Short answer
Agco Corp (AGCO) filed its fiscal 2017 10-K annual report with the SEC on Feb 28, 2018. It reported revenue of $8.3B (+12.1% year over year) and net income of $186M.
- Top risk flagged: GDPR enforcement beginning May 2018, with broader personal-data protections and greater noncompliance penalties
FY2017 key financial metrics · XBRL
- Revenue
- $8.3B
- +12.1% YoY
- Net income
- $186M
- +16.4% YoY
- Operating margin
- 4.9%
- +1.0 pp YoY
- Gross margin
- 21.3%
- +0.8 pp YoY
- EPS (diluted)
- $2.32
- +18.4% YoY
- ROE
- 6.2%
- +0.4 pp YoY
- Operating cash flow
- $578M
- +56.3% YoY
Source: XBRL data from the Agco Corp (AGCO) FY2017 10-K on SEC EDGAR. USD.
Agco Corp FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Global agricultural equipment manufacturer, selling full-line machinery, replacement parts and financing through 4,200 dealers across 150 countries
- Precision farming technologies emphasized, including satellite steering, field data collection, yield mapping and telemetry fleet management
- Manufacturing footprint: 51 locations worldwide, including seven joint ventures, supporting localized production and cost optimization
- Approximately 20,500 employees as of December 31, 2017, including 4,500 in the United States and Canada
- AGCO Power engines spanning 75 to 600 horsepower, also sold to third parties, with compliance across European, Brazilian and U.S. emissions standards
Management Discussion & Analysis
- Revenue $8,306.5M, up 12.1% YoY from $7,410.5M, driven by regional growth, acquisitions and currency translation
- Gross margin 21.3% vs 20.5%; operating margin 4.9% vs 3.9%; operating income $403.3M vs $288.4M
- Best region EME, sales $4,614.3M and operating income up $90.6M; worst South America, operating income down $5.4M
- Operating cash flow $577.6M; finance joint-venture dividends $78.5M; 2017 ASR proceeds 70,464 shares, no capex amount disclosed
- 2018 outlook: sales expected higher with stable industry demand; risks include farm income, commodity prices, weather, financing and currency swings
Risk Factors
- GDPR enforcement beginning May 2018, with broader personal-data protections and greater noncompliance penalties
- Brexit uncertainty, including potential U.K.-E.U. trade restrictions, regulatory complexity, and currency volatility
- Rabobank-dependent AGCO Finance joint ventures finance approximately 40% of tractor and combine retail sales
- Deere & Company and CNH Industrial, substantially larger competitors with greater financial and other resources
- Substantial indebtedness, with debt-to-EBITDA and interest-coverage covenants and acceleration upon default
Generated from the filing text; verify against the original. How to read a 10-K
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