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BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

BOVESPA:AGRO3
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AGRO3
BOVESPA
R$917M
Market Cap
  1. Home
  2. BR
  3. Food, Beverage & Tobacco
Company description

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas engages in the acquisition, development, exploration, and sale of rural properties suitable for agricultural activities in Brazil. The last earnings update was 61 days ago. More info.


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AGRO3 Share Price and Events
7 Day Returns
1%
BOVESPA:AGRO3
-0.7%
BR Food
-2.9%
BR Market
1 Year Returns
9.3%
BOVESPA:AGRO3
-0.1%
BR Food
-22%
BR Market
AGRO3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (AGRO3) 1% -14.9% -12.6% 9.3% 38.9% 91%
BR Food -0.7% -22.1% -31.6% -0.1% 9.6% -21.2%
BR Market -2.9% -30.3% -36.2% -22% 6.9% 18%
1 Year Return vs Industry and Market
  • AGRO3 outperformed the Food industry which returned -0.1% over the past year.
  • AGRO3 outperformed the Market in Brazil which returned -22% over the past year.
Price Volatility
AGRO3
Industry
5yr Volatility vs Market
Related Companies

Value

 Is BrasilAgro - Companhia Brasileira de Propriedades Agrícolas undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for BrasilAgro - Companhia Brasileira de Propriedades Agrícolas.

BOVESPA:AGRO3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.7%
Perpetual Growth Rate 10-Year BR Government Bond Rate 7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BOVESPA:AGRO3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year BR Govt Bond Rate 7%
Equity Risk Premium S&P Global 9.3%
Food Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.566 (1 + (1- 34%) (49.97%))
0.834
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 6.96% + (0.834 * 9.25%)
14.68%

Discounted Cash Flow Calculation for BOVESPA:AGRO3 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BrasilAgro - Companhia Brasileira de Propriedades Agrícolas is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

BOVESPA:AGRO3 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (BRL, Millions) Source Present Value
Discounted (@ 14.68%)
2020 25.00 Analyst x1 21.80
2021 142.00 Analyst x1 107.98
2022 172.00 Analyst x1 114.05
2023 196.77 Est @ 14.4% 113.78
2024 220.71 Est @ 12.17% 111.29
2025 244.12 Est @ 10.61% 107.34
2026 267.35 Est @ 9.51% 102.51
2027 290.73 Est @ 8.75% 97.21
2028 314.60 Est @ 8.21% 91.73
2029 339.25 Est @ 7.84% 86.26
Present value of next 10 years cash flows R$953.00
BOVESPA:AGRO3 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= R$339.25 × (1 + 6.96%) ÷ (14.68% – 6.96%)
R$4,702.83
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= R$4,702.83 ÷ (1 + 14.68%)10
R$1,195.75
BOVESPA:AGRO3 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= R$953.00 + R$1,195.75
R$2,148.75
Equity Value per Share
(BRL)
= Total value / Shares Outstanding
= R$2,148.75 / 53.95
R$39.83
BOVESPA:AGRO3 Discount to Share Price
Calculation Result
Value per share (BRL) From above. R$39.83
Current discount Discount to share price of R$17.00
= -1 x (R$17.00 - R$39.83) / R$39.83
57.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price BrasilAgro - Companhia Brasileira de Propriedades Agrícolas is available for.
Intrinsic value
>50%
Share price is R$17 vs Future cash flow value of R$39.83
Current Discount Checks
For BrasilAgro - Companhia Brasileira de Propriedades Agrícolas to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BOVESPA:AGRO3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in BRL R$1.89
BOVESPA:AGRO3 Share Price ** BOVESPA (2020-04-03) in BRL R$17
Brazil Food Industry PE Ratio Median Figure of 9 Publicly-Listed Food Companies 11.96x
Brazil Market PE Ratio Median Figure of 231 Publicly-Listed Companies 11.32x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas.

