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

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	$8.3B 13.0%	$7.3B -1.8%	$7.5B
Short Term Investments	$1.4B 22.3%	$1.2B 22.0%	$946.0M
Accounts Receivable	$5.3B -0.2%	$5.3B -31.2%	$7.7B
Inventory	$7.4B 4.4%	$7.1B -13.1%	$8.2B
Other Current Assets	$3.5B	—	—
Total Current Assets	$13.8B	—	—
Goodwill	$4.2B 5.8%	$4.0B 1.5%	$3.9B
Intangible Assets	$892.0M -10.7%	$999.0M -11.8%	$1.1B
Deferred Tax Assets	$2.3B	—	—
Other Noncurrent Assets	$3.5B	—	—
Total Assets	$106.0B -1.2%	$107.3B 3.1%	$104.1B
Liabilities
Accounts Payable	$191.0M -98.7%	$14.5B -9.8%	$16.1B
Accrued Liabilities	$1.1B	—	—
Current Portion of Long Term Debt	$13.8B	—	—
Operating Lease Liabilities	$314.0M	—	—
Total Current Liabilities	$80.0B	—	—
Long Term Debt	$155.0M	—	—
Operating Lease Liabilities Noncurrent	$314.0M	—	—
Deferred Tax Liabilities	$434.0M -9.2%	$478.0M -8.1%	$520.0M
Other Noncurrent Liabilities	$1.1B	—	—
Total Liabilities	$80.0B -5.2%	$84.4B 2.7%	$82.2B
Equity
Preferred Stock	$0	$0	$0
Common Stock	$5.7B 3.3%	$5.5B 3.5%	$5.3B
Retained Earnings	$59.7B 5.8%	$56.4B 10.7%	$50.9B
Treasury Stock	$36.4B 799.2%	$4.0B -44.4%	$7.3B
Accumulated Other Comprehensive Income	$-3.0B 18.2%	$-3.7B -19.0%	$-3.1B
Noncontrolling Interest	$6.0M -14.3%	$7.0M 75.0%	$4.0M
Total Stockholders Equity	$25.9B 13.6%	$22.8B 4.8%	$21.8B
Total Liabilitiesand Equity	$106.0B -1.2%	$107.2B 3.1%	$104.0B

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	$45.7B -11.7%	$51.7B -15.6%	$61.3B
Expenses Cost of Revenue	$39.4B	—	—
Expenses Research and Development	$2.3B 0.9%	$2.3B 5.2%	$2.2B
Expenses Selling,General and Administrative	$4.7B -3.7%	$4.8B 5.3%	$4.6B
Expenses Depreciation and Amortization	$2.2B 5.2%	$2.1B 5.7%	$2.0B
Expenses Share Based Compensation	$151.0M -27.4%	$208.0M 60.0%	$130.0M
Expenses Operating Expenses	$39.4B	—	—
Other Income Expense Interest Expense	$3.2B	—	—
Other Income Expense Income Before Tax	$6.3B -32.0%	$9.2B -29.3%	$13.0B
Income Tax Income Tax Expense	$1.3B -39.9%	$2.1B -27.1%	$2.9B
net Income net Income	$5.0B -29.2%	$7.1B -30.2%	$10.2B
net Income Comprehensive Income	$5.7B -12.4%	$6.5B -35.6%	$10.1B
Earnings Per Share Basic Eps	$19 -27.9%	$26 -26.1%	$35
Earnings Per Share Diluted Eps	$18 -27.8%	$26 -26.0%	$35
Earnings Per Share Weighted Average Shares Basic	$270.9M -1.8%	$276.0M -5.5%	$292.2M
Earnings Per Share Weighted Average Shares Diluted	$271.7M -1.9%	$277.1M -5.6%	$293.6M

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	$5.0B -29.2%	$7.1B -30.2%	$10.2B
Operating Activities Depreciation and Amortization	$2.2B 5.2%	$2.1B 5.7%	$2.0B
Operating Activities Stock Based Compensation	$151.0M	—	—
Operating Activities Deferred Income Taxes	$-288.0M 2.0%	$-294.0M 62.8%	$-790.0M
Operating Activities Changes In Operating Assets and Liabilities	$275.0M 92.3%	$143.0M 156.7%	$-252.0M
Operating Activities net Cash From Operating Activities	$7.5B -19.2%	$9.2B 7.5%	$8.6B
Investing Activities Capital Expenditures	$1.4B -17.1%	$1.6B 9.5%	$1.5B
Investing Activities Business Acquisitions	$101.0M	—	$82.0M
Investing Activities Purchases of Investments	$703.0M	—	—
Investing Activities Proceeds From Sale of Investments	$486.0M	—	—
Investing Activities Other Investing Activities	$148.0M 16.5%	$127.0M -10.6%	$142.0M
Investing Activities net Cash From Investing Activities	$-2.1B 68.2%	$-6.5B 26.1%	$-8.7B
Financing Activities Repayment of Debt	$12.3B	—	—
Financing Activities Repurchase of Common Stock	$1.1B	—	—
Financing Activities Dividends Paid	$1.7B 7.2%	$1.6B 12.5%	$1.4B
Financing Activities Other Financing Activities	$-79.0M 30.1%	$-113.0M -54.8%	$-73.0M
Financing Activities net Cash From Financing Activities	$-4.6B -68.5%	$-2.7B -196.8%	$2.8B
Cash Reconciliation Effect of Exchange Rate On Cash	$77.0M	—	—
Cash Reconciliation net Change In Cash	$900.0M 6823.1%	$13.0M -99.5%	$2.7B
Cash Reconciliation Cash At Beginning of Period	$8.5B 16.5%	$7.3B -1.8%	$7.5B
Cash Reconciliation Cash At End of Period	$8.5B 16.5%	$7.3B -1.8%	$7.5B

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

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Deere & Company

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