20-quarter listed-company comparison

Farm & Heavy Construction Machinery Stocks

Farm & Heavy Construction Machinery: Caterpillar Inc. owns the largest revenue base; Aebi Schmidt Holding AG has the fastest current growth.

The industry itself · before any single company

How has Farm & Heavy Construction Machinery moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 4% ahead of S&P 500. Earnings across its companies fell 22% on average over the last four reported quarters.

TURNING · ahead 2w⚠Moving with the index7 of 19 companies ahead of S&P 500 by 5% or more over three months1 is 20% or more behind over a year while earnings grew 20% or more

RS ↑2w · 14/19 >200d (+0) · 7/19 lead (+2) · EPS 4/19↑

Farm & Heavy Construction Machinery, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy MixedHow much of the industry is participating, how recently, and whether the movers score well.

Together7 of 19 stocks moving

Fresh4 crossed in the last 4 weeks

Backed by scoresmovers score +5 vs the industry average

Down the cap ladder — bar is now, tick is four weeks ago

Large 2/4+1

Mid 2/70

Small 3/8+1

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 19 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Farm & Heavy Construction Machinery outperforming S&P 500?

Farm & Heavy Construction Machinery has underperformed S&P 500 by 4.6% over the last 52 weeks. Over 13 weeks the gap is a lead of 4.5%. 11 of 20 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Wabash National Corporation is the strongest against the sector itself at +23.5%.

+4.5%Sector vs S&P 500 · 13 weeks

-4.6%Sector vs S&P 500 · 52 weeks

11/20Stocks leading S&P 500

8/20Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Farm & Heavy Construction Machinery has underperformed S&P 500 by 4.6% over 52 weeks and 4.5% over 13 weeks. 11 of 20 covered companies beat the S&P 500 on Mansfield relative strength, while 8 of 20 beat the sector itself. Caterpillar Inc. leads with revenue of $70,755 million, based on 20 of 21 comparable companies through Mar 2026.

Is the Farm & Heavy Construction Machinery sector outperforming S&P 500?

Which Farm & Heavy Construction Machinery company is largest by revenue?

Caterpillar Inc. leads with revenue of $70,755 million, based on 20 of 21 comparable companies through Mar 2026.

Which Farm & Heavy Construction Machinery company is growing fastest?

Aebi Schmidt Holding AG has the fastest current revenue growth at 61.2%, across 19 of 21 comparable companies.

Which Farm & Heavy Construction Machinery company has the strongest 4-Factor Sector Score?

Blue Bird Corporation ranks first at 67/100 with 82% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Farm & Heavy Construction Machinery company reports the most CAPEX?

Deere & Company reports the largest latest CAPEX at $1,058 million, with 20 of 21 companies comparable.

Which Farm & Heavy Construction Machinery company has the least gross debt?

Gencor Industries, Inc. has the lowest comparable gross debt at $0 million. Deere & Company has the highest at $63,822 million.

Which Farm & Heavy Construction Machinery company has the lowest comparable PEG?

The Manitowoc Company, Inc. has the lowest comparable Guarded PEG at 0.14, among 14 of 21 companies that pass the metric’s comparability rules.

How much history does this Farm & Heavy Construction Machinery comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

$691.4B

Caterpillar Inc.

Revenue growing

10/19

positive TTM year-on-year growth

Beating S&P 500

11/20

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Blue Bird Corporation has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 82% evidence confidence.

Terex Corporation looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.

Deere & Company has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Blue Bird Corporation · BLBD

67.0/100 · Favorable setup · 82% evidence

Exact sum: 20.7 + 15.6 + 15.4 + 15.3 = 67

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.7/35Growth & earnings

Revenue 10.1% · PAT 21.1% · OPM change 1.7 pp

83% evidence

15.6/25Capital efficiency

ROCE 10.4% · debt/equity 0.29×

80% evidence

15.4/20Valuation

P/E 13.5× · PEG 0.52

65% evidence

15.3/20Relative strength

RS sector 12.5% · RS bench 15.8% · 1Y 70.5%

100% evidence

2. Federal Signal Corporation · FSS

61.5/100 · Mixed-positive evidence · 82% evidence

Exact sum: 28.8 + 16.3 + 12.7 + 3.7 = 61.5

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -8.1% and the one-year return is -3.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

28.8/35Growth & earnings

Revenue 23.3% · PAT 28% · OPM change 1.7 pp

83% evidence

16.3/25Capital efficiency

ROCE 5.3% · debt/equity 0.41×

80% evidence

12.7/20Valuation

P/E 24.6× · PEG 0.86

65% evidence

3.7/20Relative strength

RS sector -8.1% · RS bench -5.6% · 1Y -3.9%

100% evidence

3. Deere & Company · DE

57.1/100 · Mixed-positive evidence · 86% evidence

Exact sum: 16.7 + 12.7 + 11.2 + 16.5 = 57.1

Decision use: Price leads the evidence: RS versus the benchmark is 11.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

16.7/35Growth & earnings

Revenue 4% · PAT -15.7% · OPM change -2 pp

95% evidence

12.7/25Capital efficiency

ROCE 4.3% · debt/equity 2.33×

80% evidence

11.2/20Valuation

P/E 32.7× · PEG 1.03

65% evidence

16.5/20Relative strength

RS sector 8.8% · RS bench 11.7% · 1Y 27.7%

100% evidence

4. Caterpillar Inc. · CAT

56.7/100 · Mixed-positive evidence · 82% evidence

Exact sum: 22.6 + 13.2 + 7.7 + 13.2 = 56.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.6/35Growth & earnings

Revenue 11.8% · PAT -5.8% · OPM change -0.4 pp

83% evidence

13.2/25Capital efficiency

ROCE 5.5% · debt/equity 2.31×

80% evidence

7.7/20Valuation

P/E 35.3× · PEG 1.72

65% evidence

13.2/20Relative strength

RS sector 12.2% · RS bench 15.9% · 1Y 96.1%

100% evidence

5. The Manitowoc Company, Inc. · MTW

56.3/100 · Mixed-positive evidence · 69% evidence

Exact sum: 18.6 + 8.6 + 14 + 15.1 = 56.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.6/35Growth & earnings

Revenue 5.2% · PAT -82.6% · OPM change -0.5 pp

62% evidence

8.6/25Capital efficiency

ROCE 0.2% · debt/equity 0.73×

80% evidence

14.0/20Valuation

P/E 58.3× · PEG 0.14

65% evidence

15.1/20Relative strength

RS sector 9.5% · RS bench 12.4% · 1Y 21.7%

70% evidence

6. PACCAR Inc · PCAR

53.8/100 · Mixed-positive evidence · 82% evidence

Exact sum: 13.1 + 13.2 + 9.4 + 18.1 = 53.8

Decision use: Price leads the evidence: RS versus the benchmark is 14.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

13.1/35Growth & earnings

Revenue -14.2% · PAT -28.7% · OPM change -1.9 pp

83% evidence

13.2/25Capital efficiency

ROCE 2.1% · debt/equity 0.76×

80% evidence

9.4/20Valuation

P/E 24.6× · PEG 1.48

65% evidence

18.1/20Relative strength

RS sector 11.2% · RS bench 14.2% · 1Y 43.3%

100% evidence

7. AGCO Corporation · AGCO

51.9/100 · Mixed-positive evidence · 75% evidence

Exact sum: 19.5 + 7.3 + 15.3 + 9.8 = 51.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.5/35Growth & earnings

Revenue -3.8% · PAT — · OPM change 1 pp

62% evidence

7.3/25Capital efficiency

ROCE 1% · debt/equity 9.09×

80% evidence

15.3/20Valuation

P/E 11.2× · PEG 0.58

65% evidence

9.8/20Relative strength

RS sector -1.5% · RS bench 1% · 1Y 8.9%

100% evidence

8. Terex Corporation · TEX

49.6/100 · Mixed-negative evidence · 82% evidence

Exact sum: 12.3 + 9.7 + 13.5 + 14.1 = 49.6

Decision use: Price leads the evidence: RS versus the benchmark is 10.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

12.3/35Growth & earnings

Revenue 17% · PAT -40.1% · OPM change -10.3 pp

83% evidence

9.7/25Capital efficiency

ROCE -1.2% · debt/equity 0.57×

80% evidence

13.5/20Valuation

P/E 28.3× · PEG 0.65

65% evidence

14.1/20Relative strength

RS sector 8.1% · RS bench 10.9% · 1Y 40.2%

100% evidence

9. Oshkosh Corporation · OSK

49.1/100 · Mixed-negative evidence · 82% evidence

Exact sum: 14 + 13.6 + 14.3 + 7.2 = 49.1

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

14.0/35Growth & earnings

Revenue -0.7% · PAT -7.2% · OPM change -4.1 pp

83% evidence

13.6/25Capital efficiency

ROCE 1.2% · debt/equity 0.26×

80% evidence

14.3/20Valuation

P/E 16.4× · PEG 0.66

65% evidence

7.2/20Relative strength

RS sector -1.7% · RS bench 0.6% · 1Y 16.8%

100% evidence

10. Astec Industries, Inc. · ASTE

48.7/100 · Mixed-negative evidence · 76% evidence

Exact sum: 18.9 + 9.6 + 11 + 9.2 = 48.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.9/35Growth & earnings

Revenue 11.5% · PAT 73.3% · OPM change -3.9 pp

83% evidence

9.6/25Capital efficiency

ROCE 1% · debt/equity 0.58×

80% evidence

11.0/20Valuation

P/E 48.1× · PEG 1.01

65% evidence

9.2/20Relative strength

RS sector -2.1% · RS bench 0.5% · 1Y 44.8%

70% evidence

11. Alamo Group Inc. · ALG

47.3/100 · Mixed-negative evidence · 82% evidence

Exact sum: 17.1 + 15.9 + 10.3 + 4 = 47.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.1/35Growth & earnings

Revenue 2.3% · PAT -12.2% · OPM change -1.3 pp

83% evidence

15.9/25Capital efficiency

ROCE 3% · debt/equity 0.25×

80% evidence

10.3/20Valuation

P/E 19.7× · PEG 1.36

65% evidence

4.0/20Relative strength

RS sector -16.9% · RS bench -15.1% · 1Y -23.8%

100% evidence

12. CNH Industrial N.V. · CNH

46.6/100 · Mixed-negative evidence · 82% evidence

Exact sum: 12.9 + 8.8 + 14 + 10.9 = 46.6

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

12.9/35Growth & earnings

Revenue -4% · PAT -62.5% · OPM change -3.8 pp

83% evidence

8.8/25Capital efficiency

ROCE 1% · debt/equity 3.32×

80% evidence

14.0/20Valuation

P/E 35.5× · PEG 0.46

65% evidence

10.9/20Relative strength

RS sector -3.6% · RS bench -1.3% · 1Y -8.3%

100% evidence

13. Aebi Schmidt Holding AG · AEBI

46.1/100 · Mixed-negative evidence · 66% evidence

Exact sum: 14.7 + 10.7 + 8.8 + 11.9 = 46.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

14.7/35Growth & earnings

Revenue 61.2% · PAT -60.9% · OPM change -2.4 pp

83% evidence

10.7/25Capital efficiency

ROCE 1.3% · debt/equity 0.97×

80% evidence

8.8/20Valuation

P/E 80.9× · PEG —

15% evidence

11.9/20Relative strength

RS sector 0.5% · RS bench 3% · 1Y 41.5%

70% evidence

14. Gencor Industries, Inc. · GENC

44.5/100 · Mixed-negative evidence · 76% evidence

Exact sum: 12.3 + 14.8 + 10.9 + 6.5 = 44.5

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

12.3/35Growth & earnings

Revenue -10.3% · PAT -7.1% · OPM change -4.5 pp

83% evidence

14.8/25Capital efficiency

ROCE 2% · debt/equity 0×

80% evidence

10.9/20Valuation

P/E 17× · PEG 1.32

65% evidence

6.5/20Relative strength

RS sector -6.3% · RS bench -3.9% · 1Y 6.7%

70% evidence

15. Wabash National Corporation · WNC

41.5/100 · Thin evidence · provisional · 59% evidence

Exact sum: 7.9 + 5.3 + 11.3 + 17 = 41.5

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

7.9/35Growth & earnings

Revenue -19.2% · PAT — · OPM change -99.9 pp

62% evidence

5.3/25Capital efficiency

ROCE -5.6% · debt/equity 1.55×

80% evidence

11.3/20Valuation

P/E 1.7× · PEG —

15% evidence

17.0/20Relative strength

RS sector 23.5% · RS bench 26.1% · 1Y 39.2%

70% evidence

16. Lindsay Corporation · LNN

39.6/100 · Mixed-negative evidence · 80% evidence

Exact sum: 12.8 + 15.5 + 7.3 + 4 = 39.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

12.8/35Growth & earnings

Revenue -7.1% · PAT -27.3% · OPM change -2.5 pp

95% evidence

15.5/25Capital efficiency

ROCE 2.7% · debt/equity 0.27×

80% evidence

7.3/20Valuation

P/E 21× · PEG 2.04

65% evidence

4.0/20Relative strength

RS sector -14.6% · RS bench -12.5% · 1Y -13.7%

70% evidence

17. Columbus McKinnon Corporation · CMCO

34.1/100 · Thin evidence · provisional · 59% evidence

Exact sum: 14.3 + 5.7 + 8.7 + 5.4 = 34.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

14.3/35Growth & earnings

Revenue 24% · PAT — · OPM change -37 pp

62% evidence

5.7/25Capital efficiency

ROCE -5.4% · debt/equity 1.65×

80% evidence

8.7/20Valuation

P/E 82.1× · PEG —

15% evidence

5.4/20Relative strength

RS sector -8.2% · RS bench -5.9% · 1Y 14.9%

70% evidence

18. Titan International, Inc. · TWI

33.8/100 · Thin evidence · provisional · 59% evidence

Exact sum: 11.5 + 6.7 + 10.7 + 4.9 = 33.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

11.5/35Growth & earnings

Revenue -0.7% · PAT — · OPM change -5.1 pp

62% evidence

6.7/25Capital efficiency

ROCE -1.1% · debt/equity 1.46×

80% evidence

10.7/20Valuation

P/E 16.8× · PEG —

15% evidence

4.9/20Relative strength

RS sector -8.5% · RS bench -6.4% · 1Y -2.8%

70% evidence

19. CEA Industries Inc. · BNC

32.1/100 · Thin evidence · provisional · 53% evidence

Exact sum: 9.6 + 8 + 11.5 + 3 = 32.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

9.6/35Growth & earnings

Revenue — · PAT — · OPM change -2254.1 pp

45% evidence

8.0/25Capital efficiency

ROCE -43.5% · debt/equity 0.01×

80% evidence

11.5/20Valuation

P/E 1.2× · PEG —

15% evidence

3.0/20Relative strength

RS sector -61% · RS bench -60.8% · 1Y -86.6%

70% evidence

20. Hyster-Yale, Inc. · HY

24.0/100 · Adverse evidence · 66% evidence

Exact sum: 5 + 6.1 + 8.5 + 4.4 = 24

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

5.0/35Growth & earnings

Revenue -12.2% · PAT -175.7% · OPM change -5.8 pp

83% evidence

6.1/25Capital efficiency

ROCE -2.8% · debt/equity 1.13×

80% evidence

8.5/20Valuation

P/E 263.3× · PEG —

15% evidence

4.4/20Relative strength

RS sector -10.5% · RS bench -8.2% · 1Y -14.7%

70% evidence

21. SunScout Holding Limited · SNSC

54.3/100 · Thin evidence · provisional · 9% evidence

Exact sum: 17.5 + 16.8 + 10 + 10 = 54.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.5/35Growth & earnings

Revenue — · PAT — · OPM change —

0% evidence

16.8/25Capital efficiency

ROCE 30.5% · debt/equity —

34% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Caterpillar Inc. has the highest Revenue among the 21 Farm & Heavy Construction Machinery companies compared here, at $70,755 million. Deere & Company is next at $47,392 million. Aebi Schmidt Holding AG has the highest Revenue growth at 61.2%, so level and change sit with different companies. 20 of 21 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Caterpillar Inc. is the scale leader at $70,755 million, 49.3% ahead of Deere & Company. Aebi Schmidt Holding AG's growth is 61.2% from a $1,733 million base, with 9 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderCaterpillar Inc. · $70,755 million

Gap49.3% versus #2 · Deere & Company

Persistence3/8 recent comparable periods

Coverage20/21 companies · 369 observations

Investor read: Caterpillar Inc. is the scale benchmark; Aebi Schmidt Holding AG is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Caterpillar Inc.'s growth falls below Aebi Schmidt Holding AG's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Caterpillar Inc. CAT$70.8B

2Deere & Company DE$47.4B

3PACCAR Inc PCAR$27.8B

4CNH Industrial N.V. CNH$18.1B

5Oshkosh Corporation OSK$10.4B

Revenue growthfastest growers

1Aebi Schmidt Holding AG AEBI61%

2Columbus McKinnon Corporation CMCO24%

3Federal Signal Corporation FSS23%

4Terex Corporation TEX17%

5Caterpillar Inc. CAT12%

Revenue · company comparison

20/21 level · 19/21 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
Caterpillar Inc. CAT	$17.4B	22%	Mar 2026
Deere & Company DE	$13.4B	4.8%	Jun 2026
PACCAR Inc PCAR	$6.8B	-8.9%	Mar 2026
CNH Industrial N.V. CNH	$3.8B	-0.1%	Mar 2026
AGCO Corporation AGCO	$2.3B	14%	Mar 2026
Oshkosh Corporation OSK	$2.3B	0.2%	Mar 2026
Terex Corporation TEX	$1.7B	41%	Mar 2026
Hyster-Yale, Inc. HY	$795M	-13%	Mar 2026
Federal Signal Corporation FSS	$626M	35%	Mar 2026
Titan International, Inc. TWI	$505M	2.9%	Mar 2026
The Manitowoc Company, Inc. MTW	$495M	5.1%	Mar 2026
Aebi Schmidt Holding AG AEBI	$456M	83%	Mar 2026
Columbus McKinnon Corporation CMCO	$438M	77%	Mar 2026
Alamo Group Inc. ALG	$417M	6.7%	Mar 2026
Astec Industries, Inc. ASTE	$396M	20%	Mar 2026
Blue Bird Corporation BLBD	$353M	-1.7%	Mar 2026
Wabash National Corporation WNC	$303M	-20%	Mar 2026
Lindsay Corporation LNN	$161M	-4.7%	Jun 2026
Gencor Industries, Inc. GENC	$34M	-11%	Mar 2026
CEA Industries Inc. BNC	$7M	0.0%	Jun 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 2021$2.7B

