AGCO makes and sells agricultural machinery and precision agriculture technology to farmers worldwide. Tractors are the core product, spanning from compact units under 40 horsepower up to large-scale row crop machines above 140 horsepower, and account for roughly two-thirds of sales. AGCO also sells combines, hay and forage equipment, planters, sprayers, and implements. AGCO sells under four main brands: Fendt, a premium, technology-forward brand for high-performance farming; Massey Ferguson and Valtra, volume-oriented brands serving broader farm sizes across Europe and South America; and PTx, its precision agriculture brand. AGCO sells through roughly 2,800 independent dealers across about 140 countries, with dealer financing supported through AGCO Finance, a joint venture with Rabobank. Geographically, EMEA is the largest region at roughly 55–64% of sales, followed by North America at 17–26% and South America at 11–16%. Replacement parts, which represent roughly 16–19% of sales, are a high-margin, recurring revenue stream that holds up better through cycles. PTx, AGCO's precision ag business, combines Precision Planting and the PTx Trimble joint venture, offering planting technology, targeted spray systems, guidance and autonomy tools, and a mixed-fleet farm management platform. PTx uses a retrofit-first, brand-agnostic approach — its products work on any manufacturer's equipment. AGCO's long-term growth strategy targets Fendt globalization, PTx expansion to $2B in revenues by 2029, and parts growth to $2.3B, alongside a company-wide restructuring program targeting $175–200M in cost reductions.