Operating margins have exhibited extreme volatility, swinging from a negative 76.2% in 2025Q1 to a peak of 93.9% in 2025Q4, reflecting the heavy influence of non-operating fair value adjustments.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 |
|---|
| Sales/Revenue | 1.11T | 914.16B | 711.37B | 707.41B | 767.7B | 149.93B | 82.24B | 47.53B | 93.27B | 67.91B | 15.62B | 5.65B | 4.6B | 3.53B | 2.86B | 2.54B | 1.88B | 1.43B | 345.42M | 208.26M | 177.89M | 145.62M | 69.89M | 72.34M | 72.67M | 34.8M | 35.13M | 43.61M | 52.96M |
| Revenue Growth % | 17.34% | 28.51% | 0.56% | -7.85% | 412.04% | 82.3% | 73.04% | -49.04% | 37.34% | 334.69% | 176.4% | 22.76% | 30.48% | 23.38% | 12.58% | 34.95% | 31.89% | 313.17% | 65.86% | 17.07% | 22.16% | 108.36% | -3.39% | -0.45% | 108.85% | -0.95% | -19.44% | -17.67% | - |
| Cost of Goods Sold | 637.9B | 553.46B | 419.82B | 599.93B | 427.61B | 121.69B | 47.24B | 23.55B | 59.87B | 42.7B | 8.77B | 3.3B | 2.78B | 2.22B | 1.76B | 1.49B | 994.13M | 851.19M | 259.75M | 171.07M | 159.19M | 126.65M | 45.26M | 51.32M | 40.23M | 27.16M | 27.79M | 41.81M | 35.97M |
| COGS % of Revenue | - | 60.54% | 59.02% | 84.81% | 55.7% | 81.16% | 57.44% | 49.54% | 64.19% | 62.89% | 56.15% | 58.42% | 60.34% | 62.97% | 61.56% | 58.51% | 52.81% | 59.64% | 75.2% | 82.14% | 89.49% | 86.97% | 64.75% | 70.94% | 55.36% | 78.06% | 79.12% | 95.88% | 67.92% |
| Gross Profit | 467.81B | 360.7B | 291.55B | 386.35B | 340.1B | 28.24B | 35B | 23.98B | 33.39B | 25.2B | 6.85B | 2.35B | 1.83B | 1.31B | 1.1B | 1.05B | 888.22M | 575.98M | 85.67M | 37.19M | 18.7M | 18.97M | 24.63M | 21.02M | 32.44M | 7.63M | 7.33M | 1.8M | 16.99M |
| Gross Margin % | 42.31% | 39.46% | 40.98% | 54.61% | 44.3% | 18.84% | 42.56% | 50.46% | 35.81% | 37.11% | 43.85% | 41.58% | 39.66% | 37.03% | 38.44% | 41.49% | 47.19% | 40.36% | 24.8% | 17.86% | 10.51% | 13.03% | 35.25% | 29.06% | 44.64% | 21.94% | 20.88% | 4.12% | 32.08% |
| Gross Profit Growth % | - | 23.72% | -24.54% | 13.6% | 1104.19% | -19.3% | 45.94% | -28.18% | 32.5% | 267.87% | 191.53% | 28.7% | 39.76% | 18.85% | 4.3% | 18.67% | 54.21% | 572.33% | 130.36% | 98.84% | -1.4% | -23% | 17.18% | -35.2% | 324.98% | 4.07% | 308.53% | -89.43% | - |
| Operating Expenses | -126.82B | 139.75B | 427.79B | 515.18B | -6.13B | -6.84B | -72.95B | 65.69B | 1.54B | 21.06B | -12.75B | -3.4B | 640M | 200.19M | 452.34M | 326.89M | 301.25M | 360.58M | 42.06M | 46.16K | 7.58M | -17.27M | 6.76M | -6.78M | 19.35M | 6.82M | 10.32M | 10.66M | 11.36M |
| OpEx % of Revenue | - | 15.29% | 60.14% | 72.83% | -0.8% | -4.56% | -88.7% | 138.21% | 1.65% | 31.01% | -81.6% | -60.08% | 13.9% | 5.67% | 15.82% | 12.87% | 16% | 25.27% | 12.18% | 0.02% | 4.26% | -11.86% | 9.67% | -9.37% | 26.63% | 19.59% | 29.39% | 24.45% | 21.44% |
| Selling, General & Admin | 212.62B | 173.88B | 106.21B | 117.75B | 95.86B | 23B | 11.33B | 8.42B | 22.17B | 16.4B | 3.7B | 1B | 834M | 573.03M | 482.39M | 432.22M | 459.13M | 347.15M | 40.6M | 31.35M | 25.58M | 22.39M | 14.26M | 10.41M | 16.58M | 8.75M | 8.64M | 9.12M | 9.97M |
