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ADECOAGRO SA (AGRO) Stock Fundamental Analysis

NYSE:AGRO - New York Stock Exchange, Inc. - LU0584671464 - Common Stock - Currency: USD

8.82  -0.36 (-3.92%)

After market: 8.83 +0.01 (+0.11%)

Fundamental Rating

4

Overall AGRO gets a fundamental rating of 4 out of 10. We evaluated AGRO against 90 industry peers in the Food Products industry. Both the profitability and the financial health of AGRO get a neutral evaluation. Nothing too spectacular is happening here. AGRO is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year AGRO was profitable.
In the past year AGRO had a positive cash flow from operations.
Each year in the past 5 years AGRO has been profitable.
Each year in the past 5 years AGRO had a positive operating cash flow.
AGRO Yearly Net Income VS EBIT VS OCF VS FCFAGRO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M

1.2 Ratios

With a decent Return On Assets value of 4.91%, AGRO is doing good in the industry, outperforming 64.04% of the companies in the same industry.
Looking at the Return On Equity, with a value of 11.35%, AGRO is in the better half of the industry, outperforming 67.42% of the companies in the same industry.
AGRO has a Return On Invested Capital (1.96%) which is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for AGRO is significantly below the industry average of 8.94%.
Industry RankSector Rank
ROA 4.91%
ROE 11.35%
ROIC 1.96%
ROA(3y)4.53%
ROA(5y)3.73%
ROE(3y)11.59%
ROE(5y)9.54%
ROIC(3y)2.02%
ROIC(5y)2.16%
AGRO Yearly ROA, ROE, ROICAGRO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15

1.3 Margins

AGRO has a Profit Margin of 11.39%. This is amongst the best in the industry. AGRO outperforms 87.64% of its industry peers.
AGRO's Profit Margin has declined in the last couple of years.
AGRO's Operating Margin of 5.30% is fine compared to the rest of the industry. AGRO outperforms 60.67% of its industry peers.
AGRO's Operating Margin has declined in the last couple of years.
The Gross Margin of AGRO (20.63%) is comparable to the rest of the industry.
In the last couple of years the Gross Margin of AGRO has declined.
Industry RankSector Rank
OM 5.3%
PM (TTM) 11.39%
GM 20.63%
OM growth 3Y-13.04%
OM growth 5Y-6.66%
PM growth 3Y-19.23%
PM growth 5YN/A
GM growth 3Y-5.34%
GM growth 5Y-4.39%
AGRO Yearly Profit, Operating, Gross MarginsAGRO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15 20 25

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4

2. Health

2.1 Basic Checks

AGRO has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, AGRO has less shares outstanding
Compared to 5 years ago, AGRO has less shares outstanding
The debt/assets ratio for AGRO has been reduced compared to a year ago.
AGRO Yearly Shares OutstandingAGRO Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
AGRO Yearly Total Debt VS Total AssetsAGRO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

Based on the Altman-Z score of 1.33, we must say that AGRO is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 1.33, AGRO is not doing good in the industry: 62.92% of the companies in the same industry are doing better.
AGRO has a debt to FCF ratio of 15.07. This is a negative value and a sign of low solvency as AGRO would need 15.07 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 15.07, AGRO is in line with its industry, outperforming 47.19% of the companies in the same industry.
AGRO has a Debt/Equity ratio of 0.71. This is a neutral value indicating AGRO is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.71, AGRO is not doing good in the industry: 61.80% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.71
Debt/FCF 15.07
Altman-Z 1.33
ROIC/WACC0.47
WACC4.14%
AGRO Yearly LT Debt VS Equity VS FCFAGRO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.3 Liquidity

A Current Ratio of 2.40 indicates that AGRO has no problem at all paying its short term obligations.
With a decent Current ratio value of 2.40, AGRO is doing good in the industry, outperforming 70.79% of the companies in the same industry.
AGRO has a Quick Ratio of 1.09. This is a normal value and indicates that AGRO is financially healthy and should not expect problems in meeting its short term obligations.
With a decent Quick ratio value of 1.09, AGRO is doing good in the industry, outperforming 67.42% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.4
Quick Ratio 1.09
AGRO Yearly Current Assets VS Current LiabilitesAGRO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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3

3. Growth

3.1 Past

The earnings per share for AGRO have decreased strongly by -57.51% in the last year.
AGRO shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 14.59%.
AGRO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.42% yearly.
EPS 1Y (TTM)-57.51%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%406.67%
Revenue 1Y (TTM)14.59%
Revenue growth 3Y16.4%
Revenue growth 5Y10.42%
Sales Q2Q%41.78%

3.2 Future

Based on estimates for the next years, AGRO will show a decrease in Earnings Per Share. The EPS will decrease by -5.25% on average per year.
Based on estimates for the next years, AGRO will show a small growth in Revenue. The Revenue will grow by 3.25% on average per year.
EPS Next Y-12.94%
EPS Next 2Y-12.88%
EPS Next 3Y-5.25%
EPS Next 5YN/A
Revenue Next Year13.64%
Revenue Next 2Y4.51%
Revenue Next 3Y3.25%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
AGRO Yearly Revenue VS EstimatesAGRO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 500M 1B 1.5B
AGRO Yearly EPS VS EstimatesAGRO Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0.5 -0.5 1

