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Agco vs Deere: revenue, profit, margins and growth compared

Agco brought in $10.1B of revenue in fiscal 2025, Deere $45.7B in fiscal 2025. Revenue changed by -13.5% at Agco and -11.7% at Deere on the year before, so Deere grew faster. Agco kept 7.2% of its revenue as net profit, Deere 11.0%. Free cash flow was $740.2M at Agco and $6.1B at Deere.

Side by side, latest fiscal year

AGCODE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (November 2, 2025)
Revenue$10.1B$45.7B
Revenue growth-13.5%-11.7%
Net income$726.5M$5B
Net margin7.2%11.0%
Free cash flow$740.2M$6.1B
Free cash flow margin7.3%13.4%
Earnings per share (diluted)$9.75$18.50
Cash$861.8M$8.3B
Debt$2.4Bn/a
Price to earnings12.137.3
Market value$8.3B$186.4B
Dividend yield0.98%0.94%
Rank by revenue in sector#65 of 451 · Industrials#11 of 451 · Industrials

Over the years

Revenue
AGCO FY2018: $9.4BAGCO FY2019: $9BAGCO FY2020: $9.1BAGCO FY2021: $11.1BAGCO FY2022: $12.7BAGCO FY2023: $14.4BAGCO FY2024: $11.7BAGCO FY2025: $10.1BDE FY2018: $37.4BDE FY2019: $39.3BDE FY2020: $35.5BDE FY2021: $44BDE FY2022: $52.6BDE FY2023: $61.3BDE FY2024: $51.7BDE FY2025: $45.7BFY18FY19FY20FY21FY22FY23FY24FY25
AGCO $10.1BDE $45.7B
Net income
AGCO FY2018: $285.5MAGCO FY2019: $125.2MAGCO FY2020: $427.1MAGCO FY2021: $897MAGCO FY2022: $889.6MAGCO FY2023: $1.2BAGCO FY2024: -$424.8MAGCO FY2025: $726.5MDE FY2018: $2.4BDE FY2019: $3.3BDE FY2020: $2.8BDE FY2021: $6BDE FY2022: $7.1BDE FY2023: $10.2BDE FY2024: $7.1BDE FY2025: $5BFY18FY19FY20FY21FY22FY23FY24FY25
AGCO $726.5MDE $5B
Net margin
AGCO FY2018: 3.1%AGCO FY2019: 1.4%AGCO FY2020: 4.7%AGCO FY2021: 8.1%AGCO FY2022: 7.0%AGCO FY2023: 8.1%AGCO FY2024: -3.6%AGCO FY2025: 7.2%DE FY2018: 6.3%DE FY2019: 8.3%DE FY2020: 7.7%DE FY2021: 13.5%DE FY2022: 13.6%DE FY2023: 16.6%DE FY2024: 13.7%DE FY2025: 11.0%FY18FY19FY20FY21FY22FY23FY24FY25
AGCO 7.2%DE 11.0%
Revenue growth
AGCO FY2019: -3.3%AGCO FY2020: +1.2%AGCO FY2021: +21.7%AGCO FY2022: +13.6%AGCO FY2023: +13.9%AGCO FY2024: -19.1%AGCO FY2025: -13.5%DE FY2019: +5.1%DE FY2020: -9.5%DE FY2021: +23.9%DE FY2022: +19.4%DE FY2023: +16.5%DE FY2024: -15.6%DE FY2025: -11.7%FY19FY20FY21FY22FY23FY24FY25
AGCO -13.5%DE -11.7%
Free cash flow
AGCO FY2018: $392.6MAGCO FY2019: $422.5MAGCO FY2020: $626.6MAGCO FY2021: $390.4MAGCO FY2022: $449.9MAGCO FY2023: $585MAGCO FY2024: $296.6MAGCO FY2025: $740.2MDE FY2018: $926MDE FY2019: $2.3BDE FY2020: $6.7BDE FY2021: $6.9BDE FY2022: $3.6BDE FY2023: $7.1BDE FY2024: $7.6BDE FY2025: $6.1BFY18FY19FY20FY21FY22FY23FY24FY25
AGCO $740.2MDE $6.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Agco and Deere

Which is bigger by revenue, Agco or Deere?

Deere is bigger by revenue: $45.7B in fiscal 2025, against $10.1B for Agco in fiscal 2025.

Which keeps more of its revenue as profit, Agco or Deere?

Agco had a net margin of 7.2% in fiscal 2025; Deere had 11.0% in fiscal 2025.

Which grew revenue faster, Agco or Deere?

In their latest fiscal years revenue changed by -13.5% at Agco and -11.7% at Deere.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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