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Agco cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$33.8M in Q3 2026 · $294M over twelve months

Operating cash flow$26.6M
Capital spending−$60.4M
Free cash flow−$33.8M
Cash / net income0.5×

Analysis

In Q3 2026, Agco generated $26.6M of operating cash flow and spent $60.4M on capital projects, leaving free cash flow of −$33.8M. That is $35.9M less than in Q3 2025 ($2.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was $545M; the largest uses were buybacks ($654M), capital spending ($251M), net borrowing (+) / repaid (−) ($128M); besides operations, cash came from other investing ($106M), asset & business sales ($11.1M); the cash balance fell by $469M.

Operating cash flow was $26.6M against net income of $50.0M — 0.5× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$82.2M, accrued liabilities −$68.8M, deferred taxes −$32.0M.

Free cash flow

Agco: free cash flow by quarterAgco: free cash flow by quarter$684MQ4 2024−$260MQ1 2025$324MQ2 2025$2.1MQ3 2025$675MQ4 2025−$455MQ1 2026$108MQ2 2026−$33.8MQ3 2026
Operating cash flow less capital spending.
Agco: operating cash flow against capital spendingAgco: operating cash flow against capital spendingOperating cash flowCapital spending$798M$114MQ4 2024−$212M$48.2MQ1 2025$366M$42.2MQ2 2025$71.0M$68.9MQ3 2025$764M$88.6MQ4 2025−$410M$44.6MQ1 2026$165M$57.2MQ2 2026$26.6M$60.4MQ3 2026
Latest (Q3 2026): Operating cash flow $26.6M, Capital spending $60.4M.

Capital allocation, year by year

Agco: where the cash came from (up) and went (down), by fiscal yearAgco: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $660MFY2021: Net borrowing −$6.4MFY2021: Asset sales $6.3MFY2021: Capital spending −$270MFY2021: Acquisitions −$22.6MFY2021: Buybacks −$135MFY2021: Dividends −$358M$666MFY2021FY2022: Operating cash flow $838MFY2022: Net borrowing $410MFY2022: Asset sales $2.6MFY2022: Capital spending −$388MFY2022: Acquisitions −$111MFY2022: Dividends −$404M$1.3BFY2022FY2023: Operating cash flow $1.1BFY2023: Net borrowing −$130MFY2023: Asset sales $11.8MFY2023: Capital spending −$518MFY2023: Acquisitions −$9.8MFY2023: Buybacks −$53.0MFY2023: Dividends −$457M$1.1BFY2023FY2024: Operating cash flow $690MFY2024: Net borrowing $1.4BFY2024: Asset sales $633MFY2024: Capital spending −$393MFY2024: Acquisitions −$1.9BFY2024: Buybacks −$22.0MFY2024: Dividends −$273M$2.7BFY2024FY2025: Operating cash flow $988MFY2025: Net borrowing −$380MFY2025: Asset sales $200KFY2025: Capital spending −$248MFY2025: Buybacks −$250MFY2025: Dividends −$86.5M$988MFY2025
Over these 5 years operating cash flow totalled $4.3B; the largest uses were acquisitions ($2.0B) and capital spending ($1.8B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$415M
Debt$2.6B
Net debt$2.2B

Agco funds itself: free cash flow was $294M over the last twelve months, and $415M of cash and investments stands against $2.6B of debt.

Agco: debt maturities by year (FY2025)Agco: debt maturities by year (FY2025)$397MYear 2$739MYear 3$293MYear 4$199MYear 5$695MAfter year 5
Principal due in each year as disclosed in the annual report, against $415M of cash and investments now.

Where the cash came from and went

Agco: sources (+) and uses (−) of cash, Q3 2026Agco: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$158MCapital spending−$60.4MBuybacks−$56.7MNet borrowing (+) / repaid (−)−$44.9MOperating cash flow$26.6MDividends−$20.7MExchange rates−$1.0MTaxes on employees’ shares−$700KOther investing−$500K
Agco: sources (+) and uses (−) of cash, TTM to Q3 2026Agco: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$654MOperating cash flow$545MCash drawn (+) / kept (−)$469MCapital spending−$251MNet borrowing (+) / repaid (−)−$128MOther investing$106MDividends−$84.3MAsset & business sales$11.1MTaxes on employees’ shares−$9.3MExchange rates−$5.4M

From profit to cash

Agco: net income to operating cash flow, Q3 2026Agco: net income to operating cash flow, Q3 2026Net income$50.0MDepreciation & amortization$82.2MStock-based pay$6.7MDeferred taxes−$32.0MOther non-cash$17.5MInventory−$3.6MPayables−$11.8MAccrued liabilities−$68.8MPrepaid and other assets−$24.1MOther liabilities$21.2MOperating cash flow$26.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$26.6M−$60.4M—−$56.7M−$20.7M−$44.9M$158M−$33.8M
Q2 2026$165M−$57.2M——−$21.0M$165M−$58.5M$108M
Q1 2026−$410M−$44.6M——−$21.0M$156M$347M−$455M
Q4 2025$764M−$88.6M—−$250M−$21.6M−$403M$22.3M$675M
Q3 2025$71.0M−$68.9M——−$21.6M−$127M−$100M$2.1M
Q2 2025$366M−$42.2M——−$21.7M−$83.7M−$221M$324M
Q1 2025−$212M−$48.2M——−$21.6M$234M$50.1M−$260M
Q4 2024$798M−$114M−$1.5M—−$21.6M−$1.3B$29.9M$684M

Agco: income statement and cash flow

Agco, Q3 2026: revenue $2.3B (-9% year over year), operating margin 5.1%. The chart follows the revenue to costs, profit and cash.

Agco: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.