Deere & Company (DE) Financial Statements

Deere & Company financial statements at a glance

Deere & Company reported revenue of $45.68 billion for fiscal year 2025 (ended November 2, 2025), down 11.6% from fiscal year 2024. Net income was $5.03 billion, a net margin of 11.0%.

At the end of fiscal year 2025 it had total assets of $106.00 billion, total liabilities of $80.05 billion and shareholders' equity of $25.95 billion, with total debt of $63.94 billion.

Its operations brought in $7.46 billion of cash.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended November 2, 2025.

Deere & Company

DEManufacturing and Production

United States

Manufacturing and Production

USD (Local)

Income Statement

Annual • USD • 8 of 8 periods

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Revenue

45.67B

Prev Year: 51.64B

YoY: -11.6%

Total Revenue

Cost of Revenue

28.68B

Prev Year: 31.32B

YoY: -8.4%

Gross Profit

16.99B

Prev Year: 20.32B

YoY: -16.4%

SG&A Expenses

4.48B

Prev Year: 4.70B

YoY: -4.7%

Operating Expense

R&D Expense

2.31B

Prev Year: 2.26B

YoY: +2.4%

Depreciation/Amortization

925.00M

Prev Year: 874.00M

YoY: +5.8%

Net Non Operating Interest Income Expense

Other Operating Expenses, Total

-340.00M

Prev Year: -276.00M

YoY: -23.2%

Other Income Expense

Operating Expenses

36.25B

Prev Year: 39.03B

YoY: -7.1%

Pre-tax Income

Operating Income

9.43B

Prev Year: 12.61B

YoY: -25.2%

Interest Inc.(Exp.),Net-Non-Op., Total

-3.18B

Prev Year: -3.42B

YoY: +7.0%

Equity in Earnings of Affiliates, Net of Tax

Net Income Before Taxes

6.26B

Prev Year: 9.21B

YoY: -32.0%

Net Income Common Stockholders

Provision for Income Taxes

1.26B

Prev Year: 2.09B

YoY: -39.9%

Diluted NI Available to Com Stockholders

Net Income After Taxes

5.00B

Prev Year: 7.11B

YoY: -29.7%

Basic EPS

Net Income Before Extra. Items

5.03B

Prev Year: 7.10B

YoY: -29.2%

Equity In Affiliates

Prev Year: -24.00M

Diluted EPS

Net Income

5.03B

Prev Year: 7.10B

YoY: -29.2%

Weighted Average Shares (basic)

Income Available to Com Excl ExtraOrd

5.03B

Prev Year: 7.10B

YoY: -29.2%

Weighted Average Shares (diluted)

Income Available to Com Incl ExtraOrd

5.03B

Prev Year: 7.10B

YoY: -29.2%

Total Expenses

Diluted Net Income

5.03B

Prev Year: 7.10B

YoY: -29.2%

Net Income from Continuing and Discontinued Operation

Diluted Weighted Average Shares

271.70M

Prev Year: 277.10M

YoY: -1.9%

Normalized Income

Diluted EPS Excluding ExtraOrd Items

18.502

Prev Year: 25.623

YoY: -27.8%

Interest Expense

DPS - Common Stock Primary Issue

6.48

Prev Year: 5.76

YoY: +12.5%

Net Interest Income

Gain (Loss) on Sale of Assets

9.00M

Prev Year: 19.00M

YoY: -52.6%

EBIT

Diluted Normalized EPS

19.028

Prev Year: 26.091

YoY: -27.1%

EBITDA

Unusual Expense (Income)

