LND

MKT CAP:$403M

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

Market Cap

$403M

Consumer Defensive·Agricultural Farm Products·🇧🇷 Brazil·NYSE

Consumer Def.·Agricultural·🇧🇷·NYSE

Stock Price

$4.07+$0.49 (+13.55%)

Apr 20, 2026

Company Details

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 E...

CEO

André Guillaumon

IPO Date

May 15, 2012

Website

www.brasil-agro.com

Key Metrics TTM

Revenue

$230M

-6.5% YoY

Net Income

$34M

EPS (Diluted)

$0.33

Free Cash Flow

-$10M

Revenue / Share

$2.31

Gross Margin

45.1%

Operating Margin

25.5%

Net Margin

14.9%

FCF Margin

-4.6%

P/S

1.8x

P/E

11.8x

Earnings Reports

Q3 2026

May 7, 2026

PENDING

Q2 2026

Dec 30, 2025

$39MEPS $0.01

Q1 2026

Nov 7, 2025

$61MEPS -$0.13

FY 2025

Oct 30, 2025

$213M+3.8%EPS $0.28

Q3 2025

May 8, 2025

$34M+39.8%EPS -$0.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$48M	$24M	$17M
Q1 22	$108M	$27M	$23M
Q2 22	$135M	$80M	$75M
Q3 22	$28M	$24M	$37M
Q4 22	$58M	$10M	-$543.4K
Q1 23	$64M	$7M	$2M
Q2 23	$37M	$4M	-$3M
Q3 23	$37M	$12M	$3M
Q4 23	$136M	$55M	$42M
Q1 24	$54M	$20M	-$3M
Q2 24	$31M	-$577.8K	-$5M
Q3 24	$25M	$6M	-$2M
Q4 24	$95M	$56M	$50M
Q3 25	$34M	$11M	$5M
Q1 26	$61M	$25M	$4M
Q2 26	$39M	$11M	-$1M

Valuation

Quarter	P/S	P/E
Q4 21	2.5x	6.3x
Q1 22	1.9x	5.7x
Q2 22	1.3x	3.0x
Q3 22	1.3x	3.2x
Q4 22	1.2x	3.8x
Q1 23	1.4x	4.4x
Q2 23	2.2x	14.1x
Q3 23	2.1x	35.1x
Q4 23	1.5x	7.4x
Q1 24	1.5x	7.8x
Q2 24	1.6x	7.6x
Q3 24	1.6x	8.4x
Q4 24	2.0x	8.8x
Q3 25	2.2x	10.2x
Q1 26	1.9x	14.6x
Q2 26	1.8x	11.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$10M	$8M
Q1 22	$42M	$41M
Q2 22	$2M	-$3M
Q3 22	-$32M	-$33M
Q4 22	$29M	$26M
Q1 23	$4M	$336.7K
Q2 23	-$1M	-$3M
Q3 23	-$12M	-$14M
Q4 23	$39M	$62M
Q1 24	$35M	$3M
Q2 24	-$35M	-$37M
Q3 24	$4M	$558.3K
Q4 24	$17M	$11M
Q3 25	-$9M	-$11M
Q1 26	$25M	$22M
Q2 26	-$31M	-$32M

Capital Expenditures

Quarter	CapEx
Q4 21	$1M
Q1 22	$1M
Q2 22	$5M
Q3 22	$1M
Q4 22	$3M
Q1 23	$3M
Q2 23	$1M
Q3 23	$2M
Q4 23	$23M
Q1 24	$33M
Q2 24	$2M
Q3 24	$3M
Q4 24	$6M
Q3 25	$2M
Q1 26	$3M
Q2 26	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+18.0%	-3.4%
Q1 22	+90.7%	+88.0%
Q2 22	+299.8%	+163.3%
Q3 22	+44.3%	+54.7%
Q4 22	+19.2%	+85.8%
Q1 23	-41.3%	-27.8%
Q2 23	-72.5%	-33.9%
Q3 23	+29.0%	+508.7%
Q4 23	+135.9%	+60.9%
Q1 24	-14.3%	-6.8%
Q2 24	-16.9%	-9.4%
Q3 24	-33.1%	-19.9%
Q4 24	-29.8%	-51.8%
Q3 25	-37.0%	-49.3%
Q1 26	+97.4%	+57.2%
Q2 26	+59.6%	+50.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$513.7K	1.1%
Q1 22	$145.3K	0.1%
Q2 22	$132.0K	0.1%
Q3 22	$131.8K	0.5%
Q4 22	$228.7K	0.4%
Q1 23	$662.4K	1.0%
Q2 23	$201.5K	0.5%
Q3 23	$201.7K	0.5%
Q4 23	$128.7K	0.1%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$362.6K	0.4%
Q3 25	$90.7K	0.3%
Q1 26	$0	0.0%
Q2 26	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q4 21	$5M	$3M	—
Q1 22	$2M	$868.5K	—
Q2 22	$2M	$2M	—
Q3 22	$2M	$2M	—
Q4 22	$4M	$3M	—
Q1 23	$2M	$2M	—
Q2 23	$3M	$2M	—
Q3 23	$2M	$2M	—
Q4 23	$4M	$3M	—
Q1 24	$3M	$3M	—
Q2 24	$3M	$1M	—
Q3 24	$3M	$3M	—
Q4 24	$3M	$2M	—
Q3 25	$3M	$3M	—
Q1 26	—	—	$6M
Q2 26	—	—	$5M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$118M	$0	$118M
Q4 22	$88M	$19M	$107M
Q1 23	$88M	$11M	$99M
Q2 23	$59M	$5M	$65M
Q3 23	$45M	$5M	$51M
Q4 23	$77M	$6M	$83M
Q1 24	$69M	$7M	$76M
Q2 24	$40M	$5M	$44M
Q3 24	$41M	$5M	$45M
Q4 24	$34M	$5M	$39M
Q1 25	$32M	$5M	$36M
Q2 25	$6M	$4M	$10M
Q3 25	$13M	$3M	$16M
Q4 25	$32M	$0	$32M
Q1 26	$44M	$3M	$48M
Q2 26	$8M	$3M	$11M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	99M	+21.1%	+67.2%
Q1 22	102M	+3.2%	+69.1%
Q2 22	103M	+0.1%	+66.0%
Q3 22	102M	-0.3%	+24.8%
Q4 22	99M	-3.3%	-0.4%
Q1 23	102M	+3.6%	0.0%
Q2 23	99M	-3.5%	-3.6%
Q3 23	99M	0.0%	-3.3%
Q4 23	99M	+0.6%	+0.5%
Q1 24	99M	+0.0%	-2.9%
Q2 24	100M	+0.2%	+0.8%
Q3 24	100M	0.0%	+0.8%
Q4 24	103M	+3.1%	+3.3%
Q3 25	103M	0.0%	+3.3%
Q1 26	100M	-3.0%	-0.0%
Q2 26	100M	+0.0%	0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$24M	2
Q1 22	$54M	2
Q2 22	$68M	2
Q3 22	$14M	2
Q4 22	$29M	2
Q1 23	$32M	2
Q2 23	$19M	2
Q3 23	$18M	2
Q4 23	$68M	2
Q1 24	$27M	2
Q2 24	$15M	2
Q3 24	$12M	2
Q4 24	$48M	2
Q3 25	$17M	2
Q1 26	$31M	2
Q2 26	$20M	2

Revenue / Employee