Deere & Co

Industrials
Industrial Machinery/Components
www.deere.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $129.78B
PE 21
Debt $12.81B
Cash $6.91B
EV $135.69B
FCF $7.38B

Earnings

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Sales & Net Margins

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Earnings	$6.21B
EBIT	$11.26B
ROE	28%
ROA	11%
FCF	$7.38B
Equity	$22.49B
Growth Stability	91%
PE	20.91
PEG	0.75
PB	5.77
P/FCF	17.59
P/S	2.7
Price/Cash	0.05
Debt/Equity	0.57
Debt/FCF	1.74
Net Margins	10%
Op. Margins	23%
Earnings CAGR	28%
Sales Growth YoY	-30%
Sales Growth QoQ	-24%
Sales CAGR	11%
FCF CAGR	35%
Equity CAGR	16%
Earnings Stability	0.87
Earnings Growth YoY	-50%
Earnings Growth QoQ	-30%

Earnings CAGR 5Y	28%
Sales CAGR 5Y	12%
FCF CAGR 5Y	5%
Equity CAGR 5Y	15%
Earnings CAGR 3Y	3%
Sales CAGR 3Y	3%
FCF CAGR 3Y	47%
Equity CAGR 3Y	7%
Market Cap	$129.78B
Revenue	$48.04B
Dividend Yield	1%
Payout Ratio	27%
Assets	$103.12B
Total Debt	$12.81B
Cash	$6.91B
Shares Outstanding	270.94M
EV	135.69B
Earnings Score	95%
Moat Score	93%
Safety Score	93%
Final Score	94%
Shares Growth 3y	-5%
Equity Growth QoQ	-2%
Equity Growth YoY	2%

Assets & ROA

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Stockholders Equity & ROE

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Deere is the world's leading manufacturer of agricultural equipment, producing some of the most recognizable machines in the heavy machinery industry. The company is divided into four reportable segments: production and precision agriculture, small agriculture and turf, construction and forestry, and John Deere Capital. Its products are available through a robust dealer network, which includes over 1,900 dealer locations in North America and approximately 3,700 locations globally. John Deere Capital provides retail financing for machinery to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Deere product sales.

SEC Filings

Direct access to Deere & Co (DE) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Jan 26
2024
- 10-K Oct 27
- 10-Q Jul 28
- 10-Q Apr 28
- 10-Q Jan 28
2023
- 10-K Oct 29
- 10-Q Jul 30
- 10-Q Apr 30
- 10-Q Jan 29

Sector Comparison

How does Deere & Co compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Deere & Co compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 28%

Stability 87%

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Deere & Co Discounted Cash Flow

Fully customizable DCF calculator online for Deere & Co.

Years

Calculation mode

= $816B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$7.4B	$9.9B	$13B	$18B	$24B	$33B	$44B	$59B	$79B	$107B	$144B	$1.4T
DCF		$9B	$11B	$14B	$17B	$20B	$25B	$30B	$37B	$45B	$55B	$553B
Value	$816B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	10/2015	10/2016	10/2017	10/2018	11/2019	10/2020	10/2021	10/2022	10/2023	10/2024	TTM
Net Margins	7%	6%	7%	6%	8%	8%	14%	14%	17%	14%	10%
ROA	-	5%	6%	8%	8%	7%	10%	11%	15%	12%	11%
ROE	-	23%	23%	21%	28%	21%	32%	35%	47%	31%	28%

Good Net Margins (10.19%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	10/2015	10/2016	10/2017	10/2018	11/2019	10/2020	10/2021	10/2022	10/2023	10/2024	TTM
Debt over FCF	-	-	16.13	29.48	13.19	6.2	6.37	3.53	2.53	1.78	1.74
Debt over Equity	3.53	-	2.71	2.41	2.65	3.19	2.38	0.62	0.82	0.59	0.57
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	91%	91%

Good Debt/FCF ratio (1.74)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.57)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (91%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	10/2015	10/2016	10/2017	10/2018	11/2019	10/2020	10/2021	10/2022	10/2023	10/2024	CAGR 5Y
Revenue YoY growth	-	-8%	12%	26%	5%	-9%	24%	19%	16%	-16%	12%
Earnings YoY growth	-	-22%	42%	10%	37%	-15%	117%	20%	42%	-30%	28%
Equity YoY growth	-	-3%	46%	18%	1%	13%	42%	10%	8%	5%	15%
FCF YoY growth	-	2%	-49%	-42%	148%	191%	3%	-48%	99%	7%	5%