DCF Tool

AGCO

AGCO Corp. – Farm Machinery and Equipment Manufacturing
welcome to the world of agco. we are a global leader in the design, manufacture and distribution of agricultural solutions. we work tirelessly to help make today's farms more productive and more profitable. as the world of agriculture changes, so do we. brazenly. we do it for the farmers. for the people working for them. for ourselves. for the future. we are leading the way.
Analysis Results
Intrinsic Value $888.75
Latest Price $120.01
Relative Value 86% undervalued
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Cash Flow (Billions)
Analysis Parameters
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Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 26.3%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.1%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 26.3%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2024 1.99 1.84
2025 2.51 2.15
2026 3.17 2.51
2027 4.01 2.94
2028 5.06 3.43
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 85.1 billion. This corresponds to a present value of 53.4 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 12.9 billion. Adding in the terminal value gives a total present value of 66.3 billion.

There are presently 74.6 million outstanding shares, so the intrinsic value per share is 888.75.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 6,340,800,000
Current Cash 595,500,000
Current Liabilities 4,343,600,000
Current Debt 15,000,000
Non-Cash Working Capital (NCWC) 1,416,700,000
Change in NCWC 358,900,000
EBIT 1,784,600,000
Tax Provision 230,400,000
Depreciation and Amortization 288,100,000
Capital Expenditure -518,100,000
Unlevered Free Cash Flow 1,620,162,024
Current Assets 5,739,300,000
Current Cash 789,500,000
Current Liabilities 4,088,000,000
Current Debt 196,000,000
Non-Cash Working Capital (NCWC) 1,057,800,000
Change in NCWC 294,500,000
EBIT 1,371,600,000
Tax Provision 296,600,000
Depreciation and Amortization 269,600,000
Capital Expenditure -388,300,000
Unlevered Free Cash Flow 1,200,079,450
Current Assets 5,014,100,000
Current Cash 889,100,000
Current Liabilities 3,454,600,000
Current Debt 92,900,000
Non-Cash Working Capital (NCWC) 763,300,000
Change in NCWC 517,100,000
EBIT 1,082,300,000
Tax Provision 108,400,000
Depreciation and Amortization 281,800,000
Capital Expenditure -269,800,000
Unlevered Free Cash Flow 1,495,228,775
Current Assets 4,368,400,000
Current Cash 1,119,100,000
Current Liabilities 3,362,800,000
Current Debt 359,700,000
Non-Cash Working Capital (NCWC) 246,200,000
Change in NCWC -319,000,000
EBIT 684,900,000
Tax Provision 187,700,000
Depreciation and Amortization 272,000,000
Capital Expenditure -269,900,000
Unlevered Free Cash Flow 156,385,629
Current Assets 3,729,100,000
Current Cash 432,800,000
Current Liabilities 2,884,500,000
Current Debt 153,400,000
Non-Cash Working Capital (NCWC) 565,200,000
Change in NCWC -63,600,000
EBIT 576,200,000
Tax Provision 180,800,000
Depreciation and Amortization 272,000,000
Capital Expenditure -273,400,000
Unlevered Free Cash Flow 168,061,133
Current Assets 3,537,400,000
Current Cash 326,100,000
Current Liabilities 2,766,700,000
Current Debt 184,200,000
Non-Cash Working Capital (NCWC) 628,800,000
Change in NCWC -76,000,000
EBIT 535,300,000
Tax Provision 110,900,000
Depreciation and Amortization 289,900,000
Capital Expenditure -203,300,000
Unlevered Free Cash Flow 395,457,095
Current Assets 3,627,700,000
Current Cash 367,700,000
Current Liabilities 2,650,600,000
Current Debt 95,400,000
Non-Cash Working Capital (NCWC) 704,800,000
Change in NCWC 28,300,000
EBIT 453,600,000
Tax Provision 133,600,000
Depreciation and Amortization 279,800,000
Capital Expenditure -203,900,000
Unlevered Free Cash Flow 370,122,824
Current Assets 3,165,700,000
Current Cash 429,700,000
Current Liabilities 2,144,900,000
Current Debt 85,400,000
Non-Cash Working Capital (NCWC) 676,500,000
Change in NCWC 84,100,000
EBIT 347,800,000
Tax Provision 92,200,000
Depreciation and Amortization 274,600,000
Capital Expenditure -201,000,000
Unlevered Free Cash Flow 378,451,030
Current Assets 2,898,300,000
Current Cash 426,700,000
Current Liabilities 2,185,400,000
Current Debt 306,200,000
Non-Cash Working Capital (NCWC) 592,400,000
Change in NCWC -449,200,000
EBIT 440,500,000
Tax Provision 72,500,000
Depreciation and Amortization 260,100,000
Capital Expenditure -211,400,000
Unlevered Free Cash Flow -54,907,132
Current Assets 3,527,900,000
Current Cash 363,700,000
Current Liabilities 2,216,900,000
Current Debt 94,300,000
Non-Cash Working Capital (NCWC) 1,041,600,000
Change in NCWC 72,000,000
EBIT 745,800,000
Tax Provision 187,700,000
Depreciation and Amortization 280,400,000
Capital Expenditure -301,500,000
Unlevered Free Cash Flow 560,196,097
Current Assets 4,517,100,000
Current Cash 1,047,200,000
Current Liabilities 2,812,000,000
Current Debt 311,700,000
Non-Cash Working Capital (NCWC) 969,600,000
Change in NCWC 9,800,000
EBIT 948,900,000
Tax Provision 258,500,000
Depreciation and Amortization 259,400,000
Capital Expenditure -391,800,000
Unlevered Free Cash Flow 537,994,111
Current Assets 3,954,700,000
Current Cash 781,300,000
Current Liabilities 2,464,800,000
Current Debt 251,200,000
Non-Cash Working Capital (NCWC) 959,800,000
Change in NCWC 166,800,000
EBIT 769,100,000
Tax Provision 137,900,000
Depreciation and Amortization 229,900,000
Capital Expenditure -340,500,000
Unlevered Free Cash Flow 663,204,799

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