Key Stats
- Founded: 1837 in Grand Detour, Illinois
- Headquarters: Moline, Illinois, USA
- CEO: John C. May (since November 2019)
- Revenue: $45.68 billion (FY2025)
- Market Cap: $132 billion (January 2025)
Deere & Co. stands as the world’s largest manufacturer of agricultural machinery and a major producer of construction equipment. The company operates through three segments: Agriculture & Turf, Construction & Forestry, and Financial Services.
From tractors and combines to excavators and forestry machines, John Deere equipment serves farmers, builders, and landowners across more than 100 countries. The Financial Services division provides financing for equipment purchases and leases worldwide.
The iconic green and yellow brand has maintained its commitment to quality since blacksmith John Deere crafted his first steel plow nearly two centuries ago. Today, the company employs approximately 73,000 people and trades on the NYSE under the symbol DE.
Deere & Co. History
The Deere & Co. story begins with one man’s determination to solve a problem that plagued Midwestern farmers. John Deere’s innovation transformed American agriculture and built a company that endures today.
John Deere invents the self-scouring steel plow in Grand Detour, Illinois
Relocates to Moline for better access to Mississippi River transportation
Business incorporated as Deere & Company
Acquires Waterloo Gasoline Engine Company, enters tractor business
Forms Industrial Equipment Division for construction machinery
Launches New Generation tractors at historic Deere Day in Dallas
Acquires Wirtgen Group for $5.2 billion, largest deal in company history
John C. May becomes CEO, the 10th in company history
Unveils fully autonomous tractor at CES, reaches $60B revenue
Deere & Co. Founder
John Deere
Founder & President (1837-1886)
Vermont-born blacksmith who moved to Illinois and invented the self-scouring steel plow. His commitment to quality defined the company’s values for generations.
Charles Deere
President (1886-1907)
Son of John Deere who expanded the company beyond plows into wagons, planters, and cultivators. Established the first branch house distribution system.
William Butterworth
President (1907-1928)
Charles Deere’s son-in-law who consolidated operations and led the company into the tractor business through the Waterloo acquisition.
Deere & Co. Competitors
Deere & Co. competes with global manufacturers across agricultural, construction, and forestry equipment markets. Caterpillar remains its primary rival in construction machinery, while CNH Industrial and AGCO challenge its agricultural dominance.
| Company | Headquarters | Primary Products |
|---|---|---|
| Caterpillar Inc. | Irving, Texas, USA | Construction, Mining Equipment |
| CNH Industrial | Basildon, UK | Agricultural, Construction Equipment |
| Kubota Corporation | Osaka, Japan | Tractors, Construction Equipment |
| AGCO Corporation | Duluth, Georgia, USA | Agricultural Machinery |
| Komatsu Ltd. | Tokyo, Japan | Construction, Mining Equipment |
| CLAAS KGaA | Harsewinkel, Germany | Harvesters, Tractors |
| Mahindra & Mahindra | Mumbai, India | Tractors, Farm Equipment |
| Doosan Infracore | Seoul, South Korea | Excavators, Wheel Loaders |
| The Toro Company | Bloomington, Minnesota, USA | Turf, Landscape Equipment |
| Terex Corporation | Norwalk, Connecticut, USA | Cranes, Material Handling |
Deere & Co. Revenue
Deere & Co. generates revenue primarily from equipment sales across its Agriculture & Turf and Construction & Forestry segments. Financial Services contributes additional income through equipment financing and leasing operations.
The company reached peak revenue of $60.25 billion in fiscal year 2023 before declining to $50.52 billion in 2024 amid softening agricultural markets.
Deere & Co. Acquisitions
Deere & Co. has pursued strategic acquisitions to expand its product portfolio and technology capabilities. The company targets firms that strengthen its position in precision agriculture, autonomous systems, and construction equipment.
The 2017 Wirtgen Group acquisition marked the largest deal in company history at $5.2 billion. This German road construction equipment manufacturer added five premium brands to Deere’s portfolio, including pavers, compactors, and milling machines. The acquisition established Deere as an industry leader in global road construction.
That same year, Deere acquired Blue River Technology for $305 million. The California startup developed see-and-spray technology using computer vision to identify individual plants. This precision system reduces herbicide usage by up to 90 percent while improving crop yields.
In 2016, Deere purchased majority ownership of Hagie Manufacturing to enter the high-clearance sprayer market. The Iowa-based company brought expertise in late-season application equipment that complements Deere’s existing sprayer lineup.
The company’s push into autonomy accelerated with the 2021 acquisition of Bear Flag Robotics for $250 million. Bear Flag’s autonomous driving technology retrofits onto existing tractors, enabling farmers to operate equipment without an operator in the cab.
Recent acquisitions include SparkAI in 2023 for human-in-the-loop AI capabilities, and GUSS Automation in 2025 for autonomous orchard sprayers. Deere also acquired Sentera in 2025 to enhance its aerial imagery and crop monitoring solutions. These deals reflect the company’s commitment to agricultural automation and precision technology.
Deere & Co. Market Cap
Deere & Co. trades on the New York Stock Exchange under the ticker DE. The company’s market capitalization has grown substantially over the past decade, reflecting investor confidence in its technology investments and market leadership.
Market cap peaked at approximately $126 billion in early 2023 before moderating alongside declining agricultural equipment demand. As of January 2025, Deere’s market cap stands at approximately $132 billion.
FAQs
Who founded Deere & Co.?
John Deere founded the company in 1837 in Grand Detour, Illinois. He was a blacksmith who invented the self-scouring steel plow that could cut through tough prairie soil without clogging.
When did John Deere start making tractors?
Deere & Co. entered the tractor business in 1918 by acquiring the Waterloo Gasoline Engine Company. The Waterloo Boy tractor became the foundation for John Deere’s tractor line.
What does Deere & Co. manufacture?
Deere & Co. manufactures agricultural equipment, construction machinery, forestry equipment, and turf care products. The company also provides financial services for equipment purchases and leases.
Where is Deere & Co. headquartered?
Deere & Co. is headquartered in Moline, Illinois, where the company has operated since 1848. The John Deere World Headquarters campus was designed by architect Eero Saarinen.
What is John Deere’s slogan?
John Deere’s slogan is “Nothing Runs Like a Deere.” The company has used its leaping deer logo for over 155 years, making it one of the longest continuously used corporate logos.
*Information from Forbes.com and Deere.com
**Video published on YouTube by “JohnDeere”