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AGCO Corp (AGCO) stock

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NYSE: AGCO NYSE Agricultural & Farm Machinery Next results ~February 4, 2027

D Fundamentals grade

AGCO Corp is a US-listed company in the agricultural & farm machinery industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$61

Cash-flow model

Base case. Range ~$36–$94 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 47% below it.

Price used: $113.42, November 2, 2026

AGCO Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 5 selling1 purchase and 10 sales by directors and officers, last 12 monthsInsider trades
  • Funds259 adding, 213 cuttingOf 65 active managers that changed their stake, 29 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter AGCO files

10-Q filed October 29: AGCO

Rating: Hold to Sell Model value −34.0%

AGCO's revenue reached $10.1bn in the twelve months to September 2026, up 0.9% on a year earlier but slower than the 1.7% pace seen a quarter earlier. Free-cash-flow margin slipped to 2.9% from 7.5%, even as operating margin widened to 5.6% from 1.0%. A 3.8% reduction in the diluted share count over the year has boosted the value of each remaining share. Our model value has fallen from $91.16 to $60.17 a share, well below the current price of $111, prompting a rating change from Hold to Sell. At that price, the market appears to be pricing in cash-flow growth of about 9.6% a year for five years, far ahead of the -1.9% a year revenue growth AGCO has actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 30: AGCO

AGCO Corp generated revenue of $10.1bn in the twelve months to June 2026, up 0.9% on a year earlier but slower than the 1.7% pace recorded a quarter earlier. Profitability signals pulled in different directions: the free-cash-flow margin dropped to 2.9% from 7.5% a year ago, while the operating margin widened to 5.6% from 1.0%. A 3.8% reduction in the diluted share count over the same period has lifted the value attributable to each remaining share. Our model puts fair value at $91.16 a share, down slightly from $92.25, against a current share price of $109. We keep the rating at Hold. At that price, the market appears to be pricing in cash-flow growth of roughly 4.4% a year for five years, well ahead of the -1.9% a year revenue growth AGCO has actually delivered.

10-Q on SEC EDGAR

Where Agco stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $10.3bn, up 1.7% on a year earlier, faster than -3.8% a quarter earlier. That puts it 772 of 931 for growth among all the companies we cover. Free-cash-flow margin fell to 3.2% from 6.8% a year earlier. Operating margin widened to 5.8% from 0.6%. The diluted share count is down 2.0% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 6 financial-health checks. Our cash-flow model value is $104 a share, against a share price of $104. At that price, our model says the market is pricing in about 2.0% a year of cash-flow growth for five years, faster than the -1.5% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 4, 2027 (estimated)

AGCO Corp's trailing-twelve-month revenue grew 0.9% year on year, with a free-cash-flow margin of 2.9%. Where it stands out: change in share count of -3.8% ranks 2 of 7 agricultural & farm machinery companies we cover. Where it lags: change in growth rate of -0.9pp ranks 6 of 7 agricultural & farm machinery companies we cover.

Our discounted-cash-flow model values the business at ~$61 per share in the base case (~$36–$94 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 60.7% while net income fell 25.6%: a 35pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 4.6 points on a year ago.
  • Shrinking share count. Diluted shares fell 3.8% in a year, so each share owns more of the business.

Things to watch

  • Priced above our value. The share price of $113.42 is 47% above our value per share of $61.
  • Below peers: change in growth rate. Change in growth rate of -0.9pp ranks 6 of 7 agricultural & farm machinery companies we cover (median +1.8pp).
  • Below peers: gross margin. Gross margin of 25.0% ranks 5 of 6 agricultural & farm machinery companies we cover (median 28.9%).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$1.05 against an average estimate of $0.86: beat by 21.5%
Revenue
$2.26bn, down 8.6% on a year earlier
Share reaction
+8.6% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
net sales $9.8bn to $10bn (2026); adjusted operating margins 7% (2026)
Next report
October 29, 2026; average EPS estimate $2.20

AGCO's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.3%
  • 1 week+8.8%
  • 1 month-1.0%
  • This year+9.6%
  • 1 year+11.1%
  • 5 years+8.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$10.1B
Operating margin
5.6%
Net margin
2.8%
EPS (TTM, diluted)
$3.89

