olivLaw · US equity research
American Vanguard Corporation AVD
Agricultural Chemicals · SIC 2870 · Vertical: Agricultural Chemicals (SIC 2870)
American Vanguard is an Irvine, California company that develops and markets products for crop protection, plant nutrition and pest control, both in the US and internationally. The company is in a transformation phase: net sales in fiscal 2025 fell to 515.1 million USD and the net loss was 49.9 million USD, while its 2026 outlook targets sales of 530 - 550 million USD.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, American Vanguard Corporation (AVD) stock was 0.98 USD (−7.05% on the day), with market capitalisation 28.8 m USD, dividend yield 6.15%, beta 0.92, 52-week range 0.98–5.41 USD. Latest reported quarter (Q2 2026): revenue of 116.8 m USD (−9.7% YoY), net income of -9.9 m USD, diluted EPS -0.34 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 23.1
- oversold (≤ 30)
- Bollinger (20, 2)
- 0.78 – 1.55
- in the lower half of the band · %B 0.25 · band width 65.6%
- SMA 50 / 200
- 1.73 / 2.85
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.20 / -0.23
- 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
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −43.3% | −1.1% | −42.2 pp | — |
| 3 months | −61.9% | −0.5% | −61.4 pp | — |
| 6 months | −66.5% | +4.4% | −70.9 pp | — |
| Year to date | −74.5% | +12.3% | −86.8 pp | — |
| 1 year | −79.3% | +13.5% | −92.9 pp | −10.3% |
| 3 years | −90.1% | +76.4% | −166.5 pp | −24.4% |
| 5 years | −94.2% | +63.7% | −157.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 118.3 m | 165.6 m | 115.8 m | 129.3 m | 119.3 m | 150.7 m | 123.6 m | 116.8 m |
| Cost of revenue | 101.0 m | 142.8 m | 85.6 m | 88.8 m | 85.1 m | 108.1 m | 85.2 m | 82.0 m |
| Gross profit | 17.3 m | 22.8 m | 30.2 m | 40.5 m | 34.2 m | 42.6 m | 38.4 m | 34.7 m |
| Research & development | 11.2 m | 7.2 m | 5.7 m | 5.8 m | 5.7 m | 6.0 m | 5.3 m | 6.5 m |
| SG&A | 26.4 m | 32.7 m | 26.6 m | 28.6 m | 26.7 m | 28.6 m | 27.7 m | 26.6 m |
| Operating income | -28.4 m | -70.0 m | -4.3 m | 4.4 m | -6.5 m | -21.8 m | 1.9 m | -303.0 k |
| Depreciation & amortisation | 5.7 m ≈ | -11.4 m | 4.7 m | 4.7 m ≈ | 4.6 m ≈ | -8.8 m | 4.7 m | 4.3 m ≈ |
| Interest expense | 4.4 m | 4.6 m | 3.8 m | 4.5 m | 4.9 m | 5.3 m | 5.8 m | 9.1 m |
| Pre-tax income | -32.8 m | -77.5 m | -8.1 m | -84.0 k | -11.9 m | -27.1 m | -4.0 m | -9.5 m |
| Income tax | -7.0 m | 13.0 m | 387.0 k | 765.0 k | 422.0 k | 1.1 m | 124.0 k | 383.0 k |
| Net income | -25.7 m | -90.4 m | -8.5 m | -849.0 k | -12.4 m | -28.2 m | -4.1 m | -9.9 m |
| Diluted EPS | -0.91 | -3.21 ≈ | -0.30 | -0.03 | -0.43 | -0.99 ≈ | -0.14 | -0.34 |
| Operating cash flow | 27.9 m ≈ | 25.4 m | -20.6 m | -19.3 m ≈ | 12.7 m ≈ | 6.0 m | -35.4 m | -25.0 m ≈ |
| Dividends paid | 840.0 k ≈ | 0 | 0 | 0 ≈ | 0 ≈ | 0 | — | — |
| Share repurchases | 0 ≈ | 0 | — | — | — | — | — | — |
≈ derived quarter (cumulative difference / share-days average)
