One-glance verdict
Within fair range
$33.86 our estimate vs market $37.76
Wall Street consensus: $44.50 (31.4% higher than our fair-value estimate)
12% above our estimate
Fundamentals snapshot
Alico, Inc.
ALCO · NMS · Consumer Defensive · Farm Products
Current price
$37.76
52-week range
$31.32 - $45.01
Market cap
$280.04M
Balance sheet
Distressed
-42.06x Concerning
Net debt $32.58M. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
2 Risks
2 rewards · 2 risks
- Reward Free cash flow was positive in 5/10 years.
- Reward Dividend yield is 0.5% with 37-year payout history.
- Risk Operating margin compressed from -27.0% to -146.5% over 3 years.
- Risk Return on equity was -15.8% last year — the company lost money on shareholders' equity.
What this company does
Alico, Inc.
Alico is one of America's largest citrus growers, mainly producing oranges on its large land holdings in Florida. The company makes money by selling fruit from its groves and also by leasing out other parts of its land for things like cattle grazing and rock mining. This means its financial health is closely tied to citrus prices and the value of its real estate.
How the company got here
Alico's story begins in the late 1800s as a land-holding company for a railroad. [12] Spun off as its own public company in 1960, it grew into a major force in Florida agriculture, especially known for being one of the largest citrus growers in the United States. [2, 4] For decades, its primary business was cultivating massive citrus groves to produce fruit for orange juice and other products. [11] Facing major challenges like crop disease, the company recently made a key decision to move away from growing its own citrus and transform its business. [15, 18]
What it actually does
Today, Alico is a land management company that owns tens of thousands of acres of land in Florida. [3, 5] Instead of farming all the land itself, its main business is now leasing its properties to other agricultural operators for activities like farming, cattle grazing, and hunting. [7, 8] The company also earns money from royalties (a share of the income) on activities like rock mining on its land. [9] A key part of its new focus is selling parcels of land and preparing some of its holdings for future real estate development. [14, 18]
Alico Citrus
This was once the company's largest and most well-known business, focused on growing oranges and other citrus fruits, with most of the harvest sold to juice processors. [13, 16] However, due to persistent crop disease and other financial pressures, Alico announced it would stop its own citrus farming operations after the 2025 harvest. [15, 18] While it no longer grows the fruit itself, this segment now generates revenue by leasing its citrus groves to other farmers. [10]
Land Management and Other Operations
This is now the core of Alico's business and represents its future direction. [7] This segment makes money by leasing its vast land holdings to other companies for a variety of uses. [8] This includes renting out pastureland for cattle grazing, leasing land for hunting, and signing agreements with other farmers to grow crops like sugarcane. [9, 10] It also collects royalty payments from companies that extract minerals or oil from its properties, making this a diversified source of income. [9]
What management is betting on now
Management is executing a major strategic shift from being a hands-on citrus farmer to a diversified landlord and property manager. [3, 19] The main goal is to unlock the value of its huge land portfolio by leasing it out for a wider variety of agricultural uses, which creates more stable income. [15, 20] They are also focused on monetizing the land (turning an asset into cash) by selling off properties and getting approvals to turn some land into residential and commercial developments. [14, 17] This strategy aims to reduce the financial risks of farming while capitalizing on the value of its Florida real estate. [19]
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-3.39M
FY2024 Q4
$-13.72M
FY2025 Q1
$-10.61M
FY2025 Q2
$6.56M
FY2025 Q3
$22.84M
FY2025 Q4
$-4.17M
FY2026 Q1
$-5.96M
FY2026 Q2
$-60.00K
Revenue
$5.34M
Net income
$11.38M
Diluted EPS
1.49
Operating cash flow
$660.00K
Free cash flow
$-60.00K
Fetching…
Sources
Revenue
$1.89M
Net income
$-3.48M
Diluted EPS
-0.45
Operating cash flow
$-5.47M
Free cash flow
$-5.96M
Fetching…
Sources
Revenue
$802.00K
Net income
$-8.49M
Diluted EPS
-1.12
Operating cash flow
$-2.71M
Free cash flow
$-4.17M
Fetching…
Sources
Revenue
$8.39M
Net income
$-18.29M
Diluted EPS
-2.39
Operating cash flow
$23.41M
Free cash flow
$22.84M
Fetching…
Sources
Revenue
$17.98M
Net income
$-111.39M
Diluted EPS
-14.58
Operating cash flow
$7.03M
Free cash flow
$6.56M
Fetching…
Sources
Revenue
$16.89M
Net income
$-9.17M
Diluted EPS
-1.20
Operating cash flow
$-7.60M
Free cash flow
$-10.61M
Fetching…
Sources
Revenue
$935.00K
Net income
$-18.12M
Diluted EPS
-2.39
Operating cash flow
$-11.78M
Free cash flow
$-13.72M
Fetching…
Sources
Revenue
$13.61M
Net income
$-2.04M
Diluted EPS
-0.27
Operating cash flow
$1.02M
Free cash flow
$-3.39M
Fetching…
Sources
Is it cheap or expensive?
Fair value $33.86 vs current price $37.76
Wall Street consensus is the average analyst price target: $44.50 (31.4% higher than our fair-value estimate).
Our most-likely fair value is $33.86 a share — about 10.3% away from today's price of $37.76, so the stock currently looks fairly priced.
Is it drowning in debt?
Distressed
Net debt $32.6M. Interest coverage -42.1x.
Net debt
$32.58M
Interest coverage
-42.06x
Alico, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
ALCO
BASELINE
Alico, Inc.
Total debt $85.46M Interest coverage -42.06x This is the baseline the peer rows are being compared against.
Total debt $99.83M Interest coverage -15.48x Neither company has much profit cushion over interest right now.
Total debt $628.90M Interest coverage 16.64x This peer still has a real interest-payment cushion, while ALCO does not.
Total debt $217.70M Interest coverage 6.94x This peer still has a real interest-payment cushion, while ALCO does not.
Total debt $54.24M Interest coverage 101.11x This peer still has a real interest-payment cushion, while ALCO does not.
What you should know
The case for and against ALCO
2 Rewards
2 Risks
Rewards
-
Free cash flow was positive in 5/10 years.
-
Dividend yield is 0.5% with 37-year payout history.
Risks
-
Operating margin compressed from -27.0% to -146.5% over 3 years.
-
Return on equity was -15.8% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-20.98x
P/B
2.75x
P/S
17.06x
EV/EBITDA
4.30x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
558.8%
Operating margin
-146.5%
Net margin
-115.0%
ROE
-15.8%
ROA
22.4%
Health
Liquidity and balance-sheet strength
Debt / equity
0.80x
Current ratio
9.63x
Quick ratio
9.11x
Total debt
$85.46M
Total cash
$52.88M
Growth
How the business has been compounding
Revenue TTM
$16.42M
Revenue 5Y CAGR
-20.2%
EPS TTM
-2.47
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$15.89M
Free CF TTM
$14.62M
FCF margin
89.1%
Dividend
Shareholder payout
Yield
0.5%
Payout ratio
22.0%
Last ex-div date
2026-07-02