Company financials

Deere & Company

Industrials Agricultural & Farm Machinery Moline, Illinois Last filing Dec 18, 2025 · FY2025

                    Revenue
                    FY2025
                
$45.7B
                    3y CAGR -4.6%
                    
                    P9
                    
                    -11.7%
                    
                    Net income
                    FY2025
                
$5.0B
                    Net margin +11.0%
                    
                    P44
                    
                    -29.2%
                    
                    Total assets
                    FY2025
                
$106.0B
                    ROA +4.7%
                    
                    P19
                    
                    -1.2%
                    
                    Operating cash flow
                    FY2025
                
$7.5B
                    FCF margin +7.1%
                    
                    P23
                    
                    -19.2%

19 yrs · FY2007–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

23 accounts · 10 years

Total assets $106.0B

Total liabilities $80.0B

Shareholders equity $25.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	18.1%	14.2%	12.2%	9.1%	18.2%	19.9%	9.8%	10.5%	31.4%	16.3%
Accounts Receivable	11.6%	10.3%	12.6%	12.2%	9.6%	11.7%	13.3%	13.4%	—	—
Inventory	16.2%	13.7%	13.3%	16.2%	15.4%	14.1%	15.2%	16.5%	13.1%	12.5%
Property,Plant and Equipment	17.7%	14.7%	11.2%	11.5%	13.2%	16.4%	15.2%	15.7%	17.0%	19.4%
Operating Lease Assets	16.6%	14.4%	11.3%	12.6%	15.9%	20.5%	19.3%	19.2%	22.2%	22.1%
Goodwill	9.2%	7.7%	6.4%	7.0%	7.5%	8.7%	7.4%	8.3%	3.5%	3.1%
Intangible Assets	2.0%	1.9%	1.8%	2.3%	2.9%	3.7%	3.5%	4.2%	0.7%	0.4%
Deferred Tax Assets	5.0%	4.0%	3.0%	1.6%	2.4%	4.2%	3.7%	2.2%	8.1%	11.1%
Other Noncurrent Assets	23.1%	24.1%	14.8%	17.8%	18.7%	111.5%	97.9%	97.6%	124.5%	131.8%
Total Assets	232.0%	207.5%	169.9%	171.2%	191.1%	211.3%	186.0%	187.7%	221.2%	217.6%
Liabilities
Current Portion of Long Term Debt	30.2%	26.2%	29.3%	23.9%	24.8%	24.1%	—	—	—	—
Long Term Debt	95.3%	83.6%	62.8%	63.9%	74.7%	92.1%	77.0%	72.9%	87.1%	89.2%
Deferred Tax Liabilities	1.0%	0.9%	0.8%	0.9%	1.3%	1.5%	1.3%	1.5%	0.7%	0.6%
Other Noncurrent Liabilities	48.6%	52.5%	41.2%	43.7%	48.4%	57.2%	78.6%	83.3%	101.3%	103.3%
Total Liabilities	175.1%	163.2%	134.2%	132.5%	149.2%	174.9%	156.9%	157.4%	189.0%	193.1%
Equity
Common Stock	12.4%	10.6%	8.7%	9.8%	11.5%	13.8%	11.8%	12.0%	14.4%	14.7%
Retained Earnings	130.6%	109.1%	83.2%	80.4%	82.8%	89.0%	76.0%	73.8%	85.1%	89.7%
Treasury Stock	79.6%	68.4%	51.2%	45.8%	46.6%	50.8%	44.5%	43.7%	52.0%	58.8%
Accumulated Other Comprehensive Income	-6.6%	-7.2%	-5.1%	-5.8%	-5.8%	-15.6%	-14.3%	-11.9%	-15.3%	-21.1%
Total Stockholders Equity	56.8%	44.2%	35.6%	38.5%	41.9%	36.4%	29.1%	30.2%	32.1%	24.5%
Noncontrolling Interest	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Temporary Equity and Other	0.1%	0.2%	0.2%	0.2%	—	—	0.0%	0.0%	0.0%	0.1%
Total Liabilitiesand Equity	232.0%	207.5%	169.9%	171.2%	191.1%	211.3%	186.0%	187.7%	221.2%	217.6%

Income Statement

Revenue, expense, and profitability

13 accounts · 10 years

Revenue $45.7B

Operating income Not reported

Net income $5.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Research and Development	5.1%	4.4%	3.6%	3.6%	3.6%	4.6%	4.5%	4.4%	4.6%	5.2%
Expenses Selling,General and Administrative	10.2%	9.4%	7.5%	7.3%	7.7%	9.8%	9.0%	9.2%	10.4%	10.5%
Other Income Expense Interest Expense	6.9%	6.5%	4.0%	2.0%	2.3%	3.5%	3.7%	3.2%	3.0%	2.9%
Other Income Expense Other Income/expense	-2.5%	-2.4%	-2.1%	-2.4%	-3.1%	-4.5%	—	—	—	—
Other Income Expense Income Before Tax	13.7%	17.8%	21.3%	17.4%	17.3%	10.9%	10.4%	10.9%	10.6%	8.3%
Income Tax Income Tax Expense	2.8%	4.0%	4.7%	3.8%	3.8%	3.0%	2.2%	4.6%	3.3%	2.6%
net Income Other Items Below Tax	0.1%	-0.0%	0.0%	0.0%	0.0%	-0.1%	0.0%	0.1%	-0.1%	0.0%
net Income net Income	11.0%	13.7%	16.6%	13.6%	13.5%	7.7%	8.3%	6.3%	7.3%	5.7%
net Income Comprehensive Income	12.5%	12.6%	16.5%	12.6%	20.4%	7.9%	5.3%	8.6%	10.8%	2.4%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	0.6%	0.5%	0.5%	0.6%	0.7%	0.9%	0.8%	0.9%	1.1%	1.2%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 10 years

