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Robotics·DE

Deere & Company

NYSE · US

Agricultural and construction equipment manufacturer with autonomy and precision technology platforms.

AI relevance

Autonomous machinery and industrial robot deployment exposure in outdoor work and manufacturing.

Robotics Industrial OEM

Price

$639.67

Change

+18.73 (+3.02%)

Market cap

$172.7B

52w range

$433–$674

Exchange

NYSE

Country

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Price chart

DE market performance

Daily close for Deere & Company

Latest close: $638.2
Range move: +$151.5 (+31.1%)
Range high: $662.5
Range low: $439.1
Latest volume: 1.1M
Source: FMP EOD

Downloads

Exports

Download statements, ratios, chart data, and transcript indexes.

CSV

Income statement

12 annual rows

Revenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.

Annual

Balance sheet

12 annual rows

Cash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.

Annual

Cash flow

12 annual rows

Operating cash flow, capital expenditures, and free cash flow.

Annual

Key metrics

12 annual rows

Enterprise value, valuation multiples, returns, yields, and cash conversion.

Annual

Ratios

12 annual rows

Margins, liquidity ratios, valuation ratios, leverage, and per-share metrics.

Annual

Chart data

1255 rows

Five years of daily close and volume data powering the company chart.

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Transcript list

77 rows

Available earnings-call transcript dates by fiscal year and quarter.

Download

StreetHold

Analyst expectations

Consensus target

$682.25

+6.7%

Target range

$550.00 - $812.00

Rating mix

Hold

46 ratings

Next FY revenue

$41.62B

2026-11-02

Next FY EPS

$18.10

$17.49 - $18.63

Rating consensus46 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-11-02	$41.62B	$41.28B - $41.86B	$18.10	$17.49 - $18.63	$11.03B	$9.28B	$4.85B	$3.34B	4 rev / 12 EPS
2027-11-02	$44.85B	$43.58B - $46.24B	$22.37	$20.32 - $23.70	$11.88B	$10.00B	$6.00B	$3.60B	12 rev / 17 EPS
2028-11-02	$48.89B	$45.22B - $51.51B	$26.58	$20.83 - $34.98	$12.95B	$10.90B	$7.48B	$3.92B	8 rev / 12 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-11-02	$10.88B	$10.59B - $11.03B	$4.42	$4.19 - $4.63	$2.88B	$2.42B	$1.20B	$872.6M	3 rev / 8 EPS
2027-02-02	$8.75B	$8.38B - $9.32B	$3.34	$2.33 - $4.25	$2.32B	$1.95B	$903.7M	$702.3M	6 rev / 10 EPS
2027-05-02	$12.85B	$12.56B - $13.17B	$7.13	$6.92 - $7.36	$3.40B	$2.87B	$1.93B	$1.03B	5 rev / 4 EPS
2027-08-02	$11.79B	$11.51B - $12.08B	$5.99	$5.81 - $6.18	$3.12B	$2.63B	$1.62B	$945.5M	5 rev / 4 EPS
2027-11-02	$11.64B	$11.37B - $11.93B	$5.43	$5.27 - $5.61	$3.08B	$2.60B	$1.47B	$933.8M	5 rev / 4 EPS
2028-02-02	$9.73B	$9.51B - $9.97B	$4.55	$4.41 - $4.69	$2.58B	$2.17B	$1.23B	$780.6M	2 rev / 5 EPS
2028-05-02	$13.34B	$13.03B - $13.67B	$8.53	$8.28 - $8.80	$3.53B	$2.97B	$2.31B	$1.07B	2 rev / 5 EPS
2028-08-02	$12.26B	$11.98B - $12.56B	$7.07	$6.86 - $7.29	$3.25B	$2.73B	$1.91B	$983.7M	2 rev / 5 EPS

Price target history

Window	Targets	Average target
Last month	4	$630.75
Last quarter	8	$681.50
Last year	31	$636.94
All time	90	$507.76

