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South American agribusiness growing sugarcane, crops and dairy, and producing ethanol and energy across Argentina, Brazil and Uruguay.
South American agribusiness growing sugarcane, crops and dairy, and producing ethanol and energy across Argentina, Brazil and Uruguay.
Sells commodities at market prices, with sugar and ethanol made at its own Brazilian mills and crops grown on farms in Argentina, Brazil and Uruguay, so income follows global commodity prices and harvest yields. It also buys and sells farmland, adding land-sale gains from time to time.
Moat: narrow (scale, distribution). Large-scale, vertically integrated land and processing base across three countries.
Headquarters: Luxembourg / Buenos Aires, Argentina · Founded: 2002 · Employees: 10,283
Size Adecoagro (AGRO) is a United States Consumer Staples company (Agricultural Commodities/Milling) with a market value of $1.30B, the 2081st largest of 3,117 United States companies the cockpit tracks. Shares closed at $9.00 on 6 Nov 2026.
Performance Over six months the shares fell 31.4%, against -11.8% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue grew 7.2% over the last twelve months (peer median +1.4%); the operating margin is 1.9% (peer median 4.1%).
Valuation It trades at 5.3× forward earnings against a peer median of 16.4× (cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 38% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +25 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.2 points below its cost of capital (5.8% WACC).
Credit Adecoagro has 1 bond outstanding ($500M), rated BB- by the agencies and trading like B- at a weighted spread of 399 bp.
Short interest Short interest is 0.9% of the free float (15 Oct 2026).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.60B | $1.37B | $1.45B | $1.23B | $1.26B |
| Revenue growth | — | -5% | +18% | -3% | — |
| Gross profit | $303M | $156M | $196M | $371M | $140M |
| EBITDA | $286M | $113M | $205M | $366M | $107M |
| Net income | $49.5M | -$8.35M | $92.3M | $226M | $108M |
| Free cash flow | $18.1M | $24.4M | $49.4M | $199M | $104M |
| Capital expenditure | $238M | $266M | $263M | $243M | $230M |
| Total debt | $2.33B | $1.95B | $1.12B | $1.28B | $1.35B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Adecoagro AGRO | $1.30B | -31% | +7% | 2% | 5.3× | 37.5% |
| Bunge Global BG | $19.0B | -20% | +55% | 4% | 9.2× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AGRO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.0% | -3.7% | 3rd lowest of 21 |
| 6-month return | -31.4% | -11.8% | 2nd lowest of 20 |
| Distance from 52-week high | -43.4% | -24.6% | 4th lowest of 21 |
| Revenue growth (TTM) | +7.2% | +1.4% | 7th highest of 21 |
| Operating margin | 1.9% | 4.1% | 7th lowest of 21 |
| Forward P/E | 5.3× | 16.4× | cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 37.5% | 8.0% | most demanding of 10 |
| Growth delivered (Del g) | +12.1% | +11.1% | 5th highest of 10 |
| Hurdle (Req g minus delivered) | +25.4 pp | +4.8 pp | most demanding of 10 |
| ROIC minus cost of capital | -5.2 pp | -3.3 pp | 7th lowest of 21 |
| EV / EBITDA | 12.0× | 12.8× | 6th cheapest of 11 |
| Net debt / EBITDA | 7.0× | 1.4× | most indebted of 11 |
| Bond spread | 399 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Adecoagro AGRO | United States | $1.30B | -31% | +7% | 2% | 5.3× | 37.5% | +12.1% |
| Del Monte DMC | United States | $1.29B | -27% | +1% | 4% | 12.1× | n/a | n/a |
| Great Wall Enterprise 1210.TW | Taiwan | $1.28B | -4% | +2% | 4% | 12.0× | n/a | n/a |
| Beijing Shunxin Agriculture 000860.SZ | China | $1.36B | -4% | -20% | -5% | n/a | n/a | n/a |
| China Modern Dairy 1117.HK | Hong Kong | $1.37B | +3% | +5% | -15% | 12.5× | n/a | n/a |
| Godrej Agrovet GODREJAGRO.NS | India | $1.23B | +3% | +9% | 6% | 21.7× | 15.1% | +10.3% |
| M.P. Evans MPE.L | United Kingdom | $1.20B | -5% | +1% | 39% | 9.7× | -9.7% | +15.6% |
| Leshan Giantstar Farming & Husbandry 603477.SS | China | $1.19B | -19% | -2% | -15% | n/a | n/a | n/a |
| Shandong Denghai Seeds 002041.SZ | China | $1.19B | -12% | -1% | 3% | 58.9× | 23.5% | +4.2% |
| Dekon Food And Agriculture 2419.HK | Hong Kong | $1.16B | -16% | -10% | -6% | n/a | -5.0% | +22.4% |
| Kernel KER.WA | Poland | $1.47B | 0% | -1% | 5% | 5.4× | 8.0% | -5.4% |
| Balrampur Chini Mills BALRAMCHIN.NS | India | $1.50B | +28% | +11% | 9% | 19.5× | n/a | n/a |
| Shandong Yisheng Livestock & Poultry Breeding 002458.SZ | China | $1.54B | -16% | +15% | 17% | 18.2× | 6.3% | +11.1% |
| Fujian Aonong Biological Technology Group Incorporation 603363.SS | China | $1.09B | -21% | +12% | -8% | n/a | n/a | n/a |
| LT Foods LTFOODS.NS | India | $1.55B | -3% | +24% | 8% | 12.8× | 25.7% | +18.2% |
| Xinjiang Guannong 600251.SS | China | $1.09B | -27% | -32% | -4% | 9.4× | n/a | n/a |
| Liuliumei 6658.HK | Hong Kong | $1.58B | n/a | +6% | 12% | n/a | n/a | n/a |
| Shenzhen Agricultural Products 000061.SZ | China | $1.63B | -22% | -22% | 12% | 26.1× | 4.2% | +15.6% |
| Avanti Feeds AVANTIFEED.NS | India | $1.02B | -51% | +11% | 9% | 22.3× | 17.1% | +8.0% |
| Mission Produce AVO | United States | $1.02B | -11% | -6% | 4% | 16.4× | n/a | n/a |
| Juewei Food 603517.SS | China | $1.01B | -13% | -8% | 3% | 31.3× | n/a | n/a |
Adecoagro has 1 bond outstanding with $500M face value. The agencies rate it BB-; its bonds trade like B-. Weighted yield 8.67%, a spread of 399 bp over government bonds.