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Deep Value: cash covers more than 100% of the stock price

This company holds roughly $30M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Bioceres Crop Solutions logo

Bioceres Crop Solutions

BIOX
21
Agricultural Inputs · Basic Materials
Winston Score
21
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Mixed
Stability
Weak
Valuation
Data not available

Winston Score History

The full picture

Bioceres Crop Solutions is an agricultural technology company that helps farmers grow more crops using biology instead of chemicals. Its main products include HB4, a drought-tolerant seed trait for wheat and soybeans, along with biostimulants, biofertilizers, and crop protection products. The company sells to farmers and agricultural businesses primarily in Latin America, with a strong base in Argentina.

Bioceres earns revenue by selling its seed treatments, biological inputs, and licensing its HB4 technology to seed companies in exchange for royalty fees. It operates mainly across South America, with growing efforts to expand HB4 licensing into North America and other markets. The company's main competitive edge is its proprietary drought-tolerance technology, which is one of the few commercially approved traits of its kind for wheat globally. The key growth driver is broader regulatory approval and adoption of HB4 wheat, but the business currently runs at a small operating loss, which means execution risk remains meaningful.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-35.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-817.9% YoY

YoY Growth Rate

Earnings declining

Insider Activity

29.9%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$86M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Bioceres Crop Solutions's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
30.1%
Modest — 30.1% gross margin
Profit after running costs
Operating Margin
-17.0%
Losing money on operations — -17.0%
Return on the money invested
ROCE
0.7%
Weak — 0.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
-29.8%
Shrinking sales (-29.8% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
1/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
20.8%
Converts sales into free cash efficiently (20.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
3.57
Heavy debt load (3.57)
Covers its interest
Interest Cover
0.07x
Dangerous — barely covers interest (0.1x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
no trend
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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