DE FY 2019 Earnings Report — Deere & Company Revenue & Financial Results | Market Cap Arena

Deere & CompanyDE

FY 2019 Earnings

Reported December 19, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$38.4B	—	$36.5B	—	5.3%
Op. Income	$4.8B	—	$4.4B	—	10.5%
Gross Margin	29.6%	—	29.3%	—	0.3pp
Net Margin	8.5%	—	6.5%	—	2.0pp
EPS (Diluted)	$10.15	—	$7.24	—	40.2%
Free Cash Flow	-$37M	—	-$1.1B	—	96.7%

Revenue Flow

Item	Amount
REVENUE	$38.4B
Cost of Revenue	$27.0B
GROSS PROFIT	$11.4B
R&D Expenses	$1.8B
Selling & Marketing	$0
General & Administrative	$3.5B
SG&A Expenses	$3.5B
Other Expenses	$1.3B
Operating Expenses	$6.5B
Cost & Expenses	$33.5B
OPERATING INCOME	$4.8B
Interest Income	$0
Interest Expense	$1.5B
Other Income/Expenses	-$725M
INCOME BEFORE TAX	$4.1B
Income Tax Expense	$852M
Net Income from Continuing Ops	$3.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.3B
D&A	$2.0B
EBIT	$5.6B
EBITDA	$7.6B
EPS	$10
EPS Diluted	$10

Income Statement

Item	Amount
REVENUE	$38.4B
Cost of Revenue	$27.0B
GROSS PROFIT	$11.4B
R&D Expenses	$1.8B
Selling & Marketing	$0
General & Administrative	$3.5B
SG&A Expenses	$3.5B
Other Expenses	$1.3B
Operating Expenses	$6.5B
Cost & Expenses	$33.5B
OPERATING INCOME	$4.8B
Interest Income	$0
Interest Expense	$1.5B
Other Income/Expenses	-$725M
INCOME BEFORE TAX	$4.1B
Income Tax Expense	$852M
Net Income from Continuing Ops	$3.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.3B
D&A	$2.0B
EBIT	$5.6B
EBITDA	$7.6B
EPS	$10
EPS Diluted	$10

Cash Flow Statement

Item	Amount
Net Income	$3.3B
Depreciation & Amortization	$2.0B
Stock-Based Compensation	$82M
Deferred Income Tax	-$465M
Other Non-Cash Items	$182M
Change in Working Capital	-$1.7B
OPERATING CASH FLOW	$3.4B
Capital Expenditure	-$3.4B
Acquisitions (Net)	$93M
Purchases of Investments	-$140M
Sales/Maturities of Investments	$89M
Other Investing Activities	-$517M
NET CASH FROM INVESTING	-$3.9B
Net Debt Issuance	$2.6B
Common Stock Repurchased	-$1.3B
Common Dividends Paid	-$943M
Other Financing Activities	-$116M
NET CASH FROM FINANCING	$509M
FREE CASH FLOW	-$37M
Net Change in Cash	-$59M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.9B
Short-Term Investments	$581M
Net Receivables	$38.9B
Inventory	$6.0B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$49.3B
PP&E (Net)	$13.5B
Goodwill	$2.9B
Intangible Assets	$1.4B
Long-Term Investments	$215M
Tax Assets	$1.5B
Other Non-Current Assets	$4.2B
TOTAL NON-CURRENT ASSETS	$23.7B
TOTAL ASSETS	$73.0B
Account Payables	$2.0B
Short-Term Debt	$15.1B
Deferred Revenue	$1.6B
Other Current Liabilities	$61M
TOTAL CURRENT LIABILITIES	$23.9B
Long-Term Debt	$30.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$495M
Other Non-Current Liabilities	$7.0B
TOTAL NON-CURRENT LIABILITIES	$37.7B
TOTAL LIABILITIES	$61.6B
Common Stock	$4.6B
Additional Paid-In Capital	$0
Retained Earnings	$29.9B
Treasury Stock	-$17.5B
Accum. Other Comp. Income	-$5.6B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$11.4B
Minority Interest	$18M
TOTAL EQUITY	$11.4B
TOTAL LIABILITIES & EQUITY	$73.0B
Total Debt	$45.3B
Net Debt	$41.5B