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Adecoagro

NYSE:AGRO
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AGRO
NYSE
$803M
Market Cap
  1. Home
  2. US
  3. Food, Beverage & Tobacco
Company description

Adecoagro S.A., an agro-industrial company, engages in farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production, and land transformation activities in South America. The last earnings update was 57 days ago. More info.


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AGRO Share Price and Events
7 Day Returns
-2%
NYSE:AGRO
-0.8%
US Food
1.1%
US Market
1 Year Returns
-18.2%
NYSE:AGRO
-0.3%
US Food
4.7%
US Market
AGRO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Adecoagro (AGRO) -2% 2.2% 0.3% -18.2% -36.5% -30.1%
US Food -0.8% -0.3% 2.5% -0.3% -16.7% 21.6%
US Market 1.1% 4.3% 2.9% 4.7% 37.7% 43.6%
1 Year Return vs Industry and Market
  • AGRO underperformed the Food industry which returned -0.3% over the past year.
  • AGRO underperformed the Market in United States of America which returned 4.7% over the past year.
Price Volatility
AGRO
Industry
5yr Volatility vs Market

AGRO Value

 Is Adecoagro undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Adecoagro to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Adecoagro.

NYSE:AGRO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:AGRO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Food Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.564 (1 + (1- 26.01%) (132.52%))
1.079
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.079 * 5.96%)
9.16%

Discounted Cash Flow Calculation for NYSE:AGRO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Adecoagro is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:AGRO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.16%)
2020 75.50 Analyst x2 69.16
2021 124.00 Analyst x2 104.06
2022 175.00 Analyst x1 134.54
2023 218.25 Est @ 24.71% 153.71
2024 257.80 Est @ 18.12% 166.32
2025 292.60 Est @ 13.5% 172.94
2026 322.66 Est @ 10.27% 174.69
2027 348.50 Est @ 8.01% 172.85
2028 370.89 Est @ 6.42% 168.52
2029 390.60 Est @ 5.32% 162.58
Present value of next 10 years cash flows $1,479.37
NYSE:AGRO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $390.60 × (1 + 2.73%) ÷ (9.16% – 2.73%)
$6,239.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $6,239.95 ÷ (1 + 9.16%)10
$2,597.29
NYSE:AGRO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,479.37 + $2,597.29
$4,076.66
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $4,076.66 / 116.56
$34.98
NYSE:AGRO Discount to Share Price
Calculation Result
Value per share (USD) From above. $34.98
Current discount Discount to share price of $6.89
= -1 x ($6.89 - $34.98) / $34.98
80.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Adecoagro is available for.
Intrinsic value
>50%
Share price is $6.89 vs Future cash flow value of $34.98
Current Discount Checks
For Adecoagro to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Adecoagro's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Adecoagro's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Adecoagro's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Adecoagro's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:AGRO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.32
NYSE:AGRO Share Price ** NYSE (2019-07-16) in USD $6.89
United States of America Food Industry PE Ratio Median Figure of 42 Publicly-Listed Food Companies 25.55x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Adecoagro.

NYSE:AGRO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AGRO Share Price ÷ EPS (both in USD)

= 6.89 ÷ -0.32

-21.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Adecoagro is loss making, we can't compare its value to the US Food industry average.
  • Adecoagro is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Adecoagro's expected growth come at a high price?
Raw Data
NYSE:AGRO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -21.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
50.4%per year
United States of America Food Industry PEG Ratio Median Figure of 31 Publicly-Listed Food Companies 1.58x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Adecoagro, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Adecoagro's assets?
Raw Data
NYSE:AGRO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $9.01
NYSE:AGRO Share Price * NYSE (2019-07-16) in USD $6.89
United States of America Food Industry PB Ratio Median Figure of 68 Publicly-Listed Food Companies 2.03x
United States of America Market PB Ratio Median Figure of 5,240 Publicly-Listed Companies 1.81x
NYSE:AGRO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AGRO Share Price ÷ Book Value per Share (both in USD)

= 6.89 ÷ 9.01

0.76x

* Primary Listing of Adecoagro.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Adecoagro is good value based on assets compared to the US Food industry average.
X
Value checks
We assess Adecoagro's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. Adecoagro has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AGRO Future Performance

