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Side-by-side financial comparison of Adecoagro S.A. (AGRO) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.

Adecoagro S.A. is the larger business by last-quarter revenue ($304.2M vs $187.0M, roughly 1.6× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 2.1%, a 10.1% gap on every dollar of revenue. On growth, National Storage Affiliates Trust posted the faster year-over-year revenue change (-1.6% 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.

National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.

AGRO vs NSA — Head-to-Head

Bigger by revenue
AGRO
AGRO
1.6× larger
AGRO
$304.2M
$187.0M
NSA
Growing faster (revenue YoY)
NSA
NSA
+33.9% gap
NSA
-1.6%
-35.5%
AGRO
Higher net margin
NSA
NSA
10.1% more per $
NSA
12.2%
2.1%
AGRO

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
AGRO
AGRO
NSA
NSA
Revenue
$304.2M
$187.0M
Net Profit
$6.4M
$22.9M
Gross Margin
35.1%
72.5%
Operating Margin
18.7%
20.2%
Net Margin
2.1%
12.2%
Revenue YoY
-35.5%
-1.6%
Net Profit YoY
-65.7%
36.8%
EPS (diluted)
$0.07
$0.23

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
NSA
NSA
Q4 25
$187.0M
Q3 25
$304.2M
$188.7M
Q2 25
$188.8M
Q1 25
$188.4M
Q4 24
$190.1M
Q3 24
$471.5M
$193.6M
Q2 24
$190.4M
Q1 24
$196.1M
Net Profit
AGRO
AGRO
NSA
NSA
Q4 25
$22.9M
Q3 25
$6.4M
$18.4M
Q2 25
$19.5M
Q1 25
$13.0M
Q4 24
$16.7M
Q3 24
$18.7M
$18.7M
Q2 24
$17.1M
Q1 24
$59.0M
Gross Margin
AGRO
AGRO
NSA
NSA
Q4 25
72.5%
Q3 25
35.1%
70.7%
Q2 25
70.5%
Q1 25
70.7%
Q4 24
72.5%
Q3 24
25.1%
72.8%
Q2 24
72.6%
Q1 24
72.1%
Operating Margin
AGRO
AGRO
NSA
NSA
Q4 25
20.2%
Q3 25
18.7%
15.8%
Q2 25
16.5%
Q1 25
11.0%
Q4 24
14.5%
Q3 24
6.3%
15.8%
Q2 24
17.2%
Q1 24
48.9%
Net Margin
AGRO
AGRO
NSA
NSA
Q4 25
12.2%
Q3 25
2.1%
9.8%
Q2 25
10.3%
Q1 25
6.9%
Q4 24
8.8%
Q3 24
4.0%
9.7%
Q2 24
9.0%
Q1 24
30.1%
EPS (diluted)
AGRO
AGRO
NSA
NSA
Q4 25
$0.23
Q3 25
$0.07
$0.17
Q2 25
$0.19
Q1 25
$0.10
Q4 24
$0.19
Q3 24
$0.19
$0.18
Q2 24
$0.16
Q1 24
$0.65

Balance Sheet & Financial Strength

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

Metric
AGRO
AGRO
NSA
NSA
Cash + ST InvestmentsLiquidity on hand
$340.0M
$23.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.4B
$946.0M
Total Assets
$3.6B
$5.1B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AGRO
AGRO
NSA
NSA
Q4 25
$23.3M
Q3 25
$340.0M
$26.3M
Q2 25
$26.1M
Q1 25
$19.3M
Q4 24
$50.4M
Q3 24
$198.3M
$69.9M
Q2 24
$59.0M
Q1 24
$64.2M
Stockholders' Equity
AGRO
AGRO
NSA
NSA
Q4 25
$946.0M
Q3 25
$1.4B
$973.1M
Q2 25
$1.0B
Q1 25
$1.0B
Q4 24
$1.1B
Q3 24
$1.4B
$986.9M
Q2 24
$1.2B
Q1 24
$1.3B
Total Assets
AGRO
AGRO
NSA
NSA
Q4 25
$5.1B
Q3 25
$3.6B
$5.1B
Q2 25
$5.2B
Q1 25
$5.3B
Q4 24
$5.4B
Q3 24
$5.4B
Q2 24
$5.3B
Q1 24
$5.4B

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
NSA
NSA
Operating Cash FlowLast quarter
$138.7M
$338.5M
Free Cash FlowOCF − Capex
$299.8M
FCF MarginFCF / Revenue
160.3%
Capex IntensityCapex / Revenue
20.7%
Cash ConversionOCF / Net Profit
21.58×
14.79×
TTM Free Cash FlowTrailing 4 quarters
$541.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AGRO
AGRO
NSA
NSA
Q4 25
$338.5M
Q3 25
$138.7M
$100.2M
Q2 25
$79.9M
Q1 25
$85.6M
Q4 24
$363.1M
Q3 24
$164.9M
$105.7M
Q2 24
$83.2M
Q1 24
$94.0M
Free Cash Flow
AGRO
AGRO
NSA
NSA
Q4 25
$299.8M
Q3 25
$88.0M
Q2 25
$73.8M
Q1 25
$79.9M
Q4 24
$344.4M
Q3 24
$101.8M
Q2 24
$79.5M
Q1 24
$88.6M
FCF Margin
AGRO
AGRO
NSA
NSA
Q4 25
160.3%
Q3 25
46.6%
Q2 25
39.1%
Q1 25
42.4%
Q4 24
181.2%
Q3 24
52.6%
Q2 24
41.7%
Q1 24
45.2%
Capex Intensity
AGRO
AGRO
NSA
NSA
Q4 25
20.7%
Q3 25
6.5%
Q2 25
3.2%
Q1 25
3.0%
Q4 24
9.8%
Q3 24
2.0%
Q2 24
1.9%
Q1 24
2.7%
Cash Conversion
AGRO
AGRO
NSA
NSA
Q4 25
14.79×
Q3 25
21.58×
5.44×
Q2 25
4.10×
Q1 25
6.59×
Q4 24
21.70×
Q3 24
8.81×
5.65×
Q2 24
4.88×
Q1 24
1.59×

Financial Flow Comparison

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

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