Dec 2021$3.2B

Mar 2022$2.7B

Jun 2022$2.9B

Sep 2022$3.1B

Dec 2022$3.9B

Mar 2023$3.3B

Jun 2023$3.8B

Sep 2023$3.5B

Dec 2023$3.8B

Mar 2024$2.9B

Jun 2024$3.2B

Sep 2024$2.6B

Dec 2024$2.9B

Mar 2025$2.1B

Jun 2025$2.6B

Sep 2025$2.5B

Dec 2025$2.9B

Mar 2026$2.3B

Jun 2026—

Alamo Group Inc. · ALG

Sep 2021$338M

Dec 2021$337M

Mar 2022$362M

Jun 2022$396M

Sep 2022$369M

Dec 2022$387M

Mar 2023$412M

Jun 2023$441M

Sep 2023$420M

Dec 2023$418M

Mar 2024$426M

Jun 2024$416M

Sep 2024$401M

Dec 2024$385M

Mar 2025$391M

Jun 2025$419M

Sep 2025$420M

Dec 2025$374M

Mar 2026$417M

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 2021$267M

Dec 2021$267M

Mar 2022$291M

Jun 2022$318M

Sep 2022$315M

Dec 2022$350M

Mar 2023$348M

Jun 2023$350M

Sep 2023$303M

Dec 2023$337M

Mar 2024$309M

Jun 2024$346M

Sep 2024$291M

Dec 2024$359M

Mar 2025$329M

Jun 2025$330M

Sep 2025$350M

Dec 2025$401M

Mar 2026$396M

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021$197M

Dec 2021$192M

Mar 2022$129M

Jun 2022$208M

Sep 2022$206M

Dec 2022$258M

Mar 2023—

Jun 2023$300M

Sep 2023$294M

Dec 2023$318M

Mar 2024$346M

Jun 2024$333M

Sep 2024$350M

Dec 2024$314M

Mar 2025$359M

Jun 2025$398M

Sep 2025$409M

Dec 2025$333M

Mar 2026$353M

Jun 2026—

Caterpillar Inc. · CAT

Sep 2021$12.4B

Dec 2021$13.8B

Mar 2022$13.6B

Jun 2022$14.2B

Sep 2022$15.0B

Dec 2022$16.6B

Mar 2023$15.9B

Jun 2023$17.3B

Sep 2023$16.8B

Dec 2023$17.1B

Mar 2024$15.8B

Jun 2024$16.7B

Sep 2024$16.1B

Dec 2024$16.2B

Mar 2025$14.2B

Jun 2025$16.6B

Sep 2025$17.6B

Dec 2025$19.1B

Mar 2026$17.4B

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021$4.7B

Dec 2021$5.5B

Mar 2022$4.6B

Jun 2022$6.1B

Sep 2022$5.9B

Dec 2022$6.9B

Mar 2023$5.3B

Jun 2023$6.6B

Sep 2023$6.0B

Dec 2023$6.8B

Mar 2024$4.8B

Jun 2024$5.5B

Sep 2024$4.7B

Dec 2024$4.9B

Mar 2025$3.8B

Jun 2025$4.7B

Sep 2025$4.4B

Dec 2025$5.2B

Mar 2026$3.8B

Jun 2026—

Deere & Company · DE

Sep 2021$11.5B

Dec 2021$11.3B

Mar 2022$9.6B

Jun 2022$13.4B

Sep 2022$14.1B

Dec 2022$15.5B

Mar 2023$12.7B

Jun 2023$17.4B

Sep 2023$15.8B

Dec 2023$15.4B

Mar 2024$12.2B

Jun 2024$15.2B

Sep 2024$13.2B

Dec 2024$11.1B

Mar 2025$8.5B

Jun 2025$12.8B

Sep 2025$12.0B

Dec 2025$12.4B

Mar 2026$9.6B

Jun 2026$13.4B

Federal Signal Corporation · FSS

Sep 2021$298M

Dec 2021$301M

Mar 2022$330M

Jun 2022$367M

Sep 2022$346M

Dec 2022$392M

Mar 2023$386M

Jun 2023$442M

Sep 2023$446M

Dec 2023$448M

Mar 2024$425M

Jun 2024$490M

Sep 2024$474M

Dec 2024$472M

Mar 2025$464M

Jun 2025$565M

Sep 2025$555M

Dec 2025$597M

Mar 2026$626M

Jun 2026—

Lindsay Corporation · LNN

Sep 2021$154M

Dec 2021$166M

Mar 2022$200M

Jun 2022$214M

Sep 2022$190M

Dec 2022$176M

Mar 2023$166M

Jun 2023$165M

Sep 2023$167M

Dec 2023$161M

Mar 2024$152M

Jun 2024$139M

Sep 2024$155M

Dec 2024$166M

Mar 2025$187M

Jun 2025$169M

Sep 2025$154M

Dec 2025$156M

Mar 2026$158M

Jun 2026$161M

Oshkosh Corporation · OSK

Sep 2021$2.1B

Dec 2021$1.8B

Mar 2022$1.9B

Jun 2022$2.1B

Sep 2022$2.1B

Dec 2022$2.2B

Mar 2023$2.3B

Jun 2023$2.4B

Sep 2023$2.5B

Dec 2023$2.5B

Mar 2024$2.5B

Jun 2024$2.8B

Sep 2024$2.7B

Dec 2024$2.6B

Mar 2025$2.3B

Jun 2025$2.7B

Sep 2025$2.7B

Dec 2025$2.7B

Mar 2026$2.3B

Jun 2026—

PACCAR Inc · PCAR

Sep 2021$5.1B

Dec 2021$6.7B

Mar 2022$6.5B

Jun 2022$7.2B

Sep 2022$7.1B

Dec 2022$8.1B

Mar 2023$8.5B

Jun 2023$8.9B

Sep 2023$8.7B

Dec 2023$9.1B

Mar 2024$8.7B

Jun 2024$8.8B

Sep 2024$8.2B

Dec 2024$7.9B

Mar 2025$7.4B

Jun 2025$7.5B

Sep 2025$6.7B

Dec 2025$6.8B

Mar 2026$6.8B

Jun 2026—

Terex Corporation · TEX

Sep 2021$994M

Dec 2021$990M

Mar 2022$1.0B

Jun 2022$1.1B

Sep 2022$1.1B

Dec 2022$1.2B

Mar 2023$1.2B

Jun 2023$1.4B

Sep 2023$1.3B

Dec 2023$1.2B

Mar 2024$1.3B

Jun 2024$1.4B

Sep 2024$1.2B

Dec 2024$1.2B

Mar 2025$1.2B

Jun 2025$1.5B

Sep 2025$1.4B

Dec 2025$1.3B

Mar 2026$1.7B

Jun 2026—

Revenue growth · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20222.3%

Sep 202215%

Dec 202224%

Mar 202324%

Jun 202330%

Sep 202311%

Dec 2023-2.5%

Mar 2024-12%

Jun 2024-15%

Sep 2024-25%

Dec 2024-24%

Mar 2025-30%

Jun 2025-19%

Sep 2025-4.7%

Dec 20251.1%

Mar 202614%

Jun 2026—

Alamo Group Inc. · ALG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202214%

Sep 20229.2%

Dec 202215%

Mar 202314%

Jun 202311%

Sep 202314%

Dec 20238.0%

Mar 20243.4%

Jun 2024-5.7%

Sep 2024-4.5%

Dec 2024-7.9%

Mar 2025-8.2%

Jun 20250.7%

Sep 20254.7%

Dec 2025-2.9%

Mar 20266.7%

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202214%

Sep 202218%

Dec 202231%

Mar 202320%

Jun 202310%

Sep 2023-3.8%

Dec 2023-3.7%

Mar 2024-11%

Jun 2024-1.1%

Sep 2024-4.0%

Dec 20246.5%

Mar 20256.5%

Jun 2025-4.6%

Sep 202520%

Dec 202512%

Mar 202620%

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20224.6%

Dec 202234%

Mar 2023—

Jun 202344%

Sep 202343%

Dec 202323%

Mar 2024—

Jun 202411%

Sep 202419%

Dec 2024-1.3%

Mar 20253.8%

Jun 202520%

Sep 202517%

Dec 20256.1%

Mar 2026-1.7%

Jun 2026—

Caterpillar Inc. · CAT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202211%

Sep 202221%

Dec 202220%

Mar 202317%

Jun 202322%

Sep 202312%

Dec 20232.9%

Mar 2024-0.4%

Jun 2024-3.6%

Sep 2024-4.2%

Dec 2024-5.0%

Mar 2025-9.8%

Jun 2025-0.7%

Sep 20259.5%

Dec 202518%

Mar 202622%

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202218%

Sep 202224%

Dec 202227%

Mar 202315%

Jun 20238.0%

Sep 20231.8%

Dec 2023-2.2%

Mar 2024-9.8%

Jun 2024-16%

Sep 2024-22%

Dec 2024-28%

Mar 2025-21%

Jun 2025-14%

Sep 2025-5.5%

Dec 20255.8%

Mar 2026-0.1%

Jun 2026—

Deere & Company · DE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202222%

Dec 202237%

Mar 202332%

Jun 202330%

Sep 202312%

Dec 2023-0.8%

Mar 2024-3.7%

Jun 2024-12%

Sep 2024-17%

Dec 2024-28%

Mar 2025-30%

Jun 2025-16%

Sep 2025-8.6%

Dec 202511%

Mar 202613%

Jun 20264.8%

Federal Signal Corporation · FSS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20229.6%

Sep 202216%

Dec 202230%

Mar 202317%

Jun 202320%

Sep 202329%

Dec 202314%

Mar 202410%

Jun 202411%

Sep 20246.3%

Dec 20245.4%

Mar 20259.2%

Jun 202515%

Sep 202517%

Dec 202526%

Mar 202635%

Jun 2026—

Lindsay Corporation · LNN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202223%

Dec 20226.0%

Mar 2023-17%

Jun 2023-23%

Sep 2023-12%

Dec 2023-8.5%

Mar 2024-8.4%

Jun 2024-16%

Sep 2024-7.2%

Dec 20243.1%

Mar 202523%

Jun 202522%

Sep 2025-0.7%

Dec 2025-6.0%

Mar 2026-16%

Jun 2026-4.7%

Oshkosh Corporation · OSK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-6.5%

Sep 20220.2%

Dec 202223%

Mar 202317%

Jun 202317%

Sep 202321%

Dec 202312%

Mar 202412%

Jun 202418%

Sep 20249.2%

Dec 20245.3%

Mar 2025-9.1%

Jun 2025-4.0%

Sep 2025-1.9%

Dec 20253.5%

Mar 20260.2%

Jun 2026—

PACCAR Inc · PCAR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202223%

Sep 202237%

Dec 202222%

Mar 202331%

Jun 202324%

Sep 202323%

Dec 202312%

Mar 20243.2%

Jun 2024-1.2%

Sep 2024-5.2%

Dec 2024-13%

Mar 2025-15%

Jun 2025-14%

Sep 2025-19%

Dec 2025-14%

Mar 2026-8.9%

Jun 2026—

Terex Corporation · TEX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20223.7%

Sep 202213%

Dec 202223%

Mar 202323%

Jun 202330%

Sep 202315%

Dec 20230.4%

Mar 20244.5%

Jun 2024-1.5%

Sep 2024-6.1%

Dec 20241.5%

Mar 2025-4.9%

Jun 20257.6%

Sep 202514%

Dec 20256.2%

Mar 202641%

Jun 2026—

02 · compare level, then change

Operating Economics & Margin Trend

Deere & Company has the highest OPM among the 21 Farm & Heavy Construction Machinery companies compared here, at 22.5%. Caterpillar Inc. is next at 17.7%. Blue Bird Corporation has the highest Margin change at +1.7 percentage points, so level and change sit with different companies. 20 of 21 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Deere & Company leads opm at 22.5%; Blue Bird Corporation leads margin change at +1.7 percentage points.

LeaderDeere & Company · 22.5%

Gap27.1% versus #2 · Caterpillar Inc.

Persistence0/8 recent comparable periods

Coverage20/21 companies · 367 observations

Investor read: Deere & Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Deere & Company DE23%

2Caterpillar Inc. CAT18%

3Federal Signal Corporation FSS16%

4Gencor Industries, Inc. GENC13%

5Lindsay Corporation LNN12%

Margin changefastest expanders

1Blue Bird Corporation BLBD+1.7 pp

2Federal Signal Corporation FSS+1.7 pp

3AGCO Corporation AGCO+1.0 pp

4Caterpillar Inc. CAT−0.4 pp

5The Manitowoc Company, Inc. MTW−0.5 pp

Operating margin · company comparison

20/21 level · 20/21 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	OPM	Margin change	Reported
Deere & Company DE	23%	−2.0 pp	Jun 2026
Caterpillar Inc. CAT	18%	−0.4 pp	Mar 2026
Federal Signal Corporation FSS	16%	+1.7 pp	Mar 2026
Gencor Industries, Inc. GENC	13%	−4.5 pp	Mar 2026
Lindsay Corporation LNN	12%	−2.5 pp	Jun 2026
Blue Bird Corporation BLBD	11%	+1.7 pp	Mar 2026
Alamo Group Inc. ALG	10%	−1.3 pp	Mar 2026
PACCAR Inc PCAR	10%	−1.9 pp	Mar 2026
CNH Industrial N.V. CNH	9.9%	−3.8 pp	Mar 2026
Oshkosh Corporation OSK	3.5%	−4.1 pp	Mar 2026
AGCO Corporation AGCO	3.4%	+1.0 pp	Mar 2026
Aebi Schmidt Holding AG AEBI	3.4%	−2.4 pp	Mar 2026
Astec Industries, Inc. ASTE	2.3%	−3.9 pp	Mar 2026
The Manitowoc Company, Inc. MTW	0.6%	−0.5 pp	Mar 2026
Titan International, Inc. TWI	-2.7%	−5.1 pp	Mar 2026
Hyster-Yale, Inc. HY	-3.5%	−5.8 pp	Mar 2026
Terex Corporation TEX	-4.7%	−10.3 pp	Mar 2026
Wabash National Corporation WNC	-17%	−99.9 pp	Mar 2026
Columbus McKinnon Corporation CMCO	-35%	−37.0 pp	Mar 2026
CEA Industries Inc. BNC	-993%	−2,254.1 pp	Jun 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 20219.2%