| SG&A % of Revenue | - | 19.02% | 14.93% | 16.65% | 12.49% | 15.34% | 13.77% | 17.71% | 23.77% | 24.14% | 23.67% | 17.78% | 18.11% | 16.24% | 16.87% | 17.01% | 24.39% | 24.32% | 11.75% | 15.05% | 14.38% | 15.38% | 20.4% | 14.39% | 22.82% | 25.13% | 24.58% | 20.92% | 18.82% |
| Research & Development | 11.35B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -2M | -34.13B | 321.58B | 397.43B | -101.99B | -29.84B | -84.28B | 57.28B | -20.63B | 4.66B | -16.44B | -4.4B | -194M | -372.83M | -30.05M | -105.34M | -157.88M | 13.43M | 1.46M | -31.31M | -17.99M | -39.67M | -7.5M | -17.19M | 2.77M | -1.93M | 1.69M | 1.54M | 1.39M |
| Operating Income | 594.63B | 220.94B | -136.24B | -128.84B | 346.23B | 35.08B | 107.95B | -41.71B | 31.86B | 4.15B | 19.6B | 5.75B | 1.19B | 1.11B | 646.96M | 727.13M | 586.97M | 215.4M | 43.61M | 37.14M | 11.12M | 36.24M | 17.87M | 27.8M | 13.09M | 818.51K | -2.99M | -8.87M | 5.63M |
| Operating Margin % | 53.78% | 24.17% | -19.15% | -18.21% | 45.1% | 23.4% | 131.26% | -87.76% | 34.16% | 6.11% | 125.45% | 101.66% | 25.76% | 31.35% | 22.62% | 28.62% | 31.18% | 15.09% | 12.63% | 17.83% | 6.25% | 24.89% | 25.57% | 38.43% | 18.01% | 2.35% | -8.51% | -20.34% | 10.64% |
| Operating Income Growth % | - | 262.18% | -5.74% | -137.21% | 886.85% | -67.5% | 358.81% | -230.93% | 668.19% | -78.84% | 241.07% | 384.49% | 7.2% | 71.01% | -11.03% | 23.88% | 172.5% | 393.91% | 17.42% | 234.04% | -69.32% | 102.78% | -35.71% | 112.34% | 1499.36% | 127.37% | 66.28% | -257.38% | - |
| EBITDA | 612.88B | 231.48B | -125.66B | -118.85B | 356.12B | 38.03B | 112.78B | -40.98B | 41.6B | 11.99B | 21.14B | 5.86B | 1.48B | 1.39B | 880.09M | 851.85M | 722.96M | 303M | 50.09M | 41.5M | 16.24M | 40.41M | 21.82M | 31.37M | 16.72M | 2.51M | -1.3M | -7.33M | 7.02M |
| EBITDA Margin % | 55.43% | 25.32% | -17.66% | -16.8% | 46.39% | 25.36% | 137.13% | -86.21% | 44.6% | 17.65% | 135.34% | 103.64% | 32.21% | 39.28% | 30.77% | 33.53% | 38.41% | 21.23% | 14.5% | 19.93% | 9.13% | 27.75% | 31.22% | 43.37% | 23.01% | 7.2% | -3.7% | -16.8% | 13.26% |
| EBITDA Growth % | 317.87% | 284.21% | -5.73% | -133.37% | 836.44% | -66.28% | 375.25% | -198.5% | 247.05% | -43.31% | 260.93% | 295.01% | 6.99% | 57.49% | 3.32% | 17.83% | 138.6% | 504.96% | 20.69% | 155.59% | -59.82% | 85.17% | -30.44% | 87.62% | 567.12% | 292.77% | 82.25% | -204.32% | - |
| D&A (Non-Cash Add-back) | 18.25B | 10.53B | 10.57B | 9.99B | 9.89B | 2.94B | 4.83B | 735M | 9.74B | 7.84B | 1.54B | 112M | 297M | 279.74M | 233.14M | 124.72M | 135.99M | 87.59M | 6.47M | 4.36M | 5.12M | 4.17M | 3.95M | 3.57M | 3.63M | 1.69M | 1.69M | 1.54M | 1.39M |
| EBIT | 285.26B | 152.02B | 93.01B | 103.73B | 13.12B | 89.91B | 99.2B | -55.01B | 406M | 10.36B | 16.77B | 4.51B | -1.08B | 661.25M | 490.26M | 797.87M | 698.01M | 215.4M | 23.5M | 37.14M | 11.12M | 36.24M | 17.87M | 27.8M | 13.09M | 818.51K | -2.99M | -8.87M | 5.63M |
