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AGCO

AGCO Corporation

AGCO

AGCO Corporation • NYSE
$105.96 ▲ 0.36% (+0.38)
Market Cap $7.91 B
52w High $121.16
52w Low $73.79
Dividend Yield 1.16%
P/E 21.07
Volume 284.61K
Outstanding Shares 74.62M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.476B ▼ $486.8M ▲ $305.7M ▼ 12.345% ▲ $4.1 ▼ $452.7M ▲
Q2-2025 $2.635B ▲ $444.2M ▲ $314.8M ▲ 11.947% ▲ $4.22 ▲ $195.1M ▲
Q1-2025 $2.05B ▼ $441.8M ▲ $10.5M ▲ 0.512% ▲ $0.14 ▲ $93.1M ▲
Q4-2024 $2.887B ▲ $426.2M ▼ $-255.7M ▼ -8.856% ▼ $-3.43 ▼ $-230.3M ▼
Q3-2024 $2.599B $465.6M $30M 1.154% $0.4 $132M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $884.1M ▲ $12.467B ▲ $7.675B ▼ $4.491B ▲
Q2-2025 $783.9M ▲ $12.31B ▲ $7.837B ▲ $4.168B ▲
Q1-2025 $562.6M ▼ $11.481B ▲ $7.372B ▲ $3.809B ▲
Q4-2024 $612M ▼ $11.191B ▼ $7.148B ▼ $3.743B ▼
Q3-2024 $622.6M $13.507B $9.021B $4.149B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $302.7M ▼ $71M ▼ $189.3M ▲ $-150.8M ▼ $100.2M ▼ $2.1M ▼
Q2-2025 $314.4M ▲ $365.7M ▲ $-56.8M ▼ $-107.1M ▼ $221.3M ▲ $323.5M ▲
Q1-2025 $10.5M ▲ $-212.2M ▼ $-51.3M ▼ $205.2M ▲ $-50.1M ▼ $-260.4M ▼
Q4-2024 $-313.6M ▼ $797.9M ▲ $531.1M ▲ $-1.306B ▼ $-29.9M ▲ $683.9M ▲
Q3-2024 $28.9M $26.5M $-87.3M $15.9M $-34.7M $-59.8M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Grain Storage and Protein Production Systems
Grain Storage and Protein Production Systems
 $370.00M ▲$0 ▼$0 ▲$0 ▲
Replacement Part Sales
Replacement Part Sales
 $910.00M ▲$430.00M ▼$500.00M ▲$500.00M ▲
Tractors
Tractors
 $3.88Bn ▲$1.25Bn ▼$1.70Bn ▲$1.65Bn ▼

Five-Year Company Overview

Income Statement

Income Statement AGCO’s recent results show a clear cycle: several strong, profitable years followed by a much weaker latest year. Revenue is still well above where it was a few years ago, but profits have swung from healthy to slightly negative. That suggests margin pressure – likely from softer demand, pricing pressure, higher costs, or one‑off charges – hitting earnings much harder than sales. The longer view still shows a company that was steadily improving its profitability up to last year, but the most recent downturn underlines how sensitive AGCO’s earnings are to the agricultural cycle and execution on costs. This adds earnings volatility risk, even though the underlying business appears structurally stronger than it was earlier in the decade.

Balance Sheet

Balance Sheet The balance sheet looks solid but has moved in a more leveraged direction. Assets have grown over time, reflecting investment in the business, while shareholders’ equity had been building steadily before slipping in the most recent year, in line with the weaker earnings picture. Debt has climbed meaningfully in the latest year, and cash on hand is lower than a few years ago. That combination points to higher financial risk than before, even if it remains manageable. Overall, AGCO still has a reasonable capital base, but the trend is toward more reliance on borrowing and less of a cushion than in the recent past.

Cash Flow

Cash Flow Despite the earnings dip, AGCO continues to generate positive cash from its operations, and free cash flow has been positive every year shown. Cash generation has improved over the medium term, even though it eased back in the most recent year. The company is consistently investing in its business, with capital spending stepping up from earlier levels but staying within what its cash flow can support. This pattern suggests a business that is cash‑generative and able to fund its growth and technology initiatives internally, though with less headroom when profits are under pressure.

Competitive Edge

Competitive Edge AGCO holds a strong position in global agricultural machinery, competing with a mix of large diversified peers and regional specialists. Its multi‑brand strategy – with Fendt at the premium end and Massey Ferguson and Valtra serving broader segments – lets it address different farm sizes, budgets, and regional preferences more flexibly than a single‑brand approach. A broad dealer and service network is a key asset, because uptime and support are critical for farmers. AGCO’s effort to strengthen and modernize this network, especially in North America, supports both sales and customer loyalty. At the same time, the industry is competitive and cyclical, with farmers’ purchasing power tied to crop prices and financing conditions, which can quickly swing volumes and pricing power. Overall, AGCO appears to be moving from being seen mainly as a machinery maker to being recognized as a technology partner for farmers, which can deepen its moat if executed well.

Innovation and R&D

Innovation and R&D Innovation is a major bright spot. AGCO is leaning heavily into precision agriculture, autonomy, and digital farming, rather than relying solely on selling bigger or more powerful machines. The joint venture with Trimble (PTx) positions AGCO as a leader in technology that works across mixed fleets, not just its own brands. This “retrofit‑first” approach can open doors to farmers who are not ready to replace entire machines but want better technology on existing equipment. Platforms like Fuse, advanced products such as Fendt IDEAL combines and the FendtONE interface, and specialized offerings like Valtra’s factory customization studio all differentiate AGCO on usability and farmer outcomes, not just hardware specs. R&D is also pushing into autonomy, electrification, and alternative fuels, supported by targeted acquisitions and a venture arm that scouts emerging ag‑tech. The main risk is execution: integrating these technologies, scaling them through the dealer network, and turning them into recurring, high‑margin revenue will take time and consistent investment.

Summary

AGCO looks like a cyclical but increasingly technology‑driven agricultural equipment company. Financially, it moved from several years of improving profitability to a loss in the most recent year, mainly from margin pressure rather than a collapse in revenue. Cash flow remains positive and supportive of investment, but debt has increased and the balance sheet is somewhat more stretched than before. Strategically, AGCO’s strengths lie in its multi‑brand portfolio, deep dealer relationships, and a clear push into precision agriculture, autonomy, and sustainable powertrains. These efforts could deepen its competitive moat and shift more of its value toward software, services, and data over time. The key uncertainties center on the agricultural cycle, the pace of farmer adoption of new technologies, and AGCO’s ability to balance heavy innovation spending with disciplined financial performance.

NEWS

November 21, 2025 · 8:00 AM UTC

AGCO to Present at the UBS 2025 Global Industrials & Transportation Conference

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November 13, 2025 · 2:15 PM UTC

AGCO Brands Win Key AGRITECHNICA Awards

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November 5, 2025 · 7:15 AM UTC

AGCO to Showcase Full-Line Innovation and Smart Farming Technologies at AGRITECHNICA 2025

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October 31, 2025 · 7:30 AM UTC

AGCO REPORTS THIRD-QUARTER RESULTS

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October 30, 2025 · 3:00 AM UTC

AGCO Power Unveils Next-Generation Sustainable Powertrain Innovations at Agritechnica 2025

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