Dec 20218.4%

Mar 20227.6%

Jun 20228.9%

Sep 202211%

Dec 202212%

Mar 202312%

Jun 202313%

Sep 202312%

Dec 202310%

Mar 20249.3%

Jun 2024-7.4%

Sep 20244.4%

Dec 2024-9.3%

Mar 20252.4%

Jun 20256.2%

Sep 20256.1%

Dec 20257.9%

Mar 20263.4%

Jun 2026—

Alamo Group Inc. · ALG

Sep 20218.9%

Dec 20218.3%

Mar 20228.0%

Jun 202210%

Sep 20229.7%

Dec 202211%

Mar 202312%

Jun 202312%

Sep 202312%

Dec 202311%

Mar 202411%

Jun 202410%

Sep 202410%

Dec 20248.9%

Mar 202511%

Jun 202511%

Sep 20258.9%

Dec 20256.0%

Mar 202610%

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 20212.4%

Dec 2021-2.3%

Mar 20221.4%

Jun 2022-0.5%

Sep 20220.6%

Dec 20220.9%

Mar 20235.1%

Jun 20234.9%

Sep 2023-1.7%

Dec 20235.6%

Mar 20242.0%

Jun 2024-3.1%

Sep 2024-2.5%

Dec 20249.7%

Mar 20256.2%

Jun 20256.5%

Sep 20250.3%

Dec 20255.7%

Mar 20262.3%

Jun 2026—

Blue Bird Corporation · BLBD

Sep 20214.1%

Dec 2021-1.3%

Mar 2022-1.6%

Jun 2022-8.0%

Sep 20220.5%

Dec 2022-8.9%

Mar 2023—

Jun 20234.2%

Sep 20236.6%

Dec 202312%

Mar 202410%

Jun 202412%

Sep 20247.3%

Dec 202411%

Mar 20259.4%

Jun 202513%

Sep 202512%

Dec 202511%

Mar 202611%

Jun 2026—

Caterpillar Inc. · CAT

Sep 202113%

Dec 202112%

Mar 202214%

Jun 202214%

Sep 202216%

Dec 202210%

Mar 202317%

Jun 202321%

Sep 202321%

Dec 202318%

Mar 202422%

Jun 202421%

Sep 202420%

Dec 202418%

Mar 202518%

Jun 202517%

Sep 202517%

Dec 202514%

Mar 202618%

Jun 2026—

CNH Industrial N.V. · CNH

Sep 202114%

Dec 20218.3%

Mar 202213%

Jun 202215%

Sep 202216%

Dec 202214%

Mar 202317%

Jun 202318%

Sep 202317%

Dec 202314%

Mar 202417%

Jun 202416%

Sep 202416%

Dec 202414%

Mar 202514%

Jun 202514%

Sep 20259.8%

Dec 202510%

Mar 20269.9%

Jun 2026—

Deere & Company · DE

Sep 202121%

Dec 202116%

Mar 202214%

Jun 202221%

Sep 202220%

Dec 202221%

Mar 202324%

Jun 202325%

Sep 202327%

Dec 202325%

Mar 202425%

Jun 202426%

Sep 202424%

Dec 202421%

Mar 202520%

Jun 202525%

Sep 202520%

Dec 202518%

Mar 202616%

Jun 202623%

Federal Signal Corporation · FSS

Sep 202112%

Dec 202110%

Mar 20228.6%

Jun 202213%

Sep 202211%

Dec 202212%

Mar 202310%

Jun 202313%

Sep 202314%

Dec 202314%

Mar 202413%

Jun 202417%

Sep 202416%

Dec 202415%

Mar 202514%

Jun 202517%

Sep 202517%

Dec 202514%

Mar 202616%

Jun 2026—

Lindsay Corporation · LNN

Sep 20216.1%

Dec 20218.0%

Mar 20229.2%

Jun 202216%

Sep 202215%

Dec 202214%

Mar 202316%

Jun 202316%

Sep 202314%

Dec 202313%

Mar 202415%

Jun 202414%

Sep 20248.7%

Dec 202413%

Mar 202517%

Jun 202514%

Sep 20257.4%

Dec 202513%

Mar 20268.3%

Jun 202612%

Oshkosh Corporation · OSK

Sep 20215.1%

Dec 20212.3%

Mar 20221.6%

Jun 20223.7%

Sep 20225.7%

Dec 20226.7%

Mar 20235.8%

Jun 20239.7%

Sep 202310%

Dec 20238.7%

Mar 202410%

Jun 20249.2%

Sep 20249.7%

Dec 20248.6%

Mar 20257.6%

Jun 202511%

Sep 20259.7%

Dec 20257.9%

Mar 20263.5%

Jun 2026—

PACCAR Inc · PCAR

Sep 20219.2%

Dec 20219.4%

Mar 202212%

Jun 202213%

Sep 202213%

Dec 202214%

Mar 202317%

Jun 202317%

Sep 202317%

Dec 202317%

Mar 202416%

Jun 202415%

Sep 202414%

Dec 202413%

Mar 202512%

Jun 202511%

Sep 20259.5%

Dec 20258.8%

Mar 202610%

Jun 2026—

Terex Corporation · TEX

Sep 20217.5%

Dec 20217.0%

Mar 20227.4%

Jun 20229.6%

Sep 202211%

Dec 20229.9%

Mar 202312%

Jun 202315%

Sep 202313%

Dec 20239.5%

Mar 202412%

Jun 202414%

Sep 202410%

Dec 20244.3%

Mar 20255.6%

Jun 20258.7%

Sep 202510%

Dec 202510%

Mar 2026-4.7%

Jun 2026—

Margin change · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−1.2 pp

Sep 2022+1.4 pp

Dec 2022+3.5 pp

Mar 2023+4.0 pp

Jun 2023+4.1 pp

Sep 2023+1.7 pp

Dec 2023−1.6 pp

Mar 2024−2.3 pp

Jun 2024−20.4 pp

Sep 2024−7.9 pp

Dec 2024−19.6 pp

Mar 2025−6.9 pp

Jun 2025+13.6 pp

Sep 2025+1.7 pp

Dec 2025+17.2 pp

Mar 2026+1.0 pp

Jun 2026—

Alamo Group Inc. · ALG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+0.6 pp

Sep 2022+0.8 pp

Dec 2022+2.7 pp

Mar 2023+3.9 pp

Jun 2023+2.0 pp

Sep 2023+2.2 pp

Dec 2023−0.3 pp

Mar 2024−0.9 pp

Jun 2024−1.9 pp

Sep 2024−1.9 pp

Dec 2024−1.8 pp

Mar 2025+0.4 pp

Jun 2025+0.8 pp

Sep 2025−1.1 pp

Dec 2025−2.9 pp

Mar 2026−1.3 pp

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−4.2 pp

Sep 2022−1.8 pp

Dec 2022+3.2 pp

Mar 2023+3.7 pp

Jun 2023+5.4 pp

Sep 2023−2.3 pp

Dec 2023+4.7 pp

Mar 2024−3.1 pp

Jun 2024−8.0 pp

Sep 2024−0.8 pp

Dec 2024+4.1 pp

Mar 2025+4.2 pp

Jun 2025+9.6 pp

Sep 2025+2.8 pp

Dec 2025−4.0 pp

Mar 2026−3.9 pp

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−3.6 pp

Dec 2022−7.6 pp

Mar 2023—

Jun 2023+12.2 pp

Sep 2023+6.1 pp

Dec 2023+20.8 pp

Mar 2024—

Jun 2024+7.7 pp

Sep 2024+0.7 pp

Dec 2024−1.4 pp

Mar 2025−1.0 pp

Jun 2025+0.7 pp

Sep 2025+5.0 pp

Dec 2025+0.8 pp

Mar 2026+1.7 pp

Jun 2026—

Caterpillar Inc. · CAT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−0.3 pp

Sep 2022+2.8 pp

Dec 2022−1.6 pp

Mar 2023+3.5 pp

Jun 2023+7.5 pp

Sep 2023+4.3 pp

Dec 2023+8.3 pp

Mar 2024+5.1 pp

Jun 2024−0.2 pp

Sep 2024−1.0 pp

Dec 2024−0.4 pp

Mar 2025−4.2 pp

Jun 2025−3.6 pp

Sep 2025−2.2 pp

Dec 2025−4.1 pp

Mar 2026−0.4 pp

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+2.3 pp

Sep 2022+1.9 pp

Dec 2022+5.7 pp

Mar 2023+3.6 pp

Jun 2023+2.7 pp

Sep 2023+1.2 pp

Dec 2023+0.4 pp

Mar 2024−0.3 pp

Jun 2024−1.8 pp

Sep 2024−0.9 pp

Dec 2024−0.8 pp

Mar 2025−2.8 pp

Jun 2025−2.4 pp

Sep 2025−6.1 pp

Dec 2025−3.6 pp

Mar 2026−3.8 pp

Jun 2026—

Deere & Company · DE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.7 pp

Dec 2022+4.7 pp

Mar 2023+9.1 pp

Jun 2023+4.9 pp

Sep 2023+6.7 pp

Dec 2023+4.2 pp

Mar 2024+1.3 pp

Jun 2024+0.5 pp

Sep 2024−2.5 pp

Dec 2024−3.6 pp

Mar 2025−4.5 pp

Jun 2025−1.4 pp

Sep 2025−4.4 pp

Dec 2025−3.8 pp

Mar 2026−4.1 pp

Jun 2026−2.0 pp

Federal Signal Corporation · FSS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+1.1 pp

Sep 2022−0.1 pp

Dec 2022+1.9 pp

Mar 2023+1.6 pp

Jun 2023+0.8 pp

Sep 2023+2.6 pp

Dec 2023+2.2 pp

Mar 2024+2.6 pp

Jun 2024+3.1 pp

Sep 2024+2.0 pp

Dec 2024+0.8 pp

Mar 2025+1.4 pp

Jun 2025+0.8 pp

Sep 2025+0.9 pp

Dec 2025−0.9 pp

Mar 2026+1.7 pp

Jun 2026—

Lindsay Corporation · LNN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+8.5 pp

Dec 2022+6.0 pp

Mar 2023+7.2 pp

Jun 20230.0 pp

Sep 2023−0.6 pp

Dec 2023−0.9 pp

Mar 2024−1.8 pp

Jun 2024−2.1 pp

Sep 2024−5.3 pp

Dec 2024−0.5 pp

Mar 2025+2.6 pp

Jun 2025−0.3 pp

Sep 2025−1.3 pp

Dec 20250.0 pp

Mar 2026−8.9 pp

Jun 2026−2.5 pp

Oshkosh Corporation · OSK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−5.5 pp

Sep 2022+0.6 pp

Dec 2022+4.4 pp

Mar 2023+4.2 pp

Jun 2023+6.0 pp

Sep 2023+4.5 pp

Dec 2023+2.0 pp

Mar 2024+4.4 pp

Jun 2024−0.5 pp

Sep 2024−0.5 pp

Dec 2024−0.1 pp

Mar 2025−2.6 pp

Jun 2025+1.5 pp

Sep 20250.0 pp

Dec 2025−0.7 pp

Mar 2026−4.1 pp

Jun 2026—

PACCAR Inc · PCAR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+1.9 pp

Sep 2022+3.9 pp

Dec 2022+4.4 pp

Mar 2023+5.6 pp

Jun 2023+4.3 pp

Sep 2023+4.1 pp

Dec 2023+2.9 pp

Mar 2024−0.8 pp

Jun 2024−1.5 pp

Sep 2024−3.6 pp

Dec 2024−4.0 pp

Mar 2025−4.4 pp

Jun 2025−4.1 pp

Sep 2025−4.1 pp

Dec 2025−3.9 pp

Mar 2026−1.9 pp

Jun 2026—

Terex Corporation · TEX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−2.2 pp

Sep 2022+3.3 pp

Dec 2022+2.9 pp

Mar 2023+4.6 pp

Jun 2023+5.4 pp

Sep 2023+1.8 pp

Dec 2023−0.4 pp

Mar 2024+0.2 pp

Jun 2024−1.0 pp

Sep 2024−2.5 pp

Dec 2024−5.2 pp

Mar 2025−6.6 pp

Jun 2025−5.3 pp

Sep 20250.0 pp

Dec 2025+6.1 pp

Mar 2026−10.3 pp

Jun 2026—

03 · compare level, then change

Profit Scale & Acceleration

Caterpillar Inc. has the highest Net profit among the 21 Farm & Heavy Construction Machinery companies compared here, at $9,318 million. Deere & Company is next at $4,756 million. Astec Industries, Inc. has the highest Profit growth at 73.3%, so level and change sit with different companies. 20 of 21 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Caterpillar Inc. leads with $9,318 million of TTM profit, 95.9% above Deere & Company. Astec Industries, Inc. shows 73.3% growth from a $26 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderCaterpillar Inc. · $9,318 million

Gap95.9% versus #2 · Deere & Company

Persistence2/8 recent comparable periods

Coverage20/21 companies · 369 observations

Investor read: Caterpillar Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Caterpillar Inc. CAT$9.3B

2Deere & Company DE$4.8B

3PACCAR Inc PCAR$2.5B

4AGCO Corporation AGCO$762M

5Oshkosh Corporation OSK$581M

Profit growthfastest growers

1Astec Industries, Inc. ASTE73%

2Federal Signal Corporation FSS28%

3Blue Bird Corporation BLBD21%

4Caterpillar Inc. CAT-5.8%

5Gencor Industries, Inc. GENC-7.1%

Net profit · company comparison

20/21 level · 14/21 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
Caterpillar Inc. CAT	$2.5B	27%	Mar 2026
Deere & Company DE	$1.8B	-1.7%	Jun 2026
PACCAR Inc PCAR	$605M	20%	Mar 2026
Federal Signal Corporation FSS	$70M	52%	Mar 2026
AGCO Corporation AGCO	$52M	478%	Mar 2026
Oshkosh Corporation OSK	$44M	-61%	Mar 2026
Blue Bird Corporation BLBD	$29M	12%	Mar 2026
Alamo Group Inc. ALG	$29M	-9.4%	Mar 2026
Lindsay Corporation LNN	$16M	-20%	Jun 2026
CNH Industrial N.V. CNH	$10M	-92%	Mar 2026
Gencor Industries, Inc. GENC	$4M	-33%	Mar 2026
Astec Industries, Inc. ASTE	$1M	-93%	Mar 2026
Aebi Schmidt Holding AG AEBI	$1M	-50%	Mar 2026
The Manitowoc Company, Inc. MTW	$-6M	-88%	Mar 2026
Titan International, Inc. TWI	$-24M	-5,600%	Mar 2026
Hyster-Yale, Inc. HY	$-30M	-433%	Mar 2026
Wabash National Corporation WNC	$-45M	-119%	Mar 2026
CEA Industries Inc. BNC	$-56M	-10,800%	Jun 2026
Terex Corporation TEX	$-93M	-543%	Mar 2026
Columbus McKinnon Corporation CMCO	$-238M	50%	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 2021$182M

Dec 2021$283M

Mar 2022$137M

Jun 2022$178M

Sep 2022$238M

Dec 2022$322M

Mar 2023$233M

Jun 2023$319M

Sep 2023$281M

Dec 2023$263M

Mar 2024$168M

Jun 2024$-369M

Sep 2024$29M

Dec 2024$-314M

Mar 2025$9M

Jun 2025$314M

Sep 2025$303M

Dec 2025$93M

Mar 2026$52M

Jun 2026—

Alamo Group Inc. · ALG

Sep 2021$18M

Dec 2021$19M

Mar 2022$18M

Jun 2022$28M

Sep 2022$26M

Dec 2022$29M

Mar 2023$33M

Jun 2023$36M

Sep 2023$35M

Dec 2023$32M

Mar 2024$32M

Jun 2024$28M

Sep 2024$27M

Dec 2024$28M

Mar 2025$32M

Jun 2025$31M

Sep 2025$25M

Dec 2025$16M

Mar 2026$29M

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 2021$9M

Dec 2021$-10M

Mar 2022$4M

Jun 2022$-4M

Sep 2022$1M

Dec 2022$-1M

Mar 2023$12M

Jun 2023$13M

Sep 2023$-7M

Dec 2023$15M

Mar 2024$3M

Jun 2024$-14M

Sep 2024$-6M

Dec 2024$21M

Mar 2025$14M

Jun 2025$17M

Sep 2025$-4M

Dec 2025$12M

Mar 2026$1M

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021$4M

Dec 2021$-2M

Mar 2022$-4M

Jun 2022$-12M

Sep 2022$-6M

Dec 2022$-23M

Mar 2023—

Jun 2023$7M

Sep 2023$9M

Dec 2023$26M

Mar 2024$26M

Jun 2024$29M

Sep 2024$25M

Dec 2024$29M

Mar 2025$26M

Jun 2025$36M

Sep 2025$36M

Dec 2025$31M

Mar 2026$29M

Jun 2026—

Caterpillar Inc. · CAT

Sep 2021$1.4B

Dec 2021$2.1B

Mar 2022$1.5B

Jun 2022$1.7B

Sep 2022$2.0B

Dec 2022$1.5B

Mar 2023$1.9B

Jun 2023$2.9B

Sep 2023$2.8B

Dec 2023$2.7B

Mar 2024$2.8B

Jun 2024$2.7B

Sep 2024$2.5B

Dec 2024$2.8B

Mar 2025$2.0B

Jun 2025$2.2B

Sep 2025$2.3B

Dec 2025$2.3B

Mar 2026$2.5B

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021$329M

Dec 2021$307M

Mar 2022$336M

Jun 2022$552M

Sep 2022$559M

Dec 2022$592M

Mar 2023$486M

Jun 2023$710M

Sep 2023$540M

Dec 2023$583M

Mar 2024$369M

Jun 2024$404M

Sep 2024$310M

Dec 2024$176M

Mar 2025$132M

Jun 2025$217M

Sep 2025$67M

Dec 2025$89M

Mar 2026$10M

Jun 2026—

Deere & Company · DE

Sep 2021$1.7B

Dec 2021$1.3B

Mar 2022$904M

Jun 2022$2.1B

Sep 2022$1.9B

Dec 2022$2.2B

Mar 2023$2.0B

Jun 2023$2.9B

Sep 2023$3.0B

Dec 2023$2.4B

Mar 2024$1.7B

Jun 2024$2.4B

Sep 2024$1.7B

Dec 2024$1.2B

Mar 2025$867M

Jun 2025$1.8B

Sep 2025$1.3B

Dec 2025$1.1B

Mar 2026$655M

Jun 2026$1.8B

Federal Signal Corporation · FSS

Sep 2021$29M

Dec 2021$20M

Mar 2022$21M

Jun 2022$34M

Sep 2022$32M

Dec 2022$35M

Mar 2023$27M

Jun 2023$40M

Sep 2023$43M

Dec 2023$46M

Mar 2024$50M

Jun 2024$61M

Sep 2024$54M

Dec 2024$50M

Mar 2025$46M

Jun 2025$71M

Sep 2025$68M

Dec 2025$61M

Mar 2026$70M

Jun 2026—

Lindsay Corporation · LNN

Sep 2021$6M

Dec 2021$8M

Mar 2022$15M

Jun 2022$25M

Sep 2022$18M

Dec 2022$18M

Mar 2023$18M

Jun 2023$17M

Sep 2023$19M

Dec 2023$15M

Mar 2024$18M

Jun 2024$20M

Sep 2024$13M

Dec 2024$17M

Mar 2025$27M

Jun 2025$20M

Sep 2025$11M

Dec 2025$17M

Mar 2026$12M

Jun 2026$16M

Oshkosh Corporation · OSK

Sep 2021$89M

Dec 2021$23M

Mar 2022$1M

Jun 2022$34M

Sep 2022$67M

Dec 2022$76M

Mar 2023$95M

Jun 2023$175M

Sep 2023$186M

Dec 2023$151M

Mar 2024$182M

Jun 2024$176M

Sep 2024$182M

Dec 2024$154M

Mar 2025$114M

Jun 2025$206M

Sep 2025$197M

Dec 2025$134M

Mar 2026$44M

Jun 2026—

PACCAR Inc · PCAR

Sep 2021$381M

Dec 2021$519M

Mar 2022$601M

Jun 2022$720M

Sep 2022$769M

Dec 2022$921M

Mar 2023$734M

Jun 2023$1.2B

Sep 2023$1.2B

Dec 2023$1.4B

Mar 2024$1.2B

Jun 2024$1.1B

Sep 2024$972M

Dec 2024$872M

Mar 2025$505M

Jun 2025$724M

Sep 2025$590M

Dec 2025$557M

Mar 2026$605M

Jun 2026—

Terex Corporation · TEX

Sep 2021$63M

Dec 2021$58M

Mar 2022$65M

Jun 2022$93M

Sep 2022$108M

Dec 2022$108M

Mar 2023$135M

Jun 2023$196M

Sep 2023$148M

Dec 2023$102M

Mar 2024$147M

Jun 2024$174M

Sep 2024$112M

Dec 2024$12M

Mar 2025$21M

Jun 2025$89M

Sep 2025$98M

Dec 2025$97M

Mar 2026$-93M

Jun 2026—

Profit growth · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-37%

Sep 202231%

Dec 202214%

Mar 202370%

Jun 202379%

Sep 202318%

Dec 2023-18%

Mar 2024-28%

Jun 2024-216%

Sep 2024-90%

Dec 2024-219%

Mar 2025-95%

Jun 2025—

Sep 2025945%

Dec 2025—

Mar 2026478%

Jun 2026—

Alamo Group Inc. · ALG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20227.7%

