Company profile
SEC EDGAR ↗- Industry
- Farm Machinery & Equipment
- Listed
- NYSE: DE
- Incorporated
- DE
- Headquarters
- Moline, IL
- Fiscal year end
- Nov 1
Financials
FY2025- Revenue
- $45.7B
- Net income
- $5.03B
- Total assets
- $106.0B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $45.7B | $5.03B | $106.0B |
| FY2024 | $51.7B | $7.10B | $107.3B |
| FY2023 | $61.3B | $10.2B | $104.1B |
| FY2022 | $52.6B | $7.13B | $90.0B |
| FY2021 | $44.0B | $5.96B | $84.1B |
| FY2020 | $35.5B | $2.75B | $75.1B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
The analyses
The Money Machine · Business Model
John Deere Wants to Be a SaaS Company. Right Now It's Mostly a Pitch Deck.
Deere set a target of 10% recurring revenue by 2030 and talks like a software business. But its data platform is free, its per-acre billing is barely begun, and no filing shows a single recurring-revenue line. The ambition is real. The numbers haven't arrived.
7 min
The Crisis Response · Crisis & Reinvention
Deere Outlasted a 163-Day Strike on a Stronger Balance Sheet — and Put the Silence to Work
The 163-day 1986–87 stoppage cost Deere a $229.3 million loss — its first since 1933. But the real story isn't crisis-management genius. It's that Deere walked into the fight with a balance sheet its rivals didn't have, and used the silence on the line to do something it needed anyway.
8 min
The Crisis Response · Decision Forks
John Deere Signed a Repair Truce and Kept the One Tool That Matters
In 2023 Deere signed a repair pact with the Farm Bureau and the headlines called it peace. Two years later the FTC said Deere still hadn't released the working Service ADVISOR tool—and farmers won $99M anyway. The truce was the strategy.
8 min
The Ecosystem Lock-In · Moat & Competition
John Deere Sells You the Tractor. The Repair Is the Subscription.
A farmer who owns a $500,000 combine still can't fully fix it - the diagnostic software is redacted by design. Deere's parts and services revenue grew 22% from 2013-2019 while equipment sales fell 19%. The lock-in isn't a bug; it's the business model, and the FTC is now in court over it.
8 min