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AGCO Corporation (AGCO) 10-Year Financial Performance & Capital Metrics

AGCO • • Industrial / General
IndustrialsAgricultural MachineryAgricultural Machinery & EquipmentMajor Agricultural Equipment Manufacturers
AboutAGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses. The company also provides grain storage bins and related drying and handling equipment systems; seed-processing systems; swine and poultry feed storage and delivery; ventilation and watering systems; and egg production systems and broiler production equipment. In addition, it offers round and rectangular balers, loader wagons, self-propelled windrowers, forage harvesters, disc mowers, spreaders, rakes, tedders, and mower conditioners for harvesting and packaging vegetative feeds used in the beef cattle, dairy, horse, and renewable fuel industries. Further, the company provides implements, including disc harrows leveling seed beds and mixing chemicals with the soils; heavy tillage to break up soil and mix crop residue into topsoil; field cultivators that prepare smooth seed bed and destroy weeds; drills for small grain seeding; planters and other planting equipment; and loaders. Additionally, it offers combines for harvesting grain crops, such as corn, wheat, soybeans, and rice; and application equipment, such as self-propelled, three- and four-wheeled vehicles, and related equipment for liquid and dry fertilizers and crop protection chemicals, and for after crops emerge from the ground, as well as produces diesel engines, gears, and generating sets. The company markets its products under the Challenger, Fendt, GSI, Massey Ferguson, and Valtra brands through a network of independent dealers and distributors. AGCO Corporation was founded in 1990 and is headquartered in Duluth, Georgia.Show more
  • Revenue $11.66B -19.1%
  • EBITDA $1.31B -35.3%
  • Net Income -$425M -136.3%
  • EPS (Diluted) -5.69 -136.4%
  • Gross Margin 24.39% -5.9%
  • EBITDA Margin 11.23% -20.1%
  • Operating Margin 8.38% -30.4%
  • Net Margin -3.64% -144.8%
  • ROE -9.77% -135.6%
  • ROIC 12.43% -50.9%
  • Debt/Equity 0.69 +109.5%
  • Interest Coverage 6.11 -75.8%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Healthy dividend yield of 3.2%
  • ✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.83%
5Y5.22%
3Y1.54%
TTM-20.09%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM120.89%

EPS CAGR

10Y-
5Y-
3Y-
TTM121.68%

ROCE

10Y Avg13.78%
5Y Avg18.77%
3Y Avg20.84%
Latest13.53%

Peer Comparison

Major Agricultural Equipment Manufacturers
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
DEDeere & Company139.61B515.0427.84-9.57%11.18%19.33%2.31%2.46
CNHCNH Industrial N.V.13.49B10.8210.93-19.65%3.35%7.62%5.8%3.50
AGCOAGCO Corporation8.45B113.27-19.91-19.08%3.73%7.83%3.51%0.69

