title_en":"Miller Highlights Benefits to Ag, Energy at Ribbon Cutting for Green Bison Soybean Crush in Spiritwood","excerpt":"Green Bison은 연간 최대 6억파운드의 정제 대두유를 생산해 MPC 재생디젤 정유소에 공급한다.","excerpt_en":"Green Bison will produce up to 600 million pounds of refined soybean oil per year"},{"stance":"confirms","publisher":"ADM","publisher_en":"ADM","kind":"ir","lang":"en","published_at":"2021-12-14","url":"https://www.adm.com/en-us/news/news-releases/2021/12/marathon-petroleum-corp2.-adm-announce-closing-of-feedstock-partnership/","title":"마라톤 페트롤리엄과 ADM, 원료 합작사 설립 완료 발표","title_en":"Marathon Petroleum Corp., ADM Announce Closing of Feedstock Partnership","excerpt":"시설은 생산된 대두유 전량을 MPC에 공급하고 연간 약 6억파운드를 생산할 예정이었다.","excerpt_en":"supply the resulting soybean oil exclusively to MPC. The Spiritwood complex is expected to produce approximately 600 million pounds"}]},{"direction":"cost","counterparty":"LTIMindtree","counterparty_slug":null,"confidence":"mid","metric":{"type":"contract_value","unit":"USD","as_of":"2025-05-12","basis":"Mint가 ADM 계약으로 보도한 애플리케이션·인프라·사이버보안 서비스 총계약액","value":450000000,"period":"seven-year agreement announced in 2025","basis_en":"Total value of the application, infrastructure, and cybersecurity services agreement that Mint attributed to ADM","qualifier":"media_identified_client"},"note":"LTIMindtree는 고객명을 밝히지 않은 글로벌 농업기업과 7년간 4억5,000만달러 규모의 IT 서비스 계약을 발표했고, Mint는 복수 관계자를 인용해 고객을 ADM으로 확인했다. 양사는 기사 발행 시점까지 고객 신원을 공식 확인하지 않았다.","note_en":"LTIMindtree announced a seven-year, $450 million IT services agreement with an unnamed global agribusiness company. Mint identified ADM through multiple sources, while noting that neither party had confirmed the client's identity by publication time.","sources":[{"stance":"mentions","publisher":"LTIMindtree","publisher_en":"LTIMindtree","kind":"ir","lang":"en","published_at":"2025-05-12","url":"https://www.ltm.com/news-events/press-releases/2025/ltimindtree-secures-450m-deal-with-global-agribusiness","title":"LTIMindtree, 글로벌 농업기업과 4억5,000만달러 다년 계약 체결","title_en":"LTIMindtree Secures $450 Million Multi-Year Deal with Global Agribusiness Leader","excerpt":"계약은 7년간 4억5,000만달러 규모이며 애플리케이션 관리, 인프라 지원, 사이버보안 서비스를 포함한다.","excerpt_en":"the largest deal in the history of LTIMindtree, valued at $450 million across seven years"},{"stance":"confirms","publisher":"민트","publisher_en":"Mint","kind":"news","lang":"en","published_at":"2025-05-12","url":"https://www.livemint.com/companies/news/ltimindtree-largest-deal-us-agribusiness-firm-adm-coforge-phoenix-infosys-hcl-tech-11747050315407.html","title":"LTIMindtree, 미국 농업기업 ADM에서 사상 최대 계약 수주","title_en":"LTIMindtree Bags Its Largest Deal from US Agribusiness Firm ADM","excerpt":"사안에 정통한 세 명은 LTIMindtree가 ADM에서 사상 최대 계약을 수주했다고 말했다.","excerpt_en":"LTIMindtree Ltd secured its largest deal from Archer-Daniels-Midland Co (ADM), three people with knowledge of the matter told Mint."