Bioceres Crop Solutions Corp.
BIOXdata completeness 88%9 fiscal years on fileData notes: no data for concept 'interestExpense'
Bioceres Crop Solutions Corp. earns about 3% on invested capital, below its ~9% cost of capital, but has diluted owners by 54% over 5 years — no moat visible in the numbers. The estimate methods put fair value between $9.48 and $10.24 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $209.5M1 | $334.8M2 | $420.1M3 | $464.8M3 | $335.1M3 |
| Net income | −$6.87M4 | −$7.2M5 | $18.8M6 | $4.28M6 | −$55.4M6 |
| Operating cash flow | −$6.21M7 | −$17.5M8 | $2.59M9 | $41.7M9 | $49.9M9 |
| Capital expenditure | $2.81M10 | $3.46M11 | $11.4M12 | $9.79M12 | $5.64M12 |
| Free cash flow (derived) | −$9.01M7 | −$21M8 | −$8.77M9 | $31.9M9 | $44.3M9 |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $36M13 | $33.5M13 | $48.1M14 | $44.5M15 | $32.7M15 |
| Diluted shares | 41.1M | 45.9M | 62.8M | 62.8M | 63.2M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $41.98 of net worth that earned you −$8.76 and generated $7 of cash last year.
It earned about 3% on invested capital against a ~9% cost of capital — below the cost of funding. The numbers show no moat.
seeing a moat in the numbers →Share count is up 54% over 5 years — owners have been diluted. Worth asking what they got for it.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 2 estimate methods that apply put fair value between $9.48 and $10.24 a share. They rest on different assumptions, so where they diverge is the story.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$31.9M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$31.9M
Different models answer different questions — which to trust when →
| Bear | 0.0% | $7.73 |
| Base | 5.0% | $9.48 |
| Bull | 10.0% | $11.57 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 20-F · period ending 2021-06-30 · accession 0001104659-23-117743 (Revenue)
- 20-F · period ending 2022-06-30 · accession 0001104659-24-112589 (Revenue)
- 20-F · period ending 2023-06-30 · accession 0001104659-25-108999 (Revenue)
- 20-F · period ending 2021-06-30 · accession 0001104659-23-117743 (ProfitLossAttributableToOwnersOfParent)
- 20-F · period ending 2022-06-30 · accession 0001104659-24-112589 (ProfitLossAttributableToOwnersOfParent)
- 20-F · period ending 2023-06-30 · accession 0001104659-25-108999 (ProfitLossAttributableToOwnersOfParent)
- 20-F · period ending 2021-06-30 · accession 0001104659-23-117743 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2022-06-30 · accession 0001104659-24-112589 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2023-06-30 · accession 0001104659-25-108999 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2021-06-30 · accession 0001104659-23-117743 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2022-06-30 · accession 0001104659-24-112589 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2023-06-30 · accession 0001104659-25-108999 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2021-06-30 · accession 0001104659-23-117743 (CashAndCashEquivalents)
- 20-F · period ending 2023-06-30 · accession 0001104659-24-112589 (CashAndCashEquivalents)
- 20-F · period ending 2024-06-30 · accession 0001104659-25-108999 (CashAndCashEquivalents)