Deere & Company (DE) stock analysis
Company overview and business model
Source fact: Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides four-wheel-drive track and row crop tractors, harvesters, cotton pickers and strippers, sugarcane harvesters and loaders, soil preparation, tillage, seeding, and crop care equipment, as well as application equipment, including sprayers and nutrient management, soil preparation machinery, and related attachments and service parts. The Small Agriculture and Turf segment offers specialty, utility, and compact tractors; self-propelled forage harvesters and attachments; rotary mowers, hay and forage equipment, and utility vehicles; turf and utility equipment, including riding lawn, commercial mowing, and golf course equipment, and utility vehicles, as well as implements for mowing, tilling, snow and debris handling, aerating, residential, commercial, golf, and sports turf care applications. The Construction and Forestry segment provides backhoe loaders, crawler dozers and loaders, four-wheel-drive loaders, excavators, motor graders, articulated dump trucks, skid-steer loaders, milling machines, recyclers, slipform and asphalt pavers, surface miners, compactors, tandem, static rollers, mobile crushers and screens, mobile and stationary asphalt plants, and log harvesters; and road building and rehabilitation equipment. The Financial Services segment finances sales and leases agriculture and turf, and construction and forestry equipment. It also offers wholesale financing to dealers of the foregoing equipment; and extended equipment warranties. Deere & Company has a strategic partnership with Tarter USA to develop and produce flex wing rotary cutters. The company was founded in 1837 and is headquartered in Moline, Illinois.
Classification: NYSE · Industrials · Farm & Heavy Construction Machinery
Revenue and growth
Source fact: Revenue was USD 45.68 billion for the period ending 2025-11-02.
Caverian calculation: Revenue changed -9.6% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 5.03 billion in the latest reported period.
Source metric: Reported net margin was 11.0%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 8.28 billion.
Cash-flow analysis
Source fact: Operating cash flow was USD 7.46 billion.
Source fact: Free cash flow was USD 6.10 billion.
Valuation
Source metrics: Trailing P/E 34.25x; Forward P/E 27.06x; Price to book 5.95x; Price to sales 3.45x; EV/EBITDA 22.80x.
Caverian model output: Value score was 47/100.
Competitive position
Classification: Peer context: Farm & Heavy Construction Machinery within Industrials.
Caverian model output: Quality score was 63/100.
Caverian model limitation: Quality evidence was limited: 6 of 10 inputs were available (56% weighted coverage). Unavailable or not-meaningful inputs contributed a neutral 50, changing the raw 65 score to 63; further research is required.
Caverian model output: Growth score was 37/100.
Material risks
Caverian model interpretation: Watch out: limited Quality evidence (56% weighted coverage) — unavailable/NM inputs were averaged at neutral, changing the raw 65 score to 63; further research is required.
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles