Deere & Co.


Market Cap$99.99B

Compare Deere

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Deere & Co.Deere & Co.9.81.48%47%1.72.9
marketMarket Avg49.61.28%30%6.11.1
IndustrialsIndustrials Avg19.10.99%21%3.10.6

Earnings Call Q1 2024

February 15, 2024 - AI Summary

Deere & Company reported solid execution and strong financial results for the first quarter, with an 18.5% margin for the equipment operations.
The company expects farm fundamentals to moderate but remain supportive of equipment replacement demand, with U.S. net cash farm income forecasted to be down over 20% from 2023 levels.
Deere's order books remain healthy, reflecting normalized volumes, although fleet replenishment is moderating.
In the Production and Precision ag segment, net sales were down 7%, primarily due to lower shipment volumes, partially offset by price realization. Operating profit was $1.045 billion, resulting in a 21.6% operating margin.
For Small Ag and Turf, net sales were down 19% due to lower shipment volumes, partially offset by price realization. Operating profit declined year-over-year to $326 million, resulting in a 13.4% operating margin.
Construction and Forestry net sales were flat year-over-year at $3.212 billion, with positive price realization offsetting lower shipment volumes. Operating profit was $566 million, resulting in a 17.6% operating margin. Overall, while there are challenges in the agricultural industry and global markets, Deere remains focused on managing production and inventories proactively, investing in R&D, and delivering value to customers through its technology solutions. The company expects to perform well across all points of the cycle and generate strong cash flows for reinvestment and shareholder returns.

Target Price by Analysts

12.5% upsideDeere Target Price DetailsTarget Price

Current Fair Value

6.9% upside

Undervalued by 6.9% based on the discounted cash flow analysis.

Share Statistics

Market cap$99.99 Billion
Enterprise Value$157.58 Billion
Dividend Yield$5.2933 (1.48%)
Earnings per Share$34.63
Outstanding Shares280,255,442
Avg 30 Day Volume1,765,643


Return on Equity-
Return on Assets-
Return on Invested Capital-

Valuation & Multiples

P/E Ratio9.84
Price to Sales1.67
Price to Book Ratio4.74
Enterprise Value to Revenue2.57
Enterprise Value to EBIT12.1
Enterprise Value to Net Income15
Total Debt to Enterprise0.4
Debt to Equity2.91

Revenue Sources

No data

ESG Score

No data

About Deere & Co.

74,412 employees
CEO: John May

Deere & Company is a world leader in providing advanced products, technology and services for customers whose work is revolutionizing agriculture and construction - those who cultivate, harvest, transform, enrich and build upon the land ...