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Bioceres Crop Solutions (BIOX)
NASDAQ:BIOX
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Bioceres Crop Solutions
(NASDAQ:BIOX)
58Neutral
Positive Factors
Business Model
Bioceres believes its new partnership-focused business model will benefit the company’s cost structure and royalty collection.
Strategic Partnerships
Management announced a strategic shift to focus on trait development and leverage partnerships to expand internationally.
Negative Factors
Financial Performance
Bioceres Crop Solutions reported revenues and Adj. EBITDA down 24% and ~31% year-over-year, respectively.
Market Conditions
Factors such as weather conditions, soft farm economics in Argentina, depressed buying power for USD-denominated goods, excess fertilizer supply, and soft fertilizer pricing were cited as challenges.
Bioceres Crop Solutions (BIOX) vs. S&P 500 (SPY)
Market Cap
$327.35M
Dividend YieldN/A
Average Volume (3M)391.30K
Price to Earnings (P/E)227.0
Beta (1Y)0.31
Revenue Growth-10.30%
EPS Growth-93.51%
CountryUS
Employees983
SectorBasic Materials
Sector Strength62
IndustryAgriculture
Share Statistics
EPS (TTM)0.02
Shares Outstanding62,710,846
10 Day Avg. Volume466,887
30 Day Avg. Volume391,295
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)1.48
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$7.25Price Target Upside51.04% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Bioceres Crop Solutions Business Overview & Revenue Model
Company DescriptionBioceres Crop Solutions (BIOX) is an agricultural biotechnology company focused on developing and commercializing products and solutions that enhance crop productivity and sustainability. Operating primarily in the biotechnology and agriculture sectors, the company's core offerings include seed technologies, crop protection solutions, and biological inputs designed to improve crop yields and reduce environmental impact.
How the Company Makes MoneyBioceres Crop Solutions generates revenue through the sale of its agricultural biotechnology products and solutions. The company's key revenue streams include the commercialization of genetically modified seeds, crop protection products, and biological inputs such as biofertilizers and biopesticides. Additionally, Bioceres engages in strategic partnerships and collaborations with other agricultural companies to develop and distribute its technologies, which further contributes to its earnings. The company's revenue model is supported by its focus on innovation and sustainability, addressing the growing demand for more efficient and environmentally friendly agricultural practices.
Bioceres Crop Solutions Financial Statement Overview
Summary
Bioceres Crop Solutions shows strong revenue growth and solid gross margins, indicating a positive trajectory. However, challenges exist with profitability margins and cash flow volatility. The moderate leverage and stable equity levels suggest a need for improvement in profit margins and cash flow stability to ensure financial health.Income Statement
Bioceres Crop Solutions shows a solid gross profit margin of 40.41% TTM, though the net profit margin is quite slim at 0.58% TTM. Revenue growth has been robust over recent years, reflecting a positive trajectory. However, the decline in EBIT and EBITDA margins TTM indicates some pressure on operational efficiency.74
Positive
Balance Sheet
The company's debt-to-equity ratio of 0.86 indicates moderate leverage, which is manageable but requires careful monitoring. The return on equity is low at 0.83% TTM, suggesting limited profitability from equity investments. The equity ratio of 37.39% TTM shows a stable capital structure, although improvements could enhance financial resilience.68
Positive
Cash Flow
The free cash flow growth rate has been inconsistent, with recent positive developments. The operating cash flow to net income ratio is strong at 7.51 TTM, indicating efficient cash generation relative to earnings. However, the free cash flow to net income ratio of 2.66 TTM suggests some volatility in cash flow management.65
Positive
| Breakdown | |||||
| TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 441.21M | 464.83M | 419.45M | 328.46M | 206.70M | 172.35M | Gross Profit |
| 177.98M | 181.59M | 180.25M | 126.44M | 90.88M | 79.49M | EBIT |
| 40.55M | 44.82M | 54.18M | 39.87M | 38.38M | 39.15M | EBITDA |
| 46.74M | 55.46M | 61.09M | 40.03M | 37.04M | 29.58M | Net Income Common Stockholders |
| 2.58M | 3.24M | 18.78M | -7.20M | -6.87M | 3.36M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 337.00K | 56.17M | 60.05M | 38.61M | 46.78M | 51.57M | Total Assets |
| 118.32M | 850.63M | 818.06M | 518.22M | 394.59M | 297.56M | Total Debt |
| 107.73M | 270.95M | 257.41M | 169.79M | 174.58M | 149.09M | Net Debt |
| 107.39M | 226.47M | 209.28M | 136.31M | 138.53M | 106.57M | Total Liabilities |
| 92.25K | 501.06M | 487.56M | 359.92M | 304.30M | 236.81M | Stockholders Equity |
| 118.23M | 314.01M | 298.85M | 127.61M | 67.74M | 46.18M |
| Cash Flow | Free Cash Flow | ||||
| 8.87M | 18.93M | -19.97M | -26.51M | -20.13M | 4.82M | Operating Cash Flow |
| 24.51M | 41.72M | 2.59M | -17.52M | -6.21M | 9.32M | Investing Cash Flow |
| -19.77M | -28.73M | -25.73M | 2.90M | -8.31M | -7.80M | Financing Cash Flow |
| 5.75M | -10.06M | 32.95M | 14.82M | 7.36M | 33.53M |
Bioceres Crop Solutions Technical Analysis
Negative
4.80
Price Trends
5.81
Negative
6.25
Negative
8.13
Negative
Market Momentum
-0.26
Negative
44.97
Neutral
79.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BIOX, the sentiment is Negative. The current price of 4.8 is above the 20-day moving average (MA) of 4.63, below the 50-day MA of 5.81, and below the 200-day MA of 8.13, indicating a neutral trend. The MACD of -0.26 indicates Negative momentum. The RSI at 44.97 is Neutral, neither overbought nor oversold. The STOCH value of 79.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BIOX.