Sources: StreetInsider, TheFly, Benzinga, Pulse 2.0

Latest grade actions

Date	Firm	Action	Previous	New
2026-08-21	UBS	Maintain	Buy	Buy
2026-08-21	JP Morgan	Maintain	Neutral	Neutral
2026-08-21	Baird	Maintain	Neutral	Neutral
2026-08-21	Oppenheimer	Maintain	Outperform	Outperform
2026-08-14	JP Morgan	Maintain	Neutral	Neutral
2026-08-11	Evercore ISI Group	Maintain	In Line	In Line
2026-07-17	DA Davidson	Maintain	Buy	Buy
2026-07-14	Citigroup	Maintain	Neutral	Neutral

Historical rating snapshots

Date	Strong buy	Buy	Hold	Sell	Strong sell
2026-08-01	5	8	11	0	0
2026-07-01	5	8	11	0	0
2026-06-01	5	8	11	0	0
2026-05-01	5	8	11	0	0
2026-04-01	5	8	12	1	0
2026-03-01	5	8	11	1	0
2026-02-01	5	8	12	1	1
2026-01-01	6	8	12	0	0

FinancialsFY 2025

Financials

Revenue

$44.66B

Gross margin

36.5%

Operating income

$8.42B

Free cash flow

$3.23B

Cash + ST investments

$9.69B

Net debt

$55.66B

ROE

19.4%

ROIC

7.1%

EV / sales

4.0x

EV / EBITDA

15.5x

R&D / revenue

5.2%

Current ratio

2.3x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$44.66B	$16.30B	36.5%	$2.31B	$8.42B	$11.66B	$5.03B	$18.56
FY 2024	$50.52B	$19.50B	38.6%	$2.29B	$11.43B	$14.67B	$7.10B	$25.72
FY 2023	$60.25B	$22.31B	37.0%	$2.18B	$14.59B	$17.48B	$10.17B	$34.80
FY 2022	$51.28B	$15.73B	30.7%	$1.91B	$9.03B	$12.08B	$7.13B	$23.42
FY 2021	$43.03B	$13.71B	31.9%	$1.59B	$7.66B	$10.64B	$5.96B	$19.14
FY 2020	$34.72B	$10.86B	31.3%	$1.64B	$4.37B	$7.25B	$2.75B	$8.77
FY 2019	$38.38B	$11.36B	29.6%	$1.78B	$4.83B	$7.57B	$3.25B	$10.28
FY 2018	$36.46B	$10.68B	29.3%	$1.66B	$4.38B	$7.20B	$2.37B	$7.34
FY 2017	$28.62B	$8.58B	30.0%	$1.37B	$2.93B	$5.77B	$2.16B	$6.76
FY 2016	$25.90B	$7.54B	29.1%	$1.39B	$2.24B	$4.55B	$1.52B	$4.83
FY 2015	$28.16B	$7.85B	27.9%	$1.43B	$2.75B	$4.84B	$1.94B	$5.81
FY 2014	$35.24B	$10.32B	29.3%	$1.45B	$4.64B	$6.77B	$3.16B	$8.71

