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Adecoagro vs Green Thumb Industries: revenue, profit, margins and growth compared

Adecoagro brought in $1.5B of revenue in fiscal 2024, Green Thumb Industries $1.2B in fiscal 2025. Revenue changed by +16.9% at Adecoagro and +3.4% at Green Thumb Industries on the year before, so Adecoagro grew faster. Adecoagro kept 6.1% of its revenue as net profit, Green Thumb Industries 9.7%. Free cash flow was $68.1M at Adecoagro and $213.9M at Green Thumb Industries.

Side by side, latest fiscal year

AGROGTBIF
Fiscal year endedFY2024 (December 31, 2024)FY2025 (December 31, 2025)
Revenue$1.5B$1.2B
Revenue growth+16.9%+3.4%
Net income$92.3M$114.2M
Net margin6.1%9.7%
Free cash flow$68.1M$213.9M
Free cash flow margin4.5%18.2%
Earnings per share (diluted)$0.90$0.48
Cash$211.2M$274.3M
Debt$779.6M$247.3M
Price to earningsn/a16.5
Market value$1.5Bn/a
Dividend yieldn/an/a
Rank by revenue in sector#56 of 154 · Consumer staples#67 of 154 · Consumer staples

Over the years

Revenue
AGRO FY2017: $933.2MAGRO FY2018: $793.2MAGRO FY2019: $887.1MAGRO FY2020: $817.8MAGRO FY2021: $1.1BAGRO FY2022: $1.3BAGRO FY2023: $1.3BAGRO FY2024: $1.5BGTBIF FY2018: $62.5MGTBIF FY2020: $216.4MGTBIF FY2020: $556.6MGTBIF FY2021: $893.6MGTBIF FY2022: $1BGTBIF FY2023: $1.1BGTBIF FY2024: $1.1BGTBIF FY2025: $1.2BFY17FY18FY19FY20FY21FY22FY23FY24FY25
AGRO $1.5BGTBIF $1.2B
Net income
AGRO FY2017: $13.2MAGRO FY2018: -$24.6MAGRO FY2019: -$772KAGRO FY2020: $412KAGRO FY2021: $130.7MAGRO FY2022: $108.1MAGRO FY2023: $226.3MAGRO FY2024: $92.3MGTBIF FY2018: -$5.2MGTBIF FY2020: -$59.1MGTBIF FY2020: $15MGTBIF FY2021: $75.4MGTBIF FY2022: $12MGTBIF FY2023: $36.3MGTBIF FY2024: $73.1MGTBIF FY2025: $114.2MFY17FY18FY19FY20FY21FY22FY23FY24FY25
AGRO $92.3MGTBIF $114.2M
Net margin
AGRO FY2017: 1.4%AGRO FY2018: -3.1%AGRO FY2019: -0.1%AGRO FY2020: 0.1%AGRO FY2021: 11.6%AGRO FY2022: 8.0%AGRO FY2023: 17.4%AGRO FY2024: 6.1%GTBIF FY2018: -8.4%GTBIF FY2020: -27.3%GTBIF FY2020: 2.7%GTBIF FY2021: 8.4%GTBIF FY2022: 1.2%GTBIF FY2023: 3.4%GTBIF FY2024: 6.4%GTBIF FY2025: 9.7%FY17FY18FY19FY20FY21FY22FY23FY24FY25
AGRO 6.1%GTBIF 9.7%
Revenue growth
AGRO FY2018: -15.0%AGRO FY2019: +11.8%AGRO FY2020: -7.8%AGRO FY2021: +37.5%AGRO FY2022: +19.9%AGRO FY2023: -3.6%AGRO FY2024: +16.9%GTBIF FY2020: +246.3%GTBIF FY2020: +157.2%GTBIF FY2021: +60.5%GTBIF FY2022: +13.9%GTBIF FY2023: +3.7%GTBIF FY2024: +7.8%GTBIF FY2025: +3.4%FY18FY19FY20FY21FY22FY23FY24FY25
AGRO +16.9%GTBIF +3.4%
Free cash flow
AGRO FY2017: $38.6MAGRO FY2018: $11.4MAGRO FY2019: $69.7MAGRO FY2020: $88.6MAGRO FY2021: $149.4MAGRO FY2022: $152.3MAGRO FY2023: $193.3MAGRO FY2024: $68.1MGTBIF FY2018: -$45.1MGTBIF FY2020: -$106.6MGTBIF FY2020: $36.1MGTBIF FY2021: -$55.8MGTBIF FY2022: -$20.9MGTBIF FY2023: $4.9MGTBIF FY2024: $115MGTBIF FY2025: $213.9MFY17FY18FY19FY20FY21FY22FY23FY24FY25
AGRO $68.1MGTBIF $213.9M

Fiscal years as each company reports them; the two may end in different months.

Questions about Adecoagro and Green Thumb Industries

Which is bigger by revenue, Adecoagro or Green Thumb Industries?

Adecoagro is bigger by revenue: $1.5B in fiscal 2024, against $1.2B for Green Thumb Industries in fiscal 2025.

Which keeps more of its revenue as profit, Adecoagro or Green Thumb Industries?

Adecoagro had a net margin of 6.1% in fiscal 2024; Green Thumb Industries had 9.7% in fiscal 2025.

Which grew revenue faster, Adecoagro or Green Thumb Industries?

In their latest fiscal years revenue changed by +16.9% at Adecoagro and +3.4% at Green Thumb Industries.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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