Deere & Company
DENYSE
$639.40
Last price · USD
- Market cap
- $173.7B
- P/E
- 34.6x
- EV / EBITDA
- 19.7x
- P/S
- 3.9x
- FCF yield
- 1.9%
- Div. yield
- 0.99%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Deere & Company cash flow statement
Annual · USD millions except per-share data · 37 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 4,998 | 7,088 | 10,166 | 7,130 | 5,965 | -4.3% | |
| Depreciation & amortization | 2,229 | 2,118 | 2,004 | 1,895 | 2,050 | +2.1% | |
| Deferred income tax | (288) | (294) | (790) | (66) | (441) | — | |
| Stock-based compensation | 151 | 208 | 130 | 85 | 82 | +16.5% | |
| Change in working capital | (443) | (181) | (3,337) | (4,315) | 396 | — | |
| Accounts receivables | 1,084 | 421 | (4,253) | (2,483) | 969 | +2.8% | |
| Inventory | (275) | 788 | 279 | (2,091) | (2,497) | — | |
| Accounts payables | 0 | 0 | 830 | 1,133 | 1,884 | — | |
| Other working capital | (1,252) | (1,390) | (193) | (874) | 40 | — | |
| Other non-cash items | 812 | 292 | 416 | (30) | (326) | — | |
| Net cash from operating activities | 7,459 | 9,231 | 8,589 | 4,699 | 7,726 | -0.9% | |
| Operating cash flow | 7,459 | 9,231 | 8,589 | 4,699 | 7,726 | -0.9% | |
| Investing activities | |||||||
| Investments in PP&E | (4,228) | (4,802) | (4,468) | (3,788) | (2,580) | — | |
| Capital expenditure | (4,228) | (4,802) | (4,468) | (3,788) | (2,580) | — | |
| Acquisitions, net | 1,816 | 1,929 | (82) | (498) | (244) | — | |
| Purchases of investments | (703) | (1,055) | (491) | (250) | (194) | — | |
| Sales / maturities of investments | 486 | 832 | 186 | 79 | 109 | +45.3% | |
| Other investing activities | 572 | (3,368) | (3,894) | (4,028) | (2,841) | — | |
| Net cash from investing activities | (2,057) | (6,464) | (8,749) | (8,485) | (5,750) | — | |
| Financing activities | |||||||
| Net debt issuance | (1,642) | 3,008 | 11,524 | 5,765 | 2,450 | — | |
| Short-term net debt issuance | (2,539) | (1,856) | 4,008 | 3,852 | 818 | — | |
| Long-term net debt issuance | 897 | 4,864 | 7,516 | 1,913 | 1,632 | -13.9% | |
| Net stock issuance | (1,138) | (4,007) | (7,216) | (3,534) | (2,390) | — | |
| Common stock issuance | 0 | 0 | 0 | 63 | 148 | — | |
| Common stock repurchased | (1,138) | (4,007) | (7,216) | (3,597) | (2,538) | — | |
| Net common stock issuance | (1,138) | (4,007) | (7,216) | (3,534) | (2,390) | — | |
| Common dividends paid | (1,720) | (1,605) | (1,427) | (1,313) | (1,040) | — | |
| Net dividends paid | (1,720) | (1,605) | (1,427) | (1,313) | (1,040) | — | |
| Other financing activities | (79) | (113) | (73) | (92) | (98) | — | |
| Net cash from financing activities | (4,579) | (2,717) | 2,808 | 826 | (1,078) | — | |
| Cash summary | |||||||
| Effect of forex changes on cash | 77 | (37) | 31 | (224) | 55 | +8.8% | |
| Net change in cash | 900 | 13 | 2,679 | (3,184) | 953 | -1.4% | |
| Cash at beginning of period | 7,633 | 7,620 | 4,941 | 8,125 | 7,172 | +1.6% | |
| Cash at end of period | 8,533 | 7,633 | 7,620 | 4,941 | 8,125 | +1.2% | |
| Free cash flow | 3,231 | 4,429 | 4,121 | 911 | 5,146 | -11.0% | |
| Income taxes paid | 0 | 2,518 | 3,578 | 1,940 | 2,075 | — | |
| Interest paid | 0 | 3,298 | 2,221 | 1,101 | 1,041 | — | |