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Deere & Company (DE) stock

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NYSE: DE NYSE Agricultural & Farm Machinery Next results ~November 25, 2026

B+ Fundamentals grade

Deere & Company is a US-listed company in the agricultural & farm machinery industry. Its financial year ends in October.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$520

Valuation models combined (3)

Base case. Range ~$380–$790. Weighted average of 3 models (forward price-to-earnings vs peers, residual income, justified price-to-book), the forward price-to-earnings vs peers counting double.

Price vs value

No Buy/Hold/Sell rating is issued: consolidated figures include John Deere Financial, a finance arm whose borrowing funds customer loans, so a single cash-flow value of the group is not meaningful; not rated until we value the parts separately.

Deere & Company valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Deere & files

Where Deere & stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $48.0bn, up 8.0% on a year earlier, faster than 4.0% a quarter earlier. Free-cash-flow margin fell to 12.5% from 16.0% a year earlier. Operating margin widened to 21.2% from 18.1%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. Our cash-flow model value is $376 a share, against a share price of $637. At that price, our model says the market is pricing in about 11.8% a year of cash-flow growth for five years, faster than the 1.7% a year revenue growth it has delivered.

Source: 10-Q filed August 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 25, 2026 (estimated)

Deere & Company's trailing-twelve-month revenue grew 8.0% year on year, with a free-cash-flow margin of 12.5%. Where it stands out: revenue growth of 8.0% ranks 1 of 7 agricultural & farm machinery companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 8.0% (+4.0pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 4.0 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 3.1 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $8.9bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Insiders selling. 3 insiders sold $56M of stock over the past 365 days and none bought (100% under pre-set trading plans).

Latest results: FY2026 Q3

Filed August 27, 2026
Earnings per share
$5.10 against an average estimate of $4.71: beat by 8.3%
Revenue
$12.61bn, up 4.9% on a year earlier
Share reaction
+11.5% in the first session after the results on August 20, 2026, against -0.4% for the S&P 500
Guidance given
net income attributable to Deere & Company $4.75bn to $5bn (fiscal 2026); net Sales growth 20% (Fiscal 2026)
Next report
November 25, 2026; average EPS estimate $4.01

Deere &'s figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.2%
  • 1 week+4.1%
  • 1 month-2.8%
  • This year+44.5%
  • 1 year+46.3%
  • 5 years+107.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$48B
Net margin
10.2%
EPS (TTM, diluted)
$17.99

Growth

Revenue growth
+8.0%
Change in growth rate
+4.0 pts
Share count change
−0.5%

Cash

Free cash flow (TTM)
$6B
FCF margin
12.5%
Stock pay % of revenue
0.3%

Earnings

Last results
August 20, 2026
Next results (est.)
November 25, 2026

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Results
  6. Guidance
  7. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Deere & Company valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: consolidated figures include John Deere Financial, a finance arm whose borrowing funds customer loans, so a single cash-flow value of the group is not meaningful; not rated until we value the parts separately.

Valuation models

We value Deere & Company as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.79 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$380 ~$370–$430 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$790 ~$570–$1100 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$540 ~$460–$660 Included
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: earnings are positive: price-to-earnings is the better measure
Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. — Does not apply: The finance arm and operating business require separate valuations; consolidated financing debt is not industrial debt.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: The finance arm and operating business require separate valuations; consolidated financing debt is not industrial debt.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: The finance arm and operating business require separate valuations; consolidated financing debt is not industrial debt.
Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$520 ~$380–$790 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Deere & Company with Agricultural & Farm Machinery in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$74.87$116.90$118.71$160.23$209.38$320.72$376.51$346.96$397.74$456.42$667.60
Market value$23.7bn$37.8bn$38.9bn$51.4bn$66.3bn$100.7bn$115.3bn$101.9bn$110.2bn$124.0bn$180.9bn
+ Net debt (− = net cash)−$4.3bn$16.6bn$23.3bn$26.4bn$34.3bn$35.8bn$7.8bn$10.5bn$6.2bn$5.5bn$8.2bn
Enterprise value$19.4bn$54.3bn$62.2bn$77.7bn$100.5bn$136.5bn$123.1bn$112.3bn$116.4bn$129.5bn$189.1bn
Multiples
Price / sales 0.9x1.3x1.0x1.3x1.9x2.3x2.2x1.7x2.1x2.7x3.8x
Price / earnings 15.6x17.5x16.4x15.8x24.1x16.9x16.2x10.0x15.5x24.7x37.1x
Price / free cash flow 7.6x23.6x42.0x22.4x9.9x14.6x32.3x14.4x14.5x20.3x30.0x
EV / EBITDA 4.6x10.3x9.7x12.1x15.7x13.6x10.8x7.5x10.4x——

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

62 /100

Moderate moat

How hard Deere &'s competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 5 / 20

    Net income has been a median 4.7% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 21.1%, moving by 1.8 percentage points (standard deviation) across 10 years.