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 year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 454.3 m | 468.2 m | 458.7 m | 557.7 m | 609.6 m | 579.4 m | 547.3 m | 515.1 m |
| Revenue YoY | +27.9% | +3.1% | −2.0% | +21.6% | +9.3% | −5.0% | −5.5% | −5.9% |
| Net income | 24.2 m | 13.6 m | 15.2 m | 18.6 m | 27.4 m | 7.5 m | -126.3 m | -49.9 m |
| Net income YoY | +19.3% | −43.8% | +12.1% | +21.9% | +47.4% | −72.6% | −1,780.3% | unavailable |
| Diluted EPS | 0.81 | 0.46 | 0.51 | 0.61 | 0.92 | 0.26 | -4.50 | -1.75 |
| Diluted EPS YoY | +19.1% | −43.2% | +10.9% | +19.6% | +50.8% | −71.7% | −1,830.8% | unavailable |
| net % | 5.3% | 2.9% | 3.3% | 3.3% | 4.5% | 1.3% | -23.1% | -9.7% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- unavailable USD
- Financial debt
- 174.0 m USD
- Net debt
- unavailable USD
- Equity
- 192.4 m USD
- Total assets
- 596.5 m USD
- Debt / equity
- 0.90x
- Current ratio
- 1.77x
- ROE
- -23.4%
- ROA
- -8.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 458.7 m | 557.7 m | 609.6 m | 579.4 m | 547.3 m | 515.1 m | SEC (XBRL)· 16 Mar 2026verified |
| Cost of revenue | 286.1 m | 387.0 m | 417.2 m | 400.2 m | 427.0 m | 367.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Gross profit | 172.6 m | 170.7 m | 192.4 m | 179.2 m | 120.3 m | 147.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Research & development | 26.3 m | 28.9 m | 31.8 m | 38.0 m | 32.7 m | 23.2 m | SEC (XBRL)· 16 Mar 2026verified |
| SG&A | — | 111.1 m | 119.9 m | 116.9 m | 119.6 m | 110.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Operating income | 22.9 m | 30.9 m | 40.7 m | 23.3 m | -101.6 m | -28.3 m | SEC (XBRL)· 16 Mar 2026verified |
| Depreciation & amortisation | 19.9 m | 9.2 m | 8.9 m | 6.6 m | 5.2 m | 5.3 m | SEC (XBRL)· 16 Mar 2026verified |
| EBITDA | 42.8 m ≈ | 40.2 m ≈ | 49.6 m ≈ | 29.9 m ≈ | -96.4 m ≈ | -23.0 m ≈ | SEC (XBRL)· 16 Mar 2026derived |
| Interest expense | 5.2 m | 3.7 m | 4.0 m | 12.6 m | 16.5 m | 18.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Pre-tax income | 18.4 m | 27.1 m | 36.0 m | 10.3 m | -120.5 m | -47.2 m | SEC (XBRL)· 16 Mar 2026verified |
| Income tax | 3.1 m | 8.2 m | 8.6 m | 2.8 m | 5.9 m | 2.7 m | SEC (XBRL)· 16 Mar 2026verified |
| Net income | 15.2 m | 18.6 m | 27.4 m | 7.5 m | -126.3 m | -49.9 m | SEC (XBRL)· 16 Mar 2026verified |
| Diluted EPS | 0.51 | 0.61 | 0.92 | 0.26 | -4.50 | -1.75 | SEC (XBRL)· 16 Mar 2026verified |
| Weighted average diluted shares | 30.0 m | 30.4 m | 29.9 m | 28.5 m | 28.1 m | 28.4 m | SEC (XBRL)· 16 Mar 2026verified |
| Dividend per share | 0.04 | 0.08 | 0.10 | 0.12 | 0.06 | — | SEC (XBRL)· 29 May 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 15.9 m | 16.3 m | 20.3 m | — | — | — | SEC (XBRL)· 16 Mar 2023verified |
| Receivables | 130.0 m | 149.3 m | 156.5 m | 182.6 m | 169.7 m | 160.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Inventories | 163.8 m | 154.3 m | 184.2 m | 219.6 m | 179.3 m | 176.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Current assets | 330.3 m | 342.0 m | 388.6 m | 432.0 m | 378.9 m | 370.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Property, plant & equipment, net | 65.4 m | 66.1 m | 70.9 m | 74.6 m | 58.2 m | 53.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Goodwill | 52.1 m | 46.3 m | 47.0 m | 51.2 m | 19.7 m | 0 | SEC (XBRL)· 16 Mar 2026verified |
