AGCO Corporation was incorporated in Delaware in 1991. Unless otherwise indicated, all references in this Form 10-K to “AGCO,” “we,” “us” or the “Company” include AGCO Corporation and its subsidiaries. AGCO is a global leader in agricultural machinery and precision agriculture technologies. Driven by a Farmer-First strategy, AGCO delivers value through its differentiated leading brands, Fendt™, Massey Ferguson™, PTx™ and Valtra™. AGCO’s high-performance equipment and smart farming solutions, including brand-agnostic retrofit technologies and autonomous offerings, empower farmers to drive productivity while sustainably feeding the world. We distribute most of our products through approximately 2,800 independent dealers and distributors in approximately 140 countries. We also provide retail and wholesale financing through our finance joint ventures with Coöperatieve Rabobank U.A., which, together with its affiliates, we refer to as “Rabobank.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Tractors | $6.39B | $7.42B | $8.71B | $7.06B | $6.69B | 66% |
Replacement parts | $1.69B | $1.69B | $1.82B | $1.83B | $1.87B | 19% |
Combines, application equipment and other machinery | $1.99B | $2.44B | $2.82B | $1.94B | $1.51B | 15% |
Grain storage and protein production systems | $1.08B | $1.10B | $1.06B | $833M | $1M | 0% |
Other | — | — | $1.02B | $817M | — | — |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 10.1B | 10.1B | 11.7B | 14.4B | 12.7B | 11.1B |
| Net Income | 727M | 727M | -425M | 1.2B | 890M | 897M |
| EPS | $9.75 | $9.75 | $-5.69 | $15.63 | $11.87 | $11.85 |
| Free Cash Flow | 740M | 740M | 297M | 585M | 450M | 390M |
| ROIC | 11.1% | 10.5% | -2.1% | 27.6% | 21.2% | 23.1% |
| Gross Margin | 25.5% | 25.5% | 24.9% | 26.2% | 23.7% | 23.1% |
| Debt/Equity | 0.61 | 0.61 | 0.75 | 0.34 | 0.42 | 0.49 |
| Dividends/Share | $1.16 | $1.16 | $3.66 | $6.10 | $5.40 | $0.16 |
| Operating Income | 596M | 596M | -122M | 1.7B | 1.3B | 1.0B |
| Operating Margin | 5.9% | 5.9% | -1.0% | 11.8% | 10.0% | 9.0% |
| ROE | 17.0% | 18.1% | -10.1% | 27.4% | 24.4% | 28.0% |
| Shares Outstanding | 75M | 75M | 75M | 75M | 75M | 76M |
AGCO CORP /DE passes 5 of 9 quality checks, suggesting mixed fundamentals.
AGCO CORP /DE trades at 12.4x trailing earnings, compared to its 15-year median P/E of 12.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.9x vs a median of 13.8x. The company's 5-year average ROIC is 16.0% with a gross margin of 24.7%. Total shareholder yield (dividends + buybacks) is 3.7%. At current prices, the estimated annualized return to fair value is +6.9%.
AGCO CORP /DE (AGCO) has a current P/E ratio of 12.4, compared to its historical median P/E of 12.6. The stock is currently considered Fair based on its historical valuation range.
AGCO CORP /DE (AGCO) has a 5-year average return on invested capital (ROIC) of 16.0%. This indicates strong capital allocation and a potential competitive advantage.
AGCO CORP /DE (AGCO) has a market capitalization of $9.0B. It is classified as a mid-cap stock.
Yes, AGCO CORP /DE (AGCO) pays a dividend with a trailing twelve-month yield of 0.96%. The company also returns capital through share buybacks, with a buyback yield of 2.77%.
Based on historical P/E analysis, AGCO CORP /DE (AGCO) appears fair. The current P/E of 12.4 is 1% below its historical median of 12.6. The estimated fair value CAGR (P/E method) is 20.2%.
AGCO CORP /DE (AGCO) operates in the Farm Machinery & Equipment industry, within the Industrials sector.
AGCO CORP /DE (AGCO) reported annual revenue of $10.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
AGCO CORP /DE (AGCO) has a net profit margin of 7.2%. This is a modest margin.
AGCO CORP /DE (AGCO) generated $740 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
AGCO CORP /DE (AGCO) has a debt-to-equity ratio of 0.61. This indicates moderate leverage.
AGCO CORP /DE (AGCO) reported earnings per share (EPS) of $9.75 in its most recent fiscal year.
AGCO CORP /DE (AGCO) has a return on equity (ROE) of 18.1%. This indicates the company generates strong returns for shareholders.
AGCO CORP /DE (AGCO) has a 5-year average gross margin of 24.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for AGCO CORP /DE (AGCO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AGCO CORP /DE (AGCO) has a book value per share of $57.35, based on its most recent annual SEC filing.
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