  • Durability 13 / 20

    Operating margin has been a median 12.1%; its worst year was 9.8%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 10 of 10 years, at a median 11.0% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 14.1% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 25, 2026, before the open. Analysts expect revenue of $10.4bn and EPS of $4.01 (range $3.73 to $4.44) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $18.11 −2% $41.1bn +6%
Next $22.99 +27% $44.6bn +9%

Next year's EPS estimate has moved +1.2% in 90 days, across 21 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.1% on 90 days ago. In the last 30 days, 0 analysts raised Deere & Company's forecast and 1 cut it.

Consensus EPS forecast Deere & Company, last 90 days
$18.00 $20.00 $22.00 $24.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $18.13 Current fiscal year, 60 days ago: $18.14 Current fiscal year, 30 days ago: $18.13 Current fiscal year, 7 days ago: $18.11 Current fiscal year, Now: $18.11 $18.11 Next fiscal year, 90 days ago: $22.73 Next fiscal year, 60 days ago: $22.44 Next fiscal year, 30 days ago: $22.69 Next fiscal year, 7 days ago: $22.99 Next fiscal year, Now: $22.99 $22.99

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $18.13$22.73
60 days ago $18.14$22.44
30 days ago $18.13$22.69
7 days ago $18.11$22.99
Now $18.11$22.99

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $4.71 $5.10 +8.3%
Apr 2026 $5.74 $6.55 +14.1%
Jan 2026 $2.10 $2.42 +15.4%
Oct 2025 $3.83 $3.93 +2.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 20, 2026
  • Net income attributable to Deere & Company fiscal 2026 $4.75bn to $5bn Raised
    “Net income attributable to Deere & Company for fiscal 2026 is forecasted to be in a range of $4.75 billion to $5.00 billion.” source
  • Net Sales · Construction & Forestry Fiscal 2026 about 20% growth
    “Construction & Forestry Up ~20% +1.5% ~ +3.0%” source
  • Net Sales · Small Ag & Turf Fiscal 2026 about 15% growth
    “Small Ag & Turf Up ~15% +0.5% ~ +1.5%” source
  • Net Sales · Production & Precision Ag Fiscal 2026 about -10% growth
    “Production & Precision Ag Down ~10% +2.5% ~ +1.0%” source
  • Net Income · Financial Services Fiscal 2026 about $870m
    “Financial Services Net Income ~ $870” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

25 analysts, Oct 2026
Buy1664%
Hold936%
Sell00%

Monthly trend

  1. Oct 2026511925
  2. Sep 2026511825
  3. Aug 2026591024
  4. Jul 2026581124

Counts of recommendations published by analysts covering Deere & Company, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.9%
of tradable shares
Days to cover
4.01
at average volume
Short interest, 1 month
−7%
to October 15, 2026
Held by institutions
84%
of shares
Held by insiders
0.2%
of shares
Employees
73,100
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +46.3%

$456.42 on October 31, 2025 to $667.60

ThenNowEffect
Revenue (last 12 months) $44.4bn $48.0bn +8.0%
Net margin 11.7% 10.2% −13.3%
P/E multiple 23.9x 37.1x +55.5%
Share count 272m 271m +0.5%

Biggest factor: p/e multiple.

Last 3 years +81.8%

$367.18 on November 3, 2023 to $667.60

ThenNowEffect
Revenue (last 12 months) $61.4bn $48.0bn −21.8%
Net margin 16.4% 10.2% −37.9%
P/E multiple 10.9x 37.1x +241.3%
Share count 297m 271m +9.8%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DE+29%+27%−6%+8%+11%+45%
Industry peers (median)+19%+8%−8%−11%+1%+10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DE58%50%25%42%67%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DE−17%−34%−21%−16%−19%−20%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 38% from November 11, 2019 to March 23, 2020. Getting back needed a 61% gain, reached on July 29, 2020, 128 days after the low.