Growth

Revenue growth
+0.9%
Change in growth rate
−0.9 pts
Share count change
−3.8%

Cash

Free cash flow (TTM)
$294M
FCF margin
2.9%
Stock pay % of revenue
0.4%

Earnings

Last results
October 29, 2026
Next results (est.)
February 4, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Leadership
  4. Announcement
  5. Dividend
  6. Announcement
  7. Announcement
  8. Leadership
  9. Insider trade
  10. Leadership
  11. Results
  12. Governance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

AGCO Corp valuation models and calculator

What the price is pricing in

The share price implies about 9.6% a year of cash-flow growth for five years.That is faster than the -1.9% a year revenue growth AGCO has delivered.

  • Priced in9.6%
  • Last 12 months0.9%
  • 3 years a year-11.3%
  • 5 years a year-1.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($111.48, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$61
Price used
$111.48close November 3, 2026
Implied change
▼ 46%
Uncertainty
High

How we got here: a discounted-cash-flow model of AGCO Corp's free cash flow after stock-based pay with after-tax interest added back ($405M, FY2026 Q3 TTM), growing 2.2% and 3.1% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$36–~$94 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of AGCO Corp's free cash flow after stock-based pay ( $405M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value AGCO Corp as an operating company, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.82 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$61 ~$36–$94 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$130 ~$120–$150 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$110 ~$80–$150 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$120 ~$100–$150 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$97 ~$61–$130 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare AGCO Corp with Agricultural & Farm Machinery in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −56%
  • Revenue growth 5 points higher ▲ +73%
  • Free-cash-flow margin 1 point lower ▼ −76%
  • Last year's free-cash-flow margin change, if it persists ▼ −78%
  • Discount rate 1 point higher ▼ −32%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $46$76$116$169$238$328
8.5% $26$48$77$115$164$227
10% $14$31$53$82$120$168

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$36.15$46.58$57.99$45.63$63.89$86.11$100.02$125.01$115.14$91.73$103.52$113.42
Market value$3.1bn$3.8bn$4.7bn$3.6bn$4.9bn$6.5bn$7.6bn$9.4bn$8.6bn$6.9bn$7.7bn$8.1bn
+ Net debt (− = net cash)$805m$1.3bn$1.4bn$1.2bn$912m$497m$615m$671m$797m$2.0bn$1.6bn$2.3bn
Enterprise value$4.0bn$5.1bn$6.1bn$4.8bn$5.8bn$7.0bn$8.2bn$10.0bn$9.4bn$8.9bn$9.3bn$10.4bn
Multiples
Price / sales 0.4x0.5x0.6x0.4x0.5x0.7x0.7x0.7x0.6x0.6x0.8x0.8x
Price / earnings 11.8x23.8x24.9x12.7x39.3x15.2x8.4x10.5x7.4x—10.6x29.2x
Price / free cash flow 10.1x22.6x12.4x9.3x11.6x10.4x19.4x20.8x14.7x23.1x10.4x27.7x
EV / EBITDA 6.8x9.9x9.7x6.7x10.4x8.6x6.7x6.8x4.9x68.8x10.9x12.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

58 /100

Moderate moat

How hard AGCO's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 17 / 20

    Cash operating profit has been a median 13.1% of total assets over 10 years.

  • Pricing power 9 / 20

    Gross margin has been a median 23.1%, moving by 1.7 percentage points (standard deviation) across 10 years.

  • Durability 3 / 20

    Operating margin has been a median 5.4%; its worst year was 1.0%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 9 of 10 years, at a median 3.7% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 5.2% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.55 +5% $10.1bn −0%
Next $7.16 +47% $10.6bn +5%

Next year's EPS estimate has moved −3.1% in 90 days, across 12 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −1.8% on 90 days ago. In the last 30 days, 1 analyst raised AGCO Corp's forecast and 1 cut it.