| Net Interest Income | -133.58B | -54.8B | -22.62M | -121.45M | -90.9B | -40.51B | -21.44B | -9.4B | -19.07B | -13.18B | -2.71B | -914M | -685M | -470.72M | -429.16M | -271.85M | -158.53M | -1.1M | 4.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 11.22B | 9.08M | 147.66M | 12.18M | 21.75B | 8.06B | 2.08B | 289M | 321M | 552M | -27M | -40M | 30M | 72.81M | 22.6M | 19.01M | 23.28M | 13.66M | 4.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 144.79B | 54.8B | 170.28M | 133.63M | 112.67B | 48.57B | 23.51B | 9.69B | 19.39B | 13.74B | 2.69B | 874M | 715M | 473.46M | 409.82M | 290.85M | 181.81M | 93K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -122.29B | 74.47B | 168.34B | 96.03B | 174.19B | 6.26B | -32.26B | -22.98B | -50.84B | -7.53B | -5.51B | -2.11B | -2.98B | -918.58M | -566.52M | -220.11M | -70.77M | 96.11M | -20.11M | 19.55M | 27.34M | 78.21M | 22.8M | 48.24M | -45.91M | 5.07M | 4.37M | 9.93M | 13.27M |
| Pretax Income | 472.34B | 295.41B | 32.11B | 20.28B | 520.42B | 41.34B | 75.69B | -64.69B | -18.98B | -3.38B | 14.09B | 3.64B | -1.8B | 187.78M | 80.44M | 507.02M | 516.2M | 311.51M | 23.5M | 56.69M | 38.46M | 114.45M | 40.67M | 76.03M | -32.82M | 5.89M | 1.38M | 1.06M | 18.91M |
| Pretax Margin % | 42.72% | 32.32% | 4.51% | 2.87% | 67.79% | 27.58% | 92.03% | -136.11% | -20.36% | -4.98% | 90.17% | 64.38% | -39.05% | 5.32% | 2.81% | 19.96% | 27.42% | 21.83% | 6.8% | 27.22% | 21.62% | 78.59% | 58.19% | 105.11% | -45.16% | 16.92% | 3.92% | 2.43% | 35.7% |
| Income Tax | 101.53B | 71.05B | -61.87B | -270.18B | 15.83B | 98.77B | 19.59B | 820M | -9.96B | 1.83B | 5.79B | 1.4B | -389M | 33.52M | 21.96M | 110.07M | 145.95M | 92.68M | 284K | 8.18M | 5.44M | 37.77M | 8.6M | 10.66M | 7.78M | 2.05M | 22.37K | 18K | 38.76K |
| Effective Tax Rate % | 21.49% | 24.05% | -192.7% | -1332.38% | 3.04% | 238.9% | 25.89% | -1.27% | 52.48% | -54.23% | 41.07% | 38.36% | 21.64% | 17.85% | 27.3% | 21.71% | 28.27% | 29.75% | 1.21% | 14.44% | 14.14% | 33% | 21.14% | 14.01% | -23.7% | 34.87% | 1.62% | 1.7% | 0.21% |
| Net Income | 185.66B | 96.15B | 78.46B | 162.99B | 297.05B | -44.43B | 9.68B | -40.25B | 6.11B | -624M | 5.17B | 954M | -1.07B | -26.91M | -21.33M | 221.93M | 185.41M | 124.62M | 22.95M | 48.24M | 32.92M | 76.77M | 32.21M | 65.38M | -40.6M | 3.83M | 1.35M | 1.04M | 18.87M |
| Net Margin % | 16.79% | 10.52% | 11.03% | 23.04% | 38.69% | -29.64% | 11.77% | -84.68% | 6.55% | -0.92% | 33.08% | 16.88% | -23.2% | -0.76% | -0.75% | 8.74% | 9.85% | 8.73% | 6.64% | 23.16% | 18.51% | 52.72% | 46.09% | 90.38% | -55.87% | 11.02% | 3.86% | 2.39% | 35.63% |
| Net Income Growth % | 57.5% | 22.54% | -51.86% | -45.13% | 768.54% | -559.11% | 124.05% | -759.15% | 1078.53% | -112.08% | 441.61% | 189.33% | -3869.23% | -26.15% | -109.61% | 19.7% | 48.78% | 443.04% | -52.43% | 46.53% | -57.12% | 138.31% | -50.73% | 261.03% | -1158.83% | 183.1% | 30.14% | -94.48% | - |