Price behaviour

52-week range
$456.73 – $707.79
From 52-week high
−5.7%
vs 50-day average
+0.6%
vs 200-day average
+10.7%
Volatility (1 year)
33%
Beta vs S&P 500
0.43

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±6.6%
After a week
6 up, 6 down
typical move ±5.8%
After a month
8 up, 4 down
typical move ±6.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 20, 2026 +11.5% −0.4% +7.2% +17.9%
May 21, 2026 −5.6% +0.6% −3.3% +5.6%
February 19, 2026 +11.7% +0.5% +4.4% −5.7%
November 26, 2025 −6.8% +1.2% −3.0% −5.6%
August 14, 2025 −4.8% −0.2% −5.2% −8.7%
May 15, 2025 +6.8% +1.1% +3.6% +5.4%
February 13, 2025 +0.8% +1.1% +2.8% +1.2%
November 21, 2024 +10.3% +0.8% +15.0% +6.8%
August 15, 2024 +7.6% +1.9% +7.2% +12.3%
May 16, 2024 −4.1% −0.1% −8.4% −8.4%
February 15, 2024 −6.3% +0.2% −5.2% +0.1%
November 22, 2023 −3.3% +0.4% −4.8% +3.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Deere & Company in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Deere & Company
$40B $45B $50B $55B $60B $65B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $61.3B Revenue (TTM), FY24 Q1: $60.8B Revenue (TTM), FY24 Q2: $58.6B Revenue (TTM), FY24 Q3: $56B Revenue (TTM), FY24 Q4: $51.7B Revenue (TTM), FY25 Q1: $48B Revenue (TTM), FY25 Q2: $45.6B Revenue (TTM), FY25 Q3: $44.4B Revenue (TTM), FY25 Q4: $45.7B Revenue (TTM), FY26 Q1: $46.8B Revenue (TTM), FY26 Q2: $47.4B Revenue (TTM), FY26 Q3: $48B $48B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $61.3B
FY24 Q1 $60.8B
FY24 Q2 $58.6B
FY24 Q3 $56B
FY24 Q4 $51.7B
FY25 Q1 $48B
FY25 Q2 $45.6B
FY25 Q3 $44.4B
FY25 Q4 $45.7B
FY26 Q1 $46.8B
FY26 Q2 $47.4B
FY26 Q3 $48B
Revenue growth, TTM YoY Deere & Company
-30% -20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 16.5% Revenue growth, TTM YoY, FY24 Q1: 9.2% Revenue growth, TTM YoY, FY24 Q2: -1.7% Revenue growth, TTM YoY, FY24 Q3: -8.8% Revenue growth, TTM YoY, FY24 Q4: -15.6% Revenue growth, TTM YoY, FY25 Q1: -21.0% Revenue growth, TTM YoY, FY25 Q2: -22.3% Revenue growth, TTM YoY, FY25 Q3: -20.6% Revenue growth, TTM YoY, FY25 Q4: -11.7% Revenue growth, TTM YoY, FY26 Q1: -2.6% Revenue growth, TTM YoY, FY26 Q2: 4.0% Revenue growth, TTM YoY, FY26 Q3: 8.0% 8.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 16.5%
FY24 Q1 9.2%
FY24 Q2 -1.7%
FY24 Q3 -8.8%
FY24 Q4 -15.6%