BOVESPA:AGRO3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BOVESPA:AGRO3 Share Price ÷ EPS (both in BRL)

= 17 ÷ 1.89

8.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas is good value based on earnings compared to the BR Food industry average.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas is good value based on earnings compared to the Brazil market.
Price based on expected Growth
Does BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's expected growth come at a high price?
Raw Data
BOVESPA:AGRO3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
Not available
Brazil Food Industry PEG Ratio Median Figure of 6 Publicly-Listed Food Companies 1.81x
Brazil Market PEG Ratio Median Figure of 118 Publicly-Listed Companies 0.9x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for BrasilAgro - Companhia Brasileira de Propriedades Agrícolas, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's assets?
Raw Data
BOVESPA:AGRO3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in BRL R$17.48
BOVESPA:AGRO3 Share Price * BOVESPA (2020-04-03) in BRL R$17
Brazil Food Industry PB Ratio Median Figure of 10 Publicly-Listed Food Companies 1.39x
Brazil Market PB Ratio Median Figure of 279 Publicly-Listed Companies 1.15x
BOVESPA:AGRO3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BOVESPA:AGRO3 Share Price ÷ Book Value per Share (both in BRL)

= 17 ÷ 17.48

0.97x

* Primary Listing of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas is good value based on assets compared to the BR Food industry average.
X
Value checks
We assess BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. BrasilAgro - Companhia Brasileira de Propriedades Agrícolas has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is BrasilAgro - Companhia Brasileira de Propriedades Agrícolas expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-16.5%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is BrasilAgro - Companhia Brasileira de Propriedades Agrícolas expected to grow at an attractive rate?
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 7%.
Growth vs Market Checks
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's earnings are expected to decrease over the next 1-3 years, this is below the Brazil market average.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's revenue growth is expected to exceed the Brazil market average.
Annual Growth Rates Comparison
Raw Data
BOVESPA:AGRO3 Future Growth Rates Data Sources
Data Point Source Value (per year)
BOVESPA:AGRO3 Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -16.5%
BOVESPA:AGRO3 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 11.7%
Brazil Food Industry Earnings Growth Rate Market Cap Weighted Average 4.5%
Brazil Food Industry Revenue Growth Rate Market Cap Weighted Average 5%
Brazil Market Earnings Growth Rate Market Cap Weighted Average 17.5%
Brazil Market Revenue Growth Rate Market Cap Weighted Average 8.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BOVESPA:AGRO3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in BRL Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BOVESPA:AGRO3 Future Estimates Data
Date (Data in BRL Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 601 2
2021-06-30 587 3
2020-06-30 469 70 89 2
2020-04-04
BOVESPA:AGRO3 Past Financials Data
Date (Data in BRL Millions) Revenue Cash Flow Net Income *
2019-12-31 476 107 102
2019-09-30 464 107 81
2019-06-30 501 51 177
2019-03-31 448 15 181
2018-12-31 446 39 231
2018-09-30 419 -19 243
2018-06-30 284 -2 126
2018-03-31 250 18 107
2017-12-31 247 28 57
2017-09-30 217 74 44
2017-06-30 174 65 27
2017-03-31 125 62 -11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's revenue is expected to grow by 11.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BOVESPA:AGRO3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from BrasilAgro - Companhia Brasileira de Propriedades Agrícolas Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BOVESPA:AGRO3 Future Estimates Data
Date (Data in BRL Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30
2021-06-30 1.37 1.37 1.37 1.00
2020-06-30 0.91 0.91 0.91 1.00
2020-04-04
BOVESPA:AGRO3 Past Financials Data
Date (Data in BRL Millions) EPS *
2019-12-31 1.89
2019-09-30 1.51
2019-06-30 3.29
2019-03-31 3.51
2018-12-31 4.42
2018-09-30 4.58
2018-06-30 2.35
2018-03-31 1.87
2017-12-31 1.01
2017-09-30 0.78
2017-06-30 0.48
2017-03-31 -0.19

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Brazil market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Brazil market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has BrasilAgro - Companhia Brasileira de Propriedades Agrícolas performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's year on year earnings growth rate has been positive over the past 5 years.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's 1-year earnings growth is negative, it can't be compared to the BR Food industry average.
Earnings and Revenue History
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from BrasilAgro - Companhia Brasileira de Propriedades Agrícolas Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BOVESPA:AGRO3 Past Revenue, Cash Flow and Net Income Data
Date (Data in BRL Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 476.00 101.93 54.78
2019-09-30 464.17 81.02 50.92
2019-06-30 500.72 177.08 49.35
2019-03-31 447.53 180.79 49.70
2018-12-31 445.78 230.83 48.14
2018-09-30 419.48 242.84 48.16
2018-06-30 284.10 126.34 45.03
2018-03-31 250.43 106.75 43.41
2017-12-31 247.46 57.31 40.70
2017-09-30 217.22 44.42 38.62
2017-06-30 173.63 27.31 37.62
2017-03-31 124.85 -10.81 30.54
2016-12-31 116.76 -36.79 30.66
2016-09-30 125.71 -35.25 31.32
2016-06-30 147.13 7.99 31.68
2016-03-31 369.09 186.91 39.94
2015-12-31 383.97 224.47 39.39
2015-09-30 378.68 225.49 38.16
2015-06-30 367.82 180.81 38.37
2015-03-31 175.86 12.33 34.85
2014-12-31 182.19 -6.15 37.21
2014-09-30 164.62 -8.71 39.94
2014-06-30 153.16 -13.36 40.62
2014-03-31 223.70 12.43 43.21
2013-12-31 214.71 10.51 42.16
2013-09-30 240.70 28.34 43.19
2013-06-30 240.46 28.73 43.26

