Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) Analyse boursière

Présentation de l'entreprise

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria operates as a diversified agricultural entity focused on the production of agricultural commodities across Brazil and various other Latin American nations. The company's operational scope spans two primary verticals: Agricultural Business and Business Urban Properties and Investments, positioning it within the Industrials sector under the broader classification of Conglomerates. As of the latest data, the enterprise holds a market capitalization of $885.16M and reports a Trailing Twelve Months (TTM) revenue of $1.02T, while the employee count is listed as N/A. These valuation and revenue figures suggest a significant operational scale, although the disparity between the market cap and the reported revenue magnitude warrants scrutiny regarding how the market values the conglomerate's specific asset classes versus its consolidated top-line performance.

Santé financière

The financial performance indicators for the Trailing Twelve Months show a Revenue of $1.02T, a Net Income of $195.70B, and an EBITDA of $205.69B. The substantial gap between the reported revenue of $1.02T and the net income of $195.70B indicates a consolidated gross margin of 41.4%, which implies that the cost of goods sold consumes a significant portion of the top line before operating expenses are deducted. The company reports a Free Cash Flow of $-180,016,742,400, a negative figure that suggests current cash outflows exceed operational cash generation, potentially impacting immediate financial flexibility for capital allocation or debt servicing. Profitability analysis reveals a Gross Margin of 41.4%, an Operating Margin of 24.3%, and a Profit Margin of 19.2%, where the progression from operating to profit margin highlights the impact of non-operating expenses, taxes, or interest costs on the final bottom line. Regarding liquidity and leverage, the company holds Cash of $720.09B against total Debt of $2.05T, resulting in a Debt to Equity ratio of 78.53, which characterizes a highly leveraged balance sheet where debt obligations are substantial relative to shareholder equity. Short-term liquidity is assessed via a Current Ratio of 1.43, indicating that the company possesses sufficient current assets to cover its current liabilities with a margin of safety above 1:1. Return metrics demonstrate a Return on Equity of 21.0% and a Return on Assets of 2.3%, where the high ROE suggests efficient generation of returns on shareholders' capital despite the low ROA, which reflects the heavy asset base or high leverage inherent in the conglomerate structure.

Évaluation de la valorisation

Valuation multiples for Cresud indicate a Trailing P/E Ratio (TTM) of 5.87 compared to a Forward P/E of 119.14, a massive discrepancy that implies the market expects a dramatic shift in earnings trajectory or that the current earnings are not reflective of future profitability expectations. The Price to Book ratio stands at 1.02, suggesting the stock is trading at a value nearly equal to its net asset value, indicating no significant market premium over the book value of the company's equity. 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 combined with the low trailing P/E suggests the market is pricing in significant earnings quality issues or one-time gains that inflate current net income. The stock's recent trading range is defined by a 52-Week High of $14.21 and a 52-Week Low of $8.19, placing the current valuation context within this historical band where the price-to-sales metric of 0.00 further complicates standard relative valuation comparisons. The Beta is recorded at 0.10, a figure that indicates the stock exhibits extremely low volatility relative to the broader market, moving in a direction that is largely decoupled from general equity market fluctuations.

Growth & Income

Growth metrics for the year-over-year period show a Revenue Growth of 20.3% and an Earnings Growth of 182.3%, demonstrating that earnings are expanding at a rate significantly faster than revenue, which often points to leverage effects, one-time income events, or a shift in the mix of more profitable business segments. As a dividend payer, the company offers a Dividend Yield of 5.0% with a Payout Ratio of 30.8%, a payout level that appears sustainable given the reported Earnings Growth of 182.3%, as the payout consumes a small fraction of the rapidly expanding net income. The combination of high revenue growth and exceptional earnings growth alongside a moderate payout ratio suggests a growth-oriented dividend profile where capital retention supports expansion while rewarding shareholders. Overall, Cresud presents a financial profile characterized by high leverage, low volatility, and a unique divergence between current earnings and revenue scales that requires careful interpretation by analysts reviewing the conglomerate's financial statements.