Doing some research...
Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
DEERE & CO’s top-line, gross profit, operating income, and bottom-line conversion. Values are shown in USD millions.
CAGR 0.9% (FY2021 to FY2025)
CAGR -4.8% (FY2021 to FY2025)
Latest annual filing: FY2025
CAGR -4.2% (FY2021 to FY2025)
Change vs FY2021: -357 bps
Change vs FY2021: N/A
Change vs FY2021: -254 bps
Profitability profile tracked across FY2021 through FY2025.
Side-by-side read of gross, operating, and net margin.
Read the shape of profitability with either a discrete bar view or a cleaner line trajectory.
FY2025 versus FY2024
FY2025 versus FY2024
FY2025 versus FY2024
FY2025 versus FY2024
Negative values are highlighted to make slowdowns obvious.
The most direct way to see whether the business is accelerating or rolling over.
Compounded annual growth across FY2021 to FY2025.
Compounded annual growth across FY2021 to FY2025.
Compounded annual growth across FY2021 to FY2025.
Compounded annual growth across FY2021 to FY2025.
Over the five-year period, Deere & Co’s revenue and profitability metrics show a mix of growth and subsequent declines. Revenue peaked in 2023 at approximately 61.3 billion USD before falling to about 51.7 billion USD in 2024 and dropping further to 45.7 billion USD in 2025, reflecting a noticeable downturn. Gross profit followed a similar trend, reaching a high of 13.0 billion USD in 2023 but then declining by roughly 29% in 2024 and by nearly 32% in 2025 down to 6.3 billion USD. Net income, too, experienced a sharp rise from 5.96 billion USD in 2021 to a strong 10.17 billion USD in 2023, before decreasing by over 30% in 2024 to 7.1 billion USD and further declining to 5.03 billion USD in 2025. These marked swings, particularly the declines exceeding 20% from the 2023 highs, denote significant year-over-year adjustments that may be driven by changing market demands or cost pressures impacting operational efficiency. Intriguingly, operating income climbed steadily from 8.01 billion USD in 2021 to approximately 12.96 billion USD in 2023, reflecting strong operational performance during that period. However, the drastic fall to 0 billion USD in 2025 is a pronounced red flag, suggesting either severe operational challenges or an extraordinary one-time event in that year. Overall, while the company demonstrated robust performance through 2023, the subsequent declines across key metrics raise questions about near-term sustainability and operational stability. Deere & Co remains a significant player in the heavy machinery industry, yet the recent downturn underscores the importance of closely monitoring market conditions and internal operational adjustments to ensure long-term 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.