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Earnings transcript
Read the complete earnings call transcript.
DE
Deere & Company
$626.88
13.64
(2.22%)
| Exchange: | NYSE |
| Market Cap: | 169.218B |
| Shares Outstanding: | 406.667M |
Delayed data
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 is a global manufacturer and distributor of a wide range of equipment. The company’s operations are organized into four primary business segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment focuses on large-scale farming and advanced agricultural practices, offering medium-sized tractors, various harvesting machinery (including combines, cotton pickers, and sugarcane harvesters), front-end harvesting tools, sugarcane loaders, pull-behind scrapers, and essential tillage and seeding implements. It also supplies specialized application equipment like sprayers and nutrient management systems, along with soil preparation machinery, primarily serving grain growers. The Small Agriculture and Turf segment caters to smaller farming needs and land maintenance. Its product line includes utility tractors along with their complementary loaders and attachments. This segment also provides an extensive selection of turf and utility equipment, suchg as riding and commercial lawnmowers, specialized golf course maintenance machinery, and utility vehicles. Additionally, it offers various implements for tasks like mowing, tilling, snow removal, aerating, and general turf care across residential, commercial, golf, and sports environments, alongside other outdoor power products and hay and forage equipment. This division also resells products from other manufacturers. Its customer base includes dairy and livestock farmers, other crop producers, and general turf and utility clients. The Construction and Forestry segment delivers a comprehensive suite of heavy machinery for construction and logging. This includes earthmoving and roadbuilding equipment such as 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, and asphalt plants. For forestry operations, it supplies log skidders, feller bunchers, log loaders and forwarders, and log harvesters, in addition to various attachments for all its machinery. Lastly, the Financial Services segment provides funding solutions to facilitate the sale and leasing of agriculture and turf, as well as construction and forestry equipment. It extends wholesale financing to dealers stocking these product lines, offers extended equipment warranties, and manages retail revolving charge accounts for end-users. Established in 1837, Deere & Company has its corporate headquarters situated 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 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 48,932,002.302 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 49,337,433.793 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 49,134,718.048 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 12,961,797.236 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 13,069,193.633 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 13,015,495.435 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 5,770,978.663 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 9,689,153.509 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 7,373,698.590 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 3,925,591.249 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 3,958,117.168 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 3,941,854.209 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 27.360 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 35.660 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 21.240 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 8 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 12 | Research Access | Research Access | Research Access | Research 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)
- Demonstrated ability to maintain cost discipline and manage inventories effectively during periods of declining demand.
- Strategic emphasis on leveraging technology to support long-term operational efficiency and product development.
- Established market position in the agricultural equipment sector, supported by consistent full-time employee base and geographic revenue diversification.
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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.
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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
2.22
Trading Metrics:
| Open: | 612.76 | Previous Close: | 613.24 | |
| Day Low: | 608.62 | Day High: | 628.17 | |
| Year Low: | 433 | Year High: | 674.19 | |
| Price Avg 50: | 574.91 | Price Avg 200: | 530.66 | |
| Volume: | 941744 | Average Volume: | 1.272M |
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Login — it's freeDE full analysis
Hey everyone, welcome back to the channel where we break down stocks like we're chatting over coffee about where to put your money for the long haul. Today we're diving deep into Deere & Company, ticker DE, the iconic name in agricultural and construction machinery that's been making waves lately. Deere has shown real resilience even as the ag sector faces headwinds, posting solid Q2 results while navigating softer demand in farming equipment. With construction and forestry providing a nice…
