Intrinsic value of AGCO - AGCO

Previous Close

$73.14

  Intrinsic Value

$70.94

stock screener

  Rating & Target

hold

-3%

Previous close

$73.14

 
Intrinsic value

$70.94

 
Up/down potential

-3%

 
Rating

hold

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of AGCO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -0.75
  12.70
  11.93
  11.24
  10.61
  10.05
  9.55
  9.09
  8.68
  8.31
  7.98
  7.68
  7.42
  7.17
  6.96
  6.76
  6.59
  6.43
  6.28
  6.16
  6.04
  5.94
  5.84
  5.76
  5.68
  5.61
  5.55
  5.50
  5.45
  5.40
  5.36
Revenue, $m
  7,411
  8,352
  9,349
  10,399
  11,503
  12,659
  13,868
  15,128
  16,442
  17,809
  19,231
  20,709
  22,245
  23,841
  25,499
  27,223
  29,016
  30,881
  32,821
  34,842
  36,946
  39,140
  41,426
  43,812
  46,301
  48,901
  51,616
  54,454
  57,420
  60,523
  63,768
Variable operating expenses, $m
 
  7,934
  8,864
  9,844
  10,875
  11,954
  13,082
  14,259
  15,485
  16,761
  18,088
  19,330
  20,764
  22,254
  23,802
  25,411
  27,085
  28,825
  30,637
  32,523
  34,487
  36,534
  38,669
  40,895
  43,219
  45,646
  48,180
  50,829
  53,598
  56,494
  59,523
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  7,122
  7,934
  8,864
  9,844
  10,875
  11,954
  13,082
  14,259
  15,485
  16,761
  18,088
  19,330
  20,764
  22,254
  23,802
  25,411
  27,085
  28,825
  30,637
  32,523
  34,487
  36,534
  38,669
  40,895
  43,219
  45,646
  48,180
  50,829
  53,598
  56,494
  59,523
Operating income, $m
  288
  418
  485
  555
  628
  705
  786
  869
  957
  1,048
  1,143
  1,379
  1,481
  1,587
  1,697
  1,812
  1,932
  2,056
  2,185
  2,319
  2,459
  2,605
  2,758
  2,916
  3,082
  3,255
  3,436
  3,625
  3,822
  4,029
  4,245
EBITDA, $m
  562
  743
  832
  926
  1,024
  1,127
  1,234
  1,346
  1,463
  1,585
  1,712
  1,843
  1,980
  2,122
  2,269
  2,423
  2,582
  2,748
  2,921
  3,101
  3,288
  3,483
  3,687
  3,899
  4,121
  4,352
  4,594
  4,846
  5,110
  5,387
  5,675
Interest expense (income), $m
  0
  56
  75
  96
  117
  139
  163
  188
  213
  240
  268
  297
  327
  358
  390
  424
  459
  496
  533
  573
  614
  657
  701
  748
  796
  847
  900
  955
  1,013
  1,073
  1,136
Earnings before tax, $m
  205
  362
  409
  459
  511
  566
  623
  682
  744
  808
  875
  1,082
  1,154
  1,229
  1,307
  1,388
  1,472
  1,560
  1,651
  1,746
  1,845
  1,949
  2,056
  2,169
  2,286
  2,408
  2,536
  2,670
  2,810
  2,956
  3,109
Tax expense, $m
  92
  98
  111
  124
  138
  153
  168
  184
  201
  218
  236
  292
  312
  332
  353
  375
  398
  421
  446
  472
  498
  526
  555
  586
  617
  650
  685
  721
  759
  798
  839
Net income, $m
  160
  264
  299
  335
  373
  413
  454
  498
  543
  590
  639
  790
  842
  897
  954
  1,013
  1,075
  1,139
  1,205
  1,275
  1,347
  1,422
  1,501
  1,583
  1,669
  1,758
  1,851
  1,949
  2,051
  2,158
  2,269

