AGFS · Agrofresh Solutions, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $161.94M | $165.99M | $157.64M | $164.03M | $178.79M | $159.67M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | $108.50M | $117.03M | $115.43M | $125.02M | $132.51M | $99.69M |
| R&D | $12.06M | $12.93M | $12.36M | $14.11M | $13.87M | $14.77M |
| SG&A | $52.55M | $52.61M | $53.86M | $59.45M | $65.77M | $61.89M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $3.00M | $2.80M | $3.20M | $2.20M | $1.60M | $1.30M |
| Operating Income | $1.24M | $2.13M | $8.45M | ($40.76M) | $7.34M | ($36.85M) |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | ($613.0K) | $2.58M | $31.38M | ($17.14M) | $1.84M | $13.02M |
| Net Income | ($33.36M) | ($5.42M) | ($53.71M) | ($60.83M) | ($30.06M) | ($111.56M) |
| EPS - Basic | - | - | - | - | - | - |
| EPS - Diluted | - | - | - | - | - | - |
Balance Sheet
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $54.35M | $61.93M | $50.03M | $29.29M | $34.85M | $64.53M |
| Accounts Receivable | $58.41M | $53.54M | $63.20M | $68.63M | $67.94M | $71.51M |
| Inventory | $25.43M | $19.78M | $24.58M | $22.62M | $24.81M | $24.11M |
| Accounts Payable | $20.87M | $16.97M | $19.63M | $15.11M | $7.53M | $15.01M |
| Current Assets | $158.73M | $155.13M | $155.03M | $132.34M | $143.21M | $178.84M |
| Total Assets | $697.71M | $732.56M | $785.78M | $805.69M | $899.29M | $983.26M |
| Current Liabilities | $66.44M | $49.71M | $52.46M | $49.78M | $64.10M | $94.68M |
| Long-term Debt | $253.06M | $254.19M | $264.49M | $398.06M | $400.31M | $402.87M |
| Total Liabilities | $354.54M | $344.99M | $361.22M | $471.66M | $526.71M | $567.18M |
| Stockholders' Equity | $174.03M | $230.40M | $272.39M | $326.44M | $364.31M | $407.64M |
| Retained Earnings | ($282.02M) | ($248.66M) | ($244.84M) | ($199.62M) | ($138.79M) | ($108.73M) |
Cash Flow
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $16.17M | $52.00M | $26.71M | $20.06M | $3.01M | $30.48M |
| Investing Cash Flow | ($4.04M) | ($4.02M) | ($2.40M) | ($4.43M) | ($5.75M) | ($6.53M) |
| Financing Cash Flow | ($13.62M) | ($31.39M) | ($4.86M) | ($22.05M) | ($22.23M) | ($6.07M) |
| CapEx | $4.04M | $4.02M | $2.40M | $4.18M | $4.16M | $6.00M |
| Free Cash Flow | $12.14M | $47.98M | $24.32M | $15.88M | ($1.15M) | $24.48M |
Ratios
| Metric | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 67.0% | 70.5% | 73.2% | 76.2% | 74.1% | 62.4% |
| Operating margin | 0.8% | 1.3% | 5.4% | -24.8% | 4.1% | -23.1% |
| EBITDA margin | 2.6% | 3.0% | 7.4% | -23.5% | 5.0% | -22.3% |
| Net margin | -20.6% | -3.3% | -34.1% | -37.1% | -16.8% | -69.9% |
| Free cash flow margin | 7.5% | 28.9% | 15.4% | 9.7% | -0.6% | 15.3% |
| FCF / Net income | -0.36 | -8.85 | -0.45 | -0.26 | 0.04 | -0.22 |
| R&D / Revenue | 7.4% | 7.8% | 7.8% | 8.6% | 7.8% | 9.2% |
| SG&A / Revenue | 32.5% | 31.7% | 34.2% | 36.2% | 36.8% | 38.8% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -4.8% | -0.7% | -6.8% | -7.6% | -3.3% | -11.3% |
| Return on equity | -19.2% | -2.4% | -19.7% | -18.6% | -8.3% | -27.4% |
| Return on invested capital | 0.2% | 0.3% | 1.2% | -4.4% | 0.8% | -3.6% |
| Liquidity | ||||||
| Current ratio | 2.39 | 3.12 | 2.96 | 2.66 | 2.23 | 1.89 |
| Quick ratio | 2.01 | 2.72 | 2.49 | 2.20 | 1.85 | 1.63 |
| Cash ratio | 0.82 | 1.25 | 0.95 | 0.59 | 0.54 | 0.68 |
| Leverage | ||||||
| Debt / Equity | 1.45 | 1.10 | 0.97 | 1.22 | 1.10 | 0.99 |
| Debt / Assets | 0.36 | 0.35 | 0.34 | 0.49 | 0.45 | 0.41 |
| Debt / EBITDA | 59.74 | 51.58 | 22.70 | - | 44.76 | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 4.01 | 3.18 | 2.88 | 2.47 | 2.47 | 2.41 |
| Liabilities / Assets | 0.51 | 0.47 | 0.46 | 0.59 | 0.59 | 0.58 |
| Efficiency | ||||||
| Asset turnover | 0.23 | 0.23 | 0.20 | 0.20 | 0.20 | 0.16 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 132d | 118d | 146d | 153d | 139d | 163d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -2.4% | 5.3% | -3.9% | -8.3% | 12.0% | - |
| Revenue CAGR (3y) | -0.4% | -2.4% | -0.4% | - | - | - |
| Revenue CAGR (5y) | 0.3% | - | - | - | - | - |
| Gross profit growth (YoY) | -7.3% | 1.4% | -7.7% | -5.7% | 32.9% | - |
| Operating income growth (YoY) | -41.9% | -74.8% | - | - | - | - |
| Net income growth (YoY) | -515.1% | 89.9% | 11.7% | -102.4% | 73.1% | - |
| EPS growth (YoY) | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -74.7% | 97.3% | 53.1% | - | - | - |
| FCF CAGR (5y) | -13.1% | - | - | - | - | - |
| Book value growth (YoY) | -24.5% | -15.4% | -16.6% | -10.4% | -10.6% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$32.63M totalA1 MCPBased$29.97M · 91.8%
Fungicides Waxes Coatings Biocides$2.08M · 6.4%
Other Product Line$585.0K · 1.8%
Geographic
$165.99M totalEMEA$82.33M · 49.6%
Latin America$33.61M · 20.2%
North America$32.63M · 19.7%
Asia Pacific$17.41M · 10.5%
Stability scores
Altman Z′
FY 2022 · bankruptcy risk
0.20
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2022 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Agricultural Chemicals
Comparing AgroFresh Solutions against the 5 most active filers in the same SIC group.