Adecoagro SA (AGRO) financial statements
Adecoagro SA reported revenue of $1.5B in fiscal 2024, up 9.4% a year over 9 years.
Net income was $92M and the operating margin 12.0%, against 14.2% in 2015.
Free cash flow was $67M, and the company returned $35M in dividends and $67M in net buybacks.
The diluted share count fell 16% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Adecoagro SA's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $674M | $869M | $933M | $793M | $887M | $818M | $1.1B | $1.3B | $1.3B | $1.5B |
| Cost of revenue | $558M | $679M | $767M | $610M | $671M | $612M | $855M | $1.1B | $973M | $1.2B |
| Gross profit | $186M | $310M | $239M | $199M | $286M | $336M | $484M | $466M | $415M | $435M |
| Selling, general and admin | $119M | $131M | $153M | $146M | $164M | $148M | $187M | $228M | $199M | $257M |
| Operating income | $95M | $185M | $130M | $156M | $121M | $189M | $278M | $250M | $242M | $182M |
| Interest expense | $49M | $48M | $52M | $47M | $60M | $58M | $63M | $50M | $32M | $41M |
| Pre-tax income | -$12M | $27M | $10M | -$24M | $21M | $13M | $175M | $135M | $305M | $35M |
| Income tax | -$8M | $13M | -$5M | -$1M | $21M | $12M | $44M | $27M | $79M | -$57M |
| Net income | -$6M | $12M | $13M | -$25M | -$772,000 | $412,000 | $131M | $108M | $226M | $92M |
| EPS (diluted) | -$0.05 | $0.09 | $0.11 | -$0.21 | -$0.01 | $0.00 | $1.13 | $0.98 | $2.10 | $0.90 |
| Diluted shares | 122M | 123M | 122M | 118M | 118M | 118M | 116M | 110M | 107M | 103M |
| Gross margin | 27.5% | 35.7% | 25.6% | 25.0% | 32.3% | 41.0% | 43.1% | 34.5% | 32.0% | 28.6% |
| Operating margin | 14.2% | 21.2% | 13.9% | 19.7% | 13.7% | 23.1% | 24.7% | 18.5% | 18.6% | 12.0% |
| Net margin | -0.8% | 1.3% | 1.4% | -3.1% | -0.1% | 0.1% | 11.6% | 8.0% | 17.4% | 6.1% |
Balance sheet
Fiscal years, from Adecoagro SA's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $199M | $159M | $269M | $274M | $290M | $336M | $200M | $231M | $340M | $211M |
| Receivables | — | $158M | $150M | $159M | $127M | $146M | $146M | $184M | $179M | $213M |
| Inventory | — | $112M | $109M | $128M | $113M | $133M | $240M | $274M | $256M | $290M |
| Total current assets | — | $568M | $689M | $661M | $649M | $767M | $762M | $1.0B | $1.1B | $1.0B |
| Property, plant and equipment | $697M | $815M | $831M | $1.5B | $1.5B | $1.4B | $1.4B | $1.6B | $1.5B | $1.5B |
| Goodwill | — | $13M | $12M | — | — | — | — | — | — | — |
| Total assets | — | $1.5B | $1.6B | $2.3B | $2.5B | $2.5B | $2.6B | $3.1B | $3.2B | $3.1B |
| Total current liabilities | — | $332M | $282M | $278M | $364M | $359M | $357M | $611M | $494M | $400M |
| Long-term debt | — | $430M | $663M | $718M | $780M | $813M | $705M | $728M | $698M | $680M |
| Total liabilities | — | $784M | $962M | $1.2B | $1.5B | $1.5B | $1.5B | $1.9B | $1.9B | $1.7B |
| Shareholders' equity | $564M | $700M | $674M | $1.1B | $988M | $925M | $1.0B | $1.1B | $1.2B | $1.4B |
| Net debt | -$199M | $477M | $549M | $588M | $678M | $635M | $618M | $777M | $565M | $568M |
Cash flow
Fiscal years, from Adecoagro SA's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $145M | $255M | $237M | $219M | $322M | $257M | $349M | $370M | $435M | $328M |
| Capital spending | $143M | $134M | $201M | $210M | $261M | $170M | $201M | $221M | $243M | $261M |
| Free cash flow | $3M | $122M | $36M | $8M | $61M | $87M | $147M | $149M | $192M | $67M |
| Stock-based compensation | $4M | $5M | $6M | $5M | $5M | $4M | $6M | $10M | $9M | $7M |
| Dividends paid | — | — | $3M | $408,000 | $497,000 | $2M | $298,000 | $35M | $35M | $35M |
| Share buybacks (net) | -$320,000 | -$5M | -$38M | -$16M | -$4M | -$4M | -$66M | -$37M | -$26M | -$67M |
| Net borrowing | $134M | -$111M | -$370M | -$79M | $6M | $81M | -$77M | $27M | -$16M | $21M |
| Free cash flow margin | 0.4% | 14.0% | 3.9% | 1.0% | 6.9% | 10.7% | 13.1% | 11.0% | 14.8% | 4.4% |
| Dividends per share | — | — | $0.02 | $0.00 | $0.00 | $0.02 | $0.00 | $0.32 | $0.33 | $0.34 |
Questions
What was Adecoagro SA's revenue in 2024?
$1.5B in fiscal 2024, from its 10-K filing.
How much free cash flow does Adecoagro SA generate?
$67M in fiscal 2024 (operating cash flow minus capital spending).
From Adecoagro SA's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.