188.00M

Prev Year: 154.00M

YoY: +22.1%

Reconciled Cost of Revenue

Minority Interest

29.00M

Prev Year: 12.00M

YoY: +141.7%

Reconciled Depreciation

Metric

FY 2025

Nov 25

FY 2024

Oct 24

FY 2023

Oct 23

FY 2022

Oct 22

FY 2021

Oct 21

FY 2020

Oct 20

FY 2019

Oct 19

FY 2018

Oct 18

Revenue

45.67B

-11.6%

YoY Growth

-11.6%

51.64B

-15.6%

YoY Growth

-15.6%

61.22B

+17.3%

YoY Growth

+17.3%

52.18B

YoY Growth

Total Revenue

YoY Growth

43.03B

+23.9%

YoY Growth

+23.9%

34.72B

-9.5%

YoY Growth

-9.5%

38.38B

+5.3%

YoY Growth

+5.3%

36.46B

YoY Growth

Operating Revenue

YoY Growth

43.03B

+23.9%

YoY Growth

+23.9%

34.72B

-9.5%

YoY Growth

-9.5%

38.38B

+5.3%

YoY Growth

+5.3%

36.46B

YoY Growth

Total Unusual Items Excluding Goodwill

YoY Growth

47.00M

+256.7%

YoY Growth

+256.7%

-30.00M

+77.6%

YoY Growth

+77.6%

-134.00M

-1057.1%

YoY Growth

-1057.1%

14.00M

YoY Growth

Total Unusual Items

YoY Growth

47.00M

+256.7%

YoY Growth

+256.7%

-30.00M

+77.6%

YoY Growth

+77.6%

-134.00M

-1057.1%

YoY Growth

-1057.1%

14.00M

YoY Growth

Normalized EBITDA

YoY Growth

10.60B

+45.6%

YoY Growth

+45.6%

7.28B

-5.6%

YoY Growth

-5.6%

7.71B

+7.2%

YoY Growth

+7.2%

7.19B

YoY Growth

Tax Effect of Unusual Items

YoY Growth

10.25M

+222.6%

YoY Growth

+222.6%

-8.36M

+70.1%

YoY Growth

+70.1%

-27.93M

-838.8%

YoY Growth

-838.8%

3.78M

YoY Growth

Cost of Revenue

28.68B

-8.4%

YoY Growth

-8.4%

31.32B

-18.1%

YoY Growth

-18.1%

38.25B

+7.3%

YoY Growth

+7.3%

35.64B

+21.6%

YoY Growth

+21.6%

29.32B

+22.8%

YoY Growth

+22.8%

23.86B

-11.7%

YoY Growth

-11.7%

27.02B

+4.8%

YoY Growth

+4.8%

25.78B

YoY Growth

Gross Profit

16.99B

-16.4%

YoY Growth

-16.4%

20.32B

-11.5%

YoY Growth

-11.5%

22.97B

+38.8%

YoY Growth

+38.8%

16.54B

+20.6%

YoY Growth

+20.6%

13.71B

+26.3%

YoY Growth

+26.3%

10.86B

-4.4%

YoY Growth

-4.4%

11.36B

+6.4%

YoY Growth

+6.4%

10.68B

YoY Growth

SG&A Expenses

4.48B

-4.7%

YoY Growth

-4.7%

4.70B

+2.3%

YoY Growth

+2.3%

4.59B

+19.3%

YoY Growth

+19.3%

3.85B

YoY Growth

Operating Expense

YoY Growth

6.05B

-6.7%

YoY Growth

-6.7%

6.49B

-0.6%

YoY Growth

-0.6%

6.53B

+3.6%

YoY Growth

+3.6%

6.30B

YoY Growth

Selling General and Administrative

YoY Growth

3.20B

-7.1%

YoY Growth

-7.1%

3.45B

-1.1%

YoY Growth

-1.1%

3.48B

+0.4%

YoY Growth

+0.4%

3.47B

YoY Growth

General and Administrative Expense

YoY Growth

3.20B

-7.1%

YoY Growth

-7.1%

3.45B

-1.1%

YoY Growth

-1.1%

3.48B

+0.4%

YoY Growth

+0.4%

3.47B

YoY Growth

Salaries and Wages

YoY Growth

-183.00M

-490.3%

YoY Growth

-490.3%

-31.00M

+53.7%

YoY Growth

+53.7%

-67.00M

-546.7%

YoY Growth

-546.7%

15.00M

YoY Growth

Insurance and Claims

YoY Growth