Sep 202244%

Dec 202253%

Mar 202383%

Jun 202329%

Sep 202335%

Dec 202310%

Mar 2024-3.0%

Jun 2024-22%

Sep 2024-23%

Dec 2024-13%

Mar 20250.0%

Jun 202511%

Sep 2025-7.4%

Dec 2025-43%

Mar 2026-9.4%

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-150%

Sep 2022-89%

Dec 2022—

Mar 2023200%

Jun 2023—

Sep 2023-800%

Dec 2023—

Mar 2024-75%

Jun 2024-208%

Sep 2024—

Dec 202440%

Mar 2025367%

Jun 2025—

Sep 2025—

Dec 2025-43%

Mar 2026-93%

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-250%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024314%

Sep 2024178%

Dec 202412%

Mar 20250.0%

Jun 202524%

Sep 202544%

Dec 20256.9%

Mar 202612%

Jun 2026—

Caterpillar Inc. · CAT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202219%

Sep 202244%

Dec 2022-32%

Mar 202326%

Jun 202374%

Sep 202337%

Dec 202383%

Mar 202448%

Jun 2024-8.1%

Sep 2024-12%

Dec 20244.4%

Mar 2025-30%

Jun 2025-18%

Sep 2025-6.7%

Dec 2025-17%

Mar 202627%

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-2.5%

Sep 202270%

Dec 202293%

Mar 202345%

Jun 202329%

Sep 2023-3.4%

Dec 2023-1.5%

Mar 2024-24%

Jun 2024-43%

Sep 2024-43%

Dec 2024-70%

Mar 2025-64%

Jun 2025-46%

Sep 2025-78%

Dec 2025-49%

Mar 2026-92%

Jun 2026—

Deere & Company · DE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202213%

Dec 202275%

Mar 2023116%

Jun 202336%

Sep 202358%

Dec 20235.5%

Mar 2024-11%

Jun 2024-17%

Sep 2024-42%

Dec 2024-48%

Mar 2025-50%

Jun 2025-24%

Sep 2025-27%

Dec 2025-15%

Mar 2026-24%

Jun 2026-1.7%

Federal Signal Corporation · FSS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202213%

Sep 202210%

Dec 202275%

Mar 202329%

Jun 202318%

Sep 202334%

Dec 202331%

Mar 202485%

Jun 202453%

Sep 202426%

Dec 20248.7%

Mar 2025-8.0%

Jun 202516%

Sep 202526%

Dec 202522%

Mar 202652%

Jun 2026—

Lindsay Corporation · LNN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022200%

Dec 2022125%

Mar 202320%

Jun 2023-32%

Sep 20235.6%

Dec 2023-17%

Mar 20240.0%

Jun 202418%

Sep 2024-32%

Dec 202413%

Mar 202550%

Jun 20250.0%

Sep 2025-15%

Dec 20250.0%

Mar 2026-56%

Jun 2026-20%

Oshkosh Corporation · OSK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-84%

Sep 2022-25%

Dec 2022230%

Mar 20239,400%

Jun 2023415%

Sep 2023178%

Dec 202399%

Mar 202492%

Jun 20240.6%

Sep 2024-2.2%

Dec 20242.0%

Mar 2025-37%

Jun 202517%

Sep 20258.2%

Dec 2025-13%

Mar 2026-61%

Jun 2026—

PACCAR Inc · PCAR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202245%

Sep 2022102%

Dec 202277%

Mar 202322%

Jun 202370%

Sep 202360%

Dec 202354%

Mar 202463%

Jun 2024-8.0%

Sep 2024-21%

Dec 2024-38%

Mar 2025-58%

Jun 2025-36%

Sep 2025-39%

Dec 2025-36%

Mar 202620%

Jun 2026—

Terex Corporation · TEX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20228.1%

Sep 202271%

Dec 202286%

Mar 2023108%

Jun 2023111%

Sep 202337%

Dec 2023-5.6%

Mar 20248.9%

Jun 2024-11%

Sep 2024-24%

Dec 2024-88%

Mar 2025-86%

Jun 2025-49%

Sep 2025-13%

Dec 2025708%

Mar 2026-543%

Jun 2026—

04 · compare level, then change

Capacity Spending & Returns On It

Deere & Company has the highest CAPEX among the 21 Farm & Heavy Construction Machinery companies compared here, at $1,058 million. Caterpillar Inc. is next at $1,051 million. The same company also holds the highest CAPEX intensity, at 7.9%. 20 of 21 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Deere & Company reports $1,058 million of CAPEX; Deere & Company has the highest covered intensity at 7.9%. Coverage is only 20 of 21 companies and 357 reported observations, so this is partial evidence—not a complete sector rank.

LeaderDeere & Company · $1,058 million

Gap0.7% versus #2 · Caterpillar Inc.

Persistence8/8 recent comparable periods

Coverage20/21 companies · 357 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

CAPEXlargest spenders

1Deere & Company DE$1.1B

2Caterpillar Inc. CAT$1.1B

3PACCAR Inc PCAR$318M

4CNH Industrial N.V. CNH$218M

5AGCO Corporation AGCO$45M

CAPEX intensityhighest reinvestment intensity

1Deere & Company DE7.9%

2Caterpillar Inc. CAT6.0%

3CNH Industrial N.V. CNH5.7%

4Lindsay Corporation LNN5.0%

5PACCAR Inc PCAR4.7%

Capital expenditure · company comparison

20/21 level · 20/21 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	CAPEX	CAPEX intensity	Reported
Deere & Company DE	$1.1B	7.9%	Jun 2026
Caterpillar Inc. CAT	$1.1B	6.0%	Mar 2026
PACCAR Inc PCAR	$318M	4.7%	Mar 2026
CNH Industrial N.V. CNH	$218M	5.7%	Mar 2026
AGCO Corporation AGCO	$45M	1.9%	Mar 2026
Oshkosh Corporation OSK	$30M	1.3%	Mar 2026
Terex Corporation TEX	$26M	1.5%	Mar 2026
Titan International, Inc. TWI	$13M	2.6%	Mar 2026
Hyster-Yale, Inc. HY	$10M	1.3%	Mar 2026
Blue Bird Corporation BLBD	$8M	2.3%	Mar 2026
Astec Industries, Inc. ASTE	$8M	2.0%	Mar 2026
Lindsay Corporation LNN	$8M	5.0%	Jun 2026
The Manitowoc Company, Inc. MTW	$8M	1.6%	Mar 2026
Columbus McKinnon Corporation CMCO	$8M	1.8%	Mar 2026
Federal Signal Corporation FSS	$7M	1.1%	Mar 2026
Alamo Group Inc. ALG	$5M	1.2%	Mar 2026
Wabash National Corporation WNC	$4M	1.3%	Mar 2026
Aebi Schmidt Holding AG AEBI	$2M	0.4%	Mar 2026
Gencor Industries, Inc. GENC	$0M	0.0%	Mar 2026
CEA Industries Inc. BNC	$0M	0.0%	Jun 2026

Full 20-quarter history · every available company

CAPEX · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 2021$78M

Dec 2021$71M

Mar 2022$66M

Jun 2022$73M

Sep 2022$131M

Dec 2022$118M

Mar 2023$125M

Jun 2023$112M

Sep 2023$121M

Dec 2023$160M

Mar 2024$95M

Jun 2024$98M

Sep 2024$86M

Dec 2024$114M

Mar 2025$48M

Jun 2025$42M

Sep 2025$69M

Dec 2025$89M

Mar 2026$45M

Jun 2026—

Alamo Group Inc. · ALG

Sep 2021$5M

Dec 2021$11M

Mar 2022$4M

Jun 2022$11M

Sep 2022$9M

Dec 2022$8M

Mar 2023$9M

Jun 2023$9M

Sep 2023$9M

Dec 2023$11M

Mar 2024$7M

Jun 2024$4M

Sep 2024$8M

Dec 2024$6M

Mar 2025$6M

Jun 2025$7M

Sep 2025$12M

Dec 2025$5M

Mar 2026$5M

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 2021$4M

Dec 2021$9M

Mar 2022$12M

Jun 2022$7M

Sep 2022$9M

Dec 2022$13M

Mar 2023$8M

Jun 2023$9M

Sep 2023$8M

Dec 2023$9M

Mar 2024$6M

Jun 2024$8M

Sep 2024$3M

Dec 2024$5M

Mar 2025$4M

Jun 2025$4M

Sep 2025$4M

Dec 2025$29M

Mar 2026$8M

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021$3M

Dec 2021$2M

Mar 2022$2M

Jun 2022$2M

Sep 2022$1M

Dec 2022$2M

Mar 2023—

Jun 2023$3M

Sep 2023$3M

Dec 2023$3M

Mar 2024$3M

Jun 2024$4M

Sep 2024$5M

Dec 2024$5M

Mar 2025$9M

Jun 2025$5M

Sep 2025$5M

Dec 2025$5M

Mar 2026$8M

Jun 2026—

Caterpillar Inc. · CAT

Sep 2021$587M

Dec 2021$785M

Mar 2022$679M

Jun 2022$595M

Sep 2022$617M

Dec 2022$708M

Mar 2023$750M

Jun 2023$707M

Sep 2023$781M

Dec 2023$854M

Mar 2024$736M

Jun 2024$719M

Sep 2024$723M

Dec 2024$1.0B

Mar 2025$918M

Jun 2025$955M

Sep 2025$1.1B

Dec 2025$1.3B

Mar 2026$1.1B

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021—

Dec 2021$372M

Mar 2022$177M

Jun 2022$214M

Sep 2022$222M

Dec 2022$386M

Mar 2023$197M

Jun 2023$264M

Sep 2023$324M

Dec 2023$410M

Mar 2024$202M

Jun 2024$218M

Sep 2024$291M

Dec 2024—

Mar 2025$264M

Jun 2025$252M

Sep 2025$270M

Dec 2025—

Mar 2026$218M

Jun 2026—

Deere & Company · DE

Sep 2021$618M

Dec 2021$878M

Mar 2022$584M

Jun 2022$766M

Sep 2022$963M

Dec 2022$1.5B

Mar 2023$812M

Jun 2023$1.0B

Sep 2023$1.0B

Dec 2023$1.6B

Mar 2024$816M

Jun 2024$1.3B

Sep 2024$1.1B

Dec 2024$1.6B

Mar 2025$791M

Jun 2025$1.0B

Sep 2025$1.1B

Dec 2025$1.4B

Mar 2026$688M

Jun 2026$1.1B

Federal Signal Corporation · FSS

Sep 2021$3M

Dec 2021$25M

Mar 2022$34M

Jun 2022$8M

Sep 2022$4M

Dec 2022$7M

Mar 2023$6M

Jun 2023$10M

Sep 2023$6M

Dec 2023$9M

Mar 2024$8M

Jun 2024$16M

Sep 2024$8M

Dec 2024$9M

Mar 2025$6M

Jun 2025$7M

Sep 2025$7M

Dec 2025$8M

Mar 2026$7M

Jun 2026—

Lindsay Corporation · LNN

Sep 2021$4M

Dec 2021$3M

Mar 2022$4M

Jun 2022$5M

Sep 2022$3M

Dec 2022$4M

Mar 2023$3M

Jun 2023$6M

Sep 2023$5M

Dec 2023$7M

Mar 2024$12M

Jun 2024$5M

Sep 2024$5M

Dec 2024$9M

Mar 2025$10M

Jun 2025$9M

Sep 2025$14M

Dec 2025$14M

Mar 2026$13M

Jun 2026$8M

Oshkosh Corporation · OSK

Sep 2021$44M

Dec 2021$39M

Mar 2022$28M

Jun 2022$84M

Sep 2022$50M

Dec 2022$109M

Mar 2023$112M

Jun 2023$18M

Sep 2023$98M

Dec 2023$97M

Mar 2024$100M

Jun 2024$40M

Sep 2024$54M

Dec 2024$89M

Mar 2025$45M

Jun 2025$41M

Sep 2025$25M

Dec 2025$74M

Mar 2026$30M

Jun 2026—

PACCAR Inc · PCAR

Sep 2021$379M

Dec 2021$461M

Mar 2022$369M

Jun 2022$371M

Sep 2022$343M

Dec 2022$309M

Mar 2023$292M

Jun 2023$272M

Sep 2023$336M

Dec 2023$363M

Mar 2024$352M

Jun 2024$513M

Sep 2024$378M

Dec 2024$503M

Mar 2025$326M

Jun 2025$389M

Sep 2025$306M

Dec 2025$366M

Mar 2026$318M

Jun 2026—

Terex Corporation · TEX

Sep 2021$8M

Dec 2021$28M

Mar 2022$20M

Jun 2022$27M

Sep 2022$32M

Dec 2022$31M

Mar 2023$20M

Jun 2023$19M

Sep 2023$33M

Dec 2023$55M

Mar 2024$35M

Jun 2024$24M

Sep 2024$29M

Dec 2024$49M

Mar 2025$36M

Jun 2025$24M

Sep 2025$24M

Dec 2025$34M

Mar 2026$26M

Jun 2026—

CAPEX intensity · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 20212.9%

Dec 20212.3%

Mar 20222.5%

Jun 20222.5%

Sep 20224.2%

Dec 20223.0%

Mar 20233.7%

Jun 20232.9%

Sep 20233.5%

Dec 20234.2%

Mar 20243.2%

Jun 20243.0%

Sep 20243.3%

Dec 20243.9%

Mar 20252.3%

Jun 20251.6%

Sep 20252.8%

Dec 20253.0%

Mar 20261.9%

Jun 2026—

Alamo Group Inc. · ALG

Sep 20211.5%

Dec 20213.3%

Mar 20221.1%

Jun 20222.8%

Sep 20222.4%

Dec 20222.1%

Mar 20232.2%

Jun 20232.0%

Sep 20232.1%

Dec 20232.6%

Mar 20241.6%

Jun 20241.0%

Sep 20242.0%

Dec 20241.6%

Mar 20251.5%

Jun 20251.7%

Sep 20252.9%

Dec 20251.3%

Mar 20261.2%

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 20211.5%

Dec 20213.4%

Mar 20224.1%

Jun 20222.2%

Sep 20222.9%

Dec 20223.7%

Mar 20232.3%

Jun 20232.6%

Sep 20232.6%

Dec 20232.7%

Mar 20241.9%

Jun 20242.3%

Sep 20241.0%

Dec 20241.4%

Mar 20251.2%

Jun 20251.2%

Sep 20251.1%

Dec 20257.2%

Mar 20262.0%

Jun 2026—

Blue Bird Corporation · BLBD

Sep 20211.5%

Dec 20211.0%

Mar 20221.6%

Jun 20221.0%

Sep 20220.5%

Dec 20220.8%

Mar 2023—

Jun 20231.0%

Sep 20231.0%

Dec 20230.9%

Mar 20240.9%

Jun 20241.2%

Sep 20241.4%

Dec 20241.6%

Mar 20252.5%

Jun 20251.3%

Sep 20251.2%

Dec 20251.5%

Mar 20262.3%

Jun 2026—

Caterpillar Inc. · CAT

Sep 20214.7%

Dec 20215.7%

Mar 20225.0%

Jun 20224.2%

Sep 20224.1%

Dec 20224.3%

Mar 20234.7%

Jun 20234.1%

Sep 20234.6%

Dec 20235.0%

Mar 20244.7%

Jun 20244.3%

Sep 20244.5%

Dec 20246.4%

Mar 20256.4%

Jun 20255.8%

Sep 20256.1%

Dec 20257.0%

Mar 20266.0%

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021—

Dec 20216.8%

Mar 20223.8%

Jun 20223.5%

Sep 20223.8%

Dec 20225.6%

Mar 20233.7%

Jun 20234.0%

Sep 20235.4%

Dec 20236.0%

Mar 20244.2%

Jun 20244.0%

Sep 20246.3%

Dec 2024—

Mar 20256.9%

Jun 20255.3%

Sep 20256.1%

Dec 2025—

Mar 20265.7%

Jun 2026—

Deere & Company · DE

Sep 20215.4%

Dec 20217.8%

Mar 20226.1%

Jun 20225.7%

Sep 20226.8%

Dec 20229.5%

Mar 20236.4%

Jun 20235.8%

Sep 20236.6%

Dec 202311%

Mar 20246.7%

Jun 20248.3%

Sep 20248.5%

Dec 202414%

Mar 20259.3%

Jun 20258.0%

Sep 20258.8%

Dec 202511%

Mar 20267.2%

Jun 20267.9%

Federal Signal Corporation · FSS

Sep 20211.0%

Dec 20218.3%

Mar 202210%

Jun 20222.2%

Sep 20221.2%

Dec 20221.8%

Mar 20231.6%

Jun 20232.3%

Sep 20231.3%

Dec 20232.0%

Mar 20241.9%

Jun 20243.3%

Sep 20241.7%

Dec 20241.9%

Mar 20251.3%

Jun 20251.2%

Sep 20251.3%

Dec 20251.3%

Mar 20261.1%

Jun 2026—

Lindsay Corporation · LNN

Sep 20212.6%

Dec 20211.8%

Mar 20222.0%

Jun 20222.3%

Sep 20221.6%

Dec 20222.3%

Mar 20231.8%

Jun 20233.6%

Sep 20233.0%

Dec 20234.3%

Mar 20247.9%

Jun 20243.6%

Sep 20243.2%

Dec 20245.4%

Mar 20255.3%

Jun 20255.3%

Sep 20259.1%

Dec 20259.0%

Mar 20268.2%

Jun 20265.0%

Oshkosh Corporation · OSK

Sep 20212.1%

Dec 20212.2%

Mar 20221.4%

Jun 20224.1%

Sep 20222.4%

Dec 20224.9%

Mar 20234.9%

Jun 20230.7%

Sep 20233.9%

Dec 20233.9%

Mar 20243.9%

Jun 20241.4%

Sep 20242.0%

Dec 20243.4%

Mar 20251.9%

Jun 20251.5%

Sep 20250.9%

Dec 20252.8%

Mar 20261.3%

Jun 2026—

PACCAR Inc · PCAR

Sep 20217.4%

Dec 20216.9%

Mar 20225.7%

Jun 20225.2%

Sep 20224.9%

Dec 20223.8%

Mar 20233.4%

Jun 20233.1%

Sep 20233.9%

Dec 20234.0%

Mar 20244.0%

Jun 20245.8%

Sep 20244.6%

Dec 20246.4%

Mar 20254.4%

Jun 20255.2%

Sep 20254.6%

Dec 20255.4%

Mar 20264.7%

Jun 2026—

Terex Corporation · TEX

Sep 20210.8%

Dec 20212.8%

Mar 20222.0%

Jun 20222.5%

Sep 20222.9%

Dec 20222.5%

Mar 20231.6%

Jun 20231.4%

Sep 20232.6%

Dec 20234.5%

Mar 20242.7%

Jun 20241.7%

Sep 20242.4%

Dec 20243.9%

Mar 20252.9%

Jun 20251.6%

Sep 20251.7%

Dec 20252.6%

Mar 20261.5%

Jun 2026—

Annual capital allocation · 5-year view

20/21 capacity base · 21/21 OCF · 21/21 CAPEX · 21/21 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Dec 2021$1.6B