 How is Adecoagro expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
50.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Adecoagro expected to grow at an attractive rate?
  • Adecoagro's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Adecoagro's earnings growth is expected to exceed the United States of America market average.
  • Adecoagro's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:AGRO Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:AGRO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 50.4%
NYSE:AGRO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 9.8%
United States of America Food Industry Earnings Growth Rate Market Cap Weighted Average 20.3%
United States of America Food Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:AGRO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AGRO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,191 1
2021-12-31 1,100 268 67 5
2020-12-31 999 225 69 8
2019-12-31 911 215 41 6
NYSE:AGRO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 797 256 -37
2018-12-31 793 219 -25
2018-09-30 826 240 -13
2018-06-30 910 218 -19
2018-03-31 923 241 17
2017-12-31 933 237 13
2017-09-30 990 319 20
2017-06-30 973 297 29
2017-03-31 914 241 5
2016-12-31 869 255 12
2016-09-30 756 132 -20
2016-06-30 680 110 -10

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Adecoagro's earnings are expected to grow significantly at over 20% yearly.
  • Adecoagro's revenue is expected to grow by 9.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:AGRO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Adecoagro Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AGRO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.58 0.96 0.14 3.00
2020-12-31 0.59 0.62 0.57 2.00
2019-12-31 0.50 0.58 0.41 3.00
NYSE:AGRO Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.32
2018-12-31 -0.21
2018-09-30 -0.17
2018-06-30 -0.30
2018-03-31 0.15
2017-12-31 0.11
2017-09-30 0.12
2017-06-30 0.16
2017-03-31 0.05
2016-12-31 0.10
2016-09-30 -0.16
2016-06-30 -0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Adecoagro is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Adecoagro's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Adecoagro has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AGRO Past Performance

  How has Adecoagro performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Adecoagro's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Adecoagro does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Adecoagro's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Adecoagro's 1-year growth to the US Food industry average as it is not currently profitable.
Earnings and Revenue History
Adecoagro's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Adecoagro Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AGRO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 797.49 -37.04 101.11
2018-12-31 793.24 -24.62 100.96
2018-09-30 825.80 -12.70 120.78
2018-06-30 910.04 -18.87 133.33
2018-03-31 922.65 17.47 113.36
2017-12-31 933.18 13.20 113.38
2017-09-30 989.70 20.24 115.78
2017-06-30 973.15 28.53 102.41
2017-03-31 913.84 5.43 106.32
2016-12-31 869.24 11.57 100.07
2016-09-30 755.82 -19.78 71.59
2016-06-30 679.87 -10.32 71.35
2016-03-31 681.58 2.52 78.61
2015-12-31 674.31 -5.59 87.57
2015-09-30 672.69 -8.51 125.12
2015-06-30 704.95 -13.21 131.05
2015-03-31 738.06 -6.58 134.42
2014-12-31 722.97 11.12 96.71
2014-09-30 675.70 20.03 127.63
2014-06-30 649.42 2.58 122.08
2014-03-31 638.04 -28.22 122.06
2013-12-31 644.62 -27.60 121.42
2013-09-30 651.15 -4.38 118.97
2013-06-30 641.61 -0.23 120.15
2013-03-31 604.09 15.41 115.25
2012-12-31 604.70 13.44 116.29
2012-09-30 580.08 -14.48 118.75

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Adecoagro has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Adecoagro used its assets less efficiently than the US Food industry average last year based on Return on Assets.
  • It is difficult to establish if Adecoagro improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Adecoagro's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Adecoagro has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AGRO Health

 How is Adecoagro's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Adecoagro's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Adecoagro is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Adecoagro's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Adecoagro's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Adecoagro Company Filings, last reported 3 months ago.

NYSE:AGRO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,096.04 885.96 156.89
2018-12-31 1,108.15 861.52 273.64
2018-09-30 1,062.44 814.45 180.83
2018-06-30 512.84 810.22 144.71
2018-03-31 633.14 828.45 183.78
2017-12-31 683.02 817.85 269.20
2017-09-30 689.85 1,108.76 523.18
2017-06-30 662.92 794.16 219.93
2017-03-31 702.28 795.65 231.32
2016-12-31 712.30 635.40 158.57
2016-09-30 648.12 776.70 136.48
2016-06-30 629.04 790.95 167.59
2016-03-31 571.93 794.72 223.69
2015-12-31 527.42 723.06 198.89
2015-09-30 541.31 808.54 224.35
2015-06-30 687.17 784.59 163.47
2015-03-31 665.71 777.40 198.28
2014-12-31 777.23 698.51 113.80
2014-09-30 827.11 784.93 196.79
2014-06-30 897.73 781.58 199.33
2014-03-31 827.08 789.54 247.43
2013-12-31 854.35 659.39 232.15
2013-09-30 908.48 680.24 260.53
2013-06-30 937.64 604.89 204.02
2013-03-31 1,030.79 590.93 210.44
2012-12-31 1,026.04 538.01 218.81
2012-09-30 1,008.64 508.25 223.37
  • Adecoagro's level of debt (80.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (95.4% vs 80.8% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Information is not available.
  • Unable to confirm if Adecoagro has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Adecoagro's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Adecoagro has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AGRO Dividends