235.00M

+1.7%

YoY Growth

+1.7%

231.00M

+10.0%

YoY Growth

+10.0%

210.00M

+20.0%

YoY Growth

+20.0%

175.00M

YoY Growth

Other General and Administrative

YoY Growth

3.38B

-2.7%

YoY Growth

-2.7%

3.48B

-2.1%

YoY Growth

-2.1%

3.55B

+2.8%

YoY Growth

+2.8%

3.46B

YoY Growth

Research and Development

YoY Growth

1.59B

-3.5%

YoY Growth

-3.5%

1.64B

-7.8%

YoY Growth

-7.8%

1.78B

+7.5%

YoY Growth

+7.5%

1.66B

YoY Growth

Depreciation Amortization Depletion

YoY Growth

983.00M

-9.2%

YoY Growth

-9.2%

1.08B

+10.4%

YoY Growth

+10.4%

981.00M

+5.7%

YoY Growth

+5.7%

928.00M

YoY Growth

Depreciation and amortization

YoY Growth

983.00M

-9.2%

YoY Growth

-9.2%

1.08B

+10.4%

YoY Growth

+10.4%

981.00M

+5.7%

YoY Growth

+5.7%

928.00M

YoY Growth

Depreciation

YoY Growth

983.00M

-9.2%

YoY Growth

-9.2%

1.08B

+10.4%

YoY Growth

+10.4%

981.00M

+5.7%

YoY Growth

+5.7%

928.00M

YoY Growth

Other Operating Expenses

YoY Growth

282.00M

-10.8%

YoY Growth

-10.8%

316.00M

+14.1%

YoY Growth

+14.1%

277.00M

+13.1%

YoY Growth

+13.1%

245.00M

YoY Growth

R&D Expense

2.31B

+2.4%

YoY Growth

+2.4%

2.26B

+3.7%

YoY Growth

+3.7%

2.18B

+13.9%

YoY Growth

+13.9%

1.91B

YoY Growth

Depreciation/Amortization

925.00M

+5.8%

YoY Growth

+5.8%

874.00M

+2.5%

YoY Growth

+2.5%

853.00M

+3.1%

YoY Growth

+3.1%

827.00M

YoY Growth

Net Non Operating Interest Income Expense

YoY Growth

-993.00M

+20.4%

YoY Growth

+20.4%

-1.25B

+14.9%

YoY Growth

+14.9%

-1.47B

-21.8%

YoY Growth

-21.8%

-1.20B

YoY Growth

Non-operating Interest Expense

YoY Growth

993.00M

-20.4%

YoY Growth

-20.4%

1.25B

-14.9%

YoY Growth

-14.9%

1.47B

+21.8%

YoY Growth

+21.8%

1.20B

YoY Growth

Other Operating Expenses, Total

-340.00M

-23.2%

YoY Growth

-23.2%

-276.00M

-16.5%

YoY Growth

-16.5%

-237.00M

-43.6%

YoY Growth

-43.6%

-165.00M

YoY Growth

Other Income Expense

YoY Growth

932.00M

+22.3%

YoY Growth

+22.3%

762.00M

+5.8%

YoY Growth

+5.8%

720.00M

-20.0%

YoY Growth

-20.0%

900.00M

YoY Growth

Gain on Sale of Securities

YoY Growth

-18.00M

-181.8%

YoY Growth

-181.8%

22.00M

-12.0%

YoY Growth

-12.0%

25.00M

+78.6%

YoY Growth

+78.6%

14.00M

YoY Growth

Special Income Charges

YoY Growth

65.00M

+225.0%

YoY Growth

+225.0%

-52.00M

+67.3%

YoY Growth

+67.3%

-159.00M

YoY Growth

Other Special Charges

YoY Growth

-65.00M

+70.9%

YoY Growth

+70.9%

-223.00M

-4.2%

YoY Growth

-4.2%

-214.00M

+1.4%

YoY Growth

+1.4%

-217.00M

YoY Growth

Impairment of Capital Assets

YoY Growth

52.00M

-67.3%

YoY Growth

-67.3%

159.00M

YoY Growth

Gain on Sale of Property, Plant and Equipment

YoY Growth

65.00M

YoY Growth

Gain on Sale of Business

YoY Growth

Other Non-operating Income (expense)

