BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) 10-Year Financial Performance & Capital Metrics

LND • • Industrial / General

Consumer DefensiveFarm ProductsIntegrated Agribusiness & Land ManagementAgricultural Land Developers

AboutBrasilAgro - Companhia Brasileira de Propriedades Agrícolas engages in the acquisition, development, exploration, and sale of rural properties suitable for agricultural activities in Brazil. The company operates through six segments: Real Estate, Grains, Sugarcane, Cattle Raising, Cotton, and Other. It is involved in the cultivation of soybean, corn, sorghum, and cotton, as well as sugarcane; and production and sale of beef calves after weaning. The company has 17 farms in 6 Brazilian states and 1 farm in Paraguay with a total area of 223,551 hectares of own lands and 51,747 hectares of leased lands. It also imports and exports agricultural products and inputs; purchases, sells, and/or rents properties, land, buildings, and real estate in rural and/or urban areas; provides real estate brokerage services; and manages third-party assets. The company was incorporated in 2005 and is headquartered in Sao Paulo, Brazil.Show more

Revenue $1.06B +3.8%
EBITDA $107M -59.9%
Net Income $138M -39.2%
EPS (Diluted) 1.38 -39.2%
Gross Margin 20.38% -33.4%
EBITDA Margin 10.09% -61.3%
Operating Margin 8.37% -54.1%
Net Margin 13.05% -41.4%
ROE 6.33% -38.9%
ROIC 2.08% -57.2%
Debt/Equity 0.60 +25.7%
Interest Coverage 1.07 -61.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 14.2%
✓Healthy 5Y average net margin of 28.0%
✓Trading at only 0.2x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Dividend payout exceeds 100% of earnings
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.23%

5Y14.18%

3Y-8.24%

TTM-11.55%

Profit (Net Income) CAGR

10Y-2.66%

5Y2.91%

3Y-35.74%

TTM-97.1%

EPS CAGR

10Y-7.77%

5Y-7.25%

3Y-35.86%

TTM-97.63%

ROCE

10Y Avg8.34%

5Y Avg7.64%

3Y Avg6.23%

Latest2.83%

Peer Comparison

Agricultural Land Developers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LNDBrasilAgro - Companhia Brasileira de Propriedades Agrícolas	374.55M	3.76	2.72	3.84%	1.15%	0.59%	15.84%	0.60