FY25 Q1 -21.0%
FY25 Q2 -22.3%
FY25 Q3 -20.6%
FY25 Q4 -11.7%
FY26 Q1 -2.6%
FY26 Q2 4.0%
FY26 Q3 8.0%
Operating margin (TTM) Deere & Company
14% 16% 18% 20% 22% FY21 Q1 FY21 Q4 FY22 Q3 FY23 Q4 Operating margin (TTM), FY21 Q1: 14.3% Operating margin (TTM), FY21 Q2: 17.0% Operating margin (TTM), FY21 Q3: 18.0% Operating margin (TTM), FY21 Q4: 18.2% Operating margin (TTM), FY22 Q1: 17.1% Operating margin (TTM), FY22 Q2: 17.1% Operating margin (TTM), FY22 Q3: 17.0% Operating margin (TTM), FY22 Q4: 18.1% Operating margin (TTM), FY23 Q1: 19.4% Operating margin (TTM), FY23 Q2: 20.1% Operating margin (TTM), FY23 Q3: 21.0% Operating margin (TTM), FY23 Q4: 21.2% 21.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY21 Q1 14.3%
FY21 Q2 17.0%
FY21 Q3 18.0%
FY21 Q4 18.2%
FY22 Q1 17.1%
FY22 Q2 17.1%
FY22 Q3 17.0%
FY22 Q4 18.1%
FY23 Q1 19.4%
FY23 Q2 20.1%
FY23 Q3 21.0%
FY23 Q4 21.2%
FCF margin (TTM) Deere & Company
10% 12% 14% 16% 18% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 11.6% FCF margin (TTM), FY24 Q1: 12.1% FCF margin (TTM), FY24 Q2: 13.7% FCF margin (TTM), FY24 Q3: 14.6% FCF margin (TTM), FY24 Q4: 14.7% FCF margin (TTM), FY25 Q1: 15.4% FCF margin (TTM), FY25 Q2: 16.2% FCF margin (TTM), FY25 Q3: 16.0% FCF margin (TTM), FY25 Q4: 13.4% FCF margin (TTM), FY26 Q1: 13.8% FCF margin (TTM), FY26 Q2: 14.1% FCF margin (TTM), FY26 Q3: 12.5% 12.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 11.6%
FY24 Q1 12.1%
FY24 Q2 13.7%
FY24 Q3 14.6%
FY24 Q4 14.7%
FY25 Q1 15.4%
FY25 Q2 16.2%
FY25 Q3 16.0%
FY25 Q4 13.4%
FY26 Q1 13.8%
FY26 Q2 14.1%
FY26 Q3 12.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Oct 2009 2010 Oct 2010 2011 Oct 2011 2012 Oct 2012 2013 Oct 2013 2014 Oct 2014 2015 Nov 2015 2016 Oct 2016 2017 Oct 2017 2018 Oct 2018 2019 Nov 2019 2020 Nov 2020 2021 Oct 2021 2022 Oct 2022 2023 Oct 2023 2024 Oct 2024 2025 Nov 2025 LTM Aug 2026
Income
Revenue 23.1 26.0 32.0 36.2 37.8 36.1 28.9 26.6 29.7 37.4 39.3 35.5 44.0 52.6 61.3 51.7 45.7 48.0
EBITDA 2.5 4.3 5.5 6.1 7.1 6.5 4.5 4.2 5.3 6.4 6.4 6.4 10.1 11.4 15.0 11.2 — —
Operating income 1.6 3.4 4.6 5.1 5.9 5.2 3.1 2.6 3.6 4.5 4.4 4.3 8.0 9.5 13.0 9.0 — —
Net income 0.9 1.9 2.8 3.1 3.5 3.2 1.9 1.5 2.2 2.4 3.3 2.8 6.0 7.1 10.2 7.1 5.0 4.9
Diluted EPS $2.06 $4.35 $6.63 $7.63 $9.09 $8.63 $5.77 $4.81 $6.68 $7.24 $10.15 $8.69 $18.99 $23.28 $34.63 $25.62 $18.50 $17.99
