Deere & Company (also referred to as John Deere) is a U.S.-based manufacturer of agricultural and forest machinery, heavy equipment, and diesel engines whose history dates back to 1804. Nowadays, Deere & Company has become one of the largest construction equipment and farm machinery manufacturers in the world. In 2022, Deere & Company was the leading farm machinery manufacturer and the fourth-largest construction machinery manufacturer globally in terms of revenue. In 2022, the Fortune Global 500 company employed over 82,000 people in divisions around the world.
Business performance of John Deere
In 2022, global net sales and other revenue streams came to around 53 billion U.S. dollars. Net income that same year reached just over seven billion U.S. dollars. In 2022, the company held total assets to the value of over 90 billion U.S. dollars. John Deere’s largest competitors include CNH Industrial (U.K.), Kubota Corp. (Japan), AGCO (U.S.), and Claas KGaA (Germany).
Business segments
John Deere has four streams of revenue after implementing a new reporting structure in 2021: production and precision agriculture, small agriculture and turf, construction and forestry, and financial services. Production and precision agriculture, the company's largest segment, produces a wide range of equipment and technology solutions. Among its most popular products, there are various types of tractors, combines, sugarcane and cotton harvesters, as well as crop care equipment. In the 2022 fiscal year, the company generated over 22 billion U.S. dollars in revenue from this segment alone. Construction and forestry manufactures a range of machines used in construction, such as four-wheel-drive loaders or excavators, and in forestry, such as log loaders and harvesters, in addition to related accessories and services.
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