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	147.79M	171.97M	297.57M	533.09M	544.84M	716.05M	1.37B	1.2B	1.02B	1.06B
Revenue Growth %	-0.59%	0.16%	0.73%	0.79%	0.02%	0.31%	0.91%	-0.12%	-0.15%	0.04%
Cost of Goods Sold+	143.43M	124.1M	141.82M	296.9M	323.44M	201.8M	592.92M	807.99M	706.52M	841.98M
COGS % of Revenue	0.97%	0.72%	0.48%	0.56%	0.59%	0.28%	0.43%	0.67%	0.69%	0.8%
Gross Profit+	4.36M	47.88M	155.74M	236.19M	221.39M	-35.82M	775.92M	393.74M	311.89M	215.55M
Gross Margin %	0.03%	0.28%	0.52%	0.44%	0.41%	-0.05%	0.57%	0.33%	0.31%	0.2%
Gross Profit Growth %	-0.98%	9.99%	2.25%	0.52%	-0.06%	-1.16%	22.66%	-0.49%	-0.21%	-0.31%
Operating Expenses+	28.86M	43.19M	44.93M	50.35M	57.11M	97.41M	85.75M	117.92M	126.08M	127M
OpEx % of Revenue	0.2%	0.25%	0.15%	0.09%	0.1%	0.14%	0.06%	0.1%	0.12%	0.12%
Selling, General & Admin	25.63M	32.38M	39.19M	43.47M	58.19M	74.8M	81.82M	92.3M	101.72M	127M
SG&A % of Revenue	0.17%	0.19%	0.13%	0.08%	0.11%	0.1%	0.06%	0.08%	0.1%	0.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	5.04M	10.82M	-98K	1M	-1.08M	22.6M	3.93M	25.62M	24.36M	0
Operating Income+	-25.02M	-185K	160.81M	186.88M	164.28M	-110.63M	690.18M	275.82M	185.81M	88.55M
Operating Margin %	-0.17%	-0%	0.54%	0.35%	0.3%	-0.15%	0.5%	0.23%	0.18%	0.08%
Operating Income Growth %	-1.16%	0.99%	870.26%	0.16%	-0.12%	-1.67%	7.24%	-0.6%	-0.33%	-0.52%
EBITDA+	-3.06M	14.84M	184.03M	209.95M	224.53M	-623K	772.79M	364.31M	265.98M	106.76M
EBITDA Margin %	-0.02%	0.09%	0.62%	0.39%	0.41%	-0%	0.56%	0.3%	0.26%	0.1%
EBITDA Growth %	-1.02%	5.85%	11.4%	0.14%	0.07%	-1%	1241.43%	-0.53%	-0.27%	-0.6%
D&A (Non-Cash Add-back)	21.96M	15.03M	23.22M	23.08M	60.25M	110M	82.61M	88.49M	80.17M	18.21M
EBIT	17.64M	42.22M	181.03M	217.97M	158.78M	326.82M	705.36M	333.24M	258.74M	86.86M
Net Interest Income+	42.09M	18.32M	-2.12M	613K	-12.17M	-18.76M	1.7M	-1.25M	-36M	-82.94M
Interest Income	192.64M	20.26M	14.8M	6.13M	2.01M	1.74M	69.74M	50.27M	31.22M	0
Interest Expense	154.27M	8.96M	30.14M	18.46M	14.18M	20.49M	68.04M	51.53M	67.22M	82.94M
Other Income/Expense	42.29M	33.44M	42.08M	12.92M	-30.75M	408.76M	-52.86M	5.89M	5.71M	62.84M
Pretax Income+	13.35M	33.26M	152.26M	199.8M	133.53M	298.13M	637.32M	281.71M	191.51M	151.39M
Pretax Margin %	0.09%	0.19%	0.51%	0.37%	0.25%	0.42%	0.47%	0.23%	0.19%	0.14%
Income Tax+	2.78M	5.95M	25.92M	22.72M	13.97M	-19.52M	117.22M	13.17M	-35.35M	13.37M
Effective Tax Rate %	0.79%	0.82%	0.83%	0.89%	0.9%	1.07%	0.82%	0.95%	1.18%	0.91%
Net Income+	10.57M	27.31M	126.34M	177.08M	119.55M	317.65M	520.1M	268.54M	226.87M	138.02M
Net Margin %	0.07%	0.16%	0.42%	0.33%	0.22%	0.44%	0.38%	0.22%	0.22%	0.13%
Net Income Growth %	-0.94%	1.58%	3.63%	0.4%	-0.32%	1.66%	0.64%	-0.48%	-0.16%	-0.39%
Net Income (Continuing)	7.99M	27.31M	126.34M	177.08M	119.55M	317.65M	520.1M	268.54M	226.87M	138.02M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.19	0.47	2.22	3.27	2.01	4.45	5.23	2.62	2.27	1.38