YoY Growth

885.00M

+11.7%

YoY Growth

+11.7%

792.00M

-7.3%

YoY Growth

-7.3%

854.00M

-3.6%

YoY Growth

-3.6%

886.00M

YoY Growth

Operating Expenses

36.25B

-7.1%

YoY Growth

-7.1%

39.03B

-14.5%

YoY Growth

-14.5%

45.66B

+8.0%

YoY Growth

+8.0%

42.26B

YoY Growth

Pre-tax Income

YoY Growth

7.60B

+95.8%

YoY Growth

+95.8%

3.88B

-5.0%

YoY Growth

-5.0%

4.09B

+0.4%

YoY Growth

+0.4%

4.07B

YoY Growth

Operating Income

9.43B

-25.2%

YoY Growth

-25.2%

12.61B

-19.0%

YoY Growth

-19.0%

15.56B

+56.8%

YoY Growth

+56.8%

9.92B

+29.5%

YoY Growth

+29.5%

7.66B

+75.4%

YoY Growth

+75.4%

4.37B

-9.6%

YoY Growth

-9.6%

4.83B

+10.5%

YoY Growth

+10.5%

4.38B

YoY Growth

Interest Inc.(Exp.),Net-Non-Op., Total

-3.18B

+7.0%

YoY Growth

+7.0%

-3.42B

-32.8%

YoY Growth

-32.8%

-2.58B

-196.7%

YoY Growth

-196.7%

-868.00M

YoY Growth

Equity in Earnings of Affiliates, Net of Tax

YoY Growth

21.00M

+143.8%

YoY Growth

+143.8%

-48.00M

-328.6%

YoY Growth

-328.6%

21.00M

-22.2%

YoY Growth

-22.2%

27.00M

YoY Growth

Net Income Before Taxes

6.26B

-32.0%

YoY Growth

-32.0%

9.21B

-29.3%

YoY Growth

-29.3%

13.02B

+42.6%

YoY Growth

+42.6%

9.13B

YoY Growth

Net Income Common Stockholders

YoY Growth

5.96B

+116.8%

YoY Growth

+116.8%

2.75B

-15.4%

YoY Growth

-15.4%

3.25B

+37.4%

YoY Growth

+37.4%

2.37B

YoY Growth

Net Income Including Non-Controlling Interests

YoY Growth

5.96B

+116.7%

YoY Growth

+116.7%

2.75B

-15.5%

YoY Growth

-15.5%

3.26B

+37.4%

YoY Growth

+37.4%

2.37B

YoY Growth

Net Income from Continuing Operations

YoY Growth

5.96B

+116.7%

YoY Growth

+116.7%

2.75B

-15.5%

YoY Growth

-15.5%

3.26B

+37.4%

YoY Growth

+37.4%

2.37B

YoY Growth

Noncontrolling Interests

YoY Growth

-2.00M

0.0%

YoY Growth

0.0%

-2.00M

+50.0%

YoY Growth

+50.0%

-4.00M

-33.3%

YoY Growth

-33.3%

-3.00M

YoY Growth

Otherunder Preferred Stock Dividend

YoY Growth

400.0K

YoY Growth

Provision for Income Taxes

1.26B

-39.9%

YoY Growth

-39.9%

2.09B

-27.1%

YoY Growth

-27.1%

2.87B

+43.0%

YoY Growth

+43.0%

2.01B

+21.0%

YoY Growth

+21.0%

1.66B

+53.2%

YoY Growth

+53.2%

1.08B

+27.0%

YoY Growth

+27.0%

852.00M

-50.7%

YoY Growth

-50.7%

1.73B

YoY Growth

Diluted NI Available to Com Stockholders

YoY Growth

5.96B

+116.8%

YoY Growth

+116.8%

2.75B

-15.4%

YoY Growth

-15.4%

3.25B

+37.4%

YoY Growth

+37.4%

2.37B

YoY Growth

Net Income After Taxes

5.00B

-29.7%

YoY Growth

-29.7%

7.11B

-29.9%

YoY Growth

-29.9%

10.15B

+42.5%

YoY Growth

+42.5%

7.12B

YoY Growth

Basic EPS

YoY Growth

19.021

+117.6%

YoY Growth

+117.6%

8.74

-15.0%

YoY Growth

-15.0%

10.282

+37.9%

YoY Growth

+37.9%

7.454

YoY Growth

Net Income Before Extra. Items

5.03B

-29.2%

YoY Growth

-29.2%

7.10B

-30.2%

YoY Growth

-30.2%

10.17B

+42.6%

YoY Growth

+42.6%

7.13B

YoY Growth

Equity In Affiliates

YoY Growth

-24.00M

-442.9%

YoY Growth

-442.9%

7.00M

-30.0%

YoY Growth

-30.0%

10.00M

YoY Growth

Diluted EPS

YoY Growth

18.99

+118.5%

YoY Growth

+118.5%

8.69

-14.4%

YoY Growth

-14.4%

10.15

+40.2%

YoY Growth

+40.2%

7.24

YoY Growth

Net Income

5.03B

-29.2%

YoY Growth

-29.2%

7.10B

-30.2%

YoY Growth

-30.2%

10.17B

+42.6%

YoY Growth

+42.6%

7.13B

+19.6%

YoY Growth

+19.6%

5.96B

+116.8%

YoY Growth

+116.8%

2.75B

-15.4%

YoY Growth

-15.4%

3.25B

+37.4%

YoY Growth

+37.4%

2.37B

YoY Growth

Weighted Average Shares (basic)

YoY Growth

311.60M

-0.6%

YoY Growth

-0.6%

313.50M

-0.9%

YoY Growth

-0.9%

316.50M

-1.9%

YoY Growth

-1.9%

322.60M

YoY Growth

Income Available to Com Excl ExtraOrd

5.03B

-29.2%

YoY Growth

-29.2%

7.10B

-30.2%

YoY Growth

-30.2%

10.17B

+42.6%

YoY Growth

+42.6%

7.13B

YoY Growth

Weighted Average Shares (diluted)