| Net Income (Continuing) | 370.81B | 224.37B | 93.98B | 290.46B | 504.59B | -57.43B | 56.1B | -65.51B | -9.02B | -5.21B | 8.3B | 2.24B | -1.41B | 154.26M | 58.48M | 396.95M | 370.25M | 218.83M | 23.21M | 48.24M | 32.92M | 76.77M | 32.21M | 65.38M | -40.6M | 3.83M | 1.35M | 1.04M | 18.87M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | -29.19B | 0 | 4.33B | 36.44B | 8.84B | 817M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.51T | 1.24T | 867.67B | 1.02T | 268.37B | 120.44B | 145.68B | 103.16B | 86.21B | 32.77B | 23.54B | 6.53B | 5.73B | 2.21B | 2.13B | 2.48B | 1.63B | 1.44B | 1.16M | 817.8K | 560.49K | 276.83K | 65.67K | 207.83K | 393.63K | 243K | 59.42K | 0 | 2.02M |
| EPS (Diluted) | 2899.39 | 1.40 | 1118.00 | 2379.40 | 4374.80 | -808.80 | 79.60 | -739.60 | 114.50 | -11.80 | 93.20 | 15.60 | -19.30 | -0.45 | 1.20 | 3.40 | 3.00 | 1.90 | 0.51 | 1.30 | 1.10 | 2.10 | 0.82 | 1.60 | -2.80 | 0.27 | 0.09 | 0.08 | 1.30 |
| EPS Growth % | 51.18% | -99.87% | -53.01% | -45.61% | 640.9% | -1116.08% | 110.76% | -745.94% | 1070.34% | -112.66% | 497.44% | 180.83% | -4188.89% | -137.5% | -64.71% | 13.33% | 57.89% | 272.55% | -60.77% | 18.18% | -47.62% | 156.1% | -48.75% | 157.14% | -1137.04% | 190.32% | 22.37% | -94.15% | - |
| EPS (Basic) | - | 1.50 | 1324.40 | 2707.50 | 4877.70 | -808.80 | 82.10 | -739.60 | 119.10 | -11.80 | 94.50 | 17.60 | -19.30 | -0.45 | 1.40 | 3.80 | 3.40 | 2.20 | 0.51 | 1.60 | 1.60 | 4.10 | 1.90 | 4.50 | -2.80 | 0.27 | 0.09 | 0.08 | 1.30 |
| Diluted Shares Outstanding | 64.03M | 66.2M | 70.2M | 69.18M | 68.57M | 54.4M | 53.13M | 53.12M | 53.3M | 52.77M | 55.48M | 61.22M | 55.24M | 55.3M | 62.95M | 62.95M | 61.82M | 64.54M | 45.7M | 38.1M | 30M | 38.1M | 39.33M | 40.59M | 14.2M | 14.19M | 14.19M | 14.74M | 14.74M |
| Basic Shares Outstanding | 64.03M | 66.21M | 59.2M | 68.5M | 67.9M | 54.94M | 51.5M | 51.54M | 51.26M | 52.77M | 54.7M | 54.37M | 55.24M | 55.3M | 55.93M | 55.93M | 54.8M | 57.52M | 43.7M | 29.31M | 20.53M | 18.42M | 16.27M | 14.51M | 14.2M | 14.19M | 14.19M | 14.74M | 14.74M |
| Dividend Payout Ratio | - | 0.09% | 157.52% | 99.98% | 22.42% | - | 26.37% | - | 15.39% | - | 4.63% | 3.56% | - | - | - | 31.09% | 32.36% | 34.56% | 35.95% | 11.14% | 30.41% | 3.91% | 4.67% | 2.64% | - | 33.56% | 811.87% | 362.6% | - |
Hyperinflationary Macroeconomic Volatility
According to the provided financial data, CRESY's revenue growth has exhibited significant quarterly fluctuations, ranging from a 152.6% surge in 2025Q2 to a 12.9% contraction in 2025Q4, suggesting that top-line performance is heavily influenced by lumpy asset disposals and the complex impact of hyperinflationary accounting adjustments.
The erratic revenue trajectory appears to reflect the company's dual-segment reliance on transactional land sales and recurring urban rental income. Investors should monitor whether these growth swings represent genuine operational scaling or merely the accounting translation of assets within a highly volatile Argentine inflationary environment.
