회사 개요
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas is engaged in the acquisition, development, exploration, and sale of agricultural properties across Brazil, Paraguay, and Bolivia, utilizing a diversified operational model that spans multiple asset classes. The company operates within the Consumer Defensive sector, specifically under the Farm Products industry, which categorizes it as a business providing essential agricultural goods and real estate services that are generally less sensitive to economic downturns compared to cyclical industries. Its market capitalization stands at $416.39M, and the company generated annual revenue of $965.21M in the trailing twelve months, though the number of employees is not disclosed in the available data. These financial figures indicate that the entity holds a mid-tier market position within the agricultural real estate space, possessing substantial revenue generation capabilities despite its relatively modest market capitalization, suggesting a business model where asset value may drive valuation more than earnings multiples.
재무 건전성
The company reported a revenue of $965.21M over the trailing twelve months, yet it recorded a net income of $-1,577,000 and an EBITDA of $-93,735,000, revealing a significant divergence between top-line sales and bottom-line profitability. This gap between revenue and net income, further evidenced by the negative EBITDA, indicates a challenging cost structure where operating expenses and interest obligations exceed gross profit margins, preventing the conversion of sales into operating cash. The company's free cash flow stands at $-175,079,248, which signifies a substantial cash outflow that severely limits its current financial flexibility for capital expenditures or strategic acquisitions without external financing. Profitability metrics are underperforming with a gross margin of 4.4%, an operating margin of -8.4%, and a profit margin of -0.2%, suggesting that the company struggles to cover its variable and fixed costs effectively relative to its sales volume. Liquidity and leverage analysis shows the company holds $54.65M in cash against $1.32B in debt, resulting in a debt-to-equity ratio of 63.66, which characterizes the balance sheet as highly leveraged rather than conservative. Short-term liquidity is supported by a current ratio of 1.61, indicating that current assets are more than sufficient to cover current liabilities, providing a buffer against immediate operational obligations. Return metrics reflect management challenges, with a return on equity of -0.1% and a return on assets of -1.3%, demonstrating that the company is currently destroying shareholder value and utilizing its asset base inefficiently.
밸류에이션 평가
Trailing and forward P/E ratios are not available (N/A) due to the company's net loss position, meaning traditional earnings-based valuation multiples cannot be applied to assess expected earnings trajectory or growth expectations. Instead, valuation relies on asset-based metrics, where the price-to-book ratio is 1.04, indicating that the stock trades at a slight premium over its book value despite the lack of positive earnings generation. Alternative valuation metrics provide further context, with a price-to-sales ratio of 0.43 and an EV/EBITDA of -17.97, suggesting that the market is pricing the company primarily on its underlying asset holdings rather than its current income-generating capacity. The stock's price volatility is measured by a beta of 0.16, which implies that the share price is significantly less volatile than the broader market, moving with a dampened sensitivity to general market fluctuations. Regarding price levels, the 52-week high is recorded at $4.45 and the 52-week low at $3.47; without a specific current share price provided in the data, the precise trading position relative to this range cannot be calculated, but the valuation spread between these extremes highlights the recent trading uncertainty surrounding the asset.
Growth & Income
Revenue growth is positive at 24.8% year-over-year, while earnings growth is not applicable (N/A) due to the company's net loss, indicating that top-line expansion is currently occurring without corresponding improvement in profitability or earnings per share. The company functions as a dividend payer with a dividend yield of 3.4%, supported by a payout ratio of 112.4%, which suggests that the dividend is being funded from cash reserves rather than earnings and may not be sustainable long-term given the negative net income and negative free cash flow profile. This high payout ratio relative to earnings implies that the company is returning capital to shareholders while simultaneously investing heavily in operations, creating a tension between income generation and capital preservation. Overall, the growth and income profile presents a mixed picture of strong revenue expansion in the agricultural property sector offset by structural profitability issues and a dividend policy that relies on cash flow rather than earnings retention.