YoY Growth

314.00M

-0.8%

YoY Growth

-0.8%

316.60M

-1.2%

YoY Growth

-1.2%

320.60M

-2.0%

YoY Growth

-2.0%

327.30M

YoY Growth

Income Available to Com Incl ExtraOrd

5.03B

-29.2%

YoY Growth

-29.2%

7.10B

-30.2%

YoY Growth

-30.2%

10.17B

+42.6%

YoY Growth

+42.6%

7.13B

YoY Growth

Total Expenses

YoY Growth

35.37B

+16.5%

YoY Growth

+16.5%

30.35B

-9.5%

YoY Growth

-9.5%

33.55B

+4.6%

YoY Growth

+4.6%

32.08B

YoY Growth

Diluted Net Income

5.03B

-29.2%

YoY Growth

-29.2%

7.10B

-30.2%

YoY Growth

-30.2%

10.17B

+42.6%

YoY Growth

+42.6%

7.13B

YoY Growth

Net Income from Continuing and Discontinued Operation

YoY Growth

5.96B

+116.8%

YoY Growth

+116.8%

2.75B

-15.4%

YoY Growth

-15.4%

3.25B

+37.4%

YoY Growth

+37.4%

2.37B

YoY Growth

Diluted Weighted Average Shares

271.70M

-1.9%

YoY Growth

-1.9%

277.10M

-5.6%

YoY Growth

-5.6%

293.60M

-4.1%

YoY Growth

-4.1%

306.30M

YoY Growth

Normalized Income

YoY Growth

5.93B

+113.7%

YoY Growth

+113.7%

2.77B

-17.5%

YoY Growth

-17.5%

3.36B

+42.5%

YoY Growth

+42.5%

2.36B

YoY Growth

Diluted EPS Excluding ExtraOrd Items

18.502

-27.8%

YoY Growth

-27.8%

25.623

-26.0%

YoY Growth

-26.0%

34.625

+48.7%

YoY Growth

+48.7%

23.281

YoY Growth

Interest Expense

YoY Growth

993.00M

-20.4%

YoY Growth

-20.4%

1.25B

-14.9%

YoY Growth

-14.9%

1.47B

+21.8%

YoY Growth

+21.8%

1.20B

YoY Growth

DPS - Common Stock Primary Issue

6.48

+12.5%

YoY Growth

+12.5%

5.76

+19.3%

YoY Growth

+19.3%

4.83

+12.9%

YoY Growth

+12.9%

4.28

YoY Growth

Net Interest Income

YoY Growth

-993.00M

+20.4%

YoY Growth

+20.4%

-1.25B

+14.9%

YoY Growth

+14.9%

-1.47B

-21.8%

YoY Growth

-21.8%

-1.20B

YoY Growth

Gain (Loss) on Sale of Assets

9.00M

-52.6%

YoY Growth

-52.6%

19.00M

-42.4%

YoY Growth

-42.4%

33.00M

-54.2%

YoY Growth

-54.2%

72.00M

YoY Growth

EBIT

YoY Growth

8.60B

+67.5%

YoY Growth

+67.5%

5.13B

-7.6%

YoY Growth

-7.6%

5.55B

+5.3%

YoY Growth

+5.3%

5.28B

YoY Growth

Diluted Normalized EPS

19.028

-27.1%

YoY Growth

-27.1%

26.091

-24.6%

YoY Growth

-24.6%

34.586

+46.6%

YoY Growth

+46.6%

23.587

YoY Growth

EBITDA

YoY Growth

10.64B

+46.9%

YoY Growth

+46.9%

