AGCO vs Deere
Add, change or remove companies; up to four.
The short version
- Deere is the larger business, with $45.7B of revenue in fiscal 2025 against $10.1B for AGCO, about 4.5 times as much.
- Deere grew revenue faster (−11.7%, against −13.6%).
- Deere turned more of its sales into free cash flow (13.4% FCF margin, against 7.3%).
- Investors pay more for each dollar of Deere’s earnings: a P/E of 35.9x against 14.7x for AGCO.
| Latest fiscal year | AGCO · FY25 | DE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.6B | $174.9B |
| Revenue | $10.1B | $45.7B |
| Free cash flow | $740M | $6.1B |
| Net income | $727M | $5.0B |
| Growth | ||
| Revenue growth | −13.6% | −11.7% |
| 5-year growth | 2.0% | 5.2% |
| Share count change | −0.3% | −2.0% |
| Profitability | ||
| Gross margin | 25.5% | — |
| Operating margin | 5.9% | — |
| Net margin | 7.2% | 11.0% |
| FCF margin | 7.3% | 13.4% |
| Return on capital | 10.4% | — |
| Return on equity | 18.1% | 20.6% |
| Balance sheet | ||
| Net debt | $1.5B | — |
| Net debt / EBITDA | 1.7x | — |
| Dividends and buybacks | $337M | $2.9B |
| Valuation & quality | ||
| P/E | 14.7x | 35.9x |
| Piotroski F-score | 8 | — |
Revenue
FY16
AGCO $7.4B
DE $26.6B
FY17
AGCO $8.3B
DE $29.7B
FY18
AGCO $9.4B
DE $37.4B
FY19
AGCO $9.0B
DE $39.3B
FY20
AGCO $9.1B
DE $35.5B
FY21
AGCO $11.1B
DE $44.0B
FY22
AGCO $12.7B
DE $52.6B
FY23
AGCO $14.4B
DE $61.3B
FY24
AGCO $11.7B
DE $51.7B
FY25
AGCO $10.1B
DE $45.7B
AGCO
DE
Operating margin
FY16
AGCO 3.9%
DE 9.7%
FY17
AGCO 4.9%
DE 12.0%
FY18
AGCO 5.2%
DE 12.0%
FY19
AGCO 3.9%
DE 11.3%
FY20
AGCO 6.6%
DE 12.1%
FY21
AGCO 9.0%
DE 18.2%
FY22
AGCO 10.0%
DE 18.1%
FY23
AGCO 11.8%
DE 21.2%
FY24
AGCO −1.1%
DE 17.5%
FY25
AGCO 5.9%
DE —
AGCO
DE
Free cash flow
FY16
AGCO $169M
DE $3.1B
FY17
AGCO $374M
DE $1.6B
FY18
AGCO $393M
DE $926M
FY19
AGCO $423M
DE $2.3B
FY20
AGCO $627M
DE $6.7B
FY21
AGCO $390M
DE $6.9B
FY22
AGCO $450M
DE $3.6B
FY23
AGCO $585M
DE $7.1B
FY24
AGCO $297M
DE $7.6B
FY25
AGCO $740M
DE $6.1B
AGCO
DE
Return on capital
FY16
AGCO 4.1%
DE —
FY17
AGCO 5.0%
DE —
FY18
AGCO 7.9%
DE 8.5%
FY19
AGCO 4.4%
DE 9.7%
FY20
AGCO 10.9%
DE 8.1%
FY21
AGCO 23.3%
DE 15.3%
FY22
AGCO 21.5%
DE —
FY23
AGCO 28.1%
DE —
FY24
AGCO −1.7%
DE —
FY25
AGCO 10.4%
DE —
AGCO
DE
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.