NYSE : AGCO
AGCO Corporation — Financial statements
Industrials · Farm & Heavy Construction Machinery · United States
Last price 107.84 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 7.55B
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Financial statements
AGCO Corporation (AGCO) reported revenue of 10.14B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 10.14B | 10.08B | 11.66B | 14.41B | 12.65B | 11.14B |
| Cost of Revenue | 7.60B | 7.52B | 8.76B | 10.63B | 9.65B | 8.57B |
| Gross Profit | 2.53B | 2.57B | 2.90B | 3.78B | 3.00B | 2.57B |
| Selling, General & Admin | 1.30B | 1.32B | 1.40B | 1.45B | 1.20B | 1.09B |
| Research & Development | 526.60M | 487.70M | 493.00M | 548.80M | 444.20M | 405.80M |
| Amortization of Goodwill & Intangibles | 68.20M | 71.10M | 81.00M | 57.70M | 60.10M | 61.10M |
| Operating Expenses | 1.90B | 1.88B | 1.98B | 2.06B | 1.70B | 1.56B |
| Operating Income | 635.90M | 687.50M | 921.20M | 1.72B | 1.30B | 1.02B |
| Interest Expense | -118.10M | -123.00M | -159.30M | -68.80M | -46.00M | -25.40M |
| Interest & Investment Income | 56.60M | 56.60M | 66.30M | 64.20M | 33.00M | 18.70M |
| Earnings From Equity Investments | 41.00M | 39.60M | 46.40M | 68.20M | 64.10M | 65.60M |
| Currency Exchange Gain (Loss) | 65.50M | 24.30M | -49.30M | 29.90M | -38.20M | 54.80M |
| Other Non Operating Income (Expenses) | 64.80M | 59.60M | -144.70M | -380.50M | -99.70M | -106.70M |
| EBT Excluding Unusual Items | 745.70M | 744.60M | 680.60M | 1.43B | 1.21B | 1.02B |
| Merger & Restructuring Charges | -72.60M | -82.20M | -195.80M | -27.90M | -6.10M | -15.30M |
| Gain (Loss) on Sale of Assets | 1.50M | -10.80M | -507.30M | |||
| Asset Writedown | -4.80M | -10.00M | -369.50M | -4.10M | -36.00M | |
| Other Unusual Items | -200.00K | 1.20M | ||||
| Pretax Income | 417.90M | 641.60M | -387.20M | 1.40B | 1.17B | 1.01B |
| Income Tax Expense | 147.50M | -77.40M | 98.40M | 230.40M | 296.60M | 108.40M |
| Earnings From Continuing Operations | 270.40M | 719.00M | -485.60M | 1.17B | 874.70M | 901.50M |
| Minority Interest in Earnings | 9.00M | 7.50M | 60.80M | 100.00K | 14.90M | -4.50M |
| Net Income | 279.40M | 726.50M | -424.80M | 1.17B | 889.60M | 897.00M |
| Net Income to Common | 279.40M | 726.50M | -424.80M | 1.17B | 889.60M | 897.00M |
| Shares Outstanding (Basic) | 71.70M | 74.40M | 74.60M | 74.80M | 74.60M | 75.20M |
| Shares Outstanding (Diluted) | 71.80M | 74.50M | 74.70M | 74.90M | 74.90M | 75.70M |
| EPS (Basic) | 3.90 | 9.76 | -5.69 | 15.66 | 11.92 | 11.93 |
| EPS (Diluted) | 3.89 | 9.75 | -5.69 | 15.63 | 11.87 | 11.85 |
| Free Cash Flow | 294.40M | 740.20M | 296.60M | 585.00M | 449.90M | 390.40M |
| Free Cash Flow Per Share | 4.10 | 9.94 | 3.97 | 7.81 | 6.01 | 5.16 |
| Dividend Per Share | 1.18 | 1.16 | 1.16 | 1.11 | 0.92 | 0.76 |
| Gross Margin | 25.00% | 25.46% | 24.86% | 26.21% | 23.72% | 23.09% |
| Operating Margin | 6.27% | 6.82% | 7.90% | 11.94% | 10.28% | 9.13% |
| Profit Margin | 2.76% | 7.21% | -3.64% | 8.13% | 7.03% | 8.05% |
| Free Cash Flow Margin | 2.90% | 7.34% | 2.54% | 4.06% | 3.56% | 3.50% |
| EBITDA | 972.20M | 1.02B | 1.25B | 2.01B | 1.57B | 1.30B |