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+7.47B7.41B8.31B9.35B9.04B9.15B11.14B12.65B14.41B11.66B
Revenue Growth %-0.23%-0.01%0.12%0.13%-0.03%0.01%0.22%0.14%0.14%-0.19%
Cost of Goods Sold+5.95B5.95B6.6B7.42B7.12B7.16B8.63B9.7B10.67B8.82B
COGS % of Revenue0.8%0.8%0.79%0.79%0.79%0.78%0.77%0.77%0.74%0.76%
Gross Profit+1.52B1.46B1.71B1.93B1.92B1.99B2.51B2.96B3.74B2.84B
Gross Margin %0.2%0.2%0.21%0.21%0.21%0.22%0.23%0.23%0.26%0.24%
Gross Profit Growth %-0.25%-0.04%0.17%0.13%-0.01%0.04%0.26%0.18%0.26%-0.24%
Operating Expenses+1.13B1.16B1.28B1.42B1.39B1.36B1.49B1.63B2B1.87B
OpEx % of Revenue0.15%0.16%0.15%0.15%0.15%0.15%0.13%0.13%0.14%0.16%
Selling, General & Admin852.3M867.9M956.9M1.06B1.05B1.02B1.09B1.19B1.45B1.37B
SG&A % of Revenue0.11%0.12%0.12%0.11%0.12%0.11%0.1%0.09%0.1%0.12%
Research & Development282.2M296.1M323.1M355.2M343.4M342.6M405.8M444.2M548.8M493M
R&D % of Revenue0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%
Other Operating Expenses0000000000
Operating Income+386M299.3M427.8M517.1M533.6M633.1M1.01B1.32B1.73B977.2M
Operating Margin %0.05%0.04%0.05%0.06%0.06%0.07%0.09%0.1%0.12%0.08%
Operating Income Growth %-0.44%-0.22%0.43%0.21%0.03%0.19%0.6%0.3%0.31%-0.44%
EBITDA+646.1M573.9M707.6M807M805.6M905.1M1.3B1.59B2.02B1.31B
EBITDA Margin %0.09%0.08%0.09%0.09%0.09%0.1%0.12%0.13%0.14%0.11%
EBITDA Growth %-0.34%-0.11%0.23%0.14%-0%0.12%0.43%0.23%0.27%-0.35%
D&A (Non-Cash Add-back)260.1M274.6M279.8M289.9M272M272M281.8M269.6M289.9M332.2M
EBIT343M268.3M335.9M415.9M289.9M586.9M969.7M1.15B1.4B-273.6M
Net Interest Income+-44.9M-50.1M-42.7M-47.5M-19.9M-15M-6.7M-13M-4.6M-93.7M
Interest Income18.7M13.3M9.4M8.1M8.9M9.9M18.7M33M64.2M66.3M
Interest Expense63.6M63.4M52.1M55.6M28.8M24.9M25.4M46M68.8M160M
Other Income/Expense-49.5M-46.9M-104.9M-122.5M-230M-25.6M-3.8M-150.3M-332.6M-1.36B
Pretax Income+336.5M252.4M322.9M394.6M303.6M607.5M1.01B1.17B1.4B-387.2M
Pretax Margin %0.05%0.03%0.04%0.04%0.03%0.07%0.09%0.09%0.1%-0.03%
Income Tax+72.5M92.2M133.6M110.9M180.8M187.7M108.4M296.6M230.4M98.4M
Effective Tax Rate %0.79%0.63%0.58%0.72%0.41%0.7%0.89%0.76%0.84%1.1%
Net Income+266.4M160.1M186.4M285.5M125.2M427.1M897M889.6M1.17B-424.8M
Net Margin %0.04%0.02%0.02%0.03%0.01%0.05%0.08%0.07%0.08%-0.04%
Net Income Growth %-0.35%-0.4%0.16%0.53%-0.56%2.41%1.1%-0.01%0.32%-1.36%
Net Income (Continuing)264M160.2M189.3M283.7M122.8M419.8M901.5M874.7M1.17B-485.6M
Discontinued Operations0000000000
Minority Interest45M61.1M65.7M60.6M53.2M38M27.9M200K100K300.1M
EPS (Diluted)+3.061.962.323.581.045.6511.8511.8815.64-5.69
EPS Growth %-0.3%-0.36%0.18%0.54%-0.71%4.43%1.1%0%0.32%-1.36%
EPS (Basic)3.061.972.343.621.055.6911.9311.9215.66-5.69
Diluted Shares Outstanding87.1M81.7M80.2M79.7M77M75.6M75.7M74.9M74.9M74.7M
Basic Shares Outstanding87M81.4M79.5M78.8M76.2M75M75.2M74.6M74.8M74.6M
Dividend Payout Ratio0.16%0.27%0.24%0.16%0.38%0.11%0.4%0.45%0.39%-

