Company Valuation: Deere & Company

Data adjusted to current consolidation scope
Fiscal Period: November 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 110,165 116,487 107,585 109,555 124,792 169,953 - -
Change - 5.74% -7.64% 1.83% 13.91% 36.19% - -
Enterprise Value (EV) 1 149,832 162,878 162,592 166,270 179,041 224,461 223,073 222,979
Change - 8.71% -0.18% 2.26% 7.68% 25.37% -0.62% -0.04%
P/E 18.7x 16.6x 10.8x 15.6x 25x 34.8x 28.1x 22.5x
PBR 6.01x 5.8x 5.01x 4.84x 4.82x 6.05x 5.56x 5.19x
PEG - 0.7x 0.2x -0.6x -0.9x -17.34x 1.2x 0.9x
Capitalization / Revenue 2.77x 2.43x 1.94x 2.45x 3.21x 4.13x 3.82x 3.49x
EV / Revenue 3.77x 3.4x 2.93x 3.71x 4.6x 5.46x 5.01x 4.57x
EV / EBITDA 16.5x 15.4x 11.5x 16.2x 24.5x 30.5x 25.3x 21.2x
EV / EBIT 18.7x 17.1x 12.5x 18.4x 29.7x 36.9x 30.3x 25.6x
EV / FCF 21.8x 45.7x 22.9x 21.9x 29.4x 49.7x 35.9x 33.7x
FCF Yield 4.59% 2.19% 4.36% 4.57% 3.41% 2.01% 2.79% 2.97%
Dividend per Share 2 3.32 4.28 4.83 5.76 6.33 6.764 6.946 6.979
Rate of return 0.93% 1.11% 1.29% 1.44% 1.37% 1.07% 1.1% 1.11%
EPS 2 18.99 23.28 34.63 25.62 18.5 18.13 22.44 28.02
Distribution rate 17.5% 18.4% 13.9% 22.5% 34.2% 37.3% 31% 24.9%
Net sales 1 39,737 47,917 55,565 44,759 38,917 41,113 44,515 48,761
EBITDA 1 9,055 10,549 14,081 10,259 7,300 7,370 8,812 10,535
EBIT 1 8,012 9,508 12,958 9,039 6,020 6,080 7,372 8,708
Net income 1 5,963 7,131 10,166 7,100 5,027 4,904 5,938 7,094
Net Debt 1 39,667 46,391 55,007 56,715 54,249 54,508 53,120 53,026
Reference price 2 355.30 385.95 373.56 400.42 461.63 630.33 630.33 630.33
Nbr of stocks (in thousands) 310,061 301,820 288,001 273,600 270,329 269,625 - -
Announcement Date 24/11/21 23/11/22 22/11/23 21/11/24 26/11/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
34.77x5.46x30.45x1.07% 170B
22.21x - - 1.6% 9.43B
18.85x0.95x9.1x3.19% 3.89B
23.73x2.41x20.09x1.55% 3.53B
9.68x0.85x10.53x3.73% 2.03B
21.87x - - 1.3% 1.16B
10.82x - - 2.57% 1.1B
49.88x0.78x6.41x0.9% 893M
Average 23.98x 2.09x 15.32x 1.99% 24B
Weighted average by Cap. 33.22x 5.23x 29.45x 1.19%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  5. Valuation Deere & Company