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  430
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,168
  7,593
  8,499
  9,454
  10,457
  11,508
  12,607
  13,753
  14,947
  16,190
  17,483
  18,826
  20,222
  21,673
  23,181
  24,748
  26,378
  28,074
  29,838
  31,674
  33,588
  35,581
  37,660
  39,829
  42,092
  44,455
  46,924
  49,503
  52,200
  55,021
  57,971
Adjusted assets (=assets-cash), $m
  6,738
  7,593
  8,499
  9,454
  10,457
  11,508
  12,607
  13,753
  14,947
  16,190
  17,483
  18,826
  20,222
  21,673
  23,181
  24,748
  26,378
  28,074
  29,838
  31,674
  33,588
  35,581
  37,660
  39,829
  42,092
  44,455
  46,924
  49,503
  52,200
  55,021
  57,971
Revenue / Adjusted assets
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
  1.100
Average production assets, $m
  1,912
  2,155
  2,412
  2,683
  2,968
  3,266
  3,578
  3,903
  4,242
  4,595
  4,962
  5,343
  5,739
  6,151
  6,579
  7,024
  7,486
  7,967
  8,468
  8,989
  9,532
  10,098
  10,688
  11,303
  11,946
  12,616
  13,317
  14,049
  14,814
  15,615
  16,452
Working capital, $m
  1,021
  760
  851
  946
  1,047
  1,152
  1,262
  1,377
  1,496
  1,621
  1,750
  1,884
  2,024
  2,169
  2,320
  2,477
  2,640
  2,810
  2,987
  3,171
  3,362
  3,562
  3,770
  3,987
  4,213
  4,450
  4,697
  4,955
  5,225
  5,508
  5,803
Total debt, $m
  1,695
  2,155
  2,734
  3,344
  3,985
  4,657
  5,359
  6,091
  6,854
  7,648
  8,474
  9,333
  10,225
  11,152
  12,116
  13,117
  14,159
  15,242
  16,369
  17,543
  18,765
  20,040
  21,368
  22,754
  24,200
  25,710
  27,287
  28,936
  30,659
  32,461
  34,347
Total liabilities, $m
  4,392
  4,852
  5,431
  6,041
  6,682
  7,354
  8,056
  8,788
  9,551
  10,345
  11,171
  12,030
  12,922
  13,849
  14,813
  15,814
  16,856
  17,939
  19,066
  20,240
  21,462
  22,737
  24,065
  25,451
  26,897
  28,407
  29,984
  31,633
  33,356
  35,158
  37,044
Total equity, $m
  2,776
  2,741
  3,068
  3,413
  3,775
  4,154
  4,551
  4,965
  5,396
  5,845
  6,311
  6,796
  7,300
  7,824
  8,368
  8,934
  9,523
  10,135
  10,771
  11,434
  12,125
  12,845
  13,595
  14,378
  15,195
  16,048
  16,939
  17,871
  18,844
  19,862
  20,928
Total liabilities and equity, $m
  7,168
  7,593
  8,499
  9,454
  10,457
  11,508
  12,607
  13,753
  14,947
  16,190
  17,482
  18,826
  20,222
  21,673
  23,181
  24,748
  26,379
  28,074
  29,837
  31,674
  33,587
  35,582
  37,660
  39,829
  42,092
  44,455
  46,923
  49,504
  52,200
  55,020
  57,972
Debt-to-equity ratio
  0.611
  0.790
  0.890
  0.980
  1.060
  1.120
  1.180
  1.230
  1.270
  1.310
  1.340
  1.370
  1.400
  1.430
  1.450
  1.470
  1.490
  1.500
  1.520
  1.530
  1.550
  1.560
  1.570
  1.580
  1.590
  1.600
  1.610
  1.620
  1.630
  1.630
  1.640
Adjusted equity ratio
  0.348
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  160
  264
  299
  335
  373
  413
  454
  498
  543
  590
  639
  790
  842
  897
  954
  1,013
  1,075
  1,139
  1,205
  1,275
  1,347
  1,422
  1,501
  1,583
  1,669
  1,758
  1,851
  1,949
  2,051
  2,158
  2,269
Depreciation, amort., depletion, $m
  274
  325
  347
  371
  396
  422
  449
  477
  506
  537
  569
  465
  499
  535
  572
  611
  651
  693
  736
  782
  829
  878
  929
  983
  1,039
  1,097
  1,158
  1,222
  1,288
  1,358
  1,431
Funds from operations, $m
  276
  589
  646
  706
  769
  834
  903
  975
  1,049
  1,127
  1,208
  1,254
  1,342
  1,432
  1,526
  1,624
  1,726
  1,832
  1,942
  2,057
  2,176
  2,301
  2,430
  2,566
  2,707
  2,855
  3,009
  3,171
  3,339
  3,516
  3,700
Change in working capital, $m
  -94
  86
  91
  96
  100
  105
  110
  115
  120
  124
  129
  134
  140
  145
  151
  157
  163
  170
  177
  184
  192
  200
  208
  217
  227
  237
  247
  258
  270
  282
  295
Cash from operations, $m
  370
  504
  555
  610
  668
  729
  793
  860
  930
  1,003
  1,078
  1,120
  1,202
  1,287
  1,375
  1,467
  1,563
  1,662
  1,765
  1,873
  1,985
  2,101
  2,222
  2,349
  2,481
  2,619
  2,762
  2,912
  3,069
  3,233
  3,405
Maintenance CAPEX, $m
  0
  -166
  -187
  -210
  -233
  -258
  -284
  -311
  -339
  -369
  -400
  -431
  -465
  -499
  -535
  -572
  -611
  -651
  -693
  -736
  -782
  -829
  -878
  -929
  -983
  -1,039
  -1,097
  -1,158
  -1,222
  -1,288
  -1,358
New CAPEX, $m
  -201
  -243
  -257
  -271
  -285
  -298
  -312
  -325
  -339
  -353
  -367
  -381
  -396
  -412
  -428
  -445
  -463
  -481
  -501
  -521
  -543
  -566
  -590
  -615
  -642
  -671
  -701
  -732
  -765
  -800
  -837
Cash from investing activities, $m
  -598
  -409
  -444
  -481
  -518
  -556
  -596
  -636
  -678
  -722
  -767
  -812
  -861
  -911
  -963
  -1,017
  -1,074
  -1,132
  -1,194
  -1,257
  -1,325
  -1,395
  -1,468
  -1,544
  -1,625
  -1,710
  -1,798
  -1,890
  -1,987
  -2,088
  -2,195
Free cash flow, $m
  -228
  94
  111
  130
  150
  173
  197
  224
  252
  281
  312
  307
  341
  376
  413
  450
  489
  530
  572
  615
  660
  706
  754
  804
  856
  909
  965
  1,022
  1,082
  1,145
  1,209
Issuance/(repayment) of debt, $m
  496
  545
  579
  610
  641
  672
  702
  732
  763
  794
  826
  859
  892
  927
  964
  1,002
  1,041
  1,083
  1,127
  1,174
  1,223
  1,274
  1,328
  1,386
  1,446
  1,510
  1,577
  1,648
  1,723
  1,802
  1,885
Issuance/(repurchase) of shares, $m
  -213
  46
  28
  10
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  279
  591
  607
  620
  641
  672
  702
  732
  763
  794
  826
  859
  892
  927
  964
  1,002
  1,041
  1,083
  1,127
  1,174
  1,223
  1,274
  1,328
  1,386
  1,446
  1,510
  1,577
  1,648
  1,723
  1,802
  1,885
Total cash flow (excl. dividends), $m
  46
  685
  718
  750
  791
  845
  899
  956
  1,015
  1,075
  1,138
  1,166
  1,233
  1,303
  1,376
  1,452
  1,531
  1,613
  1,699
  1,789
  1,882
  1,980
  2,083
  2,190
  2,302
  2,419
  2,542
  2,671
  2,805
  2,947
  3,095
Retained Cash Flow (-), $m
  62
  -310
  -327
  -345
  -362
  -379
  -397
  -414
  -431
  -449
  -467
  -485
  -504
  -524
  -544
  -566
  -588
  -612
  -637
  -663
  -691
  -720
  -750
  -783
  -817
  -853
  -891
  -931
  -974
  -1,018
  -1,065
Prev. year cash balance distribution, $m
 