Dec 2022$1.8B

Dec 2023$2.1B

Dec 2024$2.0B

Dec 2025$2.2B

Alamo Group Inc. · ALG

Dec 2021$185M

Dec 2022$189M

Dec 2023$206M

Dec 2024$419M

Dec 2025$453M

Astec Industries, Inc. · ASTE

Dec 2021$172M

Dec 2022$174M

Dec 2023$188M

Dec 2024$182M

Dec 2025$222M

Blue Bird Corporation · BLBD

Dec 2021$111M

Dec 2022$102M

Dec 2023$96M

Dec 2024$113M

Dec 2025$122M

Caterpillar Inc. · CAT

Dec 2021$12.1B

Dec 2022$12.0B

Dec 2023$12.7B

Dec 2024$13.4B

Dec 2025$15.1B

CNH Industrial N.V. · CNH

Dec 2021$3.2B

Dec 2022$3.3B

Dec 2023$3.6B

Dec 2024$3.7B

Dec 2025$4.0B

Deere & Company · DE

Dec 2021$12.8B

Dec 2022$12.7B

Dec 2023$13.8B

Dec 2024$15.0B

Dec 2025$15.7B

Federal Signal Corporation · FSS

Dec 2021$280M

Dec 2022$313M

Dec 2023$347M

Dec 2024$420M

Dec 2025$506M

Lindsay Corporation · LNN

Dec 2021$110M

Dec 2022$114M

Dec 2023$117M

Dec 2024$129M

Dec 2025$160M

Oshkosh Corporation · OSK

Dec 2021$593M

Dec 2022$826M

Dec 2023$1.1B

Dec 2024$1.2B

Dec 2025$1.3B

PACCAR Inc · PCAR

Dec 2021$6.6B

Dec 2022$6.3B

Dec 2023$6.1B

Dec 2024$5.9B

Dec 2025$6.4B

Terex Corporation · TEX

Dec 2021$430M

Dec 2022$466M

Dec 2023$570M

Dec 2024$714M

Dec 2025$760M

Operating cash flow · fiscal-year history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Dec 2021$660M

Dec 2022$838M

Dec 2023$1.1B

Dec 2024$690M

Dec 2025$988M

Alamo Group Inc. · ALG

Dec 2021$50M

Dec 2022$15M

Dec 2023$131M

Dec 2024$210M

Dec 2025$178M

Astec Industries, Inc. · ASTE

Dec 2021$7M

Dec 2022$-74M

Dec 2023$28M

Dec 2024$23M

Dec 2025$61M

Blue Bird Corporation · BLBD

Dec 2021$-54M

Dec 2022$-24M

Dec 2023$120M

Dec 2024$111M

Dec 2025$176M

Caterpillar Inc. · CAT

Dec 2021$7.2B

Dec 2022$7.8B

Dec 2023$12.9B

Dec 2024$12.0B

Dec 2025$11.7B

CNH Industrial N.V. · CNH

Dec 2021$4.1B

Dec 2022$557M

Dec 2023$907M

Dec 2024$1.5B

Dec 2025$2.1B

Deere & Company · DE

Dec 2021$7.7B

Dec 2022$4.7B

Dec 2023$8.6B

Dec 2024$9.2B

Dec 2025$7.5B

Federal Signal Corporation · FSS

Dec 2021$102M

Dec 2022$72M

Dec 2023$194M

Dec 2024$231M

Dec 2025$255M

Lindsay Corporation · LNN

Dec 2021$44M

Dec 2022$3M

Dec 2023$120M

Dec 2024$96M

Dec 2025$133M

Oshkosh Corporation · OSK

Dec 2021$-163M

Dec 2022$601M

Dec 2023$600M

Dec 2024$550M

Dec 2025$783M

PACCAR Inc · PCAR

Dec 2021$2.2B

Dec 2022$3.0B

Dec 2023$4.2B

Dec 2024$4.6B

Dec 2025$4.4B

Terex Corporation · TEX

Dec 2021$293M

Dec 2022$261M

Dec 2023$459M

Dec 2024$326M

Dec 2025$440M

CAPEX · reported cash flow · fiscal-year history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Dec 2021$270M

Dec 2022$388M

Dec 2023$518M

Dec 2024$393M

Dec 2025$248M

Alamo Group Inc. · ALG

Dec 2021$25M

Dec 2022$31M

Dec 2023$38M

Dec 2024$25M

Dec 2025$31M

Astec Industries, Inc. · ASTE

Dec 2021$20M

Dec 2022$41M

Dec 2023$34M

Dec 2024$21M

Dec 2025$41M

Blue Bird Corporation · BLBD

Dec 2021$12M

Dec 2022$6M

Dec 2023$9M

Dec 2024$15M

Dec 2025$23M

Caterpillar Inc. · CAT

Dec 2021$2.5B

Dec 2022$2.6B

Dec 2023$3.1B

Dec 2024$3.2B

Dec 2025$4.3B

CNH Industrial N.V. · CNH

Dec 2021$921M

Dec 2022$999M

Dec 2023$1.2B

Dec 2024$733M

Dec 2025$717M

Deere & Company · DE

Dec 2021$2.6B

Dec 2022$3.8B

Dec 2023$4.5B

Dec 2024$4.8B

Dec 2025$4.2B

Federal Signal Corporation · FSS

Dec 2021$37M

Dec 2022$53M

Dec 2023$30M

Dec 2024$41M

Dec 2025$28M

Lindsay Corporation · LNN

Dec 2021$27M

Dec 2022$16M

Dec 2023$19M

Dec 2024$29M

Dec 2025$42M

Oshkosh Corporation · OSK

Dec 2021$39M

Dec 2022$270M

Dec 2023$330M

Dec 2024$288M

Dec 2025$212M

PACCAR Inc · PCAR

Dec 2021$1.6B

Dec 2022$1.4B

Dec 2023$1.3B

Dec 2024$1.7B

Dec 2025$1.4B

Terex Corporation · TEX

Dec 2021$60M

Dec 2022$110M

Dec 2023$127M

Dec 2024$137M

Dec 2025$118M

Free cash flow · fiscal-year history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Dec 2021$390M

Dec 2022$450M

Dec 2023$585M

Dec 2024$297M

Dec 2025$740M

Alamo Group Inc. · ALG

Dec 2021$24M

Dec 2022$-17M

Dec 2023$93M

Dec 2024$185M

Dec 2025$147M

Astec Industries, Inc. · ASTE

Dec 2021$-13M

Dec 2022$-115M

Dec 2023$-6M

Dec 2024$3M

Dec 2025$21M

Blue Bird Corporation · BLBD

Dec 2021$-66M

Dec 2022$-31M

Dec 2023$111M

Dec 2024$96M

Dec 2025$153M

Caterpillar Inc. · CAT

Dec 2021$4.7B

Dec 2022$5.2B

Dec 2023$9.8B

Dec 2024$8.8B

Dec 2025$7.5B

CNH Industrial N.V. · CNH

Dec 2021$3.2B

Dec 2022$-442M

Dec 2023$-288M

Dec 2024$805M

Dec 2025$1.4B

Deere & Company · DE

Dec 2021$5.1B

Dec 2022$911M

Dec 2023$4.1B

Dec 2024$4.4B

Dec 2025$3.2B

Federal Signal Corporation · FSS

Dec 2021$64M

Dec 2022$19M

Dec 2023$164M

Dec 2024$191M

Dec 2025$227M

Lindsay Corporation · LNN

Dec 2021$17M

Dec 2022$-13M

Dec 2023$101M

Dec 2024$67M

Dec 2025$90M

Oshkosh Corporation · OSK

Dec 2021$-203M

Dec 2022$332M

Dec 2023$270M

Dec 2024$262M

Dec 2025$572M

PACCAR Inc · PCAR

Dec 2021$554M

Dec 2022$1.6B

Dec 2023$2.9B

Dec 2024$2.9B

Dec 2025$3.0B

Terex Corporation · TEX

Dec 2021$234M

Dec 2022$151M

Dec 2023$332M

Dec 2024$189M

Dec 2025$322M

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

Gencor Industries, Inc. has the lowest Gross debt among the 21 Farm & Heavy Construction Machinery companies compared here, at $0 million. CEA Industries Inc. is next at $3 million. Blue Bird Corporation has the lowest Net debt at $188 million net cash, so level and change sit with different companies.

What the numbers say: Blue Bird Corporation has the clearest covered balance-sheet capacity with $188 million net cash and gross debt of $88 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderGencor Industries, Inc. · $0 million

Gap100% versus #2 · CEA Industries Inc.

Persistence8/8 recent comparable periods

Coverage20/21 companies · 371 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

Gross debtlowest gross debt

1Gencor Industries, Inc. GENC$0M

2CEA Industries Inc. BNC$3M

3Blue Bird Corporation BLBD$88M

4Lindsay Corporation LNN$134M

5Alamo Group Inc. ALG$290M

Net debtlowest net debt

1Blue Bird Corporation BLBD$-188M

2Gencor Industries, Inc. GENC$-155M

3Lindsay Corporation LNN$-21M

4CEA Industries Inc. BNC$0M

5Alamo Group Inc. ALG$95M

Debt and balance-sheet capacity · company comparison

20/21 level · 20/21 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Gross debt	Net debt	Reported
Deere & Company DE	$63.8B	$54.5B	Jun 2026
Caterpillar Inc. CAT	$43.1B	$39.0B	Mar 2026
CNH Industrial N.V. CNH	$25.9B	$24.3B	Mar 2026
PACCAR Inc PCAR	$14.9B	$6.1B	Mar 2026
Terex Corporation TEX	$2.7B	$2.4B	Mar 2026
AGCO Corporation AGCO	$2.7B	$2.2B	Mar 2026
Columbus McKinnon Corporation CMCO	$2.4B	$2.3B	Mar 2026
Oshkosh Corporation OSK	$1.1B	$897M	Mar 2026
Aebi Schmidt Holding AG AEBI	$792M	$676M	Mar 2026
Titan International, Inc. TWI	$735M	$564M	Mar 2026
Federal Signal Corporation FSS	$583M	$512M	Mar 2026
Hyster-Yale, Inc. HY	$505M	$423M	Mar 2026
The Manitowoc Company, Inc. MTW	$499M	$421M	Mar 2026
Wabash National Corporation WNC	$498M	$455M	Mar 2026
Astec Industries, Inc. ASTE	$393M	$316M	Mar 2026
Alamo Group Inc. ALG	$290M	$95M	Mar 2026
Lindsay Corporation LNN	$134M	$-21M	Jun 2026
Blue Bird Corporation BLBD	$88M	$-188M	Mar 2026
CEA Industries Inc. BNC	$3M	$0M	Jun 2026
Gencor Industries, Inc. GENC	$0M	$-155M	Mar 2026