| Intangibles (excl. goodwill) | 197.5 m | 197.8 m | 184.7 m | 172.5 m | 150.5 m | 138.7 m | SEC (XBRL)· 16 Mar 2026verified |
| Total assets | 680.3 m | 694.2 m | 726.3 m | 767.5 m | 636.7 m | 596.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Accounts payable | 59.3 m | 67.1 m | 69.0 m | 68.8 m | 69.2 m | 87.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Short-term debt | 0 | 0 | 0 | 0 | 0 | 0 | SEC (XBRL)· 06 May 2026verified |
| Long-term debt | 107.4 m | 52.2 m | 51.5 m | 138.9 m | 147.3 m | 174.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Current liabilities | 171.3 m | 223.1 m | 266.6 m | 230.5 m | 232.4 m | 209.4 m | SEC (XBRL)· 16 Mar 2026verified |
| Total liabilities | 319.6 m | 321.4 m | 356.3 m | 397.5 m | 403.6 m | 404.1 m | SEC (XBRL)· 16 Mar 2026verified |
| Equity | 360.7 m | 372.7 m | 370.0 m | 370.0 m | 233.1 m | 192.4 m | SEC (XBRL)· 16 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 90.3 m | 86.4 m | 57.1 m | -58.7 m | 3.9 m | -21.2 m | SEC (XBRL)· 16 Mar 2026verified |
| Investing cash flow | -35.8 m | -20.0 m | -14.5 m | -17.0 m | -6.6 m | -3.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Financing cash flow | -44.4 m | -65.9 m | -38.3 m | 66.7 m | 4.5 m | 23.7 m | SEC (XBRL)· 16 Mar 2026verified |
| Dividends paid | 1.2 m | 2.4 m | 2.8 m | 3.4 m | 2.5 m | 0 | SEC (XBRL)· 16 Mar 2026verified |
| Share repurchases | 0 | 4.6 m | 34.0 m | 15.5 m | 0 | 0 | SEC (XBRL)· 16 Mar 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 31.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 28.8 m USD
Key indicators
Coverage and freshness
Score by group
31% · Insufficient data
Estimated value range
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: 0.79 – 1.06 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)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)0.79 – 1.06 (Mid 0.90)
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: indicators available: 5 of at least 6; score weight coverage: 31.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -10.7% | 40 (vs peers) | 20% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -5.5% | 0 (on a fixed band) | 27% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -1.1x | 0 (on a fixed band) | 20% |
| Current ratio · Balance sheet | 2.5x | 100 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 20% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial40/100 · 1/3 factors with a value
- Returns· partial0/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 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
AMERICAN VANGUARD CORPORATION (AVD). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 515.1 m USD in 2025; YoY growth -5.9%; net margin -10.7%; ROE -26.5%.
