AGCO
AGCO Corporation
AGCO's fundamentals are mixed, but it looks expensive: trading at 29x earnings, about twice its usual 13x. Its downside scenario is about four times its upside.
AGCO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Stable |
AGCO's revenue, profitability and balance sheet are currently stable, but its cash flow is under pressure.
AGCO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.8x | $34.04 | -69% |
| Fair | 13x | $51.31 | -54% |
| Forward | 17x | $111 | — |
| Current | 29x | $111 | — |
| Expensive | 34x | $131 | +18% |
Historical ranges are pointers, not guarantees.
AGCO's PE is in its expensive range at 29x. If earnings grow as analysts expect, today's price would be 17x next year's earnings, in its fair range.
AGCO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect AGCO's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
AGCO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.42 | +65% |
| Q3 2026 | $3.89 | -23% |
| Q2 2026 | $7.23 | +440% |
| Q1 2026 | $10.37 | +$18.17 |
| Q4 2025 | $9.75 | +$15.44 |
| Q3 2025 | $5.03 | +123% |
| Q2 2025 | $1.34 | -76% |
| Q1 2025 | -$7.80 | -153% |
| Q4 2024 | -$5.69 | -136% |
AGCO's earnings per share have fallen from their peak: $3.89 over the past year, against $15.63 in late 2023.
AGCO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.3B | -8.6% |
| Q2 2026 | $2.6B | -1% |
| Q1 2026 | $2.3B | +14% |
| Q4 2025 | $2.9B | +1.1% |
| Q3 2025 | $2.5B | -4.7% |
| Q2 2025 | $2.6B | -19% |
| Q1 2025 | $2.1B | -30% |
| Q4 2024 | $2.9B | -24% |
AGCO's revenue fell from its 2022 peak and has held roughly level since: $2.3B last quarter, down 8.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.1% | -1 points |
| Q2 2026 | 5.4% | -0.8 points |
| Q1 2026 | 3.4% | +1 points |
| Q4 2025 | 7.9% | +17 points |
| Q3 2025 | 6.1% | +1.7 points |
| Q2 2025 | 6.2% | +14 points |
| Q1 2025 | 2.4% | -6.9 points |
| Q4 2024 | -9.3% | -20 points |
AGCO's operating margin was 5.1% last quarter, down 1 points from the same quarter a year ago.
AGCO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$33.8M | -1710% |
| Q2 2026 | $108.2M | -67% |
| Q1 2026 | -$455M | -$194.6M |
| Q4 2025 | $675M | -1.3% |
| Q3 2025 | $2.1M | +$61.9M |
| Q2 2025 | $323.5M | +135% |
| Q1 2025 | -$260.4M | +$204.6M |
| Q4 2024 | $683.9M | -7.6% |
AGCO usually generates cash, though not every quarter: the latest was −$34M, but it generated $294M over the past year.
AGCO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.4% | -1.7M shares |
| 1 year | -7% | -5.2M shares |
| 3 years | -7.3% | -5.5M shares |
| 5 years | -8.1% | -6.1M shares |
| Available history | -9.7% | -7.5M shares |
AGCO has 70M diluted shares, down 7% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $56.7M |
| Q4 2022 | — |
| Q4 2021 | $60M |
| Q3 2021 | $75M |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
AGCO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.5x | Moderate |
| Q2 2026 | 2.3x | Moderate |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 1.7x | Healthy |
| Q3 2025 | 4.6x | High |
| Q2 2025 | 5.9x | High |
| Q4 2024 | 9.7x | High |
| Q3 2024 | 4.0x | Elevated |
AGCO's net debt is about 2.5 years of its operating earnings (EBITDA), down from 4.6 years a year ago.
AGCO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.0 | Neutral |
| Stochastic | 34.4 | Neutral |
AGCO's weekly RSI is 49 (neutral) and its Stochastic is 34 (neutral).
AGCO PE vs Industrials Sector
| Metric | AGCO | Sector median | Relative |
|---|---|---|---|
| PE | 29x | 24x | 19% above |
| PE % | 78 | 58 | 20 pts above |
AGCO is trading at 29x earnings, a 19% premium to the Industrials sector's median of 24x.
AGCO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $109.8 | 1.5% above |
| 20 week MA | $112.3 | 0.8% below |
| 50 week MA | $114.9 | 3% below |
| 100 week MA | $108.4 | 2.8% above |
| 200 week MA | $111.7 | 0.2% below |
AGCO's trend is mixed: it's above two of its five weekly moving averages, and 0.2% below its 200-week average.
AGCO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $77.8 | $103.2 | +33% |
| 2021 | $103.2 | $115.6 | +12% |
| 2022 | $115.6 | $134.2 | +16% |
| 2023 | $134.2 | $121.4 | -9.5% |
| 2024 | $121.4 | $93.2 | -23% |
| 2025 | $93.2 | $105.5 | +13% |
| 2026 YTD | $105.5 | $111.4 | +5.7% |
AGCO has finished higher in four of the last six years. It's up 5.7% so far in 2026.