Deere (DE) FY2022 results: revenue $52.6 billion, up 19.4% on the year
Deere & Co. (DE) reported revenue of $52.6 billion for fiscal 2022, the year ended 30 October 2022, up 19.4% on the year before. Net income was $7.1 billion, up 19.6%, and diluted earnings per share $23.28. The figures are the company's own, from the 10-K it filed with the SEC on 15 December 2022.
Revenue
$52.6 billion
+19.4% on the year
FY2015FY2022
Operating margin
18.1%
18.2% a year earlier
FY2015FY2022
Net income
$7.1 billion
+19.6% on the year
FY2015FY2022
Diluted EPS
$23.28
+22.6% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
4,699
7,726
7,483
-39.2%
Capital expenditure
1,134
848
820
+33.7%
Free cash flow
3,565
6,878
6,663
-48.2%
Free cash flow margin
6.8%
15.6%
18.7%
Cash from investing
-8,485
-5,750
-3,319
Cash from financing
826
-1,078
-980
Depreciation and amortisation
1,895
2,050
2,118
-7.6%
Share-based compensation
85.0
82.0
81.0
+3.7%
Buybacks
3,597
2,538
750
+41.7%
Dividends paid
1,313
1,040
956
+26.2%
Dividend per share
$4.36
$3.61
$3.04
+20.8%
Diluted shares, weighted
306m
314m
317m
-2.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
20,262
18,431
12,937
+9.9%
Non-controlling interest
3.0
3.0
7.0
0.0%
Redeemable equity
92.0
n/a
n/a
Debt
51,899
48,412
45,998
+7.2%
Finance lease liabilities
30.0
38.0
39.0
-21.1%
Other liabilities
17,744
17,230
16,110
+3.0%
Total liabilities and equity
90,030
84,114
75,091
+7.0%
Goodwill
3,687
3,291
3,081
+12.0%
Intangible assets
1,218
1,275
1,327
-4.5%
Securities held for sale or to maturity
661
651
577
+1.5%
Loans
n/a
33,799
29,750
Cash and equivalents
4,774
8,017
7,066
-40.5%
Inventory
8,495
6,781
4,999
+25.3%
Other assets
71,195
30,300
28,291
+135.0%
Total assets
90,030
84,114
75,091
+7.0%
10-K for the year ended 30 October 2022, filed 15 December 2022: the filing.