Deere (DE) FY2024 results: revenue $51.7 billion, down 15.6% on the year
Deere & Co. (DE) reported revenue of $51.7 billion for fiscal 2024, the year ended 27 October 2024, down 15.6% on the year before. Net income was $7.1 billion, down 30.2%, and diluted earnings per share $25.62. The figures are the company's own, from the 10-K it filed with the SEC on 12 December 2024.
Revenue
$51.7 billion
-15.6% on the year
FY2017FY2024
Operating margin
17.5%
21.2% a year earlier
FY2017FY2024
Net income
$7.1 billion
-30.2% on the year
FY2017FY2024
Diluted EPS
$25.62
-26.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
9,231
8,589
4,699
+7.5%
Capital expenditure
1,640
1,498
1,134
+9.5%
Free cash flow
7,591
7,091
3,565
+7.1%
Free cash flow margin
14.7%
11.6%
6.8%
Cash from investing
-6,464
-8,749
-8,485
Cash from financing
-2,717
2,808
826
Depreciation and amortisation
2,118
2,004
1,895
+5.7%
Share-based compensation
208
130
85.0
+60.0%
Buybacks
4,007
7,216
3,597
-44.5%
Dividends paid
1,605
1,427
1,313
+12.5%
Dividend per share
$5.88
$5.05
$4.36
+16.4%
Diluted shares, weighted
277m
294m
306m
-5.6%
Shares outstanding at period end
272m
282m
n/a
-3.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
22,836
21,785
20,262
+4.8%
Non-controlling interest
7.0
4.0
3.0
+75.0%
Redeemable equity
82.0
97.0
92.0
-15.5%
Debt
65,193
63,411
51,899
+2.8%
Finance lease liabilities
72.0
49.0
30.0
+46.9%
Other liabilities
19,130
18,741
17,744
+2.1%
Total liabilities and equity
107,320
104,087
90,030
+3.1%
Goodwill
3,959
3,900
3,687
+1.5%
Intangible assets
999
1,133
1,218
-11.8%
Securities held for sale or to maturity
1,154
724
661
+59.4%
Cash and equivalents
7,324
7,458
4,774
-1.8%
Inventory
7,093
8,160
8,495
-13.1%
Other assets
86,791
82,712
71,195
+4.9%
Total assets
107,320
104,087
90,030
+3.1%
10-K for the year ended 27 October 2024, filed 12 December 2024: the filing.