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olivLaw · US equity research

Bioceres Crop Solutions Corp. BIOX

Agricultural Chemicals · SIC 2870 · Vertical: Agricultural Chemicals (SIC 2870)

0.25USD+12.12% · 1 dayClose 04 Nov 2026

Bioceres Crop Solutions develops and commercializes biotechnology-based crop productivity solutions, from seeds and microbial inoculants to biological and next-generation nutrition and protection products. In fiscal 2025 the company reported revenues of 335.1 million USD, down from 464.8 million USD a year earlier, amid significant pressure on its debt.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, Bioceres Crop Solutions Corp. (BIOX) stock was 0.25 USD (+12.12% on the day), with market capitalisation 16.2 m USD, dividend yield 0.45%, beta 1.23, 52-week range 0.20–1.93 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
16.2 m USD
shares as of 30 Jun 2026
P/E (TTM)
unavailable
Diluted EPS TTM -0.88 · TTM to 30 Jun 2025
E/P (TTM)
-345.86%
TTM to 30 Jun 2025
Dividend yield
0.45%
DPS 12m 0.00
Beta (2y)
1.23
Volatility (1y) 101%
52-week range
0.201.93

Price history

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Technical reading

RSI (14)
43.8
weak (30–45)
Bollinger (20, 2)
0.18 – 0.34
in the lower half of the band · %B 0.44 · band width 61.4%
SMA 50 / 200
0.34 / 0.45
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.03 / -0.03
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−26.8%−1.1%−25.7 pp—
3 months−30.4%−0.5%−29.9 pp—
6 months−47.4%+4.4%−51.8 pp—
Year to date−80.7%+12.3%−93.0 pp—
1 year−85.7%+13.5%−99.2 pp−10.3%
3 years−97.6%+76.4%−174.0 pp−24.4%
5 years−98.0%+63.7%−161.7 pp—
Max drawdown (1y)
−89.5%
11 Nov 2025 → 26 Oct 2026
Max drawdown (5y)
−98.7%
17 Nov 2021 → 26 Oct 2026
Compound annual growth (5y)
−54.5%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year2018201920202021⚠ 2022202320242025
Revenue133.5 m160.6 m173.1 m209.5 m334.8 m420.1 m464.8 m335.1 m
Revenue YoYunavailable+20.3%+7.8%+21.0%—+25.4%+10.6%−27.9%
Net income-11.0 m-18.4 m3.4 m-6.9 m-7.2 m18.8 m4.3 m-55.4 m
Net income YoYunavailableunavailableunavailable−304.5%—unavailable−77.2%−1,396.1%
Diluted EPS-0.39-0.600.09-0.18-0.170.300.07-0.88
Diluted EPS YoYunavailableunavailableunavailable−290.0%—unavailable−77.4%−1,402.2%
net %-8.3%-11.4%1.9%-3.3%-2.2%4.5%0.9%-16.5%
Free cash flow15.6 m27.7 m7.7 m-9.0 m-21.0 m-8.8 m31.9 m44.3 m

The series breaks before 2022: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 30 Jun 2025

Cash
32.7 m USD
Financial debt
157.9 m USD
Net debt
125.2 m USD
Equity
295.2 m USD
Total assets
763.6 m USD
Debt / equity
0.53x
Current ratio
0.91x
ROE
-17.1%
ROA
-6.9%
FCF margin
13.2%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
420.1 m
2024
464.8 m
2025
335.1 m