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+2.9B3.17B3.63B3.54B3.73B4.37B5.01B5.74B6.34B5.14B
Cash & Short-Term Investments426.7M429.7M367.7M326.1M429.6M1.11B882.2M787.5M595M612M
Cash Only426.7M429.7M367.7M326.1M429.6M1.11B882.2M787.5M595M612M
Short-Term Investments0000000000
Accounts Receivable836.8M890.4M1.02B880.3M800.5M856M991.5M1.22B1.61B1.27B
Days Sales Outstanding40.943.8644.7934.3632.3234.1532.4935.2440.6539.67
Inventory1.42B1.51B1.87B1.91B2.08B1.97B2.59B3.19B3.44B2.73B
Days Inventory Outstanding87.3692.97103.693.92106.59100.68109.7120.07117.65113.07
Other Current Assets211.4M330.8M367.7M422.3M420.3M426.3M546.7M540.8M699.8M527.3M
Total Non-Current Assets+3.6B4B4.34B4.09B4.03B4.14B4.17B4.36B5.08B6.05B
Property, Plant & Equipment1.35B1.36B1.49B1.37B1.6B1.67B1.62B1.76B2.1B1.99B
Fixed Asset Turnover5.54x5.44x5.59x6.81x5.64x5.47x6.88x7.21x6.87x5.87x
Goodwill1.11B1.38B1.54B1.5B1.3B1.31B1.28B1.31B1.33B1.82B
Intangible Assets507.7M607.3M649M573.1M501.7M455.6M392.2M364.4M308.8M728.9M
Long-Term Investments392.9M414.9M409M400M380.2M442.7M413.5M436.9M512.7M519.6M
Other Non-Current Assets136.5M143.1M147.1M142.4M153M179.8M293.3M268.7M346.8M435.2M
Total Assets+6.5B7.17B7.97B7.63B7.76B8.5B9.18B10.1B11.42B11.19B
Asset Turnover1.15x1.03x1.04x1.23x1.17x1.08x1.21x1.25x1.26x1.04x
Asset Growth %-0.12%0.1%0.11%-0.04%0.02%0.1%0.08%0.1%0.13%-0.02%
Total Current Liabilities+2.19B2.14B2.65B2.77B2.88B3.36B3.45B4.09B4.34B3.83B
Accounts Payable625.6M722.6M917.5M865.9M914.8M855.1M1.08B1.39B1.21B813M
Days Payables Outstanding38.444.3550.7542.6146.9143.645.6152.1541.2833.66
Short-Term Debt306.2M85.4M95.4M210.6M153.4M359.7M92.9M196M15M415.2M
Deferred Revenue (Current)0000000000
Other Current Liabilities998.9M1.04B1.28B1.3B1.37B1.57B1.64B1.8B2.31B1.93B
Current Ratio1.33x1.48x1.37x1.28x1.29x1.30x1.45x1.40x1.46x1.34x
Quick Ratio0.67x0.77x0.66x0.59x0.57x0.71x0.70x0.62x0.67x0.63x
Cash Conversion Cycle89.8792.4897.6485.679291.2296.58103.16117.02119.08
Total Non-Current Liabilities+1.43B2.19B2.23B1.87B1.97B2.12B2.28B2.13B2.42B3.32B
Long-Term Debt925.2M1.61B1.62B1.28B1.19B1.26B1.41B1.26B1.38B2.23B
Capital Lease Obligations0000148.6M125.9M115.5M125.4M134.4M127.5M
Deferred Tax Liabilities86.4M112.4M130.5M116.3M107M112.4M116.9M112M122.6M125M
Other Non-Current Liabilities417.4M463.9M477.2M474.6M520.8M628.4M640.1M630.9M786.6M835.9M
Total Liabilities3.61B4.33B4.88B4.63B4.85B5.49B5.74B6.22B6.76B7.15B
Total Debt+1.23B1.7B1.71B1.49B1.49B1.74B1.62B1.59B1.53B2.78B
Net Debt804.7M1.27B1.35B1.16B1.06B630.6M737.4M798.7M931.6M2.16B
Debt / Equity0.43x0.60x0.55x0.50x0.51x0.58x0.47x0.41x0.33x0.69x
Debt / EBITDA1.91x2.95x2.42x1.84x1.85x1.92x1.25x1.00x0.75x2.12x
Net Debt / EBITDA1.25x2.21x1.90x1.44x1.32x0.70x0.57x0.50x0.46x1.65x
Interest Coverage6.07x4.72x8.21x9.30x18.53x25.43x39.91x28.73x25.21x6.11x
Total Equity+2.88B2.84B3.1B2.99B2.91B3.02B3.44B3.88B4.66B4.04B
Equity Growth %-0.18%-0.02%0.09%-0.03%-0.03%0.04%0.14%0.13%0.2%-0.13%
