TTEN3 Integrated Agribusiness Model from the FRE
3tentos (TTEN3) discloses a classic Brazilian agribusiness stack in the FRE: input retail → grain origination → industrial crush/biodiesel, with numbers large enough to model segment arbitrage.
This page summarizes a business-model analysis from the 2025 FRE. apicvm supplies the filings.
The research question
> Describe history, business model, competitive advantages, and market position with key operating metrics.
Operating footprint
| Segment | Scale (disclosed) |
|---|---|
| Input retail | 70 stores (58 RS / 12 MT); ~24k active clients |
| Grain | Static storage ~1.7 Mt; 2024 origination >3.95 Mt |
| Industry | 3 plants; soybean crush 7,000 t/day; biodiesel 1,850 m³/day |
| Logistics | Own fleet 116 trucks; rail access at key units |
| Net revenue (2024) | ~R$ 12.8 billion |
| Domestic / export gross revenue mix | 60.5% / 39.5% |
Family origins date to 1954; formal company ops from 1995; IPO in 2021; Novo Ciclo de Crescimento investments announced for 2024–2030.
Segment revenue mix (2024)
| Segment | Share of net revenue | Gross margin (pre-adj.) |
|---|---|---|
| Industry | ~53% | 19.5% |
| Grains | ~25% | 10.5% |
| Inputs | ~22% | 18.0% |
Management highlights internal margin arbitrage (route tons to the most profitable channel), barter-linked origination, and technical programs such as Produzir+ (+6.2% average productivity among participants).
Why this page exists
Prior TTEN3 posts covered phytosanitary risk, 2030 capex, and guidance. This one is the model map — the structure you need before those risk and projection pages make sense.
Replicate with apicvm
export APICVM_KEY='apicvm_...'
export APICVM_URL='https://apicvm.dev'
curl -H "Authorization: Bearer $APICVM_KEY" \
"$APICVM_URL/v1/companies/resolve?query=TTEN3&by=ticker"
curl -H "Authorization: Bearer $APICVM_KEY" \
"$APICVM_URL/v1/documents?ticker=TTEN3&type=FRE&year=2025&name=Hist"
curl -X POST -H "Authorization: Bearer $APICVM_KEY" \
-H "Content-Type: application/json" \
-d '{"callback_url":"https://your-server/callback","document":{"id":"<id>"}}' \
"$APICVM_URL/v1/document-text-extractions"Methodology note
Findings above come from a completed Hold analysis of the company's public 2025 FRE. This is a research illustration, not investment, legal, or tax advice. Verify numbers against the original filing before trading, modeling, or publishing reports.
Limitations
- apicvm returns filings and extracted text — it does not classify risks or compute coverage ratios.
- Figures are as of the FRE filing date; later ITRs or facts relevantes can update them.
- Corpus coverage depends on ingestion lag.
Next steps
Ready to integrate?
Get an API key and start querying Brazilian CVM filings programmatically.