SEC (XBRL)· 10 Nov 2025verified

Cost of revenue
2023
235.5 m
2024
278.2 m
2025
203.4 m

SEC (XBRL)· 10 Nov 2025verified

Gross profit
2023
184.6 m
2024
186.6 m
2025
131.7 m

SEC (XBRL)· 10 Nov 2025verified

Research & development
2023
15.3 m
2024
17.2 m
2025
14.9 m

SEC (XBRL)· 10 Nov 2025verified

Operating income
2023
54.2 m
2024
45.9 m
2025
-2.2 m

SEC (XBRL)· 10 Nov 2025verified

Interest expense
2023
23.8 m
2024
26.9 m
2025
28.8 m

SEC (XBRL)· 10 Nov 2025verified

Pre-tax income
2023
19.1 m
2024
11.1 m
2025
-57.6 m

SEC (XBRL)· 10 Nov 2025verified

Income tax
2023
-1.1 m
2024
3.8 m
2025
1.3 m

SEC (XBRL)· 10 Nov 2025verified

Net income
2023
18.8 m
2024
4.3 m
2025
-55.4 m

SEC (XBRL)· 10 Nov 2025verified

Diluted EPS
2023
0.30
2024
0.07
2025
-0.88

SEC (XBRL)· 10 Nov 2025verified

Weighted average diluted shares
2023
63.2 m
2024
63.5 m
2025
63.2 m

SEC (XBRL)· 10 Nov 2025verified

Dividend per share
2023
0.01
2024
0.00
2025
0.00

SEC (XBRL)· 10 Nov 2025derived

Balance sheet · USD

Cash
2023
48.1 m
2024
44.5 m
2025
32.7 m

SEC (XBRL)· 10 Nov 2025verified

Receivables
2023
158.0 m
2024
207.3 m
2025
—

SEC (XBRL)· 30 Oct 2024verified

Inventories
2023
140.4 m
2024
125.9 m
2025
87.6 m

SEC (XBRL)· 10 Nov 2025verified

Current assets
2023
397.1 m
2024
408.7 m
2025
308.3 m

SEC (XBRL)· 10 Nov 2025verified

Property, plant & equipment, net
2023
67.9 m
2024
74.6 m
2025
74.6 m

SEC (XBRL)· 10 Nov 2025verified

Goodwill
2023
112.2 m
2024
112.2 m
2025
112.2 m

SEC (XBRL)· 10 Nov 2025verified

Intangibles (excl. goodwill)
2023
173.8 m
2024
176.9 m
2025
181.2 m

SEC (XBRL)· 10 Nov 2025verified

Total assets
2023
818.1 m
2024
852.5 m
2025
763.6 m

SEC (XBRL)· 10 Nov 2025verified

Accounts payable
2023
150.8 m
2024
168.7 m
2025
96.4 m

SEC (XBRL)· 10 Nov 2025verified

Short-term debt
2023
107.6 m
2024
136.7 m
2025
119.7 m

SEC (XBRL)· 10 Nov 2025verified

Long-term debt
2023
60.7 m
2024
42.1 m
2025
38.2 m

SEC (XBRL)· 10 Nov 2025verified

Current liabilities
2023
298.7 m
2024
329.3 m
2025
338.0 m

SEC (XBRL)· 10 Nov 2025verified

Total liabilities
2023
487.6 m
2024
501.2 m
2025
468.4 m

SEC (XBRL)· 10 Nov 2025verified

Equity
2023
330.5 m
2024
351.4 m
2025
295.2 m

SEC (XBRL)· 10 Nov 2025verified

Shares outstanding at year end
2023
62.8 m
2024
62.8 m
2025
63.2 m

SEC (XBRL)· 10 Nov 2025verified

Cash flow · USD

Operating cash flow
2023
2.6 m
2024
41.7 m
2025
49.9 m

SEC (XBRL)· 10 Nov 2025verified

Capex
2023
11.4 m
2024
9.8 m
2025
5.6 m

SEC (XBRL)· 10 Nov 2025verified

Free cash flow
2023
-8.8 m ≈
2024
31.9 m ≈
2025
44.3 m ≈

SEC (XBRL)· 10 Nov 2025derived

Investing cash flow
2023
-25.7 m
2024
-28.7 m
2025
-6.1 m

SEC (XBRL)· 10 Nov 2025verified

Financing cash flow
2023
33.0 m
2024
-10.1 m
2025
-50.7 m

SEC (XBRL)· 10 Nov 2025verified

Dividends paid
2023
452.1 k
2024
174.8 k
2025
72.1 k

SEC (XBRL)· 10 Nov 2025verified

Share repurchases
2023
3.0 m
2024
734.4 k
2025
926.9 k

SEC (XBRL)· 10 Nov 2025verified

Computed indicators

Growth

Revenue growth (YoY)
-27.9%
computed by olivLawFY 2025
Revenue CAGR 3Y
0.0%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
14.1%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
-104.9%
computed by olivLawFY 2025
Net income growth (YoY)
-1,396.1%
computed by olivLawFY 2025
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
-1,402.2%
computed by olivLawFY 2025
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
38.6%
computed by olivLawFY 2025

