DE FY 2022 Earnings Report — Deere & Company Revenue & Financial Results | Market Cap Arena

Deere & CompanyDE

FY 2022 Earnings

Reported December 15, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$51.3B	—	$43.0B	—	19.2%
Op. Income	$9.0B	—	$7.7B	—	17.8%
Gross Margin	30.7%	—	31.9%	—	-1.2pp
Net Margin	13.9%	—	13.9%	—	0.0pp
EPS (Diluted)	$23.28	—	$18.99	—	22.6%
Free Cash Flow	$911M	—	$5.1B	—	-82.3%

Revenue Flow

Item	Amount
REVENUE	$51.3B
Cost of Revenue	$35.6B
GROSS PROFIT	$15.7B
R&D Expenses	$1.9B
Selling & Marketing	$0
General & Administrative	$3.6B
SG&A Expenses	$3.6B
Other Expenses	$1.1B
Operating Expenses	$6.7B
Cost & Expenses	$42.3B
OPERATING INCOME	$9.0B
Interest Income	$0
Interest Expense	$1.1B
Other Income/Expenses	$111M
INCOME BEFORE TAX	$9.1B
Income Tax Expense	$2.0B
Net Income from Continuing Ops	$7.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7.1B
D&A	$1.9B
EBIT	$10.2B
EBITDA	$12.1B
EPS	$23
EPS Diluted	$23

Income Statement

Item	Amount
REVENUE	$51.3B
Cost of Revenue	$35.6B
GROSS PROFIT	$15.7B
R&D Expenses	$1.9B
Selling & Marketing	$0
General & Administrative	$3.6B
SG&A Expenses	$3.6B
Other Expenses	$1.1B
Operating Expenses	$6.7B
Cost & Expenses	$42.3B
OPERATING INCOME	$9.0B
Interest Income	$0
Interest Expense	$1.1B
Other Income/Expenses	$111M
INCOME BEFORE TAX	$9.1B
Income Tax Expense	$2.0B
Net Income from Continuing Ops	$7.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7.1B
D&A	$1.9B
EBIT	$10.2B
EBITDA	$12.1B
EPS	$23
EPS Diluted	$23

Cash Flow Statement

Item	Amount
Net Income	$7.1B
Depreciation & Amortization	$1.9B
Stock-Based Compensation	$85M
Deferred Income Tax	-$66M
Other Non-Cash Items	-$30M
Change in Working Capital	-$4.3B
OPERATING CASH FLOW	$4.7B
Capital Expenditure	-$3.8B
Acquisitions (Net)	-$498M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$4.2B
NET CASH FROM INVESTING	-$8.5B
Net Debt Issuance	$5.8B
Common Stock Repurchased	-$3.6B
Common Dividends Paid	-$1.3B
Other Financing Activities	-$92M
NET CASH FROM FINANCING	$826M
FREE CASH FLOW	$911M
Net Change in Cash	-$3.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$4.8B
Short-Term Investments	$734M
Net Receivables	$49.0B
Inventory	$8.5B
Other Current Assets	$876M
TOTAL CURRENT ASSETS	$64.1B
PP&E (Net)	$13.1B
Goodwill	$3.7B
Intangible Assets	$1.6B
Long-Term Investments	$117M
Tax Assets	$824M
Other Non-Current Assets	$6.6B
TOTAL NON-CURRENT ASSETS	$25.9B
TOTAL ASSETS	$90.0B
Account Payables	$3.9B
Short-Term Debt	$18.3B
Deferred Revenue	$956M
Other Current Liabilities	$1.3B
TOTAL CURRENT LIABILITIES	$31.7B
Long-Term Debt	$33.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$495M
Other Non-Current Liabilities	$3.9B
TOTAL NON-CURRENT LIABILITIES	$38.0B
TOTAL LIABILITIES	$69.7B
Common Stock	$5.2B
Additional Paid-In Capital	$0
Retained Earnings	$42.2B
Treasury Stock	-$24.1B
Accum. Other Comp. Income	-$3.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$20.3B
Minority Interest	$95M
TOTAL EQUITY	$20.4B
TOTAL LIABILITIES & EQUITY	$90.0B
Total Debt	$52.2B
Net Debt	$47.4B