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How John Deere (DE) makes money: Q3 2026 revenue breakdown
US GAAP · $M · vs Q3 2025 · reported 08/20/2026
John Deere — Deere & Company, is an American corporation that manufactures agricultural machinery, heavy equipment, forestry machinery, diesel engines, drivetrains used in heavy equipment and lawn care equipment. · Wikipedia
More about the company
It also provides financial services and other related activities.
Key growth driver: Construction & Forestry — the fastest-growing revenue line: $3,618, +18% y/y. · by the Q3 2026 report
How does John Deere make money?
John Deere brought in $12.6 billion of revenue in Q3 2026, up 5% year over year. The largest source was Production & Precision Ag: $4.00 billion, or 32% of the total, followed by Construction & Forestry ($3.62B, 29%) and Small Ag & Turf ($3.38B, 27%); other lines add the remaining 13%. Net income for the quarter was $1.38 billion, up 7% year over year.
Revenue by source, Q3 2026
- Production & Precision Ag$4.00B · 32% · −6%
- Construction & Forestry$3.62B · 29% · +18%
- Small Ag & Turf$3.38B · 27% · +12%
- Financial Services revenue$1.37B · 11% · −3%
- Other revenues$238M · 2% · −2%
Shares of $12.6B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is DE’s next earnings date?
Wednesday, November 25, 2026confirmed · before market open
John Deere (DE) is scheduled to report results for the quarter ending Oct 2026 on Nov 25, 2026. Consensus EPS forecast: $4.08 (9 analysts), vs $3.93 in the same quarter last year.
What time does DE report? Usually before market open: the last 4 results releases reached the SEC at 6:00 am, 6:00 am, 6:03 am, 6:00 am ET.
Last report: Aug 20, 2026 (Q3 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$12,608
+5%
Gross profit
$4,669
+5%
margin 37.0%
Operating income
$2,592
+11%
Net income
$1,379
+7%
EPS diluted $5.10
Verdict: a stronger-than-expected quarter with net income up 7% y/y to $1.379B despite flat-to-down large ag, as Small Ag & Turf and Construction & Forestry margin expansion offset continued softness in Production & Precision Ag, prompting management to raise full-year guidance to $4.75-5.00B.
9M operating cash flow $3,250M; buybacks $697M (9M); dividends paid $1,316M (9M, $1.62/sh quarterly); FY2026 net income guidance raised to $4.75B-$5.00B; tariff recoveries of $110M in Q3.
Source and notation
* marks non-cash / ≈ estimated. Source: Deere & Company press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
DE earnings history: past report dates
| Aug 20, 2026 Thu | 6:00 ambefore market open | Aug 2, 2026 | $12.6B+5% y/y | $5.10+7% y/y |
| May 21, 2026 Thu | 6:00 ambefore market open | May 3, 2026 | $13.4B+5% y/y | $6.55−1% y/y |
| Feb 19, 2026 Thu | 6:03 ambefore market open | Feb 1, 2026 | $9.6B+13% y/y | $2.42−24% y/y |
| Nov 26, 2025 Wed | 6:00 ambefore market open | Nov 2, 2025 | ≈$12.4B+11% y/y | ≈$3.92−14% y/y |
| Aug 14, 2025 Thu | 6:00 ambefore market open | Jul 27, 2025 | $12.0B−9% y/y | $4.75−24% y/y |
| May 15, 2025 Thu | 6:00 ambefore market open | Apr 27, 2025 | $12.8B−16% y/y | $6.64−22% y/y |
| Feb 13, 2025 Thu | 6:00 ambefore market open | Jan 26, 2025 | $8.5B−30% y/y | $3.19−49% y/y |
| Nov 21, 2024 Thu | 6:00 ambefore market open | Oct 27, 2024 | ≈$11.1B−28% y/y | ≈$4.57−44% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
John Deere: 5-year financials
| FY2025 | 45,684 | — | 5,027 | 6,099 | 1,720 |
| FY2024 | 51,716 | 9,039 | 7,100 | 7,591 | 1,605 |
| FY2023 | 61,251 | 12,958 | 10,166 | 7,091 | 1,427 |
| FY2022 | 52,577 | 9,508 | 7,131 | 3,565 | 1,313 |
| FY2021 | 44,024 | 8,012 | 5,963 | 6,878 | 1,040 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP); the company’s fiscal year doesn’t match the calendar year so years follow the company’s own labels.
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Dec 2025FY2025 10-K cover: a single share class — Common stock, $1 par (NYSE: DE). sec.gov ↗
- Dec 2025Diluted share count −14.2% over FY2020–FY2025; SBC of $151M = 0.3% of revenue; buybacks of $7.2B in FY2023 (XBRL). data.sec.gov ↗
- Dec 2025The per-share dividend rose from $3.04 (FY2020) to $6.48 (FY2025) (XBRL). data.sec.gov ↗
- Dec 2025Legal Proceedings in the 10-K: FTC and state suits over right to repair and routine disputes; no shareholder disclosure suits or SEC accounting cases. sec.gov ↗
Scoring: 2.0 with no deductions = 2.0 (single share class, shares −14% over 5 years, dividend rising, no shareholder suits or SEC disclosure cases; the 2024 SEC FCPA case is not a deduction)
- Share classes
- Single class of common stock (10-K cover: Common stock $1 par, NYSE).
- Dilution
- Diluted shares −14.2% over FY2020–FY2025, SBC 0.3% of revenue; buybacks of $18.5B over FY2021–FY2025.
- Disclosure
- Full 10-K/10-Q reporting.
- Dividends
- Per-share dividend $3.04 (FY2020) → $6.48 (FY2025); in 2015–2017 it was held at $2.40 without a cut.
- Lawsuits & regulators
- FTC and state "right to repair" suits are not about disclosure to investors; the 2024 SEC FCPA settlement (subsidiary Wirtgen in Thailand) is not a deduction under the methodology; no shareholder suits.
- Related parties
- No reportable related-party transactions in the 2026 proxy.
How the score works · checked as of Sep 2026
John Deere (DE) earnings: FAQ
How does John Deere make money?
John Deere brought in $12.6 billion of revenue in Q3 2026, up 5% year over year. The largest source was Production & Precision Ag: $4.00 billion, or 32% of the total, followed by Construction & Forestry ($3.62B, 29%) and Small Ag & Turf ($3.38B, 27%); other lines add the remaining 13%. Net income for the quarter was $1.38 billion, up 7% year over year.
When is DE's next earnings date?
John Deere (DE) is scheduled to report on Nov 25, 2026, before market open.
What time does DE report earnings?
John Deere is scheduled to report before market open on Nov 25, 2026. Its last results releases were filed before market open, most recently at 6:00 am ET on Aug 20, 2026.
When did DE last report earnings?
John Deere reported Q3 2026 results on Aug 20, 2026.
What is the EPS estimate for DE's next earnings?
The consensus EPS forecast is $4.08 (9 analysts), vs $3.93 in the same quarter last year.
Where can I find John Deere's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to DE's filings; this page breaks the latest report down in a Sankey chart.
What was DE's net income in Q3 2026?
John Deere reported net income of $1,379M for Q3 2026 (+7% year over year), under US GAAP.
Does John Deere pay dividends?
Yes. In fiscal 2025, John Deere paid $1,720M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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