Consensus EPS forecast AGCO Corp, last 90 days
$5.50 $6.00 $6.50 $7.00 $7.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $5.65 Current fiscal year, 60 days ago: $5.62 Current fiscal year, 30 days ago: $5.62 Current fiscal year, 7 days ago: $5.59 Current fiscal year, Now: $5.55 $5.55 Next fiscal year, 90 days ago: $7.40 Next fiscal year, 60 days ago: $7.31 Next fiscal year, 30 days ago: $7.33 Next fiscal year, 7 days ago: $7.26 Next fiscal year, Now: $7.16 $7.16

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $5.65$7.40
60 days ago $5.62$7.31
30 days ago $5.62$7.33
7 days ago $5.59$7.26
Now $5.55$7.16

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.86 $1.05 +21.5%
Jun 2026 $1.48 $1.43 −3.1%
Mar 2026 $0.44 $0.94 +113.2%
Dec 2025 $1.86 $2.17 +16.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026
  • net sales 2026 $9.8bn to $10bn Lowered vs 10.1bn to 10.2bn
    “AGCO's net sales for 2026 are expected to be from $9.8 to $10.0 billion.” source
  • adjusted earnings per share 2026 about $5.50 Non-GAAP Lowered vs 5.5 to 5.75
    “Based on these assumptions, 2026 adjusted earnings per share is targeted at approximately $5.50.” source
  • Adjusted operating margins 2026 about 7% Non-GAAP Lowered vs about 7.5
    “Adjusted operating margins are projected to be about 7.0% reflecting continued emphasis on pricing discipline, cost management and operational alignment.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows AGCO Corp's revenue by +2.2% next year and +3.1% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+3.1%, weight 40%) , management guidance (+1.4%, weight 36%) and the company's own record (+2.0%, weight 24%) . How the weights are set.

Analyst recommendations

16 analysts, Oct 2026
Buy744%
Hold744%
Sell213%

Monthly trend

  1. Oct 202625716
  2. Sep 202625716
  3. Aug 202625716
  4. Jul 202624816

Counts of recommendations published by analysts covering AGCO Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.6%
of tradable shares
Days to cover
3.69
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
97%
of shares
Held by insiders
18.0%
of shares
Employees
22,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +11.1%

$102.09 on October 31, 2025 to $113.42

ThenNowEffect
Revenue (last 12 months) $10.2bn $10.3bn +1.7%
Net margin 1.0% 5.2% +426.4%
P/E multiple 76.5x 15.6x −79.7%
Share count 75m 73m +2.1%

Biggest factor: net margin.

Last 3 years +0.1%

$113.33 on November 3, 2023 to $113.42

ThenNowEffect
Revenue (last 12 months) $14.2bn $10.3bn −27.0%
Net margin 7.8% 5.2% −34.3%
P/E multiple 7.6x 15.6x +103.6%
Share count 75m 73m +2.5%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AGCO+16%+25%−8%−20%+13%+10%
Industry peers (median)+23%+8%−6%−7%+1%+26%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AGCO58%75%33%42%42%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AGCO−29%−37%−21%−31%−29%−30%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 54% from November 25, 2019 to March 18, 2020. Getting back needed a 118% gain, reached on October 9, 2020, 205 days after the low.

Price behaviour

52-week range
$98.45 – $139.71
From 52-week high
−18.8%
vs 50-day average
−0.6%
vs 200-day average
−2.2%
Volatility (1 year)
37%
Beta vs S&P 500
0.79

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±5.6%
After a week
4 up, 7 down
typical move ±8.4%
After a month
3 up, 8 down
typical move ±4.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +8.6% −2.1% — —
July 30, 2026 −12.1% +2.4% −12.5% −2.1%
May 5, 2026 −0.9% +2.2% −2.7% −0.9%
February 5, 2026 +8.9% +0.6% +14.2% +2.1%
October 31, 2025 −0.8% +0.5% −0.5% −1.5%
July 31, 2025 +6.5% −2.0% +4.8% +1.7%
May 1, 2025 +12.2% +2.2% +15.6% +16.4%
February 6, 2025 −3.2% −0.6% −8.9% −0.4%
November 5, 2024 −3.4% +3.7% −7.7% −0.1%
July 30, 2024 −7.5% +1.1% −14.8% −11.2%
May 2, 2024 −0.3% +2.2% +3.7% −3.7%
February 6, 2024 −2.5% +1.1% −6.7% −6.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How AGCO Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