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$7.46B	$4.23B	$3.23B
FY 2024	$9.23B	$4.80B	$4.43B
FY 2023	$8.59B	$4.47B	$4.12B
FY 2022	$4.70B	$3.79B	$911.0M
FY 2021	$7.73B	$2.58B	$5.15B
FY 2020	$7.48B	$2.66B	$4.83B
FY 2019	$3.41B	$3.45B	-$37.0M
FY 2018	$1.82B	$2.95B	-$1.13B
FY 2017	$2.20B	$2.59B	-$392.5M
FY 2016	$3.76B	$2.96B	$809.2M
FY 2015	$3.74B	$2.83B	$914.2M
FY 2014	$3.53B	$2.66B	$866.6M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$9.69B	$57.12B	$7.51B	$16.15B	$106.00B	$63.94B	$55.66B	$79.99B	$25.95B
FY 2024	$8.48B	$58.36B	$7.20B	$15.45B	$107.32B	$65.46B	$58.14B	$84.39B	$22.84B
FY 2023	$8.40B	$58.75B	$8.22B	$14.21B	$104.09B	$63.69B	$56.23B	$82.20B	$21.79B
FY 2022	$5.51B	$48.98B	$8.54B	$13.10B	$90.03B	$52.20B	$47.43B	$69.67B	$20.26B
FY 2021	$8.74B	$42.69B	$6.84B	$13.21B	$84.11B	$48.73B	$40.71B	$65.68B	$18.43B
FY 2020	$7.71B	$38.66B	$5.00B	$13.12B	$75.09B	$46.30B	$39.23B	$62.15B	$12.94B
FY 2019	$4.44B	$38.85B	$5.97B	$13.54B	$73.01B	$45.33B	$41.48B	$61.58B	$11.41B
FY 2018	$4.39B	$36.10B	$6.15B	$13.03B	$70.11B	$42.26B	$38.35B	$58.80B	$11.29B
FY 2017	$9.79B	$33.22B	$3.90B	$11.66B	$65.79B	$40.04B	$30.71B	$56.21B	$9.56B
FY 2016	$4.79B	$31.86B	$3.34B	$11.07B	$57.92B	$35.61B	$31.28B	$51.37B	$6.52B
FY 2015	$4.60B	$32.73B	$3.82B	$10.15B	$57.95B	$36.85B	$32.69B	$51.19B	$6.74B
FY 2014	$5.00B	$35.33B	$4.21B	$9.59B	$61.34B	$36.96B	$33.17B	$52.27B	$9.06B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	36.5%	18.8%	11.3%	2.3x	2.1x	19.4%	7.1%	4.0x	15.5x	2.6%	5.2%	525d
FY 2024	38.6%	22.6%	14.1%	2.1x	1.9x	31.1%	9.5%	3.4x	11.7x	3.9%	4.5%	475d
FY 2023	37.0%	24.2%	16.9%	2.0x	1.8x	46.7%	12.6%	2.7x	9.4x	3.8%	3.6%	402d
FY 2022	30.7%	17.6%	13.9%	2.0x	1.8x	35.2%	9.2%	3.3x	13.9x	0.8%	3.7%	396d
FY 2021	31.9%	17.8%	13.9%	2.2x	2.0x	32.4%	8.1%	3.5x	14.3x	4.6%	3.7%	408d
FY 2020	31.3%	12.6%	7.9%	2.3x	2.1x	21.3%	4.7%	3.2x	15.4x	6.6%	4.7%	453d
FY 2019	29.6%	12.6%	8.5%	2.1x	1.8x	28.5%	6.0%	2.5x	12.8x	-0.1%	4.6%	423d
FY 2018	29.3%	12.0%	6.5%	1.9x	1.7x	21.0%	4.2%	2.3x	11.4x	-2.6%	4.5%	414d
FY 2017	30.0%	10.2%	7.5%	2.1x	2.0x	22.6%	3.5%	2.6x	12.7x	-0.9%	4.8%	457d
FY 2016	29.1%	8.7%	5.9%	2.2x	2.0x	23.4%	3.0%	2.3x	13.0x	2.9%	5.4%	484d
FY 2015	27.9%	9.8%	6.9%	2.1x	1.9x	28.8%	3.7%	2.1x	12.1x	3.5%	5.1%	467d
FY 2014	29.3%	13.2%	9.0%	2.2x	2.0x	34.9%	5.7%	1.8x	9.5x	2.8%	4.1%	403d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	-11.6%	-16.4%	+0.9%	-26.3%	-29.2%	-27.8%	-27.0%	+12.0%	+14.3%	+4.3%	-1.2%	-2.3%
FY 2024	-16.1%	-12.6%	+5.2%	-21.7%	-30.2%	-26.1%	+7.5%	-7.5%	+0.9%	-12.4%	+3.1%	+2.8%
FY 2023	+17.5%	+41.8%	+13.9%	+61.7%	+42.6%	+48.6%	+352.4%	-18.0%	+52.6%	-3.7%	+15.6%	+22.0%
FY 2022	+19.2%	+14.7%	+20.5%	+17.8%	+19.6%	+22.4%	-82.3%	-46.8%	-37.0%	+24.9%	+7.0%	+7.1%
FY 2021	+23.9%	+26.3%	-3.5%	+75.4%	+116.8%	+118.2%	+6.6%	+2.9%	+13.5%	+36.7%	+12.0%	+5.3%
FY 2020	-9.5%	-4.4%	-7.8%	-9.6%	-15.4%	-14.7%	+13145.9%	+23.0%	+73.7%	-16.3%	+2.8%	+2.1%
FY 2019	+5.3%	+6.4%	+7.5%	+10.5%	+37.4%	+40.1%	+96.7%	-16.9%	+1.0%	-2.8%	+4.1%	+7.3%
FY 2018	+27.4%	+24.4%	+20.8%	+49.2%	+9.7%	+8.6%	-187.8%	-13.8%	-55.1%	+57.5%	+6.6%	+5.5%
FY 2017	+10.5%	+13.8%	-1.5%	+30.7%	+41.7%	+40.0%	-148.5%	+12.3%	+104.3%	+16.9%	+13.6%	+12.4%
FY 2016	-8.0%	-4.0%	-2.2%	-18.6%	-21.4%	-16.9%	-11.5%	-4.6%	+4.1%	-12.5%	-0.1%	-3.4%
FY 2015	-20.1%	-23.9%	-1.9%	-40.6%	-38.6%	-33.3%	+5.5%	-6.3%	-8.0%	-9.3%	-5.5%	-0.3%
FY 2014	-5.0%	-8.7%	-1.7%	-16.3%	-10.6%	-5.1%	-1.4%	-12.0%	-2.5%	-14.7%	+3.0%	+7.2%

