AGCO (AGCO) financial statements
AGCO reported revenue of $10.1B in fiscal 2025, up 3.5% a year over 9 years.
Net income was $726M and the operating margin 5.9%, against 3.9% in 2016.
Free cash flow was $740M, and the company returned $86M in dividends and $250M in net buybacks.
The diluted share count fell 9% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from AGCO's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.4B | $8.3B | $9.4B | $9.0B | $9.1B | $11.1B | $12.7B | $14.4B | $11.7B | $10.1B |
| Cost of revenue | $5.9B | $6.5B | $7.4B | $7.1B | $7.1B | $8.6B | $9.7B | $10.6B | $8.8B | $7.5B |
| Gross profit | $1.5B | $1.8B | $2.0B | $2.0B | $2.1B | $2.6B | $3.0B | $3.8B | $2.9B | $2.6B |
| Research and development | $298M | $323M | $355M | $343M | $343M | $406M | $444M | $421M | $381M | $374M |
| Selling, general and admin | $865M | $965M | $1.1B | $1.0B | $1.0B | $1.1B | $1.2B | $1.5B | $1.4B | $1.3B |
| Operating income | $287M | $404M | $489M | $348M | $600M | $1.0B | $1.3B | $1.7B | -$122M | $596M |
| Interest expense | $65M | $54M | $62M | $29M | $25M | $25M | $46M | $69M | — | — |
| Pre-tax income | $205M | $284M | $360M | $261M | $562M | $944M | $1.1B | $1.3B | -$434M | $602M |
| Income tax | $92M | $134M | $111M | $181M | $188M | $108M | $297M | $230M | $98M | -$77M |
| Net income | $160M | $186M | $286M | $125M | $427M | $897M | $890M | $1.2B | -$425M | $726M |
| EPS (diluted) | $1.96 | $2.32 | $3.58 | $1.63 | $5.65 | $11.85 | $11.87 | $15.63 | -$5.69 | $9.75 |
| Diluted shares | 82M | 80M | 80M | 77M | 76M | 76M | 75M | 75M | 75M | 74M |
| Gross margin | 20.5% | 21.3% | 21.4% | 21.9% | 22.5% | 23.1% | 23.7% | 26.2% | 24.9% | 25.5% |
| Operating margin | 3.9% | 4.9% | 5.2% | 3.9% | 6.6% | 9.0% | 10.0% | 11.8% | -1.0% | 5.9% |
| Net margin | 2.2% | 2.2% | 3.1% | 1.4% | 4.7% | 8.1% | 7.0% | 8.1% | -3.6% | 7.2% |
Balance sheet
Fiscal years, from AGCO's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $430M | $368M | $326M | $433M | $1.1B | $889M | $790M | $596M | $613M | $862M |
| Inventory | $1.5B | $1.9B | $1.9B | $2.1B | $2.0B | $2.6B | $3.2B | $3.4B | $2.7B | $2.7B |
| Total current assets | $3.2B | $3.6B | $3.5B | $3.7B | $4.4B | $5.0B | $5.7B | $6.3B | $5.1B | $5.2B |
| Property, plant and equipment | $1.4B | $1.5B | $1.4B | $1.4B | $1.5B | $1.5B | $1.6B | $1.9B | $1.8B | $2.0B |
| Goodwill | $1.4B | $1.5B | $1.5B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.8B | $1.9B |
| Total assets | $7.2B | $8.0B | $7.6B | $7.8B | $8.5B | $9.2B | $10.1B | $11.4B | $11.2B | $11.9B |
| Total current liabilities | $2.1B | $2.7B | $2.8B | $2.9B | $3.4B | $3.5B | $4.1B | $4.3B | $3.8B | $3.7B |
| Long-term debt | $1.6B | $1.6B | $1.3B | $1.2B | $1.3B | $1.4B | $1.3B | $1.4B | $2.2B | $2.3B |
| Total liabilities | $4.3B | $4.9B | $4.6B | $4.9B | $5.5B | $5.7B | $6.2B | $6.8B | $7.1B | $7.4B |
| Shareholders' equity | $2.8B | $3.0B | $2.9B | $2.9B | $3.0B | $3.4B | $3.9B | $4.7B | $3.7B | $4.3B |
| Net debt | $1.3B | $1.3B | $1.0B | $762M | $464M | $524M | $662M | $797M | $2.0B | $1.6B |
Cash flow
Fiscal years, from AGCO's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $370M | $578M | $596M | $696M | $896M | $660M | $838M | $1.1B | $690M | $988M |
| Capital spending | $201M | $204M | $203M | $273M | $270M | $270M | $388M | $518M | $393M | $248M |
| Free cash flow | $168M | $374M | $393M | $422M | $627M | $390M | $450M | $585M | $297M | $740M |
| Stock-based compensation | $18M | $38M | $46M | $41M | $38M | $27M | $34M | $46M | $18M | $28M |
| Dividends paid | $42M | $44M | $47M | $48M | $48M | $358M | $404M | $457M | $273M | $86M |
| Share buybacks (net) | -$212M | $0 | -$184M | -$130M | -$55M | -$135M | $0 | -$53M | -$22M | -$250M |
| Net borrowing | -$2.6B | -$3.6B | -$5.4B | -$2.2B | -$1.0B | -$2.5B | -$378M | -$459M | -$513M | -$437M |
| Free cash flow margin | 2.3% | 4.5% | 4.2% | 4.7% | 6.8% | 3.5% | 3.6% | 4.1% | 2.5% | 7.3% |
| Dividends per share | $0.52 | $0.55 | $0.59 | $0.62 | $0.63 | $4.74 | $5.40 | $6.11 | $3.66 | $1.16 |
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Open AGCO in InvestinglyQuestions
What was AGCO's revenue in 2025?
$10.1B in fiscal 2025, from its 10-K filing.
How much free cash flow does AGCO generate?
$740M in fiscal 2025 (operating cash flow minus capital spending).
From AGCO's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.