EPS Growth %	-0.94%	1.47%	3.72%	0.47%	-0.39%	1.21%	0.18%	-0.5%	-0.13%	-0.39%
EPS (Basic)	0.19	0.48	2.22	3.29	2.03	4.56	5.26	2.62	2.28	1.39
Diluted Shares Outstanding	54.88M	57.59M	56.91M	54.11M	59.34M	71.42M	99.36M	102.38M	100.07M	100.16M
Basic Shares Outstanding	54.88M	57.24M	56.91M	53.8M	58.81M	69.64M	98.84M	102.38M	99.61M	100.16M
Dividend Payout Ratio	7.63%	1.17%	0.1%	0.23%	0.42%	0.13%	0.88%	1.19%	1.41%	1.13%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	242.59M	171.1M	372.28M	440.83M	642.46M	1.76B	1.59B	1.35B	1.1B	1.18B
Cash & Short-Term Investments	167.76M	50.77M	115.53M	110.67M	171.04M	1.06B	530.36M	412.04M	193.89M	159.82M
Cash Only	54.2M	43.8M	104.31M	106.63M	171.04M	1.06B	435.49M	383.84M	170.95M	159.82M
Short-Term Investments	113.56M	6.97M	11.21M	4.04M	0	0	94.87M	28.2M	22.94M	0
Accounts Receivable	19.18M	45.03M	78.99M	113.58M	163.44M	164.63M	388.06M	410.62M	379.02M	385.06M
Days Sales Outstanding	47.36	95.58	96.89	77.77	109.49	83.92	103.47	124.72	135.84	132.9
Inventory	18.2M	60.92M	131.62M	196.95M	254.33M	476.35M	554.88M	430.61M	443.88M	558.96M
Days Inventory Outstanding	46.31	179.18	338.72	242.12	287.01	861.59	341.58	194.52	229.31	242.31
Other Current Assets	24.5M	4.09M	28.3M	5.91M	33.04M	41.79M	61.01M	76.81M	31.72M	74.02M
Total Non-Current Assets+	610.93M	712.19M	807.32M	916.79M	1.4B	1.67B	1.76B	2.16B	2.51B	2.66B
Property, Plant & Equipment	8.57M	54.74M	84.83M	107.85M	217.02M	190.42M	246.09M	316.34M	462.9M	512.76M
Fixed Asset Turnover	17.25x	3.14x	3.51x	4.94x	2.51x	3.76x	5.56x	3.80x	2.20x	2.06x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	3.45M	1.67M	1.4M	1.56M	1.47M	1.1M	812K	1.92M	4.48M	5.09M
Long-Term Investments	102.95M	101.43M	86K	1.26M	5.74M	5.61M	7.64M	2.59M	1.89B	1.33M
Other Non-Current Assets	439.61M	500.57M	688.26M	785.61M	1.15B	1.4B	1.5B	1.81B	60.31M	2.14B
Total Assets+	853.53M	883.29M	1.18B	1.36B	2.04B	3.43B	3.35B	3.51B	3.61B	3.84B
Asset Turnover	0.17x	0.19x	0.25x	0.39x	0.27x	0.21x	0.41x	0.34x	0.28x	0.28x
Asset Growth %	-0.16%	0.03%	0.34%	0.15%	0.51%	0.68%	-0.02%	0.05%	0.03%	0.06%
Total Current Liabilities+	112.03M	157.16M	203.15M	226.62M	400.09M	661.29M	483.99M	631.91M	527.32M	658.25M
Accounts Payable	12.07M	37.8M	48.52M	37.71M	55.6M	75.22M	80.43M	61.97M	67.19M	103.66M
Days Payables Outstanding	30.72	111.19	124.87	46.36	62.75	136.06	49.51	28	34.71	44.94
Short-Term Debt	49.11M	55M	68.41M	76.61M	217.27M	322.05M	123.41M	198.21M	177.31M	355.84M
Deferred Revenue (Current)	278K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	16.46M	15.95M	25.36M	28.18M	47.48M	117.07M	64.54M	179.27M	80.06M	86.65M
Current Ratio	2.17x	1.09x	1.83x	1.95x	1.61x	2.66x	3.28x	2.14x	2.09x	1.79x
Quick Ratio	2.00x	0.70x	1.18x	1.08x	0.97x	1.94x	2.14x	1.45x	1.24x	0.94x
Cash Conversion Cycle	62.94	163.56	310.74	273.53	333.76	809.45	395.54	291.25	330.44	330.27
Total Non-Current Liabilities+	55.48M	58.67M	220.58M	250.46M	522.71M	584.42M	645.22M	679.03M	898.08M	1B