As reported in the income statement history, gross margins have fluctuated between 29.1% and 56.3%, indicating that the company's ability to maintain profitability is highly sensitive to the specific mix of agricultural commodity cycles and urban property occupancy rates realized during any given reporting period.
The wide variance in gross margins suggests that CRESY lacks consistent pricing power in its agricultural segment, where it acts as a price-taker. The compression observed in periods like 2025Q1 warrants further investigation into whether rising input costs are outpacing the company's ability to adjust rental rates in its urban portfolio.
Based on the reported figures, operating margins have swung from a negative 76.2% to a positive 93.9%, demonstrating that operating leverage is currently obscured by significant non-operating fair value adjustments and the inherent volatility of the company's diverse asset-heavy business model rather than pure operational efficiency.
The extreme swings in operating income suggest that traditional operating leverage metrics may be misleading for this conglomerate. Analysts should focus on the underlying SG&A discipline, which appears to be managed with relative consistency despite the massive fluctuations in the broader income statement line items.
As highlighted by the historical data, the company's net income has frequently decoupled from operational performance, with EPS volatility—such as the shift from 1426.10 in 2024Q4 to -315.50 in 2025Q2—suggesting that reported earnings may not be a reliable indicator of long-term shareholder value creation.
Short-sellers would likely focus on the reliance on non-cash fair value gains to bolster the bottom line during periods of agricultural or real estate stagnation. The persistent risk of 'trapped cash' due to local currency controls implies that reported net income may significantly overstate the liquidity available for distribution to shareholders.
Quick answers to the most common questions about buying CRESY stock.
For fiscal year 2025, Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) reported total revenue of $914.16B. This represents a 1725948.2% increase compared to $53.0M in 1998.
Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) is profitable, generating $96.15B in net income for the fiscal year ending 2025 with a net profit margin of 10.5%.
Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) reported an operating income of $220.94B, resulting in an operating profit margin of 24.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) generated $360.70B in gross profit for the year, representing a gross profit margin of 39.5%. This demonstrates the company's core pricing power and production efficiency.