  345
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  720
  391
  405
  429
  465
  503
  542
  584
  626
  671
  681
  729
  779
  832
  886
  942
  1,001
  1,062
  1,126
  1,192
  1,261
  1,332
  1,407
  1,485
  1,566
  1,651
  1,739
  1,832
  1,929
  2,030
Discount rate, %
 
  5.40
  5.67
  5.95
  6.25
  6.56
  6.89
  7.24
  7.60
  7.98
  8.38
  8.80
  9.24
  9.70
  10.18
  10.69
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.04
  15.80
  16.59
  17.42
  18.29
  19.20
  20.16
  21.17
  22.23
PV of cash for distribution, $m
 
  683
  350
  340
  337
  338
  337
  333
  325
  314
  300
  269
  253
  234
  214
  193
  172
  151
  130
  110
  92
  76
  61
  48
  37
  28
  21
  15
  11
  7
  5
Current shareholders' claim on cash, %
  100
  99.1
  98.6
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems. The Company's segments are North America, South America, Europe/Middle East, and Asia/Pacific/Africa. The Company's products are marketed under various brands, including Challenger, Fendt, GSI, Massey Ferguson and Valtra. As of December 31, 2016, the Company distributed its products through over 3,000 independent dealers and distributors in more than 150 countries. In addition, the Company also provides retail and wholesale financing through its finance joint ventures with Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank). The Company's AGCO Power engines division produces diesel engines, gears and generating sets.

