DEERE & CO DE

Industrials SIC 3523 - Farm Machinery & Equipment NAICS Manufacturing › Machinery Manufacturing › Agriculture, Construction, and Mining Machinery Manufacturing › Agricultural Implement Manufacturing › Farm Machinery and Equipment Manufacturing derived NYSE

John Deere has manufactured agricultural equipment since 1837. Deere & Company was incorporated under the laws of Delaware in 1958. Our business is managed through the following four business segments: Production & Precision Agriculture (PPA), Small Agriculture & Turf (SAT), Construction & Forestry (CF), and Financial Services (John Deere Financial or FS).

Our Smart Industrial Operating Model aims to deliver greater value for our customers, accelerate our competitive advantage in advanced technologies, build on our fundamental manufacturing strengths and core values, and capitalize on opportunities that lie ahead by leveraging advanced technologies with our operational excellence. To drive these outcomes, we are focused on the following three pillars:

Last close 646.15 2026-10-23
Market cap $174.22B 2026-08-02 share count
52-week range 454.50 - 721.22

Valuation FY2025 figures against the last close

P/S3.8x
P/E34.9x
P/FCF28.6x
EV/EBITDA—
Dividend yield1.0%
Diluted EPS18.50

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Western Europe
  • Latin America
  • Asia, Africa, Oceania, and Middle East
  • Canada
  • Central Europe and CIS
Revenue by geography, 6 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 24B (52.5%) 52% United States Western Europe, FY2025: 6.5B (14.3%) 14% Western Europe Latin America, FY2025: 5.6B (12.3%) 12% Latin America Asia, Africa, Oceania, and Middle East, FY2025: 4.2B (9.3%) 9% Canada, FY2025: 3.7B (8.2%) 8% Canada Central Europe and CIS, FY2025: 1.6B (3.4%) 3% FY2024 United States, FY2024: 30.2B (58.5%) 58% Western Europe, FY2024: 6.2B (12.0%) 12% Latin America, FY2024: 5.5B (10.7%) 11% Asia, Africa, Oceania, and Middle East, FY2024: 4.4B (8.4%) 8% Canada, FY2024: 3.9B (7.5%) 8% Central Europe and CIS, FY2024: 1.5B (2.9%) FY2023 United States, FY2023: 34.1B (55.7%) 56% Western Europe, FY2023: 7.3B (12.0%) 12% Latin America, FY2023: 8.2B (13.4%) 13% Asia, Africa, Oceania, and Middle East, FY2023: 5.2B (8.5%) 8% Canada, FY2023: 4.3B (7.0%) 7% Central Europe and CIS, FY2023: 2.1B (3.5%) 3%
Region FY2025FY2024FY2023
United States $23.97B $30.24B $34.10B
Western Europe $6.55B $6.19B $7.32B
Latin America $5.61B $5.54B $8.20B
Asia, Africa, Oceania, and Middle East $4.24B $4.36B $5.20B
Canada $3.73B $3.90B $4.29B
Central Europe and CIS $1.57B $1.49B $2.14B

