AGCO vs Lindsay
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The short version
- AGCO is the larger business, with $10.1B of revenue in fiscal 2025 against $636M for Lindsay, about 16 times as much.
- Lindsay grew revenue faster (−6.0%, against −13.6%).
- Lindsay kept more of each dollar of sales as operating profit (10.5% operating margin, against 5.9%).
- AGCO turned more of its sales into free cash flow (7.3% FCF margin, against 5.5%).
- Lindsay earned a higher return on the capital invested in it (11.9%, against 10.4%).
| Latest fiscal year | AGCO · FY25 | LNN · FY26 |
|---|---|---|
| Size | ||
| Market cap | $7.6B | $1.1B |
| Revenue | $10.1B | $636M |
| Free cash flow | $740M | $34.8M |
| Net income | $727M | $55.7M |
| Growth | ||
| Revenue growth | −13.6% | −6.0% |
| 5-year growth | 2.0% | 2.3% |
| Share count change | −0.3% | −4.4% |
| Profitability | ||
| Gross margin | 25.5% | 28.9% |
| Operating margin | 5.9% | 10.5% |
| Net margin | 7.2% | 8.8% |
| FCF margin | 7.3% | 5.5% |
| Return on capital | 10.4% | 11.9% |
| Return on equity | 18.1% | 10.7% |
| Balance sheet | ||
| Net debt | $1.5B | −$74.8M |
| Net debt / EBITDA | 1.7x | −0.8x |
| Dividends and buybacks | $337M | $96.1M |
| Valuation & quality | ||
| P/E | 14.7x | — |
| Piotroski F-score | 8 | 5 |
Revenue
FY17
AGCO $8.3B
LNN $518M
FY18
AGCO $9.4B
LNN $548M
FY19
AGCO $9.0B
LNN $444M
FY20
AGCO $9.1B
LNN $475M
FY21
AGCO $11.1B
LNN $568M
FY22
AGCO $12.7B
LNN $771M
FY23
AGCO $14.4B
LNN $674M
FY24
AGCO $11.7B
LNN $607M
FY25
AGCO $10.1B
LNN $676M
FY26
AGCO —
LNN $636M
AGCO
LNN
Operating margin
FY17
AGCO 4.9%
LNN 7.9%
FY18
AGCO 5.2%
LNN 7.1%
FY19
AGCO 3.9%
LNN 1.4%
FY20
AGCO 6.6%
LNN 11.4%
FY21
AGCO 9.0%
LNN 9.5%
FY22
AGCO 10.0%
LNN 12.3%
FY23
AGCO 11.8%
LNN 15.2%
FY24
AGCO −1.1%
LNN 12.6%
FY25
AGCO 5.9%
LNN 13.0%
FY26
AGCO —
LNN 10.5%
AGCO
LNN
Free cash flow
FY17
AGCO $374M
LNN $30.6M
FY18
AGCO $393M
LNN $22.9M
FY19
AGCO $423M
LNN −$19.4M
FY20
AGCO $627M
LNN $24.6M
FY21
AGCO $390M
LNN $17.5M
FY22
AGCO $450M
LNN −$12.6M
FY23
AGCO $585M
LNN $101M
FY24
AGCO $297M
LNN $66.8M
FY25
AGCO $740M
LNN $90.4M
FY26
AGCO —
LNN $34.8M
AGCO
LNN
Return on capital
FY17
AGCO 5.0%
LNN 9.9%
FY18
AGCO 7.9%
LNN 9.4%
FY19
AGCO 4.4%
LNN 2.5%
FY20
AGCO 10.9%
LNN 16.1%
FY21
AGCO 23.3%
LNN 15.7%
FY22
AGCO 21.5%
LNN 20.1%
FY23
AGCO 28.1%
LNN 18.5%
FY24
AGCO −1.7%
LNN 15.8%
FY25
AGCO 10.4%
LNN 17.2%
FY26
AGCO —
LNN 11.9%
AGCO
LNN
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.