Profitability

Gross margin
39.3%
computed by olivLawFY 2025
EBITDA margin
unavailable
input data missing
EBIT margin
-0.7%
computed by olivLawFY 2025
Net margin
-16.5%
computed by olivLawFY 2025
FCF margin
13.2%
computed by olivLawFY 2025

Returns

ROE
-19.1%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
ROA
-6.9%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
ROIC
-0.4%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
ROCE
-0.5%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
Payout ratio (EPS)
unavailable
insufficient data
Payout ratio (FCF)
0.2%
computed by olivLawFY 2025

Balance sheet

Net debt
125.2 m USD
computed by olivLawbalance sheet at 30 Jun 2025
Net debt / EBITDA
unavailable
input data missing
Debt / equity
0.6x
computed by olivLawbalance sheet at 30 Jun 2025
Interest coverage
-0.1x
computed by olivLawFY 2025

Liquidity

Current ratio
0.9x
computed by olivLawbalance sheet at 30 Jun 2025
Quick ratio
0.7x
computed by olivLawbalance sheet at 30 Jun 2025
Cash ratio
0.1x
computed by olivLawbalance sheet at 30 Jun 2025

Cash

Operating cash flow
49.9 m USD
computed by olivLawFY 2025
Capital expenditure
5.6 m USD
computed by olivLawFY 2025
Free cash flow
44.3 m USD
computed by olivLawFY 2025
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
192 days
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
Days payables outstanding
238 days
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
16.2 m USD
computed by olivLawbalance sheet at 30 Jun 2025
Enterprise value
141.4 m USD
computed by olivLawbalance sheet at 30 Jun 2025
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-345.9%
computed by olivLawFY 2025
P/B
0.1x
computed by olivLawbalance sheet at 30 Jun 2025
P/S
0.0x
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
insufficient data
EV/Sales
0.4x
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
P/FCF
0.4x
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
FCF yield
273.7%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
Dividend yield
0.4%
computed by olivLawFY 2025
Shareholder yield (distributions)
6.2%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025

Risk

Altman Z
unavailable
input data missing

Valuation

olivLaw classification

Insufficient data
What is missing
  • score weight coverage: 54.2% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

0.25 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 16.2 m USD

Key indicators

Market capitalisation
16.2 m USD
computed by olivLawbalance sheet at 30 Jun 2025
P/E (TTM)
unavailable
insufficient data
P/B
0.1x
computed by olivLawbalance sheet at 30 Jun 2025
EV/EBITDA
unavailable
input data missing
ROE
-19.1%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
Net margin
-16.5%
computed by olivLawFY 2025
Revenue growth (YoY)
-27.9%
computed by olivLawFY 2025
Dividend yield
0.4%
computed by olivLawFY 2025

Coverage and freshness

34/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2025
Latest balance sheet date: 30 Jun 2025
Share count (cover of the latest filing), as of: 30 Jun 2026
Source: SEC (XBRL)published 30 Oct 2026
verified 312derived 3

The data is older than the freshness threshold.