Long-Term Debt	44.96M	33.09M	187.39M	209.25M	296.84M	341.13M	329.63M	356.43M	504.63M	529.68M
Capital Lease Obligations	3.27M	22.46M	18.54M	20.94M	126.51M	168.45M	230.57M	261.83M	284.6M	343.45M
Deferred Tax Liabilities	17.33M	17.59M	21.04M	58.45M	34.03M	0	34.92M	20.65M	19.72M	0
Other Non-Current Liabilities	7.25M	3.11M	14.65M	20.27M	0	34.01M	50.1M	40.12M	89.13M	127.89M
Total Liabilities	167.51M	215.82M	423.74M	477.08M	922.8M	1.25B	1.13B	1.31B	1.43B	1.66B
Total Debt+	99.84M	112.17M	276.02M	307.05M	666.48M	862.18M	702.19M	871.97M	1.04B	1.31B
Net Debt	45.64M	68.38M	171.71M	200.42M	495.43M	-196.93M	266.7M	488.13M	873.04M	1.15B
Debt / Equity	0.15x	0.17x	0.37x	0.35x	0.59x	0.40x	0.32x	0.40x	0.48x	0.60x
Debt / EBITDA	-	7.56x	1.50x	1.46x	2.97x	-	0.91x	2.39x	3.93x	12.28x
Net Debt / EBITDA	-	4.61x	0.93x	0.95x	2.21x	-	0.35x	1.34x	3.28x	10.79x
Interest Coverage	-0.16x	-0.02x	5.34x	10.12x	11.58x	-5.40x	10.14x	5.35x	2.76x	1.07x
Total Equity+	686.01M	667.47M	755.86M	880.53M	1.12B	2.18B	2.22B	2.2B	2.18B	2.18B
Equity Growth %	-0.09%	-0.03%	0.13%	0.16%	0.27%	0.95%	0.02%	-0.01%	-0.01%	-0%
Book Value per Share	12.50	11.59	13.28	16.27	18.90	30.56	22.30	21.46	21.78	21.74
Total Shareholders' Equity	686.01M	667.47M	755.86M	880.53M	1.12B	2.18B	2.22B	2.2B	2.18B	2.18B
Common Stock	584.22M	584.22M	584.22M	584.22M	699.81M	1.59B	1.59B	1.59B	1.59B	1.59B
Retained Earnings	91.16M	68.61M	164.97M	289M	372.21M	600.81M	0	621.11M	537.88M	542M
Treasury Stock	-37.2M	-36.8M	-35.21M	-35.21M	-31.5M	-40.09M	-49.76M	-50.81M	-43.65M	-43.65M
Accumulated OCI	138.99M	120.04M	166.97M	331.52M	453.26M	646.04M	689.17M	38.85M	645.24M	91.39M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	-17.78M	65.05M	-2.26M	51.34M	69.02M	151.23M	205.18M	155.73M	79.42M	139.31M
Operating CF Margin %	-0.12%	0.38%	-0.01%	0.1%	0.13%	0.21%	0.15%	0.13%	0.08%	0.13%
Operating CF Growth %	-0.59%	4.66%	-1.03%	23.68%	0.34%	1.19%	0.36%	-0.24%	-0.49%	0.75%
Net Income	10.57M	27.31M	126.34M	177.08M	119.55M	317.65M	520.1M	268.54M	226.87M	138.02M
Depreciation & Amortization	21.96M	15.03M	23.22M	23.08M	60.25M	110M	82.61M	88.49M	80.17M	74.95M
Stock-Based Compensation	0	0	844K	1.65M	1.51M	2.55M	3.17M	5.93M	1.8M	1.39M
Deferred Taxes	-13.22M	1.81M	21.04M	12.23M	3.53M	-50.54M	76.19M	-40.05M	-58.83M	0
Other Non-Cash Items	-38.46M	-42.2M	-180.44M	-193.58M	-223.23M	-594.47M	-687.36M	-390.26M	-186.7M	-286.99M
Working Capital Changes	1.37M	63.09M	6.73M	30.88M	107.42M	366.04M	210.47M	223.09M	16.11M	211.93M
Change in Receivables	46.9M	-7.3M	-6.75M	3.4M	50.69M	127.38M	-25.71M	44.74M	-26.77M	-35.9M
Change in Inventory	-19.38M	-753K	1.87M	3.53M	114.09M	233.15M	392.14M	141.85M	-59.45M	-4.09M
Change in Payables	6.54M	25M	11.18M	13.6M	-35.7M	4.14M	-57.89M	-17.38M	-28.7M	0
Cash from Investing+	161.11M	-13.53M	-65.7M	-21.27M	-29.3M	-214.01M	-89.73M	55.04M	-27.85M	-106.68M