The estimated value range is 0.79–1.06 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.90 USD, the price of 0.98 USD leaves a potential of -7.3% (value / price − 1) and a margin of safety of -7.9% (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 (indicators available: 5 of at least 6; score weight coverage: 31.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.5x
What contradicts it
- Revenue CAGR 3Y: -5.5%
- Interest coverage: -1.1x
- Shareholder yield (distributions): 0.0%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Agricultural Chemicals (SIC 2870) · same industry (4-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NTRNutrien Ltd. | 41.0 bn | 15.5 | 9.1% | 8.4% | +3.5% | +24% / +35% |
| CFCf Industries Holdings, Inc. | 16.9 bn | 7.9 | 46.7% | 32.3% | +19.3% | +42% / +49% |
| MOSMosaic Co | 6.9 bn | — | -9.3% | -9.4% | +8.4% | −12% / −40% |
| ICLIcl Group Ltd. | 5.9 bn | 25.4 | 3.9% | 3.2% | +4.6% | −18% / −9% |
| SMGScotts Miracle-Gro Co | 3.9 bn | 55.8 | — | 2.1% | −3.9% | +19% / +21% |
| UANCvr Partners, LP | 1.2 bn | 11.1 | — | 16.1% | +15.4% | +16% / +64% |
| AVDAmerican Vanguard Corporation | 28.8 m | — | -26.5% | -10.7% | −5.9% | −79% / −90% |
| BIOXBioceres Crop Solutions Corp. | 16.2 m | — | -19.1% | -16.5% | −27.9% | −85% / −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 m | 0.3 | — | -220.2% | −30.9% | −66% / −95% |
1- and 3-year price returns: for AVD 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.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 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 |
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 11 Aug 2026; since then the company filed 10-K/A (30 Sept 2026).
In brief
American Vanguard is an Irvine, California company that develops and markets products for crop protection, plant nutrition and pest control, both in the US and internationally 13. The company is in a transformation phase: net sales in fiscal 2025 fell to 515.1 million USD and the net loss was 49.9 million USD 1, while its 2026 outlook targets sales of 530 - 550 million USD 3.
SWOT
Strengths
- A broad portfolio of products registered in many countries and a leading position in closed delivery systems.
- A specialized product base and the less contested niches of Specialty provide stability.
- Management has reduced operating costs and inventory reserves, with visible effects on margins.
Weaknesses
- Debt is high, and financing costs rose with the new credit structure.
- The company depends on a few sole-source suppliers for certain raw materials.
- International business has declined in recent periods, especially in Mexico and Central America.
Opportunities
- If the agricultural market recovers, crop sales could return to higher levels.
- The Specialty segment and biological products could accelerate growth.
- Restructuring savings could improve profitability in the second half of the year.
Threats
- Product liability suits and regulatory restrictions could limit the use of some substances.
- Tariffs and trade tensions can disrupt supply chains and costs.
- Unfavorable weather can reduce demand in some regions.
Risks
- EPA regulationhigh
Withdrawal or restriction of product registrations could affect sales, especially if no substitute is available 1.
- Product liability litigationhigh
Cases over DCPA and other pesticides could lead to damage claims and uninsured costs 1.
- Indebtednessmedium
High debt and higher interest rates could limit financial flexibility, especially if sales remain weak 2.
- Supply chainmedium
Dependence on sole-source suppliers and trade disruptions could delay deliveries and raise costs 1.
- Weather and crop priceslow
Drought and low crop prices could reduce orders in several regions 12.
Investment thesis
What would need to be true (bull case)
- If destocking has ended and demand normalizes, sales could recover and restructuring effects could become visible in margins 13.
- The US Specialty segment grew in 2026, which could offset weakness in crop products 2.
- The 2026 outlook was reaffirmed, and management could deliver the promised savings if the plan is executed 3.
What would break the thesis
What to watch
- Delivery of the sales and adjusted EBITDA outlook2026
- Trend in gross margin after the Los Angeles plant optimizationQ3 2026
- Trend in debt and interest costs after the new credit structureQ3 2026
- Decisions on restructuring international subsidiaries and details in the annual reportnext 10-K
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 11 Aug 2026; since then the company filed 10-K/A (30 Sept 2026).
