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Adecoagro vs Verano: revenue, profit, margins and growth compared

Adecoagro brought in $1.5B of revenue in fiscal 2024, Verano $821.5M in fiscal 2025. Revenue changed by +16.9% at Adecoagro and -6.5% at Verano on the year before, so Adecoagro grew faster. Adecoagro kept 6.1% of its revenue as net profit, Verano -31.4%. Free cash flow was $68.1M at Adecoagro and $11.6M at Verano.

Side by side, latest fiscal year

AGROVRNO
Fiscal year endedFY2024 (December 31, 2024)FY2025 (December 31, 2025)
Revenue$1.5B$821.5M
Revenue growth+16.9%-6.5%
Net income$92.3M-$257.9M
Net margin6.1%-31.4%
Free cash flow$68.1M$11.6M
Free cash flow margin4.5%1.4%
Earnings per share (diluted)$0.90-$0.71
Cash$211.2M$82.7M
Debt$779.6M$399.7M
Price to earningsn/an/a
Market value$1.5B$438.6M
Dividend yieldn/an/a
Rank by revenue in sector#56 of 154 · Consumer staples#70 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: $1.5BVRNO FY2020: $228.5MVRNO FY2022: $737.9MVRNO FY2022: $879.4MVRNO FY2023: $938.5MVRNO FY2024: $878.6MVRNO FY2025: $821.5MFY17FY18FY19FY20FY21FY22FY23FY24FY25
AGRO $1.5BVRNO $821.5M
Net income
AGRO FY2017: $13.2MAGRO FY2018: -$24.6MAGRO FY2019: -$772KAGRO FY2020: $412KAGRO FY2021: $130.7MAGRO FY2022: $108.1MAGRO FY2023: $226.3MAGRO FY2024: $92.3MVRNO FY2020: $38.4MVRNO FY2022: -$57.5MVRNO FY2022: -$269.2MVRNO FY2023: -$117.3MVRNO FY2024: -$341.9MVRNO FY2025: -$257.9MFY17FY18FY19FY20FY21FY22FY23FY24FY25
AGRO $92.3MVRNO -$257.9M
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%VRNO FY2020: 16.8%VRNO FY2022: -7.8%VRNO FY2022: -30.6%VRNO FY2023: -12.5%VRNO FY2024: -38.9%VRNO FY2025: -31.4%FY17FY18FY19FY20FY21FY22FY23FY24FY25
AGRO 6.1%VRNO -31.4%
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%VRNO FY2022: +222.9%VRNO FY2022: +19.2%VRNO FY2023: +6.7%VRNO FY2024: -6.4%VRNO FY2025: -6.5%FY18FY19FY20FY21FY22FY23FY24FY25
AGRO +16.9%VRNO -6.5%
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: $68.1MVRNO FY2020: $11.5MVRNO FY2022: $41.6MVRNO FY2022: -$24.8MVRNO FY2023: $73.4MVRNO FY2024: $13.1MVRNO FY2025: $11.6MFY17FY18FY19FY20FY21FY22FY23FY24FY25
AGRO $68.1MVRNO $11.6M

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

Questions about Adecoagro and Verano

Which is bigger by revenue, Adecoagro or Verano?

Adecoagro is bigger by revenue: $1.5B in fiscal 2024, against $821.5M for Verano in fiscal 2025.

Which keeps more of its revenue as profit, Adecoagro or Verano?

Adecoagro had a net margin of 6.1% in fiscal 2024; Verano had -31.4% in fiscal 2025.

Which grew revenue faster, Adecoagro or Verano?

In their latest fiscal years revenue changed by +16.9% at Adecoagro and -6.5% at Verano.

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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