One-glance verdict
Within fair range
$48.00 our estimate vs market $39.46
Wall Street consensus: $45.00 (-6.3% lower than our fair-value estimate)
18% below our estimate
Fundamentals snapshot
Alico, Inc.
ALCO · NMS · Consumer Defensive · Farm Products
Current price
$39.46
52-week range
$31.32 - $45.01
Market cap
$292.74M
Balance sheet
Distressed
-42.06x Concerning
Net debt $29.83M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Returns 0.7% on equity, ahead of 75% of its peers.
- Reward Free cash flow was positive in 5/10 years.
- Reward Trades at 187.9x P/E vs peer median 427.0x (56.0% cheaper).
- Risk Stock trades 271.2% above its 5-year average P/E.
What this company does
Alico, Inc.
Alico is an agriculture company that is one of the largest citrus producers in the U.S., primarily growing oranges for juice. The company's main business is selling fruit, but it also makes money by leasing land for cattle grazing and collecting royalties (a share of the sales from resources, like rock, found on its land). This means Alico's performance is often tied to factors it can't control, like good weather and the market price for oranges.
How the company got here
Alico began in 1898 as a real estate division of a railroad company, the Atlantic Coast Line Railroad, to manage the vast Florida land the railroad had acquired. In 1960, it was spun-off (separated into a new, independent company) and became publicly traded. For decades, it focused on farming, growing into one of the nation's largest producers of citrus fruits like oranges. Recently, due to challenges like crop disease, the company made a major pivot away from growing its own fruit to focus on managing its extensive land holdings in new ways.
What it actually does
Think of Alico as a massive landlord for agricultural land in Florida. The company owns tens of thousands of acres and makes money by leasing it out to other businesses for farming, cattle grazing, and hunting. It also earns royalties (a share of the income) from mining operations on its property. A growing part of its business involves preparing some of its land to be sold for real estate development, like new housing communities.
Alico Citrus
This part of the business used to be about growing and selling millions of boxes of oranges, mostly for juice. However, the company is now stopping its own farming operations. Today, this segment's main role is leasing its citrus groves to other farmers who will grow and harvest the fruit. This shift reduces Alico's direct farming risks while still generating income from its established citrus orchards.
Land Management and Other Operations
This is now the core of Alico's business and represents the majority of its focus. This segment earns money by leasing its vast non-citrus land to other companies for a variety of uses. This includes renting out pastureland for cattle ranchers, leasing fields to farmers growing crops like sugarcane, and offering land for recreational hunting. It also collects fees from companies that mine for rocks or minerals on its property and sells certain parcels of land for conservation or development.
What management is betting on now
Management is betting that the company's most valuable asset is the land itself, not just the crops grown on it. Their main strategy is to transform Alico from a fruit grower into a diversified land company. This means creating multiple streams of income by leasing land to a wider variety of agricultural businesses to reduce risk. A key priority is also to unlock the land's real estate potential by preparing and selling certain properties for development, which could be more profitable than farming them.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
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
FY2026 Q3
$6.63M
Revenue
$9.04M
Net income
$2.12M
Diluted EPS
0.29
Operating cash flow
$7.14M
Free cash flow
$6.63M
Fetching…
Sources
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
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Sources
Revenue
$935.00K
Net income
$-18.12M
Diluted EPS
-2.39
Operating cash flow
$-11.78M
Free cash flow
$-13.72M
Fetching…
Sources
Is it cheap or expensive?
Fair value $48.00 vs current price $39.46
Wall Street consensus is the average analyst price target: $45.00 (-6.3% lower than our fair-value estimate).
Our most-likely fair value is $48.00 a share — about 21.6% away from today's price of $39.46, so the stock currently looks fairly priced.
Is it drowning in debt?
Distressed
Net debt $29.8M. Interest coverage -42.1x.
Net debt
$29.83M
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 $85.42M Interest coverage -42.06x This is the baseline the peer rows are being compared against.
Total debt $108.97M Interest coverage -15.48x Neither company has much profit cushion over interest right now.
Total debt $518.60M Interest coverage 6.94x This peer still has a real interest-payment cushion, while ALCO does not.
Total debt $108.25M 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
3 Rewards
1 Risk
Rewards
-
Returns 0.7% on equity, ahead of 75% of its peers.
-
Free cash flow was positive in 5/10 years.
-
Trades at 187.9x P/E vs peer median 427.0x (56.0% cheaper).
Risks
-
Stock trades 271.2% above its 5-year average P/E.
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)
187.90x
Forward P/E
-21.92x
P/B
2.79x
P/S
17.15x
EV/EBITDA
170.79x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
-15.5%
Operating margin
19.8%
Net margin
9.0%
ROE
0.7%
ROA
-4.4%
Health
Liquidity and balance-sheet strength
Debt / equity
0.81x
Current ratio
7.96x
Quick ratio
7.73x
Total debt
$85.42M
Total cash
$55.58M
Growth
How the business has been compounding
Revenue TTM
$17.07M
Revenue 5Y CAGR
-20.2%
EPS TTM
0.21
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-383.00K
Free CF TTM
$14.62M
FCF margin
85.7%
Dividend
Shareholder payout
Yield
0.5%
Payout ratio
95.2%
Last ex-div date
2026-07-02