AGCO Corp in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) AGCO Corp
$10B $12B $14B $16B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $14.4B Revenue (TTM), FY24 Q1: $14B Revenue (TTM), FY24 Q2: $13.4B Revenue (TTM), FY24 Q3: $12.6B Revenue (TTM), FY24 Q4: $11.7B Revenue (TTM), FY25 Q1: $10.8B Revenue (TTM), FY25 Q2: $10.2B Revenue (TTM), FY25 Q3: $10B Revenue (TTM), FY25 Q4: $10.1B Revenue (TTM), FY26 Q1: $10.4B Revenue (TTM), FY26 Q2: $10.3B Revenue (TTM), FY26 Q3: $10.1B $10.1B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $14.4B
FY24 Q1 $14B
FY24 Q2 $13.4B
FY24 Q3 $12.6B
FY24 Q4 $11.7B
FY25 Q1 $10.8B
FY25 Q2 $10.2B
FY25 Q3 $10B
FY25 Q4 $10.1B
FY26 Q1 $10.4B
FY26 Q2 $10.3B
FY26 Q3 $10.1B
Revenue growth, TTM YoY AGCO Corp
-30% -20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 13.9% Revenue growth, TTM YoY, FY24 Q1: 5.3% Revenue growth, TTM YoY, FY24 Q2: -5.3% Revenue growth, TTM YoY, FY24 Q3: -13.3% Revenue growth, TTM YoY, FY24 Q4: -19.1% Revenue growth, TTM YoY, FY25 Q1: -23.0% Revenue growth, TTM YoY, FY25 Q2: -24.3% Revenue growth, TTM YoY, FY25 Q3: -20.1% Revenue growth, TTM YoY, FY25 Q4: -13.5% Revenue growth, TTM YoY, FY26 Q1: -3.8% Revenue growth, TTM YoY, FY26 Q2: 1.7% Revenue growth, TTM YoY, FY26 Q3: 0.9% 0.9%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 13.9%
FY24 Q1 5.3%
FY24 Q2 -5.3%
FY24 Q3 -13.3%
FY24 Q4 -19.1%
FY25 Q1 -23.0%
FY25 Q2 -24.3%
FY25 Q3 -20.1%
FY25 Q4 -13.5%
FY26 Q1 -3.8%
FY26 Q2 1.7%
FY26 Q3 0.9%
Operating margin (TTM) AGCO Corp
-5% 0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 11.8% Operating margin (TTM), FY24 Q1: 11.3% Operating margin (TTM), FY24 Q2: 6.3% Operating margin (TTM), FY24 Q3: 4.3% Operating margin (TTM), FY24 Q4: -1.0% Operating margin (TTM), FY25 Q1: -3.2% Operating margin (TTM), FY25 Q2: 0.6% Operating margin (TTM), FY25 Q3: 1.0% Operating margin (TTM), FY25 Q4: 5.9% Operating margin (TTM), FY26 Q1: 6.0% Operating margin (TTM), FY26 Q2: 5.8% Operating margin (TTM), FY26 Q3: 5.6% 5.6%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 11.8%
FY24 Q1 11.3%
FY24 Q2 6.3%
FY24 Q3 4.3%
FY24 Q4 -1.0%
FY25 Q1 -3.2%
FY25 Q2 0.6%
FY25 Q3 1.0%
FY25 Q4 5.9%
FY26 Q1 6.0%
FY26 Q2 5.8%
FY26 Q3 5.6%
FCF margin (TTM) AGCO Corp
0% 2% 4% 6% 8% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 4.1% FCF margin (TTM), FY24 Q1: 5.7% FCF margin (TTM), FY24 Q2: 6.4% FCF margin (TTM), FY24 Q3: 2.8% FCF margin (TTM), FY24 Q4: 2.5% FCF margin (TTM), FY25 Q1: 4.6% FCF margin (TTM), FY25 Q2: 6.8% FCF margin (TTM), FY25 Q3: 7.5% FCF margin (TTM), FY25 Q4: 7.3% FCF margin (TTM), FY26 Q1: 5.3% FCF margin (TTM), FY26 Q2: 3.2% FCF margin (TTM), FY26 Q3: 2.9% 2.9%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 4.1%
FY24 Q1 5.7%
FY24 Q2 6.4%
FY24 Q3 2.8%
FY24 Q4 2.5%
FY25 Q1 4.6%
FY25 Q2 6.8%
FY25 Q3 7.5%
FY25 Q4 7.3%
FY26 Q1 5.3%
FY26 Q2 3.2%
FY26 Q3 2.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar AGCO took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $10.1B
  2. Other income $131M · 1.3%
  3. Cost of revenue $7.5B · 74.5%
  4. Gross profit $2.6B · 25.5%
  5. Research and development $375M · 3.7%
  6. Selling, general and admin $1.3B · 13.0%
  7. Other operating costs $287M · 2.8%
  8. Operating income $596M · 5.9%
  9. Net income $727M · 7.2%