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas used its assets more efficiently than the BR Food industry average last year based on Return on Assets.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from BrasilAgro - Companhia Brasileira de Propriedades Agrícolas Company Filings, last reported 3 months ago.

BOVESPA:AGRO3 Past Debt and Equity Data
Date (Data in BRL Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 942.97 281.35 93.54
2019-09-30 938.85 257.44 116.50
2019-06-30 880.53 285.85 110.67
2019-03-31 888.38 273.72 59.60
2018-12-31 882.81 263.69 76.34
2018-09-30 900.16 229.55 91.52
2018-06-30 755.86 255.87 115.53
2018-03-31 716.98 152.91 17.93
2017-12-31 693.77 141.63 22.57
2017-09-30 684.07 84.12 30.85
2017-06-30 667.47 88.10 45.36
2017-03-31 656.97 86.70 20.20
2016-12-31 656.43 104.00 84.58
2016-09-30 691.54 93.66 116.21
2016-06-30 687.49 94.07 118.06
2016-03-31 733.36 96.93 131.76
2015-12-31 774.82 62.99 139.16
2015-09-30 818.26 60.45 232.76
2015-06-30 752.11 102.50 144.92
2015-03-31 634.12 133.93 37.44
2014-12-31 599.92 123.26 40.24
2014-09-30 592.93 91.36 64.50
2014-06-30 583.91 120.16 108.28
2014-03-31 581.77 137.32 56.93
2013-12-31 584.32 101.06 64.43
2013-09-30 583.29 96.78 122.03
2013-06-30 586.99 101.85 84.94
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's level of debt (29.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (20.6% vs 29.8% today).
  • Debt is well covered by operating cash flow (38.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.1x coverage).
X
Financial health checks
We assess BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. BrasilAgro - Companhia Brasileira de Propriedades Agrícolas has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.47%
Current annual income from BrasilAgro - Companhia Brasileira de Propriedades Agrícolas dividends. Estimated to be 0% next year.
If you bought R$2,000 of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas shares you are expected to receive R$109 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's pays a higher dividend yield than the bottom 25% of dividend payers in Brazil (2.28%).
  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's dividend is below the markets top 25% of dividend payers in Brazil (6.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BOVESPA:AGRO3 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Brazil Food Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 0.6%
Brazil Market Average Dividend Yield Market Cap Weighted Average of 166 Stocks 5.2%
Brazil Minimum Threshold Dividend Yield 10th Percentile 0.9%
Brazil Bottom 25% Dividend Yield 25th Percentile 2.3%
Brazil Top 25% Dividend Yield 75th Percentile 6.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BOVESPA:AGRO3 Future Dividends Estimate Data
Date (Data in R$) Dividend per Share (annual) Avg. No. Analysts
2022-06-30
2021-06-30 0.00 1.00
2020-06-30 0.00 1.00
2020-04-04
BOVESPA:AGRO3 Past Annualized Dividends Data
Date (Data in R$) Dividend per share (annual) Avg. Yield (%)
2020-02-03 0.929 5.268
2019-09-03 0.929 5.178
2019-09-02 0.930 5.506
2018-08-27 0.760 4.888
2017-08-30 0.240 1.827
2017-08-29 0.240 1.983
2016-10-19 0.180 1.555
2016-08-19 0.180 1.558
2016-08-18 0.180 1.504
2015-09-04 1.390 12.228
2015-09-03 1.390 12.658
2015-05-08 0.000 0.000
2015-02-10 0.000 0.000
2014-11-07 0.000 0.000
2014-10-31 0.000 0.000
2013-10-21 0.101 1.099