Growth (year on year)
Revenue −18.7% +12.5% +23.1% +12.9% +4.5% −4.6% −20.0% −7.7% +11.6% +25.6% +5.1% −9.5% +23.9% +19.4% +16.5% −15.6% −11.7% +8.0%
EBITDA −41.7% +74.3% +26.7% +11.6% +15.6% −7.7% −30.7% −7.8% +26.9% +21.0% +0.5% −0.2% +56.7% +13.3% +31.2% −25.4% — —
Operating income −53.0% +112.1% +33.9% +11.9% +16.0% −12.0% −39.8% −16.9% +37.0% +25.2% −1.4% −2.5% +86.1% +18.7% +36.3% −30.2% — —
Net income −57.4% +113.5% +50.1% +9.5% +15.4% −10.6% −38.6% −21.4% +41.7% +9.7% +37.4% −15.4% +116.8% +19.6% +42.6% −30.2% −29.2% −6.4%
Diluted EPS −56.2% +111.2% +52.4% +15.1% +19.1% −5.1% −33.1% −16.6% +38.9% +8.4% +40.2% −14.4% +118.5% +22.6% +48.8% −26.0% −27.8% −5.9%
Margins
EBITDA margin 10.7% 16.6% 17.1% 16.9% 18.7% 18.1% 15.7% 15.6% 17.8% 17.1% 16.4% 18.1% 22.9% 21.7% 24.4% 21.6% — —
Operating margin 7.0% 13.1% 14.3% 14.1% 15.7% 14.5% 10.9% 9.8% 12.0% 12.0% 11.2% 12.1% 18.2% 18.1% 21.2% 17.5% — —
Net margin 3.8% 7.2% 8.7% 8.5% 9.4% 8.8% 6.7% 5.7% 7.3% 6.3% 8.3% 7.7% 13.5% 13.6% 16.6% 13.7% 11.0% 10.2%
Free-cash-flow margin 4.7% 5.8% 4.0% −0.4% 5.5% 6.9% 10.6% 11.7% 5.4% 2.5% 5.8% 18.7% 15.6% 6.8% 11.6% 14.7% 13.4% 12.5%
Cash flow
Cash from operations 2.0 2.3 2.3 1.2 3.3 3.5 3.8 3.8 2.2 1.8 3.4 7.5 7.7 4.7 8.6 9.2 7.5 7.2
Capital spending 0.9 0.8 1.1 1.3 1.2 1.0 0.7 0.6 0.6 0.9 1.1 0.8 0.8 1.1 1.5 1.6 1.4 1.2
Free cash flow 1.1 1.5 1.3 −0.2 2.1 2.5 3.1 3.1 1.6 0.9 2.3 6.7 6.9 3.6 7.1 7.6 6.1 6.0
Stock-based pay 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2
Free cash flow after stock pay 1.0 1.4 1.2 −0.2 2.0 2.4 3.0 3.1 1.5 0.8 2.2 6.6 6.8 3.5 7.0 7.4 5.9 5.9
Balance sheet
Cash 4.7 3.8 3.6 4.7 3.5 3.8 4.2 4.3 9.3 3.9 3.9 7.1 8.0 4.8 7.5 7.3 8.3 8.9
Total debt 17.4 16.8 17.0 22.5 21.6 — 23.8 — 25.9 27.2 30.2 41.3 43.8 12.6 17.9 13.5 13.8 17.1
Net debt (negative = net cash) 12.7 13.0 13.3 17.8 18.1 −3.8 19.7 −4.3 16.6 23.3 26.4 34.3 35.8 7.8 10.5 6.2 5.5 8.2
Diluted shares 424m 429m 422m 402m 389m 366m 336m 317m 323m 327m 321m 317m 314m 306m 294m 277m 272m 271m
Returned to shareholders
Dividends 0.5 0.5 0.6 0.7 0.8 0.8 0.8 0.8 0.8 0.8 0.9 1.0 1.0 1.3 1.4 1.6 1.7 1.8
Buybacks 0.0 0.4 1.7 1.6 1.5 2.7 2.8 0.2 0.0 1.0 1.3 0.8 2.5 3.6 7.2 4.0 1.1 0.7
Total returned 0.5 0.8 2.3 2.3 2.3 3.5 3.6 1.0 0.8 1.8 2.2 1.7 3.6 4.9 8.6 5.6 2.9 2.5