SegmentsFY 2025

Revenue Mix

Period	Total	Small Ag & Turf (SAT)	Production & Precision Ag (PPA)	Construction & Forestry (CF)	Small Agriculture	Compact Construction Equipment	Financial Services (FS)	Large Agriculture	Roadbuilding	Financial Products	Construction	Turf	Forestry	Compact Construction	Material Reconciling Items	Other
FY 2025	$44.66B	--	$16.96B	--	$7.21B	$6.49B	--	--	$3.55B	$6.30B	--	$2.73B	$1.12B	--	$1.31B	-$1.02B
FY 2024	$51.72B	--	$20.57B	--	$7.69B	$7.98B	--	--	$3.64B	$6.22B	--	$3.02B	$1.11B	--	--	$1.48B
FY 2023	$50.12B	$7.80B	$13.92B	$9.11B	--	--	$4.72B	--	$3.79B	$58.0M	$6.84B	--	$1.43B	$2.45B	--	--
FY 2022	$3.65B	$10.0M	$19.0M	$1.0M	--	--	$3.63B	--	--	--	--	--	--	--	--	--
FY 2021	$34.04B	$6.50B	$8.22B	$5.70B	--	--	$2.39B	--	$3.75B	$20.0M	$4.68B	--	$1.28B	$1.49B	--	--
FY 2020	$34.72B	--	--	--	$8.10B	$4.79B	--	$11.39B	$2.92B	$3.72B	--	$2.39B	$1.10B	--	$1.13B	-$818.0M
FY 2019	$38.38B	--	--	--	$8.70B	$6.47B	--	$11.73B	$3.19B	$3.75B	--	$2.65B	$1.40B	--	$1.37B	-$879.0M
FY 2018	$36.60B	$23.19B	--	$10.16B	--	--	$3.25B	--	--	--	--	--	--	--	--	--
FY 2017	$28.82B	$20.17B	--	$5.72B	--	--	$2.94B	--	--	--	--	--	--	--	--	--
FY 2016	$26.08B	$18.49B	--	$4.90B	--	--	$2.69B	--	--	--	--	--	--	--	--	--
FY 2015	$28.37B	$19.81B	--	$5.96B	--	--	$2.59B	--	--	--	--	--	--	--	--	--
FY 2014	$35.54B	$26.38B	--	$6.58B	--	--	$2.58B	--	--	--	--	--	--	--	--	--

