Adecoagro S.A. (AGRO) vs Bunge Global SA (BG)

Adecoagro S.A. and Bunge Global SA are both Farm Products companies. Bunge Global SA is the larger, with a market value of $20.6B against $1.5B — 14.2× the size. Bunge Global SA trades at the lower P/E: 20.6× against 30.4×. Bunge Global SA grew revenue faster over the last twelve months: 80.5% against 6.22%. Adecoagro S.A. has the higher net margin (3.00% vs 1.10%) and the lower return on invested capital (3.50% vs 4.63%). Only Bunge Global SA pays a dividend (4.03%). Across the 22 metrics below, Adecoagro S.A. leads on 11 and Bunge Global SA on 11.

Valuation

Metric AGRO BG Farm Products median
P/E 30.39 20.61 22.63
P/S 0.89 0.22 0.48
P/B 0.78 1.19 1.11
Price to free cash flow 24.32 n/m 16.04
EV/EBITDA 5.96 10.57 10.06
EV/Sales 1.91 0.38 0.61
Earnings yield 3.29% 4.85% 0.59%
Free cash flow yield 4.11% (5.69%) (5.27%)

Profitability

Metric AGRO BG Farm Products median
Gross margin 30.06% 4.92% 6.87%
Operating margin 12.09% 2.57% 0.11%
Net margin 3.00% 1.10% 0.63%
Free cash flow margin 3.64% (1.27%) 0.00%
Return on equity 3.01% 6.89% 1.52%
Return on assets 1.16% 2.58% 0.02%
Return on invested capital 3.50% 4.63% 0.00%

Growth

Metric AGRO BG Farm Products median
Revenue growth (TTM) 6.22% 80.53% 7.27%
EPS growth (last fiscal year) (108.93%) (38.55%) (38.73%)
Revenue growth, 5-year CAGR 11.79% 11.18% 8.40%
Net income growth, 5-year CAGR 0.00% (6.15%) 0.00%

Health

Metric AGRO BG Farm Products median
Debt to equity 1.07 0.88 0.24
Current ratio 1.73 1.57 1.43
Net debt to EBITDA 3.06 5.55 (0.04)

Dividend

Metric AGRO BG Farm Products median
Dividend yield 0.00% 4.03% 3.86%
Payout ratio 0.00 0.83 0.91

Size

Metric AGRO BG Farm Products median
Market cap 1.45b 20.56b 299.85m

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