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Side-by-side financial comparison of Adecoagro S.A. (AGRO) and MARA Holdings, Inc. (MARA). Click either name above to swap in a different company.

Adecoagro S.A. is the larger business by last-quarter revenue ($304.2M vs $202.3M, roughly 1.5× MARA Holdings, Inc.). Adecoagro S.A. runs the higher net margin — 2.1% vs -14298.3%, a 14300.4% gap on every dollar of revenue. On growth, MARA Holdings, Inc. posted the faster year-over-year revenue change (-5.6% 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.

MARA Holdings, Inc. is an American digital asset technology and cryptocurrency mining company headquartered in Fort Lauderdale, Florida. Founded in 2010, the company initially operated as a patent holding company before pivoting in the late 2010s to focus on blockchain infrastructure and digital assets.

AGRO vs MARA — Head-to-Head

Bigger by revenue
AGRO
AGRO
1.5× larger
AGRO
$304.2M
$202.3M
MARA
Growing faster (revenue YoY)
MARA
MARA
+29.8% gap
MARA
-5.6%
-35.5%
AGRO
Higher net margin
AGRO
AGRO
14300.4% more per $
AGRO
2.1%
-14298.3%
MARA

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
AGRO
AGRO
MARA
MARA
Revenue
$304.2M
$202.3M
Net Profit
$6.4M
$-1.7B
Gross Margin
35.1%
Operating Margin
18.7%
-11795.9%
Net Margin
2.1%
-14298.3%
Revenue YoY
-35.5%
-5.6%
Net Profit YoY
-65.7%
-423.5%
EPS (diluted)
$0.07
$-4.25

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
MARA
MARA
Q4 25
$202.3M
Q3 25
$304.2M
$252.4M
Q2 25
$238.5M
Q1 25
$213.9M
Q4 24
$214.4M
Q3 24
$471.5M
$131.6M
Q2 24
$145.1M
Q1 24
$165.2M
Net Profit
AGRO
AGRO
MARA
MARA
Q4 25
$-1.7B
Q3 25
$6.4M
$123.1M
Q2 25
$808.2M
Q1 25
$-533.4M
Q4 24
$528.5M
Q3 24
$18.7M
$-124.8M
Q2 24
$-199.7M
Q1 24
$337.2M
Gross Margin
AGRO
AGRO
MARA
MARA
Q4 25
Q3 25
35.1%
Q2 25
Q1 25
Q4 24
-2613.4%
Q3 24
25.1%
-1065.0%
Q2 24
-587.6%
Q1 24
-289.4%
Operating Margin
AGRO
AGRO
MARA
MARA
Q4 25
-11795.9%
Q3 25
18.7%
18.9%
Q2 25
Q1 25
-253.0%
Q4 24
Q3 24
6.3%
-130.8%
Q2 24
-160.1%
Q1 24
Net Margin
AGRO
AGRO
MARA
MARA
Q4 25
-14298.3%
Q3 25
2.1%
48.8%
Q2 25
338.9%
Q1 25
-249.4%
Q4 24
5367.4%
Q3 24
4.0%
-94.8%
Q2 24
-137.6%
Q1 24
204.1%
EPS (diluted)
AGRO
AGRO
MARA
MARA
Q4 25
$-4.25
Q3 25
$0.07
$0.27
Q2 25
$1.84
Q1 25
$-1.55
Q4 24
$1.60
Q3 24
$0.19
$-0.42
Q2 24
$-0.72
Q1 24
$1.26

Balance Sheet & Financial Strength

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

Metric
AGRO
AGRO
MARA
MARA
Cash + ST InvestmentsLiquidity on hand
$340.0M
$547.1M
Total DebtLower is stronger
$3.6B
Stockholders' EquityBook value
$1.4B
$3.5B
Total Assets
$3.6B
$7.3B
Debt / EquityLower = less leverage
1.04×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AGRO
AGRO
MARA
MARA
Q4 25
$547.1M
Q3 25
$340.0M
$826.4M
Q2 25
$109.5M
Q1 25
$196.2M
Q4 24
$391.8M
Q3 24
$198.3M
$164.3M
Q2 24
$256.0M
Q1 24
$324.3M
Total Debt
AGRO
AGRO
MARA
MARA
Q4 25
$3.6B
Q3 25
$3.2B
Q2 25
$2.3B
Q1 25
$2.3B
Q4 24
$2.4B
Q3 24
$618.7M
Q2 24
Q1 24
Stockholders' Equity
AGRO
AGRO
MARA
MARA
Q4 25
$3.5B
Q3 25
$1.4B
$5.2B
Q2 25
$4.8B
Q1 25
$3.7B
Q4 24
$4.1B
Q3 24
$1.4B
$2.9B
Q2 24
$2.6B
Q1 24
$2.5B
Total Assets
AGRO
AGRO
MARA
MARA
Q4 25
$7.3B
Q3 25
$3.6B
$9.2B
Q2 25
$7.7B
Q1 25
$6.4B
Q4 24
$6.8B
Q3 24
$3.6B
Q2 24
$3.1B
Q1 24
$3.0B
Debt / Equity
AGRO
AGRO
MARA
MARA
Q4 25
1.04×
Q3 25
0.63×
Q2 25
0.47×
Q1 25
0.62×
Q4 24
0.59×
Q3 24
0.22×
Q2 24
Q1 24

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
MARA
MARA
Operating Cash FlowLast quarter
$138.7M
$-802.7M
Free Cash FlowOCF − Capex
$-1.2B
FCF MarginFCF / Revenue
-598.0%
Capex IntensityCapex / Revenue
201.2%
Cash ConversionOCF / Net Profit
21.58×
TTM Free Cash FlowTrailing 4 quarters
$-2.0B

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AGRO
AGRO
MARA
MARA
Q4 25
$-802.7M
Q3 25
$138.7M
$-199.0M
Q2 25
$-163.4M
Q1 25
$-215.5M
Q4 24
$-677.0M
Q3 24
$164.9M
$-160.1M
Q2 24
$-115.2M
Q1 24
$-88.3M
Free Cash Flow
AGRO
AGRO
MARA
MARA
Q4 25
$-1.2B
Q3 25
$-283.9M
Q2 25
$-282.4M
Q1 25
$-254.3M
Q4 24
$-927.8M
Q3 24
$-198.1M
Q2 24
$-132.4M
Q1 24
$-97.4M
FCF Margin
AGRO
AGRO
MARA
MARA
Q4 25
-598.0%
Q3 25
-112.5%
Q2 25
-118.4%
Q1 25
-118.9%
Q4 24
-432.8%
Q3 24
-150.5%
Q2 24
-91.2%
Q1 24
-59.0%
Capex Intensity
AGRO
AGRO
MARA
MARA
Q4 25
201.2%
Q3 25
33.6%
Q2 25
49.9%
Q1 25
18.2%
Q4 24
117.0%
Q3 24
28.9%
Q2 24
11.9%
Q1 24
5.5%
Cash Conversion
AGRO
AGRO
MARA
MARA
Q4 25
Q3 25
21.58×
-1.62×
Q2 25
-0.20×
Q1 25
Q4 24
-1.28×
Q3 24
8.81×
Q2 24
Q1 24
-0.26×

Financial Flow Comparison

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

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