Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) Analisi del titolo

Panoramica dell'azienda

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria operates primarily as an agricultural entity engaged in the production of agricultural commodities within Brazil and across other Latin American nations. The company's diversified operational model encompasses two distinct verticals: an Agricultural Business focused on commodity production and a Business Urban Properties and Investments sector dedicated to real estate holdings. This conglomerate is classified within the Industrials sector, specifically under the industry of Conglomerates, a classification that reflects its mixed revenue streams derived from both primary agricultural output and urban property assets. The total market capitalization stands at $852.62M, while the trailing twelve-month revenue reaches $1.02T, indicating a significant scale of operations despite the absence of specific employee count data in the provided records. The combination of a substantial revenue base exceeding one trillion dollars and a market cap of $852.62M suggests a company with a large operational footprint that generates significant cash flow before accounting for debt obligations, positioning it as a major player in the Latin American agricultural and real estate landscapes.

Salute finanziaria

The company reports a trailing twelve-month revenue of $1.02T and a net income of $195.70B, while the EBITDA figure stands at $205.69B. The substantial gap between the reported revenue of $1.02T and the net income of $195.70B reveals a high-cost structure where operating expenses, including cost of goods sold and administrative costs, consume approximately 80.8% of the top line before arriving at the bottom line. The free cash flow is recorded at -$180,016,742,400, which indicates a current state of negative liquidity generation where capital expenditures or operational cash outflows exceed the cash generated from core business activities. Despite the negative free cash flow, the company holds cash reserves of $720.09B, providing a massive buffer against short-term obligations and allowing for continued operational investment. The gross margin is 41.4%, reflecting the profitability of core production activities before overheads, while the operating margin sits at 24.3% and the profit margin at 19.2%, indicating that after all operational and financial expenses, the company retains roughly one-fifth of its revenue as net profit. When comparing total cash of $720.09B against total debt of $2.05T, the balance sheet appears heavily leveraged, a stance further quantified by a debt-to-equity ratio of 78.53, which signifies that liabilities are nearly eight times the shareholders' equity. The current ratio is 1.43, suggesting that for every dollar of current liabilities, the company holds $1.43 in current assets, indicating a comfortable but not excessive level of short-term liquidity. Furthermore, the return on equity is 21.0% and the return on assets is 2.3%, metrics that reveal management is generating significant returns on shareholder capital relative to the equity base, though the low return on assets reflects the capital-intensive nature of the high debt load and the sheer scale of the asset base.

Valutazione del valore

The trailing twelve-month P/E ratio is 5.68, whereas the forward P/E ratio is 114.76, a stark divergence that implies the market expects a significant expansion in future earnings or that current earnings are anomalously high due to one-time items. The price-to-book ratio stands at 0.98, indicating that the market values the company's equity at slightly less than its accounting book value, suggesting a lack of significant market premium over the net asset value. The price-to-sales ratio is 0.00, which is anomalous for a company with substantial revenue, likely due to the scale of the revenue figures relative to the share price, while the EV/EBITDA stands at 13.80, offering an enterprise value perspective that incorporates debt and cash in the valuation multiple. The stock has traded within a 52-week range defined by a high of $14.21 and a low of $8.19, meaning the current trading price sits at a level that requires calculation relative to these bounds to determine the exact percentage distance from the highs or lows. The beta value is 0.10, which indicates that the stock price exhibits very low volatility relative to the broader market, moving independently of general market fluctuations with minimal sensitivity to systemic risk.

Growth & Income

The revenue growth year-over-year is 20.3%, while the earnings growth year-over-year is 182.3%, demonstrating that earnings are expanding at a rate nearly nine times faster than revenue, which implies significant leverage effects or cost efficiencies driving profitability disproportionately to top-line expansion. As a dividend payer, the company offers a dividend yield of 5.2% with a payout ratio of 30.8%, suggesting that the dividend coverage is robust and the payout is sustainable given the high net income relative to the dividend distribution. The low payout ratio allows the company to retain the majority of its earnings for reinvestment into agricultural operations and property acquisitions rather than distributing all profits to shareholders. Overall, the growth and income profile is characterized by explosive earnings acceleration paired with a high-yield dividend supported by a conservative payout structure relative to current earnings.