BrasilAgro - Companhia Brasileira de Propriedades Agrícolas
- Open
- 3.51
- Day high
- 3.59
- Day low
- 3.50
- Prev close
- 3.58
- Volume
- 132K
- Mkt cap
- $357M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.9
- P/S
- 3.4
- Yield
- 3.39%
- Per share
- $0.12
- ▲Insiders net buying $125K over the last 3 months (3 open-market buys, 3 sales)
- 🏛Institutions reducing (13F)
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) is a Consumer Defensive company listed on NYSE. The stock is down 5% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 3 sales (SEC Form 4).
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LND earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | — | $-0.12 | — | $5M | -82.2% |
| Feb 5, 2026 | — | $-0.03 | — | $35M | — |
| Nov 6, 2025 | — | $-0.11 | — | $57M | — |
| Sep 25, 2025 | — | $-0.04 | — | $28M | — |
| Feb 6, 2025 | — | $-0.03 | — | $25M | — |
| Sep 3, 2024 | — | $0.44 | — | $85M | — |
| Feb 9, 2024 | — | $-0.01 | — | $31M | — |
| Sep 6, 2023 | — | $0.48 | — | $139M | — |
| Feb 7, 2023 | — | $-0.02 | — | $35M | — |
| Sep 1, 2022 | — | $0.06 | — | $54M | — |
| Feb 9, 2022 | — | $0.52 | — | $120M | — |
| Nov 4, 2021 | — | $0.20 | — | $99M | — |
LND insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 20, 2026 | Lopez Gustavo Javierdirector | Sell | 4,000 | $3.84 |
| Jul 2, 2026 | Lopez Gustavo Javierdirector | Sell | 2,000 | $3.49 |
| Jun 30, 2026 | Elsztain Alejandro Gustavodirector | Buy | 14,500 | $3.58 |
| Jun 29, 2026 | Elsztain Alejandro Gustavodirector | Buy | 14,500 | $3.58 |
| Jun 8, 2026 | Lopez Gustavo Javierdirector | Sell | 2,000 | $3.62 |
| May 22, 2026 | Elsztain Alejandro Gustavodirector | Buy | 13,500 | $3.74 |
Source: LND SEC Form 4 filings, latest Jul 20, 2026. For informational purposes only — not investment advice.
See the full LND insider & 13F page →BrasilAgro - Companhia Brasileira de Propriedades Agrícolas company profile
Overview
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (NASDAQ:LND) is a Brazilian agricultural company founded in 2005 and publicly traded since 2012. The company operates as an integrated agricultural enterprise that acquires, develops, and manages farmland across Brazil and Paraguay. BrasilAgro follows a unique business model that combines traditional farming operations with real estate development, transforming raw land into productive agricultural assets and eventually selling mature properties to reinvest in new opportunities. The company currently operates 17 farms across 6 Brazilian states plus 1 farm in Paraguay, managing a total area of 223,551 hectares of owned land and 51,747 hectares of leased land.
Business
BrasilAgro operates in the agricultural sector with a diversified approach across multiple crop types and livestock. The company's business is structured around six main segments that generate revenue through different agricultural activities. The Grains segment represents the largest portion of operations, focusing on the cultivation of soybeans, corn, and sorghum. Soybeans are Brazil's most important agricultural export crop, used primarily for animal feed and oil production globally. Corn serves both domestic livestock feed markets and export opportunities, while sorghum provides a drought-resistant grain alternative. This segment typically accounts for the majority of the company's agricultural revenue. The Cotton segment involves the production of cotton fiber, a key textile raw material. Brazil is one of the world's largest cotton exporters, and BrasilAgro's cotton operations benefit from the country's favorable climate and growing conditions in the Cerrado region. The Sugarcane segment produces sugarcane for both sugar and ethanol production. Ethanol serves as a biofuel alternative to gasoline in Brazil's flex-fuel vehicle market, making this segment particularly important given Brazil's commitment to renewable energy sources. The Cattle Raising segment focuses on beef production, specifically raising and selling beef calves after weaning. This livestock operation takes advantage of Brazil's position as one of the world's largest beef exporters. The Real Estate segment represents a unique aspect of BrasilAgro's business model, involving the acquisition of undeveloped or underutilized rural land, transforming it into productive agricultural assets, and eventually selling these mature properties at higher values. The Other segment includes various ancillary activities such as importing and exporting agricultural products and inputs, real estate brokerage services, and third-party asset management.
