Latest Ratios: P/E Ratio -586.6x · EV/EBITDA 20.7x · ROE -0.5%. (2007–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.4B | $4.1B | $4.9B | $6.0B | $4.6B | $4.4B | $4.0B | $4.9B | $4.1B | $6.3B | $6.4B |
| Enterprise Value | $7.0B | $5.6B | $5.8B | $6.9B | $5.7B | $5.3B | $4.8B | $5.8B | $4.7B | $6.9B | $6.9B |
| P/E Ratio → | -586.59 | — | 52.39 | 26.43 | 41.45 | 33.39 | 3777.78 | 13950.00 | — | 470.00 | 552.13 |
| P/S Ratio | 3.80 | 2.84 | 3.20 | 4.59 | 3.40 | 3.95 | 4.89 | 5.53 | 5.17 | 6.77 | 7.35 |
| P/B Ratio | 2.75 | 2.27 | 3.45 | 4.71 | 3.93 | 4.24 | 4.15 | 4.77 | 3.70 | 9.79 | 9.51 |
| P/FCF | 263.50 | 197.19 | 74.76 | 31.16 | 32.74 | 32.73 | 49.94 | 87.48 | 1696.59 | 181.97 | 53.21 |
| P/OCF | 19.05 | 14.26 | 14.80 | 13.72 | 12.37 | 12.73 | 15.57 | 15.23 | 18.77 | 26.65 | 25.02 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.94 | 3.80 | 5.32 | 4.22 | 4.72 | 5.91 | 6.54 | 5.91 | 7.36 | 7.90 |
| EV / EBITDA | 20.70 | 16.66 | 11.86 | 13.40 | 11.29 | 11.41 | 13.00 | 17.01 | 15.09 | 24.85 | 23.04 |
| EV / EBIT | 105.27 | 54.04 | 52.99 | 18.30 | 26.29 | 19.90 | 57.39 | 63.88 | 203.80 | 110.24 | 91.10 |
| EV / FCF | — | 273.24 | 88.77 | 36.08 | 40.72 | 39.10 | 60.31 | 103.42 | 1940.07 | 197.77 | 57.18 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.6% | 24.6% | 28.6% | 32.0% | 34.5% | 43.1% | 41.0% | 32.3% | 25.0% | 25.6% | 35.7% |
| Operating Margin | 4.7% | 4.7% | 12.0% | 18.6% | 18.5% | 24.7% | 23.1% | 13.7% | 19.7% | 13.4% | 19.6% |
| Net Profit Margin | -0.6% | -0.6% | 6.1% | 17.4% | 8.0% | 11.6% | 0.1% | -0.1% | -3.1% | 1.1% | 0.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.5% | -0.5% | 6.9% | 18.6% | 9.8% | 13.0% | 0.0% | -0.1% | -2.8% | 1.5% | 0.3% |
| ROA | -0.2% | -0.2% | 2.9% | 7.2% | 3.8% | 5.2% | 0.0% | -0.0% | -1.3% | 0.7% | 0.1% |
| ROIC | 1.8% | 1.8% | 6.0% | 8.1% | 8.9% | 11.3% | 7.6% | 5.0% | 8.1% | 8.0% | 11.5% |
| ROCE | 1.9% | 1.9% | 6.8% | 9.3% | 10.6% | 12.8% | 8.8% | 5.8% | 9.4% | 10.2% | 15.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.09 | 1.09 | 0.80 | 1.01 | 1.16 | 1.02 | 1.21 | 1.15 | 0.78 | 1.27 | 0.95 |
| Debt / EBITDA | 5.77 | 5.77 | 2.31 | 2.49 | 2.67 | 2.29 | 3.14 | 3.47 | 2.77 | 2.96 | 2.13 |
| Net Debt / Equity | — | 0.87 | 0.65 | 0.75 | 0.96 | 0.83 | 0.86 | 0.87 | 0.53 | 0.85 | 0.71 |
| Net Debt / EBITDA | 4.64 | 4.64 | 1.87 | 1.83 | 2.21 | 1.86 | 2.23 | 2.62 | 1.89 | 1.99 | 1.60 |
| Debt / FCF | — | 76.05 | 14.00 | 4.93 | 7.98 | 6.37 | 10.36 | 15.94 | 243.48 | 15.81 | 3.97 |
| Interest Coverage | 0.94 | 0.94 | 1.48 | 7.09 | 2.67 | 3.22 | 1.11 | 1.22 | 0.40 | 0.91 | 1.43 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.38 | 1.38 | 2.54 | 2.14 | 1.67 | 2.13 | 2.13 | 1.78 | 2.38 | 2.44 | 1.71 |
| Quick Ratio | 0.77 | 0.77 | 1.19 | 1.20 | 0.77 | 0.92 | 1.34 | 1.15 | 1.58 | 1.50 | 0.96 |
| Cash Ratio | 0.46 | 0.46 | 0.53 | 0.69 | 0.54 | 0.56 | 0.94 | 0.80 | 0.98 | 0.95 | 0.48 |
| Asset Turnover | — | 0.27 | 0.49 | 0.41 | 0.43 | 0.44 | 0.33 | 0.35 | 0.35 | 0.58 | 0.60 |
| Inventory Turnover | 1.72 | 1.72 | 2.01 | 1.92 | 1.60 | 1.47 | 1.70 | 2.61 | 2.68 | 2.62 | 2.25 |
| Days Sales Outstanding | — | 76.53 | 38.29 | 36.33 | 36.29 | 38.10 | 52.42 | 27.14 | 33.73 | 39.76 | 53.65 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.7% | 0.9% | 0.7% | 0.6% | 0.8% | — | — | — | — | — | — |
| Payout Ratio | — | — | 37.9% | 15.5% | 32.4% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 1.9% | 3.8% | 2.4% | 3.0% | 0.0% | 0.0% | — | 0.2% | 0.2% |
| FCF Yield | 0.4% | 0.5% | 1.3% | 3.2% | 3.1% | 3.1% | 2.0% | 1.1% | 0.1% | 0.5% | 1.9% |
| Buyback Yield | 0.2% | 0.3% | 1.4% | 0.4% | 0.8% | 1.5% | 0.1% | 0.1% | 0.4% | 0.6% | 0.1% |
| Total Shareholder Yield | 0.9% | 1.1% | 2.1% | 1.0% | 1.6% | 1.5% | 0.1% | 0.1% | 0.4% | 0.6% | 0.1% |
| Shares Outstanding | — | $512M | $515M | $537M | $552M | $578M | $589M | $586M | $589M | $611M | $616M |
Commodity and currency volatility
According to current market data, AGRO trades at a forward P/E of 5.31, which appears to reflect a significant discount compared to broader agricultural peers, likely driven by the market's persistent skepticism regarding the company's complex multi-country footprint and the volatility of its industrial earnings.