Shares of revenue. Source: AGCO's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 6.5 6.9 8.8 10.0 10.8 9.7 7.5 7.4 8.3 9.4 9.0 9.1 11.1 12.7 14.4 11.7 10.1 10.1
Gross profit 1.1 1.3 1.8 2.1 2.4 2.1 1.6 1.5 1.8 2.0 2.0 2.1 2.6 3.0 3.8 2.9 2.6 2.5
EBITDA 0.3 0.5 0.8 0.9 1.1 0.9 0.6 0.5 0.6 0.7 0.6 0.8 1.2 1.5 1.9 0.1 0.9 0.8
Operating income 0.2 0.3 0.6 0.7 0.9 0.6 0.4 0.3 0.4 0.5 0.3 0.6 1.0 1.3 1.7 −0.1 0.6 0.6
Net income 0.1 0.2 0.6 0.5 0.6 0.4 0.3 0.2 0.2 0.3 0.1 0.4 0.9 0.9 1.2 −0.4 0.7 0.3
Diluted EPS $1.44 $2.29 $5.95 $5.30 $6.01 $4.36 $3.06 $1.96 $2.32 $3.58 $1.63 $5.65 $11.85 $11.87 $15.63 −$5.69 $9.75 $3.89
Growth (year on year)
Revenue −21.2% +5.8% +27.2% +13.6% +8.3% −9.9% −23.2% −0.8% +12.1% +12.6% −3.3% +1.2% +21.7% +13.6% +13.9% −19.1% −13.5% +0.9%
EBITDA −50.4% +36.3% +65.7% +14.6% +27.3% −20.4% −34.7% −11.8% +22.9% +13.9% −21.7% +45.3% +50.5% +20.7% +30.9% −93.3% — +142.2%
Operating income −61.2% +48.2% +88.2% +13.6% +29.9% −28.2% −44.1% −20.5% +40.9% +20.9% −28.8% +72.3% +67.0% +26.4% +34.4% −107.2% — —
Net income −64.8% +62.5% +164.5% −10.5% +14.4% −31.3% −35.1% −39.9% +16.4% +53.2% −56.1% — +110.0% −0.8% +31.7% −136.3% — −25.6%
Diluted EPS −63.5% +59.0% +159.8% −10.9% +13.4% −27.5% −29.8% −35.9% +18.4% +54.3% −54.5% — +109.7% +0.2% +31.7% −136.4% — −22.6%
Margins
Gross margin 16.4% 18.3% 20.2% 21.3% 22.2% 21.3% 20.9% 20.5% 21.3% 21.4% 21.9% 22.5% 23.1% 23.7% 26.2% 24.9% 25.5% 25.0%
EBITDA margin 5.2% 6.7% 8.7% 8.8% 10.3% 9.1% 7.7% 6.9% 7.6% 7.6% 6.2% 8.9% 11.0% 11.7% 13.4% 1.1% 8.5% 8.3%
