Deere & Company

Agricultural - Machinery · Industrials

Also trades as: 0R2P.L

Price

$647.47

+26.53 (+4.27%)

Market Cap

$174.78B

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through May 3, 2026

How the score breaks down

Quality

Good

Growth

Weak

Cash Flow

Strong

Stability

Mixed

Valuation

Good

Dividends

Weak

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Share count falling — buybacks

−13.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 314.0M (2021) → 271.7M (2025)

Winston Score History

The full picture

Deere & Company makes the machines that farmers, construction crews, and landscapers use every day. Its most famous products are tractors, combines, and harvesters sold under the green-and-yellow John Deere brand — one of the most recognized names in agriculture worldwide. The company also makes excavators, bulldozers, and lawn equipment, serving customers from large commercial farms to small homeowners.

Deere earns money by selling and financing equipment, and it also charges for software and precision agriculture technology built into its machines. It operates globally, with especially strong sales in North America, South America, and Europe, and generates over $50 billion in annual revenue. Its main competitive advantage is brand loyalty combined with a large dealer network and proprietary technology that locks farmers into its ecosystem — but the business is sensitive to farm income cycles, so when crop prices fall and farmers cut spending, Deere's sales tend to drop alongside them.

Politician Trades

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9 Congressional buys and 10 sells on DE in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-1.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$2.3B/ year

→ Flat (+1% vs prior year)

5.2% of revenue

In line with sector average (4%)

Steady R&D investment year-over-year

Insider Activity

0.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$58.4B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Deere & Company is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

38.2%

Modest — 38.2% gross margin

Profit after running costs

Operating Margin

22.5%

Excellent — 22.5% operating margin

Return on the money invested

ROCE

9.4%

Below par — 9.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+5.4%

Slow sales growth (+5.4% YoY)

Profit growth

EPS YoY

-14.7%

Earnings shrinking (-14.7% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

166%

Turns 166% of profit into real cash

Spare cash per sale

FCF Margin

8.0%

Modest free cash flow (8.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

2.34

Heavy debt load (2.34)

Covers its interest

Interest Cover

2.88x

Tight — interest eats into profit (2.9x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

36.6x

Pricey — P/E 36.6

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+3.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (36.6 → 33.0)

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Dividends

Dividend

Dividend Yield

1.09%

Small dividend — 1.09% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+2.4%

Dividend flat

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