Score by group

54% · Insufficient data

Estimated value range

Low
10.93
USD per share
Mid
16.69
USD per share
High
34.44
USD per share
Price: 0.25 USD
The price is below the range
Potential to the central value: 6,484.9% (value / price − 1)
Margin of safety: 98.5% (1 − price / value)
Agreement between methods: low · 2 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.01 – 68.85 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)21.85 – 68.85 (Mid 33.36)
    WACC 5.4% · starting FCFF 68.5 m USD · terminal value share of EV 87%
    The WACC × g sensitivity gives the method's bounds; these are not probabilities.
    Reverse DCF: no growth between −30% and +40% justifies the price
  • Peers: EV/EBITDAunavailable · input data missing
  • Peers: P/Eunavailable · the base of the ratio is not positive
  • Dividend discount (DDM)0.01 – 0.02 (Mid 0.02)
Multiple comparisons use the SIC vertical: Agricultural Chemicals (SIC 2870)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: score weight coverage: 54.2% of at least 60%

FactorValueScoreWeight used
ROIC · Quality-0.4%40 (vs peers)19%
Net margin · Quality-16.5%30 (vs peers)12%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth0.0%0 (on a fixed band)15%
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet-0.1x0 (on a fixed band)12%
Current ratio · Balance sheet0.9x9 (on a fixed band)8%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation273.7%100 (on a fixed band)15%
Shareholder yield (distributions) · Returns6.2%88 (on a fixed band)12%
Payout ratio (FCF) · Returns0.2%100 (on a fixed band)8%

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet4/100 · 2/3 factors with a value
  • Growth· partial0/100 · 1/2 factors with a value
  • Quality36/100 · 2/3 factors with a value
  • Returns93/100 · 2/2 factors with a value
  • Valuation· partial100/100 · 1/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

Bioceres Crop Solutions Corp. (BIOX). Latest full fiscal year: 2025; data up to 2025-06-30.

Figures computed from the financial statements: revenue 335.1 m USD in 2025; YoY growth -27.9%; net margin -16.5%; ROE -19.1%.

The estimated value range is 10.93–34.44 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 16.69 USD, the price of 0.25 USD leaves a potential of 6,484.9% (value / price − 1) and a margin of safety of 98.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

Insufficient data for a verdict (score weight coverage: 54.2% of at least 60%).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • FCF yield: 273.7%
  • Shareholder yield (distributions): 6.2%
  • Payout ratio (FCF): 0.2%
  • The price is below the estimated value range

What contradicts it

  • Net margin: -16.5%
  • Revenue CAGR 3Y: 0.0%
  • Interest coverage: -0.1x
  • Current ratio: 0.9x
  • The valuation methods diverge

Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA.

Versus the vertical median

Agricultural Chemicals (SIC 2870) · same industry (4-digit SIC) · compared with 10 companies

Multiples and returns vs the median

P/E
—
vertical median 13.3x
EV/EBITDA
—
vertical median 6.4x
P/S
0.0x
vertical median 1.3x
below median (−96.2%)
P/B
0.1x
vertical median 1.0x
below median (−93.8%)
ROE
-19.1%
vertical median -9.3%
below median
Net margin
-16.5%
vertical median -3.7%
below median
EBIT margin
-0.7%
vertical median 1.5%
below median (−144.3%)
Revenue YoY
-27.9%
vertical median 4.0%
below median (−790.9%)
Net debt/EBITDA
—
vertical median 0.2x
Dividend yield
0.4%
vertical median 3.9%
below median (−88.3%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
NTRNutrien Ltd.41.0 bn15.59.1%8.4%+3.5%+24% / +35%
CFCf Industries Holdings, Inc.16.9 bn7.946.7%32.3%+19.3%+42% / +49%
MOSMosaic Co6.9 bn—-9.3%-9.4%+8.4%−12% / −40%
ICLIcl Group Ltd.5.9 bn25.43.9%3.2%+4.6%−18% / −9%
SMGScotts Miracle-Gro Co3.9 bn55.8—2.1%−3.9%+19% / +21%
UANCvr Partners, LP1.2 bn11.1—16.1%+15.4%+16% / +64%
AVDAmerican Vanguard Corporation28.8 m—-26.5%-10.7%−5.9%−79% / −90%
BIOXBioceres Crop Solutions Corp.16.2 m—-19.1%-16.5%−27.9%−86% / −98%
SNESSenestech, Inc.6.6 m—-107.4%-294.7%+19.6%−58% / −87%
CBUSCibus, Inc.6.2 m—-225.9%-2,258.9%−14.6%−9% / −90%
EVGNEvogene Ltd.3.1 m0.3—-220.2%−30.9%−66% / −95%

1- and 3-year price returns: for BIOX from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 10 Nov 2025; since then the company filed 20-F (30 Oct 2026), 6-K (21 Sept 2026), 6-K (16 Sept 2026), 6-K (22 Jun 2026), 6-K (01 Jun 2026), 6-K (12 May 2026).