Operating margin 3.4% 4.7% 7.0% 7.0% 8.3% 6.6% 4.8% 3.9% 4.9% 5.2% 3.9% 6.6% 9.0% 10.0% 11.8% −1.0% 5.9% 5.6%
Net margin 2.1% 3.2% 6.6% 5.2% 5.5% 4.2% 3.6% 2.2% 2.2% 3.1% 1.4% 4.7% 8.1% 7.0% 8.1% −3.6% 7.2% 2.8%
Free-cash-flow margin 2.2% 3.9% 4.8% 3.3% 3.8% 1.4% 4.2% 2.3% 4.5% 4.2% 4.7% 6.8% 3.5% 3.6% 4.1% 2.5% 7.3% 2.9%
Cash flow
Cash from operations 0.3 0.4 0.7 0.7 0.8 0.4 0.5 0.4 0.6 0.6 0.7 0.9 0.7 0.8 1.1 0.7 1.0 0.5
Capital spending 0.2 0.2 0.3 0.3 0.4 0.3 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.4 0.5 0.4 0.2 0.3
Free cash flow 0.1 0.3 0.4 0.3 0.4 0.1 0.3 0.2 0.4 0.4 0.4 0.6 0.4 0.4 0.6 0.3 0.7 0.3
Stock-based pay 0.0 0.0 0.0 0.0 0.0 −0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Free cash flow after stock pay 0.1 0.3 0.4 0.3 0.4 0.1 0.3 0.2 0.3 0.3 0.4 0.6 0.4 0.4 0.5 0.3 0.7 0.3
Balance sheet
Cash 0.7 0.7 0.7 0.8 1.0 0.4 0.4 0.4 0.4 0.3 0.4 1.1 0.9 0.8 0.6 0.6 0.9 0.4
Total debt 0.6 0.7 1.5 1.3 1.3 1.1 1.2 1.7 1.8 1.5 1.3 1.6 1.5 1.5 1.4 2.6 2.4 2.7
Net debt (negative = net cash) −0.0 −0.0 0.7 0.5 0.2 0.7 0.8 1.3 1.4 1.2 0.9 0.5 0.6 0.7 0.8 2.0 1.6 2.3
Diluted shares 94m 96m 98m 99m 99m 94m 87m 82m 80m 80m 77m 76m 76m 75m 75m 75m 75m 72m
Returned to shareholders
Dividends — — 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.5 0.3 0.1 0.1
Buybacks — 0.0 0.0 0.0 0.0 0.5 0.3 0.2 0.0 0.2 0.1 0.1 0.1 0.0 0.1 0.0 0.3 —
Total returned — 0.0 0.0 0.0 0.0 0.5 0.3 0.3 0.0 0.2 0.2 0.1 0.5 0.4 0.5 0.3 0.3 0.1