As the company reported it, from the “REVENUE RECOGNITION - Primary Geographic Market, Major Product Line, and Timing (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $45.68B$51.72B$61.25B$52.58B$44.02B$35.54B$39.26B$37.36B$29.74B$26.64B
Cost of revenue ————————$168.0M$162.0M
Gross profit ————————$29.57B$26.48B
R&D $2.31B$2.29B$2.18B$1.91B$1.59B$1.64B$1.78B$1.66B$1.37B$1.39B
SG&A $4.66B$4.84B$4.59B$3.86B$3.38B$3.48B$3.55B$3.46B$3.10B$2.79B
Total operating expenses $39.43B$42.51B$48.23B$43.45B$36.42B$31.66B$35.17B$33.29B$26.58B$24.42B
Operating income —$9.04B$12.96B$9.51B$8.01B$4.30B$4.42B$4.48B$3.57B$2.61B
Interest expense $3.17B$3.35B$2.45B$1.06B$993.0M$1.25B$1.47B$1.20B$899.0M$763.7M
Pre-tax income $6.26B$9.21B$13.02B$9.13B$7.60B$3.88B$4.09B$4.07B$3.15B$2.22B
Income tax $1.26B$2.09B$2.87B$2.01B$1.66B$1.08B$852.0M$1.73B$971.0M$700.1M
Net income $5.03B$7.10B$10.17B$7.13B$5.96B$2.75B$3.25B$2.37B$2.16B$1.52B
EPS, basic 18.5525.7334.8023.4219.148.7710.287.346.764.83
EPS, diluted 18.5025.6234.6323.2818.998.6910.157.246.684.81
Shares, diluted (wtd. avg.) 271.7M277.1M293.6M306.3M314.0M316.6M320.6M327.3M323.3M316.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $8.28B$7.32B$7.46B$4.94B$8.12B$7.17B$3.96B$4.01B$9.47B$4.49B
Inventory $7.41B$7.09B$8.16B$8.49B$6.78B$5.00B$5.97B$6.15B$3.90B$3.34B
Property, plant and equipment ——————$5.97B$5.87B$5.07B$5.17B
Goodwill $4.19B$3.96B$3.90B$3.69B$3.29B$3.08B$2.92B$3.10B$1.03B$816.0M
Other intangibles $892.0M$999.0M$1.13B$1.22B$1.27B$1.33B$1.38B$1.56B$218.0M$104.1M
Total assets $106.00B$107.32B$104.09B$90.03B$84.11B$75.09B$73.01B$70.11B$65.79B$57.92B
Short-term debt $13.80B$13.53B$17.94B$12.59B$10.92B$8.58B————
Long-term debt ————$32.89B$32.73B$30.23B$27.24B$25.89B$23.70B
Total liabilities $79.99B$84.39B$82.20B$69.67B$65.68B$62.15B$61.58B$58.80B$56.21B$51.37B
Retained earnings $59.68B$56.40B$50.93B$42.25B$36.45B$31.65B$29.85B$27.55B$25.30B$23.91B
Total equity $25.95B$22.84B$21.79B$20.27B$18.43B$12.94B$11.42B$11.29B$9.56B$6.53B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $7.46B$9.23B$8.59B$4.70B$7.73B$7.48B$3.41B$1.82B$2.20B$3.77B
Depreciation and amortisation $2.23B$2.12B$2.00B$1.90B$2.05B$2.12B$2.02B$1.93B$1.72B$1.56B
Stock-based compensation $151.0M$208.0M$130.0M$85.0M$82.0M$81.0M$82.0M$84.0M$68.0M$70.6M
Capital expenditure $1.36B$1.64B$1.50B$1.13B$848.0M$820.0M$1.12B$896.0M$595.0M$644.4M
Investing cash flow -$2.06B-$6.46B-$8.75B-$8.48B-$5.75B-$3.32B-$3.92B-$8.18B-$1.66B-$1.18B
Financing cash flow -$4.58B-$2.72B$2.81B$826.0M-$1.08B-$980.0M$509.0M$876.0M$4.29B-$2.41B
Dividends paid $1.72B$1.60B$1.43B$1.31B$1.04B$956.0M$943.0M$806.0M$764.0M$761.3M
Buybacks $1.14B$4.01B$7.22B$3.60B$2.54B$750.0M$1.25B$958.0M$6.0M$205.4M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-25-122321.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 20B 40B 60B 80B Revenue, FY2016: 26.6B Gross profit, FY2016: 26.5B Net income, FY2016: 1.5B Revenue, FY2017: 29.7B Gross profit, FY2017: 29.6B Net income, FY2017: 2.2B Revenue, FY2018: 37.4B Net income, FY2018: 2.4B Revenue, FY2019: 39.3B Net income, FY2019: 3.3B Revenue, FY2020: 35.5B Net income, FY2020: 2.8B Revenue, FY2021: 44B Net income, FY2021: 6B Revenue, FY2022: 52.6B Net income, FY2022: 7.1B Revenue, FY2023: 61.3B Net income, FY2023: 10.2B Revenue, FY2024: 51.7B Net income, FY2024: 7.1B Revenue, FY2025: 45.7B Net income, FY2025: 5B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $26.64B $29.74B $37.36B $39.26B $35.54B $44.02B $52.58B $61.25B $51.72B $45.68B
Gross profit $26.48B $29.57B — — — — — — — —
Net income $1.52B $2.16B $2.37B $3.25B $2.75B $5.96B $7.13B $10.17B $7.10B $5.03B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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