The business
AVD operates as a holding company, through AMVAC for its US business and AMVAC Netherlands BV for its international business 1. AMVAC synthesizes, formulates and distributes chemical, biological and biorational products, such as insecticides, fungicides, herbicides, soil fumigants and growth regulators, and holds a leading position in closed delivery systems such as SmartBox Plus 1. The company has one reportable segment and sold its products in 41 countries in 2025 1.
In 2025 the company launched a business improvement plan, under the mantra 'Simplify, Prioritize and Deliver', covering supply chain costs, manufacturing optimization, go-to-market approaches and organizational restructuring 1. In the second half of 2026, several actions, including the Los Angeles plant optimization and the headquarters relocation, should reduce costs according to management 3.
Regulatory and product development spending remains significant: in 2025 registration and product development costs totaled 16,119 thousand USD 1. The company operates six manufacturing facilities, two of which are biological fermentation sites 1.
Segments
US crop
US crop net sales fell 3% in 2025, mainly because of soil fumigants and granular soil insecticides, while herbicides grew with the Zalo product 1. In the second quarter of 2026 sales fell 9%, partly because cotton product sales shifted into the third quarter 2.
Market context
The agricultural market is cyclical, and demand for AVD products depends on weather, pest pressure and crop prices 1. According to management, distributors and growers remain cautious, buying close to time of use, and destocking may already have largely run its course in the second half of 2025 12. Farm economy pressure rose in 2026 because of higher fuel and fertilizer costs 2.
The market is also shaped by regulation: products must be registered with the EPA and in each state, and data requirements can raise costs 1. The company notes that crop prices, interest rates and international trade affect demand and margins, but it does not give a precise forecast for the coming period 13.
Trends
- Agricultural cyclemixed
Management describes a cyclical downturn in agriculture, with crop prices near historically low levels, which could limit short-term demand 1. If destocking has ended, this could be the first step toward a cyclical recovery 1.
- Production and supply costsmixed
Lower procurement costs and lower inventory reserves helped margins in 2025 1. In 2026, however, higher freight and raw material costs pressured gross margin, and tariffs and trade tensions remain a source of uncertainty 12.
- Regulation and litigationheadwind
Regulatory pressure and product liability litigation, including pesticide and PFAS cases, could restrict the use of some active ingredients 1. If the EPA restricted products in the portfolio, the impact would depend on the product affected 1.
- Operational streamliningtailwind
Closing facilities and relocating headquarters aim to reduce expenses, and the company reported transformation costs declining 13. If these measures translate into savings, margins could recover in the second half of the year 3.
Competitive position
AVD competes with both US and foreign manufacturers, many of which are larger and have greater financial and technical resources 1. The company differentiates itself through quality, efficacy, technical service and positioning in smaller niche markets 1. In the Midwest corn and soybean markets it competes directly with larger companies 1.
In the US market, management says AVD is beginning to outperform its competition in its most important market, while in international markets price competition and weather have played a major role 32.
- Large agrochemical manufacturers
The sources describe competitors with much greater financial and technical resources, without naming them.
- Local and regional producers
Competition also comes from producers in other countries, especially in international markets.
- Biological input suppliers
The biological segment, including Agrinos, competes with specialized biological input providers.
- Distributors and cooperatives
Distributors and cooperatives are sales channels but also customers with bargaining power.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report01 Oct 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Annual report (amendment)30 Sept 2026
- Current report11 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report10 Aug 2026
- Current report08 Jun 2026Departure or appointment of officers · Shareholder vote · Other events · Financial statements and exhibits
- Quarterly report06 May 2026
- Proxy statement23 Apr 2026
- Current report15 Apr 2026Departure or appointment of officers
- Current report19 Mar 2026Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report18 Mar 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / American Vanguard Corporation · 16 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / American Vanguard Corporation · 10 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / American Vanguard Corporation · 11 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.