DE
Deere & Co
DE—
Deere & Co AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin TTM 20% vs industry median 6.7% - 3x advantage from pricing power and precision ag tech moat[Operating Margin TTM]
- Debt/equity 2.66x with 66.9B total debt - captive financing arm inflates leverage but generates interest spread income[Debt to Equity]
- R&D 2.3B TTM (5.2% of revenue) funds autonomous/AI farming tech - 4x industry median R&D spend[Research and Development TTM]
Watch Triggers
- Operating Margin TTM: Falls below 15% — Signals pricing power erosion or ag cycle downturn - margin compression precedes earnings cuts
- Free Cash Flow TTM: Drops below 3B — Would pressure dividend coverage and R&D investment capacity
- Interest Expense TTM: Rises above 4B — Financing arm profitability squeeze if funding costs rise faster than loan yields
Bull Case
Dominant ag equipment franchise with 20% operating margins and 22% ROE TTM - captive financing creates customer stickiness while generating spread income on 67B loan book
Operating Margin TTMROE TTMTotal Debt
FCF of 4.1B TTM funds 6.33 dividend (2.6% yield) and buybacks while investing 2.3B in autonomous/precision ag tech
Free Cash Flow TTMDividends Paid Per Share TTMResearch and Development TTM
Bear Case
Farm income cyclicality risk - ag commodity prices declining could compress equipment demand and financing quality on 67B loan book
Total DebtInterest Expense TTMTotal Revenue TTM
P/E 24.6x at industry median despite cyclical peak margins - limited upside if ag cycle turns down
PE RatioOperating Margin TTMNet Margin TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
Precision ag adoption accelerates FCF margins to 12-15% as software attach rates rise
1-3ymed
- See & Spray, autonomous tractors drive recurring revenue
- Dealer network lock-in creates switching costs
- Farm labor shortage forces automation adoption
FCF margin 9.4% TTM (4.1B) with room to expandR&D 2.3B sustains tech leadershipOperating margin 3x peers indicates pricing power
Valuation Context
Caveats
Public Strategies Rankings
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DE Fundamentals
Manufacturing → Machinery Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$144.29B | — | ||
$200.27B | — | ||
29 | — | ||
$44.66B | -11.6% | — | |
$18.33 | — | ||
18.8% | -3.8% | — | |
11.3% | -2.8% | — | |
$3.23B | -27.0% | — | |
0.21 | -11.2% | — | |
Beta 5Y (Monthly) | unknown | — |
DE Dividend History
104 dividends
2025
$6.480012/31/25$1.6200
09/30/25$1.6200
06/30/25$1.6200
03/31/25$1.6200
2024
$6.030012/31/24$1.6200
09/30/24$1.4700
06/28/24$1.4700
03/27/24$1.4700
2023
$5.320012/28/23$1.4700