Book Value per Share33.1034.7338.5937.5637.7539.9245.4951.8462.1754.12
Total Shareholders' Equity2.84B2.78B3.03B2.93B2.85B2.98B3.42B3.88B4.66B3.74B
Common Stock800K800K800K800K800K800K700K700K700K700K
Retained Earnings4B4.11B4.25B4.48B4.44B4.76B5.18B5.65B6.36B5.64B
Treasury Stock0000000000
Accumulated OCI-1.46B-1.44B-1.36B-1.56B-1.6B-1.81B-1.77B-1.8B-1.71B-1.9B
Minority Interest45M61.1M65.7M60.6M53.2M38M27.9M200K100K300.1M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+524.2M369.5M577.6M595.9M695.9M896.5M682.9M838.2M1.1B689.9M
Operating CF Margin %0.07%0.05%0.07%0.06%0.08%0.1%0.06%0.07%0.08%0.06%
Operating CF Growth %0.2%-0.3%0.56%0.03%0.17%0.29%-0.24%0.23%0.32%-0.37%
Net Income264M160.2M189.3M283.7M122.8M419.8M901.5M874.7M1.17B-485.6M
Depreciation & Amortization260.1M274.6M279.8M289.9M272M272M281.8M269.6M288.1M332.2M
Stock-Based Compensation12.2M18.1M38.2M46.3M41.3M37.6M27.4M34M46.4M18.4M
Deferred Taxes-26.8M2.1M-14.1M-14.7M15.1M3.4M-117.9M-58M-264.4M-102.7M
Other Non-Cash Items-22.2M8.2M44.2M23.9M183.5M-31.1M41.3M11.4M-25.7M898.1M
Working Capital Changes36.9M-93.7M40.2M-33.2M61.2M194.8M-451.2M-293.5M-112.7M29.5M
Change in Receivables-829.9M-1.14B-864.4M-565.3M63.8M-90.5M-207.7M-306.1M-443.8M59.1M
Change in Inventory117.6M-33.1M-196M-214.3M-216.3M119.7M-762.6M-668.3M-164.4M308.8M
Change in Payables36.3M62.8M123.5M-24.3M35.7M-59.1M292.2M322.1M-191.6M-224.9M
Cash from Investing+-240.8M-598.3M-493.7M-205.5M-271.6M-241.7M-311.1M-496.8M-545.7M-1.65B
Capital Expenditures-211.4M-201M-203.9M-203.3M-273.4M-269.9M-269.8M-388.3M-518.1M-393.3M
CapEx % of Revenue0.03%0.03%0.02%0.02%0.03%0.03%0.02%0.03%0.04%0.03%
Acquisitions----------
Investments----------
Other Investing-200K2.8M4.1M3.6M4.9M1.9M-9.1M-14.3M3.8M13.1M
Cash from Financing+-153.4M236.4M-176.7M-413.3M-313.4M22.7M-539.5M-407M-671.7M1.05B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-42M-42.5M-44.5M-47.1M-48M-48M-358.5M-404.3M-457.4M-273.1M
Share Repurchases----------
Other Financing-6.3M-4.1M500K-5.8M-27M-24.3M-42.2M-15.1M-32.5M-21.7M
Net Change in Cash----------
Free Cash Flow+312.8M168.5M373.7M392.6M422.5M626.6M413.1M449.9M585M296.6M
FCF Margin %0.04%0.02%0.04%0.04%0.05%0.07%0.04%0.04%0.04%0.03%
FCF Growth %1.28%-0.46%1.22%0.05%0.08%0.48%-0.34%0.09%0.3%-0.49%
FCF per Share3.592.064.664.935.498.295.466.017.813.97
FCF Conversion (FCF/Net Income)1.97x2.31x3.10x2.09x5.56x2.10x0.76x0.94x0.94x-1.62x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)8.35%5.6%6.28%9.38%4.24%14.42%27.76%24.28%27.44%-9.77%
Return on Invested Capital (ROIC)7.32%5.76%7.51%9.03%9.85%12.46%19.42%22.37%25.33%12.43%
Gross Margin20.36%19.75%20.56%20.68%21.27%21.77%22.52%23.36%25.93%24.39%
Net Margin3.57%2.16%2.24%3.05%1.38%4.67%8.05%7.03%8.13%-3.64%
Debt / Equity0.43x0.60x0.55x0.50x0.51x0.58x0.47x0.41x0.33x0.69x
Interest Coverage6.07x4.72x8.21x9.30x18.53x25.43x39.91x28.73x25.21x6.11x
FCF Conversion1.97x2.31x3.10x2.09x5.56x2.10x0.76x0.94x0.94x-1.62x
Revenue Growth-23.21%-0.76%12.09%12.59%-3.32%1.2%21.73%13.58%13.92%-19.08%

