Ag Growth International (AFN) AI Stock Analysis

• Market Cap: C$544.08M
• Dividend Yield: 2.62%
• Average Volume (3M): 56.24K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.10
• Revenue Growth: -5.64%
• EPS Growth: -121.91%
• Country: CA
• Employees: 3,679
• Sector: Industrials
• Sector Strength: 72
• Industry: Agricultural - Machinery
• EPS (TTM): N/A
• Shares Outstanding: 18,800,190
• 10 Day Avg. Volume: 59,727
• 30 Day Avg. Volume: 56,245
• PEG Ratio: 0.38
• Price to Book (P/B): 3.24
• Price to Sales (P/S): 0.69
• P/FCF Ratio: 12.23
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$39.00
• Price Target Upside: 45.79% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: C$26.00 ▼(-2.80% Downside)

The score is primarily held down by weak financial quality—high leverage, recent net losses, and negative TTM operating/free cash flow. Technicals are moderately supportive in the near term, while valuation is constrained by negative earnings; the earnings call adds a modest offset due to liquidity/FCF improvement plans for 2026 but with clear execution and controls-related risks.

Positive Factors

Diversified ag equipment franchise

A broad product portfolio across grain handling, storage, conditioning and feed/fertilizer markets gives durable demand exposure to core agriculture. Recurring aftermarket parts and services plus international sales diversify revenue streams and reduce single‑market dependency over the medium term.

Commercial backlog and margin expansion

A sizable, higher‑margin commercial order book provides multi‑period revenue visibility and supports margin sustainability versus cyclical farm equipment sales. Large project wins (notably Brazil) underpin medium‑term cashflows and justify further investment in commercial capabilities despite lumpiness.

Operational discipline & systems upgrades

Consolidations, product rationalization and ERP rollout are structural initiatives to lower SG&A, improve throughput and tighten working capital cycles. Sustained execution of these efficiency projects should improve margin resilience, reduce operating complexity and support scalable growth over 2–6 months and beyond.

Negative Factors

High financial leverage

Elevated leverage materially limits financial flexibility and increases refinancing and interest expense sensitivity. With earnings volatility in agriculture, the debt-heavy capital structure raises the risk that weaker operating periods will constrain investment, dividend capacity and credit options over the medium term.

Negative operating and free cash flow

A reversal to negative operating and free cash flow reduces the firm's ability to self‑fund capex, pay down debt or absorb cyclical shocks. Reliance on external financing or receivable monetization raises execution risk and could prolong leverage reduction timelines if cash conversion does not normalize.

Material weakness in Brazil controls

An unresolved material weakness in Brazil's internal controls increases audit and compliance risk, may lead to restatements or filing delays, and can hinder investor confidence and financing efforts. Remediation uncertainty adds execution risk to Brazil projects and associated monetization plans.

Ag Growth International Business Overview & Revenue Model

Company Description

Ag Growth International Inc., together with its subsidiaries, manufactures and distributes grain and rice handling, storage, and conditioning equipment in Canada, the United States, and internationally. The company offers storage equipment comprising grain and bolted bins, hopper bins, smooth wall bins, temporary storage equipment, unloads and sweeps, water tanks, fuel tanks; and conditioning equipment, such as mixed flow dryers, fans and heaters, aerations, airaugers, aeration floors, vents and exhausters, stirrings, and accessories. It also provides portable handling equipment, such as portable augers, conveyors, grain vacs, post pounders, seed treaters, and accessories; and permanent handling equipment, including bucket elevators, chain and belt conveyors, enclosed belt conveyors, distributors, feed handling equipment, screw feeders and conveyors, and spouts and connections. In addition, the company offers towers, catwalks, ladders, all-steel buildings, flat storage buildings; batch blenders, bulk scales, declining weight blenders, vertical blenders, micro-dosing systems, mixers, milling equipment; and controllers, hazard monitoring equipment, monitoring and automation equipment, sampling solutions. Further, it provides cleaning and destoners, rice milling and processing equipment, bin unloads, blending and control systems, Liquid and dry fertilizer blending and conveying equipment, turnkey design and build construction solutions for seed and fertilizer facilities, and farm management software. The company markets its products under the AGI, Airlanco, Batco, Brownie, CMC, Compass, Danmare, Ezee-dry, Frame, Grain Guard, Grainmaxx, Hi Roller, Hutchinson, Improtech, Junge, Keho, Mayrath, Milltec, MMS, Neco, PTM, REM, Sabe, Sentinel, Storm, Suretrack, Tramco, Twister, Westeel, Westfield, Wheatheart, and Yargus brand names. It provides its equipment for agricultural commodities. The company was founded in 1996 and is headquartered in Winnipeg, Canada.

