AGCO
Manufactures tractors, combines and precision-ag technology under the Fendt, Massey Ferguson and Valtra brands.
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Profile
Sells tractors, combines, hay and forage equipment and precision-agriculture technology through four brands: Fendt, Massey Ferguson, PTx and Valtra, each keeping its own dealer network. Manufacturing concentrates in Europe, with additional operations across North America, South America and Asia-Pacific-Africa, and equipment demand moves with farm income and commodity prices.
Designs and manufactures tractors, combines, hay and forage equipment, and precision-agriculture technology under four core brands: Fendt, Massey Ferguson, PTx and Valtra, each keeping its own dealer network and market identity.
Traces to a 1990 management buyout of Klockner-Humboldt-Deutz's Deutz-Allis operation, itself descended from Allis-Chalmers, and grew for three decades by acquiring orphaned Western tractor and combine makers, including Massey Ferguson, Fendt and Valtra.
Manufacturing concentrates in Europe, home to the Fendt and Massey Ferguson production base, with North America, South America and Asia-Pacific-Africa completing four geographic segments. Since 2021 the business has moved toward precision agriculture, forming a majority-owned joint venture with Trimble and exiting its lower-margin grain-storage business in 2024.
Equipment purchases move with farm income, commodity prices and weather; cross-border machinery carries tariff exposure, and financing the Trimble venture added debt to the balance sheet.
Company facts
Key statistics
Year to date +7.1% · Average volume (30d) 967.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 4, 2026 | Morgan Stanley | Reiterate | Underweight | $108 | $99 |
| Jul 31, 2026 | Bernstein | Reiterate | Market Perform | $108 | |
| Jul 31, 2026 | D.A. Davidson | Target | $160 | $151 | |
| Jul 31, 2026 | Oppenheimer | Reiterate | Outperform | $134 | $127 |
| Jul 9, 2026 | D.A. Davidson | Target | $160 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $1.46 | $1.43 | −2.1% | $2.75B | $2.61B | −5.1% | −7.78% |
| May 5, 2026Q1 FY26 | $0.44 | $0.94 | +113.6% | $2.26B | $2.34B | +3.8% | +4.96% |
| Feb 5, 2026Q4 FY25 | $1.85 | $2.17 | +17.3% | $2.67B | $2.92B | +9.4% | +6.62% |
| Oct 31, 2025Q3 FY25 | $1.26 | $1.35 | +7.1% | $2.67B | $2.48B | −7.3% | +2.04% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.05B | $2.64B | $2.48B | $2.92B | $2.34B | $2.61B | |
| Gross profit | $503.0M | $641.5M | $620.3M | $741.1M | $581.4M | $645.9M | |
| Operating income | $61.2M | $197.3M | $156.5M | $276.8M | $92.8M | $151.9M | |
| Net income | $10.5M | $314.8M | $305.7M | $95.5M | $55.0M | $77.2M | |
| Diluted EPS | $0.14 | $4.21 | $4.09 | $1.29 | $0.76 | $1.08 | |
| Gross margin | 24.5% | 24.3% | 25.0% | 25.4% | 24.8% | 24.7% | |
| Operating margin | 3.0% | 7.5% | 6.3% | 9.5% | 4.0% | 5.8% |
Fiscal years (4-quarter sums)FY21 $11.14B · FY22 $12.65B · FY23 $14.41B · FY24 $11.66B · FY25 $10.08B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $573.4M · Total debt $111.9M · Total assets $11.88B · Shareholders' equity $4.08B
Dividends
Raised for 12 straight years — most recently to $0.30 from $0.29 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Sep 15 | $0.30 | |
| May 15, 2026 | May 15 | Jun 15 | $0.30 | raised from $0.29 |
| Feb 13, 2026 | Feb 13 | Mar 16 | $0.29 | |
| Nov 14, 2025 | Nov 14 | Dec 15 | $0.29 | |
| Aug 15, 2025 | Aug 15 | Sep 15 | $0.29 | |
| May 15, 2025 | May 15 | Jun 16 | $0.29 | |
| Feb 14, 2025 | Feb 14 | Mar 14 | $0.29 | |
| Nov 15, 2024 | Nov 15 | Dec 16 | $0.29 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 70.03M · Float 58.10M · 83.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Srinivasan Mallika | 12.17M | 16.30% | 13D | Sep 24, 2025 |
| BlackRock, Inc. | 5.86M | 8.37% | 13F | Aug 7, 2026 |
| Price T Rowe Associates Inc /MD/ | 5.52M | 7.89% | 13F | Aug 14, 2026 |
| T. Rowe Price Associates, Inc. | 5.08M | 6.80% | 13G | Aug 14, 2025 |
| Dimensional Fund Advisors LP | 3.60M | 5.15% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 14, 2026 | Bob de Lange | director | +1,000 | $100.71 |
| Aug 6, 2026 | Kelvin Eugene Bennett | officer: SVP Engineering | −2,000 | $102.27 |
| Aug 5, 2026 | Tractors & Farm Equipment Ltd | 10 percent owner | −492,418 | $115.33 |
| May 5, 2026 | Tractors & Farm Equipment Ltd | 10 percent owner | −422,590 | $123.28 |
| Feb 17, 2026 | Kelvin Eugene Bennett | officer: SVP Engineering | −2,300 | $137.04 |
Peers
- Deere & Company
Named principal rival; roughly four times larger across full-line ag equipment
- CNH Industrial
Closest structural peer; parallel divestiture and precision-ag M&A playbook
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| AGCO | $114.70 | +1.16% | $7.94B | 15.7 | 17.5 | 0.8 | −1.0% |
| Deere & Company | $630.06 | −0.02% | $170.15B | 35.0 | 30.2 | 3.6 | +7.0% |
| CNH Industrial | $11.68 | 0.00% | $14.48B | 47.0 | 21.1 | 0.8 | +2.0% |
| Median | 41.0 | 25.7 | 2.2 | +4.5% |