Is Adecoagro SA overvalued or undervalued?

As of 12 May 2025, the valuation grade for Adecoagro SA has moved from fair to very expensive, indicating that the company is overvalued. The current P/E ratio stands at 22, which is higher than the peer average of approximately 19.9, with notable peers such as Fresh Del Monte Produce, Inc. at a P/E of 10.64 and Mission Produce, Inc. at 19.97. Additionally, Adecoagro's EV to EBITDA ratio is 9.26, which is also on the higher side compared to its peers.
With a Price to Book Value of 0.70 and a ROE of 3.16%, the company's financial metrics suggest a concerning valuation relative to its performance. Furthermore, the recent stock performance shows a decline of 3.13% over the past week, contrasting with a marginal drop in the S&P 500, reinforcing the notion that Adecoagro is currently overvalued in the market.