How the Company Makes Money

Ag Growth International generates revenue through the sale of its core products, which include grain handling and storage systems, as well as equipment for feed and fertilizer handling. The company's revenue model is primarily based on direct sales to farmers, agricultural cooperatives, and commercial grain handling operations. Key revenue streams include equipment sales, aftermarket services, and parts sales. Additionally, AFN benefits from strategic partnerships with other agricultural businesses, enhancing its market reach and product offerings. The company also engages in international markets, which contributes to diversified revenue sources and reduces dependency on any single market.

Ag Growth International Financial Statement Overview

Summary

Weak overall fundamentals: income statement reflects declining revenues and negative net profit margins (despite slight EBIT/EBITDA efficiency gains), the balance sheet is highly leveraged (debt-to-equity >3 and negative ROE), and cash flow is pressured with sharp free-cash-flow deterioration and weak cash conversion.

Income Statement

Ag Growth International's income statement shows a challenging period with declining revenues and negative net profit margins in the TTM. The gross profit margin remains relatively stable, but the significant drop in revenue growth rate and negative net income indicate financial stress. EBIT and EBITDA margins have improved slightly, suggesting some operational efficiency gains.

Balance Sheet

The balance sheet reflects high leverage with a debt-to-equity ratio exceeding 3, indicating potential financial risk. The return on equity is negative, highlighting profitability challenges. The equity ratio is relatively low, suggesting limited financial stability. These factors point to a need for improved capital management.

Cash Flow

Cash flow analysis reveals a sharp decline in free cash flow growth, raising concerns about liquidity. The operating cash flow to net income ratio is low, indicating potential cash flow issues. The free cash flow to net income ratio is also weak, suggesting limited cash generation relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.41B	1.40B	1.53B	1.46B	1.20B	994.03M
Gross Profit	398.25M	447.99M	479.13M	420.60M	304.01M	206.69M
EBITDA	212.10M	133.62M	223.07M	91.18M	116.11M	25.31M
Net Income	-9.32M	-20.08M	68.89M	-50.58M	10.56M	-61.65M
Balance Sheet
Total Assets	1.75B	1.67B	1.65B	1.65B	1.59B	1.48B
Cash, Cash Equivalents and Short-Term Investments	74.57M	79.89M	88.04M	59.64M	61.31M	62.46M
Total Debt	990.57M	895.16M	906.95M	916.32M	887.23M	842.61M
Total Liabilities	1.43B	1.37B	1.34B	1.38B	1.32B	1.22B
Stockholders Equity	322.53M	298.44M	317.98M	265.67M	268.75M	263.14M
Cash Flow
Free Cash Flow	-58.44M	79.15M	48.95M	49.87M	-6.45M	34.04M
Operating Cash Flow	-29.16M	110.82M	105.63M	102.17M	39.12M	74.17M
Investing Cash Flow	-33.49M	-36.54M	-43.12M	-85.77M	-75.32M	-62.70M
Financing Cash Flow	37.76M	-82.43M	-34.11M	-18.07M	35.05M	2.56M

Ag Growth International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 26.75
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AFN, the sentiment is Positive. The current price of 26.75 is above the 20-day moving average (MA) of 23.68, above the 50-day MA of 24.86, and below the 200-day MA of 34.92, indicating a neutral trend. The MACD of 0.49 indicates Negative momentum. The RSI at 60.04 is Neutral, neither overbought nor oversold. The STOCH value of 51.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:AFN.

Ag Growth International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DRX	73 Outperform	C$262.40M	9.12	16.89%	0.46%	-26.61%	-45.62%
TBL	64 Neutral	C$381.04M	8.43	11.85%	―	2.99%	-12.14%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
VLN	56 Neutral	C$412.28M	-3.04	-27.70%	3.06%	-18.71%	-845.27%
DCM	54 Neutral	C$103.84M	9.87	26.87%	5.99%	-7.01%	―
ANRG	54 Neutral	C$404.39M	-18.75	―	―	28.43%	80.34%
AFN	48 Neutral	C$544.08M	-56.63	-2.30%	2.62%	-5.64%	-121.91%

Ag Growth International Corporate Events

AGI Delivers Q3 Revenue Growth on Commercial Strength, Taps Brazil Financing Vehicle to Bolster Cash Flow

Ag Growth International reported third-quarter 2025 revenue of $389 million, up 9% year over year, and adjusted EBITDA of $71 million, a 4% increase, as strong 48% growth in its Commercial segment offset a 27% revenue decline in the Farm segment. Overall margins narrowed slightly due to the heavier commercial mix, while free cash flow was temporarily pressured by working capital needs tied to large international projects and the company’s net debt leverage ratio remained elevated at 3.9x. Management highlighted the establishment of an investment vehicle in Brazil to monetize financing receivables, which has begun to improve cash flow and is expected to help reduce debt and leverage into early 2026, supporting the execution of large-scale projects for strategic customers. The order book rose 1% year over year to $667 million, underpinned by strong demand in Brazil and wider Latin America, though AGI warned that adjusted EBITDA in the fourth quarter will be weaker than both the prior quarter and prior year amid challenging market conditions, a negative sales mix, higher SG&A, and limited near-term visibility in its Farm segment.

