Company financials

Deere & Company

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

                    Revenue
                    FY2025
                
$45.7B
                    3y CAGR -4.6%
                    
                    P8
                    
                    -11.7%
                    
                    Net income
                    FY2025
                
$5.0B
                    Net margin +11.0%
                    
                    P46
                    
                    -29.2%
                    
                    Total assets
                    FY2025
                
$106.0B
                    ROA +4.7%
                    
                    P19
                    
                    -1.2%
                    
                    Operating cash flow
                    FY2025
                
$7.5B
                    FCF margin +13.4%
                    
                    P51
                    
                    -19.2%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 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

29 accounts · 3 years

Total assets $106.0B

Total liabilities $80.0B

Shareholders equity $25.9B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	18.1%	14.2%	12.2%
Short Term Investments	3.1%	2.2%	1.5%
Accounts Receivable	11.6%	10.3%	12.6%
Inventory	16.2%	13.7%	13.3%
Other Current Assets	7.6%	—	—
Total Current Assets	30.2%	—	—
Goodwill	9.2%	7.7%	6.4%
Intangible Assets	2.0%	1.9%	1.8%
Deferred Tax Assets	5.0%	—	—
Other Noncurrent Assets	7.6%	—	—
Total Assets	232.0%	207.5%	169.9%
Liabilities
Accounts Payable	0.4%	28.1%	26.3%
Accrued Liabilities	2.3%	—	—
Current Portion of Long Term Debt	30.2%	—	—
Operating Lease Liabilities	0.7%	—	—
Total Current Liabilities	175.1%	—	—
Long Term Debt	0.3%	—	—
Operating Lease Liabilities Noncurrent	0.7%	—	—
Deferred Tax Liabilities	1.0%	0.9%	0.8%
Other Noncurrent Liabilities	2.3%	—	—
Total Liabilities	175.1%	163.2%	134.2%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	12.4%	10.6%	8.7%
Retained Earnings	130.6%	109.1%	83.2%
Treasury Stock	79.6%	7.8%	11.9%
Accumulated Other Comprehensive Income	-6.6%	-7.2%	-5.1%
Noncontrolling Interest	0.0%	0.0%	0.0%
Total Stockholders Equity	56.8%	44.2%	35.6%
Total Liabilitiesand Equity	232.0%	207.3%	169.8%

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $45.7B

Operating income $9.0B

Net income $5.0B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	86.3%	—	—
Expenses Research and Development	5.1%	4.4%	3.6%
Expenses Selling,General and Administrative	10.2%	9.4%	7.5%
Expenses Depreciation and Amortization	4.9%	4.1%	3.3%
Expenses Share Based Compensation	0.3%	0.4%	0.2%
Expenses Operating Expenses	86.3%	—	—
Other Income Expense Interest Expense	6.9%	—	—
Other Income Expense Income Before Tax	13.7%	17.8%	21.3%
Income Tax Income Tax Expense	2.8%	4.0%	4.7%
net Income net Income	11.0%	13.7%	16.6%
net Income Comprehensive Income	12.5%	12.6%	16.5%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.6%	0.5%	0.5%
Earnings Per Share Weighted Average Shares Diluted	0.6%	0.5%	0.5%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 3 years

Operating cash flow $7.5B

Investing cash flow $-2.1B

Financing cash flow $-4.6B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	11.0%	13.7%	16.6%
Operating Activities Depreciation and Amortization	4.9%	4.1%	3.3%
Operating Activities Stock Based Compensation	0.3%	—	—
Operating Activities Deferred Income Taxes	-0.6%	-0.6%	-1.3%
Operating Activities Changes In Operating Assets and Liabilities	0.6%	0.3%	-0.4%
Operating Activities net Cash From Operating Activities	16.3%	17.8%	14.0%
Investing Activities Capital Expenditures	3.0%	3.2%	2.4%
Investing Activities Business Acquisitions	0.2%	—	0.1%
Investing Activities Purchases of Investments	1.5%	—	—
Investing Activities Proceeds From Sale of Investments	1.1%	—	—
Investing Activities Other Investing Activities	0.3%	0.2%	0.2%
Investing Activities net Cash From Investing Activities	-4.5%	-12.5%	-14.3%
Financing Activities Repayment of Debt	26.8%	—	—
Financing Activities Repurchase of Common Stock	2.5%	—	—
Financing Activities Dividends Paid	3.8%	3.1%	2.3%
Financing Activities Other Financing Activities	-0.2%	-0.2%	-0.1%
Financing Activities net Cash From Financing Activities	-10.0%	-5.3%	4.6%
Cash Reconciliation Effect of Exchange Rate On Cash	0.2%	—	—
Cash Reconciliation net Change In Cash	2.0%	0.0%	4.4%
Cash Reconciliation Cash At Beginning of Period	18.7%	14.2%	12.2%
Cash Reconciliation Cash At End of Period	18.7%	14.2%	12.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+13.7%	+17.8%	+21.3%
Operating margin	—	+17.5%	+21.2%
Net margin	+11.0%	+13.7%	+16.6%
FCF margin	+13.4%	+14.7%	+11.6%
Growth
Revenue CAGR (3y)	-4.6%	+5.5%	+19.9%
Returns
ROE	+19.4%	+31.1%	+46.7%
ROA	+4.7%	+6.6%	+9.8%
ROIC	—	—	—
Liquidity
Current ratio	0.17x	—	—
Quick ratio	0.17x	—	—
Leverage
D/E	3.08x	3.70x	3.77x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.43x	0.48x	0.59x
Cash conversion cycle	+109d	-26d	-14d

Valuation

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FY2025 fundamentals · no price

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Deere & Company

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