FINANCIAL RATIOS  of  AGCO (AGCO)

Valuation Ratios
P/E Ratio 36.3
Price to Sales 0.8
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 15.7
Price to Free Cash Flow 34.4
Growth Rates
Sales Growth Rate -0.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -4.7%
Cap. Spend. - 3 Yr. Gr. Rate -12.5%
Financial Strength
Quick Ratio 5
Current Ratio 0.2
LT Debt to Equity 58%
Total Debt to Equity 61.1%
Interest Coverage 0
Management Effectiveness
Return On Assets 2.3%
Ret/ On Assets - 3 Yr. Avg. 3.8%
Return On Total Capital 3.7%
Ret/ On T. Cap. - 3 Yr. Avg. 6.1%
Return On Equity 5.7%
Return On Equity - 3 Yr. Avg. 8.4%
Asset Turnover 1.1
Profitability Ratios
Gross Margin 20.5%
Gross Margin - 3 Yr. Avg. 20.9%
EBITDA Margin 6.5%
EBITDA Margin - 3 Yr. Avg. 7.4%
Operating Margin 3.9%
Oper. Margin - 3 Yr. Avg. 5.1%
Pre-Tax Margin 2.8%
Pre-Tax Margin - 3 Yr. Avg. 4%
Net Profit Margin 2.2%
Net Profit Margin - 3 Yr. Avg. 3.3%
Effective Tax Rate 44.9%
Eff/ Tax Rate - 3 Yr. Avg. 35.2%
Payout Ratio 26.9%

AGCO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AGCO stock intrinsic value calculation we used $7411 million for the last fiscal year's total revenue generated by AGCO. The default revenue input number comes from 2016 income statement of AGCO. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AGCO stock valuation model: a) initial revenue growth rate of 12.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.4%, whose default value for AGCO is calculated based on our internal credit rating of AGCO, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of AGCO.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AGCO stock the variable cost ratio is equal to 95.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for AGCO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for AGCO.

Corporate tax rate of 27% is the nominal tax rate for AGCO. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AGCO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AGCO are equal to 25.8%.

Life of production assets of 11.5 years is the average useful life of capital assets used in AGCO operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AGCO is equal to 9.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2776 million for AGCO - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 80.498 million for AGCO is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of AGCO at the current share price and the inputted number of shares is $5.9 billion.

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COMPANY NEWS

▶ ETFs with exposure to AGCO Corp. : December 29, 2017   [Dec-29-17 11:26AM  Capital Cube]
▶ AGCO to Host Analyst Meeting   [Dec-04-17 04:15PM  Business Wire]
▶ Stocks Showing Improved Relative Strength: AGCO   [03:00AM  Investor's Business Daily]
▶ Agco beats Street 3Q forecasts   [Oct-31-17 07:55AM  Associated Press]
▶ AGCO Reports Third Quarter Results   [07:45AM  Business Wire]
▶ AGCO Gets Relative Strength Rating Upgrade   [03:00AM  Investor's Business Daily]
▶ AGCO Announces Quarterly Dividend   [Oct-26-17 02:30PM  Business Wire]
▶ Stocks to watch as NAFTA's future remains in doubt   [Oct-18-17 05:05PM  Reuters]
▶ Bank Of America Advises Selling AGCO Shares   [Oct-13-17 12:09PM  Benzinga]
▶ New Strong Buy Stocks for October 9th   [Oct-09-17 07:48AM  Zacks]
▶ AGCO or Terex: Which Stock Should You Buy?   [Sep-14-17 05:57PM  Zacks]
▶ ETFs with exposure to AGCO Corp. : September 7, 2017   [Sep-07-17 12:13PM  Capital Cube]
▶ AGCO Corp. Value Analysis (NYSE:AGCO) : August 24, 2017   [Aug-24-17 04:37PM  Capital Cube]
▶ AGCO Announces Manufacturing Joint Venture with CP Foods   [Aug-23-17 04:30PM  Business Wire]
▶ Harvest Some Profits on AGCO   [Aug-18-17 02:49PM  TheStreet.com]
▶ Agco CEO on Agricultural-Equipment Market and Strategy   [Jul-31-17 08:31PM  Bloomberg Video]
▶ Agco tops Street 2Q forecasts   [Jul-28-17 01:24AM  Associated Press]
▶ AGCO to buy Monsanto's farm equipment business   [Jul-26-17 12:57PM  Reuters]
▶ 5 Stock Picks with Earnings Beat Potential   [Jul-21-17 03:54AM  Zacks]
▶ New Strong Buy Stocks for July 13th   [Jul-13-17 07:41AM  Zacks]
▶ AGCO Announces Quarterly Dividend   [Jul-12-17 10:00AM  Business Wire]
Financial statements of AGCO
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