Deere & Co
deere.comWhat Do They Do?
Sells agricultural, construction and forestry, and turf equipment to crop growers, livestock producers, and turf and utility customers.
10-K for FY2025, filed Dec 18, 2025John Deere has manufactured agricultural equipment since 1837. Deere & Company was incorporated under the laws of Delaware in 1958. Our…View ↗
Production & Precision Agriculture – PPA segment defines, develops, and delivers global equipment and technology solutions to unlock…View ↗
Small Agriculture & Turf – SAT segment defines, develops, and delivers global equipment and technology solutions to unlock customer value…View ↗
How Do They Make Money?
Dealers buy equipment and parts, with sales tied to shipment. Deere also earns interest over financing periods and lease income over lease terms, while some technology and warranty services are paid for in advance or over time.
10-K for FY2025, filed Dec 18, 2025Sales of equipment and service parts are recognized when we transfer control of the good to the independent customer, which generally…View ↗
Certain equipment is sold with precision guidance, telematics, and other information gathering and analyzing capabilities. These technology…View ↗
Financing revenue and deferred costs on the origination of financing receivables are recorded over the lives of the related receivables…View ↗
The “Financial products” category above includes finance and interest income from retail notes related to sales of John Deere equipment to…View ↗
We invoice in advance of recognizing the revenue of certain products and services. These relate to extended warranty premiums, advance…View ↗
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10-K for FY2025, filed Dec 18, 2025
FY2025 revenue by product or service ↗
$45.7B
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10-K for FY2025, filed Dec 18, 2025
$45.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Net Sales
Sold outright
10-K for FY2025, filed Dec 18, 2025 |
85%
FY2022: 91%
|
Net Sales, FY2025
$38.9B Sources
|
Sold outright |
|
Finance and Interest Income
Recurring
10-K for FY2025, filed Dec 18, 2025 |
12%
FY2022: 6.4%
|
Finance and Interest Income, FY2025
$5.5B Sources
|
Recurring |
|
Other Income
|
2.2%
FY2022: 2.5%
|
Other Income, FY2025
$1B Sources
|
Who Are Their Customers?
Growers, dairy and livestock producers, and turf customers buy agricultural and turf equipment; sales generally run through independent dealers, while some roadbuilding equipment is sold directly to retail customers or through distributors and dealers.
10-K for FY2025, filed Dec 18, 2025Production & Precision Agriculture – PPA segment defines, develops, and delivers global equipment and technology solutions to unlock…View ↗
Small Agriculture & Turf – SAT segment defines, develops, and delivers global equipment and technology solutions to unlock customer value…View ↗
Through the U.S. and Canada, we market products to approximately 2,050 independent dealer locations. Of these, approximately 1,600 sell…View ↗
Outside the U.S. and Canada, our agriculture and turf equipment is sold to distributors and dealers for resale in over 100 countries. Sales…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 11 cents of every revenue dollar as net income in FY2025 and turned 13 cents into free cash flow.
How Are They Changing?
10-Q for Q3 FY2026, filed Aug 27, 2026
Open tableView ↗
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Aug 20, 2026
Raises fiscal 2026 net income forecast
The company said net income guidance improved to $4.75 billion to $5.00 billion.
Sources
8-K, filed Aug 20, 2026
Net income attributable to Deere & Company for fiscal 2026 is forecasted to be in a range of $4.75 billion to $5.00 billion.View ↗
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May 1, 2026
Appoints Brent Norwood as chief financial officer
Norwood's appointment as senior vice president and chief financial officer took effect May 1, 2026.
Sources
8-K, filed May 1, 2026
On April 28, 2026, the board of directors of Deere & Company (the “Company”) elected T. Brent Norwood, 44, as its Senior Vice President and…View ↗
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Feb 19, 2026
Raises fiscal 2026 net income forecast
The forecast range was increased to $4.5 billion to $5.0 billion.
Sources
8-K, filed Feb 19, 2026
Net income attributable to Deere & Company for fiscal 2026 is forecasted to be in a range of $4.5 billion to $5.0 billion.View ↗
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Jan 22, 2026
CFO resigns; Ryan Campbell named acting CFO
Joshua Jepsen planned to leave the CFO role, and Campbell was appointed acting CFO until a permanent replacement was named.
Sources
8-K, filed Jan 22, 2026
On January 20, 2026, Joshua A. Jepsen notified Deere & Company (the “Company”), of his decision to resign as Senior Vice President and…View ↗
Flat. Revenue was $45.7B in FY2025, about the same as the $44B of FY2021.
Who Do They Compete With?
Competes with AGCO, CLAAS, CNH Industrial, Kubota Tractor, The Toro, Caterpillar, Doosan Infracore, Doosan Bobcat, Fayat Group, GOMACO, Hitachi Construction Machinery, Komatsu, LGMG, Liugong, Ponsse, SANY Group, SDLG, Terex, Tigercat Industries, and Volvo Group
10-K for FY2025, filed Dec 18, 2025The agricultural equipment industry continues to change and is becoming even more competitive through the emergence and global expansion of…View ↗
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