Deere & Company (DE)

NYSE: DE · USD

$641

+1.66 (+0.3%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-21

Our latest published analysis: DE rated Sell

Deere & Company's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$268 / share

Potential value

$330 / share

Upside to FV

-60.9%

from $641

Moat

8/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$184.4B
Revenue (ttm)	47.9B
Net income (ttm)	4.9B
EPS (ttm)	$18.0
Shares out	269.6M
P/E (trailing)	35.6x
P/E (forward)	29.2x
Dividend	$6.48 (1.01%)
Volume	544,845
Beta	0.87

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 47.9B
Net income (ttm): 4.9B
EPS (ttm): $18.0
P/E (trailing): 35.6x
P/E (forward): 29.2x
Market cap: $184.4B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-10-31	2022-10-30	2023-10-29	2024-10-27	2025-11-02	Trend
Revenue	$44.02B	$52.58B	$61.25B	$51.72B	$45.68B	+0.9%
Gross profit	$13.72B	$15.73B	$22.31B	$19.50B	$16.30B	+4.4%
Operating income	$8.01B	$9.51B	$12.96B	$9.04B	$9.43B	+4.1%
Net income	$5.96B	$7.13B	$10.17B	$7.10B	$5.03B	-4.2%
EPS (diluted)	$18.99	$23.28	$34.63	$25.62	$18.50	-0.7%
EBITDA	$10.65B	$12.08B	$17.48B	$14.67B	$11.66B	+2.3%
R&D	$1.59B	$1.91B	$2.18B	$2.29B	$2.31B	+9.9%
SG&A	$3.38B	$3.86B	$4.60B	$4.84B	$4.66B	+8.4%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	持有
ALB	Albemarle Corporation	11.4B	198.9x	1.9x	4.1%	+12.8%	+1.9%	持有
ANET	Arista Networks Inc.	235.7B	59.1x	22.4x	284.8%	+32.0%	+19.7%	卖出
ADP	Automatic Data Processing, Inc.	113B	25.3x	5.1x	62.8%	+7.7%	+4.5%	持有
ALLE	Allegion plc	15.2B	22.5x	3.5x	19.4%	+8.8%	+7.2%	持有
AME	AMETEK Inc.	56.9B	36.3x	7.2x	13.2%	+9.8%	+33.6%	卖出

Base and Bull scenarios

Base50%

Price target

$267.81

-60.9% from spot

The base scenario projects that equipment demand navigates a cyclical trough before stabilizing through replacement demand and precision software adoption entering FY2027. For this trajectory to hold, channel inventories must clear without widespread wholesale discounting, and operating margins must normalize toward mid-cycle levels. This pathway would be disconfirmed if crop commodity prices weaken further, causing commercial producers to extend fleet deferrals. This path yields a target of $267.81 with a probability of 50.0%, representing an expected return of -60.9% relative to $684.73.

Operating margins normalize toward mid-cycle levels following trough inventory absorption.
Replacement demand and precision ag technology attach rates drive moderate volume inflection entering FY2027.
Capital reinvestment remains disciplined at historical maintenance rates.

Bull15%

Price target

$330.41

-51.7% from spot

The bull scenario envisions an accelerated replacement cycle where grower adoption of autonomous machinery and precision telematics drives premium average selling prices and variable cost savings, while Construction & Forestry maintains robust sales momentum. This path requires rapid dealer channel destocking and expanded software attach rates. It would be disconfirmed if elevated interest rates continue to suppress agricultural capital spending into FY2027. Under these conditions, the valuation approaches Potential value of $330.41 with a likelihood of 15.0%, representing a return of -51.7% relative to $684.73.

Accelerated commercial adoption of autonomy and precision ag software drives superior equipment realization.
Construction & Forestry sustains strong sales growth and resilient pricing power.
Diluted share count continues to decline via sustained repurchases.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($267.81). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.0%	1.5%	2.0%	2.5%	3.0%
6.7%	$283	$283	$283	$283	$283
7.7%	$275	$275	$275	$275	$275
8.7%	$268	$268	$268	$268	$268
9.7%	$261	$261	$261	$261	$261
10.7%	$254	$254	$254	$254	$254