Revenue by Segment

2015201620172018201920202021202220232024
Tractors----5.18B5.27B6.39B7.42B8.71B7.06B
Tractors Growth-----1.73%21.14%16.24%17.33%-18.96%
Replacement Part Sales----1.35B1.45B1.69B1.69B1.82B1.83B
Replacement Part Sales Growth-----7.26%16.75%-0.04%7.63%0.65%
Grain Storage and Protein Production Systems----1.03B902M1.08B1.1B1.06B832.5M
Grain Storage and Protein Production Systems Growth------12.83%19.30%2.40%-3.57%-21.65%
Combines, Application,other--------2.82B-
Combines, Application,other Growth----------
Other Machinery Product Line----1.48B1.53B1.99B2.44B--
Other Machinery Product Line Growth-----3.64%29.91%22.69%--
Operatings7.47B7.41B8.31B9.35B------
Operatings Growth--0.76%12.09%12.59%------
EME---5.39B------
EME Growth----------
APA---827.8M------
APA Growth----------

Revenue by Geography

2015201620172018201920202021202220232024
United States------2.12B2.55B2.96B2.23B
United States Growth-------20.35%16.28%-24.74%
Germany------1.33B1.39B1.75B1.73B
Germany Growth-------4.72%25.42%-0.93%
Other Europe1.08B1.13B1.4B1.63B1.63B1.61B2.1B1.69B1.87B1.56B
Other Europe Growth-4.66%23.77%16.60%0.07%-0.98%30.47%-19.63%10.64%-16.80%
France------1.13B1.22B1.49B1.38B
France Growth-------8.06%22.47%-7.41%
Brazil-------1.75B1.86B963.7M
Brazil Growth--------6.38%-48.20%
Finland and Scandinavia------836.3M838.8M837.3M778.8M
Finland and Scandinavia Growth-------0.30%-0.18%-6.99%
United Kingdom and Ireland------635.3M664.1M703.1M540.4M
United Kingdom and Ireland Growth-------4.53%5.87%-23.14%
Canada------436.7M490.2M637.9M488.6M
Canada Growth-------12.25%30.13%-23.40%
Middle East and Algeria--171.3M100M73.2M136.7M184.4M216.2M427.7M433.2M
Middle East and Algeria Growth----41.62%-26.80%86.75%34.89%17.25%97.83%1.29%
Italy-------421.7M457.1M386.6M
Italy Growth--------8.39%-15.42%
Other South America-------358M358.1M338.6M
Other South America Growth--------0.03%-5.45%
Australia and New Zealand201.1M212.6M247.4M277.8M257.7M302.6M360.9M366.2M378M315.3M
Australia and New Zealand Growth-5.72%16.37%12.29%-7.24%17.42%19.27%1.47%3.22%-16.59%
Asia------436.5M384.2M362.7M258.9M
Asia Growth--------11.98%-5.60%-28.62%
Mexico, Central America and Caribbean123.9M135.6M151.7M143.4M114.9M94.3M119.2M152.9M169.1M146.4M
Mexico, Central America and Caribbean Growth-9.44%11.87%-5.47%-19.87%-17.93%26.41%28.27%10.60%-13.42%
Africa--138.1M135.5M116.2M58.3M152.3M157M144.3M108.6M
Africa Growth----1.88%-14.24%-49.83%161.23%3.09%-8.09%-24.74%
South America------1.29B---
South America Growth----------
South America932.3M898.2M1.05B959M802.2M873.8M----
South America Growth--3.66%16.46%-8.32%-16.35%8.93%----
FINLAND AND SCANDINAVIA637M677.7M721.3M826.5M772.8M698.5M----
FINLAND AND SCANDINAVIA Growth-6.39%6.43%14.58%-6.50%-9.61%----
UNITED KINGDOM AND IRELAND414.5M440.7M512.6M614.4M561.9M557.8M----
UNITED KINGDOM AND IRELAND Growth-6.32%16.31%19.86%-8.54%-0.73%----
APA201M266.8M366.4M1.24B344.7M373.1M----
APA Growth-32.74%37.33%239.06%-72.25%8.24%----
North America1.62B1.4B1.45B2.18B2.19B-----
North America Growth--13.51%2.93%50.80%0.54%-----
EME346.4M321.6M-5.39B------
EME Growth--7.16%--------
GERMANY913.2M891.2M997.4M-------
GERMANY Growth--2.41%11.92%-------
FRANCE762.6M746.9M815.7M-------
FRANCE Growth--2.06%9.21%-------
CANADA233.6M286.7M296.9M-------
CANADA Growth-22.73%3.56%-------

Frequently Asked Questions

Growth & Financials

AGCO Corporation (AGCO) reported $10.05B in revenue for fiscal year 2024. This represents a 15% increase from $8.77B in 2011.

AGCO Corporation (AGCO) saw revenue decline by 19.1% over the past year.

Yes, AGCO Corporation (AGCO) is profitable, generating $375.3M in net income for fiscal year 2024 (-3.6% net margin).

Dividend & Returns

Yes, AGCO Corporation (AGCO) pays a dividend with a yield of 3.23%. This makes it attractive for income-focused investors.

AGCO Corporation (AGCO) has a return on equity (ROE) of -9.8%. Negative ROE indicates the company is unprofitable.

AGCO Corporation (AGCO) generated $749.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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