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6

4. Valuation

4.1 Price/Earnings Ratio

AGRO is valuated cheaply with a Price/Earnings ratio of 6.89.
AGRO's Price/Earnings ratio is rather cheap when compared to the industry. AGRO is cheaper than 92.13% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 28.18. AGRO is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 9.08, the valuation of AGRO can be described as very reasonable.
Based on the Price/Forward Earnings ratio, AGRO is valued cheaply inside the industry as 98.88% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.81, AGRO is valued rather cheaply.
Industry RankSector Rank
PE 6.89
Fwd PE 9.08
AGRO Price Earnings VS Forward Price EarningsAGRO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, AGRO is valued cheaply inside the industry as 87.64% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, AGRO is valued a bit cheaper than the industry average as 79.78% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 10.95
EV/EBITDA 4.76
AGRO Per share dataAGRO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

AGRO's earnings are expected to decrease with -5.25% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-12.88%
EPS Next 3Y-5.25%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.73%, AGRO has a reasonable but not impressive dividend return.
AGRO's Dividend Yield is a higher than the industry average which is at 4.44.
Compared to an average S&P500 Dividend Yield of 2.45, AGRO pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.73%

5.2 History

AGRO has paid a dividend for less than 5 years, so there is no long track record yet.
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years2
AGRO Yearly Dividends per shareAGRO Yearly Dividends per shareYearly Dividends per share 2022 2023 2024 2025 0.1 0.2 0.3

5.3 Sustainability

AGRO pays out 22.08% of its income as dividend. This is a sustainable payout ratio.
DP22.08%
EPS Next 2Y-12.88%
EPS Next 3Y-5.25%
AGRO Yearly Income VS Free CF VS DividendAGRO Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M 200M
AGRO Dividend Payout.AGRO Dividend Payout, showing the Payout Ratio.AGRO Dividend Payout.PayoutRetained Earnings

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ADECOAGRO SA

NYSE:AGRO (5/2/2025, 8:04:00 PM)

After market: 8.83 +0.01 (+0.11%)

8.82

-0.36 (-3.92%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)03-13 2025-03-13/amc
Earnings (Next)05-12 2025-05-12
Inst Owners48.2%
Inst Owner Change0.05%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap881.91M
Analysts51.67
Price Target13.18 (49.43%)
Short Float %0.38%
Short Ratio0.25
Dividend
Industry RankSector Rank
Dividend Yield 3.73%
Yearly Dividend0.34
Dividend Growth(5Y)N/A
DP22.08%
Div Incr Years2
Div Non Decr Years2
Ex-Date05-02 2025-05-02 (0.175)
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.46%
PT rev (3m)-3.3%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-6.16%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-9.01%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.98%
Valuation
Industry RankSector Rank
PE 6.89
Fwd PE 9.08
P/S 0.63
P/FCF 10.95
P/OCF 2.57
P/B 0.63
P/tB 0.65
EV/EBITDA 4.76
EPS(TTM)1.28
EY14.51%
EPS(NY)0.97
Fwd EY11.02%
FCF(TTM)0.81
FCFY9.13%
OCF(TTM)3.43
OCFY38.84%
SpS13.92
BVpS13.97
TBVpS13.58
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 4.91%
ROE 11.35%
ROCE 2.65%
ROIC 1.96%
ROICexc 2.11%
ROICexgc 2.15%
OM 5.3%
PM (TTM) 11.39%
GM 20.63%
FCFM 5.79%
ROA(3y)4.53%
ROA(5y)3.73%
ROE(3y)11.59%
ROE(5y)9.54%
ROIC(3y)2.02%
ROIC(5y)2.16%
ROICexc(3y)2.31%
ROICexc(5y)2.53%
ROICexgc(3y)2.34%
ROICexgc(5y)2.56%
ROCE(3y)2.73%
ROCE(5y)2.93%
ROICexcg growth 3Y-15.9%
ROICexcg growth 5Y-4.05%
ROICexc growth 3Y-15.81%
ROICexc growth 5Y-3.96%
OM growth 3Y-13.04%
OM growth 5Y-6.66%
PM growth 3Y-19.23%
PM growth 5YN/A
GM growth 3Y-5.34%
GM growth 5Y-4.39%
F-Score7
Asset Turnover0.43
Health
Industry RankSector Rank
Debt/Equity 0.71
Debt/FCF 15.07
Debt/EBITDA 2.7
Cap/Depr 89.17%
Cap/Sales 18.83%
Interest Coverage 1.77
Cash Conversion 93.2%
Profit Quality 50.8%
Current Ratio 2.4
Quick Ratio 1.09
Altman-Z 1.33
F-Score7
WACC4.14%
ROIC/WACC0.47
Cap/Depr(3y)88.64%
Cap/Depr(5y)92.09%
Cap/Sales(3y)17.92%
Cap/Sales(5y)18.87%
Profit Quality(3y)94.78%
Profit Quality(5y)4082.63%
High Growth Momentum
Growth
EPS 1Y (TTM)-57.51%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%406.67%
EPS Next Y-12.94%
EPS Next 2Y-12.88%
EPS Next 3Y-5.25%
EPS Next 5YN/A
Revenue 1Y (TTM)14.59%
Revenue growth 3Y16.4%
Revenue growth 5Y10.42%
Sales Q2Q%41.78%
Revenue Next Year13.64%
Revenue Next 2Y4.51%
Revenue Next 3Y3.25%
Revenue Next 5YN/A
EBIT growth 1Y-32.57%
EBIT growth 3Y-4.1%
EBIT growth 5Y3.51%
EBIT Next Year83.02%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-68.74%
FCF growth 3Y-21.76%
FCF growth 5Y2.99%
OCF growth 1Y-30.23%
OCF growth 3Y-1.99%
OCF growth 5Y0.38%