AGCO AGCO CORP /DE

Overview and Growth

In fiscal 2025, AGCO CORP /DE recorded $10.08B of revenue, net income of $726.50M, and an operating cash inflow of $988.10M. The $10.08B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line contracted 13.5% from $11.66B in fiscal 2024; this top-line contraction left the company with a smaller revenue base. Diluted earnings per share were $9.75, translating the period’s attributable earnings into the amount reported for each diluted share. Revenue equaled 0.85x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $2.57B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 25.5% of revenue, showing how much of the top line remained after direct costs. Operations produced $595.70M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 5.9% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $726.50M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 7.2% margin after operating costs and the remaining recognized items. An income-tax benefit of $77.40M improved the final result relative to pretax income or loss. The relationship between net income and period-end equity was 17.0%, indicating the profitability achieved on book capital. Net income represented 6.1% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

The company held $11.93B of assets against $7.36B of liabilities and $4.27B of equity, revealing how the asset base was financed. At period end, current assets of $5.20B compared with current liabilities of $3.73B, defining the company’s short-term resource position. The current ratio was 1.39x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $861.80M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 23.1%, excluding receivables and other current assets. Borrowings totaled $2.44B, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.57x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 20.5%, showing how much of the asset base was matched by borrowing. Relative to total assets, liabilities measured 61.7%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 7.2%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 6.6% higher than fiscal 2024 assets of $11.19B, measuring the company’s own balance-sheet change. Against $3.74B of equity in fiscal 2024, the current book-equity balance moved 14.2% and ended higher.

Cash Flow and Earnings Quality

The company reported $988.10M of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 1.36x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $247.90M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 25.1%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $740.20M of positive free cash flow for the period. The free-cash-flow margin was 7.3%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 6.2%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.