Is Deere & Company financially healthy?

On 2 August 2026 Deere & Company held 10.28B USD in cash and short-term investments against total debt of 64.18B USD. Its current ratio is 0.77: what falls due within a year against what turns into cash within a year. Over the last twelve months it generated 3.87B USD of free cash flow.

Is Deere & Company growing?

Deere & Company's revenue grew 5.2% a year over its last five fiscal years, from 34.72B USD in fiscal year 2020 to 44.67B USD in fiscal year 2025. Over the last twelve months it was up 9.9% on the twelve months before.

Where can I find Deere & Company's annual report (10-K)?

Deere & Company files its annual report (Form 10-K) and its quarterly reports (Form 10-Q) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

Deere & Company
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Arincen ScoreBeta57/100

57/100B

673.57

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-5.09

(-0.75%)

Market Open

Last updated: 13 Nov, 10:43 GMT-5 · Delayed 15 min

Fair value640.21Plus+5%457Price 673.571,097

Q4 FY2026 · Earnings report

EPS estimate 4.03Revenue estimate 10.40B

Q4 FY2026 · Earnings report

Wednesday 25 November

EPS estimate 4.03Revenue estimate 10.40B

Fair value640.21Plus+5%457Price 673.571,097

Q4 FY2026 · Earnings report

EPS estimate 4.03Revenue estimate 10.40B

Q4 FY2026 · Earnings report

Wednesday 25 November

EPS estimate 4.03Revenue estimate 10.40B

Overview Financials Forecast Earnings Dividends Company

Deere & Company financials

Yes. Deere & Company earned 4.87B USD of net income over the last twelve months, 10.2% of its revenue. It made a profit in 36 of its 41 fiscal years since 1985. Its last loss was in fiscal year 2001.

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 47.68B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 4.87B USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 3.87B USD
Cash and short-term investments: 10.28B USD
Total debt: 64.18B USD
Shareholders' equityWhat is a balance sheet? The balance sheet lists what a company owns (assets), what it owes (liabilities) and what is left for its shareholders (equity) on one date.: 27.99B USD

Cash, debt and equity as of 2 Aug 2026.

Deere & Company earnings

Next earnings · Q4 FY2026

25 Nov 2026

EPS estimate

4.03 USD

Revenue estimate

10.40B USD

Last quarter · Q3 FY2026

EPS5.10Beat +8.7%Revenue12.61BBeat +16.6%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q3 FY2027	—	6.40	—	—	+25.54%	12.01B	—	—	-4.76%
Q2 FY2027	—	7.18	—	—	+9.69%	12.74B	—	—	+8.18%
Q1 FY2027	—	3.35	—	—	+38.27%	8.63B	—	—	+7.86%
Q4 FY2026	25 Nov 2026	4.03	—	—	+2.54%	10.40B	—	—	-13.97%
Q3 FY2026	20 Aug 2026	4.69	5.10	+8.74%	+7.37%	10.81B	12.61B	+16.58%	+7.00%
Q2 FY2026	21 May 2026	5.70	6.55	+14.91%	-1.36%	11.55B	11.78B	+1.97%	-5.96%
Q1 FY2026	19 Feb 2026	2.02	2.42	+19.80%	-24.14%	7.59B	8.00B	+5.45%	-3.16%
Q4 FY2025	26 Nov 2025	3.84	3.93	+2.34%	-13.63%	9.83B	12.09B	+22.98%	+11.70%
Q3 FY2025	14 Aug 2025	4.57	4.75	+3.94%	-24.48%	10.35B	11.78B	+13.83%	-8.29%
Q2 FY2025	15 May 2025	5.56	6.64	+19.42%	-22.16%	10.79B	12.53B	+16.10%	-16.48%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2028	27.21	—	—	+20.06%	48.61B	—	—	+7.96%
FY2027	22.66	—	—	+25.38%	45.02B	—	—	+8.72%
FY2026	18.08	—	—	-2.35%	41.41B	—	—	-7.28%
FY2025	18.42	18.51	+0.50%	-27.70%	38.29B	44.66B	+16.66%	-11.59%
FY2024	20.75	25.60	+23.40%	-26.27%	45.38B	50.52B	+11.31%	-16.15%
FY2023	33.89	34.72	+2.45%	+48.82%	56.42B	60.25B	+6.79%	+17.48%
FY2022	22.84	23.33	+2.13%	+23.31%	47.25B	51.28B	+8.54%	+19.17%

