| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 39 | 179.4x | 17.8x | Bottom tier | |
Growth | 54 | 6.2% | 7.1% | Around median | |
Quality | 31 | — | 4.5% | Bottom tier | |
Safety | 40 | 3.6x | 2.6x | Bottom tier | |
Capital Return | 15 | — | 2.12% | Bottom tier | |
Momentum | 73 | 11.0% | 2.9% | Top tier | |
Sentiment | 64 | 3 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Adecoagro operates a diversified agro-industrial platform across three main businesses: Fertilizers, Sugar, Ethanol and Energy, and Farming and Land Transformation. The Fertilizers business comes from Profertil and urea production, while the Brazil operations benefit from the flexibility to convert sugarcane into ethanol or sugar according to marginal returns, and the Farming and Land Transformation activities include crops, raw milk production and processing, and dairy products. This diversification allows weakness in some commodities to be offset by stronger performance in others, as occurred in fiscal Q2 2026, when growth in Fertilizers offset weaker results in Sugar, Ethanol and Energy and Farming and Land Transformation.
In fiscal Q2 2026, reported pro forma total sales reached $535 million, while sales in the first half of fiscal 2026 reached $928 million, remaining broadly stable year over year due to differing prices and volumes across the businesses. Adjusted EBITDA reached a record $173 million in the quarter and $258 million in the first half, with Fertilizers as the main driver due to higher production, stronger urea prices, and operating efficiency. In contrast, Sugar, Ethanol and Energy generated $53 million of adjusted EBITDA in the quarter and $94 million in the first half, but declined year over year because of lower sales and Consecana prices.
The latest available EDGAR statements for fiscal Q3 2025 show revenue of $304.2 million, gross profit of $106.8 million, net income of $6.4 million, and earnings per share of $0.065. These figures equate to a gross margin of approximately 35.1% and a net income margin of approximately 2.1%. For fiscal 2024, revenue reached $1.5 billion, gross profit was $434.8 million, and net income was $92.1 million, compared with revenue of $1.3 billion and net income of $226.7 million in fiscal 2023, showing that revenue growth did not translate into comparable net income growth.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus on AGRO is neutral, with an average price target of $13.2 and identical high and low targets of $13.2, so the consensus provides no dispersion to help assess the range of scenarios. This target is approximately 17% below the 52-week high of $15.89 and above the range low of $6.89, while no price-to-earnings ratio is available to serve as an additional anchor. The neutral stance reflects a combination of record operating earnings led by Profertil, pro forma net leverage of 3 times, weak Sugar, Ethanol and Energy results, and the decline in fiscal 2024 net income compared with fiscal 2023.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Fertilizers was the most important driver, as urea production increased 22% year over year and the plant recorded no downtime during fiscal Q2 2026. First-half urea production reached 617 thousand tons, and sales benefited from the international price reaching approximately $800 per ton during the quarter. As a result, the business's adjusted EBITDA more than doubled in the quarter and on a year-to-date basis, helping lift the consolidated figure to $173 million in the quarter and $258 million in the first half.
As of August 12, 2026, the Carapo Mill transaction remained subject to customary closing conditions, so it was not included in the reported capital expenditure figures for fiscal Q2 2026. Management estimated that between 500 thousand and 1 million tons of cane could be redirected from Adecoagro's cluster to Carapo over the following two or three years. The company sees the potential to increase crushing at the mill to between 6 million and 7 million tons, with opportunities to improve industrial efficiency by more than two percentage points and leverage the existing tanks, warehouses, and general and administrative expense structure.
Domestic ethanol prices declined in June and July 2026 because of increased supply from the sugarcane harvest and corn ethanol production, so the company chose to reduce sales and wait for better prices. Adecoagro ended fiscal Q2 2026 holding approximately 41% of its first-half ethanol production in inventory. By the beginning of August 2026, management had observed an approximately 5% price increase compared with July, but it linked the improvement in Q4 and Q1 to lower supply and higher demand, making the timing of sales an important risk-and-return factor.
Adecoagro paid approximately $400 million as the final installment for the Profertil acquisition during the first half of fiscal 2026, and pro forma net leverage reached 3 times in Q2. Management explained that net debt is seasonally affected by working capital requirements, in addition to a $58 million increase in readily marketable inventories during the quarter. In contrast, the liquidity ratio improved to 1.9 times from 1.2 times in the previous quarter, and most debt is long term and its currency composition is aligned with revenue sources.
By the end of July 2026, the company had harvested 92% of the planted area and produced more than 1.1 million tons of crops at yields above the previous season. Milk processing volumes increased because of higher raw milk production and improved cow productivity at the free-stall facilities, and the company also invested in a new cheese-packaging line at the Morteros facility. Management expects margins to improve during the following quarters as the new crop is sold and cost reductions take effect, but it does not expect a significant increase in planted area for the 2027 season because of its focus on land that generates the required return.
In fiscal Q3 2025, Adecoagro recorded revenue of $304.2 million, gross profit of $106.8 million, and net income of $6.4 million, with a calculated gross margin of approximately 35.1%. In fiscal 2024, revenue reached $1.5 billion and net income was $92.1 million, compared with revenue of $1.3 billion and net income of $226.7 million in fiscal 2023. For fiscal Q2 2026, the key metrics to monitor are pro forma total sales of $535 million, adjusted EBITDA of $173 million, and net leverage of 3 times.