Operating cash flow $7.5B

Investing cash flow $-2.1B

Financing cash flow $-4.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	10.9%	13.7%	16.6%	13.6%	13.5%	7.7%	8.3%	6.3%	7.3%	5.7%
Operating Activities Depreciation and Amortization	4.9%	4.1%	3.3%	3.6%	4.7%	6.0%	5.1%	5.2%	5.8%	5.9%
Operating Activities Stock Based Compensation	0.3%	0.4%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.3%
Operating Activities Deferred Income Taxes	-0.6%	-0.6%	-1.3%	-0.1%	-1.0%	-0.0%	-1.2%	4.0%	0.3%	1.1%
Operating Activities Changes In Operating Assets and Liabilities	0.1%	-0.6%	-5.0%	-8.2%	0.1%	6.2%	-4.1%	-10.9%	-5.4%	0.9%
Operating Activities Other Non Cash Items	0.7%	0.8%	0.3%	-0.1%	0.1%	0.9%	0.3%	0.1%	-0.8%	0.4%
Operating Activities net Cash From Operating Activities	16.3%	17.8%	14.0%	8.9%	17.5%	21.1%	8.7%	4.9%	7.4%	14.1%
Investing Activities Capital Expenditures	-9.3%	-9.3%	-7.3%	-7.2%	-5.9%	-7.5%	-8.8%	-7.9%	-8.7%	-11.1%
Investing Activities Business Acquisitions	-0.2%	—	-0.1%	-0.9%	-0.6%	-0.2%	—	-14.0%	-1.0%	-0.7%
Investing Activities Purchases of Investments	-1.5%	-2.0%	-0.8%	-0.5%	—	-0.4%	-0.4%	-0.4%	-0.4%	-0.6%
Investing Activities Proceeds From Sale of Investments	1.1%	1.6%	0.3%	0.2%	—	0.3%	0.2%	0.2%	1.4%	0.6%
Investing Activities Other Investing Activities	5.4%	-2.8%	-6.4%	-7.7%	-6.6%	-1.6%	-1.1%	0.2%	3.1%	7.4%
Investing Activities net Cash From Investing Activities	-4.5%	-12.5%	-14.3%	-16.1%	-13.1%	-9.3%	-10.0%	-21.9%	-5.6%	-4.4%
Financing Activities Proceeds From Debt	28.8%	35.0%	25.2%	19.7%	19.8%	26.1%	25.4%	22.2%	29.3%	19.0%
Financing Activities Repayment of Debt	-26.8%	-25.6%	-12.9%	-16.1%	-16.1%	-20.8%	-16.4%	-16.7%	-18.1%	-19.8%
Financing Activities Repurchase of Common Stock	-2.5%	-7.7%	-11.8%	-6.8%	-5.8%	-2.1%	-3.2%	-2.6%	-0.0%	-0.8%
Financing Activities Dividends Paid	-3.8%	-3.1%	-2.3%	-2.5%	-2.4%	-2.7%	-2.4%	-2.2%	-2.6%	-2.9%
Financing Activities Other Financing Activities	-5.7%	-3.8%	6.4%	7.3%	2.0%	-4.2%	-2.6%	1.0%	4.1%	-4.8%
Financing Activities net Cash From Financing Activities	-10.0%	-5.3%	4.6%	1.6%	-2.4%	-2.8%	1.3%	2.3%	14.4%	-9.0%
Cash Reconciliation Effect of Exchange Rate On Cash	0.2%	-0.1%	0.1%	-0.4%	0.1%	0.1%	-0.1%	0.1%	0.5%	-0.0%
Cash Reconciliation net Change In Cash	2.0%	0.0%	4.4%	-6.1%	2.2%	9.0%	-0.2%	-14.6%	16.7%	0.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Net margin	+11.0%	+13.7%	+16.6%	+13.6%	+13.5%	+7.7%	+8.3%	+6.3%	+7.3%	+5.7%
FCF margin	+7.1%	+8.6%	+6.7%	+1.7%	+11.7%	+13.6%	-0.1%	-3.0%	-1.3%	+3.1%
Growth
Revenue CAGR (3y)	-4.6%	+5.5%	+19.9%	+10.2%	+5.6%	+6.1%	+13.8%	+9.0%	-6.2%	-11.0%
Returns
ROE	+19.4%	+31.1%	+46.7%	+35.2%	+32.4%	+21.3%	+28.5%	+21.0%	+22.6%	+23.4%
ROA	+4.7%	+6.6%	+9.8%	+7.9%	+7.1%	+3.7%	+4.5%	+3.4%	+3.3%	+2.6%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	—	—	—	—	—	—	—	—	—	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	3.08x	3.70x	3.77x	3.44x	3.56x	4.80x	5.40x	5.21x	5.88x	7.89x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.43x	0.48x	0.59x	0.58x	0.52x	0.47x	0.54x	0.53x	0.45x	0.46x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Deere & Company

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