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BrasilAgro - Companhia Brasileira de Propriedades Agrícolas has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but BrasilAgro - Companhia Brasileira de Propriedades Agrícolas only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • No need to calculate the sustainability of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's dividends in 3 years as they are not expected to pay a notable one for Brazil.
X
Income/ dividend checks
We assess BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can BrasilAgro - Companhia Brasileira de Propriedades Agrícolas afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BrasilAgro - Companhia Brasileira de Propriedades Agrícolas has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
André Guillaumon
AGE 45
TENURE AS CEO 3.7 years
CEO Bio

Mr. André Guillaumon has been Chief Executive Officer of BrasilAgro-Companhia Brasileira de Propriedades Agricolas since August 19, 2016 and serves as its Chief Operating Officer, Agriculture Operating Officer and Member of Board of Executive Officers. Mr. Guillaumon served as Chief Operating Officer at BrasilAgro-Companhia Brasileira de Propriedades Agricolas. In 1996, he began his career at Fertibrás S.A., where he worked directly in preparing and implementing fertilizer production and sales strategies. He also represented Fertibrás S.A. in technical forums, such as the 25th International Fertilizer Management Seminar (Chicago, USA) and at the Fertilizer Quality Commission (ANDA). He holds a Bachelor’s Degree in Agricultural Engineering from the Luiz de Queiroz Higher School of Agriculture (ESALQ/USP) at Piracicaba.

CEO Compensation
  • Insufficient data for André to compare compensation growth.
  • Insufficient data for André to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team

André Guillaumon

TITLE
CEO, COO & Member of Board of Executive Officers
AGE
45
TENURE
3.7 yrs

Gustavo Lopez

TITLE
Chief Administrative Officer
AGE
52

Mariana Conceição de Rezende

TITLE
Legal & Compliance Officer and Member of Board of Executive Officers
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the BrasilAgro - Companhia Brasileira de Propriedades Agrícolas board of directors in years:

1.5
Average Tenure
56
Average Age
  • The average tenure for the BrasilAgro - Companhia Brasileira de Propriedades Agrícolas board of directors is less than 3 years, this suggests a new board.
Board of Directors

Eduardo Sergio Elsztain

TITLE
Chairman of the Board
AGE
59

Alejandro Gustavo Elsztain

TITLE
Director
AGE
53

Saul Zang

TITLE
Director
AGE
74

João de Almeida Filho

TITLE
Independent Director
AGE
54

Isaac Sutton

TITLE
Independent Director
AGE
58

Carlos María Blousson

TITLE
Director
AGE
56
TENURE
2.5 yrs

Alejandro Gustavo Casaretto

TITLE
Director
AGE
67
TENURE
2.5 yrs

Bruno Magalhães

TITLE
Independent Director
AGE
46
TENURE
0.5 yrs

Camilo Marcantonio

TITLE
Independent Director
AGE
38
TENURE
0.5 yrs

Fabiano Ferrari

TITLE
Member of Fiscal Council
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (R$) Value (R$)
X
Management checks
We assess BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. BrasilAgro - Companhia Brasileira de Propriedades Agrícolas has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

BrasilAgro - 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 10 farms in 6 Brazilian states and 1 farm in Paraguay with a total area of 185,147 hectares of own lands and 51,812 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.

Details
Name: BrasilAgro - Companhia Brasileira de Propriedades Agrícolas
AGRO3
Exchange: BOVESPA
Founded: 2005
R$917,156,970
53,950,410
Website: http://www.brasil-agro.com
Address: BrasilAgro - Companhia Brasileira de Propriedades Agrícolas
Avenida Brigadeiro Faria Lima, 1.309,
5th Floor,
Sao Paulo,
São Paulo, 01452-002,
Brazil
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BOVESPA AGRO3 Common Shares Bolsa de Valores de Sao Paulo BR BRL 02. May 2006
NYSE LND SPON ADR EACH REPR 1 ORD SHS New York Stock Exchange US USD 23. Sep 2010
BST 52BA SPON ADR EACH REPR 1 ORD SHS Boerse-Stuttgart DE EUR 23. Sep 2010
Number of employees
Current staff
Staff numbers
0
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas employees.
Industry
Agricultural Products
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 18:52
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/02
Last earnings filing: 2020/02/03
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.