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Arphra AIPlain-English read on AGCO Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $11.14B | $12.65B | $14.41B | $11.66B | $10.08B | $10.6B | $11.19B | $11.82B | $11.36B |
| Cost of revenue | $8.63B | $9.7B | $10.67B | $8.82B | $7.59B | $7.86B | $8.57B | $9B | $8.75B |
| Gross profit | $2.51B | $2.96B | $3.74B | $2.84B | $2.5B | $2.66B | $2.82B | $2.96B | $2.76B |
| Gross margin | +22.52% | +23.36% | +25.93% | +24.39% | +24.75% | +25.11% | +25.21% | +25.04% | +24.29% |
| Operating | |||||||||
| Research & development | $405.8M | $444.2M | $548.8M | $493M | $487.7M | $468.55M | $471.01M | $496.76M | $489.2M |
| Selling, general & administrative | $1.09B | $1.19B | $1.45B | $1.37B | $1.31B | $1.25B | $1.27B | $1.41B | $1.28B |
| Total operating expenses | $1.49B | $1.63B | $2B | $1.87B | $1.8B | $1.71B | $1.77B | $1.86B | $1.86B |
| Operating income | $1.01B | $1.32B | $1.73B | $977.2M | $698.7M | $961.24M | $997.01M | $1.05B | $1.04B |
| Operating margin | +9.10% | +10.45% | +12.03% | +8.38% | +6.93% | +9.07% | +8.91% | +8.86% | +9.19% |
| EBITDA | $1.25B | $1.42B | $1.69B | $58.6M | $996M | $989.96M | $1.03B | $1.11B | $1.01B |
| EBIT | $969.7M | $1.15B | $1.4B | -$273.6M | $668.4M | $497.9M | $511.43M | $539.36M | $517.78M |
| Below the line | |||||||||
| Interest expense | $25.4M | $46M | $68.8M | $160M | $66.4M | $87.47M | $91.45M | $96.79M | $94.66M |
| Interest income | $18.7M | $33M | $64.2M | $66.3M | $0 | $36.1M | $38.02M | $40.82M | $37.27M |
| Other income / expense | -$3.8M | -$150.3M | -$332.6M | -$1.36B | -$57.1M | — | — | — | — |
| Pre-tax income | $1.01B | $1.17B | $1.4B | -$387.2M | $641.6M | $455.56M | $490.4M | $503.31M | $483.78M |
| Income tax expense | $108.4M | $296.6M | $230.4M | $98.4M | -$77.4M | $73.79M | $80.08M | $84.92M | $78.26M |
| Earnings | |||||||||
| Net income | $897M | $889.6M | $1.17B | -$424.8M | $726.5M | $412.24M | $424.12M | $458.12M | $455.51M |
| Net income · continuing ops | $901.5M | $874.7M | $1.17B | -$485.6M | $719M | $395.59M | $416.47M | $435.52M | $419.74M |
| Net margin | +8.05% | +7.03% | +8.13% | -3.64% | +7.21% | +3.89% | +3.79% | +3.88% | +4.01% |
| EPS · basic | $11.93 | $11.92 | $15.66 | $-5.69 | $9.76 | $6.02 | $8.05 | $10.19 | $8.98 |
| EPS · diluted | $11.85 | $11.88 | $15.64 | $-5.69 | $9.75 | $5.99 | $8.03 | $10.32 | $8.90 |
| EPS · low estimate | — | — | — | — | — | $5.92 | $7.69 | $8.88 | $8.74 |
| EPS · high estimate | — | — | — | — | — | $6.09 | $8.98 | $13.06 | $9.08 |
| Shares · basic | 75.2M | 74.6M | 74.8M | 74.6M | 74.4M | 74.03M | 74.97M | 74.08M | 75.01M |
| Shares · diluted | 75.7M | 74.9M | 74.9M | 74.7M | 74.5M | 74.62M | 74.41M | 74.84M | 74.61M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 11 | 11 | 7 | 3 |
| Analysts (EPS) | — | — | — | — | — | 10 | 11 | 5 | 1 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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