LND (LND) financial statements

· Market cap $379M

LND reported revenue of 877M BRL in fiscal 2025, up 10.5% a year over 9 years.

Net income was 138M BRL and the operating margin 23.5%, against 52.2% in 2019.

Free cash flow was -8M BRL, and the company returned 156M BRL in dividends.

The diluted share count rose 85% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (BRL).

-0.500.511.52019202020202021202120222022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in BRL, from LND's 10-K filings with the SEC.

Fiscal year2019202020202021202120222022202320242025
Revenue358M BRL488M BRL—663M BRL—1.2B BRL—903M BRL771M BRL877M BRL
Cost of revenue319M BRL484M BRL—729M BRL—1.1B BRL—886M BRL747M BRL834M BRL
Gross profit236M BRL221M BRL—492M BRL—776M BRL—394M BRL312M BRL338M BRL
Selling, general and admin49M BRL58M BRL—75M BRL—100M BRL—107M BRL121M BRL127M BRL
Operating income187M BRL164M BRL—394M BRL—690M BRL—276M BRL186M BRL206M BRL
Interest expense18M BRL25M BRL—29M BRL—68M BRL—52M BRL67M BRL84M BRL
Pre-tax income200M BRL134M BRL—298M BRL—637M BRL—282M BRL192M BRL—
Net income177M BRL-6M BRL120M BRL-9M BRL318M BRL520M BRL520M BRL269M BRL227M BRL138M BRL
EPS (diluted)3.27 BRL2.09 BRL2.09 BRL4.45 BRL4.45 BRL5.23 BRL5.23 BRL2.70 BRL2.27 BRL1.38 BRL
Diluted shares54M0M57M0M71M99M99M99M100M100M
Gross margin66.0%45.4%—74.1%—66.4%—43.6%40.4%38.5%
Operating margin52.2%33.7%—59.4%—59.1%—30.5%24.1%23.5%
Net margin49.5%-1.2%—-1.3%—44.5%—29.7%29.4%15.7%

Balance sheet

Fiscal years, in BRL, from LND's 10-K filings with the SEC.

Fiscal year2019202020202021202120222022202320242025
Cash and short-term investments111M BRL171M BRL—1.1B BRL—530M BRL—384M BRL171M BRL143M BRL
Receivables125M BRL111M BRL—187M BRL—442M BRL—430M BRL415M BRL429M BRL
Inventory97M BRL139M BRL—266M BRL—290M BRL—214M BRL234M BRL294M BRL
Total current assets441M BRL617M BRL———1.6B BRL—1.3B BRL——
Property, plant and equipment108M BRL116M BRL—110M BRL—128M BRL—155M BRL202M BRL233M BRL
Goodwill2M BRL1M BRL————————
Total assets1.4B BRL2.0B BRL—3.4B BRL—3.3B BRL—3.5B BRL3.6B BRL3.8B BRL
Total current liabilities227M BRL400M BRL—661M BRL—484M BRL—632M BRL527M BRL658M BRL
Long-term debt209M BRL297M BRL—341M BRL—330M BRL—356M BRL505M BRL530M BRL
Total liabilities477M BRL923M BRL—1.2B BRL—1.1B BRL—1.3B BRL1.4B BRL1.7B BRL
Shareholders' equity881M BRL1.1B BRL—2.2B BRL—2.2B BRL—2.2B BRL2.2B BRL2.2B BRL
Net debt179M BRL343M BRL—-396M BRL—18M BRL—171M BRL511M BRL743M BRL

Cash flow

Fiscal years, in BRL, from LND's 10-K filings with the SEC.

Fiscal year2019202020202021202120222022202320242025
Operating cash flow51M BRL60M BRL—117M BRL—205M BRL—156M BRL79M BRL72M BRL
Capital spending———19M BRL—51M BRL—61M BRL68M BRL80M BRL
Free cash flow———99M BRL—154M BRL—95M BRL11M BRL-8M BRL
Stock-based compensation2M BRL2M BRL—3M BRL—3M BRL—6M BRL2M BRL1M BRL
Dividends paid41M BRL50M BRL—42M BRL—460M BRL—320M BRL319M BRL156M BRL
Net borrowing———142M BRL—-236M BRL—90M BRL97M BRL159M BRL
Free cash flow margin———14.9%—13.2%—10.5%1.4%-1.0%
Dividends per share0.76 BRL875.64 BRL—588.10 BRL—4.63 BRL—3.22 BRL3.19 BRL1.56 BRL
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Questions

What was LND's revenue in 2025?

877M BRL in fiscal 2025, from its 10-K filing.

How much free cash flow does LND generate?

-8M BRL in fiscal 2025 (operating cash flow minus capital spending).

From LND's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.