Capital Expenditures	-1.1M	-25.48M	-43.1M	-43.67M	-25.09M	-18.71M	-50.84M	-60.78M	-68.41M	-79.97M
CapEx % of Revenue	0.01%	0.15%	0.14%	0.08%	0.05%	0.03%	0.04%	0.05%	0.07%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	162.22M	5.94M	-27.86M	-49K	4.13M	-33.83M	0	110.96M	102.62M	-26.72M
Cash from Financing+	-164.75M	-61.93M	125.41M	-27.62M	18.45M	954.86M	-737.8M	-261.06M	-265.8M	-60.7M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-80.67M	-32.04M	-12.97M	-41M	-50M	-42M	-459.98M	-319.98M	-319.05M	-155.98M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-33.72M	-6.33M	-25.91M	-4.04M	-88.59M	-16.49M	-41.7M	-30.68M	-43.87M	-348.31M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-18.88M	39.57M	-45.37M	7.67M	43.94M	132.52M	154.34M	94.95M	11.02M	59.33M
FCF Margin %	-0.13%	0.23%	-0.15%	0.01%	0.08%	0.19%	0.11%	0.08%	0.01%	0.06%
FCF Growth %	-0.46%	3.1%	-2.15%	1.17%	4.73%	2.02%	0.16%	-0.38%	-0.88%	4.39%
FCF per Share	-0.34	0.69	-0.80	0.14	0.74	1.86	1.55	0.93	0.11	0.59
FCF Conversion (FCF/Net Income)	-1.68x	2.38x	-0.02x	0.29x	0.58x	0.48x	0.39x	0.58x	0.35x	1.01x
Interest Paid	0	0	0	0	0	0	0	0	0	348.31M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	1.47%	4.04%	17.75%	21.64%	11.94%	19.23%	23.65%	12.17%	10.37%	6.33%
Return on Invested Capital (ROIC)	-2.47%	-0.02%	14.5%	13.96%	9.13%	-4.61%	23.17%	8.01%	4.86%	2.08%
Gross Margin	2.95%	27.84%	52.34%	44.3%	40.63%	-5%	56.68%	32.76%	30.63%	20.38%
Net Margin	7.15%	15.88%	42.46%	33.22%	21.94%	44.36%	38%	22.35%	22.28%	13.05%
Debt / Equity	0.15x	0.17x	0.37x	0.35x	0.59x	0.40x	0.32x	0.40x	0.48x	0.60x
Interest Coverage	-0.16x	-0.02x	5.34x	10.12x	11.58x	-5.40x	10.14x	5.35x	2.76x	1.07x
FCF Conversion	-1.68x	2.38x	-0.02x	0.29x	0.58x	0.48x	0.39x	0.58x	0.35x	1.01x
Revenue Growth	-59.49%	16.36%	73.03%	79.15%	2.2%	31.42%	91.17%	-12.21%	-15.25%	3.84%

Frequently Asked Questions

Valuation & Price

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) has a price-to-earnings (P/E) ratio of 2.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) reported $1.08B in revenue for fiscal year 2025. This represents a 592% increase from $156.1M in 2012.

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) grew revenue by 3.8% over the past year. Growth has been modest.

Yes, BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) is profitable, generating $12.5M in net income for fiscal year 2025 (13.1% net margin).

Dividend & Returns

Yes, BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) pays a dividend with a yield of 41.42%. This makes it attractive for income-focused investors.

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) has a return on equity (ROE) of 6.3%. This is below average, suggesting room for improvement.

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) generated $232.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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