09/28/23$1.3500
06/29/23$1.2500
03/30/23$1.2500
2022
$4.510012/29/22$1.2000
09/29/22$1.1300
06/29/22$1.1300
03/30/22$1.0500
2021
$3.900012/30/21$1.0500
09/29/21$1.0500
06/29/21$0.9000
03/30/21$0.9000
2020
$3.040012/30/20$0.7600
09/29/20$0.7600
06/29/20$0.7600
03/30/20$0.7600
2019
$3.040012/30/19$0.7600
09/27/19$0.7600
06/27/19$0.7600
03/28/19$0.7600
2018
$2.740012/28/18$0.7600
09/27/18$0.6900
06/28/18$0.6900
03/28/18$0.6000
2017
$2.400012/28/17$0.6000
09/28/17$0.6000
06/28/17$0.6000
03/29/17$0.6000
2016
$2.400012/28/16$0.6000
09/28/16$0.6000
06/28/16$0.6000
03/29/16$0.6000
2015
$2.400012/29/15$0.6000
09/28/15$0.6000
06/26/15$0.6000
03/27/15$0.6000
2014
$2.310012/29/14$0.6000
09/26/14$0.6000
06/26/14$0.6000
03/27/14$0.5100
2013
$2.040012/27/13$0.5100
09/26/13$0.5100
06/26/13$0.5100
03/26/13$0.5100
2012
$1.840012/27/12$0.4600
09/26/12$0.4600
06/27/12$0.4600
03/28/12$0.4600
2011
$1.580012/28/11$0.4100
09/28/11$0.4100
06/28/11$0.4100
03/29/11$0.3500
2010
$1.230012/29/10$0.3500
09/28/10$0.3000
06/28/10$0.3000
03/29/10$0.2800
2009
$1.120012/29/09$0.2800
09/28/09$0.2800
06/26/09$0.2800
03/27/09$0.2800
2008
$1.090012/29/08$0.2800
09/26/08$0.2800
06/26/08$0.2800
03/27/08$0.2500
2007
$0.940012/27/07$0.2500
09/26/07$0.2500
06/27/07$0.2200
03/28/07$0.2200
2006
$0.805012/27/06$0.2200
09/27/06$0.1950
06/28/06$0.1950
03/29/06$0.1950
2005
$0.660012/28/05$0.1950
09/28/05$0.1550
06/28/05$0.1550
03/29/05$0.1550
2004
$0.560012/29/04$0.1400
09/28/04$0.1400
06/28/04$0.1400
03/29/04$0.1400
2003
$0.440012/29/03$0.1100
09/26/03$0.1100
06/26/03$0.1100
03/27/03$0.1100
2002
$0.440012/27/02$0.1100
09/26/02$0.1100
06/26/02$0.1100
03/26/02$0.1100
2001
$0.440012/27/01$0.1100
09/26/01$0.1100
06/27/01$0.1100
03/28/01$0.1100
2000
$0.440012/27/00$0.1100
09/27/00$0.1100
06/28/00$0.1100
03/29/00$0.1100
DE Stock Splits
1 stock split
12/04/070.5:1 split
DE SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
12/18/25 | 11/02/25 | 10-K | |
08/28/25 | 07/27/25 | 10-Q | |
05/29/25 | 04/27/25 | 10-Q | |
02/27/25 | 01/26/25 | 10-Q | |
12/12/24 | 10/27/24 | 10-K | |
08/29/24 | 07/28/24 | 10-Q | |
05/30/24 | 04/28/24 | 10-Q | |
02/29/24 | 01/28/24 | 10-Q | |
12/15/23 | 10/29/23 | 10-K | |
08/31/23 | 07/30/23 | 10-Q | |
06/01/23 | 04/30/23 | 10-Q | |
02/23/23 | 01/29/23 | 10-Q | |
12/15/22 | 10/30/22 | 10-K | |
09/01/22 | 07/31/22 | 10-Q | |
05/26/22 | 05/01/22 | 10-Q | |
02/24/22 | 01/30/22 | 10-Q | |
12/16/21 | 10/31/21 | 10-K | |
08/26/21 | 08/01/21 | 10-Q | |
05/27/21 | 05/02/21 | 10-Q | |
02/25/21 | 01/31/21 | 10-Q | |
12/17/20 | 11/01/20 | 10-K | |
08/27/20 | 08/02/20 | 10-Q | |
05/28/20 | 05/03/20 | 10-Q | |
