--- title: Deere (DE) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/de ticker: DE as_of: 2026-10-17 sector: Industrials industry: Agricultural - Machinery --- # Deere (DE) Deere (DE) closed at $641.86 on Oct 16, 2026, overvalued by 80% vs its model value of $357.05 (from a five-year discounted cash flow). ## Key figures | Figure | Value | | --- | ---: | | Last close | $641.86 (Oct 16, 2026) | | Model value (from a five-year discounted cash flow) | $357.05 | | Price vs model | overvalued by 80% vs model | | Range of that model | $250.00 – $640.72 | | Market value | $173.1B | | P/E (fiscal 2025) | 34.7 | | Net margin (fiscal 2025) | 11.3% | | Free cash flow (fiscal 2025) | $6.1B | | Dividend yield (trailing twelve months) | 1.01% | | Beta | 0.87 | | Cost of capital (WACC) | 9.10% | | Business classification | Cyclical (Revenue declining (~-14% recent), Moderate margins (11% net margin), Highly cyclical earnings) | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 1.01% | | Dividends per share, last 12 months | $6.48 | | Dividends / free cash flow (fiscal 2025) | 28.2% | | Raised | 5 years in a row | | Growth over 5 years | 12.4% a year | | Latest payment | $1.62, ex-date Sep 30, 2026, paid Nov 9, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Sep 29, 2021 | $3.61 | | To Sep 29, 2022 | $4.36 | | To Sep 28, 2023 | $5.05 | | To Sep 30, 2024 | $5.88 | | To Sep 30, 2025 | $6.48 | | Trailing twelve months (to Sep 30, 2026) | $6.48 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | DCF · Perpetuity growth · 5y | primary | $357.05 | $250.00 | $640.72 | | DCF · Perpetuity growth · 10y | cross check | $399.72 | $284.64 | $699.87 | | DCF · EBITDA exit · 5y | cross check | $387.29 | $256.01 | $542.21 | | DCF · EBITDA exit · 10y | cross check | $425.57 | $289.38 | $608.19 | | P/E · peers | cross check | $371.17 | $357.49 | $450.22 | | P/E · own history | cross check | $335.11 | $294.81 | $370.72 | | PEG | sanity check | $264.13 | $264.13 | $264.13 | | EV/EBITDA · peers | cross check | $674.00 | $641.22 | $710.31 | | EV/Revenue · peers | cross check | $398.71 | $398.39 | $405.96 | | Earnings power value | cross check | $179.01 | $150.81 | $218.33 | | Dividend discount | cross check | $175.28 | $121.52 | $259.58 | ## Insider activity (SEC Form 4) Past 90 days: 0 open-market buys ($0) and 20 open-market sales ($23.4M); 10b5-1 plan sales included. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Aug 31, 2026 | CAMPBELL RYAN D | Pres WWC&F and Pwr Systems | Option/RSU exercise (10b5-1 plan) | 1,079 | $274,961.6 | | Aug 31, 2026 | CAMPBELL RYAN D | Pres WWC&F and Pwr Systems | Option/RSU exercise (10b5-1 plan) | 1,775 | $610,493.5 | | Aug 31, 2026 | CAMPBELL RYAN D | Pres WWC&F and Pwr Systems | Option/RSU exercise (10b5-1 plan) | 1,049 | $459,923.6 | | Aug 31, 2026 | CAMPBELL RYAN D | Pres WWC&F and Pwr Systems | Option/RSU exercise (10b5-1 plan) | 957 | $360,798.6 | | Aug 31, 2026 | CAMPBELL RYAN D | Pres WWC&F and Pwr Systems | Open-market sell (10b5-1 plan) | 2,929 | $1.9M | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Aug 27, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/315189/000110465926102213/de-20260802x10q.htm | | Aug 20, 2026 | 8-K | 2.02 Results of Operations (Earnings); 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/315189/000110465926098904/de-20260820x8k.htm | | Jul 15, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/315189/000110465926083910/de-20260710x8k.htm | | Jun 17, 2026 | S-3ASR | Shelf registration (automatic) | https://www.sec.gov/Archives/edgar/data/315189/000110465926075222/tm2617548d1_s3asr.htm | | Jun 1, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers | https://www.sec.gov/Archives/edgar/data/315189/000110465926068930/de-20260526x8k.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | Gates | 2026-06-30 | 3,557,378 | $2.3B | | Thomas Gayner | 2026-06-30 | 877,900 | $556.9M | | First Eagle | 2026-06-30 | 536,879 | $340.6M | | Bill Nygren | 2026-06-30 | 313,034 | $198.6M | 8 tracked managers in all. ## About Deere & Company is a global manufacturer and distributor of a wide range of equipment. The company's operations are organized into four primary business segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment focuses on large-scale farming and advanced agricultural practices, offering medium-sized tractors, various harvesting machinery (including combines, cotton pickers, and sugarcane harvesters), front-end harvesting tools, sugarcane loaders, pull-behind scrapers, and essential tillage and seeding implements. It also supplies specialized application equipment like sprayers and nutrient management systems, along with soil preparation machinery, primarily serving grain growers. The Small Agriculture and Turf segment caters to smaller farming needs and land maintenance.… --- Source: https://sweetvaluelab.com/stocks/de (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.