Full 20-quarter history · every available company

Gross debt · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 2021$1.7B

Dec 2021$1.6B

Mar 2022$2.1B

Jun 2022$2.5B

Sep 2022$2.3B

Dec 2022$1.6B

Mar 2023$2.1B

Jun 2023$2.4B

Sep 2023$2.2B

Dec 2023$1.5B

Mar 2024$3.9B

Jun 2024$4.0B

Sep 2024$4.2B

Dec 2024$2.8B

Mar 2025$3.1B

Jun 2025$3.1B

Sep 2025$3.0B

Dec 2025$2.6B

Mar 2026$2.7B

Jun 2026—

Alamo Group Inc. · ALG

Sep 2021$294M

Dec 2021$270M

Mar 2022$373M

Jun 2022$371M

Sep 2022$363M

Dec 2022$302M

Mar 2023$371M

Jun 2023$348M

Sep 2023$324M

Dec 2023$235M

Mar 2024$322M

Jun 2024$294M

Sep 2024$224M

Dec 2024$220M

Mar 2025$217M

Jun 2025$213M

Sep 2025$209M

Dec 2025$206M

Mar 2026$290M

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 2021$1M

Dec 2021$3M

Mar 2022$5M

Jun 2022$6M

Sep 2022$10M

Dec 2022$88M

Mar 2023$76M

Jun 2023$74M

Sep 2023$129M

Dec 2023$83M

Mar 2024$135M

Jun 2024$138M

Sep 2024$112M

Dec 2024$118M

Mar 2025$108M

Jun 2025$97M

Sep 2025$352M

Dec 2025$348M

Mar 2026$393M

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021$173M

Dec 2021$215M

Mar 2022$171M

Jun 2022$162M

Sep 2022$218M

Dec 2022$172M

Mar 2023—

Jun 2023$141M

Sep 2023$136M

Dec 2023$136M

Mar 2024$115M

Jun 2024$97M

Sep 2024$95M

Dec 2024$94M

Mar 2025$93M

Jun 2025$91M

Sep 2025$90M

Dec 2025$89M

Mar 2026$88M

Jun 2026—

Caterpillar Inc. · CAT

Sep 2021$36.8B

Dec 2021$37.8B

Mar 2022$37.6B

Jun 2022$37.0B

Sep 2022$36.5B

Dec 2022$37.0B

Mar 2023$37.0B

Jun 2023$37.7B

Sep 2023$37.1B

Dec 2023$37.9B

Mar 2024$37.9B

Jun 2024$37.3B

Sep 2024$37.9B

Dec 2024$38.4B

Mar 2025$38.6B

Jun 2025$40.7B

Sep 2025$41.5B

Dec 2025$43.3B

Mar 2026$43.1B

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021$24.2B

Dec 2021$29.4B

Mar 2022$21.6B

Jun 2022$0M

Sep 2022$20.9B

Dec 2022$23.7B

Mar 2023$23.6B

Jun 2023$24.9B

Sep 2023$25.0B

Dec 2023$0M

Mar 2024$27.8B

Jun 2024$26.8B

Sep 2024$27.3B

Dec 2024$27.7B

Mar 2025$26.0B

Jun 2025$27.4B

Sep 2025$27.1B

Dec 2025$27.7B

Mar 2026$25.9B

Jun 2026—

Deere & Company · DE

Sep 2021$48.0B

Dec 2021$48.4B

Mar 2022$47.3B

Jun 2022$48.9B

Sep 2022$51.2B

Dec 2022$51.9B

Mar 2023$54.1B

Jun 2023$58.1B

Sep 2023$61.9B

Dec 2023$63.4B

Mar 2024$63.2B

Jun 2024$65.6B

Sep 2024$65.9B

Dec 2024$65.2B

Mar 2025$64.4B

Jun 2025$66.3B

Sep 2025$66.6B

Dec 2025$63.9B

Mar 2026$62.5B

Jun 2026$63.8B

Federal Signal Corporation · FSS

Sep 2021$285M

Dec 2021$314M

Mar 2022$356M

Jun 2022$354M

Sep 2022$357M

Dec 2022$388M

Mar 2023$402M

Jun 2023$435M

Sep 2023$390M

Dec 2023$321M

Mar 2024$294M

Jun 2024$284M

Sep 2024$259M

Dec 2024$252M

Mar 2025$305M

Jun 2025$296M

Sep 2025$243M

Dec 2025$595M

Mar 2026$583M

Jun 2026—

Lindsay Corporation · LNN

Sep 2021$134M

Dec 2021$133M

Mar 2022$133M

Jun 2022$136M

Sep 2022$135M

Dec 2022$135M

Mar 2023$134M

Jun 2023$134M

Sep 2023$133M

Dec 2023$133M

Mar 2024$132M

Jun 2024$131M

Sep 2024$131M

Dec 2024$130M

Mar 2025$132M

Jun 2025$132M

Sep 2025$132M

Dec 2025$132M

Mar 2026$134M

Jun 2026$134M

Oshkosh Corporation · OSK

Sep 2021$819M

Dec 2021$819M

Mar 2022$594M

Jun 2022$605M

Sep 2022$604M

Dec 2022$605M

Mar 2023$597M

Jun 2023$597M

Sep 2023$1.1B

Dec 2023$773M

Mar 2024$1.2B

Jun 2024$1.6B

Sep 2024$1.5B

Dec 2024$962M

Mar 2025$1.5B

Jun 2025$1.5B

Sep 2025$1.2B

Dec 2025$1.1B

Mar 2026$1.1B

Jun 2026—

PACCAR Inc · PCAR

Sep 2021$9.9B

Dec 2021$10.4B

Mar 2022$10.9B

Jun 2022$10.6B

Sep 2022$10.4B

Dec 2022$11.5B

Mar 2023$11.9B

Jun 2023$12.6B

Sep 2023$12.9B

Dec 2023$14.2B

Mar 2024$14.0B

Jun 2024$14.4B

Sep 2024$15.5B

Dec 2024$15.9B

Mar 2025$15.7B

Jun 2025$15.9B

Sep 2025$15.9B

Dec 2025$15.6B

Mar 2026$14.9B

Jun 2026—

Terex Corporation · TEX

Sep 2021$893M

Dec 2021$674M

Mar 2022$740M

Jun 2022$828M

Sep 2022$827M

Dec 2022$776M

Mar 2023$777M

Jun 2023$737M

Sep 2023$800M

Dec 2023$623M

Mar 2024$724M

Jun 2024$666M

Sep 2024$628M

Dec 2024$2.6B

Mar 2025$2.6B

Jun 2025$2.6B

Sep 2025$2.6B

Dec 2025$2.6B

Mar 2026$2.7B

Jun 2026—

Net debt · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 2021$1.2B

Dec 2021$731M

Mar 2022$1.5B

Jun 2022$1.9B

Sep 2022$1.7B

Dec 2022$796M

Mar 2023$1.6B

Jun 2023$1.9B

Sep 2023$1.5B

Dec 2023$931M

Mar 2024$1.4B

Jun 2024$3.4B

Sep 2024$3.5B

Dec 2024$2.2B

Mar 2025$2.5B

Jun 2025$2.3B

Sep 2025$2.1B

Dec 2025$1.7B

Mar 2026$2.2B

Jun 2026—

Alamo Group Inc. · ALG

Sep 2021$205M

Dec 2021$228M

Mar 2022$289M

Jun 2022$295M

Sep 2022$288M

Dec 2022$255M

Mar 2023$262M

Jun 2023$236M

Sep 2023$210M

Dec 2023$183M

Mar 2024$200M

Jun 2024$175M

Sep 2024$84M

Dec 2024$23M

Mar 2025$17M

Jun 2025$11M

Sep 2025$-36M

Dec 2025$-104M

Mar 2026$95M

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 2021$-173M

Dec 2021$-140M

Mar 2022$-113M

Jun 2022$-50M

Sep 2022$-15M

Dec 2022$18M

Mar 2023$30M

Jun 2023$25M

Sep 2023$49M

Dec 2023$14M

Mar 2024$71M

Jun 2024$70M

Sep 2024$53M

Dec 2024$24M

Mar 2025$13M

Jun 2025$5M

Sep 2025$280M

Dec 2025$274M

Mar 2026$316M

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021$162M

Dec 2021$203M

Mar 2022$167M

Jun 2022$147M

Sep 2022$191M

Dec 2022$162M

Mar 2023—

Jun 2023$123M

Sep 2023$86M

Dec 2023$59M

Mar 2024$22M

Jun 2024$9M

Sep 2024$-33M

Dec 2024$-42M

Mar 2025$-38M

Jun 2025$-82M

Sep 2025$-139M

Dec 2025$-153M

Mar 2026$-188M

Jun 2026—

Caterpillar Inc. · CAT

Sep 2021$27.3B

Dec 2021$28.5B

Mar 2022$31.1B

Jun 2022$30.9B

Sep 2022$30.2B

Dec 2022$30.0B

Mar 2023$30.2B

Jun 2023$30.3B

Sep 2023$30.6B

Dec 2023$30.9B

Mar 2024$32.9B

Jun 2024$33.0B

Sep 2024$32.3B

Dec 2024$31.5B

Mar 2025$35.0B

Jun 2025$35.3B

Sep 2025$34.0B

Dec 2025$33.4B

Mar 2026$39.0B

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021$16.3B

Dec 2021$24.4B

Mar 2022$17.6B

Jun 2022$-3.6B

Sep 2022$17.8B

Dec 2022$18.5B

Mar 2023$20.3B

Jun 2023$21.7B

Sep 2023$22.0B

Dec 2023$-5.0B

Mar 2024$24.5B

Jun 2024$24.8B

Sep 2024$25.5B

Dec 2024$23.8B

Mar 2025$24.3B

Jun 2025$24.9B

Sep 2025$24.8B

Dec 2025$24.4B

Mar 2026$24.3B

Jun 2026—

Deere & Company · DE

Sep 2021$39.8B

Dec 2021$39.7B

Mar 2022$42.1B

Jun 2022$44.3B

Sep 2022$46.2B

Dec 2022$46.4B

Mar 2023$49.2B

Jun 2023$52.0B

Sep 2023$54.4B

Dec 2023$55.0B

Mar 2024$56.9B

Jun 2024$59.0B

Sep 2024$57.7B

Dec 2024$56.7B

Mar 2025$56.6B

Jun 2025$57.1B

Sep 2025$56.7B

Dec 2025$54.2B

Mar 2026$54.3B

Jun 2026$54.5B

Federal Signal Corporation · FSS

Sep 2021$197M

Dec 2021$273M

Mar 2022$317M

Jun 2022$323M

Sep 2022$321M

Dec 2022$340M

Mar 2023$364M

Jun 2023$386M

Sep 2023$349M

Dec 2023$260M

Mar 2024$245M

Jun 2024$235M

Sep 2024$185M

Dec 2024$161M

Mar 2025$247M

Jun 2025$231M

Sep 2025$189M

Dec 2025$531M

Mar 2026$512M

Jun 2026—

Lindsay Corporation · LNN

Sep 2021$-13M

Dec 2021$18M

Mar 2022$39M

Jun 2022$40M

Sep 2022$18M

Dec 2022$24M

Mar 2023$28M

Jun 2023$-10M

Sep 2023$-33M

Dec 2023$-43M

Mar 2024$-19M

Jun 2024$-22M

Sep 2024$-60M

Dec 2024$-64M

Mar 2025$-55M

Jun 2025$-79M

Sep 2025$-119M

Dec 2025$-68M

Mar 2026$-52M

Jun 2026$-21M

Oshkosh Corporation · OSK

Sep 2021$-557M

Dec 2021$-177M

Mar 2022$-351M

Jun 2022$208M

Sep 2022$129M

Dec 2022$-201M

Mar 2023$58M

Jun 2023$241M

Sep 2023$997M

Dec 2023$648M

Mar 2024$1.2B

Jun 2024$1.5B

Sep 2024$1.4B

Dec 2024$757M

Mar 2025$1.3B

Jun 2025$1.3B

Sep 2025$994M

Dec 2025$621M

Mar 2026$897M

Jun 2026—

PACCAR Inc · PCAR

Sep 2021$6.1B

Dec 2021$5.4B

Mar 2022$6.0B

Jun 2022$5.8B

Sep 2022$5.5B

Dec 2022$5.2B

Mar 2023$5.9B

Jun 2023$5.8B

Sep 2023$5.3B

Dec 2023$5.2B

Mar 2024$6.0B

Jun 2024$6.4B

Sep 2024$6.2B

Dec 2024$6.1B

Mar 2025$7.3B

Jun 2025$7.5B

Sep 2025$6.6B

Dec 2025$6.1B

Mar 2026$6.1B

Jun 2026—

Terex Corporation · TEX

Sep 2021$340M

Dec 2021$407M

Mar 2022$522M

Jun 2022$575M

Sep 2022$595M

Dec 2022$472M

Mar 2023$523M

Jun 2023$439M

Sep 2023$448M

Dec 2023$252M

Mar 2024$359M

Jun 2024$347M

Sep 2024$276M

Dec 2024$2.2B

Mar 2025$2.3B

Jun 2025$2.2B

Sep 2025$2.1B

Dec 2025$1.8B

Mar 2026$2.4B

Jun 2026—

06 · compare level, then change

Return On Capital Employed

SunScout Holding Limited has the highest ROCE among the 21 Farm & Heavy Construction Machinery companies compared here, at 30.5%. Blue Bird Corporation is next at 10.4%. The same company also holds the highest ROCE change, at +14.6 percentage points. 21 of 21 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: SunScout Holding Limited leads ROCE at 30.5%, 20.1 percentage points above Blue Bird Corporation. SunScout Holding Limited has the strongest latest improvement at +14.6 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderSunScout Holding Limited · 30.5%

Gap193.3% versus #2 · Blue Bird Corporation

PersistenceNot enough history

Coverage21/21 companies · 365 observations

Investor read: SunScout Holding Limited sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1SunScout Holding Limited SNSC31%

2Blue Bird Corporation BLBD10%

3Caterpillar Inc. CAT5.5%

4Federal Signal Corporation FSS5.3%

5Deere & Company DE4.3%

ROCE changefastest improvers

1SunScout Holding Limited SNSC+14.6 pp

2Federal Signal Corporation FSS+1.0 pp

3Caterpillar Inc. CAT+0.5 pp

4AGCO Corporation AGCO+0.4 pp

5The Manitowoc Company, Inc. MTW−0.2 pp

Return on capital · company comparison

21/21 level · 21/21 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROCE	ROCE change	Reported
Blue Bird Corporation BLBD	10%	−1.8 pp	Mar 2026
Caterpillar Inc. CAT	5.5%	+0.5 pp	Mar 2026
Federal Signal Corporation FSS	5.3%	+1.0 pp	Mar 2026
Deere & Company DE	4.3%	−0.3 pp	Jun 2026
Alamo Group Inc. ALG	3.0%	−0.4 pp	Mar 2026
Lindsay Corporation LNN	2.7%	−0.9 pp	Jun 2026
PACCAR Inc PCAR	2.1%	−0.9 pp	Mar 2026
Gencor Industries, Inc. GENC	2.0%	−1.2 pp	Mar 2026
Aebi Schmidt Holding AG AEBI	1.3%	−2.1 pp	Mar 2026
Oshkosh Corporation OSK	1.2%	−1.5 pp	Mar 2026
CNH Industrial N.V. CNH	1.0%	−0.3 pp	Mar 2026
AGCO Corporation AGCO	1.0%	+0.4 pp	Mar 2026
Astec Industries, Inc. ASTE	1.0%	−1.6 pp	Mar 2026
The Manitowoc Company, Inc. MTW	0.2%	−0.2 pp	Mar 2026
Titan International, Inc. TWI	-1.1%	−2.0 pp	Mar 2026
Terex Corporation TEX	-1.2%	−3.1 pp	Mar 2026
Hyster-Yale, Inc. HY	-2.8%	−5.0 pp	Mar 2026
Columbus McKinnon Corporation CMCO	-5.4%	−5.7 pp	Mar 2026
Wabash National Corporation WNC	-5.6%	−36.9 pp	Mar 2026
CEA Industries Inc. BNC	-44%	−43.5 pp	Jun 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 20214.8%

