Financial Metrics that Will Help You Manage Risk
Your Income statement is helpful for understanding profitability but it doesn’t show the full picture
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Mike Hedge
Founded in 1954, Birkey’s Farm Store is a 19-location dealer group across 3 states supporting Case IH and Case Construction at 18 locations in Illinois, Missouri and Indiana, which 500-employee operation generated $425 million in 2023. Mike Hedge, a CPA, joined the dealer group in 1992 and was named president/CEO in 2015 before retiring at the beginning of 2024. Birkey’s was the 2007 Farm Equipment Dealership of the Year, and grew 600% during a 12-year period without outside capital by diligently managing the balance sheet and the activities that drive cashflow and asset turns. On numerous occasions, Birkey’s then-CEO, Ron Birkey, referred to Mike as “the best financial mind in all of the farm equipment industry.” An “evangelist of balance sheet management,” Hedge is known for an ability to connect financial principles to employees across a spectrum of disciplines and backgrounds. He has shared his knowledge on numerous occasions as a keynote speaker at Farm Equipment’s Dealership Minds Summit.
ARTICLES
How Leverage & Inventory Turnover Keep the Balance Sheet in Order
This executive shares his approach to teaching employees throughout the dealership the importance of leverage and turnover, the guard rails for keeping the balance sheet — and dealership — on track.
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Yetter Farm Equipment
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
Machinery Scope
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.
Finance Scope
Finance Scope is able to provide the best financing opportunities for equipment dealers and customers through a diverse mix of lending companies under one single platform. Our large group of lenders, allows for competitive rates regardless of credit scores. Additionally, dealers and customers have access to the industry’s best expertise surrounding finance and lease structures, for all purposes, within the agricultural and construction industries. We provide all of this into one online platform to provide our customers with the best available tailored finance solution for their equipment.