Deere (DE) FY2023 results: revenue $61.3 billion, up 16.5% on the year
Deere & Co. (DE) reported revenue of $61.3 billion for fiscal 2023, the year ended 29 October 2023, up 16.5% on the year before. Net income was $10.2 billion, up 42.6%, and diluted earnings per share $34.63. The figures are the company's own, from the 10-K it filed with the SEC on 15 December 2023.
Revenue
$61.3 billion
+16.5% on the year
FY2016FY2023
Operating margin
21.2%
18.1% a year earlier
FY2016FY2023
Net income
$10.2 billion
+42.6% on the year
FY2016FY2023
Diluted EPS
$34.63
+48.8% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
8,589
4,699
7,726
+82.8%
Capital expenditure
1,498
1,134
848
+32.1%
Free cash flow
7,091
3,565
6,878
+98.9%
Free cash flow margin
11.6%
6.8%
15.6%
Cash from investing
-8,749
-8,485
-5,750
Cash from financing
2,808
826
-1,078
+240.0%
Depreciation and amortisation
2,004
1,895
2,050
+5.8%
Share-based compensation
130
85.0
82.0
+52.9%
Buybacks
7,216
3,597
2,538
+100.6%
Dividends paid
1,427
1,313
1,040
+8.7%
Dividend per share
$5.05
$4.36
$3.61
+15.8%
Diluted shares, weighted
294m
306m
314m
-4.1%
Shares outstanding at period end
282m
n/a
n/a
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
21,785
20,262
18,431
+7.5%
Non-controlling interest
4.0
3.0
3.0
+33.3%
Redeemable equity
97.0
92.0
n/a
+5.4%
Debt
63,411
51,899
48,412
+22.2%
Finance lease liabilities
49.0
30.0
38.0
+63.3%
Other liabilities
18,741
17,744
17,230
+5.6%
Total liabilities and equity
104,087
90,030
84,114
+15.6%
Goodwill
3,900
3,687
3,291
+5.8%
Intangible assets
1,133
1,218
1,275
-7.0%
Securities held for sale or to maturity
724
661
651
+9.5%
Loans
n/a
n/a
33,799
Cash and equivalents
7,458
4,774
8,017
+56.2%
Inventory
8,160
8,495
6,781
-3.9%
Other assets
82,712
71,195
30,300
+16.2%
Total assets
104,087
90,030
84,114
+15.6%
10-K for the year ended 29 October 2023, filed 15 December 2023: the filing.