Forafric Global PLC Ordinary Shares logo

Forafric Global PLC Ordinary Shares(AFRI)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL RECENCY
1-STAR RATING
Consider higher Upturn Star rating
BUY for 107 days
PROFIT SINCE LAST BUY
+10.51% ▲
LAST CLOSE
$11.15
09/28/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for AFRI

09/28/2026: AFRI (1-star) has a low Upturn Star Rating. Not recommended to BUY.

Forafric Global PLC is an agribusiness operator that specializes in the milling and distribution of wheat-based food products, primarily within North Africa. The company benefits from a vertically integrated model that provides essential staples, supporting stable demand despite regional economic fluctuations. Its main growth story centers on scaling operational capacity and expanding its footprint into broader Sub-Saharan markets. However, investors must consider risks associated with high commodity price volatility, foreign exchange exposure, and intense competition from much larger global players. The stock may suit growth-oriented investors looking for specific exposure to African agricultural development, though it is not a traditional dividend or low-volatility play.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company offers exposure to African agricultural development but faces execution risks in a capital-intensive industry.
Momentum investorWeak fitThe stock often lacks the sustained high-volume trading and consistent upward price trends required for momentum strategies.
Value investorMixed fitValuation may be attractive relative to growth potential, but risks associated with commodity price volatility and regional exposure complicate the value thesis.
Dividend investorWeak fitForafric does not currently offer a dividend, making it unsuitable for income-focused portfolios.
Low-risk investorWeak fitHigh exposure to commodity price volatility and geopolitical factors makes this stock unsuitable for conservative, low-risk investors.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighFluctuations in global wheat prices directly impact the company's cost of goods sold and operational margins.
Valuation riskMediumAs a smaller-cap international player, valuation can be highly sensitive to changes in investor sentiment and regional risk perceptions.
Competition risk (Agribusiness)HighLarge global players can exert pricing pressure or out-compete on logistics, posing a persistent threat to market share.
Business qualityMediumThe business relies on essential staple food production but operates in complex and sometimes volatile emerging market environments.
Dividend incomeLow / noneThe company prioritizes reinvestment over shareholder cash distributions.
Execution riskMedium / highSuccessfully managing large-scale infrastructure and regional supply chains requires precise operational execution across diverse jurisdictions.

Price Behavior

Steady Uptrend
PRICE PATH

Steady Uptrend

The stock demonstrates consistent and steady upward price momentum.

Smooth
PRICE STABILITY

Smooth

The stock has moved along a generally orderly path with only modest fluctuations.

Analysis of Past Performance

Type Stock
Historic Profit 25.37%
Avg. Invested days 63
Today’s Advisory Consider higher Upturn Star rating
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Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/28/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
AFRI receives a 2-star rating, reflecting soft or weak scores across the available pillars. The rating is constrained by weak unit economics, soft company fundamentals, and soft analyst coverage.

Company Fundamentals

★★★★★
AFRI has soft overall fundamentals (2 stars), with soft financial health, soft growth momentum, and moderate ownership. In FY2025 versus FY2024, strong earnings growth (+38.8%) is partially offset by weak cash generation (FCF margin -0.1%), negative revenue growth (-35.6%), weak profitability (net margin -8.4%).

Financial Health Rating

★★★★★
AFRI's financial health is soft, with the relatively strongest area being moderate efficiency, including operating-expense and cost-of-revenue discipline (opex 11.6% of revenue). Profitability is weak (1 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
Earnings growth is AFRI's strongest growth driver at +38.8% FY2025 versus FY2024 (strong, 5 stars). By comparison, while revenue growth (-35.6%, negative) and free-cash-flow growth (-100.8%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 3.5% (soft) and 18.2% of outstanding shares are publicly tradable (soft). Insider ownership of 81.59% supports management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 0.50%
Geode Capital Management, LLC 0.25%
State Street Corp 0.18%
Northern Trust Corp 0.14%
Vanguard Portfolio Management, LLC 0.12%

Unit Economics (Per $1K Revenue)

★★★★★
AFRI generates approximately $102 of gross profit, $-14 of operating income, and $-1 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Operating losses and cash burn explain the 1-star rating, with weak cash conversion and weak capital efficiency.

Economic Dimensions

★★★★★
Effective Tax Rate: -12.90% (Tax Credit)

Quantitative Style Profile

★★★★★
AFRI has a relatively low-volatility profile. Weak momentum is the primary drawback, while valuation that is moderately attractive rather than deeply discounted.

Style Classification

Quality Focused

Low VolatilitySmall / Mid Cap Risk

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 295.79M USD
Price to earnings Ratio -
1Y Target Price -
Price to earnings Ratio -
1Y Target Price -
Volume (30-day avg) 24.6K shares
Beta 0.37
52 Weeks Range 8.13 - 11.91
Updated Date 09/27/2026
52 Weeks Range 8.13 - 11.91
Updated Date 09/27/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.45

How Company Makes Money

Business areaWhat it includesRetail investor read
Wheat Milling & Flour SalesProcessing wheat into flour for bakeries, retail, and commercial food producers.The company makes the most money by turning raw wheat into essential ingredients used in daily food staples.
Geography: North AfricaConcentrated operations in markets such as Morocco.Revenue is heavily tied to the economic and consumer demand trends within North Africa.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE -
Enterprise Value 442.76M
Price to Sales(TTM) 1.68
Enterprise Value 442.76M
Price to Sales(TTM) 1.68
Enterprise Value to Revenue 2.51
Enterprise Value to EBITDA 43.54
Shares Outstanding 26.96M
Shares Floating 4.90M
Shares Outstanding 26.96M
Shares Floating 4.90M
Percent Insiders 81.59
Percent Institutions 3.52

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Forafric Global PLC Ordinary Shares

Exchange NASDAQ
Headquarters -
IPO Launch date 2022-06-10
Chairman of the Board & CEO Mr. Khalid Assari
Sector Consumer Defensive
Industry Farm Products
Full time employees 600
Full time employees 600

Forafric Global PLC engages in the purchase, storage, transport, processing, and sale of agricultural commodities and commodity products in Morocco and West Africa. It operates through Soft Wheat, Durum Wheat, and Couscous and Pasta segments. The company provides wheat flours and semolina; and secondary processing products, such as pasta and couscous. It operates under the TRIA and MayMouna brand names. The company serves wholesale foods manufacturers and distributors. It also exports its products to approximately 45 countries. Forafric Global PLC was founded in 1926 and is headquartered in Gibraltar.