| EBITDA Margin | 9.59% | 10.07% | 10.75% | 13.94% | 12.41% | 11.66% |
| D&A For EBITDA | 336.30M | 327.60M | 332.20M | 288.10M | 269.60M | 281.80M |
| EBIT | 635.90M | 687.50M | 921.20M | 1.72B | 1.30B | 1.02B |
| EBIT Margin | 6.27% | 6.82% | 7.90% | 11.94% | 10.28% | 9.13% |
| Effective Tax Rate | 35.30% | 16.44% | 25.32% | 10.73% | ||
| Advertising Expenses | 40.90M | 53.40M | 56.40M | 50.90M | 54.20M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 415.10M | 861.80M | 612.70M | 595.50M | 789.50M | 889.10M |
| Cash & Short-Term Investments | 415.10M | 861.80M | 612.70M | 595.50M | 789.50M | 889.10M |
| Receivables | 1.23B | 1.08B | 1.27B | 1.61B | 1.22B | 991.50M |
| Inventory | 3.00B | 2.71B | 2.73B | 3.44B | 3.19B | 2.59B |
| Other Current Assets | 540.80M | 545.60M | 526.60M | 699.30M | 538.80M | 539.80M |
| Total Current Assets | 5.19B | 5.20B | 5.14B | 6.34B | 5.74B | 5.01B |
| Property, Plant & Equipment | 2.09B | 2.16B | 1.99B | 2.10B | 1.76B | 1.62B |
| Long-Term Investments | 497.30M | 609.90M | 519.60M | 512.70M | 436.90M | 413.50M |
| Goodwill | 1.88B | 1.90B | 1.82B | 1.33B | 1.31B | 1.28B |
| Other Intangible Assets | 627.30M | 673.00M | 728.90M | 308.80M | 364.40M | 392.20M |
| Long-Term Deferred Tax Assets | 1.00B | 905.50M | 561.00M | 481.60M | 228.50M | 169.30M |
| Other Long-Term Assets | 458.50M | 481.00M | 435.20M | 346.80M | 268.70M | 293.30M |
| Total Assets | 11.75B | 11.93B | 11.19B | 11.42B | 10.10B | 9.18B |
| Accounts Payable | 1.02B | 951.00M | 813.00M | 1.21B | 1.39B | 1.08B |
| Accrued Expenses | 1.62B | 1.57B | 1.47B | 1.78B | 1.35B | 1.25B |
| Short-Term Debt | 76.90M | 56.10M | 90.40M | 12.70M | 90.80M | |
| Current Portion of Long-Term Debt | 459.20M | 61.60M | 324.80M | 2.30M | 196.00M | 2.10M |
| Current Portion of Leases | 42.10M | 48.20M | 45.50M | 45.90M | 42.90M | 46.10M |
| Current Income Taxes Payable | 249.80M | 239.50M | 401.20M | 344.80M | 282.50M | |
| Other Current Liabilities | 727.40M | 795.30M | 842.50M | 894.30M | 772.10M | 701.50M |
| Total Current Liabilities | 3.94B | 3.73B | 3.83B | 4.34B | 4.09B | 3.45B |
| Long-Term Debt | 2.14B | 2.32B | 2.23B | 1.38B | 1.26B | 1.41B |
| Long-Term Leases | 133.70M | 127.80M | 132.60M | 139.80M | 130.80M | 121.50M |
| Pension & Post-Retirement Benefits | 166.80M | 169.20M | 155.60M | 170.50M | 158.00M | 209.00M |
| Long-Term Deferred Tax Liabilities | 123.60M | 126.50M | 125.00M | 122.60M | 112.00M | 116.90M |
| Other Long-Term Liabilities | 885.00M | 879.40M | 675.20M | 610.70M | 467.50M | 425.10M |
| Total Liabilities | 7.39B | 7.36B | 7.15B | 6.76B | 6.22B | 5.74B |
| Common Stock | 700.00K | 700.00K | 700.00K | 700.00K | 700.00K | 700.00K |
| Additional Paid-In Capital | 1.30M | 500.00K | 4.10M | 30.20M | 3.90M | |
| Retained Earnings | 5.79B | 6.05B | 5.64B | 6.36B | 5.65B | 5.18B |
| Comprehensive Income & Other | -1.73B | -1.77B | -1.90B | -1.71B | -1.80B | -1.77B |
| Total Common Equity | 4.07B | 4.27B | 3.74B | 4.66B | 3.88B | 3.42B |
| Minority Interest | 290.40M | 299.20M | 300.10M | 100.00K | 200.00K | 27.90M |
| Shareholders' Equity | 4.36B | 4.57B | 4.04B | 4.66B | 3.88B | 3.44B |
| Total Liabilities & Equity | 11.75B | 11.93B | 11.19B | 11.42B | 10.10B | 9.18B |