Period	Total	Segment Geographical Group Domestic	Segment Geographical Group Foreign	United States	UNITED STATES	U [S]	Western Europe	Latin America	Asia, Africa, Oceania, and Middle East	Canada	CANADA	Asia Africa Australia New Zealand And Middle East	C [A]	Asia, Africa, Australia, New Zealand, and Middle East	Central Europe and CIS	Central Europe And Commonwealth Of Independent States	Central Europe and Commonwealth of Independent States
FY 2025	$45.68B	--	--	--	$23.97B	--	$6.55B	$5.61B	$4.24B	--	$3.73B	--	--	--	--	--	$1.57B
FY 2024	$51.72B	--	--	--	$30.24B	--	$6.19B	$5.54B	$4.36B	--	$3.90B	--	--	--	--	--	$1.49B
FY 2023	$61.25B	--	--	$34.10B	--	--	$7.32B	$8.20B	$5.20B	$4.29B	--	--	--	--	$2.14B	--	--
FY 2022	$52.58B	--	--	$28.24B	--	--	$6.34B	$7.34B	--	$3.90B	--	--	--	$4.46B	$2.29B	--	--
FY 2021	$44.02B	$25.83B	$18.20B	--	--	--	--	--	--	--	--	--	--	--	--	--	--
FY 2020	$35.54B	--	--	--	--	$19.00B	$5.33B	$3.02B	--	--	--	$3.73B	$2.39B	--	--	$2.07B	--
FY 2019	$39.26B	--	--	--	--	$20.93B	$5.54B	$3.88B	--	--	--	$3.88B	$2.82B	--	--	$2.21B	--
FY 2018	$36.60B	$21.63B	$14.97B	--	--	--	--	--	--	--	--	--	--	--	--	--	--
FY 2017	$28.82B	$17.56B	$11.26B	--	--	--	--	--	--	--	--	--	--	--	--	--	--
FY 2016	$26.08B	$16.74B	$9.34B	--	--	--	--	--	--	--	--	--	--	--	--	--	--
FY 2015	$28.37B	$18.75B	$9.62B	--	--	--	--	--	--	--	--	--	--	--	--	--	--
FY 2014	$35.54B	$22.39B	$13.15B	--	--	--	--	--	--	--	--	--	--	--	--	--	--

Transcripts

Events

Next earnings

2026-11-25EPS est $4.47

Recent filings

8-K2026-08-20
42026-08-18
8-K2026-07-15

Latest news

DE Q3 Earnings Call Highlights Ag Trough and C&F Strength
Zacks Investment Research · 2026-08-21
Deere Analysts Increase Their Forecasts After Strong Q2 Results
Benzinga · 2026-08-21

