DE

Business profile & competitive position

Deere & Company is an Industrials company in the Agricultural - Machinery industry, best known for manufacturing agricultural, construction, and forestry equipment. The company has manufactured agricultural equipment since 1837 and was incorporated in Delaware in 1958. Its operations are organized into four segments: Production & Precision Agriculture, Small Agriculture & Turf, Construction & Forestry, and Financial Services. The segments sell tractors, harvesters, loaders, excavators, turf equipment, and financing and leasing products.

The company's financial footprint provides meaningful clues about its competitive position. The net margin of 10.2% and return on equity of 18.1% imply that Deere retains meaningful pricing power and converts capital into profits at a rate that sits well above the cost of equity for most industrial manufacturers. A double-digit net margin in heavy machinery points to brand strength, aftermarket service attachment, and financing revenue that buffer the cyclicality of new equipment sales. At April 25, 2025, the aggregate market value of voting stock held by non-affiliates was approximately $124.3 billion, with 270,445,437 shares outstanding at November 28, 2025.

Financial posture

Deere currently carries a market capitalization of $181.0 billion and trades at a price-to-earnings ratio of 37.2. That P/E is materially above the long-run average for many industrial manufacturers, signaling that the market is pricing in sustained earnings growth or a rebound in the agricultural cycle. The 10.2% net margin and 18.1% ROE confirm that profitability metrics remain healthy even as the stock's valuation embeds forward-looking expectations.

The stock's beta is 0.87, which means it has historically moved less than the overall market on a percentage basis. At the current snapshot date, the stock is priced at $671.29 with a 14-day RSI of 56.9 and a 50-day exponential moving average of $651.81. The price sits above its 50-day EMA and the RSI sits near neutral territory, neither overbought nor oversold. The combination of a sub-1.0 beta and mid-range RSI suggests that recent price action has been relatively calm compared with broader market swings.

Strategic priorities & outlook

According to Deere's most recent SEC 10-K filing, the company's strategic center of gravity is the Smart Industrial Operating Model. That model rests on three pillars: customer production systems alignment, technology stack investments, and integrated lifecycle solutions. In practice, that means Deere is trying to embed itself deeper into farm and construction operations not just as an equipment seller, but as a long-term productivity partner.

The 10-K identifies several concrete priorities. Deere is advancing its technology stack across hardware/devices, embedded software, connectivity, data platforms, automation, machine learning, and autonomy to deliver intelligent solutions. It is also integrating aftermarket and support capabilities into Lifecycle Solutions so it can manage equipment, service, and technology needs over the full ownership life. The company is pursuing its refined Leap Ambitions, updated in December 2025, with long-term financial and operational goals emphasizing automation, autonomy, digitalization, lifecycle solutions, and Solutions as a Service. The Financial Services segment supports those equipment sales through retail notes, revolving charge accounts, wholesale receivables, leases, and extended warranties.

Macro & geopolitical exposure

Deere's Agricultural - Machinery classification means its revenue and earnings are exposed to several macroeconomic channel. Farm income and commodity prices directly drive demand for tractors, combines, and precision agriculture equipment. When crop prices are high, farmers tend to upgrade fleets; when commodity prices fall, large-ticket equipment purchases are deferred. Interest rates matter because agricultural and construction buyers frequently finance purchases through Deere's own Financial Services segment and third-party lenders. Higher rates increase the cost of carrying equipment and can lengthen replacement cycles.

Trade policy and tariffs are persistent risk factors because agricultural equipment and component supply chains cross multiple borders, and farm equipment exports move into markets where trade disputes can flare with little warning. Currency fluctuations affect translated earnings from international sales. The construction and forestry businesses add exposure to housing activity, infrastructure spending, and timber/lumber demand. Weather patterns and climate regulation also sit at the edge of the investment thesis, since drought, flooding, or emissions rules can alter farm profitability and equipment utilization.

Recent developments

A handful of recent headlines frames the near-term narrative around the stock. On November 2, 2026, Deere announced that former EY U.S. CEO Julie Boland had joined the company's Board of Directors, according to prnewswire.com. On October 31, 2026, defenseworld.net reported that Deere & Company stock had been sold by Choreo LLC. On October 30, 2026, zacks.com published an article titled "Why the Market Dipped But Deere (DE) Gained Today." One day earlier, on October 29, 2026, zacks.com also published "3 Farm Equipment Stocks to Watch Amid Industry Challenges." Taken together, these items show a company that is still attracting board-level talent and outperforming short-term market weakness, even as the broader farm equipment sector faces headwinds.

Earnings behavior & post-earnings drift

Deere's recent earnings track record is strikingly consistent. Over the last 8 reported quarters, the company has beaten estimates in all 8 quarters, a 100% beat rate, with an average earnings surprise of 11.1%. That is not a small average beat; it reflects either conservative guidance, resilient margins, or a mix of both. Yet the post-earnings stock reaction has been far more restrained. The average 5-day price move in the 5 trading days after earnings across those quarters is -0.33%, which the data classifies as "flat" drift.

The last four quarters illustrate how headline beats do not always translate into directional stock follow-through. On August 20, 2026, Deere reported actual EPS of $5.10 against an estimate of $4.69, an 8.7% surprise, and the stock rose 4.27% the next day while gaining 0.28% over the following 5 days. On May 21, 2026, actual EPS of $6.55 beat the $5.70 estimate by 14.9%, but the stock fell 0.41% the next day before rising 2.04% over the next 5 days. On February 19, 2026, actual EPS of $2.42 beat the $2.02 estimate by 19.8%, yet the stock moved only 0.07% the next day and then dropped 6.43% over the following 5 days. On November 26, 2025, actual EPS of $3.93 beat the $3.84 estimate by 2.3%, but the stock fell 1.14% the next day and climbed 2.8% over the next 5 days.

The next scheduled earnings release is November 25, 2026, before the market open, with a consensus EPS estimate of $4.07. The pattern of consistent beats against flat post-earnings drift suggests the market's real expectation may already be embedded in the stock price, and that the reaction will likely depend on forward guidance and segment commentary at least as much as the headline EPS print.

For a deeper dive into how institutional analysts are modeling Deere's segments, margin trajectory, and next-quarter catalysts, review the full institutional verdict on the ticker page.