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Over the 5‐year period analyzed, Deere & Co initially exhibited strong revenue and profitability growth. Revenues increased from approximately $44 billion in 2021 to a peak of about $61.3 billion in 2023. Gross profit also expanded markedly over this period, rising from $7.6 billion in 2021 to over $13 billion in 2023, while operating income and net income followed suit—with operating income growing from $8.0 billion to nearly $13.0 billion and net income increasing from $5.96 billion to $10.17 billion in the same timeframe. These improvements, reflecting impressive double-digit growth rates year-over-year through 2021 to 2023, suggest that the company benefited from favorable market conditions and operational efficiencies in its core heavy equipment and agricultural machinery segments. However, the subsequent years showed significant declines. Revenue dropped by over 15% from 2023 to 2024—falling to roughly $51.7 billion—and continued to decrease to about $45.7 billion in 2025. Similarly, gross profit and net income experienced sharp declines; net income, for instance, decreased by roughly 30% from 2023 to 2024 and further declined in 2025. The operating income data for 2025 appears to be unavailable, which introduces some uncertainty but reinforces the downward trend observed in other key profitability metrics. Overall, while Deere & Co demonstrated robust growth earlier in the period, the marked year-over-year declines in the latter stages raise concerns about potential market headwinds or sector-specific challenges. Given Deere’s established market position and historical resilience, assessing the sustainability of recent performance trends will be key to understanding its future financial health.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.