Stock DE DEERE & COMPANY
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Financials Deere & Company

Equities

DE

US2441991054

Heavy Machinery & Vehicles

Market Closed - Nyse
Other stock markets
 21:00:02 26/04/2024 BST 		5-day change 1st Jan Change
393.3 USD -0.19% Intraday chart for Deere & Company -1.75% -1.64%
04-24 Caterpillar, Deere inventories in focus as machinery demand plateaus RE
04-15 Morgan Stanley Adjusts Deere & Co.'s Price Target to $450 From $430 MT

Valuation

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 54,823 71,456 106,137 119,777 104,011 109,487 - -
Enterprise Value (EV) 1 95,719 109,747 145,804 166,168 159,018 162,606 159,074 153,232
P/E ratio 17.2 x 26.2 x 18 x 17 x 10.4 x 14.5 x 14.2 x 13.3 x
Yield 1.75% 1.33% 0.97% 1.08% 1.34% 1.41% 1.49% 1.73%
Capitalization / Revenue 1.57 x 2.28 x 2.67 x 2.5 x 1.87 x 2.3 x 2.29 x 2.24 x
EV / Revenue 2.74 x 3.51 x 3.67 x 3.47 x 2.86 x 3.42 x 3.33 x 3.13 x
EV / EBITDA 17.6 x 20.6 x 16.1 x 15.8 x 11.3 x 14.5 x 13.9 x 12.6 x
EV / FCF 46 x 16.5 x 21.2 x 32.5 x 22.4 x 27.7 x 23.4 x 21.6 x
FCF Yield 2.18% 6.07% 4.72% 3.07% 4.46% 3.6% 4.27% 4.62%
Price to Book 4.78 x 5.53 x 5.79 x 5.96 x 4.84 x 4.9 x 4.66 x 3.8 x
Nbr of stocks (in thousands) 314,873 313,375 310,061 301,820 288,001 278,358 - -
Reference price 2 174.1 228.0 342.3 396.8 361.2 393.3 393.3 393.3
Announcement Date 27/11/19 25/11/20 24/11/21 23/11/22 22/11/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 34,886 31,272 39,737 47,917 55,565 47,614 47,748 48,958
EBITDA 1 5,430 5,321 9,055 10,549 14,081 11,204 11,452 12,207
EBIT 1 4,415 4,305 8,012 9,508 12,958 9,843 10,055 10,541
Operating Margin 12.66% 13.77% 20.16% 19.84% 23.32% 20.67% 21.06% 21.53%
Earnings before Tax (EBT) 1 4,088 3,883 7,602 9,127 13,019 9,663 9,676 10,071
Net income 1 3,253 2,751 5,963 7,131 10,166 7,575 7,536 7,825
Net margin 9.32% 8.8% 15.01% 14.88% 18.3% 15.91% 15.78% 15.98%
EPS 2 10.15 8.690 18.99 23.28 34.63 27.20 27.63 29.63
Free Cash Flow 1 2,082 6,667 6,878 5,108 7,091 5,860 6,797 7,081
FCF margin 5.97% 21.32% 17.31% 10.66% 12.76% 12.31% 14.24% 14.46%
FCF Conversion (EBITDA) 38.34% 125.3% 75.96% 48.42% 50.36% 52.3% 59.35% 58%
FCF Conversion (Net income) 64% 242.35% 115.34% 71.63% 69.75% 77.37% 90.2% 90.49%
Dividend per Share 2 3.040 3.040 3.320 4.280 4.830 5.530 5.856 6.818
Announcement Date 27/11/19 25/11/20 24/11/21 23/11/22 22/11/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: October 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 10,276 8,531 12,034 13,000 14,351 11,402 16,079 14,284 13,801 10,486 13,338 11,870 11,769 10,382 13,229
EBITDA 1 1,932 1,492 2,931 3,156 3,192 2,797 4,184 3,773 3,276 2,496 3,283 2,811 2,524 2,492 3,404
EBIT 1 1,692 1,235 2,670 2,646 2,957 2,518 3,898 3,516 3,025 2,194 2,919 2,462 2,229 2,114 3,019
Operating Margin 16.47% 14.48% 22.19% 20.35% 20.6% 22.08% 24.24% 24.61% 21.92% 20.92% 21.88% 20.74% 18.94% 20.37% 22.82%
Earnings before Tax (EBT) 1 1,613 1,151 2,552 2,539 2,886 2,493 3,848 3,606 3,073 2,215 2,908 2,508 2,282 1,752 2,534
Net income 1 1,283 903 2,098 1,884 2,246 1,959 2,860 2,978 2,369 1,751 2,212 1,921 1,742 1,472 2,139
Net margin 12.49% 10.58% 17.43% 14.49% 15.65% 17.18% 17.79% 20.85% 17.17% 16.7% 16.58% 16.19% 14.8% 14.18% 16.17%
EPS 2 4.120 2.920 6.810 6.160 7.440 6.550 9.650 10.20 8.260 6.230 7.950 6.949 6.267 5.564 7.934
Dividend per Share 2 0.9000 1.050 1.050 1.050 1.130 1.130 1.200 1.250 1.250 1.470 1.349 1.349 1.352 1.293 1.293
Announcement Date 24/11/21 18/02/22 20/05/22 19/08/22 23/11/22 17/02/23 19/05/23 18/08/23 22/11/23 15/02/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 40,896 38,291 39,667 46,391 55,007 53,119 49,587 43,745
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 7.531 x 7.196 x 4.381 x 4.398 x 3.906 x 4.741 x 4.33 x 3.584 x
Free Cash Flow 1 2,082 6,667 6,878 5,108 7,091 5,860 6,797 7,081
ROE (net income / shareholders' equity) 28.7% 22.6% 38% 36.9% 48.4% 32.7% 29.1% 30.1%
ROA (Net income/ Total Assets) 4.45% 3.72% 7.49% 8.19% 10.5% 13% 12.1% 14.6%
Assets 1 73,088 74,051 79,603 87,072 97,058 58,184 62,036 53,595
Book Value Per Share 2 36.50 41.30 59.10 66.50 74.60 80.30 84.50 104.0
Cash Flow per Share 2 15.70 16.60 24.50 15.30 29.30 37.60 37.30 34.60
Capex 1 1,118 816 848 1,134 1,498 1,893 1,544 1,404
Capex / Sales 3.2% 2.61% 2.13% 2.37% 2.7% 3.98% 3.23% 2.87%
Announcement Date 27/11/19 25/11/20 24/11/21 23/11/22 22/11/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Deere & Company

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
28
Last Close Price
393.3 USD
Average target price
421 USD
Spread / Average Target
+7.03%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Agricultural Machinery

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Agricultural Machinery
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