Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) 주식 분석

회사 개요

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) operates as an agricultural conglomerate engaged in the production of agricultural commodities across Brazil and other Latin American nations, alongside managing urban properties and investments. The company functions within the Industrials sector, specifically categorized under Conglomerates, which signifies its diversified operational scope spanning both agricultural output and real estate holdings. With a market capitalization of $852.62M and reported annual revenue of $1.02T, the firm demonstrates significant scale within the regional market. Although specific employee count data is not publicly disclosed in the available facts, the substantial revenue figure of $1.02T suggests a large operational footprint capable of generating trillions in turnover. The combination of a market cap exceeding $850 million and revenue reaching $1.02 trillion indicates a massive economic entity where revenue figures likely encompass consolidated subsidiary activities, placing Cresud as a dominant player in the Latin American agricultural and property sectors.

재무 건전성

The company reports a trailing twelve-month (TTM) revenue of $1.02T, a net income of $195.70B, and an EBITDA of $205.69B, highlighting a substantial gap between top-line revenue and bottom-line earnings that reveals a significant cost structure involving operational expenses, taxes, and interest costs. While the net income figure of $195.70B appears mathematically inconsistent with a revenue of $1.02T given the reported profit margin, the stated data points define the current financial snapshot. The free cash flow stands at $-180,016,742,400, indicating a severe cash outflow that constrains the company's financial flexibility and suggests heavy capital expenditures or working capital requirements that exceed cash generation from operations. Profitability analysis shows a gross margin of 41.4%, an operating margin of 24.3%, and a profit margin of 19.2%, indicating that for every dollar of sales, the company retains 41.4 cents at the gross level, 24.3 cents after operating expenses, and 19.2 cents as final profit. Liquidity assessment reveals the company holds $720.09B in cash against total debt of $2.05T, resulting in a debt-to-equity ratio of 78.53, which characterizes a highly leveraged balance sheet where liabilities significantly exceed equity and cash reserves. Despite the high debt load, the current ratio is 1.43, indicating that the company possesses sufficient current assets to cover its short-term liabilities with a 43% buffer. Return metrics show a return on equity of 21.0% and a return on assets of 2.3%, revealing that while management is highly effective at generating returns on shareholders' equity, the overall efficiency of assets in generating profit is relatively low when spread across the massive asset base.

밸류에이션 평가

Valuation metrics indicate a trailing P/E ratio of 5.68 contrasted with a forward P/E of 114.76, implying a massive divergence where the market prices in extremely high future earnings growth expectations that are not reflected in current profitability. The price-to-book ratio is 0.98, suggesting the stock trades slightly below its book value and does not command a significant market premium over the net asset value of the company. Alternative valuation measures include a price-to-sales ratio of 0.00 and an EV/EBITDA of 13.80, suggesting that traditional sales-based valuation is not applicable or zero, while the enterprise value relative to earnings before interest, taxes, depreciation, and amortization remains in a moderate single-digit multiple range. Price momentum is defined by a 52-week high of $14.21 and a 52-week low of $8.19, meaning the current trading price sits within this established historical range, though the specific current price is not listed to calculate an exact percentage deviation from the high or low. Risk assessment utilizes a beta value of 0.10, which indicates that the stock price volatility is significantly lower than the broader market, acting as a defensive position that moves less than 10% as much as the market index in response to general market fluctuations.

Growth & Income

Growth dynamics are characterized by a revenue growth rate of 20.3% year-over-year and an earnings growth rate of 182.3% year-over-year, demonstrating that earnings are expanding at a pace nearly nine times faster than revenue, which implies potential one-time gains, non-recurring income, or significant leverage effects driving profitability disproportionately higher than top-line expansion. For dividend payers, the company offers a dividend yield of 5.2% with a payout ratio of 30.8%, indicating that the dividend is supported by a conservative payout level that leaves ample room for reinvestment or to sustain payments even if earnings growth moderates. The disparity between the massive earnings growth and the moderate payout ratio suggests the company retains a significant portion of its growing profits rather than distributing them fully to shareholders. Overall, the growth and income profile presents a company with explosive earnings acceleration and a high-yielding dividend, though the severe negative free cash flow and high leverage present structural risks that investors must weigh against the impressive percentage growth figures.