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Morningstar’s Analysis

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Economic Moat




Agco Under Review

Analyst Note

| Brian Bernard, CFA, CPA |

We are placing our fair value estimate for Agco under review as we transfer coverage to a new analyst. We plan to publish an updated report and valuation by early December.

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Company Profile

Business Description

Based in Duluth, Georgia, Agco is the third- largest agricultural equipment manufacturer, behind Deere and CNH Industrial. It has five principal brands: Massey Ferguson, Challenger, Fendt, Valtra, and GSI. Unlike its competitors, Agco's product line extends beyond self-propelled equipment and implements by offering grain handling systems and livestock management solutions. The company reports segment revenue by geographic region, with North America accounting for 24% of revenue; South America, 9%; Europe/Africa/Middle East, 59%; and Asia/Pacific, 8%. Agco's revenue in 2019 was $9 billion.

4205 River Green Parkway
Duluth, GA, 30096
T +1 770 813-9200
Sector Industrials
Industry Farm & Heavy Construction Machinery
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 21,000