Deere & Company growth and profitability

Full income statement

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 47.68B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 4.87B USD
Gross marginWhat are gross, operating and net profit margins? A profit margin is the share of revenue kept as profit: gross margin after the cost of sales, operating margin after running costs, net margin after all costs.: 35.74%
Operating margin: 18.97%
Net margin: 10.22%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2025	44.67B	-11.59%	5.03B	-29.20%	36.48%	18.84%	11.25%	11.66B	-20.56%
FY2024	50.52B	-16.15%	7.10B	-30.16%	38.59%	22.62%	14.05%	14.67B	-16.04%
FY2023	60.25B	+17.48%	10.17B	+42.56%	37.02%	24.22%	16.87%	17.48B	+44.62%
FY2022	51.28B	+19.17%	7.13B	+19.59%	30.67%	17.60%	13.91%	12.08B	+13.52%
FY2021	43.03B	+23.94%	5.96B	+116.76%	31.87%	17.81%	13.86%	10.65B	+46.87%

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q3 FY2026	12.61B	1.38B	37.03%	20.56%	10.94%
Q2 FY2026	13.37B	1.77B	38.17%	22.48%	13.26%
Q1 FY2026	9.61B	656.00M	34.66%	16.18%	6.83%
Q4 FY2025	12.09B	1.07B	32.57%	15.67%	8.81%
Q3 FY2025	11.78B	1.29B	35.75%	18.32%	10.94%

How Deere & Company makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Production & Precision Ag (PPA)16.96B 38.0%

Small Agriculture7.22B 16.2%

Compact Construction Equipment6.49B 14.5%

Financial Products6.30B 14.1%

Roadbuilding3.55B 8.0%

Turf2.73B 6.1%

Material Reconciling Items1.31B 2.9%

Forestry1.12B 2.5%

Revenue44.67B 100.0%

Cost of revenue28.37B 63.5%

Gross profit16.30B 36.5%

Research and development2.31B 5.2%

Selling and administration4.24B 9.5%

Other operating expenses1.33B 3.0%

Operating income8.42B 18.8%

Tax1.26B 2.8%

Other expense2.13B 4.8%

Net income5.03B 11.3%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Deere & Company revenue breakdown

By product

FY2025

38.0%Production & Precision Ag (PPA)16.2%Small Agriculture14.5%Compact Construction Equipment14.1%Financial Products8.0%Roadbuilding6.1%Turf2.9%Material Reconciling Items2.5%Forestry

Segment	Revenue	Share of revenue	Change on the year
Production & Precision Ag (PPA)	16.96B	38.0%	-17.6%
Small Agriculture	7.22B	16.2%	-6.2%
Compact Construction Equipment	6.49B	14.5%	-18.7%
Financial Products	6.30B	14.1%	+1.2%
Roadbuilding	3.55B	8.0%	-2.4%
Turf	2.73B	6.1%	-9.7%
Material Reconciling Items	1.31B	2.9%	—
Forestry	1.12B	2.5%	+1.4%
Other	-1.02B	-2.3%	-169.1%

By region

FY2025

52.5%United States14.3%Western Europe12.3%Latin America9.3%Asia, Africa, Oceania, and Middle East8.2%Canada3.4%Central Europe and Commonwealth of Independent States

Region	Revenue	Share of revenue	Change on the year
United States	23.97B	52.5%	-20.7%
Western Europe	6.55B	14.3%	+5.8%
Latin America	5.61B	12.3%	+1.2%
Asia, Africa, Oceania, and Middle East	4.24B	9.3%	-2.7%
Canada	3.74B	8.2%	-4.2%
Central Europe and Commonwealth of Independent States	1.58B	3.4%	+5.8%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2025	7.46B	3.23B
FY2024	9.23B	4.43B
FY2023	8.59B	4.12B
FY2022	4.70B	911.00M
FY2021	7.73B	5.15B
FY2020	7.48B	4.83B
FY2019	3.41B	-37.00M
FY2018	1.82B	-1.13B
FY2017	2.20B	-392.50M
FY2016	3.76B	809.20M

