NYSE$DE
Deere & Co · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Deere reported fiscal Q4 2025 net income of $1.065B on net sales of $10.58B, with diluted EPS of $3.93.
Fourth-quarter net sales increased 11% to $10.58 billion while net income was $1.065 billion ($3.93 diluted EPS) versus $1.245 billion a year ago. Full-year net sales fell 12% to $38.92 billion and net income was $5.03 billion ($18.50 EPS). Management expects fiscal 2026 net income of $4.00–$4.75 billion as large ag remains subdued but small ag and construction improve.
- Q4 net sales $10.58B (+11% YoY); EPS $3.93.
- FY25 net income $5.03B; EPS $18.50.
- FY26 net income guide $4.00B–$4.75B.
- Tariffs and large-ag cycle pressure remain headwinds.
Headline financials
Revenue & EPS history
Deere · Revenue · Quarterly
$10.6B
Revenue by segment
Deere · $13.4B total across 5 segments · Q2 2026
- Production & Precision Ag$4.5B—33.7%
- Construction & Forestry$3.79B—28.3%
- Small Ag & Turf$3.49B—26.1%
- Financial Services$1.37B—10.2%
- Other revenues$225M—1.7%
Forward guidance
Deere guided fiscal 2026 net income to $4.00–$4.75 billion, expecting 2026 to mark the bottom of the large agricultural equipment cycle with growth in small ag and construction offsetting large-ag weakness.
Tailwinds
- Small agriculture & turf and construction & forestry expected to grow.
- Inventory management and cost control initiatives.
- Q4 net sales rose 11% YoY.
Headwinds
- Large ag cycle remains subdued.
- Tariff-related margin pressure continues.
- FY25 net income down 29% YoY to $5.03B.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2025
+0.2%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+2.1%
Avg return
30 days after
53%
39 / 73 earnings
Positive
+14.3%
Q3 2016
Best reaction
-10.9%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +0.8% | -4.1% | +6.9% | |
| Q1 2026 | -0.1% | +8.6% | -5.7% | |
| Q4 2025 | -5.8% | -6.0% | -5.9% | |
| Q3 2025 | -6.5% | -4.7% | -8.4% | |
| Q2 2025 | +3.6% | +5.8% | +2.4% | |
| Q1 2025 | -2.2% | +5.2% | +0.2% | |
| Q4 2024 | +10.3% | +13.8% | +6.8% | |
| Q3 2024 | +7.6% | +6.1% | +12.4% | |
| Q2 2024 | -4.1% | -6.6% | -8.7% | |
| Q1 2024 | -6.3% | -7.1% | -0.4% | |
| Q4 2023 | -3.3% | -5.3% | +3.7% | |
| Q3 2023 | -6.8% | -5.9% | -1.7% | |
| Q2 2023 | -2.7% | -4.4% | +10.0% | |
| Q1 2023 | +6.0% | +5.8% | -4.3% | |
| Q4 2022 | +6.0% | +5.9% | +4.9% | |
| Q3 2022 | +0.4% | +3.6% | -3.7% | |
| Q2 2022 | -8.0% | -5.9% | -11.5% | |
| Q1 2022 | -7.0% | -11.3% | +8.6% | |
| Q4 2021 | +2.9% | -0.3% | -0.0% | |
| Q3 2021 | +1.1% | +4.8% | -2.8% | |
| Q2 2021 | +1.2% | +0.7% | -7.4% | |
| Q1 2021 | +12.4% | +15.1% | +24.1% | |
| Q4 2020 | +0.2% | +0.0% | +2.9% | |
| Q3 2020 | +7.5% | +10.4% | +16.2% | |
| Q2 2020 | +3.7% | +7.4% | +8.4% | |
| Q1 2020 | +3.6% | +0.7% | -32.7% | |
| Q4 2019 | -4.9% | -6.4% | -0.5% | |
| Q3 2019 | +6.0% | +7.8% | +15.1% | |
| Q2 2019 | -7.3% | -4.9% | +3.8% | |
| Q1 2019 | -3.2% | -1.6% | -2.6% | |
| Q4 2018 | +3.1% | +7.5% | +3.2% | |
| Q3 2018 | +2.3% | +3.8% | +7.6% | |
| Q2 2018 | +7.8% | +6.7% | +1.3% | |
| Q1 2018 | -1.2% | -2.8% | -1.8% | |
| Q4 2017 | +4.5% | +6.9% | +13.1% | |
| Q3 2017 | -6.0% | -6.1% | -4.0% | |
| Q2 2017 | +8.0% | +9.0% | +13.5% | |
| Q1 2017 | +0.4% | +0.4% | +1.2% | |
| Q4 2016 | +12.9% | +10.5% | +12.1% | |
| Q3 2016 | +14.3% | +13.6% | +6.5% | |
| Q2 2016 | -5.3% | -2.1% | +4.6% | |
| Q1 2016 | -2.4% | — | — | |
| Q4 2015 | +3.6% | — | — | |
| Q3 2015 | -10.9% | — | — | |
| Q2 2015 | +4.9% | — | — | |
| Q1 2015 | -0.8% | — | — | |
| Q4 2014 | -1.3% | — | — | |
| Q3 2014 | -1.8% | — | — | |
| Q2 2014 | -2.6% | — | — | |
| Q1 2014 | -1.8% | — | — | |
| Q4 2013 | +1.3% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | -4.7% | — | — | |
| Q1 2013 | -3.6% | — | — | |
| Q4 2012 | -2.3% | — | — | |
| Q3 2012 | -5.8% | — | — | |
| Q2 2012 | +0.5% | — | — | |
| Q1 2012 | -0.6% | — | — | |
| Q4 2011 | +4.1% | — | — | |
| Q3 2011 | -3.5% | — | — | |
| Q2 2011 | +1.3% | — | — | |
| Q1 2011 | +4.6% | — | — | |
| Q4 2010 | +0.4% | — | — | |
| Q3 2010 | +0.4% | — | — | |
| Q2 2010 | -3.9% | — | — | |
| Q1 2009 | +1.6% | — | — | |
| Q1 2010 | +2.8% | — | — | |
| Q4 2009 | +0.6% | — | — | |
| Q2 2009 | +0.6% | — | — | |
| Q4 2007 | +0.6% | — | — | |
| Q3 2009 | -3.3% | — | — | |
| Q4 2008 | -3.3% | — | — | |
| Q3 2008 | -3.3% | — | — |
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