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · September 30, 2026
What it owns · $11.7bn
Short-term assets $5.2bnLonger-term assets $6.6bn
What it owes, and who funded it · $11.5bn
Short-term liabilities $3.9bnLonger-term liabilities $3.4bnShareholders' equity $4.1bn
  • Short-term assets cover short-term liabilities $5.2bn of assets due within a year against $3.9bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $5.2bn short-term assets against $3.4bn of longer-dated liabilities.
  • More cash than debt $415m of cash against $2.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 66% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 52% to 66% over five years.
  • A year's operating cash flow covers at least 20% of debt $545m of operating cash flow against $2.7bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From AGCO Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$84.3M
Buybacks, last 3 fiscal years
$325M
Diluted share count
−3.8%
year over year
Total shareholder yield
1.1%
dividends 1.1% + buybacks 0.0% of market value
Dividend payout ratio
30%
of net income paid out
Sales & admin spending
12.8%
of revenue

Competitors: side by side with peers

Closest by revenue in agricultural & farm machinery
Last 12 months unless stated AGCO CNH TTC DE ALG LNN Median
Revenue, last 12 months $10.1bn $18.2bn $4.8bn $48.0bn $1.7bn $636m $4.8bn
Revenue growth, last 12 months 0.9% 0.6% 5.2% 8.0% 4.1% −6.0% 4.1%
Revenue growth, 3-year average −11.3% −9.7% 0.1% −7.9% 1.1% −1.9% −5.7%
Revenue growth, latest quarter −8.6% 2.0% 8.4% 4.9% 7.6% 5.2% 4.9%
Gross margin 25.0% 30.6% 33.4% 21.4% 24.2% 28.9% 26.0%
Operating margin 5.6% 6.0% 10.3% 21.2% 8.9% 10.5% 8.9%
Operating margin, 3-year average 3.6% — 10.4% 19.1% 10.1% 12.1% 10.3%
Net margin 2.8% 1.7% 7.6% 10.2% 6.1% 8.8% 6.1%
Cash from operations / revenue 5.4% 9.8% 16.6% 15.1% 9.8% 11.8% 9.8%
Free-cash-flow margin 2.9% 2.5% 15.0% 12.5% 8.1% 5.5% 5.5%
Free-cash-flow margin, 3-year average 4.4% — 11.4% 14.4% 8.5% 9.9% 9.2%
Stock pay / revenue 0.4% 0.1% 0.5% 0.3% 0.5% 0.9% 0.5%
Change in share count −3.8% −0.6% −3.7% −0.5% 0.4% −4.4% −0.6%

Median of all 7 companies we cover in agricultural & farm machinery. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

7 agricultural & farm machinery companies
Measure Company Peer median Rank
Revenue growth Growth 0.9% 4.1% 5 of 7
Change in growth rate Growth -0.9pp +1.8pp 6 of 7
Gross margin Profitability 25.0% 28.9% 5 of 6
Operating margin Profitability 5.6% 8.9% 4 of 5
Net margin Profitability 2.8% 6.1% 5 of 7
Free-cash-flow margin Cash generation 2.9% 8.1% 5 of 6
Stock pay as % of revenue Cash generation 0.4% 0.5% 2 of 6
Long-term debt as % of assets Balance sheet 18.2% 15.0% 4 of 5
Change in share count Balance sheet -3.8% -0.6% 2 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
EME $6.7B 66.8% ▲ 0.4%
North America $1.7B 16.5% ▼ 27.5%
South America $1.1B 11.1% ▼ 7.7%
APA $564M 5.6% ▼ 9.9%
Products and services
Line of business Revenue Share YoY
Tractors $6.7B 66.4% ▼ 5.2%
Replacement Part Sales $1.9B 18.6% ▲ 2.5%
Application Equipment and Other Machinery Product Line $1.5B 15.0% ▼ 22.0%
Grain Storage and Protein Production Systems $1.3M 0.0% ▼ 99.8%
Geography
Region Revenue YoY
EME $6.7B —
Other Europe $1.7B ▲ 7.8%
North America $1.7B —
Germany $1.6B ▼ 5.0%
France $1.3B ▼ 4.5%
United States $1.2B ▼ 44.6%
South America $1.1B —
Brazil $825M ▼ 14.4%
Finl and and Scandinavia $798M ▲ 2.5%
APA $564M —
United Kingdom and Ireland $559M ▲ 3.5%
IT $456M ▲ 18.0%
Canada $327M ▼ 33.1%
Australia and New Zealand $290M ▼ 8.0%
Other South America $280M ▼ 17.4%
Middle East and Algeria $278M ▼ 35.8%
Asia $165M ▼ 36.4%
Mexico Central America and Caribbean $115M ▼ 21.2%
Africa $109M ▲ 0.7%

These categories overlap or exclude eliminations, so shares aren't shown.

From AGCO Corp's 10-K filed February 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$8B
Institutions reporting
515
Shares held vs prior quarter
▲ 4.1%
Positions opened / closed
64 / 47