}]},{"direction":"revenue","counterparty":"PepsiCo","counterparty_slug":"pepsico","confidence":"mid","metric":{"type":"count","unit":"acres","as_of":"2025-09-08","basis":"PepsiCo가 지원한 ADM 재생농업 프로그램의 옥수수·밀·대두 경작 면적","value":675000,"period":"2024 crop year","basis_en":"Corn, wheat, and soy acreage funded by PepsiCo in ADM's regenerative agriculture program","qualifier":null},"note":"ADM과 PepsiCo는 북미 공동 공급망에서 7.5년 상업 협약을 운영한다. 2024년 작기에는 ADM 프로그램의 옥수수·밀·대두 67만5,000에이커가 PepsiCo 지원 대상이었고, 생산 원료는 PepsiCo 브랜드에 연결됐다.","note_en":"ADM and PepsiCo operate a 7.5-year commercial agreement across shared North American supply chains. In the 2024 crop year, PepsiCo funded 675,000 acres of corn, wheat, and soy in ADM's program, with ingredients flowing to PepsiCo brands.","sources":[{"stance":"confirms","publisher":"ADM","publisher_en":"ADM","kind":"ir","lang":"en","published_at":"2025-09-08","url":"https://www.adm.com/globalassets/sustainability/2023-landing/2023-policies-and-reports/adm_regen-ag-report-2025_final.pdf","title":"ADM 2025 재생농업 보고서","title_en":"ADM 2025 Regenerative Agriculture Report","excerpt":"최근 작기에 재생 방식으로 재배된 옥수수·밀·대두 67만5,000에이커에서 PepsiCo가 최대 단일 지원자였다.","excerpt_en":"675,000 acres of regeneratively grown corn, wheat and soy farmed in the last crop year, making PepsiCo the largest single funder"},{"stance":"confirms","publisher":"ADM","publisher_en":"ADM","kind":"ir","lang":"en","published_at":"2022-09-14","url":"https://investors.adm.com/news/news-details/2022/PepsiCo-ADM-Announce-Groundbreaking-Agreement-Aiming-to-Reduce-Carbon-Intensity-by-Supporting-Regenerative-Agriculture-Practices-on-Up-to-2-Million-Acres-of-Farmland/default.aspx","title":"PepsiCo와 ADM, 최대 200만 에이커 재생농업 지원 협약 발표","title_en":"PepsiCo, ADM Announce Groundbreaking Agreement Aiming to Reduce Carbon Intensity by Supporting Regenerative Agriculture Practices on Up to 2 Million Acres of Farmland","excerpt":"두 회사는 북미 공동 공급망에서 재생농업을 확대하는 7.5년 전략적 상업 협약을 발표했다.","excerpt_en":"a 7.5-year strategic commercial agreement to closely collaborate on projects that aim to significantly expand regenerative agriculture"}]},{"direction":"cost","counterparty":"노퍽 서던","counterparty_slug":"norfolk-southern","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2023-09-12","basis":"ADM이 노퍽 서던 철도 서비스에 지급한 운송비","value":null,"period":"current relationship confirmed in 2023","basis_en":"Transportation expense paid by ADM for Norfolk Southern rail service","qualifier":"confirmed_no_disclosed_value"},"note":"노퍽 서던은 일리노이주 디케이터 터미널이 ADM 같은 주요 농업 고객에게 철도 물류를 제공한다고 밝혔다. ADM의 운송비 가운데 노퍽 서던별 지급액은 공개되지 않았다.","note_en":"Norfolk Southern says its Decatur, Illinois terminal provides rail service to major agricultural customers including ADM. ADM does not disclose its transportation payments to Norfolk Southern.","sources":[{"stance":"confirms","publisher":"노퍽 서던","publisher_en":"Norfolk Southern","kind":"ir","lang":"en","published_at":"2023-09-12","url":"https://www.norfolksouthern.com/en/newsroom/story-archive/2023/our-engineering-team-in-action-40-hours-in-decatur","title":"디케이터에서 진행한 40시간의 엔지니어링 작업","title_en":"Our Engineering Team in Action: 40 Hours in Decatur","excerpt":"3.6마일 길이의 시설은 ADM 같은 주요 농업 고객에게 서비스를 제공한다.","excerpt_en":"The 3.6-mile-long facility serves major agricultural customers such as Archer Daniels Midland (ADM)"}]}]}