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GE Vernova reported FY2025 revenue of $38.1 billion, FY2025 operating income of $1.4 billion, FY2025 operating cash flow of $5.0 billion and Q1 2026 revenue of $9.3 billion. The setup depends on grid demand, power-equipment execution, contract liabilities, margin progress and cash conversion.
Deere reported FY2025 revenue of $45.7 billion and Q1 2026 revenue of $9.6 billion. The thesis depends on farm-cycle demand, precision technology, dealer discipline, margins and financing credit quality.
AGCO is a global farm-equipment maker with Fendt, Massey Ferguson, PTx and Valtra, but the current thesis is a cycle and execution test: FY2025 sales fell 13.5%, Q1 2026 sales rebounded 14.3%, Europe carried segment profit, and PTx precision agriculture must prove it can offset weak equipment demand, tariffs and dealer-inventory risk.