Deere & Company
DEQ1 2025Estimated2.5% AI
AI Revenue %
2.5%
AI Fair Value
$2.7B
AI Revenue (Q)
$212.7M
Total Revenue (Q)
$8.5B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q1 FY2025 shows PPA net sales $3,067M with 'Over time' revenue of $87M (2.8% of PPA). Total equipment 'Over time' was $164M out of $6,809M equipment sales = 2.4%. Deferred revenue grew to $2,027M at Jan 26, 2025 (up from $1,923M at fiscal year start). Unsatisfied performance obligations >1yr grew to $1,734M. The filing states 'Solutions as a Service products did not represent a significant percentage of our revenues.' However, Over-time revenue as a percentage of total revenue is growing, as equipment sales are declining faster than technology subscription revenue. The ratio of over-time to total equipment revenue improved from ~1.0% in FY2024 to 2.4% in Q1 FY2025. Adjusting estimate upward to 2.5% to reflect growing technology penetration and resilient subscription revenue against declining hardware volumes. Math: ~$164M over-time + ~$6M hardware tech premium = ~$170M / $6,809M = ~2.5%.
Analyzed by claude-opus-4-6
Quoted Figures
PPA net sales $3,067M; PPA 'Over time' revenue $87M (2.8% of PPA); Total equipment 'Over time' $164M / $6,809M = 2.4%; Deferred revenue $2,027M; Unsatisfied perf obligations >1yr $1,734M; 'Solutions as a Service products did not represent a significant percentage of our revenues'
Filing
AI Products Identified (Ring 1)
John Deere Operations CenterSee & SprayPrecision GuidanceTelematicsSolutions as a Service
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Production and Precision Agriculture segmentSolutions as a ServiceEngaged Acres
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix