Discounted Cash Flow

Deere & Co.

DE · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $26.6b $1.5b $3.1b 5.7% $4.83
2017 $29.7b (11.6%) $2.2b (41.7%) $1.6b (-48.6%) 7.3% (26.9%) $6.76 (40.0%)
2018 $37.4b (25.6%) $2.4b (9.7%) $923.9m (-42.4%) 6.3% (-12.7%) $7.34 (8.6%)
2019 $39.3b (5.1%) $3.3b (37.4%) $2.3b (148.1%) 8.3% (30.7%) $10.28 (40.1%)
2020 $35.5b (-9.5%) $2.8b (-15.4%) $6.7b (190.7%) 7.7% (-6.6%) $8.77 (-14.7%)
2021 $44.0b (23.9%) $6.0b (116.8%) $6.9b (3.2%) 13.5% (75.0%) $19.14 (118.2%)
2022 $52.6b (19.4%) $7.1b (19.6%) $3.6b (-48.2%) 13.6% (0.1%) $23.42 (22.4%)
2023 $61.3b (16.5%) $10.2b (42.6%) $7.1b (98.9%) 16.6% (22.4%) $34.80 (48.6%)
2024 $51.7b (-15.6%) $7.1b (-30.2%) $7.6b (7.1%) 13.7% (-17.3%) $25.73 (-26.1%)
2025 $45.7b (-11.7%) $5.0b (-29.2%) $6.1b (-19.7%) 11.0% (-19.8%) $18.55 (-27.9%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model