Adecoagro S.A.

AGRO

Agricultural Farm Products · Consumer Defensive

Also trades as: 0DWL.L

Price

$9.62

+0.17 (+1.75%)

Market Cap

$5.42B

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 10, 2026 · filings through Mar 31, 2026

Share count falling — buybacks

−11.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 578.1M (2021) → 512.2M (2025)

Adecoagro is a farming and food production company based in South America. It grows crops like soybeans, corn, wheat, and sunflowers, and it also produces sugar, ethanol, and electricity from sugarcane. The company owns and operates large farms and processing facilities across Argentina, Brazil, and Uruguay.

Adecoagro makes money by selling these agricultural commodities and food products to buyers in local and international markets. It is a mid-sized agribusiness with operations spread across millions of acres of farmland, and its scale and land ownership give it some cost advantages over smaller producers. However, the company faces real risks from volatile commodity prices, currency fluctuations in Argentina and Brazil, and unpredictable weather that can hurt crop yields — any of these can significantly impact revenue and profits from one year to the next.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+22.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+55.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Insider Activity

79.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~6 months

$173M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Adecoagro S.A. has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

29.7%

Modest — 29.7% gross margin

Operating Margin

7.0%

Modest — 7.0% operating margin

ROCE

0.8%

Weak — 0.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-5.2%

Shrinking sales (-5.2% YoY)

EPS YoY

-97.6%

Earnings shrinking (-97.6% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

1/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

2111%

Turns 2111% of profit into real cash

FCF Margin

3.4%

Thin free cash flow (3.4%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

1.06

Elevated debt (1.06)

Interest Cover

0.69x

Dangerous — barely covers interest (0.7x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

N/A

Data not available

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

3.13%

Moderate income — 3.13% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

-1.6%

Dividend cut (-1.6% YoY) — warning sign

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