Dec 20214.9%

Mar 20223.6%

Jun 20224.6%

Sep 20225.7%

Dec 20227.9%

Mar 20235.8%

Jun 20237.4%

Sep 20236.3%

Dec 20236.0%

Mar 20243.4%

Jun 2024-3.0%

Sep 20241.4%

Dec 2024-3.7%

Mar 20250.6%

Jun 20251.8%

Sep 20251.7%

Dec 20253.0%

Mar 20261.0%

Jun 2026—

Alamo Group Inc. · ALG

Sep 20212.9%

Dec 20212.8%

Mar 20222.7%

Jun 20223.8%

Sep 20223.3%

Dec 20224.0%

Mar 20234.1%

Jun 20234.6%

Sep 20234.2%

Dec 20233.9%

Mar 20243.7%

Jun 20243.4%

Sep 20243.2%

Dec 20242.8%

Mar 20253.4%

Jun 20253.6%

Sep 20252.8%

Dec 20251.7%

Mar 20263.0%

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 20210.9%

Dec 2021-0.9%

Mar 20220.6%

Jun 2022-0.2%

Sep 20220.3%

Dec 20220.5%

Mar 20232.5%

Jun 20232.4%

Sep 2023-0.7%

Dec 20232.5%

Mar 20240.8%

Jun 2024-1.4%

Sep 2024-0.9%

Dec 20244.5%

Mar 20252.6%

Jun 20252.7%

Sep 20250.1%

Dec 20252.5%

Mar 20261.0%

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021—

Dec 2021-1.1%

Mar 2022-0.9%

Jun 2022-8.0%

Sep 20220.5%

Dec 2022-11%

Mar 2023—

Jun 20236.3%

Sep 20238.7%

Dec 202319%

Mar 202418%

Jun 202418%

Sep 202411%

Dec 202412%

Mar 202512%

Jun 202516%

Sep 202515%

Dec 202511%

Mar 202610%

Jun 2026—

Caterpillar Inc. · CAT

Sep 20213.1%

Dec 20213.1%

Mar 20223.5%

Jun 20223.7%

Sep 20224.6%

Dec 20223.3%

Mar 20235.2%

Jun 20237.1%

Sep 20236.6%

Dec 20236.1%

Mar 20246.8%

Jun 20247.0%

Sep 20245.8%

Dec 20245.4%

Mar 20255.0%

Jun 20255.4%

Sep 20255.5%

Dec 20254.5%

Mar 20265.5%

Jun 2026—

CNH Industrial N.V. · CNH

Sep 20211.7%

Dec 20211.1%

Mar 20221.8%

Jun 20222.7%

Sep 20222.6%

Dec 20222.5%

Mar 20232.7%

Jun 20233.4%

Sep 20232.8%

Dec 20232.6%

Mar 20242.0%

Jun 20242.2%

Sep 20241.8%

Dec 20241.6%

Mar 20251.3%

Jun 20251.6%

Sep 20251.0%

Dec 20251.3%

Mar 20261.0%

Jun 2026—

Deere & Company · DE

Sep 2021—

Dec 20213.4%

Mar 20222.6%

Jun 20225.0%

Sep 20225.2%

Dec 20225.7%

Mar 20235.2%

Jun 20237.6%

Sep 20237.1%

Dec 20236.4%

Mar 20244.9%

Jun 20246.2%

Sep 20244.8%

Dec 20243.6%

Mar 20252.6%

Jun 20254.6%

Sep 20253.4%

Dec 20253.1%

Mar 20262.2%

Jun 20264.3%

Federal Signal Corporation · FSS

Sep 20213.1%

Dec 20212.7%

Mar 20222.4%

Jun 20223.9%

Sep 20223.2%

Dec 20223.7%

Mar 20233.0%

Jun 20234.4%

Sep 20234.6%

Dec 20234.6%

Mar 20243.8%

Jun 20245.5%

Sep 20245.1%

Dec 20244.8%

Mar 20254.3%

Jun 20256.2%

Sep 20255.9%

Dec 20254.6%

Mar 20265.3%

Jun 2026—

Lindsay Corporation · LNN

Sep 2021—

Dec 20212.7%

Mar 20223.7%

Jun 20226.8%

Sep 20225.3%

Dec 20224.6%

Mar 20235.0%

Jun 20234.8%

Sep 20234.0%

Dec 20233.6%

Mar 20243.6%

Jun 20243.3%

Sep 20242.2%

Dec 20243.3%

Mar 20254.9%

Jun 20253.6%

Sep 20251.7%

Dec 20253.0%

Mar 20261.9%

Jun 20262.7%

Oshkosh Corporation · OSK

Sep 20212.3%

Dec 20210.9%

Mar 20220.7%

Jun 20221.7%

Sep 20222.4%

Dec 20222.9%

Mar 20232.6%

Jun 20234.6%

Sep 20234.9%

Dec 20233.8%

Mar 20244.5%

Jun 20244.4%

Sep 20244.4%

Dec 20243.6%

Mar 20252.7%

Jun 20254.3%

Sep 20253.8%

Dec 20253.1%

Mar 20261.2%

Jun 2026—

PACCAR Inc · PCAR

Sep 20212.3%

Dec 20213.0%

Mar 20223.5%

Jun 20224.2%

Sep 20224.3%

Dec 20225.0%

Mar 20236.3%

Jun 20236.2%

Sep 20236.1%

Dec 20236.0%

Mar 20245.3%

Jun 20244.8%

Sep 20243.9%

Dec 20243.5%

Mar 20253.0%

Jun 20252.7%

Sep 20252.0%

Dec 20251.9%

Mar 20262.1%

Jun 2026—

Terex Corporation · TEX

Sep 20213.4%

Dec 20213.3%

Mar 20223.6%

Jun 20225.0%

Sep 20225.8%

Dec 20225.9%

Mar 20236.9%

Jun 20239.6%

Sep 20237.4%

Dec 20235.0%

Mar 20246.5%

Jun 20247.7%

Sep 20244.7%

Dec 20241.5%

Mar 20251.9%

Jun 20253.4%

Sep 20253.6%

Dec 20252.9%

Mar 2026-1.2%

Jun 2026—

ROCE change · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.9 pp

Dec 2022+3.0 pp

Mar 2023+2.2 pp

Jun 2023+2.8 pp

Sep 2023+0.6 pp

Dec 2023−1.9 pp

Mar 2024−2.4 pp

Jun 2024−10.4 pp

Sep 2024−4.9 pp

Dec 2024−9.7 pp

Mar 2025−2.8 pp

Jun 2025+4.8 pp

Sep 2025+0.3 pp

Dec 2025+6.7 pp

Mar 2026+0.4 pp

Jun 2026—

Alamo Group Inc. · ALG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.4 pp

Dec 2022+1.2 pp

Mar 2023+1.4 pp

Jun 2023+0.8 pp

Sep 2023+0.9 pp

Dec 2023−0.1 pp

Mar 2024−0.4 pp

Jun 2024−1.2 pp

Sep 2024−1.0 pp

Dec 2024−1.1 pp

Mar 2025−0.3 pp

Jun 2025+0.2 pp

Sep 2025−0.4 pp

Dec 2025−1.1 pp

Mar 2026−0.4 pp

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.6 pp

Dec 2022+1.4 pp

Mar 2023+1.9 pp

Jun 2023+2.6 pp

Sep 2023−1.0 pp

Dec 2023+2.0 pp

Mar 2024−1.7 pp

Jun 2024−3.8 pp

Sep 2024−0.2 pp

Dec 2024+2.0 pp

Mar 2025+1.8 pp

Jun 2025+4.1 pp

Sep 2025+1.0 pp

Dec 2025−2.0 pp

Mar 2026−1.6 pp

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−9.6 pp

Mar 2023—

Jun 2023+14.3 pp

Sep 2023+8.2 pp

Dec 2023+29.2 pp

Mar 2024—

Jun 2024+11.6 pp

Sep 2024+2.0 pp

Dec 2024−6.5 pp

Mar 2025−5.7 pp

Jun 2025−1.7 pp

Sep 2025+4.2 pp

Dec 2025−1.4 pp

Mar 2026−1.8 pp

Jun 2026—

Caterpillar Inc. · CAT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.5 pp

Dec 2022+0.2 pp

Mar 2023+1.7 pp

Jun 2023+3.4 pp

Sep 2023+2.0 pp

Dec 2023+2.8 pp

Mar 2024+1.6 pp

Jun 2024−0.1 pp

Sep 2024−0.8 pp

Dec 2024−0.7 pp

Mar 2025−1.8 pp

Jun 2025−1.6 pp

Sep 2025−0.3 pp

Dec 2025−0.9 pp

Mar 2026+0.5 pp

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.9 pp

Dec 2022+1.4 pp

Mar 2023+0.9 pp

Jun 2023+0.7 pp

Sep 2023+0.2 pp

Dec 2023+0.1 pp

Mar 2024−0.7 pp

Jun 2024−1.2 pp

Sep 2024−1.0 pp

Dec 2024−1.0 pp

Mar 2025−0.7 pp

Jun 2025−0.6 pp

Sep 2025−0.8 pp

Dec 2025−0.3 pp

Mar 2026−0.3 pp

Jun 2026—

Deere & Company · DE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+2.3 pp

Mar 2023+2.6 pp

Jun 2023+2.6 pp

Sep 2023+1.9 pp

Dec 2023+0.7 pp

Mar 2024−0.3 pp

Jun 2024−1.4 pp

Sep 2024−2.3 pp

Dec 2024−2.8 pp

Mar 2025−2.3 pp

Jun 2025−1.6 pp

Sep 2025−1.4 pp

Dec 2025−0.5 pp

Mar 2026−0.4 pp

Jun 2026−0.3 pp

Federal Signal Corporation · FSS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.1 pp

Dec 2022+1.0 pp

Mar 2023+0.6 pp

Jun 2023+0.5 pp

Sep 2023+1.4 pp

Dec 2023+0.9 pp

Mar 2024+0.8 pp

Jun 2024+1.1 pp

Sep 2024+0.5 pp

Dec 2024+0.2 pp

Mar 2025+0.5 pp

Jun 2025+0.7 pp

Sep 2025+0.8 pp

Dec 2025−0.2 pp

Mar 2026+1.0 pp

Jun 2026—

Lindsay Corporation · LNN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+1.9 pp

Mar 2023+1.3 pp

Jun 2023−2.0 pp

Sep 2023−1.3 pp

Dec 2023−1.0 pp

Mar 2024−1.4 pp

Jun 2024−1.5 pp

Sep 2024−1.8 pp

Dec 2024−0.3 pp

Mar 2025+1.3 pp

Jun 2025+0.3 pp

Sep 2025−0.5 pp

Dec 2025−0.3 pp

Mar 2026−3.0 pp

Jun 2026−0.9 pp

Oshkosh Corporation · OSK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.1 pp

Dec 2022+2.0 pp

Mar 2023+1.9 pp

Jun 2023+2.9 pp

Sep 2023+2.5 pp

Dec 2023+0.9 pp

Mar 2024+1.9 pp

Jun 2024−0.2 pp

Sep 2024−0.5 pp

Dec 2024−0.2 pp

Mar 2025−1.8 pp

Jun 2025−0.1 pp

Sep 2025−0.6 pp

Dec 2025−0.5 pp

Mar 2026−1.5 pp

Jun 2026—

PACCAR Inc · PCAR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+2.0 pp

Dec 2022+2.0 pp

Mar 2023+2.8 pp

Jun 2023+2.0 pp

Sep 2023+1.8 pp

Dec 2023+1.0 pp

Mar 2024−1.0 pp

Jun 2024−1.4 pp

Sep 2024−2.2 pp

Dec 2024−2.5 pp

Mar 2025−2.3 pp

Jun 2025−2.1 pp

Sep 2025−1.9 pp

Dec 2025−1.6 pp

Mar 2026−0.9 pp

Jun 2026—

Terex Corporation · TEX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+2.4 pp

Dec 2022+2.6 pp

Mar 2023+3.3 pp

Jun 2023+4.6 pp

Sep 2023+1.6 pp

Dec 2023−0.9 pp

Mar 2024−0.4 pp

Jun 2024−1.9 pp

Sep 2024−2.7 pp

Dec 2024−3.5 pp

Mar 2025−4.6 pp

Jun 2025−4.3 pp

Sep 2025−1.1 pp

Dec 2025+1.4 pp

Mar 2026−3.1 pp

Jun 2026—

07 · compare level, then change

Valuation Against Growth & Quality

The Manitowoc Company, Inc. has the lowest Guarded PEG among the 21 Farm & Heavy Construction Machinery companies compared here, at 0.14×. CNH Industrial N.V. is next at 0.46×. CEA Industries Inc. has the lowest P/E at 1.23×, so level and change sit with different companies. 14 of 21 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: The Manitowoc Company, Inc. has the lowest comparable Guarded PEG at 0.14×, 69.6% below CNH Industrial N.V.. Only 14 of 21 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderThe Manitowoc Company, Inc. · 0.14×

Gap69.6% versus #2 · CNH Industrial N.V.

Persistence0/8 recent comparable periods

Coverage14/21 companies · 69 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

Guarded PEGlowest PEG

1The Manitowoc Company, Inc. MTW0.1

2CNH Industrial N.V. CNH0.5

3Blue Bird Corporation BLBD0.5

4AGCO Corporation AGCO0.6

5Terex Corporation TEX0.7

P/Elowest P/E

1CEA Industries Inc. BNC1.2

2Wabash National Corporation WNC1.7

3AGCO Corporation AGCO11.2

4Blue Bird Corporation BLBD13.5

5Oshkosh Corporation OSK16.4

Valuation · company comparison

14/21 level · 20/21 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Guarded PEG	P/E	Reported
Columbus McKinnon Corporation CMCO	4.1	82.1	Mar 2026
Lindsay Corporation LNN	2.0	21.0	Jun 2026
Caterpillar Inc. CAT	1.7	35.3	Mar 2026
PACCAR Inc PCAR	1.5	24.6	Mar 2026
Alamo Group Inc. ALG	1.4	19.7	Mar 2026
Gencor Industries, Inc. GENC	1.3	17.1	Mar 2026
Deere & Company DE	1.0	32.7	Jun 2026
Federal Signal Corporation FSS	0.9	24.6	Mar 2026
Oshkosh Corporation OSK	0.7	16.4	Mar 2026
Terex Corporation TEX	0.7	28.3	Mar 2026
AGCO Corporation AGCO	0.6	11.2	Mar 2026
Hyster-Yale, Inc. HY	0.6	263.3	Mar 2026
Blue Bird Corporation BLBD	0.5	13.5	Mar 2026
CNH Industrial N.V. CNH	0.5	35.5	Mar 2026
Titan International, Inc. TWI	0.4	16.8	Mar 2026
Wabash National Corporation WNC	0.2	1.7	Mar 2026
The Manitowoc Company, Inc. MTW	0.1	58.3	Mar 2026
Astec Industries, Inc. ASTE	—	48.1	Mar 2026
Aebi Schmidt Holding AG AEBI	—	80.9	Mar 2026
CEA Industries Inc. BNC	—	1.2	Jun 2026

Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20231.2

Jun 20230.2

Sep 20230.2

Dec 20230.2

Mar 20240.6

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Alamo Group Inc. · ALG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.4

Jun 20230.4

Sep 20230.4

Dec 20230.6

Mar 20241.4

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.2

Jun 20250.4

Sep 20250.7

Dec 20250.6

Mar 20260.5

Jun 2026—

Caterpillar Inc. · CAT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20231.3

Jun 20230.5

Sep 20230.6

Dec 20230.3

Mar 2024—

Jun 20240.4

Sep 20240.8

Dec 20241.7

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

CNH Industrial N.V. · CNH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.2

Jun 20230.2

Sep 20230.2

Dec 20230.5

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Deere & Company · DE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.2

Sep 2023—

Dec 20230.2

Mar 20240.4

Jun 20241.0

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Federal Signal Corporation · FSS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.9

Jun 20230.9

Sep 20230.6

Dec 20231.0

Mar 20240.7

Jun 20240.5

Sep 20240.6

Dec 20240.7

Mar 20251.4

Jun 20253.3

Sep 20252.8

Dec 20251.9

Mar 20260.9

Jun 2026—

Hyster-Yale, Inc. · HY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.2

Dec 20240.6

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Lindsay Corporation · LNN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.6

Sep 20231.9

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20251.6

Jun 20253.6

Sep 20251.6

Dec 20252.0

Mar 2026—

Jun 2026—

Oshkosh Corporation · OSK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.3

Dec 20240.7

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

PACCAR Inc · PCAR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.2

Jun 2023—

Sep 20230.2

Dec 20230.2

Mar 2024—

Jun 20240.3

Sep 20241.5

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Terex Corporation · TEX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.2

Jun 20240.7

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

P/E · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 202112.4

Dec 20219.8

Mar 202212.3

Jun 20229.4

Sep 20228.5

Dec 202211.7

Mar 202310.5

Jun 20238.9

Sep 20237.7

Dec 20237.8

Mar 20248.3

Jun 202417.5

Sep 202443.3

Dec 2024—

Mar 2025—

Jun 202577.0

Sep 202521.3

Dec 202510.7

Mar 202611.2

Jun 2026—

Alamo Group Inc. · ALG

Sep 202123.6

Dec 202121.8

Mar 202221.1

Jun 202216.6

Sep 202215.8

Dec 202216.6

Mar 202318.8

Jun 202317.7

Sep 202315.5

Dec 202318.5

Mar 202420.3

Jun 202416.4

Sep 202418.1

Dec 202419.3

Mar 202518.6

Jun 202522.2

Sep 202519.8

Dec 202519.5

Mar 202619.7

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 202130.1

Dec 2021100.4

Mar 202287.8

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023117.9

Jun 202341.3

Sep 202360.4

Dec 202325.3

Mar 202440.1

Jun 2024—

Sep 2024—

Dec 2024176.8

Mar 202552.2

Jun 202521.0

Sep 202523.1

Dec 202525.8

Mar 202648.1

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202328.9

Dec 202314.2

Mar 202415.5

Jun 202417.8

Sep 202415.3

Dec 202412.2

Mar 202510.2

Jun 202512.3

Sep 202514.9

Dec 202512.8

Mar 202613.5

Jun 2026—

Caterpillar Inc. · CAT

Sep 202120.5

Dec 202117.5

Mar 202218.7

Jun 202214.3

Sep 202211.9

Dec 202219.0

Mar 202316.9

Jun 202315.3

Sep 202315.5

Dec 202314.7

Mar 202416.5

Jun 202415.2

Sep 202418.1

Dec 202416.5

Mar 202516.1

Jun 202519.8

Sep 202524.5

Dec 202530.5

Mar 202635.3

Jun 2026—

CNH Industrial N.V. · CNH

Sep 202115.7

Dec 202115.3

Mar 202214.3

Jun 202210.5

Sep 20228.8

Dec 202210.8

Mar 20239.6

Jun 20238.4

Sep 20237.1

Dec 20237.2

Mar 20247.9

Jun 20247.0

Sep 20248.6

Dec 202412.7

Mar 202515.4

Jun 202519.9

Sep 202523.1

Dec 202523.6

Mar 202635.5

Jun 2026—

Deere & Company · DE

Sep 2021—

Dec 202118.0

Mar 202220.7

Jun 202219.7

Sep 202217.2

Dec 202217.1

Mar 202315.5

Jun 202312.7

Sep 202312.6

Dec 202310.4

Mar 202411.5

Jun 202411.8

Sep 202413.2

Dec 202415.9

Mar 202521.2

Jun 202522.2

Sep 202527.1

Dec 202525.0

Mar 202629.8

Jun 202632.7

Federal Signal Corporation · FSS

Sep 202122.3

Dec 202126.6

Mar 202221.1

Jun 202221.3

Sep 202221.7

Dec 202223.6

Mar 202325.9

Jun 202329.1

Sep 202325.0

Dec 202330.0

Mar 202428.7

Jun 202425.4

Sep 202427.1

Dec 202426.4

Mar 202521.5

Jun 202529.6

Sep 202531.1

Dec 202527.1

Mar 202624.6

Jun 2026—

Lindsay Corporation · LNN

Sep 2021—

Dec 202136.9

Mar 202231.4

Jun 202226.0

Sep 202227.0

Dec 202225.7

Mar 202321.0

Jun 202318.3

Sep 202319.0

Dec 202319.1

Mar 202419.0

Jun 202417.4

Sep 202420.6

Dec 202421.3

Mar 202518.8

Jun 202520.0

Sep 202520.2

Dec 202517.0

Mar 202624.7

Jun 202621.0

Oshkosh Corporation · OSK

Sep 202113.9

Dec 202116.9

Mar 202221.0

Jun 202238.0

Sep 202238.0

Dec 202233.5

Mar 202320.9

Jun 202314.0

Sep 202312.0

Dec 202311.9

Mar 202411.9

Jun 202410.5

Sep 20249.7

Dec 20249.2

Mar 202510.1

Jun 202511.4

Sep 202512.7

Dec 202512.5

Mar 202616.4

Jun 2026—

PACCAR Inc · PCAR

Sep 202115.7

Dec 202116.5

Mar 202215.4

Jun 202213.0

Sep 202211.2

Dec 202211.5

Mar 202312.2

Jun 202312.0

Sep 202310.9

Dec 202311.2

Mar 202412.9

Jun 202410.9

Sep 202411.7

Dec 202413.2

Mar 202516.0

Jun 202517.8

Sep 202519.2

Dec 202524.3

Mar 202624.6

Jun 2026—

Terex Corporation · TEX

Sep 202116.9

Dec 202114.1

Mar 202210.9

Jun 20228.3

Sep 20227.7

Dec 20229.9

Mar 20239.2

Jun 20239.2

Sep 20238.1

Dec 20237.6

Mar 20248.5

Jun 20247.5

Sep 20247.7

Dec 20249.3

Mar 202510.3

Jun 202517.4

Sep 202521.8

Dec 202516.0

Mar 202628.3

Jun 2026—

08 · compare level, then change

Enterprise Value & Book Value

CEA Industries Inc. has the lowest EV/EBITDA among the 21 Farm & Heavy Construction Machinery companies compared here, at 0.52×. Wabash National Corporation is next at 2.08×. Columbus McKinnon Corporation has the lowest P/BV at 0.29×, so level and change sit with different companies. 20 of 21 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: CEA Industries Inc. leads ev/ebitda at 0.52×; Columbus McKinnon Corporation leads p/bv at 0.29×.

