John Deere

John Deere (NYSE: DE), officially known as Deere & Co., is deemed to be the world’s largest manufacturer of agricultural machinery, with a ~25% market share (2022). The US-based multinational corporation was founded in 1837. It generated revenue of USD 61.3 billion in FY2023 (year ended 30 October).

John Deere operates through four business segments. The Production and Precision Agriculture segment specializes in manufacturing heavy-duty machinery, including tractors, combines, cotton pickers, and sugarcane harvesters. The Small Agriculture and Turf segment focuses on specialty, mid-size, and compact tractors, alongside lawnmowers and utility vehicles. In the Construction and Forestry segment, the company makes and sells equipment for earthmoving, forestry, and roadbuilding applications. Alongside its machinery portfolio, John Deere provides related attachments and components as well as tailored technology solutions for the respective industries. Moreover, it offers financing and leasing options for both new and pre-owned equipment through its Financial Services segment.

The US is John Deere’s single largest market (~54% of its FY2023 revenue). Latin America (~14%) and Western Europe (~12%) are the other key markets. The company targets a long-term operating profit margin of 20% by 2030 (21.2%% in FY2023) and sees a USD 150 billion incremental market opportunity in electrification and connected machinery. It also plans to halve operational emissions by 2030 (from a 2021 baseline).