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Adecoagro S.A.

AGRO Consumer Defensive Farm Products

Adecoagro S.A.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, down 6.00% from fiscal 2024.

Revenue
+39.0%
EPS
+172.2%
Free cash flow
−5.56%
Total debt
+123.0%

Quarter to June 2026, against a year earlier

9.03 0.06 −0.66%
Market cap
$1.3B
P/E
27.7×
Fwd P/E
2.6×
Dividend yield
0.00%
F-score
3/9
Altman Z
0.70
Beneish M
−2.05
Dividend safety
32/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.56
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 7 — — — — — — —
Insider Ownership 78.62%

Capital & Financial Ratios $m

Size
Market Cap 1,310.00
Revenue ttm 1,649.84
Net income ttm 60.64
Free cash flow ttm 60.08
Net debt Q 1,686.81
Valuation
P/E 27.67
Forward P/E 2.58
Price / sales 0.81
Forward P/S Powerpack
Price / FCF 22.14
Price / book 0.71
Financial health
Current ratio Q 1.73 (at or above 1.5: strong)
Debt / equity Q 1.07
Interest coverage Q 1.54
Growth
Revenue growth Q +38.98% (above 0%: growing)
Operating income growth Q +1,514.64% (above 0%: growing)
EPS, this year +953.93% (at or above 15%: strong)
EPS, next year A −14.61% (below 0%: weak)
Revenue, next year A +46.21% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A −13.68% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.8×, against a ten-year median of 1.7×; over the ten years it ranged from 1.0× in 2024 to 3.8× in 2016.
P/E against its own 10 years 57.48%
10-year low 10-year high
P/S against its own 10 years 35.13%
10-year low 10-year high
P/B against its own 10 years 20.72%
10-year low 10-year high
EV/Sales against its own 10 years 66.08%
10-year low 10-year high
EV/FCF against its own 10 years 74.48%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
0.00%
Growth, 2022–24
−27.2%/yr
  1. 0.32 ’22
  2. 0.33 ’23 +3
  3. 0.17 ’24 −49
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 416 261 474 331
Receivables 179 213 364 372
Inventory 460 540 581 658
Other — — — —
1,056 1,015 1,419 1,361
2023 2024 2025 Q'26
Payables 191 207 673 198
ST’ Debt 207 100 213 440
Other 38 36 48 52
494 400 1,027 788

Compound Annual Growth %

10y 5y 3y
Sales 7.79% 11.79% 1.94%
Cash Flow 7.83% 3.71% (5.88%)
Earnings 0.00% 0.00% 0.00%
Book Value 13.01% 13.21% 15.49%

Earnings Trends EPS, adjusted, against the consensus

Sep 2019 Estimate −0.01 Actual 0.26

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2018 0.22 −0.15 Miss by 0.37
Mar 2019 0.11 0.17 Beat by 0.06
Jun 2019 0.08 0.04 Miss by 0.04
Sep 2019 −0.01 0.26 Beat by 0.27

