Três Tentos Agroindustrial S/A (BOVESPA:TTEN3) - Share price, News & Analysis

TTEN3 fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	4/6
Past Performance	2/6
Financial Health	5/6
Dividends	0/6

TTEN3 Stock Overview

Três Tentos Agroindustrial S/A operates in the agribusiness sector.

Rewards

Trading at 75.8% below our estimate of its fair value

Earnings are forecast to grow 16.41% per year

Earnings have grown 36.7% per year over the past 5 years

Risk Analysis

High level of non-cash earnings

Três Tentos Agroindustrial S/A Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Três Tentos Agroindustrial S/A
Historical stock prices
Current Share Price	R$8.10
52 Week High	R$12.95
52 Week Low	R$6.70
Beta	0
1 Month Change	-10.79%
3 Month Change	-18.43%
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-33.06%

Recent News & Updates

Feb 03

Growth Investors: Industry Analysts Just Upgraded Their Três Tentos Agroindustrial S/A (BVMF:TTEN3) Revenue Forecasts By 13%

Três Tentos Agroindustrial S/A ( BVMF:TTEN3 ) shareholders will have a reason to smile today, with the analysts making...

Dec 12

Três Tentos Agroindustrial S/A's (BVMF:TTEN3) Shares Not Telling The Full Story

With a median price-to-earnings (or "P/E") ratio of close to 11x in Brazil, you could be forgiven for feeling...

Shareholder Returns

	TTEN3	BR Food	BR Market
7D	-5.4%	-0.8%	-0.8%
1Y	n/a	-7.5%	-29.7%

Return vs Industry: Insufficient data to determine how TTEN3 performed against the BR Food industry.

Return vs Market: Insufficient data to determine how TTEN3 performed against the BR Market.

Price Volatility

Is TTEN3's price volatile compared to industry and market?
TTEN3 volatility
TTEN3 Average Weekly Movement	5.6%
Food Industry Average Movement	5.6%
Market Average Movement	5.9%
10% most volatile stocks in BR Market	9.2%
10% least volatile stocks in BR Market	2.8%

Stable Share Price: TTEN3 is not significantly more volatile than the rest of BR stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: TTEN3's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1954	1,500	Luiz Dumoncel	https://www.3tentos.com.br

Três Tentos Agroindustrial S/A operates in the agribusiness sector. It offers seeds, fertilizers, pesticides, and crop protection products. The company also offers soybean meals for animal feed; and produces biodiesel from soybeans, as well as provides grains.

Três Tentos Agroindustrial S/A Fundamentals Summary

How do Três Tentos Agroindustrial S/A's earnings and revenue compare to its market cap?
TTEN3 fundamental statistics
Market Cap	R$4.02b
Earnings (TTM)	R$436.05m
Revenue (TTM)	R$5.84b

9.2x

P/E Ratio

0.7x

P/S Ratio

Is TTEN3 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
TTEN3 income statement (TTM)
Revenue	R$5.84b
Cost of Revenue	R$5.09b
Gross Profit	R$752.00m
Other Expenses	R$315.95m
Earnings	R$436.05m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.88
Gross Margin	12.87%
Net Profit Margin	7.46%
Debt/Equity Ratio	55.7%

How did TTEN3 perform over the long term?

See historical performance and comparison

Dividends

0.2%

Current Dividend Yield

n/a

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is TTEN3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TTEN3?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for TTEN3. This is calculated by dividing TTEN3's market cap by their current preferred multiple.
What is TTEN3's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	R$4.02b

TTEN3 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.7x
Enterprise Value/EBITDA	10.7x
PEG Ratio	0.6x

Price to Earnings Ratio vs Peers

How does TTEN3's PE Ratio compare to its peers?

TTEN3 PE Ratio vs Peers

The above table shows the PE ratio for TTEN3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	7.3x

Forward PE

Price-To-Earnings vs Peers: TTEN3 is expensive based on its Price-To-Earnings Ratio (9.2x) compared to the peer average (7.3x).

