Company Valuation: Deere & Company

Data adjusted to current consolidation scope
Fiscal Period: November 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 110,165 116,487 107,585 109,555 124,792 187,373 - -
Change - 5.74% -7.64% 1.83% 13.91% 50.15% - -
Enterprise Value (EV) 1 149,832 162,878 162,592 166,270 179,041 241,881 240,493 240,400
Change - 8.71% -0.18% 2.26% 7.68% 35.1% -0.57% -0.04%
P/E 18.7x 16.6x 10.8x 15.6x 25x 38.3x 30.4x 24.3x
PBR 6.01x 5.8x 5.01x 4.84x 4.82x 6.66x 6.08x 5.72x
PEG - 0.7x 0.2x -0.6x -0.9x -18.9x 1.2x 1x
Capitalization / Revenue 2.77x 2.43x 1.94x 2.45x 3.21x 4.56x 4.19x 3.86x
EV / Revenue 3.77x 3.4x 2.93x 3.71x 4.6x 5.88x 5.38x 4.95x
EV / EBITDA 16.5x 15.4x 11.5x 16.2x 24.5x 32.2x 26.6x 22.8x
EV / EBIT 18.7x 17.1x 12.5x 18.4x 29.7x 39.5x 32.4x 27.4x
EV / FCF 21.8x 45.7x 22.9x 21.9x 29.4x 54.5x 38.7x 36.3x
FCF Yield 4.59% 2.19% 4.36% 4.57% 3.41% 1.83% 2.59% 2.75%
Dividend per Share 2 3.32 4.28 4.83 5.76 6.33 6.566 7.036 7
Rate of return 0.93% 1.11% 1.29% 1.44% 1.37% 0.94% 1.01% 1.01%
EPS 2 18.99 23.28 34.63 25.62 18.5 18.13 22.83 28.57
Distribution rate 17.5% 18.4% 13.9% 22.5% 34.2% 36.2% 30.8% 24.5%
Net sales 1 39,737 47,917 55,565 44,759 38,917 41,118 44,692 48,586
EBITDA 1 9,055 10,549 14,081 10,259 7,300 7,520 9,049 10,544
EBIT 1 8,012 9,508 12,958 9,039 6,020 6,116 7,411 8,771
Net income 1 5,963 7,131 10,166 7,100 5,027 4,903 5,989 7,158
Net Debt 1 39,667 46,391 55,007 56,715 54,249 54,508 53,120 53,026
Reference price 2 355.30 385.95 373.56 400.42 461.63 694.94 694.94 694.94
Nbr of stocks (in thousands) 310,061 301,820 288,001 273,600 270,329 269,625 - -
Announcement Date 11/24/21 11/23/22 11/22/23 11/21/24 11/26/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
39.14x5.98x32.69x0.91% 191B
24.41x - - 1.62% 9.14B
19.96x1x9.51x3.03% 3.98B
22.01x2.21x18.48x1.67% 3.27B
9.13x0.82x10.06x3.96% 1.96B
22.25x - - 1.28% 1.18B
10.41x - - 2.49% 1.14B
117.57x0.88x10.88x - 848M
Average 33.11x 2.18x 16.32x 2.14% 26.6B
Weighted average by Cap. 37.68x 5.75x 31.69x 1.03%

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