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Adecoagro

AGRO on NYSE. Agricultural production-crops. Market value $1.5bn.

Watch this stockFree. We tell you when something changes.

This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2024.

We can't read total debt from the filing, so debt is left out.

Cash flow or capital spending isn't reported, so free cash flow is unknown.

The latest annual report is over 15 months old, so we don't rank it.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

Nothing stands out yet.

What to watch out for

See Everyday goods stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to December 2024
n/a

We could not compute this from the filings.

Price to profit
annual report to December 2024
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2024
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: not known. Our list needs 70 on quality and 60 on price.

$10.82 a share, 57% above its 1-year low

Over the past year the price has ranged from $6.89 to $15.89.

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
n/a
n/a
n/a
20202021202220232024
Revenue
n/an/an/an/an/a
Operating margin
n/an/an/an/an/a
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.12bn0.11bn0.11bn0.11bn0.10bn

Health checks

  • Free cash flow positiveNot enough data
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)Not enough data
  • Profit backed by cash (accruals)Not enough data
  • DebtUnknown
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesYes, 15% fewer since 2020

Dates

Next results (estimated)
n/a
Last annual report (10-K)
29 April 2026
Next quarterly (estimated, 10-Q)
n/a

Who owns it

None of the long-term investors we follow own it. 87 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

  • Tether Global Investments Fund, S.I.C.A.F., S.A.
    Passive investor
    at least 74.8%0.0 pts
    (filed with 3 related holders)
    Since 24 March 2026
    What they said

    Item 4 is hereby amended and supplemented to add the following: Effective on March 24, 2026, Tether Investments transferred 105,880,368 Common Shares to Tether International, S.A. de C.V. (the "Transfer"). The Transfer resulted in no change in the aggregate number of Common…

    Read the filing
  • Giancarlo Devasini
    Strategic holder
    20.4%+0.2 pts
    Since 15 March 2025
    What they said

    Item 4 is hereby amended and supplemented to add the following: The information set forth in Item 6 of this Schedule 13D is incorporated herein by reference.

    Read the filing
  • Tether Investments, S.A. de C.V.
    Strategic holder
    20.2%
    Since 14 February 2025
    What they said

    Item 4 is hereby amended and supplemented to add the following: On February 14, 2025, Tether Investments, S.A. de C.V. sent a letter (the "Letter") to the Issuer, proposing to make an offer to acquire from other shareholders of the Issuer, for a purchase price of $12.41 per…

    Read the filing
  • at least 2.9%−9.1 pts
    (filed with 1 related holder)
    Since 30 April 2025
  • ROIC, LLC
    Passive investor
    at least 1.5%0.0 pts
    (filed with 4 related holders)
    Since 30 April 2025
  • PRUDENTIAL FINANCIAL INC
    Passive investor
    Sold down below 5%
    Since 31 March 2025
  • Jennison Associates LLC
    Passive investor
    Sold down below 5%
    Since 31 March 2025
  • Banco Santander, S.A
    Passive investor
    Sold down below 5%
    Since 31 March 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 7 sold $2m.

  • Leon Bentancor Oscar Alejandro
    Director
    Sold
    Date
    21 April 2026
    Shares
    1,163
    Price
    $13.03
    Value
    $15,154
  • Louis Dreyfus Kyril Robert Leonid
    Director
    Sold
    Date
    21 April 2026
    Shares
    1,163
    Price
    $13.03
    Value
    $15,154
  • Sarjanovic Ivo
    Director
    Sold
    Date
    21 April 2026
    Shares
    1,163
    Price
    $13.03
    Value
    $15,154
  • Vaz Artigas Manuela
    Director
    Sold
    Date
    21 April 2026
    Shares
    1,163
    Price
    $13.03
    Value
    $15,154
  • Larriera Andres Eduardo
    Director
    Sold
    Date
    21 April 2026
    Shares
    1,163
    Price
    $13.03
    Value
    $15,154
  • Deprati Christian Ferdinando Emilio
    Director
    Sold
    Date
    21 April 2026
    Shares
    1,163
    Price
    $13.03
    Value
    $15,154
  • Vaz Artigas Manuela
    Director
    Sold
    Date
    7 April 2026
    Shares
    1,000
    Price
    $15.03
    Value
    $15,030
  • BOSCH MARIANO
    Chief Executive Officer
    Sold
    Date
    19 March 2026
    Shares
    100,000
    Price
    $14.50
    Value
    $1m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

Adecoagro doesn’t file a US annual report (10-K), so we haven’t checked it.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.