AGCO vs CAT: AGCO and Caterpillar compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Caterpillar is the larger company, worth $363.0B, about 49.7 times AGCO.
- Caterpillar grew revenue faster over the last year (+24.0% vs -1.0%).
- Caterpillar keeps more of each dollar of revenue as operating profit (17.5% vs 5.8%).
- On earnings, AGCO is the cheaper stock (9.7x vs 39.2x).
- Caterpillar's price assumes faster free cash flow growth: about 14% a year, against -4% for AGCO (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AGCO | CAT |
|---|---|---|
| Market cap | $7.3B | $363.0B |
| Share price | $103.28 | $800.47 |
| Revenue (last fiscal year) | $10.1B | $67.6B |
| Free cash flow (last fiscal year) | $740M | $8.9B |
| Revenue growth, last year | -1.0% | +24.0% |
| Revenue growth per year, last 5 fiscal years | -2.5% | +7.3% |
| Operating margin | 5.8% | 17.5% |
| Net margin | 5.2% | 14.5% |
| Return on equity | 13.1% | 55.9% |
| P/E (trailing) | 9.73x | 39.2x |
| Price / free cash flow | 9.87x | 35.3x |
| EV / EBITDA | 9.84x | 24.9x |
| FCF growth the price implies | -4.4% | 14.3% |
| Dividend yield | 1.1% | 0.74% |
| Debt / equity | 1.84x | 4.29x |
| Fundamental grade | D | C |
| Superinvestors holding it | 4 | 12 |
| Insider purchases, last 12 months | 0 | 8 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
AGCO
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $11.1B | $390M | 9.0% |
| 2022 | $12.7B | $450M | 10.0% |
| 2023 | $14.4B | $585M | 11.8% |
| 2024 | $11.7B | $297M | -1.0% |
| 2025 | $10.1B | $740M | 5.9% |
Caterpillar
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $51.0B | $6.1B | 13.5% |
| 2022 | $59.4B | $6.5B | 13.3% |
| 2023 | $67.1B | $11.3B | 19.3% |
| 2024 | $64.8B | $10.0B | 20.2% |
| 2025 | $67.6B | $8.9B | 16.5% |
Where the revenue comes from
AGCO · by products, 2025
Tractors$6.7B66%
Replacement parts$1.9B19%
Combines, application equipment and other machinery$1.5B15%
Grain storage and protein production systems$1M0%
Caterpillar · by segments, 2025
Segments Excluding All Other Segments$68.3B81%
Resource Industries$12.2B14%
Financial Products Segment$4.2B5%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AGCO in InvestinglyQuestions
Which is bigger, AGCO or Caterpillar?
Caterpillar (CAT), at $363.0B against $7.3B.
Is AGCO or CAT cheaper?
By trailing P/E, AGCO (9.73x) is cheaper than Caterpillar (39.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, AGCO or CAT?
Caterpillar: revenue grew +24.0% over the last year, against -1.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.