| Total Debt | 2.85B | 2.62B | 2.83B | 1.58B | 1.63B | 1.67B |
| Net Cash (Debt) | -2.44B | -1.75B | -2.21B | -982.40M | -845.00M | -782.60M |
| Net Cash Per Share | -33.95 | -23.56 | -29.64 | -13.12 | -11.28 | -10.34 |
| Filing Date Shares Outstanding | 68.95M | 72.40M | 74.58M | 74.62M | 74.85M | 74.54M |
| Total Common Shares Outstanding | 68.95M | 72.63M | 74.42M | 74.52M | 74.60M | 74.44M |
| Working Capital | 1.25B | 1.47B | 1.31B | 2.00B | 1.65B | 1.56B |
| Book Value Per Share | 58.96 | 58.84 | 50.29 | 62.49 | 52.04 | 45.89 |
| Tangible Book Value | 1.56B | 1.70B | 1.19B | 3.01B | 2.21B | 1.74B |
| Tangible Book Value Per Share | 22.58 | 23.43 | 16.04 | 40.45 | 29.59 | 23.41 |
| Land | 162.50M | 141.80M | 154.00M | 141.10M | 141.00M | |
| Buildings | 1.13B | 998.30M | 1.04B | 920.70M | 875.90M | |
| Machinery | 3.57B | 3.12B | 3.39B | 2.97B | 2.87B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 279.40M | 726.50M | -424.80M | 1.17B | 889.60M | 897.00M |
| Depreciation & Amortization | 336.30M | 327.60M | 332.20M | 288.10M | 269.60M | 281.80M |
| Loss (Gain) From Sale of Assets | -1.50M | 10.80M | 507.30M | |||
| Asset Writedown & Restructuring Costs | 4.80M | 10.00M | 369.50M | 4.10M | 36.00M | |
| Loss (Gain) From Sale of Investments | -251.90M | |||||
| Loss (Gain) on Equity Investments | -22.70M | -20.60M | -29.40M | -36.40M | -40.80M | -1.90M |
| Stock-Based Compensation | 38.00M | 28.40M | 18.40M | 46.40M | 34.00M | 27.40M |
| Other Operating Activities | -107.40M | -338.30M | -112.80M | -257.80M | -56.70M | -92.90M |
| Change in Accounts Receivable | -31.40M | 231.00M | 59.10M | -443.80M | -306.10M | -207.70M |
| Change in Inventory | 48.50M | 237.50M | 308.80M | -164.40M | -668.30M | -762.60M |
| Change in Accounts Payable | 47.90M | 43.40M | -224.90M | -191.60M | 322.10M | 292.20M |
| Change in Other Net Operating Assets | -46.70M | -16.30M | -113.50M | 687.10M | 358.80M | 226.90M |
| Operating Cash Flow | 545.20M | 988.10M | 689.90M | 1.10B | 838.20M | 660.20M |
| Capital Expenditures | -250.80M | -247.90M | -393.30M | -518.10M | -388.30M | -269.80M |
| Sale of Property, Plant & Equipment | 600.00K | 2.00M | 2.10M | 11.80M | 2.60M | 6.30M |
| Cash Acquisitions | -1.90B | -9.80M | -111.30M | -22.60M | ||
| Divestitures | 10.50M | -1.80M | 630.70M | |||
| Investment in Securities | 131.40M | 236.80M | -7.40M | -21.60M | 4.00M | 13.10M |
| Other Investing Activities | -25.40M | -17.40M | 21.20M | -8.00M | -3.80M | -15.40M |
| Investing Cash Flow | -133.70M | -28.30M | -1.65B | -545.70M | -496.80M | -288.40M |
| Long-Term Debt Issued | 57.00M | 1.88B | 329.80M | 410.50M | 2.50B | |
| Long-Term Debt Repaid | -436.70M | -513.40M | -458.60M | -377.50M | -2.50B | |
| Net Debt Issued (Repaid) | -127.80M | -379.70M | 1.36B | -128.80M | 33.00M | -3.80M |
| Repurchase of Common Stock | -663.00M | -263.00M | -36.10M | -74.60M | -20.60M | -169.90M |
| Common Dividends Paid | -84.30M | -86.50M | -86.50M | -83.00M | -68.60M | -57.00M |
| Other Financing Activities | -7.60M | -10.90M | -15.10M | -7.30M | ||
| Financing Cash Flow | -875.10M | -729.20M | 1.05B | -671.70M | -407.00M | -539.50M |
