Is Adecoagro SA overvalued or undervalued?

As of 17 October 2025, the valuation grade for Adecoagro SA has moved from attractive to expensive, indicating a shift towards overvaluation. The company appears to be overvalued based on its current P/E ratio of 22, which is significantly higher than the industry average, and an EV to EBITDA ratio of 9.26, suggesting that investors are paying a premium for its earnings before interest, taxes, depreciation, and amortization. Additionally, the Price to Book Value stands at 0.70, which, while below 1, does not compensate for the high P/E ratio in this context.
In comparison to its peers, Adecoagro SA's P/E ratio is notably higher than Pilgrim's Pride Corp. at 8.20 and Cal-Maine Foods, Inc. at 6.80, both of which are categorized as attractive or very attractive. The company's recent stock performance has been underwhelming, with a year-to-date return of -18.98% compared to the S&P 500's 13.30%, further reinforcing the notion that Adecoagro SA is currently overvalued.