Deere (DE) FY2021 results: revenue $44.0 billion, up 23.9% on the year
Deere & Co. (DE) reported revenue of $44.0 billion for fiscal 2021, the year ended 31 October 2021, up 23.9% on the year before. Net income was $6.0 billion, up 116.8%, and diluted earnings per share $18.99. The figures are the company's own, from the 10-K it filed with the SEC on 16 December 2021.
Revenue
$44.0 billion
+23.9% on the year
FY2014FY2021
Operating margin
18.2%
12.1% a year earlier
FY2014FY2021
Net income
$6.0 billion
+116.8% on the year
FY2014FY2021
Diluted EPS
$18.99
+118.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
7,726
7,483
3,412
+3.2%
Capital expenditure
848
820
1,120
+3.4%
Free cash flow
6,878
6,663
2,292
+3.2%
Free cash flow margin
15.6%
18.7%
5.8%
Cash from investing
-5,750
-3,319
-3,924
Cash from financing
-1,078
-980
509
Depreciation and amortisation
2,050
2,118
2,019
-3.2%
Share-based compensation
82.0
81.0
82.0
+1.2%
Buybacks
2,538
750
1,253
+238.4%
Dividends paid
1,040
956
943
+8.8%
Dividend per share
$3.61
$3.04
$3.04
+18.7%
Diluted shares, weighted
314m
317m
321m
-0.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
18,431
12,937
11,413
+42.5%
Non-controlling interest
3.0
7.0
4.0
-57.1%
Redeemable equity
n/a
n/a
14.0
Debt
48,412
45,998
45,334
+5.2%
Finance lease liabilities
38.0
39.0
n/a
-2.6%
Other liabilities
17,230
16,110
16,246
+7.0%
Total liabilities and equity
84,114
75,091
73,011
+12.0%
Fixed assets
n/a
n/a
5,973
Goodwill
3,291
3,081
2,917
+6.8%
Intangible assets
1,275
1,327
1,380
-3.9%
Securities held for sale or to maturity
651
577
522
+12.8%
Loans
33,799
29,750
29,195
+13.6%
Cash and equivalents
8,017
7,066
3,857
+13.5%
Inventory
6,781
4,999
5,975
+35.6%
Other assets
30,300
28,291
23,192
+7.1%
Total assets
84,114
75,091
73,011
+12.0%
10-K for the year ended 31 October 2021, filed 16 December 2021: the filing.