DEERE & CO

Listed Company

DECIK 0000315189NYSELarge AcceleratedFarm Machinery & EquipmentDelawareFY ends Nov 1

Period

FY 2025

Revenue

$45.68B

Net Income

$5.03B

Total Assets

$106.00B

Equity

$25.95B

Shares Out

270.11M

Op. Cash Flow

$7.46B

+ 13F Filer

Business

DEERE & CO manufactures and sells agricultural, construction, forestry, and turf equipment and provides financing and aftermarket services supporting those products. Its offerings include large and small tractors, combines and harvesters, cotton and sugarcane harvesters, tillage and seeding equipment, mowers and turf products, excavators, loaders, roadbuilding and Wirtgen road construction machines, forestry systems, precision technologies, telematics, parts, and retail financing and leasing. The company operates through four business segments: Production & Precision Agriculture, Small Agriculture & Turf, Construction & Forestry, and Financial Services. It distributes products globally through independent dealers, company‑owned sales and service subsidiaries, and select mass retailers across major geographic regions.

Summary from filing dated 2025-12-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Net sales and revenues	45,684	51,716	61,251	52,577	44,024
Research and development expenses	2,311	2,290	2,177	1,912	1,587
Selling, administrative and general expenses	4,663	4,840	4,595	3,863	3,383
Interest expense	3,170	3,348	2,453	1,062	993
Other operating expenses	1,124	1,257	1,292	1,275	1,343
Total	39,427	42,510	48,232	43,450	36,422
Income of Consolidated Group before Income Taxes	6,257	9,206	13,019	9,127	7,602
Provision for income taxes	1,259	2,094	2,871	2,007	1,658
Income of Consolidated Group	4,998	7,112	10,148	7,120	5,944
Equity in income (loss) of unconsolidated affiliates	—	−24	7	10	21
Net Income	4,998	7,088	10,155	7,130	5,965
Less: Net loss attributable to noncontrolling interests	−29	−12	−11	−1	2
Net Income Attributable to Deere & Company	5,027	7,100	10,166	7,131	5,963
Basic (in dollars per share)	18.55	25.73	34.8	23.42	19.14
Diluted (in dollars per share)	18.5	25.62	34.63	23.28	18.99
Dividends declared (in dollars per share)	6.48	5.88	5.05	4.36	3.61
Dividends paid (in dollars per share)	6.33	5.76	4.83	4.28	3.32
Basic (in shares)	271	276	292	305	312
Diluted (in shares)	272	277	294	306	314

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Cash and cash equivalents	8,276	7,324	7,458	4,774	8,017
Marketable securities	1,411	1,154	946	734	728
Trade accounts and notes receivable - net	5,317	5,326	7,739	6,410	4,208
Other receivables	2,403	2,545	2,623	2,492	1,765
Equipment on operating leases - net	7,600	7,451	6,917	6,623	6,988
Inventories	7,406	7,093	8,160	8,495	6,781
Property and equipment - net	8,079	7,580	6,879	6,056	5,820
Goodwill	4,188	3,959	3,900	3,687	3,291
Other intangible assets - net	892	999	1,133	1,218	1,275
Retirement benefits	3,273	2,921	3,007	3,730	3,601
Deferred income taxes	2,284	2,086	1,814	824	1,037
Other assets	3,461	2,906	2,503	2,417	2,145
Assets held for sale	—	2,944	—	—	—
Total Assets	105,996	107,320	104,087	90,030	84,114
Short-term borrowings	13,796	13,533	17,939	12,592	10,919
Short-term securitization borrowings	6,596	8,431	6,995	5,711	4,605
Accounts payable and accrued expenses	13,909	14,543	16,130	14,822	12,348
Deferred income taxes	434	478	520	495	576
Long-term borrowings	43,544	43,229	38,477	33,596	32,888
Retirement benefits and other liabilities	1,710	2,354	2,140	2,457	4,344
Liabilities held for sale	—	1,827	—	—	—
Total liabilities	79,989	84,395	82,201	69,673	65,680
Commitments and contingencies (Note 20)	—	—	—	—	—
Redeemable noncontrolling interest (Note 2)	51	82	97	92	—
Common stock, $1 par value (authorized - 1,200,000,000 shares; issued - 536,431,204 shares in 2025 and 2024), at paid-in amount	5,668	5,489	5,303	5,165	5,054
Common stock in treasury, 266,079,164 shares in 2025 and 264,678,912 shares in 2024, at cost	−36,362	−35,349	−31,335	−24,094	−20,533
Retained earnings	59,676	56,402	50,931	42,247	36,449
Accumulated other comprehensive income (loss)	−3,032	−3,706	−3,114	−3,056	−2,539
Total Deere & Company stockholders' equity	25,950	22,836	21,785	20,262	18,431
Noncontrolling interests	6	7	4	3	3
Total stockholders' equity	25,956	22,843	21,789	20,265	18,434
Total Liabilities and Stockholders' Equity	105,996	107,320	104,087	90,030	84,114

