2025年一季度Agtech公共资产负债表和估值指南2025

EMERGING TECH RESEARCH Agtech PublicComp Sheet andValuation Guide PitchBook Data, Inc. Key takeaways Nizar TarhuniExecutive Vice President of Researchand Market Intelligence Paul CondraGlobal Head of Private Markets Research •Agtech performance variations:Public markets faced significant challenges in Q1, with the S&P 500 declining by 5% and theNasdaq dropping 10%. Within the agricultural technology sector, stock activity varied widely across segments. Plant biotechincumbents experienced a median stock price increase of 10%, reflecting investor confidence in established players. Conversely,indoor farming solutions struggled, with median stock prices plummeting by 47%, highlighting ongoing operational andadoption challenges. James UlanDirector of EmergingTechnology Research Institutional Research Group Analysis Alex FrederickSenior Research Analyst,Agtech and Foodtechalex.frederick@pitchbook.com •Revenue growth projections:Agtech companies have experienced a roller-coaster growth trajectory in recent years. Aftermodest 2% revenue growth in 2023, the sector contracted by 5% in 2024. Forecasts indicate a return to positive territory with 2%growth expected in 2025, driven by accelerating technology adoption. However, this recovery remains vulnerable to uncertaintiessurrounding US import policies and potential retaliatory tariffs in international markets. Ben RiccioAssociate Research Analystben.riccio@pitchbook.com Published on April 23, 2025pbinstitutionalresearch@pitchbook.com •EBITDA margin outlook:Median EBITDA margins across the agtech sector are projected to remain relatively stable, shiftingslightly from 17% in 2024 to 16% in 2025. The animal agriculture subsector continues to demonstrate superior profitability, withmargins expected to expand from an already strong 23% in 2024 to 28% in 2025, substantially outperforming other agtechsegments. This growth reflects improved operational efficiencies and higher-value product offerings within this segment. Contents PitchBook clients can accessthe full Excel data pack for thisreport via the Details tab in thedocument viewer. Stock returns Valuations Revenue PitchBook clients can access thefull Excel data packfor this report via the Details tab in the document viewer. Revenue EBITDA EBITDA ©2025 by PitchBook Data, Inc. All rights reserved. No part of this publication may be reproduced in any form or by any means—graphic, electronic, or mechanical,including photocopying, recording, taping, and information storage and retrieval systems—without the express written permission of PitchBook Data, Inc. Contents arebased on information from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.Nothingherein should be construed as any past, currentor future recommendation to buy or sell any security or an offer to sell, or a solicitation of an offer to buy any security. This material does not purport to contain all of theinformation that a prospective investor may wish to consider and is not to be relied upon as such or used in substitution for the exercise of independent judgment.