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E29.2

P25 n/aP50 n/aP75 n/a

Trailing P/E38

P25 n/aP50 n/aP75 n/a

ROE18.2

P25 n/aP50 n/aP75 n/a

ROIC5.7

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All DE indicators

Market & fundamental data

Available fields

291

Groups with data

Currency

USD

Showing 291 of 291 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000315189
Company name	Deere & Company
Country	United States
Country code	US
CUSIP number	244199105
Earnings date	2026-11-25
Earnings time	bmo
Employees	73,100
Employees change	-2,747
Employees growth	-3.62%
Enterprise value	$230.5B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-08-02
First seen	2026-05-09
Fiscal year end	November
Founded	1837
In index	SP500
Industry	Farm & Heavy Construction Machinery
Is primary listing	Yes
Is SPAC	No
ISIN number	US2441991054
Last 10-K release date	2025-12-18
Last earnings date	2026-08-20
Last refreshed	2026-10-28
Last stock split date	2007-12-04
Last stock split type	Forward
Market cap	$172.9B
Market cap category	Large-Cap
Next earnings date	2026-11-25
Options	Yes
Price	$641.23
Price currency	USD
Sector	Industrials
SIC code	3523
Stock price date	2026-10-28
Symbol	DE
U.S. state	Illinois
Website	https://www.deere.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	35.62x
Average P/E ratio (10Y)	20.06x
Average P/E ratio (3Y)	20.95x
Average P/E ratio (5Y)	19.16x
Earnings yield	2.81%
EV/Earnings	47.33x
EV/EBIT	35.6x
EV/EBITDA	26.82x
EV/FCF	71.43x
EV/Sales	4.81x
FCF / EV yield	1.4%
FCF yield	1.87%
Forward EV/Sales	5.33x
Forward P/E	30.37x
Forward P/S	4x
Graham number	204.97245
Graham upside	-68.05%
Industry forward P/E	23.44x
Industry P/E	30.2x
Lynch fair value	$89.94
Lynch upside	-85.98%
P/(FCF - SBC) ratio	56.42x
P/(OCF - SBC) ratio	24.43x
P/B ratio	6.16x
P/E ratio	35.65x
P/FCF ratio	53.58x
P/OCF ratio	23.88x
P/S ratio	3.61x
PEG ratio	1.81x
Price / tangible book value	7.66x
Price/EBITDA ratio	20.12x
Sector forward P/E	26.03x
Sector P/E	40.37x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	13.52%
EBITDA margin	17.94%
Effective tax rate	24.73%
FCF margin	6.74%
Gross margin	25.18%
Operating margin	13.52%
Pretax margin	13.48%
Profit margin	10.17%
Profit per employee	$66,662
Profitable quarters	34
Profitable years	24
Revenue per employee	$655,636
ROA	3.76%
ROA (5Y)	6.26%
ROCE	9.12%
ROE	18.24%
ROE (5Y)	34.98%
ROIC	5.69%
ROIC (5Y)	10.39%
SBC / revenue	0.34%
Tax / revenue	3.33%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-5.92%
EPS growth (Q)	7.37%
EPS growth (QoQ)	-22.14%
EPS growth 10Y	13.68%
EPS growth 3Y	-18.93%
EPS growth 5Y	0.86%
EPS growth quarters	1
EPS growth years	0
FCF growth	-21.26%
FCF growth (Q)	-29.23%
FCF growth (QoQ)	49.31%
FCF growth 3Y	4.29%
FCF growth 5Y	-9.39%
Gross profit growth	-0.96%
Gross profit growth (Q)	4.29%
Gross profit growth 3Y	-13.42%
Gross profit growth 5Y	0.14%
Net income growth	-6.41%
Net income growth (Q)	6.98%
Net income growth (QoQ)	-22.22%
Net income growth 3Y	-21.42%
Net income growth 5Y	-2.17%
Net income growth quarters	1
Net income growth years	0
OCF growth	-15.32%
OCF growth (Q)	-23.76%
OCF growth (QoQ)	14.29%
OCF growth 10Y	6.47%
OCF growth 3Y	0.31%
OCF growth 5Y	-1.31%
Operating income growth	0.51%
Operating income growth (Q)	-7.06%
Operating income growth 3Y	-22.27%
Operating income growth 5Y	-3.76%
Revenue growth	8.31%
Revenue growth (Q)	4.91%
Revenue growth (QoQ)	-5.69%
Revenue growth 10Y	5.98%
Revenue growth 3Y	-7.91%
Revenue growth 5Y	2.49%
Revenue growth quarters	4
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-4B
Depreciation and amortization	$2.1B
EBIT	$6.5B
EBITDA	$8.6B
EPS	$17.99
FCF per share	$11.98
Financing cash flow	$-4.9B
Free cash flow	$3.2B
Free cash flow minus SBC	$3.1B
Gross profit	$12.1B
Income taxes	$1.6B
Investing cash flow	$-2.1B
Net borrowing	$-2.3B
Net cash flow	$303M
Net income	$4.9B
Operating cash flow minus SBC	$7.1B
Operating income	$6.5B
Revenue	$47.9B
Stock-based compensation	$163M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	3
Book value per share	$103.81
Debt / EBITDA	7.31
Debt / equity	2.3
Debt / FCF	20
Goodwill	$4.5B
Interest coverage	30.42
Long-term assets	$29.7B
Long-term liabilities	$43B
Net cash (debt)	$-57.6B
Net cash / market cap	-33.32%
Net debt / EBITDA	6.7
Net debt / equity	2.06
Net debt / FCF	17.85
Piotroski F-Score	5
Property, plant and equipment	$8B
Shareholders' equity	$28B
Tangible book value	$22.6B
Tangible book value per share	$83.76
Total assets	$107.6B
Total cash	$6.9B
Total debt	$64.6B
Total liabilities	$79.6B
WACC	6.66%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.44
Current assets	$77.9B
Current liabilities	$36.5B
Current ratio	2.13
Inventory turnover	3.97
Net working capital	$35.2B
Quick ratio	1.91
Working capital	$41.3B
Working capital turnover	1.13

