AGCO Corporation
- Open
- 119.31
- Day high
- 120.86
- Day low
- 117.83
- Prev close
- 119.28
- Volume
- 519K
- Mkt cap
- $8.7B
- P/E (TTM)
- 11.5
- EPS (TTM)
- $10.38
- P/B
- 2.0
- P/S
- 0.8
- Yield
- 0.98%
- Per share
- $1.17
- ▼Insiders net selling -$52.1M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions mixed (13F)
AGCO Corporation (AGCO) is a Industrials company listed on NYSE. The stock is up 11% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 1 published research article covering AGCO.
AGCO Corporation (AGCO) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AGCO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.44 | $0.94 | +113.6% | $2.3B | +3.8% |
| Feb 5, 2026 | $1.85 | $2.17 | +17.3% | $2.9B | +34.8% |
| Oct 31, 2025 | $1.26 | $1.35 | +7.1% | $2.5B | -7.3% |
| Jul 31, 2025 | $1.06 | $1.35 | +27.4% | $2.6B | +6.3% |
| May 1, 2025 | $0.03 | $0.41 | +1266.7% | $2.1B | -15.5% |
| Feb 6, 2025 | $2.01 | $1.97 | -2.0% | $2.9B | -8.8% |
| May 2, 2024 | $2.25 | $2.32 | +3.1% | $2.9B | -2.4% |
| Oct 31, 2023 | $3.30 | $3.97 | +20.3% | $3.5B | -0.2% |
| Jul 27, 2023 | $3.73 | $4.29 | +15.0% | $3.8B | +12.3% |
| May 2, 2023 | $2.70 | $3.51 | +30.0% | $3.3B | +5.4% |
| Feb 7, 2023 | $3.90 | $4.47 | +14.6% | $3.9B | +4.0% |
| Nov 1, 2022 | $3.16 | $3.18 | +0.6% | $3.1B | -5.1% |
AGCO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 16, 2026 | De Lange Bobdirector | Grant | 4 | $116.71 |
| Jun 16, 2026 | Barbour Sondra Ldirector | Grant | 33 | $116.71 |
| May 7, 2026 | Tractors & Farm Equipment Ltd10 percent owner | Sell | 309,089 | $123.28 |
| May 7, 2026 | Tractors & Farm Equipment Ltd10 percent owner | Sell | 113,501 | $123.28 |
| Apr 27, 2026 | Porksen Nielsdirector | Grant | 1,338 | — |
| Apr 27, 2026 | Barbour Sondra Ldirector | Grant | 1,673 | — |
| Apr 27, 2026 | Collins James C. Jr.director | Grant | 1,673 | — |
| Apr 27, 2026 | arnold michael cdirector | Grant | 1,673 | — |
| Apr 27, 2026 | CLARK SUZANNE PATRICIAdirector | Grant | 1,673 | — |
| Apr 27, 2026 | Sagehorn David M.director | Grant | 1,673 | — |
| Apr 27, 2026 | De Lange Bobdirector | Grant | 1,673 | — |
| Apr 27, 2026 | Golodryga Zhannadirector | Grant | 1,673 | — |
| Apr 22, 2026 | Hansotia Eric Pdirector, officer: Chairman, President and CEO | Tax | 1,960 | $115.29 |
| Mar 17, 2026 | De Lange Bobdirector | Grant | 0 | $119.70 |
| Mar 17, 2026 | Barbour Sondra Ldirector | Grant | 27 | $119.70 |
Source: AGCO SEC Form 4 filings, latest Jun 16, 2026. For informational purposes only — not investment advice.
See the full AGCO insider & 13F page →AGCO Corporation company profile
Overview
AGCO Corporation (NYSE:AGCO) is a global agricultural equipment manufacturer founded in 1990 and headquartered in Duluth, Georgia. The company went public in 1992 and has grown through strategic acquisitions and organic expansion to become one of the world's leading producers of agricultural machinery. AGCO operates through a portfolio of well-known brands including Fendt, Massey Ferguson, Challenger, Valtra, and GSI, serving farmers worldwide with a comprehensive range of tractors, combines, hay tools, sprayers, and precision agriculture technologies. The company is currently navigating a challenging agricultural equipment cycle while investing heavily in precision agriculture and autonomous farming technologies.
Business
AGCO Corporation operates in the agricultural machinery industry, manufacturing and distributing farming equipment and related services globally. The agricultural machinery sector serves as the backbone of modern farming, providing mechanized solutions that enable farmers to efficiently plant, cultivate, harvest, and process crops on an industrial scale. The company's core business revolves around several key product categories. Tractors represent a major segment, ranging from compact models for small farms and landscaping to high-horsepower units exceeding 400 horsepower for large-scale row crop operations. These machines provide the power and versatility needed for soil preparation, planting, cultivation, and harvesting operations. Combines are specialized harvesting machines that cut, thresh, and clean grain crops like corn, wheat, soybeans, and rice in a single pass through the field. Application equipment includes self-propelled sprayers and spreaders used to apply fertilizers, pesticides, and other crop protection chemicals with precision timing and placement. AGCO also manufactures hay and forage equipment such as balers, mowers, and forage harvesters that cut, condition, and package grass and other feeds for livestock operations. The company's seeding and tillage implements prepare soil and plant seeds, while grain handling and storage systems help farmers dry, store, and manage harvested crops. A growing segment is precision agriculture technology, which includes GPS guidance systems, variable rate application equipment, field mapping software, and increasingly autonomous farming solutions. These technologies enable farmers to optimize input usage, reduce waste, and increase yields through data-driven farming practices. The company's replacement parts and service business generates recurring revenue, with parts sales representing approximately 15-20% of total revenue. This aftermarket business provides higher margins and more stable cash flows compared to equipment sales, as farmers require ongoing maintenance and replacement components regardless of new equipment purchase cycles.