The most recent analyst rating on (TSE:AFN) stock is a Hold with a C$22.00 price target. To see the full list of analyst forecasts on Ag Growth International stock, see the TSE:AFN Stock Forecast page.

Ag Growth International Updates Market on Management Cease Trade Order and Q3 Filing Delay

Ag Growth International Inc. has issued a bi-weekly update on the management cease trade order imposed by the Manitoba Securities Commission following its delay in filing unaudited interim financial statements and related disclosures for the quarter and nine months ended September 30, 2025. The order restricts trading in the company’s securities by its chief executive and chief financial officers but does not limit trading by other shareholders, and AGI reports no new material changes, additional defaults or undisclosed information while it works to complete the required filings, which it expects to submit by mid-January 2026, helping to contain broader market disruption and maintain transparency during the reporting delay.

The most recent analyst rating on (TSE:AFN) stock is a Hold with a C$22.00 price target. To see the full list of analyst forecasts on Ag Growth International stock, see the TSE:AFN Stock Forecast page.

AGI Declares Fourth Quarter 2025 Dividend

Ag Growth International has declared a quarterly cash dividend of $0.15 per common share for Q4 2025, payable on January 12, 2026, to shareholders of record as of December 31, 2025. This announcement reflects the company’s strategic commitment to rewarding shareholders, bolstering its industry position in global food storage and processing sectors, and reinforcing confidence among investors.

The most recent analyst rating on (TSE:AFN) stock is a Hold with a C$21.00 price target. To see the full list of analyst forecasts on Ag Growth International stock, see the TSE:AFN Stock Forecast page.

AGI Updates on Management Cease Trade Order Status

Ag Growth International Inc. (AGI) has issued a status report regarding its management cease trade order (MCTO), which was granted due to a delay in filing its unaudited interim financial statements and related documents. The MCTO restricts trading by the company’s CEO and CFO until the required filings are completed, though it does not affect other shareholders. AGI is working to complete the filings by January 13, 2026, and confirms there have been no material changes or new defaults since the initial announcement.

The most recent analyst rating on (TSE:AFN) stock is a Hold with a C$21.00 price target. To see the full list of analyst forecasts on Ag Growth International stock, see the TSE:AFN Stock Forecast page.

AGI Issues Management Cease Trade Order Amid Filing Delays

Ag Growth International Inc. (AGI) has announced a management cease trade order (MCTO) due to a delay in filing its unaudited interim financial statements for the third quarter of 2025. The MCTO restricts trading by the company’s CEO and CFO but does not affect other shareholders. AGI is working to complete the necessary filings by January 13, 2026, and continues to update stakeholders with bi-weekly status reports. The company assures that there has been no material change in information that would impact investors since the initial announcement.

The most recent analyst rating on (TSE:AFN) stock is a Hold with a C$21.00 price target. To see the full list of analyst forecasts on Ag Growth International stock, see the TSE:AFN Stock Forecast page.

AGI Delays Q3 2025 Financial Results Amid Brazilian Operations Review

Ag Growth International Inc. has announced a delay in filing its third-quarter 2025 financial results due to the need for additional time to finalize accounting treatments related to its operations in Brazil. The company is working closely with auditors and has applied for a management cease trade order to restrict trading by its executives until the filings are completed. This delay has also led to the withdrawal of its previously issued Adjusted EBITDA guidance for the full year 2025, indicating potential impacts on its financial outlook.

The most recent analyst rating on (TSE:AFN) stock is a Sell with a C$30.00 price target. To see the full list of analyst forecasts on Ag Growth International stock, see the TSE:AFN Stock Forecast page.

AGI Reschedules Q3 2025 Results Call Due to Increased International Revenue

Ag Growth International Inc. (AGI) has rescheduled its conference call to discuss third-quarter 2025 results to November 14, 2025, due to auditors needing more time for their review of increased international revenue. This change reflects AGI’s expanding global operations and highlights the company’s growing international market presence.

The most recent analyst rating on (TSE:AFN) stock is a Buy with a C$47.00 price target. To see the full list of analyst forecasts on Ag Growth International stock, see the TSE:AFN Stock Forecast page.