 What is Adecoagro's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Adecoagro dividends. Estimated to be 3.03% next year.
If you bought $2,000 of Adecoagro shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Adecoagro's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Adecoagro's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:AGRO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United States of America Food Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 2.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:AGRO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.54 3.00
2020-12-31 0.09 4.00
2019-12-31 0.10 5.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Adecoagro has not reported any payouts.
  • Unable to verify if Adecoagro's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Adecoagro's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Adecoagro has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.6x coverage).
X
Income/ dividend checks
We assess Adecoagro's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Adecoagro afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Adecoagro has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AGRO Management

 What is the CEO of Adecoagro's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mariano Bosch
COMPENSATION $0
AGE 49
TENURE AS CEO 17.5 years
CEO Bio

Mr. Mariano Bosch has been the Chief Executive Officer of Adeco Agropecuaria S.A. and Adecoagro S.A. since 2002. Mr. Bosch is a Co-Founder of Adecoagro S.A. He serves as Independent Director at Replay Acquisition Corp. since April 03, 2019. He has over 18 years of experience in agribusiness development and production agriculture. Mr. Bosch co-founded Adecoagro and served as its Chief Executive Officer, responsible for all operations in Argentina, Brazil and Uruguay since 2002. From 1997 to 2002, he founded and served as the Chief Executive Officer of BLS Agribusiness. He serves as a member of the advisory board of Teays River Investments LLC. Mr. Bosch has been a Director at Adecoagro S.A. since 2002. He serves as a Director of Adeco Agropecuaria S.R.L. Mr. Bosch graduated with a degree in Agricultural Engineering from the University of Buenos Aires.

CEO Compensation
  • Insufficient data for Mariano to compare compensation growth.
  • Insufficient data for Mariano to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Adecoagro management team in years:

15
Average Tenure
53
Average Age
  • The average tenure for the Adecoagro management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mariano Bosch

TITLE
Co-Founder
AGE
49
TENURE
17.5 yrs

Ezequiel Garbers

TITLE
Co-Founder and Country Manager of Argentina & Uruguay
AGE
53
TENURE
15.5 yrs

Walter Sanchez

TITLE
Co-Founder & Chief Commercial Officer
AGE
57
TENURE
17.5 yrs

Carlos A. Hughes

TITLE
Chief Financial Officer
AGE
53
TENURE
11.5 yrs

Emilio Gnecco

TITLE
Chief Legal Officer
AGE
43
TENURE
14.5 yrs

Juan Galleano

TITLE
Investor Relations Manager
TENURE
4.5 yrs

Alejandro Moriena

TITLE
Chief Sustainability Officer
Board of Directors Tenure

Average tenure and age of the Adecoagro board of directors in years:

8.5
Average Tenure
55.5
Average Age
  • The tenure for the Adecoagro board of directors is about average.
Board of Directors

Plínio Musetti

TITLE
Chairman
AGE
66
TENURE
1.2 yrs

Mariano Bosch

TITLE
Co-Founder
AGE
49
TENURE
17.5 yrs

Guillaume van der Linden

TITLE
Independent Director
AGE
60
TENURE
10.5 yrs

Alan Boyce

TITLE
Independent Director
AGE
59
TENURE
17.5 yrs

Mark Schachter

TITLE
Independent Director
AGE
40
TENURE
10.5 yrs

Daniel Gonzalez Casartelli

TITLE
Independent Director
AGE
49
TENURE
5.3 yrs

Andrés Brañes

TITLE
Independent Director
AGE
58
TENURE
8.5 yrs

Ivo Andrés Sarjanovic

TITLE
Independent Director
AGE
53
TENURE
1.5 yrs

Alejandra Smith

TITLE
Director
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Adecoagro's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Adecoagro has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AGRO News

Simply Wall St News

Did You Manage To Avoid Adecoagro's (NYSE:AGRO) 36% Share Price Drop?

Adecoagro isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. … When a company doesn't make profits, we'd generally expect to see good revenue growth. … As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.

Simply Wall St -

Could The Adecoagro S.A. (NYSE:AGRO) Ownership Structure Tell Us Something Useful?

Companies that used to be publicly owned tend to have lower insider ownership. … institutional investors have bought into the company. … We can zoom in on the different ownership groups, to learn more about AGRO

Simply Wall St -

What Investors Should Know About Adecoagro SA's (NYSE:AGRO) Financial Strength

Adecoagro SA (NYSE:AGRO) is a small-cap stock with a market capitalization of US$816m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health.

