Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) 股票分析

公司概述

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria operates as a diversified agricultural enterprise primarily engaged in the production of agricultural commodities across Brazil and other Latin American nations, while simultaneously managing its portfolio through Agricultural Business, Urban Properties, and Investments. The company is classified within the Industrials sector and specifically categorized under the Conglomerates industry, indicating a broad operational footprint that spans multiple distinct business lines rather than a single focused product offering. With a total market capitalization of $852.62M and annual revenue reaching $1.02T, the firm represents a significant economic entity, though the absence of reported employee data suggests a structure that may rely on significant capital intensity or outsourced operations rather than a traditionally large internal workforce. The substantial revenue figure of $1.02T, which is exceptionally high relative to its market cap, indicates a company that commands a massive volume of sales but trades at a valuation that does not directly correlate to its top-line scale in the same manner as typical industrial peers, reflecting specific market dynamics or accounting structures unique to its conglomerate status.

财务健康

The company reports revenue of $1.02T over the trailing twelve months, with net income of $195.70B and EBITDA of $205.69B, revealing a cost structure where expenses consume a significant portion of the massive revenue stream to arrive at the reported net income. The gap between the $1.02T revenue and the $195.70B net income highlights the operational costs and taxes associated with generating such a large volume of agricultural and property-related income, while the EBITDA figure of $205.69B suggests operating leverage before interest and non-cash charges. However, the free cash flow stands at -$180,016,742,400, indicating that despite high earnings, the company is currently burning cash, which implies limited immediate financial flexibility for internal reinvestment without external financing or asset sales. The balance sheet shows a cash position of $720.09B against total debt of $2.05T, resulting in a debt-to-equity ratio of 78.53, which characterizes the entity as highly leveraged given that debt significantly outweighs equity. The current ratio of 1.43 indicates that the company holds sufficient current assets to cover its short-term liabilities, suggesting a reasonable level of short-term liquidity despite the heavy debt load. Return on Equity is recorded at 21.0%, demonstrating that management is generating substantial returns for shareholders on the equity base, while Return on Assets sits at 2.3%, which reveals that the massive asset base, implied by the conglomerate structure, is being utilized less efficiently on a per-dollar basis compared to the equity returns.

估值评估

The trailing twelve-month P/E ratio is 5.68, while the forward P/E is 114.76, a stark divergence that implies market expectations for future earnings growth are significantly different from current profitability, or that the forward earnings estimate is heavily adjusted for anticipated changes in the business model. The price-to-book ratio is 0.98, indicating that the stock trades at a slight discount to its book value, suggesting the market does not currently assign a significant premium to the company's assets relative to their accounting value. The price-to-sales ratio is listed as 0.00, and the EV/EBITDA stands at 13.80, which together suggest that traditional valuation metrics based on sales are not applicable or are distorted, while the EV/EBITDA provides an alternative perspective on enterprise value relative to operating cash generation. The 52-week high is $14.21 and the 52-week low is $8.19, placing the current trading environment within a range that reflects the stock's recent volatility and investor sentiment shifts over the last year. The beta value of 0.10 indicates that the stock exhibits extremely low price volatility relative to the broader market, moving with very little sensitivity to general market fluctuations.

Growth & Income

Revenue growth year-over-year is 20.3%, while earnings growth year-over-year is 182.3%, demonstrating that profitability is expanding at a rate far exceeding revenue expansion, which implies significant leverage effects or cost efficiencies are being realized as the company scales. As a dividend payer with a dividend yield of 5.2% and a payout ratio of 30.8%, the company distributes a sustainable portion of its earnings to shareholders, as the payout ratio remains well below 100%, indicating that the dividend is covered comfortably by current earnings. The low payout ratio combined with the high earnings growth suggests that the company retains a majority of its profits for reinvestment into its agricultural and urban property operations rather than focusing solely on dividend maximization. Overall, Cresud presents a profile characterized by exceptional earnings acceleration and a robust dividend yield, supported by a balance sheet that manages high leverage while maintaining a conservative current ratio and strong equity returns.