Deere & Company (NYSE: $DE), also known as John Deere, is a leading global manufacturer of construction, agricultural, and forestry equipment. The company also offers credit, financial, and insurance services, and manufactures components for marine and industrial equipment.
On Wednesday, November 26, 2025, John Deere released its Q4 fiscal 2025 results. Let us take a deep dive into those results.
Deere & Company Q4 Results
For the fourth quarter, Deere & Company reported an EPS of $3.93, above estimates of $3.85. Its revenue in the quarter came in at $12.4 billion, beating estimates of $9.82 billion, and an 11% YoY increase.
Other Financial Highlights
For the full year, net income was $5.03 billion or $18.50 per share, compared to $7.10 billion or $25.62 billion in fiscal 2024. Full-year revenue was down 12% to $45.68 billion. Meanwhile, Q4 net sales came in at $10.58 billion compared to $9.28 billion last year. For the full year, net sales came in at $38.92 billion, compared to $44.76 billion in fiscal 2024.
Commenting on the results, John Deere CEO John May stated, “This past year brought its share of challenges and uncertainty, but thanks to the structural improvements we’ve made and the diverse customer segments and geographies we serve, we were able to achieve our best results yet for this point in the cycle.”
The company paid out a dividend of $1.62 for Q4, an increase from the $.147 paid in Q4 fiscal 2024. For the full year, the dividend payout was $6.33 compared to $5.76 in fiscal 2024.
John Deere Outlook
For fiscal 2026, John Deere expects net income of $4 billion to $4.75 billion. The CEO stated that they expect 2026 to mark the bottom of the large agriculture cycle. He added that there was margin pressure due to tariffs and challenges in the large agriculture sector. However, he was hopeful the company was well-positioned to seize emerging opportunities in small agriculture, turf, forestry, and construction as market opportunities start to recover.
Market Performance
Despite the revenue and earnings beat, Deere & Company ($DE) shares sank 5.66%, a few minutes before the closing bell, to $469.9. Year to date, the stock is up 10.91%, compared to gains of 17%+ as of Tuesday’s closing bell. Over the past 12 months, the stock is up 1.93%, while over the past six months, the stock has dipped 7.87%.
The dip in $DE stock is attributed to apprehension about its outlook. It is especially so due to comments by the CEO about the expected drop in large agriculture sales in 2026. However, it is still within its 52-week range with a high of $533.78 and a low of $403.01.
Analysts are cautiously optimistic about the future of Deere &Company ($DE). They give the stock an average moderate buy rating, with an average price target of $515.58, which is a 9.78% upside based on the most recent price. The analysts forecast a wide range of prices for the stock, with a high of $609 and a low of $440.
Is Now The Time To Buy $DE?
Despite the Q beat, investors are not thrilled about its future. It is especially so when you consider that analysts had forecast an EPS of $19.32 in 2206, which means its guidance is 9% miss. Additionally, $DE stock has a trailing P/E ratio of 26.01, which is considered pricey. However, for dividend investors, adding $DE could still potentially be a great move. Coupled with growth in the small ag sector, there is still cause for potentially cautious optimism.
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