Simply Wall St -

What You Must Know About Adecoagro SA's (NYSE:AGRO) 2.26% ROE

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Adecoagro SA (NYSE:AGRO) generated a below-average return on equity of 2.26% in the past 12 months, while its industry returned 12.25%. … View our latest analysis for Adecoagro

Simply Wall St -

Is Adecoagro SA's (NYSE:AGRO) Balance Sheet A Threat To Its Future?

Adecoagro SA (NYSE:AGRO) is a small-cap stock with a market capitalization of US$984.09m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is.

Simply Wall St -

How Should You Think About Adecoagro SA's (NYSE:AGRO) Risks?

Broadly speaking, there are two types of risk you should consider when investing in stocks such as AGRO. … The second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market. … A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one.

Simply Wall St -

Adecoagro SA (NYSE:AGRO): Are Forecast Margins sustainable?

As analysts expect … Adecoagro SA (NYSE:AGRO) to … earnings growth of 27.66% annualised

Simply Wall St -

Why Adecoagro SA (NYSE:AGRO) Could Be A Buy

saw a decent share price growth in the teens level on the NYSE over the last few months. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s examine Adecoagro’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Where Adecoagro SA (NYSE:AGRO) Stands In Terms Of Earnings Growth Against Its Industry

After looking at Adecoagro SA's (NYSE:AGRO) latest earnings update (31 March 2018), I found it helpful to revisit the company's performance in the past couple of years and compare this against the latest numbers. … As a long-term investor I tend to focus on earnings trend, rather than a single number at one point in time. … AGRO's trailing twelve-month earnings (from 31 March 2018) of US$11.88m has.

Simply Wall St -

Analysts Bearish On Adecoagro SA. (NYSE:AGRO)

A big red-siren warning for AGRO is its high level of debt, which has been increasing over the past five years, exceeding its total level of equity. … AGRO has managed its cash well at a current level of US$269.20M. … But, comparing AGRO's current share price to its peers based on its industry and earnings level, it's overvalued by 384.37%, with a PE ratio of 90.82x vs.

Simply Wall St -

AGRO Company Info

Description

Adecoagro S.A., an agro-industrial company, engages in farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production, and land transformation activities in South America. The company is involved in the planting, harvesting, and sale of grains and oilseeds, as well as fibers, including wheat, corn, soybeans, cotton, sunflowers, and other; provision of grain warehousing/conditioning, handling, and drying services to third parties; and purchase and sale of crops produced by third parties. It also plants, harvests, processes, and markets rice; and produces and sells milk and other dairy products. In addition, the company engages in the cultivation and processing of sugar and ethanol, as well as cogeneration of electricity from sugarcane bagasse; and identification and acquisition of underdeveloped and undermanaged farmland, and realization of value through the strategic disposition of assets. Further, it is involved in leasing of approximately 18,005 hectares of pasture land to cattle farmers in Argentina; and coffee plantation. As of December 31, 2018, the company owned a total of 231,712 hectares, including 19 farms in Argentina, 9 farms in Brazil, and 1 farm in Uruguay; 3 rice processing facilities in Argentina; and 3 dairy facilities with approximately 8,035 milking cows in Argentina. It also had 11 grain and rice conditioning and storage plants in Argentina; and 3 sugar and ethanol mills in Brazil with a sugarcane crushing capacity of 12.3 million tons, as well as had a total of 232 megawatts of installed cogeneration capacity. Adecoagro S.A. was founded in 2002 and is based in Luxembourg City, Luxembourg.

Details
Name: Adecoagro S.A.
AGRO
Exchange: NYSE
Founded: 2002
$803,068,766
116,555,699
Website: http://www.adecoagro.com
Address: Adecoagro S.A.
Vertigo Naos Building,
6, Rue Eugène Ruppert,
Luxembourg City,
2453,
Luxembourg
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AGRO Common Shares New York Stock Exchange US USD 28. Jan 2011
DB ACD Common Shares Deutsche Boerse AG DE EUR 28. Jan 2011
BMV AGRON N Common Shares Bolsa Mexicana de Valores MX MXN 28. Jan 2011
BASE ADGO CEDEAR EACH 1 REP 2 COM USD1.50 Buenos Aires Stock Exchange AR ARS 08. May 2019
Number of employees
Current staff
Staff numbers
7,921
Adecoagro employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 00:31
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/07/15
Last earnings filing: 2019/05/21
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.