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Side-by-side financial comparison of Adecoagro S.A. (AGRO) and CMB.TECH NV (CMBT). Click either name above to swap in a different company.

CMB.TECH NV is the larger business by last-quarter revenue ($592.8M vs $304.2M, roughly 1.9× Adecoagro S.A.). CMB.TECH NV runs the higher net margin — 32.3% vs 2.1%, a 30.1% gap on every dollar of revenue. On growth, CMB.TECH NV posted the faster year-over-year revenue change (-34.6% vs -35.5%).

Astra Agro Lestari Tbk. (AAL) is the second biggest palm oil company in Indonesia. It is a subsidiary of PT Astra International Tbk. At least in 2004, it controlled extensive land banks. It has two concessions on peatlands in Riau, with an estimated total area of 20,000 hectares.

CMB.TECH, before October 2024 known as Euronav, is a crude oil tanker transport company, which consists of VLCCs, Suezmaxes and FSOs.

AGRO vs CMBT — Head-to-Head

Bigger by revenue
CMBT
CMBT
1.9× larger
CMBT
$592.8M
$304.2M
AGRO
Growing faster (revenue YoY)
CMBT
CMBT
+0.9% gap
CMBT
-34.6%
-35.5%
AGRO
Higher net margin
CMBT
CMBT
30.1% more per $
CMBT
32.3%
2.1%
AGRO

Income Statement — Q3 FY2025 vs Q4 FY2024

Metric
AGRO
AGRO
CMBT
CMBT
Revenue
$304.2M
$592.8M
Net Profit
$6.4M
$191.2M
Gross Margin
35.1%
Operating Margin
18.7%
46.4%
Net Margin
2.1%
32.3%
Revenue YoY
-35.5%
-34.6%
Net Profit YoY
-65.7%
-63.3%
EPS (diluted)
$0.07
$1.01

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AGRO
AGRO
CMBT
CMBT
Q3 25
$304.2M
Q4 24
$592.8M
Q3 24
$471.5M
Q4 23
$905.9M
Net Profit
AGRO
AGRO
CMBT
CMBT
Q3 25
$6.4M
Q4 24
$191.2M
Q3 24
$18.7M
Q4 23
$521.2M
Gross Margin
AGRO
AGRO
CMBT
CMBT
Q3 25
35.1%
Q4 24
Q3 24
25.1%
Q4 23
Operating Margin
AGRO
AGRO
CMBT
CMBT
Q3 25
18.7%
Q4 24
46.4%
Q3 24
6.3%
Q4 23
63.4%
Net Margin
AGRO
AGRO
CMBT
CMBT
Q3 25
2.1%
Q4 24
32.3%
Q3 24
4.0%
Q4 23
57.5%
EPS (diluted)
AGRO
AGRO
CMBT
CMBT
Q3 25
$0.07
Q4 24
$1.01
Q3 24
$0.19
Q4 23
$2.58

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AGRO
AGRO
CMBT
CMBT
Cash + ST InvestmentsLiquidity on hand
$340.0M
$38.9M
Total DebtLower is stronger
$2.6B
Stockholders' EquityBook value
$1.4B
$1.2B
Total Assets
$3.6B
$3.9B
Debt / EquityLower = less leverage
2.20×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AGRO
AGRO
CMBT
CMBT
Q3 25
$340.0M
Q4 24
$38.9M
Q3 24
$198.3M
Q4 23
$429.4M
Total Debt
AGRO
AGRO
CMBT
CMBT
Q3 25
Q4 24
$2.6B
Q3 24
Q4 23
$930.7M
Stockholders' Equity
AGRO
AGRO
CMBT
CMBT
Q3 25
$1.4B
Q4 24
$1.2B
Q3 24
$1.4B
Q4 23
$2.4B
Total Assets
AGRO
AGRO
CMBT
CMBT
Q3 25
$3.6B
Q4 24
$3.9B
Q3 24
Q4 23
$3.4B
Debt / Equity
AGRO
AGRO
CMBT
CMBT
Q3 25
Q4 24
2.20×
Q3 24
Q4 23
0.39×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AGRO
AGRO
CMBT
CMBT
Operating Cash FlowLast quarter
$138.7M
$204.4M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
21.58×
1.07×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AGRO
AGRO
CMBT
CMBT
Q3 25
$138.7M
Q4 24
$204.4M
Q3 24
$164.9M
Q4 23
$435.8M
Free Cash Flow
AGRO
AGRO
CMBT
CMBT
Q3 25
Q4 24
Q3 24
Q4 23
$65.6M
FCF Margin
AGRO
AGRO
CMBT
CMBT
Q3 25
Q4 24
Q3 24
Q4 23
7.2%
Capex Intensity
AGRO
AGRO
CMBT
CMBT
Q3 25
Q4 24
Q3 24
Q4 23
40.9%
Cash Conversion
AGRO
AGRO
CMBT
CMBT
Q3 25
21.58×
Q4 24
1.07×
Q3 24
8.81×
Q4 23
0.84×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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