| Foreign Exchange Rate Adjustments | -5.40M | 18.50M | -67.80M | -79.70M | -34.00M | -62.30M |
| Net Cash Flow | -469.00M | 249.10M | 17.20M | -194.00M | -99.60M | -230.00M |
| Free Cash Flow | 294.40M | 740.20M | 296.60M | 585.00M | 449.90M | 390.40M |
| Free Cash Flow Margin | 2.90% | 7.34% | 2.54% | 4.06% | 3.56% | 3.50% |
| Free Cash Flow Per Share | 4.10 | 9.94 | 3.97 | 7.81 | 6.01 | 5.16 |
| Levered Free Cash Flow | 400.52M | 850.01M | 736.09M | 486.94M | 407.88M | 142.65M |
| Unlevered Free Cash Flow | 474.34M | 926.89M | 835.65M | 529.94M | 436.62M | 158.53M |
| Cash Interest Paid | 121.90M | 121.90M | 125.50M | 60.50M | 45.10M | 23.80M |
| Cash Income Tax Paid | 283.10M | 283.10M | 344.00M | 463.60M | 304.00M | 247.30M |
| Change in Working Capital | 18.30M | 495.60M | 29.50M | -112.70M | -293.50M | -451.20M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.65B | 7.78B | 6.98B | 9.09B | 10.35B | 8.68B |
| Enterprise Value | 10.08B | 10.22B | 10.91B | 10.61B | 12.10B | 9.96B |
| Last Close Price | 110.91 | 103.52 | 91.73 | 115.14 | 125.01 | 100.02 |
| PE Ratio | 28.51 | 10.71 | 7.76 | 11.63 | 9.68 | |
| Forward PE | 17.10 | 18.69 | 21.37 | 9.07 | 10.40 | 12.09 |
| PS Ratio | 0.75 | 0.77 | 0.60 | 0.63 | 0.82 | 0.78 |
| PB Ratio | 1.88 | 1.70 | 1.73 | 1.95 | 2.67 | 2.52 |
| P/TBV Ratio | 4.91 | 4.58 | 5.85 | 3.02 | 4.69 | 4.98 |
| P/FCF Ratio | 25.98 | 10.52 | 23.53 | 15.54 | 23.00 | 22.24 |
| P/OCF Ratio | 14.03 | 7.88 | 10.11 | 8.24 | 12.34 | 13.15 |
| PEG Ratio | 0.72 | 0.77 | 27.72 | 1.61 | 1.03 | 0.42 |
| EV/Sales Ratio | 1.00 | 1.01 | 0.94 | 0.74 | 0.96 | 0.89 |
| EV/EBITDA Ratio | 10.37 | 10.07 | 8.71 | 5.28 | 7.71 | 7.67 |
| EV/EBIT Ratio | 15.86 | 14.87 | 11.85 | 6.17 | 9.31 | 9.79 |
| EV/FCF Ratio | 34.26 | 13.81 | 36.79 | 18.14 | 26.90 | 25.52 |
| Debt / Equity Ratio | 0.66 | 0.57 | 0.70 | 0.34 | 0.42 | 0.48 |
| Debt / EBITDA Ratio | 2.70 | 2.38 | 2.11 | 0.75 | 1.00 | 1.21 |
| Debt / FCF Ratio | 9.69 | 3.54 | 9.53 | 2.70 | 3.63 | 4.28 |
| Net Debt / Equity Ratio | 0.56 | 0.38 | 0.55 | 0.21 | 0.22 | 0.23 |
| Net Debt / EBITDA Ratio | 2.51 | 1.73 | 1.77 | 0.49 | 0.54 | 0.60 |
| Net Debt / FCF Ratio | 8.28 | 2.37 | 7.46 | 1.68 | 1.88 | 2.00 |
| Asset Turnover | 0.84 | 0.87 | 1.03 | 1.34 | 1.31 | 1.26 |
| Inventory Turnover | 2.50 | 2.76 | 2.84 | 3.21 | 3.34 | 3.75 |
| Quick Ratio | 0.42 | 0.52 | 0.49 | 0.51 | 0.49 | 0.54 |
| Current Ratio | 1.32 | 1.39 | 1.34 | 1.46 | 1.40 | 1.45 |
| Return on Equity (ROE) | 5.91% | 16.69% | -11.16% | 27.43% | 23.88% | 27.90% |
| Return on Assets (ROA) | 3.28% | 3.72% | 5.09% | 9.99% | 8.43% | 7.19% |
| Return on Invested Capital (ROIC) | 6.10% | 10.93% | 15.49% | 27.74% | 21.69% | 22.91% |
| Return on Capital Employed (ROCE) | 8.10% | 8.40% | 12.50% | 24.30% | 21.60% | 17.80% |
| Earnings Yield | 3.51% | 9.33% | -6.09% | 12.88% | 8.60% | 10.33% |
| FCF Yield | 3.85% | 9.51% | 4.25% | 6.44% | 4.35% | 4.50% |
| Dividend Yield | 1.08% | 1.08% | 1.24% | 0.91% | 0.66% | 0.65% |
| Payout Ratio | 30.85% | 11.91% | 7.09% | 7.71% | 6.35% | |
| Buyback Yield / Dilution | 3.98% | 0.27% | 0.27% | -0.27% | 1.06% | -0.13% |
| Total Shareholder Return | 5.06% | 1.35% | 1.50% | 0.64% | 1.72% | 0.52% |