Deere & Company financial health

Full balance sheet

Cash and short-term investments: 10.28B USD
Total debt: 64.18B USD
Net cash: -53.90B USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 3.87B USD
Current ratioWhat is the current ratio? The current ratio is current assets divided by current liabilities: whether what a company will turn into cash within a year covers what it owes within a year.: 0.77
Debt to equityWhat is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.: 2.29
Piotroski scoreWhat is the Piotroski F-Score? The Piotroski F-Score rates a company's financial strength from 0 to 9: one point for each of nine tests of profit, debt and efficiency it passes.: 8 / 9
Altman Z-scoreWhat is the Altman Z-Score? The Altman Z-Score rolls five financial ratios into one number that signals a company's risk of bankruptcy: over 3 is safe, under 1.8 is distress.: 2.85

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2025	9.69B	63.94B	3.23B
FY2024	8.48B	65.46B	4.43B
FY2023	8.40B	63.69B	4.12B
FY2022	5.51B	52.20B	911.00M
FY2021	8.75B	48.73B	5.15B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2025	106.00B	79.99B	25.95B
FY2024	107.32B	84.40B	22.84B
FY2023	104.09B	82.20B	21.79B
FY2022	90.03B	69.67B	20.26B
FY2021	84.11B	65.68B	18.43B
FY2020	75.09B	62.15B	12.94B
FY2019	73.01B	61.58B	11.41B
FY2018	70.11B	58.80B	11.29B
FY2017	65.79B	56.21B	9.56B
FY2016	57.92B	51.37B	6.52B

Deere & Company valuation

Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.: 37.34
Forward P/E (FY2027)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.: 29.72
Price to sales (TTM)What is the P/S ratio? The price-to-sales ratio compares a company's market value with its revenue over the last year: what you pay for each dollar of sales.: 3.81
Price to bookWhat is the P/B ratio? The price-to-book ratio compares a company's market value with its book value, the shareholders' equity on its balance sheet.: 6.49
EV / EBITDA (TTM)What is EV/EBITDA? EV/EBITDA compares a company's whole value, debt included and cash taken off, with a year of its earnings before interest, tax and depreciation.: 20.13

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Market capitalization

181.61B USD

Total debt

64.18B USD

−

Cash and short-term investments

10.28B USD

Enterprise value

235.51B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2028 (est.)	24.75	—	—	—	—
FY2027 (est.)	29.72	24.75	—	—	—
FY2026 (est.)	37.26	29.72	—	—	—
Now (TTM)	37.34	29.54	3.81	6.49	20.13
FY2025	24.89	25.54	2.80	4.82	15.51
FY2024	16.03	22.14	2.25	4.98	11.72
FY2023	10.57	17.34	1.78	4.93	9.37
FY2022	16.90	11.74	2.35	5.95	13.90
FY2021	18.74	14.99	2.60	6.07	14.33

Deere & Company against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Union Pacific, GE Vernova, Lockheed Martin, The Boeing, RTX, and Caterpillar, the US Industrials companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

P/E (today)Above its median37.3
10.239.3
Gross marginAt its median36.5%
30.7%38.6%
Against its peers: 2 of 7Peers' median 19.9%
Operating marginAt its median18.8%
17.6%24.2%
Against its peers: 2 of 7Peers' median 10.4%
Net marginLowest in 5 years11.3%
11.3%16.9%
Against its peers: 4 of 7Peers' median 10.2%
Return on equityLowest in 5 years19.4%
19.4%46.7%
Against its peers: 6 of 7Peers' median 41.3%
Free cash flow marginAt its median7.2%
1.8%12.0%
Against its peers: 6 of 7Peers' median 9.5%
Revenue growthBelow its median-11.6%
-16.1%23.9%
Against its peers: 7 of 7Peers' median 7.3%
EPS growthLowest in 5 years-27.8%
-27.8%118.5%
Against its peers: 6 of 6Peers' median 7.9%
Debt to EBITDAHighest in 5 years5.49×
3.64×5.49×
Against its peers: 6 of 7Peers' median 2.56×
Current ratioHighest in 5 years2.31
1.962.31
Against its peers: 1 of 7Peers' median 1.06