Analyst expectations

Consensus target

$682.25

+6.7%

Target range

$550.00 - $812.00

Rating mix

Hold

46 ratings

Next FY revenue

$41.62B

2026-11-02

Next FY EPS

$18.10

$17.49 - $18.63

Rating consensus46 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-11-02	$41.62B	$41.28B - $41.86B	$18.10	$17.49 - $18.63	$11.03B	$9.28B	$4.85B	$3.34B	4 rev / 12 EPS
2027-11-02	$44.85B	$43.58B - $46.24B	$22.37	$20.32 - $23.70	$11.88B	$10.00B	$6.00B	$3.60B	12 rev / 17 EPS
2028-11-02	$48.89B	$45.22B - $51.51B	$26.58	$20.83 - $34.98	$12.95B	$10.90B	$7.48B	$3.92B	8 rev / 12 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-11-02	$10.88B	$10.59B - $11.03B	$4.42	$4.19 - $4.63	$2.88B	$2.42B	$1.20B	$872.6M	3 rev / 8 EPS
2027-02-02	$8.75B	$8.38B - $9.32B	$3.34	$2.33 - $4.25	$2.32B	$1.95B	$903.7M	$702.3M	6 rev / 10 EPS
2027-05-02	$12.85B	$12.56B - $13.17B	$7.13	$6.92 - $7.36	$3.40B	$2.87B	$1.93B	$1.03B	5 rev / 4 EPS
2027-08-02	$11.79B	$11.51B - $12.08B	$5.99	$5.81 - $6.18	$3.12B	$2.63B	$1.62B	$945.5M	5 rev / 4 EPS
2027-11-02	$11.64B	$11.37B - $11.93B	$5.43	$5.27 - $5.61	$3.08B	$2.60B	$1.47B	$933.8M	5 rev / 4 EPS
2028-02-02	$9.73B	$9.51B - $9.97B	$4.55	$4.41 - $4.69	$2.58B	$2.17B	$1.23B	$780.6M	2 rev / 5 EPS
2028-05-02	$13.34B	$13.03B - $13.67B	$8.53	$8.28 - $8.80	$3.53B	$2.97B	$2.31B	$1.07B	2 rev / 5 EPS
2028-08-02	$12.26B	$11.98B - $12.56B	$7.07	$6.86 - $7.29	$3.25B	$2.73B	$1.91B	$983.7M	2 rev / 5 EPS

Price target history

Window	Targets	Average target
Last month	4	$630.75
Last quarter	8	$681.50
Last year	31	$636.94
All time	90	$507.76

Sources: StreetInsider, TheFly, Benzinga, Pulse 2.0

Latest grade actions

Date	Firm	Action	Previous	New
2026-08-21	UBS	Maintain	Buy	Buy
2026-08-21	JP Morgan	Maintain	Neutral	Neutral
2026-08-21	Baird	Maintain	Neutral	Neutral
2026-08-21	Oppenheimer	Maintain	Outperform	Outperform
2026-08-14	JP Morgan	Maintain	Neutral	Neutral
2026-08-11	Evercore ISI Group	Maintain	In Line	In Line
2026-07-17	DA Davidson	Maintain	Buy	Buy
2026-07-14	Citigroup	Maintain	Neutral	Neutral

Historical rating snapshots

Date	Strong buy	Buy	Hold	Sell	Strong sell
2026-08-01	5	8	11	0	0
2026-07-01	5	8	11	0	0
2026-06-01	5	8	11	0	0
2026-05-01	5	8	11	0	0
2026-04-01	5	8	12	1	0
2026-03-01	5	8	11	1	0
2026-02-01	5	8	12	1	1
2026-01-01	6	8	12	0	0

