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Makes Fendt, Massey Ferguson and Valtra farm tractors and agricultural equipment.
Makes Fendt, Massey Ferguson and Valtra farm tractors and agricultural equipment.
Sells machines through independent dealers who hold stock, with customer loans offered by AGCO Finance, a joint venture with Rabobank. Europe, where Fendt is the strongest brand, provides the largest share of sales. In 2024 it bought most of Trimble's agricultural technology business to build a precision-technology arm.
Moat: narrow (brand, distribution). Multi-brand regional strength, especially Fendt in Europe, but smaller global scale than Deere.
Headquarters: Duluth, Georgia, USA · Founded: 1990 · Employees: 22,000
Size AGCO (AGCO) is a United States Industrials company (Trucks/Construction/Farm Machinery) with a market value of $7.61B, the 915th largest of 3,117 United States companies the cockpit tracks. Shares closed at $110.44 on 6 Nov 2026.
Performance Over six months the shares fell 5.9%, against -12.2% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 0.9% over the last twelve months (peer median +9.9%); the operating margin is 6.4% (peer median 12.0%).
Valuation It trades at 17.1× forward earnings against a peer median of 16.1× (9th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +9 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.7 points below its cost of capital (9.1% WACC).
Credit AGCO has 3 bonds outstanding ($1.77B), rated BBB- by the agencies and trading like BBB at a weighted spread of 112 bp.
Short interest Short interest is 5.3% of the free float (15 Oct 2026).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $10.1B | $10.1B | $11.7B | $14.4B | $12.7B |
| Revenue growth | — | -14% | -19% | +14% | — |
| Gross profit | $2.47B | $2.49B | $2.84B | $3.74B | $2.96B |
| EBITDA | $989M | $1.02B | $1.31B | $2.02B | $1.59B |
| Net income | $279M | $726M | -$425M | $1.17B | $890M |
| Free cash flow | $294M | $740M | $297M | $585M | $450M |
| Capital expenditure | $251M | $248M | $393M | $518M | $388M |
| Total debt | $2.80B | $2.62B | $2.83B | $1.58B | $1.63B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| AGCO AGCO | $7.61B | -6% | +1% | 6% | 17.1× | 10.5% |
| Deere & DE | $181B | +17% | +8% | 20% | 32.0× | 16.2% |
| CNH Industrial CNH | $14.3B | +5% | +1% | 13% | 21.1× | 7.4% |
| Kubota 6326.T | $18.2B | 0% | +13% | 11% | 10.0× | 7.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AGCO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.1% | -7.6% | 6th highest of 21 |
| 6-month return | -5.9% | -12.2% | 9th highest of 21 |
| Distance from 52-week high | -23.2% | -30.9% | 6th highest of 21 |
| Revenue growth (TTM) | +0.9% | +9.9% | 3rd lowest of 21 |
| Operating margin | 6.4% | 12.0% | 7th lowest of 21 |
| Forward P/E | 17.1× | 16.1× | 9th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 10.5% | 3.5% | 5th most demanding of 18 |
| Growth delivered (Del g) | +2.0% | +11.6% | 2nd lowest of 18 |
| Hurdle (Req g minus delivered) | +8.6 pp | -7.6 pp | 2nd most demanding of 18 |
| ROIC minus cost of capital | -1.7 pp | +10.2 pp | 8th lowest of 19 |
| EV / EBITDA | 10.4× | 11.8× | 7th cheapest of 17 |
| Net debt / EBITDA | 2.4× | 1.1× | 5th most indebted of 18 |
| Bond spread | 112 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AGCO AGCO | United States | $7.61B | -6% | +1% | 6% | 17.1× | 10.5% | +2.0% |
| Gaztransport & Technigaz GTT.PA | France | $7.50B | -13% | +9% | 64% | 16.1× | -3.1% | +15.2% |
| Konecranes KCR.HE | Finland | $7.47B | +5% | -1% | 13% | 15.9× | 9.1% | +5.7% |
| Mazagon Dock Shipbuilders MAZDOCK.NS | India | $7.87B | -31% | +8% | 15% | 30.5× | n/a | n/a |
| Accelleron Industries ACLN.SW | Switzerland | $7.29B | -25% | +13% | 25% | 25.1× | 3.5% | +12.1% |
| Doosan 000150.KS | South Korea | $7.10B | -60% | +11% | 6% | 16.1× | 15.0% | +11.6% |
| Weir WEIR.L | United Kingdom | $8.18B | -3% | +6% | 18% | 18.1× | 19.3% | +5.5% |
| Babcock International BAB.L | United Kingdom | $6.60B | 0% | +7% | 6% | 15.4× | 13.2% | +5.5% |
| Hitachi Construction Machinery 6305.T | Japan | $6.36B | -12% | +7% | 10% | 11.2× | 3.9% | +11.6% |
| Terex TEX | United States | $6.18B | -14% | +40% | 7% | 9.9× | 12.1% | +12.0% |
| Toro TTC | United States | $9.92B | +10% | +5% | 11% | 21.2× | 5.6% | +6.0% |
| Hyundai Rotem 064350.KS | South Korea | $5.75B | -73% | +12% | 15% | 9.7× | -4.0% | +16.0% |
| SamsungHvyInd 010140.KS | South Korea | $10.2B | -50% | +30% | 27% | 13.3× | -20.3% | +11.4% |
| TKMS AG & Co. KGaA TKMS.DE | Germany | $5.57B | +8% | +15% | 5% | 39.8× | n/a | n/a |
| Alstom ALO.PA | France | $5.56B | -40% | +4% | 4% | n/a | 2.7% | +16.9% |
| Hanwha Ocean 042660.KS | South Korea | $10.7B | -64% | +18% | 13% | 8.7× | -12.4% | +13.2% |
| Kongsberg Maritime KMAR.OL | Norway | $5.43B | -1% | +6% | 13% | 21.8× | 0.9% | +6.3% |
| Ashok Leyland ASHOKLEY.NS | India | $10.7B | +1% | +16% | 17% | 24.8× | n/a | n/a |
| Fincantieri FCT.MI | Italy | $4.98B | +3% | -1% | 0% | 21.5× | 1.2% | +9.1% |
| Seatrium 5E2.SI | Singapore | $4.77B | -19% | +11% | 4% | 13.0× | 4.0% | +50.0% |
| Sinotruk Hong Kong 3808.HK | Hong Kong | $12.3B | -12% | +38% | 7% | 9.4× | -3.2% | +1.5% |
AGCO has 3 bonds outstanding with $1.77B face value. The agencies rate it BBB-; its bonds trade like BBB. Weighted yield 5.00%, a spread of 112 bp over government bonds.