Deere & Company
Financial Performance
John Deere Revenue & Financials
Revenue
$45.7B (FY2025)
Market Cap
$187.4B
Net Income
$5B
Employees
73,146
What is John Deere's revenue?
John Deere had $45.7B in revenue for fiscal year 2025, down 11.7% from 2024. Net income was $5B.
- Latest revenue
- $45.7B (FY2025)
- Year-over-year
- -11.7%
- Growth rate (CAGR)
- 6.2% over 9 years
- Peak revenue
- $61.3B (FY2023)
- Years of data
- 10
- Employees
- 73,146
Financial Analysis
Deere's results follow the farm cycle. Revenue climbed from $35.5 billion in FY2020 to a record $61.3 billion in FY2023 with $10.17 billion of net income, then fell to $51.7 billion in FY2024 and $45.7 billion in FY2025 as farmers delayed purchases. Even at the FY2025 trough, Deere earned $5.03 billion, helped by pricing, cost control, and the steady income of John Deere Financial. In FY2026 the decline appears to be bottoming: nine-month net sales and revenues rose 7% to $35.589 billion, and guidance points to net income of $4.75-$5.00 billion for the year. Deere & Company (doing business as John Deere) is a colossal global manufacturer of agricultural and heavy machinery, commanding a market valuation typically over $100 billion.
Revenue Trend Analysis
YoY Change
-11.7%
9-Year CAGR
+6.2%
Peak Year
2023
Trend
Mostly Growing
Deere & Company has 10 full fiscal year figures on this page, compounding at +6.2% annually over 9 years. The most recent year saw a 11.7% decline versus the prior year. Annual revenue peaked in fiscal year 2023 at $61.3B. Of 9 comparable year-over-year steps, 6 showed growth and 3 showed a decline.
Annual revenue history
Click any row to see year details.
Deere & Company balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Nov 2, 2025 | $7.5B | $1.4B | $106B | $80B | $25.9B | $6.1B | Form 10-K |
| FY2024ended Oct 27, 2024 | $9.2B | $1.6B | $107.3B | $84.4B | $22.8B | $7.6B | Form 10-K |
| FY2023ended Oct 29, 2023 | $8.6B | $1.5B | $104.1B | $82.2B | $21.8B | $7.1B | Form 10-K |
| FY2022ended Oct 30, 2022 | $4.7B | $1.1B | $90B | $69.7B | $20.3B | $3.6B | Form 10-K |
| FY2021ended Oct 31, 2021 | $7.7B | $848M | $84.1B | $65.7B | $18.4B | $6.9B | Form 10-K |
| FY2020ended Nov 1, 2020 | $7.5B | $820M | $75.1B | $62.1B | $12.9B | $6.7B | Form 10-K |
| FY2019ended Nov 3, 2019 | $3.4B | $1.1B | $73B | $61.6B | $11.4B | $2.3B | Form 10-K |
| FY2018ended Oct 28, 2018 | $1.8B | $896M | $70.1B | $58.8B | $11.3B | $926M | Form 10-K |
| FY2017ended Oct 29, 2017 | $2.2B | $595M | $65.8B | $56.2B | $9.6B | $1.6B | Form 10-K |
| FY2016ended Oct 30, 2016 | $3.8B | $644.4M | $57.9B | $51.4B | $6.5B | $3.1B | Form 10-K |
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John Deere Revenue and Financial FAQ
What is Deere & Company's typical annual revenue baseline?
Deere & Company reported revenue of $45.7 billion for fiscal year 2025, down from $51.7 billion in fiscal 2024.
What are John Deere's net income and operating margin profile?
Net income attributable to Deere peaked at $10.166 billion in FY2023, then fell to $7.1 billion in FY2024 and $5.027 billion in FY2025. For FY2026 Deere guided to $4.75-$5.00 billion after Q3 net income rose 7% to $1.379 billion.
How did Deere perform in the third quarter of fiscal 2026?
In the quarter ended August 2, 2026, net sales and revenues rose 5% to $12.608 billion and equipment operations net sales rose 6% to $10.999 billion. Net income was $1.379 billion, or $5.10 per diluted share, versus $1.289 billion a year earlier. Construction and small ag offset continued weakness in large farm machinery.
How much does John Deere Financial contribute?
Financial services generated $5.748 billion of finance and interest income in FY2025, about 13% of Deere's $45.684 billion of net sales and revenues. The unit funds dealer inventory and customer loans and leases, which supports equipment demand through the cycle.
How do agricultural commodity crop prices (corn, soybeans) impact John Deere's financial cycles?
Farmer net cash farm income, driven by global corn, wheat, and soybean prices, serves as the primary leading indicator for large tractor and combine purchasing, with higher crop prices driving multi-year machinery upgrade super-cycles.
Is John Deere profitable?
Incredibly so. During the 2020s agricultural boom, their net income exploded to historic billions. However, a massive portion of their profit doesn't come from manufacturing; it comes from "John Deere Financial." Because tractors are incredibly expensive, Deere acts as a massive bank, financing the loans for the farmers and generating massive, highly lucrative interest revenue.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "John Deere Revenue & Financials." CorpDigest, https://corpdigest.com/company/john-deere/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>John Deere reported $45.7B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/john-deere/financials" target="_blank" rel="noopener">CorpDigest — John Deere financials</a></div>Related Financial Audits
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