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Earnings transcript
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DE
Deere & Company
$575.71
5.01
(0.88%)
| Exchange: | NYSE |
| Market Cap: | 155.503B |
| Shares Outstanding: | 406.667M |
About The Company
| Sector: | Industrials | |||||
| Industry: | Agricultural – Machinery | |||||
| CEO: | John C. May | |||||
| Full Time Employees: | 73100 | |||||
| Address: |
| |||||
| Website: | https://www.deere.com/en |
Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers. The Small Agriculture and Turf segment offers utility tractors, and related loaders and attachments; turf and utility equipment, including riding lawn equipment, commercial mowing equipment, golf course equipment, and utility vehicles, as well as implements for mowing, tilling, snow and debris handling, aerating, residential, commercial, golf, and sports turf care applications; other outdoor power products; and hay and forage equipment. This segment also resells products from other manufacturers. It serves dairy and livestock producers, crop producers, and turf and utility customers. The Construction and Forestry segment provides a range of backhoe loaders, crawler dozers and loaders, four-wheel-drive loaders, excavators, motor graders, articulated dump trucks, landscape and skid-steer loaders, milling machines, pavers, compactors, rollers, crushers, screens, asphalt plants, log skidders, log feller bunchers, log loaders and forwarders, log harvesters, and attachments; and roadbuilding equipment. The Financial Services segment finances sales and leases agriculture and turf, and construction and forestry equipment. It also offers wholesale financing to dealers of the foregoing equipment; and extended equipment warranties, as well as finances retail revolving charge accounts. Deere & Company was founded in 1837 and is headquartered in Moline, Illinois.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 60,248,000 | 50,518,000 | 44,665,000 |
| Gross Profit | 22,306,000 | 19,495,000 | 16,295,000 |
| EBITDA | 17,476,000 | 14,672,000 | 11,656,000 |
| Operating Income | 14,591,000 | 11,427,000 | 8,416,000 |
| Net Income | 10,166,000 | 7,100,000 | 5,027,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 104,087,000 | 107,320,000 | 105,996,000 |
| Total Liabilities | 82,201,000 | 84,395,000 | 79,989,000 |
| Total Stockholders Equity | 21,785,000 | 22,836,000 | 25,950,000 |
| Total Debt | 63,692,000 | 65,463,000 | 63,936,000 |
| Cash and Cash Equivalents | 7,458,000 | 7,324,000 | 8,276,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 8,589,000 | 9,231,000 | 7,459,000 |
| Capital Expenditure | -4,468,000 | -1,640,000 | -4,228,000 |
| Free Cash Flow | 4,121,000 | 7,591,000 | 3,231,000 |
| Net Income | 10,166,000 | 7,088,000 | 5,027,000 |
| Net Change in Cash | 2,679,000 | 13,000 | 952,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 50,223,605.451 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 50,429,094.113 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 50,326,349.782 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 13,303,935.251 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 13,358,367.979 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 13,331,151.615 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 5,759,290.129 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 9,955,718.380 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 7,420,789.600 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 4,029,210.676 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 4,045,696.094 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 4,037,453.385 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 28.240 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 36.640 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 21.200 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 7 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 11 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Financial Foundation: Deere & Company demonstrates robust financial health with consistent revenue and gross profit figures as per the latest income statements. Strong operating cash flow and free cash flow metrics indicate effective cash management and the ability to fund operations and investments internally.
- Market Leadership and Brand Strength: As a key player in the agricultural machinery industry within the industrials sector, Deere benefits from a strong market position and brand recognition, supported by a substantial market capitalization and a global presence with significant full-time employees, as noted in the company profile.
- Technological Integration: Insights from the Q1 2025 earnings call transcript highlight Deere’s focus on leveraging technology to enhance product offerings and operational efficiency, positioning the company as an innovator in precision agriculture and smart equipment solutions.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates DE intrinsic value between $320.57 – $403.09 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about DE valuation
Is Deere & Company (DE) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Deere & Company (DE) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is DE a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether DE trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is DE’s P/E ratio?
You can see DE’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for DE?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is DE a good long-term investment?
Whether DE fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
DE
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Daily snapshot
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Daily snapshotTrading Metrics:
| Open: | 560.7 | Previous Close: | 570.7 | |
| Day Low: | 556.45 | Day High: | 580.69 | |
| Year Low: | 404.42 | Year High: | 674.19 | |
| Price Avg 50: | 582.14 | Price Avg 200: | 508.91 | |
| Volume: | 1.111M | Average Volume: | 1.586M |
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Login — it's freeDE full analysis
Welcome to MARKETSNAP’s SWOT analysis for Deere & Company, the powerhouse in agricultural machinery and equipment, often just known by its ticker, DE. If you’re a long-term investor looking to dig into a company that’s been shaping the farming and construction industries for decades, you’re in the right place. Today, we’re breaking down the strengths, weaknesses, opportunities, and threats for Deere & Company, with insights pulled straight from the latest data, earnings calls, and performance metrics. Let’s get into it…