Financials

Revenue

$44.66B

Gross margin

36.5%

Operating income

$8.42B

Free cash flow

$3.23B

Cash + ST investments

$9.69B

Net debt

$55.66B

ROE

19.4%

ROIC

7.1%

EV / sales

4.0x

EV / EBITDA

15.5x

R&D / revenue

5.2%

Current ratio

2.3x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$44.66B	$16.30B	36.5%	$2.31B	$8.42B	$11.66B	$5.03B	$18.56
FY 2024	$50.52B	$19.50B	38.6%	$2.29B	$11.43B	$14.67B	$7.10B	$25.72
FY 2023	$60.25B	$22.31B	37.0%	$2.18B	$14.59B	$17.48B	$10.17B	$34.80
FY 2022	$51.28B	$15.73B	30.7%	$1.91B	$9.03B	$12.08B	$7.13B	$23.42
FY 2021	$43.03B	$13.71B	31.9%	$1.59B	$7.66B	$10.64B	$5.96B	$19.14
FY 2020	$34.72B	$10.86B	31.3%	$1.64B	$4.37B	$7.25B	$2.75B	$8.77
FY 2019	$38.38B	$11.36B	29.6%	$1.78B	$4.83B	$7.57B	$3.25B	$10.28
FY 2018	$36.46B	$10.68B	29.3%	$1.66B	$4.38B	$7.20B	$2.37B	$7.34
FY 2017	$28.62B	$8.58B	30.0%	$1.37B	$2.93B	$5.77B	$2.16B	$6.76
FY 2016	$25.90B	$7.54B	29.1%	$1.39B	$2.24B	$4.55B	$1.52B	$4.83
FY 2015	$28.16B	$7.85B	27.9%	$1.43B	$2.75B	$4.84B	$1.94B	$5.81
FY 2014	$35.24B	$10.32B	29.3%	$1.45B	$4.64B	$6.77B	$3.16B	$8.71

