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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| David Raso | Evercore ISI | 8 questions · 25% challenging |
| Kristen Owen | Oppenheimer | 7 questions · 0% challenging |
| Tim Thein | Raymond James | 7 questions · 0% challenging |
| Jerry Revich | Wells Fargo | 7 questions · 14% challenging |
| Jamie Cook | Truist Securities | 7 questions · 29% challenging |
| Steve Volkmann | Jefferies | 5 questions · 20% challenging |
| Chad Dillard | Bernstein | 5 questions · 0% challenging |
| Angel Castillo | Morgan Stanley | 5 questions · 0% challenging |
| Steve Fisher | UBS | 5 questions · 0% challenging |
| Rob Wertheimer | Melius Research | 4 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Evercore ISI | 1 analyst | 8 questions · 25% challenging |
| Oppenheimer | 1 analyst | 7 questions · 0% challenging |
| Truist Securities | 1 analyst | 7 questions · 29% challenging |
| Wells Fargo | 1 analyst | 7 questions · 14% challenging |
| Raymond James | 1 analyst | 7 questions · 0% challenging |
| Jefferies | 2 analysts | 6 questions · 17% challenging |
| Melius Research | 2 analysts | 6 questions · 0% challenging |
| UBS | 2 analysts | 6 questions · 0% challenging |
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Calendar quarter Q4 2025Earnings call Nov 26, 2025
FY2025 Q4 in brief
Deere returned to revenue growth with Q4 up 11% to $12.4 billion, marking the first positive quarter after five consecutive declines, though EPS still fell 14% to $3.93 due to tariff costs and margin compression.
Newest quarter FY2026 Q3 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for Deere & Company (DE), FY2025 Q4: 7/10. Scores: Deere & Company’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: DE daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Deere returned to revenue growth with Q4 up 11% to $12.4 billion, marking the first positive quarter after five consecutive declines, though EPS still fell 14% to $3.93 due to tariff costs and margin compression. Equipment operations margin compressed to 9.2% despite the revenue recovery, with projected FY2026 tariff expense of approximately $1.2 billion. Management introduced FY2026 net income guidance of $4.0-4.75 billion, implying continued year-over-year decline as tariffs and higher production costs offset the volume recovery.
Demand | Pricing | Margin | Inventory | Revenue Growth | Trade Tariffs | Geographic Expansion | Competitive Dynamics | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 3 | 1 | 2 | 2 | 1 | 1 | |
| 2025Q1 | 6 | 1 | 2 | 5 | 3 | 1 | 1 | |
| 2025Q2 | 5 | 3 | 1 | 1 | 3 | |||
| 2025Q3 | 5 | 4 | 1 | 2 | 2 | 2 | 1 | |
| 2025Q4 | 1 | 2 | 4 | 1 | 2 | 2 | ||
| 2026Q1 | 5 | 4 | 3 | 2 | 2 | 1 | 3 | 3 |
| 2026Q2 | 2 | 2 | 1 | 2 | 1 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 3 | 6 | 5 | 1 | 5 | 2 | |
| Pricing | 3 | 1 | 5 | 4 | 2 | 4 | |
| Margin | 1 | 2 | 3 | 1 | 4 | 3 | 2 |
| Inventory | 2 | 5 | 1 | 2 | 2 | 1 | |
| Revenue Growth | 2 | 3 | 1 | 2 | 1 | 2 | |
| Trade Tariffs | 1 | 3 | 2 | 2 | 1 | 2 | |
| Geographic Expansion | 1 | 1 | 2 | 3 | 1 | ||
| Competitive Dynamics | 1 | 1 | 3 | 2 |
GAAP revenue YoY +11.7% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $10.83B | -28.6% | $4.55 | -44.9% | 37.0% | 19.8% | 11.5% | $3.50B |
| FY2025 Q1 | $8.26B | -30.3% | $3.19 | -48.8% | 39.0% | 17.9% | 10.5% | $-1.92B |
| FY2025 Q2 | $12.53B | -16.5% | $6.64 | -22.2% | 39.2% | 23.0% | 14.4% | $682M |
| FY2025 Q3 | $11.78B | -8.3% | $4.75 | -24.5% | 35.8% | 18.3% | 10.9% | $1.84B |
| FY2025 Q4Selected | $12.09B | +11.7% | $3.93 | -13.6% | 32.6% | 15.7% | 8.8% | $2.63B |
| FY2026 Q1 | $9.61B | +16.3% | $2.42 | -24.1% | 34.7% | 16.2% | 6.8% | $-1.58B |
| FY2026 Q2 | $13.37B | +6.7% | $6.55 | -1.4% | 38.2% | 22.5% | 13.3% | $874M |
| FY2026 Q3 | $12.61B | +7.0% | $5.10 | +7.4% | 37.0% | 20.6% | 10.9% | — |
| Year | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2022 | $51.28B | — | $23.33 | — | 30.7% | 17.6% | 13.9% | $911M |
| FY2023 | $60.25B | +17.5% | $34.66 | +48.6% | 37.0% | 24.2% | 16.9% | $4.12B |
| FY2024 | $50.52B | -16.1% | $25.60 | -26.1% | 38.6% | 22.6% | 14.1% | $4.43B |
| FY2025Selected | $44.66B | -11.6% | $18.51 | -27.7% | 36.5% | 18.8% | 11.3% | $3.23B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What DE and other companies said about each other on FY2025 Q4 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Another key example of our growth in base precision is JDLink Boost, which brings Starlink-enabled satellite connectivity to areas of the world where terrestrial cell is insufficient for machine connectivity.”
Deere's JDLink Boost embeds Starlink (SpaceX) satellite connectivity to extend machine connectivity where cellular is unavailable; Starlink is privately held.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
DE Deere & Company | 7 | +11.7% | |
| CAT Caterpillar Inc. | 8 | +18.0% | |
| PCAR Paccar | 2 | -13.7% |