Top buyers and sellers, Q2 2026: 259 institutions bought and 213 sold ; the biggest buyer was Invesco Ltd (+579K shares) and the biggest seller Victory Capital Management Inc (−493K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $702M 5.9M 8.8% ▲ 1.0%
Price T Rowe Associates Inc $661M 5.5M 8.3% ▲ 6.0%
Dimensional Fund Advisors LP $431M 3.6M 5.4% ▲ 1.9%
Massachusetts Financial Services Co $365M 3.0M 4.6% ▲ 4.7%
Vanguard Portfolio Management LLC $347M 2.9M 4.4% ▲ 4.3%
Vanguard Capital Management LLC $331M 2.8M 4.2% ▲ 5.3%
Invesco Ltd. $329M 2.8M 4.1% ▲ 26.7%
Capital World Investors $310M 2.6M 3.9% ▲ 3.4%
Davis Selected Advisers $246M 2.1M 3.1% ▼ 1.3%
State Street Corp $245M 2.0M 3.1% ▲ 1.9%
LSV Asset Management $224M 1.9M 2.8% ▼ 0.8%
Victory Capital Management Inc $203M 1.7M 2.6% ▼ 22.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not AGCO Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $100,710 1 trade by 1 insider, last 12 months Insider sales History → $110M 10 trades by 5 insiders · 0% under pre-set plans
Net ▼ $110M net selling
Insider Date Trade Shares Price Value
Harris Ivory Marie SVP Chief HR Officer September 15, 2026 Sell 1,600 $125.30 $200,480
Hansotia Eric P Chairman, President and CEO September 4, 2026 Sell 2,604 $129.75 $337,869
Bennett Kelvin Eugene SVP Engineering September 4, 2026 Sell 1,000 $132.89 $132,890
De Lange Bob Director August 14, 2026 Buy 1,000 $100.71 $100,710
Bennett Kelvin Eugene SVP Engineering August 6, 2026 Sell 2,000 $102.27 $204,540
Tractors & Farm Equipment Ltd 10% owner August 5, 2026 Sell 132,255 $115.33 $15.3M
Tractors & Farm Equipment Ltd 10% owner August 5, 2026 Sell 360,163 $115.33 $41.5M
Srinivasan Mallika 10% owner May 5, 2026 Sell 309,089 $123.28 $38.1M
Srinivasan Mallika 10% owner May 5, 2026 Sell 113,501 $123.28 $14M
Bennett Kelvin Eugene SVP Engineering February 17, 2026 Sell 2,300 $137.04 $315,192
Bennett Kelvin Eugene SVP Engineering November 10, 2025 Sell 250 $104.28 $26,070

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 9 trades and filings

No trades in AGCO Corp disclosed in the last 12 months; 9 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded June 24, 2025, filed August 13, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded June 11, 2025, filed August 13, 2025
  • Kevin Hern(R-OK 1):Sale (full), $50,001 - $100,000, traded December 31, 2024, filed January 15, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 4, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • May 5, 2026
  • February 5, 2026
  • October 31, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on AGCO Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

AGCO Corp in brief

What does AGCO Corp do?
AGCO Corp is a US-listed company in the agricultural & farm machinery industry. Its financial year ends in December.
What is AGCO Corp's stock ticker?
AGCO Corp trades under the ticker AGCO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is AGCO Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, AGCO Corp reported revenue of $10.1B, 0.9% higher than a year earlier, according to its SEC filings.
What is AGCO Corp's free cash flow?
AGCO Corp's free-cash-flow margin is 2.9% of revenue over the trailing twelve months, ranking 5 of the 6 agricultural & farm machinery companies we cover.
What is AGCO Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of AGCO Corp's free cash flow after stock-based pay gives ~$61 per share in the base case, and ~$36–$94 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are AGCO Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Price T Rowe Associates Inc and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is AGCO Corp's market cap?
On November 2, 2026, AGCO Corp's market capitalisation was about $8.1B, with a price-to-earnings ratio of 29.2 and net debt of $2.3B. Market figures come from third-party market data and may be delayed.
Does AGCO Corp pay a dividend?
Yes: AGCO Corp paid $84.3M in dividends over the trailing twelve months, a dividend yield of 1.08% and a payout ratio of 30.2%.
How much debt does AGCO Corp have?
AGCO Corp's debt-to-equity ratio is 65.8%, from its latest balance sheet (51.7% five years earlier). The financial health section below sets out its other solvency checks.
Who are AGCO Corp's competitors?
In our Agricultural & Farm Machinery peer group, the companies closest to AGCO Corp are CNH Industrial N.V., Toro Co, Deere & Company, Alamo Group Inc and Lindsay Corp. The side-by-side comparison below sets their revenue, margins and growth against AGCO Corp's.
Are insiders buying or selling AGCO Corp stock?
Over the last 12 months, AGCO Corp's directors and officers reported 1 open-market purchases and 10 sales on Form 4. The insider trading page charts every trade.
When is AGCO Corp's next earnings date?
Around February 4, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — AGCO Corp announces its own schedule.