BrasilAgro - Companhia Brasileira de Propriedades Agricolas LND

Consumer StaplesFood & TobaccoBrazil

Last close 3.20 USD on Nov 2, 2026, −9.2% year to date

Quant rating

Quant rating D Rank 140 of 174 in Consumer Staples

Growth C 119 of 174
Valuation C 73 of 174
Quality D 126 of 174
Revisions C 119 of 174
Momentum D 143 of 174

Wall Street consensus Hold (2.67)Average target 4.34 USD +35.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 330M
Enterprise value: 560M
52-week range: 3.13 – 4.45
3-year range: 3.13 – 5.50
Dividend yield: 1.81%
Beta (5 years): 0.11
Shares outstanding: 103M
Next earnings: Nov 5, 2026

About the company

BrasilAgro - Companhia Brasileira de Propriedades Agricolas is a Brazil-based company. Its core business consists of the acquisition, development, operation and sale of rural properties suitable for agricultural activities. The Company's activities are carried out through one operating segment: commercialization of properties, through purchase, sale or lease, and the production and commercialization of agricultural products. BrasilAgro is a producer of grains, cotton, sugar cane, and livestock. The Company actively manages its operations by combining the returns generated from BrasilAgro’s properties and operations, while mitigating weather and crop risks through geographic diversification and by obtaining high yields on the rural properties.

Growth and profitability

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	173	162	138	189	222	–
Revenue growth	7.0%	17.1%	−26.9%	−15.1%	66.6%	5.3%
EPS (basic, normalized)	–	–	0.39	0.53	1.01	–
EPS growth	–	–	−26.4%	−47.5%	–	–
Gross margin	7.1%	5.0%	3.1%	1.9%	2.2%	3.9%
Net margin	−10.1%	15.7%	29.4%	29.7%	44.5%	21.9%
ROE	−4.3%	6.3%	10.4%	12.2%	23.6%	9.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	35.8
Current ratio	1.54x
Long-term debt (mil)	169
Net debt (mil)	242
Total equity (mil)	392
Net debt / equity	0.62x
Net debt / EBITDA	34.42x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	173	+7.0%	3.2x	7.0	–	79.7x	–	–	–
2027	258	+49.3%	2.2x	69.5	+890.7%	8.0x	0.38	–	8.4x
2028	310	+20.0%	1.8x	63.6	−8.5%	8.8x	0.24	−38.6%	13.6x
2029	327	+5.5%	1.7x	71.1	+11.8%	7.9x	0.31	+33.3%	10.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	258	0.0%	+19.4%	+19.4%	0.38	0.0%	–	+15.0%
2028	310	0.0%	+28.2%	+28.2%	0.24	0.0%	–	−50.0%
2029	327	0.0%	–	–	0.31	0.0%	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	Mar 2026	FQ0
Sales reported (mil)	122	230	325	153	225	229	–	191	165	256
Sales mean (mil)	126	219	334	151	169	226	–	156	–	262
Surprise	−3.3%	+5.2%	−2.6%	+1.4%	+33.1%	+1.2%	–	+22.5%	–	−2.2%
EPS reported	–	–	–	–	–	–	–	–	−0.14	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

Peer comparison Food & Tobacco

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
LND BrasilAgro - Companhia Brasileira de Propriedades Agricolas	330M	34.42x	−10.1%	0.86x	8.4x	13.6x	8.0x	8.8x
UCFI CN Healthy Food Tech Group Corp	288M	–	30.3%	–	–	–	–	–
Mean		34.42x	10.1%	0.86x	8.4x	13.6x	8.0x	8.8x
Median		34.42x	10.1%	0.86x	8.4x	13.6x	8.0x	8.8x