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$7.46B	$4.23B	$3.23B
FY 2024	$9.23B	$4.80B	$4.43B
FY 2023	$8.59B	$4.47B	$4.12B
FY 2022	$4.70B	$3.79B	$911.0M
FY 2021	$7.73B	$2.58B	$5.15B
FY 2020	$7.48B	$2.66B	$4.83B
FY 2019	$3.41B	$3.45B	-$37.0M
FY 2018	$1.82B	$2.95B	-$1.13B
FY 2017	$2.20B	$2.59B	-$392.5M
FY 2016	$3.76B	$2.96B	$809.2M
FY 2015	$3.74B	$2.83B	$914.2M
FY 2014	$3.53B	$2.66B	$866.6M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$9.69B	$57.12B	$7.51B	$16.15B	$106.00B	$63.94B	$55.66B	$79.99B	$25.95B
FY 2024	$8.48B	$58.36B	$7.20B	$15.45B	$107.32B	$65.46B	$58.14B	$84.39B	$22.84B
FY 2023	$8.40B	$58.75B	$8.22B	$14.21B	$104.09B	$63.69B	$56.23B	$82.20B	$21.79B
FY 2022	$5.51B	$48.98B	$8.54B	$13.10B	$90.03B	$52.20B	$47.43B	$69.67B	$20.26B
FY 2021	$8.74B	$42.69B	$6.84B	$13.21B	$84.11B	$48.73B	$40.71B	$65.68B	$18.43B
FY 2020	$7.71B	$38.66B	$5.00B	$13.12B	$75.09B	$46.30B	$39.23B	$62.15B	$12.94B
FY 2019	$4.44B	$38.85B	$5.97B	$13.54B	$73.01B	$45.33B	$41.48B	$61.58B	$11.41B
FY 2018	$4.39B	$36.10B	$6.15B	$13.03B	$70.11B	$42.26B	$38.35B	$58.80B	$11.29B
FY 2017	$9.79B	$33.22B	$3.90B	$11.66B	$65.79B	$40.04B	$30.71B	$56.21B	$9.56B
FY 2016	$4.79B	$31.86B	$3.34B	$11.07B	$57.92B	$35.61B	$31.28B	$51.37B	$6.52B
FY 2015	$4.60B	$32.73B	$3.82B	$10.15B	$57.95B	$36.85B	$32.69B	$51.19B	$6.74B
FY 2014	$5.00B	$35.33B	$4.21B	$9.59B	$61.34B	$36.96B	$33.17B	$52.27B	$9.06B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	36.5%	18.8%	11.3%	2.3x	2.1x	19.4%	7.1%	4.0x	15.5x	2.6%	5.2%	525d
FY 2024	38.6%	22.6%	14.1%	2.1x	1.9x	31.1%	9.5%	3.4x	11.7x	3.9%	4.5%	475d
FY 2023	37.0%	24.2%	16.9%	2.0x	1.8x	46.7%	12.6%	2.7x	9.4x	3.8%	3.6%	402d
FY 2022	30.7%	17.6%	13.9%	2.0x	1.8x	35.2%	9.2%	3.3x	13.9x	0.8%	3.7%	396d
FY 2021	31.9%	17.8%	13.9%	2.2x	2.0x	32.4%	8.1%	3.5x	14.3x	4.6%	3.7%	408d
FY 2020	31.3%	12.6%	7.9%	2.3x	2.1x	21.3%	4.7%	3.2x	15.4x	6.6%	4.7%	453d
FY 2019	29.6%	12.6%	8.5%	2.1x	1.8x	28.5%	6.0%	2.5x	12.8x	-0.1%	4.6%	423d
FY 2018	29.3%	12.0%	6.5%	1.9x	1.7x	21.0%	4.2%	2.3x	11.4x	-2.6%	4.5%	414d
FY 2017	30.0%	10.2%	7.5%	2.1x	2.0x	22.6%	3.5%	2.6x	12.7x	-0.9%	4.8%	457d
FY 2016	29.1%	8.7%	5.9%	2.2x	2.0x	23.4%	3.0%	2.3x	13.0x	2.9%	5.4%	484d
FY 2015	27.9%	9.8%	6.9%	2.1x	1.9x	28.8%	3.7%	2.1x	12.1x	3.5%	5.1%	467d
FY 2014	29.3%	13.2%	9.0%	2.2x	2.0x	34.9%	5.7%	1.8x	9.5x	2.8%	4.1%	403d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	-11.6%	-16.4%	+0.9%	-26.3%	-29.2%	-27.8%	-27.0%	+12.0%	+14.3%	+4.3%	-1.2%	-2.3%
FY 2024	-16.1%	-12.6%	+5.2%	-21.7%	-30.2%	-26.1%	+7.5%	-7.5%	+0.9%	-12.4%	+3.1%	+2.8%
FY 2023	+17.5%	+41.8%	+13.9%	+61.7%	+42.6%	+48.6%	+352.4%	-18.0%	+52.6%	-3.7%	+15.6%	+22.0%
FY 2022	+19.2%	+14.7%	+20.5%	+17.8%	+19.6%	+22.4%	-82.3%	-46.8%	-37.0%	+24.9%	+7.0%	+7.1%
FY 2021	+23.9%	+26.3%	-3.5%	+75.4%	+116.8%	+118.2%	+6.6%	+2.9%	+13.5%	+36.7%	+12.0%	+5.3%
FY 2020	-9.5%	-4.4%	-7.8%	-9.6%	-15.4%	-14.7%	+13145.9%	+23.0%	+73.7%	-16.3%	+2.8%	+2.1%
FY 2019	+5.3%	+6.4%	+7.5%	+10.5%	+37.4%	+40.1%	+96.7%	-16.9%	+1.0%	-2.8%	+4.1%	+7.3%
FY 2018	+27.4%	+24.4%	+20.8%	+49.2%	+9.7%	+8.6%	-187.8%	-13.8%	-55.1%	+57.5%	+6.6%	+5.5%
FY 2017	+10.5%	+13.8%	-1.5%	+30.7%	+41.7%	+40.0%	-148.5%	+12.3%	+104.3%	+16.9%	+13.6%	+12.4%
FY 2016	-8.0%	-4.0%	-2.2%	-18.6%	-21.4%	-16.9%	-11.5%	-4.6%	+4.1%	-12.5%	-0.1%	-3.4%
FY 2015	-20.1%	-23.9%	-1.9%	-40.6%	-38.6%	-33.3%	+5.5%	-6.3%	-8.0%	-9.3%	-5.5%	-0.3%
FY 2014	-5.0%	-8.7%	-1.7%	-16.3%	-10.6%	-5.1%	-1.4%	-12.0%	-2.5%	-14.7%	+3.0%	+7.2%

Revenue Mix