ebitda
15–20 $million
FY 2024
management target
BIOCERES CROP SOLUTIONS CORP.
Last · NasdaqCM$0.3001-0.0249 (-7.66%)close · yahoo · 15h ago
Market cap$19.15M63.8M sh
P/E · TTM-0.4fwd 0.5 · eps -0.68 · loss
Beta0.47vs S&P 500
Div yield0.00%annual · TTM
52w range
$0.3001$2.19
Volume239.8Ksession
| Revenue | $335.1M |
|---|---|
| Operating income | $-2.2M |
| Net income | $-55.4M |
| Free cash flow | $44.3M |
| Operating margin | -0.7% |
| Net margin | -16.5% |
| Return on equity | -20.9% |
| Period | 2025 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
Strong technology validation is offset by weather-sensitive earnings, execution dependence and above-target leverage.
Hold.
Bioceres’ first-half revenue rose 26% and adjusted EBITDA reached nearly $35 million, up 13% year over year, but Q2 revenue fell 7% pro forma as drought erased an estimated $20–25 million of sales, with roughly half permanently lost. HB4 Wheat’s reported 43% yield advantage in sub-2-tonne environments and a targeted $15–20 million of incremental EBITDA in FY2024 are compelling, but the recovery depends on rainfall, winter acreage and execution while leverage remains elevated at 3.13x net debt/adjusted EBITDA versus the company’s sub-3x target.
Themes
- Argentina Drought
- Hb4 Wheat
- Hb4 Soy
- Pro Farm Integration
- Syngenta Biologicals
- Brazil Expansion
Near term
Rainfall and soil moisture ahead of Argentina’s late-May/June winter planting season will determine recovery of deferred fertilizer, adjuvant and crop-protection sales.
HB4 Wheat rollout and replacement of first-generation varieties with second-generation materials are key tests of whether the reported field performance converts into revenue and EBITDA.
Pro Farm integration must deliver continued cost synergies and reach EBITDA neutrality by the end of FY2023.
Debt composition and deleveraging following the $26.6 million bond issuance remain important after net leverage rose to 3.13x.
Longer term
HB4 Wheat field data are unusually strong: more than 40% average yield improvement in low-yield environments, above-80% win rates in near-isogenic comparisons and roughly 15% improvement in higher-yielding environments with second-generation materials.
Brazilian HB4 Soy multiplication targets seed availability for approximately 10,000 hectares, but the quarter’s $2.2 million contribution was about half the company’s target because drought prevented planting on many fields.
Australia is a potential five-year growth option, but production approval is still pending and management expects roughly two years of regulatory work before commercialization.
The biologicals opportunity is strategically attractive, yet Corteva’s Stoller acquisition and broader industry M&A raise the risk that larger competitors intensify distribution, product and pricing pressure.
Red flags
The drought exposed meaningful earnings sensitivity: Q2 gross profit declined 28%, Argentina margins contracted, and approximately $10–12.5 million of the weather-related revenue headwind appears permanently lost.
HB4 Soy sales of $2.2 million were materially below the company’s roughly $4.4 million target, despite the technology’s drought positioning; insufficient soil moisture still prevents planting.
The bullish HB4 Wheat outlook relies heavily on management-reported field results and successful commercialization, while broader adoption, pricing and regulatory timing remain unquantified.
Management characterized leverage above target as temporary, but the recovery depends on weather and crop acreage rather than purely controllable cost actions.
Forward outlook
Recommendation history
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
From latest 20-F · 2025-11-10
- Net Margin Sharply Negative
Red flags
- Net Margin Sharply Negative — Net margin -16.5%
Upcoming earnings
9:00 PM UTC+1
Period
Sep 2026
Est. EPS
—
Est. revenue
0
Earnings transcripts
- Motley Fool
Bioceres (BIOX) Q4 2026 Earnings Call Transcript
BIOCERES CROP SOLUTIONS CORP.
- Issuer IR
Q4 2026 earnings call transcript
BIOCERES CROP SOLUTIONS CORP.
- Issuer webcast
Q4 2026 earnings call transcript
BIOCERES CROP SOLUTIONS CORP.
- Issuer webcast
Q4 2019 earnings call transcript
BIOCERES CROP SOLUTIONS CORP.
- Issuer IR
Q4 2021 earnings call transcript
BIOCERES CROP SOLUTIONS CORP.
- Issuer IR
Q3 2021 earnings call transcript
BIOCERES CROP SOLUTIONS CORP.
Documents
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