    In brief

    Bioceres Crop Solutions develops and commercializes biotechnology-based crop productivity solutions, from seeds and microbial inoculants to biological and next-generation nutrition and protection products. In fiscal 2025 the company reported revenues of 335.1 million USD 1, down from 464.8 million USD a year earlier 1, amid significant pressure on its debt.

    SWOT

    Strengths

    • The company has a broad portfolio of patents, brands and biological products built on an integrated technology platform 1.
    • Relationships with farmers and distributors provide a commercial channel and rapid market access for new products 1.
    • The collaboration and joint venture model reduces capital exposure in developing new technologies 1.

    Weaknesses

    • The company reported a net loss in fiscal 2025 and a negative operating result 1.
    • Debt is high and part of the interest is capitalized, adding pressure on liquidity 1.
    • Revenue is concentrated seasonally and depends on weather conditions and agricultural commodity prices 1.

    Opportunities

    • Expanding the HB4 licensing model could generate revenue without the direct costs of selling seeds 1.
    • Demand for biological solutions with lower environmental impact could support growth of the portfolio 1.
    • Partnerships with global distributors could facilitate entry into new markets, including Europe 1.

    Threats

    • Economic and political instability in Argentina and other Latin American countries could affect operations and results 1.
    • Changes in export duty rules, currency controls or patent regimes could affect costs and revenues 1.
    • If debt obligations cannot be met, lenders could accelerate repayment and enforce their security interests 1.

    Risks

    • Covenant breaches and debt reclassificationhigh

      The company reported breaches of certain financial covenants, and part of its notes was reclassified as a current liability 1. Future breaches could lead to accelerated repayment 1.

    • Liquidity and need for additional capitalhigh

      The company states it will need additional capital, and access to financing on acceptable terms is not assured 1.

    • Dependence on the licensed HB4 technologymedium

      The seed business depends on a licensed technology that is subject to termination provisions, and the shift from direct sales to licensing is a complex process 1.

    • Exposure to Latin Americahigh

      Macroeconomic, currency and fiscal risks in Argentina and Brazil could affect revenues and margins 1.

    • Weather and seasonalitymedium

      Unusual weather conditions could delay orders and change quarterly results 1.

    Investment thesis

    What would need to be true (bull case)

    • If the shift to licensing reduces fixed costs, the company could improve margins and achieve a more predictable revenue stream 1.
    • A large portfolio of patents, brands and biological products could support a competitive position in regenerative agriculture 1.
    • Partnerships with global players such as Syngenta could bring payments and co-funding for research, easing capital pressure 1.

    What would break the thesis

    • The net loss and negative operating result in fiscal 2025 could indicate difficulty converting revenue into profit 1.
    • High-interest debt and covenant breaches could limit financial flexibility and could force asset sales 1.
    • Exposure to volatile Latin American economies could continue to weigh on demand and customers' ability to pay 1.

    What to watch

    • Revenue from HB4 licensing and the Syngenta agreements2027
    • Seasonal quarterly results and the evolution of Adjusted EBITDAQ1 2027
    • Convertible notes and cash interest payments2027

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 10 Nov 2025; since then the company filed 20-F (30 Oct 2026), 6-K (21 Sept 2026), 6-K (16 Sept 2026), 6-K (22 Jun 2026), 6-K (01 Jun 2026), 6-K (12 May 2026).

