Deere & Company — Earnings Quality Grade F
DE · Industrials
Major red flags
Screening Summary
Management Signals
Source: SEC EDGAR 8-K Item 5.02, with exhibit links when available
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 44 days, change +5 days YoY
AR growth -0.1% vs revenue growth -11.6%
Revenue -11.6%, CFFO -19.2%. Cash follows revenue
Expense Quality
Inventory 4.3% vs COGS -8.6%. Normal
CapEx growth -12.0% vs revenue -11.6%. Normal
SG&A/Gross Profit = 26.0%, excellent (<30%)
Gross margin 36.5%, change -2.1pp. Stable
Cash Flow Quality
CFFO/NI = 1.48. Profits backed by cash
FCF $3.2B, FCF/NI = 0.64
Accruals ratio = -2.3%. Low accruals
Cash $9.7B covers only 15% of debt $64.2B
Balance Sheet Health
Goodwill+Intangibles $5.5B = 21% of equity. Manageable
Debt/EBITDA = 5.5x (>4x). Financial stress
Other assets 5.1% vs revenue -11.6%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 2% YoY. Normal
Manipulation Score
M-Score = -2.52 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25