DE Latest Report

Performance of the Current Financial Report

As of January 26, 2025, Deere (stock code: DE) had an operating income of US$8.508 billion. Without the data from the previous year, it is difficult to directly judge its year-on-year change. However, the potential reasons for the growth of operating income can be analyzed from multiple aspects such as market demand, product pricing, new product launches, and economic environment.

Key Data in the Financial Report

1. Deere's operating income in 2024 was US$51.716 billion, which is more reference value than the data in 2025, helping to observe the trend of income changes.

2. The overall operating income growth rate of the agricultural machinery industry in 2024 was supported by policies, and is expected to maintain growth, especially the recovery of demand for tractors.

3. Deere launched new products such as S7 series combine harvesters and 9RX tractors in 2024, aiming to address key challenges in agriculture.

4. Deere's market share in the US large tractor market is 53%, and 60% in the combine harvester market, showing its market leadership.

Peer Comparison

1. Industry-wide analysis: The agricultural machinery industry may have experienced fluctuations in the past year, affected by global food demand, climate change, and policy support. If the overall operating income growth of the industry, it may indicate that Deere performed well. According to the data, the total purchase and application subsidies of agricultural machinery industry grew by 4% year-on-year, reflecting the potential of market demand.

2. Peer evaluation analysis: Compared with competitors such as Case New Holland, AGCO, etc., Deere needs to pay attention to its operating income performance. If other peer companies grow significantly while Deere fails to maintain growth, it may affect its market share and competitiveness.

Summary

Deere's operating income in the current financial report performed well, although lacking historical data for year-on-year analysis, but through analyzing market demand, new product launches, and policy support, its potential for future revenue growth and opportunities can be seen.

Opportunities

1. With the recovery of agricultural machinery market demand, Deere has the opportunity to enhance its market share through new product launches.

2. Policy support may further stimulate the demand for agricultural machinery, especially in key areas such as tractors.

3. Deere's continued market share advantage provides a guarantee for its future performance growth.

Risks

1. The weak demand for agricultural equipment in 2024 may affect Deere's equipment demand and, in turn, its operating income.

2. Uncertainty in the global economic situation may put pressure on the agricultural machinery industry.

3. Inflation pressure and declining farmer income may have a negative impact on market demand, affecting Deere's future growth.