XP Labels 3Tentos a "High-Performance Triathlete" in Agribusiness, Crowns It Top Pick for 2026

• Why Is 3Tentos XP’s Agribusiness Darling?
• The "Triathlete" Breakdown: Where 3Tentos Outpaces Rivals
• How Does 3Tentos Stack Up Against Other XP Top Picks?
• Risks? Even Triathletes Get Cramps
• FAQ: Your Burning Questions, Answered

Why Is 3Tentos XP’s Agribusiness Darling?

The Triple Threat of Agribusiness

Imagine a company that masters three critical agribusiness roles at once: grain trading, fertilizer distribution, and food processing. 3Tentos doesn’t just dabble in these areas—it excels in all of them. According to XP analysts, this vertically integrated model acts like a "financial shock absorber," cushioning the blow when one sector faces volatility. The proof? Their Q3 2025 EBITDA margins hit 18.7%, significantly outpacing the industry average of 12.3% (TradingView data).

Logistics That Defy Disruption

What sets 3Tentos apart isn’t just diversification—it’s execution. When Brazil’s trucker strikes paralyzed supply chains last year, the company’s nimble logistics network kept operations running smoothly. This resilience underscores why XP labels them a "high-performance triathlete" in agribusiness. Their ability to adapt isn’t luck; it’s baked into their operational DNA.

By the Numbers: How 3Tentos Outperforms

While competitors specialize in single segments, 3Tentos thrives by connecting the dots between them. As one market strategist observed: "They’re not just playing the game—they’re rewriting the rules."

The "Triathlete" Breakdown: Where 3Tentos Outpaces Rivals

Grains Division: Strategic Expansion Drives Growth

3Tentos reported a 34% year-over-year revenue increase in its grains division, a surge largely attributed to its strategic acquisition of silos in Mato Grosso. This MOVE not only expanded storage capacity but also strengthened its supply chain efficiency in Brazil's key agricultural region.

Fertilizers: Navigating Volatility with Smart Inventory Management

While global fertilizer prices fluctuated significantly, 3Tentos maintained a 22% cost advantage over competitors through forward-thinking inventory purchases. Their ability to secure supplies before market spikes demonstrates sharp commodity timing.

Food Processing: Capitalizing on Biodiesel Demand

The company's new soybean oil processing facility arrived at an opportune moment, boosting margins by 8% as European biodiesel demand surged. This vertical integration allows 3Tentos to capture value across multiple stages of production.

Their commodity hedging strategy proved particularly effective during the 2025 corn price rally. By locking in favorable rates through futures contracts, the company protected profits while competitors faced margin compression.

What makes 3Tentos stand out is this three-pronged success - excelling simultaneously in grains, fertilizers, and food processing. Like a triathlete who swims, cycles, and runs with equal prowess, the company demonstrates rare balance across agricultural sectors.

How Does 3Tentos Stack Up Against Other XP Top Picks?

XP’s 2026 Agribusiness Leaderboard

XP’s latest ranking of top agribusiness stocks for 2026 highlights 3Tentos as the clear frontrunner, followed by JBS and SLC Agrícola. Here’s how these companies compare:

Why 3Tentos Leads the Pack

Dubbed the "high-performance triathlete" of agribusiness, 3Tentos owes its top position to two strategic advantages:

• Operational efficiency: Its vertically integrated model—controlling everything from raw materials to distribution—gives it cost advantages competitors can’t match.
• Financial health: With a debt-to-EBITDA ratio of just 1.2x (versus JBS’s 3.8x), the company has far greater flexibility to capitalize on export opportunities.

The Competitive Landscape

While 3Tentos dominates, XP’s analysis notes compelling strategies from others:

• JBS is betting big on alternative proteins, though its higher leverage could constrain near-term moves.
• SLC Agrícola stands out for its tech investments, using AI and IoT to boost yields—a playbook that could pay off long-term.

Note: All financial data reflects most recent public disclosures. Rankings based on XP’s proprietary evaluation framework weighing growth potential, financial stability, and market positioning.

Risks? Even Triathletes Get Cramps

While XP’s bullish outlook on 3Tentos highlights its resilience as a "high-performance triathlete" in agribusiness, the company isn’t without vulnerabilities. Climate change remains a critical threat—the 2025 Paraná drought, for instance, slashed soybean yields by 15%, a blow that even 3Tentos’ diversified revenue streams couldn’t fully absorb. Unlike single-crop competitors, however, their multi-pronged business model acts as a buffer. As one farmer-turned-investor quipped, "They’ve got more backup plans than a politician before election day."

The analogy to a triathlete holds: endurance matters, but cramps happen. For investors, 3Tentos’ strength lies in its ability to adapt—though no agribusiness is entirely climate-proof.

FAQ: Your Burning Questions, Answered

What’s 3Tentos’ biggest 2026 advantage?

Export infrastructure. Their Porto Xavier port terminal cuts shipping costs to China by 30%—critical as Beijing stockpiles soybeans.

Is XP’s "top pick" label just hype?

Unlikely. Their 2024 top pick (Raízen) delivered 67% returns. Track records matter.

How volatile is this stock?

Beta of 1.3 vs. Bovespa’s 1.0—expect turbulence, but XP argues it’s "turbulence with a parachute."