Bioceres Crop Solutions Risk Analysis
Bioceres Crop Solutions disclosed 75 risk factors in its most recent earnings report. Bioceres Crop Solutions reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bioceres Crop Solutions Peers Comparison
Overall Rating
UnderperformOutperform
Sector (47)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $13.03B | 11.40 | 22.76% | 2.60% | -10.48% | -13.78% | |
71 Outperform | $41.11B | 46.02 | 3.49% | 1.10% | -1.85% | 26.00% | |
63 Neutral | $5.17B | 15.26 | 9.02% | 5.82% | -5.36% | -74.25% | |
63 Neutral | $7.88B | 45.58 | 1.47% | 3.38% | -18.79% | -84.24% | |
60 Neutral | $23.33B | 13.86 | 7.78% | 4.13% | -9.01% | -43.53% | |
58 Neutral | $327.35M | 226.96 | 0.51% | ― | -10.30% | -93.51% | |
47 Neutral | $2.64B | -3.82 | -29.05% | 3.32% | 2.72% | -29.50% |
* Basic Materials Sector Average
Performance Comparison
BIOX
Bioceres Crop Solutions
4.80
-8.01
-62.53%
ADM
Archer Daniels Midland
47.08
-9.01
-16.06%
CF
Cf Industries Holdings
76.82
-4.98
-6.09%
FMC
FMC
39.84
-21.69
-35.25%
MOS
Mosaic Co
24.69
-5.94
-19.39%
CTVA
Corteva
59.00
4.42
8.10%
Bioceres Crop Solutions Earnings Call Summary
Earnings Call Date: Feb 11, 2025 | % Change Since: -13.51% | Next Earnings Date: May 8, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with significant revenue and EBITDA declines due to challenges in Argentina. However, the company showed resilience with improved gross margins, stable market share, and successful geographic diversification. Strategic changes, including new partnerships and leadership appointments, are set to drive future growth and profitability.Highlights
Gross Margin Improvement
Despite a revenue decline, gross margin expanded from 37% to 42% due to a better product mix and reduced sales of lower-margin products.
Market Share Stability
The company maintained or slightly increased market share in key product families despite overall market contraction.
Geographic Diversification Success
Sales outside of Argentina grew, particularly in markets like Brazil, the US, Mexico, the Andean region, and Uruguay, supporting the company's diversification strategy.
Strategic Partnerships
New agreements with GDM for soybeans and Florimond Desprez for wheat to transition to a capital-light business model.
Appointment of New Chief Commercial Officer
Milen Marinov appointed as the new Chief Commercial Officer, expected to accelerate profitable growth and streamline commercial operations.
Lowlights
Revenue Decline
Total revenues for the quarter were $106 million, down by 24% compared to the year-ago quarter, primarily due to difficulties in the Argentine market.
Adjusted EBITDA Decrease
Adjusted EBITDA fell to $15.4 million from $24 million in the year-ago quarter, driven by lower gross profit in Crop Protection and increased operating expenses in Argentina.
Challenges in Argentina
Sales performance in Argentina, a key market, was affected by lower commodity prices and reduced farmer income, leading to a significant decline in revenue from the region.
Debt Increase
Total net debt increased to $238 million, with a leverage ratio now standing at 3.3, above the three turns target.
Crop Protection Revenue Drop
Revenues in the Crop Protection segment fell from $71 million to just above $55 million, largely due to the Argentine market downturn.
Company Guidance
In the Bioceres Crop Solutions fiscal second quarter 2025 earnings call, several key metrics and strategic changes were discussed. The company reported a 24% decline in revenues to $106 million, primarily due to challenging conditions in Argentina, which remains their primary market. Despite this, gross margins improved from 37% to 42%. Adjusted EBITDA for the quarter was $15.4 million, down from approximately $24 million in the year-ago quarter. The company also noted a strategic shift in their seed business, exiting breeding, seed production, and commercialization to focus on partnering with companies like GDM and Florimond Desprez. Additionally, Bioceres appointed Milen Marinov as the new Chief Commercial Officer, highlighting a move towards streamlining commercial operations. The company’s net debt increased to $238 million with a leverage ratio of 3.3. They managed to lower inventory levels by 18% year-over-year, aligning with a strategy to improve cash generation and capital allocation.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.