Deere & Company Income Statement

Financials in millions USD. Fiscal year is December - November.

Millions USD. Fiscal year is Dec - Nov.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 2, 2025	Oct '24 Oct 27, 2024	Oct '23 Oct 29, 2023	Oct '22 Oct 30, 2022	Oct '21 Oct 31, 2021
Operating Revenue	38,917	44,759	55,565	47,917	39,737
Other Revenue	6,711	6,773	5,657	4,646	4,246
Revenue	45,628	51,532	61,222	52,563	43,983
Revenue Growth (YoY)	-11.46%	-15.83%	16.47%	19.51%	23.85%
Cost of Revenue	28,151	30,735	37,715	35,247	29,116
Gross Profit	12,300	15,202	18,755	14,396	12,223
Selling, General & Admin	3,700	3,702	3,428	2,964	2,879
Research & Development	2,311	2,257	2,177	1,912	1,587
Other Operating Expenses	-323	-168	-244	-243	-169
Operating Expenses	5,688	5,791	5,361	4,633	4,297
Operating Income	6,612	9,411	13,394	9,763	7,926
Interest Expense	-247	-166	-91	-263	-306
Interest & Investment Income	56	127	29	14	41
Earnings From Equity Investments	-	-24	7	10	21
Currency Exchange Gain (Loss)	-8	-71	-122	-132	-59
EBT Excluding Unusual Items	6,413	9,277	13,217	9,392	7,623
Merger & Restructuring Charges	-	-152	-	-14	-
Gain (Loss) on Sale of Assets	-	-	-18	-	-
Asset Writedown	-61	-	-	-88	-
Legal Settlements	-95	57	-	-	-
Other Unusual Items	-	-	-173	-153	-
Pretax Income	6,257	9,182	13,026	9,137	7,623
Income Tax Expense	1,259	2,094	2,871	2,007	1,658
Earnings From Continuing Operations	4,998	7,088	10,155	7,130	5,965
Minority Interest in Earnings	29	12	11	1	-2
Net Income	5,027	7,100	10,166	7,131	5,963
Net Income to Common	5,027	7,100	10,166	7,131	5,963
Net Income Growth	-29.20%	-30.16%	42.56%	19.59%	116.76%
Shares Outstanding (Basic)	271	276	292	305	312
Shares Outstanding (Diluted)	272	277	294	306	314
Shares Change (YoY)	-1.95%	-5.62%	-4.15%	-2.45%	-0.82%
EPS (Basic)	18.56	25.72	34.79	23.42	19.14
EPS (Diluted)	18.50	25.62	34.63	23.28	18.99
EPS Growth	-27.79%	-26.02%	48.75%	22.59%	118.53%
Free Cash Flow	3,231	4,429	4,121	911	5,146
Free Cash Flow Per Share	11.89	15.98	14.04	2.97	16.39
Dividend Per Share	6.480	5.880	5.050	4.360	3.610
Dividend Growth	10.20%	16.44%	15.83%	20.78%	18.75%
Gross Margin	26.96%	29.50%	30.63%	27.39%	27.79%
Operating Margin	14.49%	18.26%	21.88%	18.57%	18.02%
Profit Margin	11.02%	13.78%	16.61%	13.57%	13.56%
Free Cash Flow Margin	7.08%	8.60%	6.73%	1.73%	11.70%
EBITDA	8,614	11,349	15,254	11,541	9,855
EBITDA Margin	18.88%	22.02%	24.92%	21.96%	22.41%
D&A For EBITDA	2,002	1,938	1,860	1,778	1,929
EBIT	6,612	9,411	13,394	9,763	7,926
EBIT Margin	14.49%	18.26%	21.88%	18.57%	18.02%
Effective Tax Rate	20.12%	22.80%	22.04%	21.97%	21.75%
Revenue as Reported	45,684	51,716	61,251	52,577	44,024
Advertising Expenses	235	230	244	227	212

Updated Nov 26, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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