Revenue model
BrasilAgro generates revenue through multiple streams that leverage both agricultural production and land appreciation. The primary revenue source comes from product sales of agricultural commodities including soybeans, corn, cotton, sugarcane, and beef cattle. These products are sold to domestic processors, exporters, and international commodity markets, with pricing largely determined by global commodity exchanges. The company's customers include large agricultural commodity traders like Cargill and ADM, domestic food processors, sugar mills, ethanol producers, and livestock processors. Revenue timing is seasonal, with major harvest periods typically occurring between February and August depending on the crop type. A distinctive aspect of BrasilAgro's business model is its real estate development and sales component. The company acquires undeveloped land at lower prices, invests in infrastructure improvements, irrigation systems, and soil preparation to transform it into productive farmland, then sells these mature properties at significantly higher values. This creates substantial capital gains that supplement operational agricultural income. Several factors influence BrasilAgro's profitability margins. Commodity price volatility represents the most significant external factor, as global supply and demand dynamics for soybeans, corn, and other crops directly impact revenue. Weather conditions affect both crop yields and quality, with droughts or excessive rainfall potentially reducing production. Input costs, particularly fertilizers, seeds, and fuel, significantly impact margins, with fertilizer costs being especially volatile due to natural gas price fluctuations and geopolitical factors affecting global supply chains. Currency exchange rates also play a crucial role since many of BrasilAgro's products are exported and priced in US dollars, while most operational costs are incurred in Brazilian reais. A weaker real generally improves export competitiveness and margins. Land prices in Brazil's agricultural regions affect both the real estate development returns and the company's ability to acquire new properties at attractive prices.
Competitive moat
BrasilAgro's competitive moat is moderate and primarily stems from its land ownership and operational expertise rather than from insurmountable barriers to entry. The company's most significant advantage lies in its strategic land portfolio in Brazil's prime agricultural regions, particularly the Cerrado savanna, which offers some of the world's most productive and scalable farmland. Once acquired and developed, these land assets provide a relatively stable foundation for operations. The company has developed considerable operational expertise in transforming raw land into productive agricultural assets, including soil management, irrigation system installation, and infrastructure development. This knowledge base, accumulated over nearly two decades, provides some competitive advantage in identifying and developing underutilized properties. BrasilAgro's integrated business model combining farming operations with real estate development creates some differentiation from pure-play agricultural producers. This approach allows the company to capture value from both crop production and land appreciation, providing multiple revenue streams and potential for capital recycling. However, the company's moat faces several challenges. The agricultural sector is inherently commodity-based, meaning BrasilAgro has limited pricing power and must compete primarily on cost efficiency and scale. Large agribusiness conglomerates with greater resources and vertical integration capabilities pose competitive threats. Additionally, technological disruption in agriculture, including precision farming, biotechnology, and automation, requires continuous investment to maintain competitiveness. The real estate component of the business, while providing differentiation, is also accessible to other well-capitalized agricultural companies and investment funds. As Brazil's agricultural land market matures, opportunities for significant value creation through land transformation may become more limited and competitive.
Risks & safety
BrasilAgro presents a moderate margin of safety with some concerning liquidity trends but reasonable asset backing. **Cash and Liquidity Concerns:** - Cash position declined significantly from R$29.5 million in Q4 2024 to R$10.7 million in Q3 2025 - Negative free cash flow of R$9.4 million in most recent quarter - Operating cash flow turned negative at R$7.7 million in Q3 2025 - Current ratio of 1.58x provides adequate short-term liquidity coverage **Debt and Solvency:** - Debt-to-equity ratio of 0.62x represents moderate leverage - Total debt of approximately R$300 million against R$660 million in total assets - No immediate solvency risk given asset base, but cash burn requires monitoring **Valuation Metrics:** - Trading at 1.07x book value, suggesting modest premium to net asset value - EV/EBITDA of 15.4x based on most recent quarter's EBITDA - Historical P/E ratios have ranged from 2.8x to 11.4x during profitable periods **Other Considerations:** - Substantial land holdings provide asset backing and potential liquidation value - Seasonal business model creates natural cash flow volatility - Commodity price exposure creates earnings unpredictability
Recent development
Over the past few years, BrasilAgro has pursued a consistent strategy of asset recycling and operational expansion while investing in infrastructure and sustainability initiatives. The company has actively sold mature farm properties, including the remaining portion of Araucária Farm, and reinvested proceeds into new acquisitions such as the 5,400-hectare Panamby Farm. This approach allows BrasilAgro to realize gains from developed properties while expanding its operational footprint. The company has prioritized infrastructure investments to improve productivity and operational efficiency. Key focus areas include connectivity projects to improve logistics and communication capabilities, irrigation system installations particularly in Bahia state to reduce weather dependency, and the development of a seed production plant to achieve greater input cost control and quality assurance. Sustainability and ESG initiatives have become increasingly important to BrasilAgro's strategy. The company completed its first comprehensive greenhouse gas inventory and expanded social programs that now benefit approximately 18,000 people in rural communities. Governance improvements include the establishment of a new audit committee to enhance oversight and transparency. BrasilAgro has also focused on vertical integration opportunities within its production units, seeking to capture more value along the agricultural supply chain. The company continues to explore leasing additional hectares to expand operational scale without requiring significant capital investment in land acquisition. Recent financial performance has been mixed, with strong profitability in fiscal 2024 followed by losses in the first half of fiscal 2025, reflecting the cyclical and weather-dependent nature of agricultural operations. The company maintains its commitment to dividend distributions, targeting 25-35% of net profit when profitable, while balancing capital allocation between growth investments and shareholder returns.
LND company profile · for informational purposes only — not investment advice.
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