Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) Análisis de acciones

Descripción de la empresa

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria operates as a diversified conglomerate within the Industrials sector, specifically focusing on the production of agricultural commodities in Brazil and other Latin American countries through its Agricultural Business unit, alongside operations in Business Urban Properties and Investments. This positioning within the Conglomerates industry allows the entity to leverage multiple revenue streams across different economic cycles, though the specific implications of diversification are not explicitly detailed in the available data. The company demonstrates significant scale with a market capitalization of $866.06M and an annual revenue of $1.02T, though the available facts list the employee count as N/A. The substantial revenue figure of $1.02T relative to the market cap suggests a valuation environment where the stock price is priced significantly lower than the total sales volume, indicating either a high degree of operational efficiency that suppresses share price multiples or potential structural issues reflected in the price-to-sales ratio of 0.00.

Salud financiera

The company reports a trailing twelve-month revenue of $1.02T and a net income of $195.70B, resulting in an EBITDA of $205.69B; the gap between the massive revenue figure and the net income reveals a cost structure that retains nearly 19.2% of revenue as profit after all expenses, taxes, and interest. However, the free cash flow stands at $-180,016,742,400, indicating that despite generating substantial earnings, the company is currently burning cash, which severely limits its financial flexibility for capital expenditures or debt repayment without external financing. Profitability is supported by a gross margin of 41.4%, an operating margin of 24.3%, and a profit margin of 19.2%, where the operating margin indicates that overhead and administrative costs consume roughly 75.7% of gross profit before reaching the bottom line. The balance sheet presents a leveraged profile with total debt of $2.05T against a cash position of $720.09B, resulting in a debt-to-equity ratio of 78.53%, which signifies a heavily indebted structure reliant on equity financing to cover obligations. Liquidity is maintained at a current ratio of 1.43, suggesting that the company holds 1.43 units of current assets for every unit of current liabilities, providing a moderate buffer against short-term obligations. Return metrics show a return on equity of 21.0% and a return on assets of 2.3%, revealing that management is highly effective at generating returns on shareholder capital while the low ROA reflects the capital-intensive nature of holding $2.05T in assets relative to the asset base.

Evaluación de valoración

The valuation metrics present a distinct divergence between historical and future expectations, with a trailing P/E ratio of 5.75 compared to a forward P/E of 116.57, implying that the market expects a dramatic increase in earnings that would justify a much higher multiple in the coming period. The price-to-book ratio is listed at 1.00, indicating that the stock trades at exactly its book value, which suggests no market premium or discount relative to the net asset value of the company. Alternative valuation metrics include a price-to-sales ratio of 0.00 and an EV/EBITDA of 13.80, where the zero price-to-sales figure highlights that the current share price does not correlate with the reported revenue base, potentially signaling accounting adjustments or market skepticism regarding future sales realization. Price volatility is contained within a 52-week range of $8.19 to $14.21, meaning the current trading price sits somewhere between these extremes, with the low end representing the minimum valuation observed over the last year. The beta value of 0.10 indicates that the stock exhibits extremely low volatility relative to the broader market, moving only one-tenth as much as the market index, which classifies it as a defensive asset with minimal price sensitivity to macroeconomic fluctuations.

Growth & Income

Growth dynamics are characterized by a revenue growth of 20.3% year-over-year and an earnings growth of 182.3% year-over-year, demonstrating that earnings are expanding at a rate nearly nine times faster than revenue, which implies significant cost synergies, asset write-downs, or non-recurring income boosting the bottom line disproportionately. As a dividend payer, the company offers a dividend yield of 5.1% with a payout ratio of 30.8%, suggesting that the dividend payments are sustainable as they cover only about one-third of the generated earnings, leaving ample room for retention. Given the massive earnings growth and the current cash flow situation, the company likely reinvests a significant portion of its earnings into its agricultural and urban property operations rather than distributing the full extent of its profits. The overall growth and income profile combines aggressive earnings expansion with a moderate, sustainable dividend yield, supported by a low-beta characteristic that mitigates price risk for income-focused investors.