Technical analysis

1M−7.4%
3M−13.3%
1Y−12.6%
3Y−28.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, BrasilAgro - Companhia Brasileira de Propriedades Agricolas, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	173	162	138	189	222	133
Cost of revenue	161	154	134	185	217	147
Gross profit	12.3	8.0	4.3	3.6	4.8	−13.3
Selling, general & administrative expenses	26.6	21.6	20.3	22.0	17.3	15.7
Research & development	–	–	–	–	–	–
Depreciation/amortization	0.6	0.5	0.3	0.2	0.2	0.2
Interest expense (income), operating	0	0.3	0	0	0	0
Unusual expense (income)	−5.2	−52.3	−50.1	−77.3	−144	−109
Other operating expenses	0.5	0.2	0.7	0.9	0.1	0.6
Operating income	−10.3	37.7	33.2	57.6	131	79.3
Net interest income (expense)	−7.1	−8.0	−11.5	17.2	−12.4	−31.4
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−11.2	−6.8	12.5	−16.0	2.3	12.1
Net income before taxes	−28.5	22.9	34.2	58.9	121	60.0
Provision for taxes	−11.1	−2.5	−6.3	2.8	22.3	−3.9
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−17.4	25.4	40.6	56.1	98.9	63.9
Extraordinary items	–	–	–	–	–	–
Net income	−17.4	25.4	40.6	56.1	98.9	63.9
EBIT, normalized	−14.0	−4.8	−6.0	−0.6	−0.4	−27.8
EBITDA, normalized	11.3	22.4	15.3	22.3	13.2	−5.7
Basic EPS, normalized	–	–	0.39	0.53	1.01	–

Balance sheet in millions of USD, fiscal years

Balance sheet, BrasilAgro - Companhia Brasileira de Propriedades Agricolas, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	35.8	29.4	34.7	86.1	101	213
Receivables	63.6	75.4	67.8	85.8	73.8	35.0
Total inventory	106	103	79.4	90.0	106	95.9
Prepaid expenses	2.6	3.6	6.4	4.1	10.3	3.9
Other current assets	2.9	5.5	8.4	16.0	11.6	6.6
Total current assets	211	217	197	282	302	354
Property, plant & equipment	361	344	321	336	249	246
Goodwill	–	–	–	–	–	–
Intangibles	1.0	0.9	0.8	0.4	0.2	0.2
Long-term investments	3.8	0.2	3.3	5.1	5.2	3.2
Note receivable	91.1	110	104	102	78.2	70.3
Other long-term assets	49.6	33.8	18.3	7.9	1.8	15.8
Total assets	718	706	645	733	636	690
Liabilities
Accounts payable	12.5	19.1	12.0	12.9	15.3	15.1
Payable/accrued	–	–	–	–	–	–
Accrued expenses	4.4	4.0	3.7	4.9	4.9	4.5
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	108	80.7	45.6	53.0	27.0	71.0
Other current liabilities	12.0	17.5	33.0	61.2	44.9	42.5
Total current liabilities	137	121	94.3	132	92.1	133
Long-term debt	169	161	141	129	107	103
Minority interest	–	–	–	–	–	–
Other liabilities	19.5	23.5	19.5	12.7	16.2	15.1
Total liabilities	326	305	255	274	215	251
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	308	292	284	332	302	320
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	78.1	98.3	94.5	127	113	114
Treasury stock	−8.5	−8.0	−7.8	−10.6	−9.5	−8.1
Other equity	15.0	18.3	19.1	10.9	16.4	13.7
Total equity	392	401	390	459	422	439
Total liabilities & shareholders' equity	718	706	645	733	636	690

Cash flow statement in millions of USD, fiscal years

Cash flow statement, BrasilAgro - Companhia Brasileira de Propriedades Agricolas, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	−17.4	25.4	40.6	56.1	98.9	63.9
Depreciation, depletion & amortization	15.4	13.8	14.3	18.5	15.7	22.1
Deferred taxes	−13.1	−6.0	−10.5	−8.4	14.5	−10.2
Non-cash items	16.6	−45.5	−31.5	−59.6	−125	−113
Changes in working capital	32.7	38.0	19.6	50.3	34.5	67.7
Cash from operations	34.1	25.6	32.6	57.0	39.0	30.4
Investing activities
Capital expenditures	−12.4	−14.7	−12.2	−12.7	−9.7	−3.8
Other investing cash flows	−9.6	−4.9	−11.1	−0.2	−7.4	−39.3
Cash from investing	−22.0	−19.6	−23.3	−12.9	−17.1	−43.1
Financing activities
Financing cash flow items	−112	−64.1	−70.6	−33.2	−64.4	−72.9
Cash dividends paid	−14.5	−28.7	−57.1	−66.9	−87.5	−8.5
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	119	81.7	80.1	45.5	11.5	274
Cash from financing	−7.2	−11.2	−47.5	−54.5	−140	192
Foreign exchange effects	0	0	0.2	−0.3	−0.2	−0.8
Net change in cash	5.0	−5.2	−38.1	−10.8	−119	179
Free cash flow	21.8	10.9	20.3	44.3	29.4	26.7

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.