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Deere & Company

DE

Deere & Company • NYSE
$464.49 ▼ -1.15% (-5.38)
Market Cap $125.57 B
52w High $533.78
52w Low $403.01
Dividend Yield 6.48%
P/E 25.12
Volume 1.68M
Outstanding Shares 270.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $12.394B ▲ $2.264B ▲ $1.065B ▼ 8.593% ▼ $3.94 ▼ $2.747B ▼
Q3-2025 $11.783B ▼ $2.054B ▲ $1.289B ▼ 10.939% ▼ $4.76 ▼ $2.958B ▼
Q2-2025 $12.525B ▲ $2.033B ▲ $1.804B ▲ 14.403% ▲ $6.65 ▲ $3.676B ▲
Q1-2025 $8.262B ▼ $1.747B ▼ $869M ▼ 10.518% ▼ $3.2 ▼ $2.273B ▼
Q4-2024 $10.827B $1.866B $1.245B 11.499% $4.57 $2.909B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $9.687B ▼ $105.996B ▼ $79.989B ▼ $25.95B ▲
Q3-2025 $9.987B ▲ $107.817B ▲ $82.553B ▲ $25.175B ▲
Q2-2025 $9.263B ▲ $106.303B ▲ $81.925B ▲ $24.287B ▲
Q1-2025 $6.633B ▼ $103.119B ▼ $80.555B ▼ $22.479B ▼
Q4-2024 $8.478B $107.32B $84.395B $22.836B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $1.065B ▼ $3.995B ▲ $-1.256B ▲ $-3.022B ▼ $-304M ▼ $2.628B ▲
Q3-2025 $1.271B ▼ $2.896B ▲ $-1.58B ▼ $-736M ▼ $668M ▼ $1.844B ▲
Q2-2025 $1.8B ▲ $1.7B ▲ $-637M ▼ $102M ▲ $1.272B ▲ $682M ▲
Q1-2025 $867M ▼ $-1.132B ▼ $1.416B ▲ $-923M ▲ $-726M ▼ $-1.923B ▼
Q4-2024 $1.242B $5.092B $-2.793B $-1.928B $340M $3.498B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Compact Construction Equipment
Compact Construction Equipment
 $6.03Bn ▲$1.13Bn ▼$1.69Bn ▲$1.70Bn ▲
Financial Products
Financial Products
 $3.15Bn ▲$1.58Bn ▼$1.48Bn ▼$1.54Bn ▲
Forestry
Forestry
 $550.00M ▲$230.00M ▼$250.00M ▲$290.00M ▲
Material Reconciling Items
Material Reconciling Items
 $0 ▲$280.00M ▲$330.00M ▲$340.00M ▲
Other
Other
 $1.13Bn ▲$-250.00M ▼$-240.00M ▲$-230.00M ▲
Production Precision Ag PPA
Production Precision Ag PPA
 $6.23Bn ▲$3.00Bn ▼$5.13Bn ▲$4.18Bn ▼
Roadbuilding
Roadbuilding
 $1.92Bn ▲$600.00M ▼$950.00M ▲$1.01Bn ▲
Small Agriculture
Small Agriculture
 $5.53Bn ▲$1.23Bn ▼$1.96Bn ▲$2.19Bn ▲
Turf
Turf
 $2.20Bn ▲$460.00M ▼$960.00M ▲$760.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Deere’s income statement shows a company that has been very profitable, with results cooling off a bit after an exceptional year. Sales and profits climbed strongly coming out of 2021, peaked around 2023, and then eased in 2024 but still remain well above earlier levels. Profit margins are healthy, meaning the company keeps a solid share of each dollar of sales after costs. The step down from last year looks more like a normalization from unusually strong conditions than a collapse. Overall, Deere is clearly earning good money, but its results still reflect the ups and downs of the agricultural cycle.

Balance Sheet

Balance Sheet The balance sheet is solid but carries a fair amount of debt, which is typical for a company that also provides customer financing. Total assets have grown steadily, and shareholder equity has increased over time, which is a good sign of underlying strength. Cash levels are stable, not excessive, but seemingly adequate for operations. The relatively high debt load is something to watch, but much of it supports Deere’s financing arm rather than pure operating risk. Structurally, the company looks financially sturdy, with a long-established base to support ongoing investment and downturns.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been strong and generally in line with the reported profits, which suggests earnings are backed by real cash, not accounting noise. Free cash flow has remained positive even as the company has stepped up its investment in new equipment and technology. Capital spending has been rising, which indicates Deere is reinvesting meaningfully in its business rather than just harvesting near-term profits. Overall, the cash flow profile supports both ongoing innovation and the ability to manage through weaker parts of the cycle.

Competitive Edge

Competitive Edge Deere holds a very strong competitive position in agricultural machinery. Its brand is deeply trusted, its green equipment is iconic, and farmers often stay loyal across generations. A major advantage is its dense dealer and service network, which keeps machines running during critical planting and harvest windows and makes switching to other brands inconvenient and risky for customers. On top of that, Deere’s financing arm, parts business, and digital tools tie customers into a broad ecosystem. While global rivals exist and farm spending can be cyclical, Deere’s combination of brand, support, and integrated solutions gives it a durable edge.

Innovation and R&D

Innovation and R&D Innovation is one of Deere’s biggest levers for the future. The company is pushing hard into precision agriculture, autonomy, and electrification. Its digital platform lets farmers monitor equipment and fields, turning raw data into decisions that can boost yields and cut input costs. Technologies like targeted spraying show how software and sensors can reduce waste and support more sustainable farming. Autonomous tractors and electric or hybrid machines could reshape how work gets done in the field and on construction sites. Deere’s steady investment in these areas appears aimed at turning equipment sales into long-term, technology-driven relationships with customers.

Summary

Deere & Company combines strong current profitability with a long-standing, defensible position in global agriculture and construction equipment. Financially, it is coming off a particularly strong period and now appears to be settling into more normal, but still robust, performance. The balance sheet and cash flows provide a solid foundation for continued investment, even with meaningful use of debt tied to its financing activities. Strategically, Deere’s real differentiation lies in its ecosystem: trusted equipment, deep dealer support, integrated financing, and increasingly sophisticated digital and autonomous technologies. Key uncertainties center on the inherent cyclicality of farm and construction spending, the pace of adoption of new technologies, and competitive responses, but Deere is clearly positioning itself at the center of the shift toward more data-driven, autonomous, and sustainable agriculture.

NEWS

November 26, 2025 · 6:27 AM UTC

Deere Reports Net Income of $1.065 Billion for Fourth Quarter, $5.027 Billion for Fiscal Year

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November 12, 2025 · 11:00 AM UTC

Deere to Announce Fourth Quarter 2025 Financial Results

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October 30, 2025 · 11:13 AM UTC

Deere & Company - GROWING THE NEXT GENERATION OF LEADERS:

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September 2, 2025 · 3:00 AM UTC

Deere & Company Announces Key Leadership Changes

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