DCF Tool


Deere & Co. – Farm Machinery and Equipment Manufacturing
deere & company (nyse: de) is a world leader in providing advanced products and services and is committed to the success of customers whose work is linked to the land - those who cultivate, harvest, transform, enrich and build upon the land to meet the world's dramatically increasing need for food, fuel, shelter and infrastructure. since 1837, john deere has delivered innovative products of superior quality built on a tradition of integrity. john deere social media house rules https://www.deere.com/en_us/campaigns/house-rules.page
Analysis Results
Intrinsic Value $2,315.18
Latest Price $370.00
Relative Value 84% undervalued
Thoughts on this result? Let us know.
Cash Flow (Billions)
Analysis Parameters
New Ticker
Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 31.0%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 5.6%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 31.0%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2023 10.0 9.5
2024 13.1 11.8
2025 17.2 14.6
2026 22.5 18.1
2027 29.5 22.5
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 844 billion. This corresponds to a present value of 609 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 76.6 billion. Adding in the terminal value gives a total present value of 686 billion.

There are presently 296.0 million outstanding shares, so the intrinsic value per share is 2315.18.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 65,779,000,000
Current Cash 3,828,000,000
Current Liabilities 58,502,000,000
Current Debt 1,040,000,000
Non-Cash Working Capital (NCWC) 4,489,000,000
Change in NCWC 1,770,000,000
EBIT 9,367,000,000
Tax Provision 2,007,000,000
Depreciation and Amortization 1,895,000,000
Capital Expenditure -3,788,000,000
Unlevered Free Cash Flow 7,186,479,041
Current Assets 59,957,000,000
Current Cash 7,191,000,000
Current Liabilities 51,566,000,000
Current Debt 1,519,000,000
Non-Cash Working Capital (NCWC) 2,719,000,000
Change in NCWC 1,766,000,000
EBIT 7,852,000,000
Tax Provision 1,658,000,000
Depreciation and Amortization 2,050,000,000
Capital Expenditure -2,580,000,000
Unlevered Free Cash Flow 7,380,192,575
Current Assets 52,581,000,000
Current Cash 6,152,000,000
Current Liabilities 45,794,000,000
Current Debt 318,000,000
Non-Cash Working Capital (NCWC) 953,000,000
Change in NCWC 2,061,000,000
EBIT 4,542,000,000
Tax Provision 1,082,000,000
Depreciation and Amortization 2,118,000,000
Capital Expenditure -2,656,000,000
Unlevered Free Cash Flow 4,783,528,292
Current Assets 50,754,000,000
Current Cash 3,176,000,000
Current Liabilities 49,717,000,000
Current Debt 1,031,000,000
Non-Cash Working Capital (NCWC) -1,108,000,000
Change in NCWC -12,500,000
EBIT 4,365,000,000
Tax Provision 852,000,000
Depreciation and Amortization 2,019,000,000
Capital Expenditure -3,449,000,000
Unlevered Free Cash Flow 2,017,418,471
Current Assets 48,380,000,000
Current Cash 3,203,000,000
Current Liabilities 47,782,100,000
Current Debt 1,509,600,000
Non-Cash Working Capital (NCWC) -1,095,500,000
Change in NCWC 1,696,600,000
EBIT 4,395,300,000
Tax Provision 1,727,000,000
Depreciation and Amortization 1,927,100,000
Capital Expenditure -2,950,100,000
Unlevered Free Cash Flow 3,216,384,295
Current Assets 48,114,300,000
Current Cash 8,188,600,000
Current Liabilities 43,093,300,000
Current Debt 375,500,000
Non-Cash Working Capital (NCWC) -2,792,100,000
Change in NCWC -2,461,400,000
EBIT 3,394,000,000
Tax Provision 971,000,000
Depreciation and Amortization 1,715,500,000
Capital Expenditure -2,592,300,000
Unlevered Free Cash Flow -996,998,134
Current Assets 41,004,900,000
Current Cash 3,174,700,000
Current Liabilities 38,409,900,000
Current Debt 249,000,000
Non-Cash Working Capital (NCWC) -330,700,000
Change in NCWC -202,200,000
EBIT 2,472,100,000
Tax Provision 700,000,000
Depreciation and Amortization 1,559,800,000
Capital Expenditure -2,955,100,000
Unlevered Free Cash Flow 95,670,399
Current Assets 42,135,800,000
Current Cash 2,947,700,000
Current Liabilities 39,780,900,000
Current Debt 464,300,000
Non-Cash Working Capital (NCWC) -128,500,000
Change in NCWC -2,366,400,000
EBIT 3,053,800,000
Tax Provision 840,000,000
Depreciation and Amortization 1,382,400,000
Capital Expenditure -694,000,000
Unlevered Free Cash Flow 453,400,862
Current Assets 46,044,400,000
Current Cash 3,269,600,000
Current Liabilities 40,971,000,000
Current Debt 434,100,000
Non-Cash Working Capital (NCWC) 2,237,900,000
Change in NCWC -1,534,500,000
EBIT 5,079,200,000
Tax Provision 1,626,500,000
Depreciation and Amortization 1,306,500,000
Capital Expenditure -2,659,300,000
Unlevered Free Cash Flow 467,126,773
Current Assets 45,607,800,000
Current Cash 4,230,500,000
Current Liabilities 38,685,300,000
Current Debt 1,080,400,000
Non-Cash Working Capital (NCWC) 3,772,400,000
Change in NCWC 1,737,600,000
EBIT 5,780,600,000
Tax Provision 1,945,900,000
Depreciation and Amortization 1,140,300,000
Capital Expenditure -2,375,300,000
Unlevered Free Cash Flow 4,231,869,729
Current Assets 42,719,000,000
Current Cash 5,009,400,000
Current Liabilities 36,099,600,000
Current Debt 424,800,000
Non-Cash Working Capital (NCWC) 2,034,800,000
Change in NCWC 234,700,000
EBIT 4,962,100,000
Tax Provision 1,659,400,000
Depreciation and Amortization 1,004,200,000
Capital Expenditure -2,121,000,000
Unlevered Free Cash Flow 2,339,541,589

This analysis is provided for informational purposes only and does not constitute financial or investing advice. For more information on the advantages and limitations of DCF analysis see background. This information is provided on an "as is" basis. No warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of any information. By using this site you agree that under no circumstances shall Valuation Tools LLC be held liable for any loss or damage caused by information obtained from this website including any articles, data, videos, its social media accounts, or any other materials.