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 0 checks passed · August 2, 2026
  • Short-term assets cover short-term liabilities The company doesn't report a short-term split. Not assessable.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Deere & Company's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$699M
Dividends (TTM)
$1.8B
Returned to shareholders
41%
of free cash flow
Buybacks, last 3 fiscal years
$12.4B
Diluted share count
−0.5%
year over year
Total shareholder yield
1.4%
dividends 1.0% + buybacks 0.4% of market value
Dividend payout ratio
36%
of net income paid out
R&D spending
5.0%
of revenue
Sales & admin spending
9.7%
of revenue

Competitors: side by side with peers

Closest by revenue in agricultural & farm machinery
Last 12 months unless stated DE CNH AGCO TTC ALG LNN Median
Revenue, last 12 months $48.0bn $18.2bn $10.1bn $4.8bn $1.7bn $636m $4.8bn
Revenue growth, last 12 months 8.0% 0.6% 0.9% 5.2% 4.1% −6.0% 4.1%
Revenue growth, 3-year average −7.9% −9.7% −11.3% 0.1% 1.1% −1.9% −5.7%
Revenue growth, latest quarter 4.9% 2.0% −8.6% 8.4% 7.6% 5.2% 4.9%
Gross margin 21.4% 30.6% 25.0% 33.4% 24.2% 28.9% 26.0%
Operating margin 21.2% 6.0% 5.6% 10.3% 8.9% 10.5% 8.9%
Operating margin, 3-year average 19.1% — 3.6% 10.4% 10.1% 12.1% 10.3%
Net margin 10.2% 1.7% 2.8% 7.6% 6.1% 8.8% 6.1%
Cash from operations / revenue 15.1% 9.8% 5.4% 16.6% 9.8% 11.8% 9.8%
Free-cash-flow margin 12.5% 2.5% 2.9% 15.0% 8.1% 5.5% 5.5%
Free-cash-flow margin, 3-year average 14.4% — 4.4% 11.4% 8.5% 9.9% 9.2%
Stock pay / revenue 0.3% 0.1% 0.4% 0.5% 0.5% 0.9% 0.5%
Change in share count −0.5% −0.6% −3.8% −3.7% 0.4% −4.4% −0.6%

Median of all 7 companies we cover in agricultural & farm machinery. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

7 agricultural & farm machinery companies
Measure Company Peer median Rank
Revenue growth Growth 8.0% 4.1% 1 of 7
Change in growth rate Growth +4.0pp +1.8pp 2 of 7
Net margin Profitability 10.2% 6.1% 1 of 7
Free-cash-flow margin Cash generation 12.5% 8.1% 2 of 6
Stock pay as % of revenue Cash generation 0.3% 0.5% 1 of 6
Change in share count Balance sheet -0.5% -0.6% 5 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to November 2, 2025
Segments
Line of business Revenue YoY
Production and Precision Agriculture $17.7B ▼ 17.2%
Construction and Forestry $11.7B ▼ 12.1%
Small Agriculture and Turf $10.5B ▼ 7.0%

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue YoY
Products $38.9B ▼ 13.1%
Production Agriculture $17B ▼ 17.6%
Small Agriculture $7.2B ▼ 6.2%
Financial Service $5.7B ▼ 0.2%
Construction Equipment $4.6B ▼ 17.3%
Roadbuilding $3.6B ▼ 2.4%
Turf $2.7B ▼ 9.7%
Compact Construction Equipment $1.9B ▼ 21.8%
Forestry $1.1B ▲ 1.4%
Other $1B ▼ 14.9%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $24B 52.5% ▼ 20.7%
Western Europe $6.5B 14.3% ▲ 5.8%
Latin America $5.6B 12.3% ▲ 1.2%
Asia Africa Oceania and Middle East $4.2B 9.3% ▼ 2.7%
Canada $3.7B 8.2% ▼ 4.2%
Central Europe and Commonwealth of Independent States $1.6B 3.4% ▲ 5.8%

From Deere & Company's 10-K filed December 18, 2025, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$129B
Institutions reporting
2,645
Shares held vs prior quarter
▲ 4.8%
Positions opened / closed
192 / 132

