ValueScreener

ValueScreener company report

Adecoagro S.A. (AGRO)

NYSE / Consumer Defensive / Agricultural Farm Products

Share price

10.05 USD Market dataClose of Oct 15, 2026

Market capitalisation

5.67B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2024, filed Apr 25, 2025
Ratios computed
Oct 15, 2026
Filed years
9, FY2016 to FY2024
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

6.7% Computed

From the FY2024 filing

Read quality

Valuation

Price to earnings

61.40x Computed

FY2024 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

1.2% Computed

FY2024 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

FY2015 Revenue: 674.3M USDFY2015 Net income: 17.1M USDFY2016 Revenue: 869.2M USDFY2016 Net income: 11.6M USDFY2017 Revenue: 933.2M USDFY2017 Net income: 13.2M USDFY2018 Revenue: 793.2M USDFY2018 Net income: -24.6M USDFY2019 Revenue: 887.1M USDFY2019 Net income: -772.0K USDFY2020 Revenue: 817.8M USDFY2020 Net income: 412.0K USDFY2021 Revenue: 1.12B USDFY2021 Net income: 130.7M USDFY2022 Revenue: 1.35B USDFY2022 Net income: 108.1M USDFY2023 Revenue: 1.30B USDFY2023 Net income: 226.3M USDFY2024 Revenue: 1.52B USDFY2024 Net income: 92.3M USD
Revenue Net income10 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
0 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 61.40x at the close of 2026-10-15 on FY2024 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits above the highest.

Today, against the Consumer Defensive sector (135 companies), 61.40x sits at the 91st percentile; the middle half of that group runs from 13.84x to 33.63x.

Is it good

Return on equity was 6.7% in FY2024, in the band labelled "Likely below the cost of equity" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on shareholders' money below the usual cost of equity.

Today, against the Consumer Defensive sector (197 companies), 6.7% sits at the 53rd percentile; the middle half of that group runs from -19.4% to 16.4%.

Is it safe

Interest coverage was 1.10x in FY2024, in the band labelled "Distress territory" (below 1.50x), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit barely covers.

Year by year against peers
Whether Adecoagro S.A.'s return on equity stayed above the median of the Consumer Defensive sector, year by year. (FY2021 to FY2024, 4 fiscal years of Adecoagro S.A. with a comparable figure)
The direction
Which way Adecoagro S.A.'s return on equity has moved, and how steadily. (FY2015 to FY2024, 10 filed years of Adecoagro S.A.)
What could explain it
What in Adecoagro S.A.'s filed statements could explain the movements. (7 readings drawn from the statement lines Adecoagro S.A. filed)
What to check next
What to check next on Adecoagro S.A., and where in its filings. (2 questions for Adecoagro S.A.)
In one paragraph
One paragraph on Adecoagro S.A.'s returns, cash, balance sheet and price. (13 of sixteen figures read for Adecoagro S.A.)

These are AGRO’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research AGROPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2024 annual report: 20-F, filed Apr 25, 2025, accession 0001499505-25-000006.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Adecoagro S.A: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.

n/a ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Return on equity6.7% ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Return on capital employed, pre-tax6.7% ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Return on assets3.0% ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Gross margin28.6% ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Operating margin12.0% ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Net margin6.1% ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
AGRO 6.1%
OLLI 9.1%INGR 10.1%GHC 6.0%IPAR 11.3%CHEF 1.7%
1.7%11.3%
Net margin: AGRO against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Adecoagro S.A: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.82 ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Current ratio2.54 ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Quick ratio1.81 ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Interest coverage1.10x ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Altman Z-score3.14 ComputedClose of Oct 15, 2026 · FY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Net debt910.3M ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Total assets 3.11BTotal liabilities 1.71BShareholders' equity 1.37BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Adecoagro S.A owned and owed at the end of fiscal 2024, from the balance sheet it filed (20-F, filed Apr 25, 2025, 0001499505-25-000006).

Adecoagro S.A: balance sheet position
Total assets3.11B FiledFY2024 20-F, filed Apr 25, 2025
Total liabilities1.71B FiledFY2024 20-F, filed Apr 25, 2025
Shareholders' equity1.37B FiledFY2024 20-F, filed Apr 25, 2025
Cash211.2M FiledFY2024 20-F, filed Apr 25, 2025
Total debt1.12B FiledFY2024 20-F, filed Apr 25, 2025
Net debt910.3M
Current ratio2.54
Debt to equity0.82

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Adecoagro S.A: what the market charges, each with its source
FigureValue, source and document
Price to earnings61.40x ComputedClose of Oct 15, 2026 · FY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book4.14x ComputedClose of Oct 15, 2026 · FY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Price to sales3.73x ComputedClose of Oct 15, 2026 · FY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Enterprise value to EBIT36.10x ComputedClose of Oct 15, 2026 · FY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Enterprise value to EBITDA17.71x ComputedClose of Oct 15, 2026 · FY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Diluted earnings per share
Why n/a

The FY2024 filing carries no diluted earnings per share we could read.

n/a FiledFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Graham number
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006

We publish no fair value or price target of our own. Value AGRO on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Adecoagro S.A today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Adecoagro S.A: valuation
Share price10.05 USD
Market capitalisation5.67B USD
Enterprise value to EBITDA17.71x
Graham numbern/a
Diluted earnings per share, FY2015n/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Adecoagro S.A

