Manufacturing news outlet IndustryWeek recently unveiled its highly anticipated U.S. 500 report, a ranking that highlights the top manufacturing companies across various industries in the U.S.

Since 2002, this annual report not only serves as a benchmark for performance and competitiveness but also offers insights into the economic landscape shaped by these companies. This year’s report included 4 ag equipment manufacturers and 1 dealer, displaying their 2023 revenue, revenue growth, net income and profit margin.

Ranked at 20 and with a revenue of $61.222 billion in 2023, a 16.5% increase from the previous year, Deere not only topped the list among agricultural companies but also boasted the highest profit margin at 16.6%.

Despite a slight dip in profit margin compared to the previous year’s 23.8%, Deere moved up the rankings by 15 spots.

Ranked at 100, AGCO’s revenue of $14.4 billion reflected 13.9% revenue growth in 2023. AGCO’s profit margin stood at 8.1%, supported by a net income of $1.17 billion.

This performance propelled AGCO up 29 spots from its 2023 ranking.

Case IH Dealer group Titan Machinery experienced a surge in revenue, achieving $2.8 billion in 2023 — a 61.1% increase from the previous year. Titan Machinery had a profit margin of 4.1 percent and reported a net income of $112 million.

Coming in at 464, Alamo Group reported a revenue of $1.690 billion, reflecting an 11.6% increase from the previous year. With a profit margin matching AGCO at 8.10%, Alamo Group recorded a net income of $136 million.

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