ALICO, INC. ALCO
Alico was incorporated under the laws of the State of Florida in 1960. Alico is an agribusiness and land management company with a legacy of achievement and innovation in citrus and conservation. We focus on strategic land development opportunities and diversified agricultural operations. At September 30, 2025, we owned approximately 49,537 acres of land in eight Florida counties (Charlotte, Collier, DeSoto, Glades, Hardee, Hendry, Highlands and Polk), and approximately 44,700 acres of oil, gas and mineral rights throughout Florida. We hold these oil, gas and mineral rights on substantially all our owned acres, with additional mineral rights on other leased acres. Our principal lines of business are land management and citrus groves. See Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, Recent Developments included in this Annual Report for a discussion of recent land sales activity.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.1M | $46.6M | $39.8M | $91.9M | $108.6M | $92.5M | $122.3M | $81.3M | $129.8M | $144.2M |
| Cost of revenue | — | — | — | $106.7M | $84.7M | $74.6M | $61.9M | $55.7M | $120.9M | $109.1M |
| Gross profit | -$192.2M | -$56.4M | $6.4M | -$14.8M | $23.9M | $17.9M | $60.4M | $25.6M | $8.9M | $35.1M |
| SG&A | $11.7M | $11.1M | $10.6M | $10.1M | $9.5M | $11.0M | $15.1M | $15.1M | $15.0M | $13.2M |
| Operating income | -$203.9M | -$67.5M | -$4.2M | -$24.8M | $14.4M | $6.9M | $45.2M | $10.5M | -$6.1M | $21.8M |
| Interest expense | — | — | — | — | — | — | — | $8.6M | $9.1M | $9.9M |
| Pre-tax income | -$185.9M | $11.0M | $2.5M | $13.0M | $46.4M | $31.4M | $50.2M | $13.2M | -$13.3M | $12.5M |
| Income tax | $38.4M | $4.6M | $801.0K | $1.1M | $11.6M | $7.7M | $12.8M | $390.0K | $3.8M | $5.5M |
| Net income | -$147.3M | $7.0M | $1.8M | $12.5M | $34.9M | $23.7M | $37.8M | $13.1M | -$9.5M | $7.0M |
| EPS, basic | -19.29 | 0.91 | 0.24 | 1.65 | 4.64 | 3.16 | 5.06 | 1.59 | -1.14 | 0.84 |
| EPS, diluted | -19.29 | 0.91 | 0.24 | 1.65 | 4.64 | 3.16 | 5.05 | 1.57 | -1.14 | 0.84 |
| Shares, diluted (wtd. avg.) | $7.6M | $7.6M | $7.6M | $7.6M | $7.5M | $7.5M | $7.5M | $8.3M | $8.3M | $8.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $38.1M | $3.1M | $3.7M | $865.0K | $886.0K | $19.7M | $23.8K | $32.3M | $3.4M | $6.6M |
| Receivables | $1.0M | $771.0K | $712.0K | $324.0K | $6.1M | $4.3M | $713.0K | $2.5M | $4.3M | $4.7M |
| Inventory | $4.2M | $30.1M | $52.5M | $27.7M | $43.4M | $40.9M | $40.1M | $41.0M | $36.2M | $58.5M |
| Total current assets | $54.9M | $40.6M | $58.8M | $31.6M | $54.9M | $51.9M | $62.0M | $71.1M | $66.5M | $71.9M |
| Property, plant and equipment | $142.1M | $352.7M | $361.8M | $372.5M | $373.2M | $350.1M | $345.6M | $340.4M | $349.3M | $379.2M |
| Goodwill | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M |
| Total assets | $201.5M | $398.7M | $428.4M | $409.3M | $433.2M | $423.9M | $417.4M | $423.4M | $419.2M | $455.4M |
| Accounts payable | $403.0K | $3.4M | $6.3M | $3.4M | $7.3M | $3.5M | $4.2M | $3.8M | $3.2M | $6.0M |
| Short-term debt | $250.0K | $1.4M | $2.6M | $3.0M | $4.3M | $9.1M | $5.3M | $5.3M | $4.5M | $4.5M |
| Total current liabilities | $5.7M | $10.7M | $15.1M | $16.5M | $22.3M | $21.2M | $29.0M | $21.5M | $16.0M | $18.7M |
| Long-term debt | $82.8M | $82.3M | $101.4M | $102.9M | — | — | $158.1M | $169.1M | $181.9M | $192.7M |
| Total liabilities | $93.5M | $142.4M | $178.0M | $160.4M | $183.1M | $202.2M | $218.0M | $245.8M | $253.8M | $277.2M |
| Retained earnings | $100.4M | $249.3M | $243.8M | $243.5M | $246.2M | $219.0M | $198.0M | $151.1M | $140.0M | $151.5M |
| Total equity | $103.0M | $251.2M | $250.4M | $248.9M | $250.1M | $224.3M | $201.9M | $177.6M | $165.4M | $178.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $20.1M | -$30.5M | -$6.3M | $6.5M | $16.5M | $1.0M | $48.8M | $18.6M | $27.5M | $30.4M |
| Depreciation and amortisation | $176.6M | $15.0M | $15.5M | $15.2M | $15.1M | $14.3M | $13.6M | $13.8M | $15.2M | $15.4M |
| Stock-based compensation | $735.0K | $719.0K | $935.0K | $1.2M | $1.2M | $1.3M | $824.0K | $2.6M | $1.7M | $924.0K |
| Capital expenditure | $5.5M | $17.9M | $16.7M | $20.7M | $22.3M | $18.8M | $18.1M | $16.4M | $13.4M | $14.3M |
| Investing cash flow | $24.1M | $68.2M | -$4.1M | $22.5M | -$3.3M | $9.5M | -$5.0M | $22.9M | -$9.3M | -$13.0M |
| Financing cash flow | -$8.8M | -$38.0M | $13.2M | -$29.0M | -$32.0M | -$14.7M | -$52.3M | -$12.6M | -$21.4M | -$16.2M |
| Dividends paid | $1.5M | $1.5M | $4.9M | $15.1M | $7.1M | $2.5M | $1.8M | $2.0M | $2.0M | $2.0M |
| Buybacks | — | — | — | — | — | $238.0K | $25.6M | $2.2M | $3.1M | $3.1M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000003545-25-000140.
Others in SIC 0100
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| DMC | DEL MONTE CORP | $1.51B | 17.1x | 1.0% |
| DOLE | Dole plc | $1.32B | 26.4x | 8.2% |
| VFF | Village Farms International, Inc. | $357.1M | 10.8x | 10.2% |
| LMNR | Limoneira CO | $271.8M | — | -17.3% |
| LOCL | Local Bounti Corporation/DE | $26.2M | — | 26.8% |
| TULP | BLOOMIA HOLDINGS, INC. | $16.6M | — | — |
| EDBL | Edible Garden AG Inc | $2.7M | — | — |
| LND | BrasilAgro - Brazilian Agricultural Real Estate Co | — | — | — |