Figure	FY2025	5-year low – high	Against its history	Against its peers
P/E (today)	37.3	10.239.3	Above its median	—
Gross margin	36.5%	30.7%38.6%	At its median	2 of 7
Operating margin	18.8%	17.6%24.2%	At its median	2 of 7
Net margin	11.3%	11.3%16.9%	Lowest in 5 years	4 of 7
Return on equity	19.4%	19.4%46.7%	Lowest in 5 years	6 of 7
Free cash flow margin	7.2%	1.8%12.0%	At its median	6 of 7
Revenue growth	-11.6%	-16.1%23.9%	Below its median	7 of 7
EPS growth	-27.8%	-27.8%118.5%	Lowest in 5 years	6 of 6
Debt to EBITDA	5.49×	3.64×5.49×	Highest in 5 years	6 of 7
Current ratio	2.31	1.962.31	Highest in 5 years	1 of 7

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Deere & Company dividends

Annual dividend: 6.48 USD
Dividend yield (indicated)What is dividend yield? Dividend yield is a year of dividends as a percentage of the share price: the income a shareholder receives for each dollar invested at today's price.: 0.96%
Payout ratioWhat is the payout ratio? The payout ratio is the share of a company's earnings paid out as dividends: dividends per share divided by earnings per share (EPS).: 35.92%
Years of dividend growthWhat are years of dividend growth? The years in a row a company has raised its dividend per share. 25 years make an S&P 500 company a Dividend Aristocrat; 50 make a Dividend King.: 5
Frequency: Quarterly
Last payment: 1.62 USD
Last ex-dividend dateWhat is the ex-dividend date? The ex-dividend date is the first day a stock trades without its next dividend: buy before it to receive the payment; buy on or after it and the seller gets it.: 30 Sept 2026
Last payment date: 9 Nov 2026

Dividends per share

Year	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Dividends per share	6.48	5.88	5.05	4.36	3.61	3.04	3.04	2.58	2.40	2.40

Deere & Company ownership

InstitutionsWhat is institutional ownership? Institutional ownership is the share of a company's stock held by funds, banks and other investment managers, as they report it each quarter on Form 13F.: 75.86%
Institutional holders: 2,760 (+75)
Free floatWhat is free float? Free float is the part of a company's shares that anyone can buy and sell: all its shares minus those held by insiders, founders and owners of over 5%.: 99.80%

Who owns the shares

Institutions 75.9% Others 24.1%

As of 30 Jun 2026

Shares free to trade

Free float 269.08M shares ·99.8% Closely held 544.64K shares ·0.2%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

Quarter	Sales	Shares acquired	Shares disposed of
Q4 2026	0	92.00	0.00
Q3 2026	21	35.96K	71.94K
Q2 2026	0	0.00	568.00
Q1 2026	5	56.11K	106.94K

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2025	270.90M	271.70M	-1.95%
FY2024	276.00M	277.10M	-5.62%
FY2023	292.20M	293.60M	-4.15%
FY2022	304.50M	306.30M	-2.45%
FY2021	311.60M	314.00M	-0.82%

Common questions about Deere & Company's financials

Source: Financial Modeling Prep

Deere & Company
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Quotes are delayed by 15 minutes

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Deere & Company financials

Deere & Company earnings

Revenue

EPS

Deere & Company growth and profitability

Revenue / Net income

How Deere & Company makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Deere & Company revenue breakdown

By product

By region

Operating and free cash flow

Deere & Company financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Deere & Company valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Deere & Company against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Deere & Company dividends

Dividends per share

Deere & Company ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Deere & Company's financials

Is Deere & Company profitable?

Is Deere & Company financially healthy?

Is Deere & Company growing?

Where can I find Deere & Company's annual report (10-K)?

Need help?

Deere & Company DQuotes are delayed by 15 minutes

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Deere & Company financials

Deere & Company earnings

Revenue

EPS

Deere & Company growth and profitability

Revenue / Net income

How Deere & Company makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Deere & Company revenue breakdown

By product

By region

Operating and free cash flow

Deere & Company financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Deere & Company valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Deere & Company against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Deere & Company dividends

Dividends per share

Deere & Company ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Deere & Company's financials

Is Deere & Company profitable?

Is Deere & Company financially healthy?

Is Deere & Company growing?

Where can I find Deere & Company's annual report (10-K)?

Need help?

Deere & Company
D
Quotes are delayed by 15 minutes