FirmAtlas
Company handbook · DE · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
DE · CIK 315189 · LATEST FILING: 10-Q AUG '26 · FILED AUG 27, 2026
DEERE & CO
$641.86
−8.81 (−1.35%)
Close, Oct 16, 2026 · 52-week $454–721
Deere makes farm machinery (tractors, combines, sprayers, planters) with precision farming technology, lawn and turf equipment, and construction and forestry machines such as loaders, excavators and road-building equipment (Wirtgen). It also lends to its buyers and dealers through John Deere Financial.
Business
- SegmentsProduction And Precision Agriculture 38% · Construction And Forestry 25% · Small Agriculture And Turf 23% · Financial Services 14% (FY25)
- RegionsUS 52% · Western Europe 14% · Latin America 12% · Asia Africa Oceania and Middle East 9% · Other 12% (FY25)
- CustomersFarmers, landscapers, home owners, builders and loggers; sold through independent John Deere dealers, which it also finances
- Cash useFY24–FY25: buybacks $5.1B · dividends $3.3B · capex $3.0B · acquisitions $101M
Reinvested 19% of operating cash flow · returned 62% of free cash flow
Last fiscal year
DEERE & CO reported revenue of $45.7B for the year ended Nov 2, 2025 (FY25), down 11.7% from FY24. Net income was $5.0B, operating cash flow $7.5B and free cash flow $6.1B. Source: 10-K filed Dec 18, 2025.
Market cap
$173.6B
P/E
34.5
P/B
6.7
Div yield
1.01%
Revenue 1Y
−11.7%/yr
EPS 1Y
−27.8%/yr
Shares 1Y
−0.5%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOJohn C. May
HQMoline, IL
AuditorDeloitte & Touche LLP
Employees73,100
Year endsNovember
Revenue by segment · FY25
Production And Precision Agriculture38%
Construction And Forestry25%
Small Agriculture And Turf23%
Financial Services14%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
22.2%
14.0%
18.0%
40.4%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$11.6B deployed
Capex
$3.0B
25.9%
Acquisitions
$101M
0.9%
Dividends
$3.3B
28.7%
Buybacks
$5.1B
44.5%
Operating cash flow over the period: $16.7B. Total debt changed by +$7M. R&D of $4.6B is already inside operating costs.
More cash than debt at the end of FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Nov 2, 2025 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Income
Revenue
51,716
45,684−11.7%
YoY
−11.7%
Operating income
9,039
—
Operating margin
17.5%
—
EBITDA
11,157
—
EBITDA margin
21.6%
—
Interest expense
3,348
3,170−5.3%
Interest coverage
3.33x
—
Net income
7,100
5,027−29.2%
YoY
−29.2%
Net margin
13.7%
11.0%−2.7 pp
EPS (diluted, $)
25.62
18.50−27.8%
YoY
−27.8%
Balance sheet
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
9,231
7,459−19.2%
Net income
7,088
4,998−29.5%
Depreciation & amortization
2,118
2,229+5.2%
Stock-based compensation
208
151−27.4%
Working capital & other
(183)
81n/m
Cash from investing
(6,464)
(2,057)n/m
Capex
(1,640)
(1,360)n/m
Acquisitions
—
(101)
Investments bought
(1,055)
(703)n/m
Investments sold / matured
619
486−21.5%
Other investing
(4,388)
(379)n/m
Cash from financing
(2,717)
(4,579)n/m
Dividends
(1,605)
(1,720)n/m
Buybacks
(4,007)
(1,138)n/m
Other financing
2,895
(1,721)−159.4%
Net change in cash
13
900+6823.1%
Free cash flow (OCF − capex)
7,591
6,099−19.7%
Where the cash went
Operating cash flow
9,231
7,459−19.2%
Reinvested in the business
1,640
1,461−10.9%
% of operating cash flow
17.8%
19.6%
Capex
1,640
1,360−17.1%
Acquisitions
—
101
R&D (memo, already in costs)
2,290
2,311+0.9%
Free cash flow
7,591
6,099−19.7%
YoY
−19.7%
Returned to shareholders
5,612
2,858−49.1%
% of free cash flow
73.9%
46.9%
Dividends
1,605
1,720+7.2%
Buybacks
4,007
1,138−71.6%
Change in total debt
—
7
Cash left over
—
3,147
FCF conversion (FCF ÷ net income)
106.9%
121.3%+14.4 pp
Owner earnings
—
5,583
Owner earnings margin
—
12.2%
Buyback yield
3.6%
0.9%−2.7 pp
Income
Jan '25
Apr '25
Jul '25
Nov '25
Revenue
8,508
12,763
12,018
12,395
vs year-ago quarter
Net income
869
1,804
1,289
1,065
vs year-ago quarter
Net margin
10.2%
14.1%
10.7%
8.6%
EPS (diluted, $)
3.19
6.64
4.75
3.94
vs year-ago quarter
Balance sheet
Jan '25
Apr '25
Jul '25
Nov '25
Total assets
103,119
106,303
107,817
105,996
Cash & equivalents
6,907
8,179
8,847
8,533
Total debt
—
—
—
112
Shareholders’ equity
22,479
24,287
25,175
25,950
Cash flow
Jan '25
Apr '25
Jul '25
Nov '25
Operating cash flow
(1,132)
1,700
2,896
3,995
Capex
352
203
297
508
Free cash flow
(1,484)
1,497
2,599
3,487
vs year-ago quarter