Revenue model
AGCO generates revenue primarily through product sales of agricultural equipment, with customers including individual farmers, agricultural cooperatives, and commercial farming operations. The company sells through a global network of independent dealers and distributors who provide local sales, service, and parts support to end customers. The business model operates on several revenue streams. New equipment sales constitute the largest portion, with revenue recognition occurring upon delivery to dealers or end customers. Replacement parts sales provide a steady, higher-margin revenue stream that typically grows 4-6% annually regardless of equipment cycles. Precision agriculture technology generates revenue through both hardware sales and increasingly through software subscriptions and data services. AGCO's profitability is significantly influenced by agricultural commodity cycles, which drive farmer income and equipment purchasing decisions. When crop prices are high and farm profitability is strong, farmers invest in new equipment, driving higher sales volumes and allowing for better pricing power. Conversely, during agricultural downturns, farmers defer equipment purchases, leading to reduced sales and margin pressure. The company's margins are affected by several key factors. Production scale and capacity utilization significantly impact unit costs, with the company targeting mid-cycle production levels to optimize fixed cost absorption. Product mix influences profitability, as higher-horsepower tractors, combines, and precision agriculture technologies typically carry higher margins than compact tractors or basic implements. Geographic mix also matters, with developed markets like North America and Europe generally providing better margins than emerging markets. Commodity input costs for steel, engines, and electronic components can pressure margins, though AGCO typically implements annual price increases to offset inflation. Currency fluctuations impact results given the company's global operations, with a strong dollar generally pressuring international sales when translated back to USD. Dealer inventory levels affect production scheduling and working capital, with excess dealer inventory requiring production cuts that reduce capacity utilization and margins.
Competitive moat
AGCO operates in a moderately competitive agricultural equipment industry with several established players, suggesting a relatively narrow economic moat. The company's competitive advantages center around brand strength and dealer relationships, particularly with premium brands like Fendt, which commands price premiums in European and increasingly global markets due to its reputation for quality and advanced technology. The company's global dealer network provides some defensive characteristics, as these relationships take years to build and dealers represent significant switching costs for farmers who rely on local service and parts support. AGCO's dealers often have multi-generational relationships with farming families, creating customer loyalty that extends beyond pure product specifications. Scale advantages exist in manufacturing, R&D, and parts distribution, though these are not insurmountable given the presence of larger competitors like John Deere and CNH Industrial. AGCO's focused approach on agricultural equipment (versus competitors with broader industrial portfolios) allows for specialized expertise and targeted innovation. The company's growing precision agriculture capabilities, enhanced by the Trimble partnership and autonomous technology development, could provide future competitive advantages as farming becomes increasingly technology-driven. However, this remains an evolving competitive landscape with technology companies and startups also entering the space. Potential disruption could come from technology companies developing autonomous farming solutions, equipment-as-a-service models that reduce farmer capital requirements, or consolidation among competitors creating larger, better-capitalized rivals. The cyclical nature of agricultural equipment demand also limits pricing power during downturns, constraining the company's ability to maintain premium margins consistently.
Risks & safety
AGCO's margin of safety appears moderate to low given current market conditions and valuation metrics. • Liquidity and solvency: Cash position of $563 million with current ratio of 1.53 provides adequate short-term liquidity. Debt-to-equity ratio of 0.81 is manageable but elevated. Free cash flow turned negative at -$260 million in Q1 2025 due to cyclical downturn. • Valuation concerns: Trading at 47.7x EV/EBITDA based on Q1 2025 trailing metrics, reflecting cyclically depressed earnings. Price-to-book ratio of 1.81 suggests limited asset value protection. • Cyclical risks: Currently in agricultural equipment downturn with 2025 expected to be cycle trough. Industry demand projected at only 85% of mid-cycle levels. Significant production cuts and dealer inventory reduction ongoing. • Operational challenges: Negative net income in recent quarters, with company forecasting $4.00-4.50 EPS for 2025 versus much higher historical levels. Restructuring costs and goodwill impairments indicate asset value pressures. • Positive factors: Strong parts business provides revenue stability. Precision agriculture investments positioning for future growth. Management targeting return to 7-7.5% operating margins in 2025.
Recent development
AGCO has undergone significant strategic transformation over the past few years, focusing on three key growth initiatives while navigating a challenging agricultural equipment cycle. The company has prioritized Fendt brand globalization, expanding this premium European tractor brand into North and South American markets with a target of $1.7 billion in combined regional revenues by 2029. This strategy leverages Fendt's reputation for quality and advanced technology to capture market share in higher-margin segments. The precision agriculture business has seen major developments, including the formation and subsequent closure of the PTx Trimble joint venture, which was replaced by the launch of the TTX brand for precision agriculture solutions. AGCO has tripled its dealer coverage for precision agriculture products and achieved a 90% technology take rate on certain products. The company targets $2 billion in global precision agriculture sales by 2029, up from current levels around $700 million. Operational restructuring has been extensive, with the company implementing workforce reductions of approximately 6% and targeting $100-125 million in annual cost savings. Production cuts have been dramatic, with 33% reduction in production hours during Q1 2025 and plans for continued cuts to address dealer inventory levels. The company divested its Grain & Protein business to focus on core agricultural equipment. Autonomous technology development has accelerated, with the launch of the OutRun autonomy kit and Symphony Vision spray system. These initiatives position AGCO for the future of farming while addressing current labor shortages in agriculture. The company has also launched the FarmerCore global distribution initiative to improve parts and service delivery worldwide.
AGCO company profile · for informational purposes only — not investment advice.
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