AGCO vs Toro
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KIRA’s take AI analyst
I put AGCO and Toro side by side, using each one’s latest annual report. Here is what stands out:
- AGCO is the larger business, with $10.1B of revenue in fiscal 2025 against $4.5B for Toro, about 2.2 times as much.
- Toro grew revenue faster (−1.6%, against −13.6%).
- Toro kept more of each dollar of sales as operating profit (9.1% operating margin, against 5.9%).
- Toro turned more of its sales into free cash flow (12.8% FCF margin, against 7.3%).
- Toro earned a higher return on the capital invested in it (15.9%, against 10.4%).
- Investors pay more for each dollar of Toro’s earnings: a P/E of 28.1x against 14.4x for AGCO.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
AGCO
AGCO
2/11
Net marginPiotroski F-score
Toro
TTC
9/11
Revenue growth5-year growthGross marginOperating marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | AGCO FY25 | TTC FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.4B | $10.1B |
| Revenue | $10.1B | $4.5B |
| Free cash flow | $740M | $578M |
| Net income | $727M | $316M |
| Growth | ||
| Revenue growth | −13.6% | −1.6% |
| 5-year growth | 2.0% | 6.0% |
| Share count change | −0.3% | −4.4% |
| Profitability | ||
| Gross margin | 25.5% | 33.4% |
| Operating margin | 5.9% | 9.1% |
| Net margin | 7.2% | 7.0% |
| FCF margin | 7.3% | 12.8% |
| Return on capital | 10.4% | 15.9% |
| Return on equity | 18.1% | 21.0% |
| Balance sheet | ||
| Net debt | $1.5B | $581M |
| Net debt / EBITDA | 1.7x | 1.1x |
| Dividends and buybacks | $337M | $441M |
| Valuation & quality | ||
| P/E | 14.4x | 28.1x |
| Piotroski F-score | 8 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.