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.55%
Dividend growth	0%
Dividend growth (10Y)	10.44%
Dividend growth (3Y)	8.67%
Dividend growth (5Y)	12.41%
Dividend growth years	5
Dividend payment date	2026-11-09
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$6.48
Dividend yield	1.01%
Ex-dividend date	2026-09-30
FCF payout ratio	54.11%
Last dividend	$1.62
Payout ratio	36.03%
Shareholder yield	1.56%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	634.7%
10Y return CAGR	23.95%
10Y total return	755.38%
150-day SMA	$612.44
15Y price change	722.21%
15Y return CAGR	17.26%
15Y total return	989.22%
1D price change	0.26%
1M price change	-7.43%
1M total return	-7.21%
1W price change	1.11%
1W total return	1.11%
1Y price change	33.69%
1Y return CAGR	35.25%
1Y total return	35.22%
20-day SMA	$649.03
200-day SMA	$603.20
20Y price change	1,369.39%
20Y return CAGR	16.56%
20Y total return	2,043.44%
3M price change	2.27%
3M total return	2.51%
3Y price change	76.99%
3Y return CAGR	22.58%
3Y total return	84.23%
50-day SMA	$661.09
50-day SMA vs 200-day SMA	50over200
52-week high	$721.22
52-week high date	2026-09-23
52-week low	$454.50
52-week low date	2025-11-03
5Y price change	88.98%
5Y return CAGR	15.07%
5Y total return	101.7%
6M price change	12.59%
6M total return	13.16%
All-time high	$721.22
All-time high date	2026-09-23
All-time low	$1.16
All-time low date	1970-08-25
Average true range (ATR)	$17.34
Average volume	1M
Beta (1Y)	-0.31
Beta (2Y)	0.52
Beta (5Y)	0.87
Change from 52-week high	-11.09%
Change from 52-week low	41.09%
Change from all-time high	-11.37%
Change from all-time low	54,954.69%
Change from open	-0.33%
Day's gap	0.59%
Dollar volume	$349.4M
High price	$643.33
Low price	$638.52
Monthly RSI	61.43
Open price	$643.33
Position in 52-week range	56.34%
Premarket change	0.31%
Premarket close	$639.58
Premarket price	$641.56
Previous close	$639.58
Price vs 150-day SMA	4.37%
Price vs 20-day SMA	-1.52%
Price vs 200-day SMA	5.97%
Price vs 50-day SMA	-3.31%
Relative volume	0.52
RSI	43.88
Sharpe ratio	0.96
Sharpe ratio (3Y)	0.68
Sharpe ratio (5Y)	0.47
Sortino ratio	1.78
Sortino ratio (3Y)	1.3
Sortino ratio (5Y)	0.9
Volume	544.8K
Weekly RSI	53.28
YTD price change	37.29%
YTD total return	38.38%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	269.1M
Float percentage	99.8%
Shares change (QoQ)	-0.04%
Shares change (YoY)	-0.55%
Shares held by insiders	0.1%
Shares held by institutions	83.53%
Shares outstanding	269.6M
Short % of float	2.14%
Short % of shares	2.13%
Short ratio	4.1 days

Deeper analysis on DE

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this DE report

What is the latest published DE stock rating?

Deere & Company is shown with Sell in the latest published report, analyzed 2026-09-21. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full DE analysis?

The full latest published report, analyzed 2026-09-21, lives at /stocks/DE/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for DE?

The latest published report analyzed 2026-09-21 gives DE a fair value of USD 268 and a potential value of USD 330. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the DE page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-21). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellDE · Fair value $268-60.9%

Read full analysis →

Deere & Company (DE)

Our latest published analysis: DE rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · DE

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All DE indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on DE

Frequently asked questions

评级历史

Category	Score	Reading
Valuation	1.5
Management	8.5
Balance Sheet	5.0
Profitability	6.5
Revenue Growth	4.5
Risk Assessment	4.5
Competitive Moat	8.0
Earnings Quality	8.0
Capital Efficiency	3.5