EPS $

Mar Jun Sep Dec Year
’26 0.28 0.13 — — —
’25 0.18 (0.18) 0.07 (0.15) (0.08)
’24 0.45 0.09 0.19 0.16 0.90
’23 0.20 0.43 0.71 0.77 2.11
’22 0.57 0.17 0.21 0.03 0.98
’21 0.16 0.14 0.32 0.53 1.13
’20 (0.47) (0.10) 0.17 0.41 0.00
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 399 531 — — —
’25 326 382 304 416 1,428
’24 262 411 471 374 1,519
’23 246 403 386 264 1,299
’22 206 384 386 372 1,348
’21 175 290 326 334 1,124
’20 156 182 237 243 818
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) 125 — — —
’25 (19) 130 28 170 309
’24 (39) 155 49 163 328
’23 (53) 92 218 178 435
’22 (23) 71 88 234 370
’21 (23) 99 138 134 349
’20 49 19 71 117 257
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (90) 72 — — —
’25 (104) 76 (20) 98 50
’24 (133) 114 3 107 91
’23 (132) 36 218 108 229
’22 (101) 25 45 184 152
’21 (82) 64 70 95 147
’20 (18) 0 44 75 100
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 869 933 793 887 818 1,124 1,348 1,299 1,519 1,428 1,650 +5.7% — — — —
Gross margin, % 35.69 25.56 25.03 32.28 41.03 43.07 34.55 31.98 28.63 24.60 30.06 (11.1) pt
EBT 13 10 (24) 21 13 175 135 305 35 (7) 100 n/m
EBT margin, % 1.51 1.07 (3.06) 2.39 1.64 15.52 10.04 23.51 2.31 (0.49) 6.05 (2.0) pt
Net income 4 15 (23) 0 1 131 109 227 92 (7) 61 n/m
Per share, $
Per share, $ Revenue 7.16 7.74 6.80 7.57 6.96 9.76 12.24 12.13 14.80 13.98 11.33 +7.7%
Earnings 0.02 0.12 (0.21) (0.01) 0.00 1.14 0.98 2.11 0.90 (0.08) 0.33 n/m
Cash flow 2.10 1.97 1.87 2.75 2.19 3.03 3.36 4.06 3.20 3.02 2.20 +4.1%
Capex (1.10) (1.65) (1.57) (2.20) (1.34) (1.75) (1.98) (1.92) (2.32) (2.53) (1.78) +9.7%
Free cash flow 1.01 0.31 0.31 0.55 0.85 1.27 1.38 2.14 0.88 0.49 0.41 (7.7%)
Book value 5.53 5.66 9.50 8.78 8.21 9.10 10.57 11.82 13.72 17.56 12.90 +13.7%
Shares, m 121 121 117 117 117 115 110 107 103 102 123 (1.9%)
Valuation, ×
Valuation, × P/E 1,095.00 129.25 0.00 0.00 680.00 6.68 7.63 5.14 10.60 0.00 27.67 193.4
P/S 1.53 1.34 1.02 1.11 0.98 0.79 0.62 0.90 0.64 0.57 0.81 0.9
P/B 1.98 1.83 0.73 0.95 0.83 0.84 0.71 0.92 0.69 0.45 0.71 1.0
EV/Sales 2.07 1.92 1.76 1.87 1.75 1.34 1.12 1.27 0.98 1.35 1.83 1.5
EV/FCF 14.74 47.72 39.07 25.67 14.39 10.23 9.90 7.23 16.40 38.43 50.21 22.4
Cash, $m
Cash, $m Operating cash flow 255 237 219 322 257 349 370 435 328 309 320 +2.1%
Capex (133) (200) (183) (258) (157) (202) (218) (206) (238) (258) (260) +7.6%
Free cash flow 122 38 36 65 100 147 152 229 91 50 60 (9.4%)
Balance, $m
Balance, $m Working capital 236 407 383 285 407 404 412 562 615 393 574 +5.8%
Net debt 473 544 582 677 635 617 678 489 518 1,119 1,687 +10.0%
Shareholders’ equity 672 683 1,108 1,029 964 1,048 1,164 1,266 1,408 1,792 1,879 +11.5%
Returns, %
Returns, % ROA 0.15 0.85 (1.26) (0.03) 0.02 5.16 3.80 7.21 2.94 (0.20) 1.16 (0.4) pt
ROIC 9.31 6.60 5.79 4.45 7.39 10.44 8.48 8.61 5.92 2.02 3.50 (7.3) pt
ROE 0.34 1.95 (2.75) (0.07) 0.04 12.99 9.78 18.63 6.91 (0.52) 3.01 (0.9) pt
People
People Employees 8,326 7,790 7,743 8,237 8,716 9,104 9,776 9,762 10,320 10,283 — +2.4%
Revenue/emp, $m 0.10 0.12 0.10 0.11 0.09 0.12 0.14 0.13 0.15 0.14 — +3.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Adecoagro S.A. vs peers in Farm Products (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CALM Cal-Maine Foods, Inc. $3.1B 55.2× — (loss-making) −41.51% (below 0%: shrinking) n/m −154.84% (below 0%: shrinking) 0.07% (15.23%) Compare
AGRO Adecoagro S.A. $1.3B 27.7× 2.6× +38.98% (above 0%: growing) n/m −5.56% (below 0%: shrinking) 32.92% 17.32%
DOLE Dole PLC $1.3B 22.2× 10.9× +2.92% (above 0%: growing) +170.00% (above 0%: growing) −218.11% (below 0%: shrinking) 7.81% 1.90% Compare
DMC Del Monte Corporation $1.3B 16.0× 17.5× +7.18% (above 0%: growing) n/m −194.80% (below 0%: shrinking) 9.37% 2.66% Compare
VITL Vital Farms, Inc. $408.8M — (loss-making) — (loss-making) −8.43% (below 0%: shrinking) n/m −123.64% (below 0%: shrinking) 23.13% (4.22%) Compare
VFF Village Farms International, Inc. $341.2M 14.7× 13.4× +6.81% (above 0%: growing) −75.00% (below 0%: shrinking) −87.98% (below 0%: shrinking) 46.85% 17.45% Compare
AFRI Forafric Global PLC $333.0M — (loss-making) — — n/m −1,812.63% (below 0%: shrinking) 9.61% 0.00% Compare
LND Brasilagro Cia Brasileira De Propriedades Agricolas $319.8M — (loss-making) 8.9× −54.25% (below 0%: shrinking) n/m +79.33% (above 0%: growing) 19.54% (7.79%) Compare
ALCO Alico, Inc. $276.1M 169× — (loss-making) +7.75% (above 0%: growing) n/m −78.92% (below 0%: shrinking) 44.76% 20.86% Compare
Median of peers $375.0M 22.2× 12.2× +2.92% — −139.24% 14.58% 0.95%

All 22 Farm Products stocks →

Adecoagro S.A. (AGRO) Latest News

8 Oct

Impact 4 · · Simply Wall St.

4 Oct

Impact 3 · · Simply Wall St.

28 Sep

Impact 3 · · PR Newswire

19 Sep

Impact 3 ·

9 Sep

Impact 4 ·

1 Sep

Impact 5 · · beincrypto.com
Impact 4 ·

13 Aug

Impact 4 ·
Impact 4 ·

12 Aug

Impact 3 · · MarketBeat transcript

11 Aug

Impact 4 ·

20 Jul

Impact 4 ·

3 Jun

Impact 4 · · 99bitcoins.com

22 May

Impact 3 · · Insider Monkey

18 May

Impact 3 ·

13 May

Impact 4 · · GuruFocus.com
Impact 4 · · Simply Wall St.

12 May

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript

11 May

Impact 4 · · PR Newswire

26 Apr

Impact 4 · · Simply Wall St.

23 Apr

Impact 3 · · PR Newswire

17 Apr

Impact 3 · · Insider Monkey

29 Mar

Impact 3 · · Simply Wall St.

23 Mar

Impact 4 · · GuruFocus.com

22 Mar

Impact 4 · · Simply Wall St.

19 Mar

Impact 4 · · Zacks

17 Mar

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript

16 Mar

Impact 4 · · Associated Press Finance
stockrow.com/AGRO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com