LeaderCEA Industries Inc. · 0.52×

Gap75% versus #2 · Wabash National Corporation

Persistence4/8 recent comparable periods

Coverage20/21 companies · 339 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

EV/EBITDAlowest EV/EBITDA

1CEA Industries Inc. BNC0.5

2Wabash National Corporation WNC2.1

3Gencor Industries, Inc. GENC5.2

4The Manitowoc Company, Inc. MTW7.4

5Blue Bird Corporation BLBD8.1

P/BVlowest P/BV

1Columbus McKinnon Corporation CMCO0.3

2CEA Industries Inc. BNC0.4

3The Manitowoc Company, Inc. MTW0.6

4Titan International, Inc. TWI0.9

5Aebi Schmidt Holding AG AEBI0.9

Enterprise and book valuation · company comparison

20/21 level · 20/21 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	EV/EBITDA	P/BV	Reported
Hyster-Yale, Inc. HY	27.2	1.4	Mar 2026
Caterpillar Inc. CAT	26.1	17.5	Mar 2026
Columbus McKinnon Corporation CMCO	23.5	0.3	Mar 2026
PACCAR Inc PCAR	18.7	3.1	Mar 2026
Deere & Company DE	18.4	5.7	Jun 2026
Terex Corporation TEX	17.4	1.4	Mar 2026
CNH Industrial N.V. CNH	16.6	1.8	Mar 2026
Titan International, Inc. TWI	16.0	0.9	Mar 2026
Astec Industries, Inc. ASTE	15.8	1.8	Mar 2026
Federal Signal Corporation FSS	15.4	4.6	Mar 2026
Lindsay Corporation LNN	12.9	2.2	Jun 2026
Aebi Schmidt Holding AG AEBI	11.4	0.9	Mar 2026
AGCO Corporation AGCO	11.3	2.0	Mar 2026
Alamo Group Inc. ALG	10.2	1.7	Mar 2026
Oshkosh Corporation OSK	9.4	2.1	Mar 2026
Blue Bird Corporation BLBD	8.1	5.9	Mar 2026
The Manitowoc Company, Inc. MTW	7.4	0.6	Mar 2026
Gencor Industries, Inc. GENC	5.2	1.0	Mar 2026
Wabash National Corporation WNC	2.1	1.1	Mar 2026
CEA Industries Inc. BNC	0.5	0.4	Jun 2026

Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 20218.7

Dec 20217.3

Mar 20229.6

Jun 20227.3

Sep 20226.6

Dec 20227.3

Mar 20236.8

Jun 20236.0

Sep 20235.0

Dec 20235.0

Mar 20245.6

Jun 20249.6

Sep 202413.0

Dec 202444.8

Mar 2025—

Jun 202527.6

Sep 202524.4

Dec 202510.4

Mar 202611.3

Jun 2026—

Alamo Group Inc. · ALG

Sep 202112.4

Dec 202112.2

Mar 202212.1

Jun 20229.7

Sep 20229.8

Dec 20229.9

Mar 202311.4

Jun 202310.6

Sep 20239.3

Dec 202311.0

Mar 202412.0

Jun 20249.4

Sep 20249.9

Dec 202410.4

Mar 202510.0

Jun 202512.0

Sep 202510.4

Dec 20259.3

Mar 202610.2

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 202124.0

Dec 202128.7

Mar 202219.9

Jun 202228.4

Sep 202226.2

Dec 202226.5

Mar 202319.9

Jun 202315.8

Sep 202318.8

Dec 202311.6

Mar 202416.9

Jun 202421.0

Sep 202423.4

Dec 202415.8

Mar 202512.5

Jun 202510.0

Sep 202512.7

Dec 202512.4

Mar 202615.8

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021—

Dec 202139.2

Mar 202237.1

Jun 20223,854.0

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202352.2

Dec 20238.0

Mar 20248.6

Jun 202411.1

Sep 20249.9

Dec 20248.2

Mar 20256.8

Jun 20258.1

Sep 20259.4

Dec 20257.8

Mar 20268.1

Jun 2026—

Caterpillar Inc. · CAT

Sep 202114.5

Dec 202115.1

Mar 202216.2

Jun 202213.4

Sep 202211.4

Dec 202215.2

Mar 202313.5

Jun 202312.2

Sep 202312.4

Dec 202311.8

Mar 202413.4

Jun 202412.4

Sep 202414.3

Dec 202413.5

Mar 202513.3

Jun 202515.9

Sep 202518.9

Dec 202522.4

Mar 202626.1

Jun 2026—

CNH Industrial N.V. · CNH

Sep 202125.6

Dec 202116.7

Mar 202212.4

Jun 20224.6

Sep 202210.2

Dec 202210.7

Mar 202310.2

Jun 20239.6

Sep 20238.7

Dec 20232.4

Mar 20249.4

Jun 20249.3

Sep 202410.4

Dec 20249.4

Mar 202512.8

Jun 202514.3

Sep 202515.0

Dec 202511.5

Mar 202616.6

Jun 2026—

Deere & Company · DE

Sep 2021—

Dec 202113.6

Mar 202215.4

Jun 202215.6

Sep 202214.0

Dec 202213.7

Mar 202312.7

Jun 202310.6

Sep 202310.6

Dec 20239.0

Mar 20249.5

Jun 20249.8

Sep 202410.2

Dec 202411.4

Mar 202513.9

Jun 202514.4

Sep 202516.6

Dec 202515.4

Mar 202617.1

Jun 202618.4

Federal Signal Corporation · FSS

Sep 202113.9

Dec 202116.1

Mar 202212.9

Jun 202212.9

Sep 202213.1

Dec 202214.7

Mar 202316.1

Jun 202317.7

Sep 202314.9

Dec 202317.3

Mar 202418.1

Jun 202416.6

Sep 202417.5

Dec 202416.8

Mar 202513.1

Jun 202517.5

Sep 202518.4

Dec 202517.0

Mar 202615.4

Jun 2026—

Lindsay Corporation · LNN

Sep 2021—

Dec 202120.5

Mar 202218.1

Jun 202214.9

Sep 202215.5

Dec 202215.6

Mar 202312.5

Jun 202310.2

Sep 202311.0

Dec 202310.8

Mar 202411.4

Jun 202411.5

Sep 202413.1

Dec 202414.1

Mar 202512.8

Jun 202512.9

Sep 202512.5

Dec 202510.7

Mar 202615.1

Jun 202612.9

Oshkosh Corporation · OSK

Sep 20219.2

Dec 2021107.2

Mar 202212.9

Jun 202215.5

Sep 202212.6

Dec 202211.6

Mar 20239.4

Jun 20237.9

Sep 20238.0

Dec 20237.8

Mar 20248.2

Jun 20247.2

Sep 20246.6

Dec 20245.7

Mar 20256.5

Jun 20257.3

Sep 20257.9

Dec 20257.3

Mar 20269.4

Jun 2026—

PACCAR Inc · PCAR

Sep 202110.6

Dec 202112.3

Mar 202211.1

Jun 20229.7

Sep 20228.7

Dec 20228.9

Mar 20238.5

Jun 20238.5

Sep 20237.7

Dec 20238.2

Mar 202411.0

Jun 20249.5

Sep 20249.7

Dec 202410.4

Mar 202511.1

Jun 202512.2

Sep 202513.8

Dec 202516.8

Mar 202618.7

Jun 2026—

Terex Corporation · TEX

Sep 20219.5

Dec 20219.1

Mar 20227.7

Jun 20226.5

Sep 20226.2

Dec 20227.1

Mar 20237.0

Jun 20236.8

Sep 20236.2

Dec 20235.8

Mar 20246.6

Jun 20245.8

Sep 20245.8

Dec 20248.6

Mar 20258.8

Jun 202510.4

Sep 20259.9

Dec 20258.3

Mar 202617.4

Jun 2026—

P/BV · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGCO Corporation · AGCO

Sep 20212.9

Dec 20212.5

Mar 20223.0

Jun 20222.2

Sep 20222.0

Dec 20222.7

Mar 20232.5

Jun 20232.4

Sep 20232.0

Dec 20231.9

Mar 20241.9

Jun 20241.8

Sep 20241.8

Dec 20241.9

Mar 20251.8

Jun 20251.9

Sep 20251.8

Dec 20251.8

Mar 20262.0

Jun 2026—

Alamo Group Inc. · ALG

Sep 20212.4

Dec 20212.5

Mar 20222.4

Jun 20221.9

Sep 20222.0

Dec 20222.2

Mar 20232.7

Jun 20232.5

Sep 20232.3

Dec 20232.7

Mar 20242.9

Jun 20242.1

Sep 20242.1

Dec 20242.2

Mar 20252.0

Jun 20252.4

Sep 20252.0

Dec 20251.8

Mar 20261.7

Jun 2026—

Astec Industries, Inc. · ASTE

Sep 20211.9

Dec 20212.4

Mar 20221.5

Jun 20221.5

Sep 20221.1

Dec 20221.5

Mar 20231.5

Jun 20231.6

Sep 20231.7

Dec 20231.3

Mar 20241.5

Jun 20241.1

Sep 20241.2

Dec 20241.2

Mar 20251.2

Jun 20251.4

Sep 20251.7

Dec 20251.5

Mar 20261.8

Jun 2026—

Blue Bird Corporation · BLBD

Sep 2021—

Dec 2021-17.8

Mar 202213.0

Jun 202220.9

Sep 202212.6

Dec 2022193.5

Mar 2023—

Jun 2023-552.9

Sep 202369.1

Dec 202311.5

Mar 202411.1

Jun 202412.7

Sep 20249.8

Dec 20247.1

Mar 20255.5

Jun 20256.1

Sep 20257.2

Dec 20255.9

Mar 20265.9

Jun 2026—

Caterpillar Inc. · CAT

Sep 20216.2

Dec 20216.7

Mar 20227.0

Jun 20226.0

Sep 20225.4

Dec 20227.8

Mar 20236.5

Jun 20236.8

Sep 20236.8

Dec 20237.6

Mar 202410.2

Jun 20249.4

Sep 20249.7

Dec 20248.9

Mar 20258.6

Jun 20259.8

Sep 202510.8

Dec 202512.5

Mar 202617.5

Jun 2026—

CNH Industrial N.V. · CNH

Sep 20212.9

Dec 20213.9

Mar 20223.4

Jun 20222.5

Sep 20222.4

Dec 20222.9

Mar 20232.8

Jun 20232.6

Sep 20232.0

Dec 20231.8

Mar 20242.1

Jun 20241.7

Sep 20241.8

Dec 20241.7

Mar 20252.0

Jun 20252.1

Sep 20251.8

Dec 20251.4

Mar 20261.8

Jun 2026—

Deere & Company · DE

Sep 2021—

Dec 20215.7

Mar 20226.4

Jun 20226.1

Sep 20225.4

Dec 20225.9

Mar 20235.8

Jun 20235.0

Sep 20235.3

Dec 20234.7

Mar 20245.0

Jun 20244.8

Sep 20244.6

Dec 20244.9

Mar 20255.8

Jun 20255.1

Sep 20255.6

Dec 20254.8

Mar 20265.4

Jun 20265.7

Federal Signal Corporation · FSS

Sep 20213.1

Dec 20213.4

Mar 20222.6

Jun 20222.7

Sep 20222.7

Dec 20223.3

Mar 20233.7

Jun 20234.2

Sep 20233.8

Dec 20234.7

Mar 20245.0

Jun 20244.7

Sep 20245.0

Dec 20244.8

Mar 20253.7

Jun 20255.1

Sep 20255.5

Dec 20254.8

Mar 20264.6

Jun 2026—

Lindsay Corporation · LNN

Sep 2021—

Dec 20214.7

Mar 20224.0

Jun 20223.6

Sep 20224.5

Dec 20224.8

Mar 20233.9

Jun 20233.0

Sep 20233.0

Dec 20232.8

Mar 20242.7

Jun 20242.6

Sep 20242.8

Dec 20243.0

Mar 20252.8

Jun 20252.9

Sep 20252.8

Dec 20252.4

Mar 20262.8

Jun 20262.2

Oshkosh Corporation · OSK

Sep 20212.1

Dec 20212.4

Mar 20222.2

Jun 20221.9

Sep 20221.6

Dec 20221.8

Mar 20231.7

Jun 20231.7

Sep 20231.8

Dec 20231.9

Mar 20242.1

Jun 20241.8

Sep 20241.6

Dec 20241.5

Mar 20251.4

Jun 20251.6

Sep 20251.8

Dec 20251.7

Mar 20262.1

Jun 2026—

PACCAR Inc · PCAR

Sep 20212.4

Dec 20212.6

Mar 20222.5

Jun 20222.3

Sep 20222.3

Dec 20222.6

Mar 20232.8

Jun 20232.9

Sep 20232.8

Dec 20233.2

Mar 20243.9

Jun 20243.1

Sep 20242.8

Dec 20243.1

Mar 20252.8

Jun 20252.6

Sep 20252.7

Dec 20253.0

Mar 20263.1

Jun 2026—

Terex Corporation · TEX

Sep 20212.8

Dec 20212.7

Mar 20222.2

Jun 20221.8

Sep 20221.9

Dec 20222.4

Mar 20232.5

Jun 20232.8

Sep 20232.6

Dec 20232.3

Mar 20242.5

Jun 20242.0

Sep 20241.8

Dec 20241.7

Mar 20251.3

Jun 20251.5

Sep 20251.7

Dec 20251.7

Mar 20261.4

Jun 2026—

09 · let price answer last

Market action

Caterpillar Inc. has the strongest one-year price move in Farm & Heavy Construction Machinery at +96.1%. Wabash National Corporation leads on Mansfield relative strength against the S&P 500 at +26.1%. 11 of 20 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Farm & Heavy Construction Machinery comparison names 4 specific ways its own evidence can mislead, all listed below. All 21 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

10 · the complete set

Which companies are included?

All 21 companies in the canonical Farm & Heavy Construction Machinery membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals
Caterpillar Inc. CAT25/26 WEEKS	$387.3B	$841	2026-07-28	Mar 2026
Deere & Company DEAHEAD	$172.7B	$640	2026-07-28	Jun 2026
PACCAR Inc PCARAHEAD	$72.7B	$138	2026-07-28	Mar 2026
CNH Industrial N.V. CNH	$14.2B	$11.4	2026-07-28	Mar 2026
Oshkosh Corporation OSK	$9.5B	$153	2026-07-28	Mar 2026
AGCO Corporation AGCO	$9.0B	$124	2026-07-28	Mar 2026
Terex Corporation TEXAHEAD18/26 WEEKS	$7.8B	$68.7	2026-07-28	Mar 2026
Federal Signal Corporation FSSLAGGING, FUNDAMENTALS UP	$7.2B	$118	2026-07-28	Mar 2026
Blue Bird Corporation BLBDAHEAD26/26 WEEKS	$2.3B	$73.9	2026-07-28	Mar 2026
Alamo Group Inc. ALG	$2.0B	$164	2026-07-28	Mar 2026
Astec Industries, Inc. ASTE	$1.3B	$54.9	2026-07-28	Mar 2026
Lindsay Corporation LNN	$1.2B	$115	2026-07-28	Jun 2026
Aebi Schmidt Holding AG AEBIAHEAD	$1.1B	$13.8	2026-07-28	Mar 2026
Hyster-Yale, Inc. HY	$615M	$34.3	2026-07-28	Mar 2026
Wabash National Corporation WNCAHEAD	$541M	$13.3	2026-07-28	Mar 2026
Titan International, Inc. TWI	$530M	$8.2	2026-07-28	Mar 2026
The Manitowoc Company, Inc. MTWAHEAD	$527M	$14.7	2026-07-28	Mar 2026
Columbus McKinnon Corporation CMCO	$462M	$16.2	2026-07-28	Mar 2026
Gencor Industries, Inc. GENC	$221M	$15.1	2026-07-28	Mar 2026
SunScout Holding Limited SNSC	$132M	—	—	—
CEA Industries Inc. BNC	$118M	$2.9	2026-07-28	Jun 2026

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 21 Farm & Heavy Construction Machinery companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-28.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-07-28 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Questions investors ask · short, speakable answers

Farm & Heavy Construction Machinery company comparison FAQs

These 18 answers restate the Farm & Heavy Construction Machinery comparison above in question form. Every one is computed from the same 21 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Farm & Heavy Construction Machinery company is the biggest?

Caterpillar Inc. is the largest, with trailing-twelve-month revenue of $70,755 million, ahead of Deere & Company at $47,392 million. That covers 20 of 21 companies with comparable reporting through Mar 2026.

Which Farm & Heavy Construction Machinery company is growing fastest?

Aebi Schmidt Holding AG has the fastest revenue growth at 61.2% year on year, across 19 of 21 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Farm & Heavy Construction Machinery company has the best profit margins?

Deere & Company has the highest operating margin at 22.5%, from 20 of 21 comparable companies. Blue Bird Corporation shows the biggest recent improvement, at +1.7 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Farm & Heavy Construction Machinery company makes the most profit?

Caterpillar Inc. earns the most, at $9,318 million of trailing-twelve-month net profit, from 20 of 21 comparable companies. Astec Industries, Inc. has the fastest profit growth at 73.3%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Farm & Heavy Construction Machinery company earns the highest return on capital?

SunScout Holding Limited leads on return on capital employed at 30.5%, across 21 of 21 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Farm & Heavy Construction Machinery stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — The Manitowoc Company, Inc. screens cheapest at 0.14×. Only 14 of 21 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Farm & Heavy Construction Machinery company has the strongest balance sheet?

Gencor Industries, Inc. carries the lowest comparable gross debt at $0 million, from 20 of 21 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Farm & Heavy Construction Machinery company is investing most in new capacity?

Deere & Company reports the largest capital spending at $1,058 million, across 20 of 21 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Farm & Heavy Construction Machinery sector beating the market?

Farm & Heavy Construction Machinery has underperformed S&P 500 by 4.6% over the last 52 weeks and 4.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 11 of 20 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Farm & Heavy Construction Machinery stock has the strongest price momentum?

Wabash National Corporation has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Farm & Heavy Construction Machinery company scores highest for research priority?

Blue Bird Corporation scores 67 out of 100 with 82% evidence confidence, from 20.7 points on growth and earnings, 15.6 on capital efficiency, 15.4 on valuation and 15.3 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Farm & Heavy Construction Machinery companies does this comparison cover, and over what period?

It compares 21 listed companies over up to 20 reported quarters of fundamentals and 5 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Farm & Heavy Construction Machinery sector?

The 21 Farm & Heavy Construction Machinery companies on this page carry $691,404 million of combined market value. Caterpillar Inc. is the largest at $387,289 million, about 56% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Farm & Heavy Construction Machinery sector's P/E ratio?

The median price-to-earnings ratio across the 21 Farm & Heavy Construction Machinery companies on this page is 24.6×, measured on the 20 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Farm & Heavy Construction Machinery sector performing?

11 of the 20 covered Farm & Heavy Construction Machinery companies are beating S&P 500 on Mansfield relative strength. The sector itself is 4.6% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Farm & Heavy Construction Machinery stocks are listed in the US?

This comparison covers 21 listed Farm & Heavy Construction Machinery companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.