COVERAGE / DE / Industrials

DEERE & CO

Farm Machinery & Equipment

COVERAGE STATUSACTIVE

DATA THROUGH2025-11-02

RESEARCH REPORTS2

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-11-02 · Prior / 2024-10-27 · USD · Annual periods

Revenue

$45.68bn

Prior / $51.72bn

Change / -11.66%

SOURCE / 2025-12-18

Operating income

Not available

Prior / $9.04bn

Change / Unavailable

SOURCE / Not available

Net income

$5.03bn

Prior / $7.1bn

Change / -29.20%

SOURCE / 2025-12-18

Diluted EPS

$18.50

Prior / $25.62

Change / -27.79%

SOURCE / 2025-12-18

Free cash flow

$6.1bn

Prior / $7.59bn

Change / -19.65%

SOURCE / 2025-12-18

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

Not available

Prior / 17.48%

Change / Unavailable

SOURCE / Not available

Return on avg. equity

20.61%

Prior / 31.82%

Change / -11.22 pp

SOURCE / 2025-12-18

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2024-10-28",
    "end": "2025-11-02",
    "val": 45684000000,
    "accn": "0001104659-25-122321",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2025-12-18",
    "frame": "CY2025",
    "tag": "us-gaap:Revenues",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2024-10-28",
    "end": "2025-11-02",
    "val": 5027000000,
    "accn": "0001104659-25-122321",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2025-12-18",
    "frame": "CY2025",
    "tag": "us-gaap:NetIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2024-10-28",
    "end": "2025-11-02",
    "val": 18.5,
    "accn": "0001104659-25-122321",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2025-12-18",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2024-10-28",
    "end": "2025-11-02",
    "val": 7459000000,
    "accn": "0001104659-25-122321",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2025-12-18",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "capex": {
    "start": "2024-10-28",
    "end": "2025-11-02",
    "val": 1360000000,
    "accn": "0001104659-25-122321",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2025-12-18",
    "frame": "CY2025",
    "tag": "us-gaap:PaymentsToAcquirePropertyPlantAndEquipment",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-11-02",
    "val": 105996000000,
    "accn": "0001104659-25-122321",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2025-12-18",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-11-02",
    "val": 79989000000,
    "accn": "0001104659-25-122321",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2025-12-18",
    "tag": "us-gaap:Liabilities",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2025-11-02",
    "val": 25950000000,
    "accn": "0001104659-25-122321",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2025-12-18",
    "tag": "us-gaap:StockholdersEquity",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-11-02	$45.68bn	$5.03bn	$6.1bn	$18.50
2024-10-27	$51.72bn	$7.1bn	$7.59bn	$25.62
2023-10-29	$61.25bn	$10.17bn	$7.09bn	$34.63
2022-10-30	$52.58bn	$7.13bn	$3.57bn	$23.28

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-11-02. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	37.06x	Unavailable	37.06x	11
P/S	4.05x	Unavailable	4.74x	8
P/B	7.12x	Unavailable	7.57x	7
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	3.30%	Unavailable	3.29%	6

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-08-02 DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 685.63,
  "tradingDate": "2026-09-17",
  "marketCap": 184863271229.56,
  "source": "Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-08-02"
}

Company & operating context

DEERE & CO is an SEC-reporting issuer listed on NYSE under DE. Its SEC industry description is Farm Machinery & Equipment. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Equipment manufacturers, transport operators and industrial service providers face differing order and asset cycles.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2025-12-18PERIOD / 2025-11-02

DE filed this 10-K on 2025-12-18 for the reported period 2025-11-02. Reading focus: Backlog conversion, utilization, deliveries, working capital and service revenue. This is a metadata-based reading guide; it does not assert that a particular event or risk change occurred in the document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0050DEEarnings Review

DE: the annual earnings and cash-flow comparison ↗

DEERE & CO

Research abstract

A two-period review of DE revenue, profitability and cash conversion; reported revenue growth was -11.66%.

DATA THROUGH2025-11-022 MIN READPUBLISHED 2026-09-26

HR-0051DECompany Research

DE: reading the FY2025 financial structure ↗

DEERE & CO

Research abstract

Annual revenue of USD 45.684 billion and net income of USD 5.027 billion for the period ended 2025-11-02.

DATA THROUGH2025-11-022 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Order cancellations, supply constraints, execution risk, labor costs and capital-cycle sensitivity.

Backlog conversion, utilization, deliveries, working capital and service revenue.

INDUSTRIALS SYSTEM ↗

Sources & dates

SEC annual filing · 2025-11-02 ↗Source date 2025-12-18
SEC annual filing · 2024-10-27 ↗Source date 2025-12-18
SEC annual filing · 2023-10-29 ↗Source date 2025-12-18
SEC annual filing · 2022-10-30 ↗Source date 2024-12-12
SEC issuer record ↗Source date 2026-09-18