Price to Earnings Ratio vs Industry

How does TTEN3's PE Ratio compare vs other companies in the Food Industry?

Price-To-Earnings vs Industry: TTEN3 is expensive based on its Price-To-Earnings Ratio (9.2x) compared to the BR Food industry average (8.3x)

Price to Earnings Ratio vs Fair Ratio

What is TTEN3's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TTEN3 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	9.2x
Fair PE Ratio	11.9x

Price-To-Earnings vs Fair Ratio: TTEN3 is good value based on its Price-To-Earnings Ratio (9.2x) compared to the estimated Fair Price-To-Earnings Ratio (11.9x).

Share Price vs Fair Value

What is the Fair Price of TTEN3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TTEN3 (R$8.1) is trading below our estimate of fair value (R$33.4)

Significantly Below Fair Value: TTEN3 is trading below fair value by more than 20%.

Price to Earnings Growth Ratio

PEG Ratio: TTEN3 is good value based on its PEG Ratio (0.6x)

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Future Growth

How is Três Tentos Agroindustrial S/A forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

16.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TTEN3's forecast earnings growth (16.4% per year) is above the savings rate (9.1%).

Earnings vs Market: TTEN3's earnings (16.4% per year) are forecast to grow faster than the BR market (7% per year).

High Growth Earnings: TTEN3's earnings are forecast to grow, but not significantly.

Revenue vs Market: TTEN3's revenue (15.9% per year) is forecast to grow faster than the BR market (5.7% per year).

High Growth Revenue: TTEN3's revenue (15.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: TTEN3's Return on Equity is forecast to be high in 3 years time (23.2%)

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Past Performance

How has Três Tentos Agroindustrial S/A performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

36.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TTEN3 has a high level of non-cash earnings.

Growing Profit Margin: TTEN3's current net profit margins (7.5%) are lower than last year (8.6%).

Past Earnings Growth Analysis

Earnings Trend: TTEN3's earnings have grown significantly by 36.7% per year over the past 5 years.

Accelerating Growth: TTEN3's earnings growth over the past year (48.2%) exceeds its 5-year average (36.7% per year).

Earnings vs Industry: TTEN3 earnings growth over the past year (48.2%) underperformed the Food industry 54%.

Return on Equity

High ROE: TTEN3's Return on Equity (18.9%) is considered low.

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Financial Health

How is Três Tentos Agroindustrial S/A's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: TTEN3's short term assets (R$3.8B) exceed its short term liabilities (R$2.0B).

Long Term Liabilities: TTEN3's short term assets (R$3.8B) exceed its long term liabilities (R$728.3M).

Debt to Equity History and Analysis

Debt Level: TTEN3 has more cash than its total debt.

Reducing Debt: TTEN3's debt to equity ratio has reduced from 225% to 55.7% over the past 5 years.

Debt Coverage: TTEN3's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: TTEN3 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is Três Tentos Agroindustrial S/A current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

0.19%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TTEN3's dividend (0.19%) isn’t notable compared to the bottom 25% of dividend payers in the BR market (1.72%).

High Dividend: TTEN3's dividend (0.19%) is low compared to the top 25% of dividend payers in the BR market (7.73%).

Stability and Growth of Payments

Stable Dividend: TTEN3 is not paying a notable dividend for the BR market, therefore no need to check if payments are stable.

Growing Dividend: TTEN3 is not paying a notable dividend for the BR market, therefore no need to check if payments are increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: TTEN3 is paying a dividend but the company has no free cash flows.

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Management

How experienced are the management team and are they aligned to shareholders interests?

CEO

Luiz Dumoncel

no data

Tenure

Mr. Luiz Osorio Dumoncel is the Founder, Vice Chairman, Member of Executive Board and Chief Executive Officer of Três Tentos Agroindustrial S/A.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: TTEN3 only recently listed within the past 12 months.

Data	Last Updated (UTC time)
Company Analysis	2022/06/25 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31