7.25B

-4.3%

YoY Growth

-4.3%

7.57B

+5.2%

YoY Growth

+5.2%

7.20B

YoY Growth

Unusual Expense (Income)

188.00M

+22.1%

YoY Growth

+22.1%

154.00M

+755.6%

YoY Growth

+755.6%

18.00M

-90.6%

YoY Growth

-90.6%

192.00M

YoY Growth

Reconciled Cost of Revenue

YoY Growth

28.25B

+23.7%

YoY Growth

+23.7%

22.83B

-12.1%

YoY Growth

-12.1%

25.98B

+4.8%

YoY Growth

+4.8%

24.78B

YoY Growth

Minority Interest

29.00M

+141.7%

YoY Growth

+141.7%

12.00M

+9.1%

YoY Growth

+9.1%

11.00M

+1000.0%

YoY Growth

+1000.0%

1.00M

YoY Growth

Reconciled Depreciation

YoY Growth

2.05B

-3.2%

YoY Growth

-3.2%

2.12B

+4.9%

YoY Growth

+4.9%

2.02B

+4.8%

YoY Growth

+4.8%

1.93B

YoY Growth

Net Income from Continuing Operation Net Minority Interest

YoY Growth

5.96B

+116.8%

YoY Growth

+116.8%

2.75B

-15.4%

YoY Growth

-15.4%

3.25B

+37.4%

YoY Growth

+37.4%

2.37B

YoY Growth

Values in USDShowing 8 of 8 periods

Deere & Company key figures by fiscal year

	FY2025	FY2024	FY2023	FY2022	FY2021
Revenue	$45.7B	$51.6B	$61.2B	$52.2B	$43.0B
Gross profit	$17.0B	$20.3B	$23.0B	$16.5B	$13.7B
Operating income	$9.4B	$12.6B	$15.6B	$9.9B	$7.7B
Net income	$5.0B	$7.1B	$10.2B	$7.1B	$6.0B
Diluted EPS	–	–	–	–	$18.99
Total assets	$106.0B	$107.3B	$104.1B	$90.0B	$84.1B
Total liabilities	$80.0B	$84.5B	$82.3B	$69.8B	$65.7B
Shareholders' equity	$26.0B	$22.8B	$21.8B	$20.3B	$18.4B
Cash	–	–	–	–	$8.0B
Total debt	$63.9B	$65.2B	$63.4B	$51.9B	$48.7B
Operating cash flow	$7.5B	$9.2B	$8.6B	$4.7B	$7.7B
Capital spending	–	–	–	–	$2.6B
Free cash flow	–	–	–	–	$5.1B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2018.

Questions and answers

What was Deere & Company's revenue in fiscal year 2025?

$45.68 billion, down 11.6% from $51.64 billion in fiscal year 2024.

How much profit does Deere & Company make?

Deere & Company reported net income of $5.03 billion for fiscal year 2025 (11.0% of revenue); operating income was $9.43 billion.

How much cash and debt does Deere & Company have?

At the end of fiscal year 2025: total debt of $63.94 billion.

MoreDeere & Company stock overview Deere & Company executive team Deere & Company shareholders Deere & Company revenue by segment

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.