DE FY 2020 Earnings Report — Deere & Company Revenue & Financial Results | Market Cap Arena

Deere & CompanyDE

FY 2020 Earnings

Reported December 17, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$34.7B	—	$38.4B	—	-9.5%
Op. Income	$4.4B	—	$4.8B	—	-9.6%
Gross Margin	31.3%	—	29.6%	—	1.7pp
Net Margin	7.9%	—	8.5%	—	-0.6pp
EPS (Diluted)	$8.69	—	$10.15	—	-14.4%
Free Cash Flow	$4.8B	—	-$37M	—	13145.9%

Revenue Flow

Item	Amount
REVENUE	$34.7B
Cost of Revenue	$23.9B
GROSS PROFIT	$10.9B
R&D Expenses	$1.6B
Selling & Marketing	$0
General & Administrative	$3.4B
SG&A Expenses	$3.4B
Other Expenses	$1.4B
Operating Expenses	$6.5B
Cost & Expenses	$30.4B
OPERATING INCOME	$4.4B
Interest Income	$0
Interest Expense	$1.2B
Other Income/Expenses	-$533M
INCOME BEFORE TAX	$3.8B
Income Tax Expense	$1.1B
Net Income from Continuing Ops	$2.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.8B
D&A	$2.1B
EBIT	$5.1B
EBITDA	$7.2B
EPS	$9
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$34.7B
Cost of Revenue	$23.9B
GROSS PROFIT	$10.9B
R&D Expenses	$1.6B
Selling & Marketing	$0
General & Administrative	$3.4B
SG&A Expenses	$3.4B
Other Expenses	$1.4B
Operating Expenses	$6.5B
Cost & Expenses	$30.4B
OPERATING INCOME	$4.4B
Interest Income	$0
Interest Expense	$1.2B
Other Income/Expenses	-$533M
INCOME BEFORE TAX	$3.8B
Income Tax Expense	$1.1B
Net Income from Continuing Ops	$2.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.8B
D&A	$2.1B
EBIT	$5.1B
EBITDA	$7.2B
EPS	$9
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$2.8B
Depreciation & Amortization	$2.1B
Stock-Based Compensation	$81M
Deferred Income Tax	-$11M
Other Non-Cash Items	$672M
Change in Working Capital	$1.9B
OPERATING CASH FLOW	$7.5B
Capital Expenditure	-$2.7B
Acquisitions (Net)	-$66M
Purchases of Investments	-$130M
Sales/Maturities of Investments	$93M
Other Investing Activities	-$560M
NET CASH FROM INVESTING	-$3.3B
Net Debt Issuance	$528M
Common Stock Repurchased	-$750M
Common Dividends Paid	-$956M
Other Financing Activities	-$133M
NET CASH FROM FINANCING	-$980M
FREE CASH FLOW	$4.8B
Net Change in Cash	$3.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$7.1B
Short-Term Investments	$641M
Net Receivables	$38.7B
Inventory	$5.0B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$51.4B
PP&E (Net)	$13.1B
Goodwill	$3.1B
Intangible Assets	$1.3B
Long-Term Investments	$193M
Tax Assets	$1.5B
Other Non-Current Assets	$4.5B
TOTAL NON-CURRENT ASSETS	$23.7B
TOTAL ASSETS	$75.1B
Account Payables	$1.9B
Short-Term Debt	$13.2B
Deferred Revenue	$1.6B
Other Current Liabilities	$60M
TOTAL CURRENT LIABILITIES	$22.4B
Long-Term Debt	$32.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$519M
Other Non-Current Liabilities	$6.5B
TOTAL NON-CURRENT LIABILITIES	$39.8B
TOTAL LIABILITIES	$62.1B
Common Stock	$4.9B
Additional Paid-In Capital	$0
Retained Earnings	$31.6B
Treasury Stock	-$18.1B
Accum. Other Comp. Income	-$5.5B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$12.9B
Minority Interest	$7M
TOTAL EQUITY	$12.9B
TOTAL LIABILITIES & EQUITY	$75.1B
Total Debt	$46.3B
Net Debt	$39.2B