  1. Ollie's Bargain Outlet Holdings, Inc. (OLLI)Market cap 5.68B USD
  2. Ingredion Incorporated (INGR)Market cap 6.13B USD
  3. Graham Holdings Company (GHC)Market cap 5.08B USD
  4. Inter Parfums, Inc. (IPAR)Market cap 3.69B USD
  5. The Chefs' Warehouse, Inc. (CHEF)Market cap 4.66B USD

Same sector (Consumer Defensive) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Adecoagro S.A: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield1.2% ComputedClose of Oct 15, 2026 · FY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Free cash flow68.1M USD ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Free cash flow margin4.5% ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
FY2015 Free cash flow: 2.2M USDFY2015 Net income: 17.1M USDFY2016 Free cash flow: 123.0M USDFY2016 Net income: 11.6M USDFY2017 Free cash flow: 38.6M USDFY2017 Net income: 13.2M USDFY2018 Free cash flow: 11.4M USDFY2018 Net income: -24.6M USDFY2019 Free cash flow: 69.7M USDFY2019 Net income: -772.0K USDFY2020 Free cash flow: 88.6M USDFY2020 Net income: 412.0K USDFY2021 Free cash flow: 149.4M USDFY2021 Net income: 130.7M USDFY2022 Free cash flow: 152.3M USDFY2022 Net income: 108.1M USDFY2023 Free cash flow: 193.3M USDFY2023 Net income: 226.3M USDFY2024 Free cash flow: 68.1M USDFY2024 Net income: 92.3M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Adecoagro S.A.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
61.40xFY2024Oct 15, 2026
4.14xFY2024Oct 15, 2026
36.10xFY2024Oct 15, 2026
1.2%FY2024Oct 15, 2026
n/aFY2024Apr 25, 2025
n/a The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.
n/aFY2024Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
0.82FY2024Apr 25, 2025
2.54FY2024Apr 25, 2025
3.73xFY2024Oct 15, 2026
n/aFY2024Oct 15, 2026
n/a The filed income statement reports no earnings per share.
3.14FY2024Oct 15, 2026
-2.25FY2024Apr 25, 2025
6/9FY2024Apr 25, 2025

The figures are computed from the accounts for fiscal 2024, the newest full year on file. 9 filed fiscal years on record, FY2016 to FY2024, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 fiscal years, FY2015 to FY2024. 9 read from the annual reports Adecoagro S.A filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

Adecoagro S.A: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20241.52B182.3M92.3Mn/a68.1M12.0%6.7%20-F, Apr 25, 20250001499505-25-000006
FY20231.30B241.6M226.3Mn/a193.3M18.6%18.4%20-F, Apr 26, 20240001628280-24-018617
FY20221.35B249.8M108.1Mn/a152.3M18.5%9.6%20-F, Apr 26, 20230001628280-23-013277
FY20211.12B278.0M130.7Mn/a149.4M24.7%12.9%20-F, Apr 28, 20220001628280-22-011147
FY2020817.8M189.1M412.0Kn/a88.6M23.1%0.0%20-F, Apr 29, 20210001628280-21-007998
FY2019887.1M121.4M-772.0Kn/a69.7M13.7%-0.1%20-F, Apr 28, 20200001628280-20-005757
FY2018793.2M156.5M-24.6Mn/a11.4M19.7%-2.3%20-F, Apr 29, 20190001628280-19-004963
FY2017933.2M129.6M13.2Mn/a38.6M13.9%2.0%20-F, Apr 27, 20180001628280-18-005268
FY2016869.2M184.6M11.6Mn/a123.0M21.2%1.6%20-F, Apr 27, 20180001628280-18-005268
FY2015674.3M129.9M17.1M-0.012.2M19.3%3.2%Market data, supplied Oct 15, 2026accession n/a
  • Revenue, compound annual growth FY2015 to FY2024: 9.4%
  • Earnings, compound annual growth FY2015 to FY2024: 20.6%
  • Earnings per share: Fewer than two filed years carry earnings per share.
  • Free cash flow, compound annual growth FY2015 to FY2024: 46.3%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Adecoagro S.A: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.25 ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Piotroski F-score6/9 ComputedFY2024 20-F, filed Apr 25, 2025, 0001499505-25-000006
Named tests met0 of 30 Computed
Beta-0.53 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 0 met, 27 not met, 3 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
None of the named tests.
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
ROIC at or above WACC; P/E times P/B (Benjamin Graham); Cash-covered dividend. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(10)
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • Return on Invested Capital: The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 10 figures could not be read on this company, among them Positive Earnings Streak, Return on Invested Capital, PEG Ratio. Each blank in the table above names the rest, with its reason. 3 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 9 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

No card. 30 free days, and nothing is charged unless you choose a plan.

Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

Site map
  • Android app coming soon
  • iPhone app coming soon
ValueScreener

Discover companies, research each one to its filings, track what matters, and take your work into your own spreadsheet.

ValueScreener is a trading name of Oliva Real Estate Technologies LLC, a Delaware limited liability company. Legal notices: legal@valuescreener.ai. © 2026 Oliva Real Estate Technologies LLC. All rights reserved.

Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.