    The business

    Bioceres Crop Solutions Corp. is a Cayman Islands company with principal executive offices in Rosario, Argentina, which presents itself as a leader in developing and commercializing productivity solutions designed to regenerate agricultural ecosystems and make crops more resilient to climate change 1. Its portfolio includes more than 1,600 brands and more than 650 registered products, and its inputs are marketed in more than 45 countries, mainly in South America, the United States and Europe 1. The business model relies on partnerships, joint ventures and acquisitions, which reduce capital exposure in technology development 1. In fiscal 2025 the company moved its HB4 technology to a licensing model, ending direct branded seed sales 1.

    Activity is highly seasonal, with sales concentrated in the third and fourth calendar quarters, aligned with the South American summer planting season and the Northern Hemisphere summer season 1. The company also describes exposure to agricultural commodity prices, weather conditions and macroeconomic volatility in Latin America, including Argentina, where hyperinflation accounting applied until July 2022 1. The financing structure includes convertible and non-convertible notes with high interest rates, part of which is paid in kind 1.

    Segments

    Biological crop nutrition and protection

    This line includes seed inoculants, biofertilizers, biostimulants and a full range of biocontrol products such as bionematicides, biofungicides and bioinsecticides 1. The exclusive global distribution agreement with Syngenta for Rizobacter seed treatment solutions is an important reference point 1.

    Seed and genetic technologies

    The company offers seed germplasm, GMO and non-GMO traits and ready-to-use seed pack solutions 1. In fiscal 2025 the seed business was restructured, with the HB4 technology now licensed to breeding organizations such as Grupo Don Mario and the Colorado Wheat Research Foundation 1.

    Market context

    The company describes the biological agriculture market as a dynamic segment of agriculture focused on reducing agriculture's impact on climate change and biodiversity loss 1. Demand depends on agricultural commodity prices, input costs, weather conditions and farmers' planting decisions 1.

    The market is strongly influenced by the economies of Latin America, where the company earns a significant part of its revenue, and by fiscal and currency conditions in Argentina and Brazil 1. Changes in export duties and import controls have altered access to the FX market and operating costs 1.

    Trends

    • Biology as a response to climate changetailwind

      Agricultural companies increasingly seek solutions that lower environmental impact, and biological technologies fit this demand 1. This trend could support adoption of the company's products if farmers change their practices 1.

    • Agricultural policy adjustments in Argentinamixed

      Temporary and then permanent cuts to agricultural export duties, and the elimination of the blend dollar in April 2025, changed the conditions under which export proceeds are settled 1. The effect differs depending on the structure of receipts 1.

    • Pressure from the cost of debtheadwind

      High interest rates and partial payment of interest in kind could increase the balance due at maturity, which could limit financial flexibility 1. The company reported breaches of certain financial covenants 1.

    • Regulation and access to new productsmixed

      Regulatory approvals for products under development can be slow and costly, and delays may affect sales in certain jurisdictions 1. The partnership-based model reduces part of this pressure 1.

    Competitive position

    The company states it faces intense competition in crop productivity products, which requires continuous technological development 1. Competition is present in seeds, biologicals and crop protection alike 1.

    Advantages cited by the company include brands recognized by farmers, access to farmers through its historical shareholders and distribution partnerships with global players such as Syngenta and Corteva 1. Patent protection is considered a competitive advantage but remains exposed to legal and technological challenges 1.

    • Syngenta

      Global exclusive distribution partner for Rizobacter seed treatment products, also referenced as a player in biologicals and seed treatment.

    • Corteva AgriscienceCTVA

      European partner for a bioinsecticide and distributor of seed-applied technologies, which can also compete in the same product categories.

    • Grupo Don Mario

      Soybean breeder that obtained rights to use the Verdeca platform, acting as both a partner and a player in the seed market.

    • Colorado Wheat Research Foundation

      Organization managing access to the HB4 wheat trait in the United States and able to influence distribution in that segment.

    News & filings

    In the press

    The latest news item in our archive is from 15 Sept 2026; the newest SEC filing is from 30 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

    Sources

    1. [1] Form 20-F, fiscal year ended 2025-06-30 · SEC / Bioceres Crop Solutions Corp. · 10 Nov 2025

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.