Top buyers and sellers, Q2 2026: 1,211 institutions bought and 1,015 sold ; the biggest buyer was Capital International Investors (+4.7M shares) and the biggest seller Capital World Investors (−771K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $11.8B 18.5M 9.1% ▲ 1.2%
Vanguard Capital Management LLC $10.5B 16.6M 8.2% ▲ 0.3%
Capital World Investors $7.3B 11.5M 5.7% ▼ 6.3%
State Street Corp $6.9B 10.9M 5.4% ▲ 2.4%
Jpmorgan Chase & Co $5.8B 9.2M 4.5% ▼ 2.9%
Price T Rowe Associates Inc $4.8B 7.5M 3.7% ▼ 4.3%
FMR LLC $4.8B 7.5M 3.7% ▲ 14.7%
Capital International Investors $4.1B 6.4M 3.2% ▲ 276.3%
Geode Capital Management, LLC $3.6B 5.7M 2.8% ▲ 0.5%
Morgan Stanley $2.8B 4.4M 2.2% ▲ 2.8%
Vanguard Portfolio Management LLC $2.4B 3.8M 1.9% ▲ 1.9%
Gates Foundation Trust $2.3B 3.6M 1.8% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Deere & Company's complete shareholder register. Values are as reported by the filers ; 7 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $55.9M 27 trades by 3 insiders · 100% under pre-set plans
Net ▼ $55.9M net selling
Insider Date Trade Shares Price Value
Campbell Ryan D Pres WWC&F and Pwr Systems August 31, 2026 Sell pre-set plan 3 $656.64 $1,970
Campbell Ryan D Pres WWC&F and Pwr Systems August 31, 2026 Sell pre-set plan 199 $655.91 $130,526
Campbell Ryan D Pres WWC&F and Pwr Systems August 31, 2026 Sell pre-set plan 391 $654.22 $255,800
Campbell Ryan D Pres WWC&F and Pwr Systems August 31, 2026 Sell pre-set plan 363 $652.75 $236,948
Campbell Ryan D Pres WWC&F and Pwr Systems August 31, 2026 Sell pre-set plan 975 $651.43 $635,144
Campbell Ryan D Pres WWC&F and Pwr Systems August 31, 2026 Sell pre-set plan 2,929 $650.18 $1.9M
Campbell Ryan D Pres WWC&F and Pwr Systems August 24, 2026 Sell pre-set plan 508 $659.87 $335,214
Campbell Ryan D Pres WWC&F and Pwr Systems August 24, 2026 Sell pre-set plan 120 $658.64 $79,037
Campbell Ryan D Pres WWC&F and Pwr Systems August 24, 2026 Sell pre-set plan 528 $657.43 $347,123
Campbell Ryan D Pres WWC&F and Pwr Systems August 24, 2026 Sell pre-set plan 336 $656.33 $220,527
Campbell Ryan D Pres WWC&F and Pwr Systems August 24, 2026 Sell pre-set plan 1,560 $655.45 $1M
Campbell Ryan D Pres WWC&F and Pwr Systems August 24, 2026 Sell pre-set plan 1,280 $654.45 $837,696

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 82 trades and filings

In the last 12 months, 2 members of Congress disclosed 0 purchases and 3 sales of Deere & Company shares.

  • Dan Newhouse(R-WA 4):Sale (partial), $1,001 - $15,000, traded July 10, 2026, filed July 17, 2026
  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded December 18, 2025, filed January 15, 2026
  • Julie Johnson(D-TX 32):Sale (partial), $1,001 - $15,000, traded November 13, 2025, filed December 11, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 25, 2026 estimated from the company's past filing pattern, not announced

  • August 20, 2026
  • May 21, 2026
  • February 19, 2026
  • November 26, 2025
  • August 14, 2025
  • May 15, 2025

Recent SEC filings

Data status

When each part of this page on Deere & Company was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Deere & Company in brief

What does Deere & Company do?
Deere & Company is a US-listed company in the agricultural & farm machinery industry. Its financial year ends in October.
What is Deere & Company's stock ticker?
Deere & Company trades under the ticker DE on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Deere & Company's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Deere & Company reported revenue of $48B, 8.0% higher than a year earlier, according to its SEC filings.
What is Deere & Company's free cash flow?
Deere & Company's free-cash-flow margin is 12.5% of revenue over the trailing twelve months, ranking 2 of the 6 agricultural & farm machinery companies we cover.
Who are Deere & Company's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Capital World Investors. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Deere & Company buying back stock, and does it pay a dividend?
Deere & Company spent $699M on share repurchases over the trailing twelve months, and its diluted share count fell 0.5% over the year.
What is Deere & Company's market cap?
On November 2, 2026, Deere & Company's market capitalisation was about $181B, with a price-to-earnings ratio of 37.1 and net debt of $8.2B. Market figures come from third-party market data and may be delayed.
Does Deere & Company pay a dividend?
Yes: Deere & Company paid $1.8B in dividends over the trailing twelve months, a dividend yield of 0.97% and a payout ratio of 36.0%.
Who are Deere & Company's competitors?
In our Agricultural & Farm Machinery peer group, the companies closest to Deere & Company are CNH Industrial N.V., AGCO Corp, Toro Co, Alamo Group Inc and Lindsay Corp. The side-by-side comparison below sets their revenue, margins and growth against Deere & Company's.
Are insiders buying or selling Deere & Company stock?
Over the last 12 months, Deere & Company's directors and officers reported 0 open-market purchases and 27 sales on Form 4. The insider trading page charts every trade.
When is Deere & Company's next earnings date?
Around November 25, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Deere & Company announces its own schedule.