AGCO
AGCO CORP /DE
Industrials • CIK: 0000880266
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Market Cap
$7.76B
P/E (TTM)
10.7x
Rev Growth (TTM)
+14.3%
Net Margin (TTM)
7.2%
FCF Yield (TTM)
9.5%
FCF Margin (TTM)
7.3%
Cash Flow Health
Free Cash Flow5/8 positive
TTM$740M
Q4 '25
$675M+32043%
Q3 '25
$2M-99%
FCF Margin
TTM7.3%
Q4 '2523.1%+27157%
Sector: 5.4%Above Avg
OCF Margin9.8%
OCF/NI1.36x
CapEx Coverage4.0x
FCF Yield9.5%
FCF Growth (2Y)+18%
Cash Conversion Cycle
96 days
DSO: 0+DIO: 144−DPO: 48
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldFY
FY1.1%
Div Yield1.1%
+Buyback (FY)3.2%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)1.1%
FCF Payout Ratio11.7%
Free Cash Flow (TTM)$740.2M
Stock Repurchases (FY)$250.0M
Capital Return / FCF11.7%
Est. Dividends Paid (TTM)$86.3M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
9.7%
Volatile
+19.1%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
6.7%
8Q: 4.7%
Asset Turnover
0.84x
8Q: 0.84x
Leverage (1+D/E)
1.57x
D/E: 0.57x
DuPont: 8.8% ≈ 9.7% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
5.22x
8Q:5.57x
-374.7%
Invested Cap Turn
1.56x
8Q:1.55x
-37.1%
CapEx Intensity
3.8%
8Q:5.1%
CapEx/Depreciation
0.97x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $10.1B | $2.9B↑17.9% | $2.5B↓6.0% | $2.6B↑28.5% | $2.1B↑4067.7% | $49.2M↓98.1% | $2.6B↓19.9% | $3.2B↑10.9% | $2.9B |
Operating Income | $595.7M | $230.7M↑52.2% | $151.6M↓7.6% | $164.0M↑232.0% | $49.4M↑118.4% | $-268.8M↓334.1% | $114.8M↑147.5% | $-241.7M↓188.3% | $273.6M |
Net Income | $726.5M | $95.5M↓68.8% | $305.7M↓2.9% | $314.8M↑2898.1% | $10.5M↑103.2% | $-329.6M↓1198.7% | $30.0M↑108.2% | $-367.1M↓318.5% | $168.0M |
Operating Cash Flow | $988.1M | $763.6M↑975.5% | $71.0M↓80.6% | $365.7M↑272.3% | $-212.2M↓126.6% | $797.9M↑2910.9% | $26.5M↓88.7% | $235.5M↑163.6% | $-370.0M |
Free Cash Flow | $740.2M | $675.0M↑32042.9% | $2.1M↓99.4% | $323.5M↑224.2% | $-260.4M↓138.1% | $683.9M↑1243.6% | $-59.8M↓143.5% | $137.5M↑129.6% | $-465.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
10.7x
Volatile
8Q: 40.4x+3641%
Valuation Lenses
Earnings
10.7x
vs – sector
Cash Flow
13.3x
EV/FCF vs –
Growth-Adj
0.7xPEG
Undervalued for growth
Quality-Adj
1.1P/E per %ROIC
ROIC: 9.7%
Shareholder Returns
Dividend
1.1%
Buyback
–
Total Yield
1.1%
Market Cap$7.76B
EV$9.84B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
63/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Above Avg
17.6%
8Q:–
Return on Invested Capital (ROIC)Top 25%
9.7%
8Q:–
+19.1%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 6.7%
Asset Turnover: 0.84x
Earnings Quality
Cash Conversion
1.36x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin25.5%
Capital Efficiency
Invested Capital Turnover1.56x
Working Capital
Cash Conversion Cycle96 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
73/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
14.3%
OpInc Growth YoY
185.8%
EPS Growth YoY
N/A
FCF 3Y CAGR
18.1%
Growth Quality Analysis
✓Sustainability Index: 7.5/10 - Highly sustainable growth
Margin Quality & Sustainability
High Quality
Profitability Cascade
Gross
25.5%
Operating
5.9%
Below Avg in sector
Net
7.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+0.1 pts
FCF: 7.3% | Net: 7.2%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $1.58B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.57x
Balance sheet risk & solvency analysis