AGCOAGCO CORP /DE
Farm Machinery & Equipment
- Revenue
- $10.1B
- 14% YoY
- Operating margin
- 5.9%
- 664% YoY
- EBITDA
- $852M
- 560% YoY
- Market cap
- $7.6B
- Employees
- 22,000
- $458K revenue each
- Net debt / EBITDA
- 1.3×
- $1.1B net debt
- AI in 10-K
- 0.8
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo136% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo34% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo16% of assetsOver 40% of assets
- Shareholder dissentNo93% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$458K · 52nd pctBottom quartile of its SIC industry
- Quiet on AINo0.8 per 10K words · 30th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo1.3× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$7.6B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$110M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $11.1B | $12.7B | $14.4B | $11.7B | $10.1B | 14% |
| Operating income | $1.0B | $1.3B | $1.7B | −$122M | $596M | 588% |
| Net income | $897M | $890M | $1.2B | −$425M | $727M | 271% |
| Operating cash flow | $660M | $838M | $1.1B | $690M | $988M | 43% |
| Capex | $270M | $388M | $518M | $393M | $248M | 37% |
| Stock-based comp | $27M | $34M | $46M | $18M | $28M | 54% |
| Buybacks | $135M | $0 | $53M | $22M | $250M | 1036% |
| Dividends | $359M | $404M | $457M | $273M | $87M | 68% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Sep 24, 2025 | SRINIVASAN MALLIKA | SCHEDULE 13D/A | 20.7% | Passive |
| Jul 9, 2025 | SRINIVASAN MALLIKA | SCHEDULE 13D/A | 36.9% | Passive |
| Jul 1, 2025 | SRINIVASAN MALLIKA | SCHEDULE 13D/A | 16.3% | Passive |
| Jun 27, 2025 | SRINIVASAN MALLIKA | SCHEDULE 13D/A | 36.9% | Passive |
| Apr 24, 2025 | SRINIVASAN MALLIKA | SCHEDULE 13D/A | 36.9% | Passive |
| Mar 24, 2025 | SRINIVASAN MALLIKA | SCHEDULE 13D/A | 24.2% | Passive |
| Feb 11, 2025 | SRINIVASAN MALLIKA | SCHEDULE 13D/A | 36.9% | Passive |
| Nov 25, 2024 | SRINIVASAN MALLIKA | SC 13D/A | 16.3% | Active |
| Sep 30, 2024 | SRINIVASAN MALLIKA | SC 13D/A | 16.3% | Active |
| Aug 6, 2024 | SRINIVASAN MALLIKA | SC 13D/A | 16.3% | Active |
Insider trading
- Open-market buys, 12 mo
- $101K · 1
- Open-market sells, 12 mo
- $110M · 10
- Net
- −$110M
Pay vs performance
No pay-versus-performance disclosure yet.