The wide gap between the trailing P/E of -573.78 and the forward multiple suggests that investors are pricing in a recovery in earnings power that remains highly speculative. This valuation profile indicates that the market is currently unwilling to assign a premium to the company's land transformation model, preferring to treat the stock as a cyclical commodity play rather than a long-term compounder.
Based on reported financial statements, Adecoagro's ROIC has struggled to maintain momentum, frequently hovering near or below 1% over the last ten quarters, which suggests that the company's heavy investment in industrial milling assets is not yet generating returns that consistently exceed its cost of capital.
The inability to drive ROIC higher despite the vertical integration strategy implies that the capital-intensive nature of the business model may be creating a drag on shareholder value. Investors should monitor whether future capital allocation shifts toward higher-margin land development can improve these returns, or if the current industrial overhead will continue to suppress capital efficiency.
As indicated by the company's quarterly filings, the cash conversion cycle has remained elevated, peaking at 285 days in 2024Q1, which highlights the significant liquidity pressure created by long inventory holding periods and the seasonal nature of agricultural production cycles across the company's core operating regions.
The high days inventory outstanding, which reached 201 days in 2026Q1, suggests that the company is carrying substantial capital in the form of unharvested crops and processed goods. This inefficiency forces a reliance on external financing to bridge the gap between production and cash realization, limiting the company's operational flexibility during periods of commodity price weakness.
According to recent balance sheet data, the debt-to-equity ratio has trended upward to 1.16 as of 2026Q1, signaling that the company is increasingly utilizing leverage to fund its industrial expansion, a trend that warrants caution given the inherent volatility of the firm's underlying cash flows.
While the interest coverage ratio has shown periods of stability, the erratic nature of these figures—ranging from 0.31 to 10.70—suggests that debt service capacity is highly sensitive to short-term operational outcomes. The reliance on debt to support capital-intensive projects may leave the balance sheet vulnerable if commodity prices or regional currency conditions deteriorate unexpectedly.
As noted in industry research, the P/E ratio is frequently misapplied to Adecoagro's business model, as it fails to account for the non-cash distortions caused by IAS 41 biological asset revaluations that frequently swing the bottom line into artificial losses or gains.
Analysts should instead focus on EV/EBITDA or cash-flow-based metrics to better capture the underlying operational performance of the sugar and ethanol mills. Relying on P/E in this context obscures the true earning power of the industrial assets and leads to an inaccurate assessment of the company's valuation relative to its peers.
Includes 30+ ratios · 19 years · Updated daily
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Quick answers to the most common questions about buying AGRO stock.
Adecoagro S.A.'s current P/E ratio is -586.6x. The historical average is 48.0x.
Adecoagro S.A.'s current EV/EBITDA is 20.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.4x.
Adecoagro S.A.'s return on equity (ROE) is -0.5%. The historical average is 2.6%.
Based on historical data, Adecoagro S.A. is trading at a P/E of -586.6x. Compare with industry peers and growth rates for a complete picture.
Adecoagro S.A.'s current dividend yield is 0.71%.
Adecoagro S.A. has 24.6% gross margin and 4.7% operating margin.
Adecoagro S.A.'s Debt/EBITDA ratio is 5.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.