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Provision (credit) for credit losses	296	310	−16	192	−6
Depreciation and amortization	2,229	2,118	2,004	1,895	2,050
Impairments and other adjustments	—	—	191	—	—
Impairments and other adjustments	41	125	—	—	—
Share-based compensation expense	151	208	130	85	82
Credit for deferred income taxes	−288	−294	−790	−66	−441
Receivables related to sales	1,084	421	−4,253	−2,483	969
Inventories	−275	788	279	−2,091	−2,497
Accounts payable and accrued expenses	−251	−1,040	830	1,133	1,884
Accrued income taxes payable/receivable	−136	−123	−23	141	11
Retirement benefits	−865	−227	−170	−1,015	29
Other	475	−143	252	16	−370
Net cash provided by operating activities	7,459	9,231	8,589	4,699	7,726
Collections of receivables (excluding receivables related to sales)	26,480	25,162	23,051	20,907	18,959
Proceeds from maturities and sales of marketable securities	486	832	186	79	109
Proceeds from sales of equipment on operating leases	1,917	1,929	1,981	2,093	2,094
Cost of receivables acquired (excluding receivables related to sales)	−26,340	−28,816	−28,772	−26,300	−23,653
Acquisitions of businesses, net of cash acquired	−101	—	−82	−498	−244
Purchases of marketable securities	−703	−1,055	−491	−250	−194
Purchases of property and equipment	−1,360	−1,640	−1,498	−1,134	−848
Cost of equipment on operating leases acquired	−2,868	−3,162	−2,970	−2,654	−1,732
Collections of receivables from unconsolidated affiliates	507	—	—	—	—
Loans to unconsolidated affiliates	−109	—	—	—	—
Collateral on derivatives - net	182	413	−12	−642	−281
Other	−148	−127	−142	−86	−45
Net cash used for investing activities	−2,057	−6,464	−8,749	−8,485	−5,750
Net proceeds (payments) in short-term borrowings (original maturities three months or less)	−2,539	−1,856	4,008	3,852	818
Proceeds from borrowings issued (original maturities greater than three months)	13,161	18,096	15,429	10,358	8,722
Payments of borrowings (original maturities greater than three months)	−12,264	−13,232	−7,913	−8,445	−7,090
Repurchases of common stock	−1,138	−4,007	−7,216	−3,597	−2,538
Dividends paid	−1,720	−1,605	−1,427	−1,313	−1,040
Other	−79	−113	−73	−29	50
Net cash provided by (used for) financing activities	−4,579	−2,717	2,808	826	−1,078
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	77	−37	31	−224	55
Net Increase in Cash, Cash Equivalents, and Restricted Cash	900	13	2,679	−3,184	953

Filings

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Holdings (13F)

Portfolio as of 2025-09-30 · 5 positions

Reported AUM

Holdings

Top sector

Top sectors

Sector	Value	% of portfolio
Uncategorized	$0	0.0%

Top holdings

Issuer	Ticker	Value	%
Nothing to Report	—	$0	0.0%
Nothing to Report	—	$0	0.0%
Nothing to Report	—	$0	0.0%
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Nothing to Report	—	$0	0.0%