02/27/20 | 02/02/20 | 10-Q | |
12/19/19 | 11/03/19 | 10-K | |
08/29/19 | 07/28/19 | 10-Q | |
05/30/19 | 04/28/19 | 10-Q | |
02/28/19 | 01/27/19 | 10-Q | |
12/17/18 | 10/28/18 | 10-K | |
08/30/18 | 07/29/18 | 10-Q | |
05/31/18 | 04/29/18 | 10-Q | |
03/01/18 | 01/28/18 | 10-Q | |
12/18/17 | 10/29/17 | 10-K | |
08/31/17 | 07/30/17 | 10-Q | |
06/02/17 | 04/30/17 | 10-Q | |
02/24/17 | 01/29/17 | 10-Q | |
12/19/16 | 10/31/16 | 10-K | |
09/01/16 | 07/31/16 | 10-Q | |
05/26/16 | 04/30/16 | 10-Q | |
02/25/16 | 01/31/16 | 10-Q | |
12/18/15 | 10/31/15 | 10-K | |
08/27/15 | 07/31/15 | 10-Q | |
05/28/15 | 04/30/15 | 10-Q | |
02/26/15 | 01/31/15 | 10-Q | |
12/19/14 | 10/31/14 | 10-K | |
08/28/14 | 07/31/14 | 10-Q | |
05/29/14 | 04/30/14 | 10-Q | |
02/27/14 | 01/31/14 | 10-Q | |
12/16/13 | 10/31/13 | 10-K | |
02/01/16 | 10/31/13 | 10-K/A | |
08/29/13 | 07/31/13 | 10-Q | |
05/30/13 | 04/30/13 | 10-Q | |
02/28/13 | 01/31/13 | 10-Q | |
12/17/12 | 10/31/12 | 10-K | |
08/30/12 | 07/31/12 | 10-Q | |
05/31/12 | 04/30/12 | 10-Q | |
03/01/12 | 01/31/12 | 10-Q | |
12/19/11 | 10/31/11 | 10-K | |
09/01/11 | 07/31/11 | 10-Q | |
05/27/11 | 04/30/11 | 10-Q | |
02/25/11 | 01/31/11 | 10-Q | |
12/17/10 | 10/31/10 | 10-K | |
08/27/10 | 07/31/10 | 10-Q | |
05/28/10 | 04/30/10 | 10-Q | |
03/01/10 | 01/31/10 | 10-Q | |
12/17/09 | 10/31/09 | 10-K | |
08/28/09 | 07/31/09 | 10-Q | |
06/01/09 | 04/30/09 | 10-Q | |
02/26/09 | 01/31/09 | 10-Q | |
12/18/08 | 10/31/08 | 10-K | |
09/02/08 | 07/31/08 | 10-Q | |
05/29/08 | 04/30/08 | 10-Q | |
02/28/08 | 01/29/08 | Unknown | -- |
12/20/07 | 10/30/07 | Unknown | -- |
08/31/07 | 07/31/07 | 10-Q | |
06/01/07 | 04/30/07 | 10-Q | |
03/01/07 | 01/28/07 | Unknown | -- |
12/19/06 | 10/30/06 | Unknown | -- |
08/31/06 | 07/31/06 | 10-Q | |
06/01/06 | 04/30/06 | 10-Q | |
02/24/06 | 01/28/06 | Unknown | -- |
12/20/05 | 10/30/05 | Unknown | -- |
09/01/05 | 07/31/05 | 10-Q | |
05/27/05 | 04/30/05 | 10-Q | |
03/14/05 | 01/28/05 | Unknown | -- |
12/21/04 | 10/30/04 | Unknown | -- |
08/27/04 | 07/31/04 | 10-Q | |
05/28/04 | 04/30/04 | 10-Q | |
02/27/04 | 01/29/04 | Unknown | -- |
12/22/03 | 10/30/03 | Unknown | -- |
08/29/03 | 07/31/03 | 8-K | |
05/29/03 | 04/30/03 | 8-K | |
03/04/03 | 01/28/03 | Unknown | -- |
12/20/02 | 10/30/02 | Unknown | -- |
07/31/02 | 07/31/02 | 8-K | |
06/06/02 | 04/30/02 | 10-Q | |
03/12/02 | 01/28/02 | Unknown | -- |
12/21/01 | 10/30/01 | Unknown | -- |
09/13/01 | 07/31/01 | 10-Q | |
06/07/01 | 04/30/01 | 10-Q | |
03/05/01 | 01/28/01 | Unknown | -- |
01/16/01 | 10/30/00 | Unknown | -- |
09/05/00 | 07/31/00 | 10-Q | |
06/08/00 | 04/30/00 | 10-Q | |
03/13/00 | 01/29/00 | Unknown | -- |