Deere & Company (DE)
Deere is the leading maker of agricultural and construction equipment, sold under the John Deere brand. It is layering precision-agriculture technology and autonomy onto its machinery to lift farmer productivity.
DE vs FDX: how the two businesses compare
- Bigger business: FDX, with $94.7B of yearly revenue, about 2.1× DE's $45.7B.
- More cash from each sale: DE turns 16 cents of each sales dollar into operating cash flow, against 9 cents at FDX.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
FedEx (FDX) is the larger business by reported revenue: $94.7B in its fiscal year ended May 2026, about 2.1× DE's $45.7B (fiscal year ended Nov 2025). The SEC classifies them differently (Farm Machinery & Equipment; Air Courier Services); what connects them is shared exposure to the Economic trends research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Industrials
- Different
- Separate classifications
- Different
- DE November 1 · FDX May 31
- Jul 20, 2026
DE vs FDX: quick comparison
| Company fact | DE | FDX |
|---|---|---|
| Company | Deere & Company | FedEx Corporation |
| Exchange | NYSE | NYSE |
| Headquarters | Moline, Illinois | — |
| Founded | 1837 | — |
| SEC industry | Farm Machinery & Equipment | Air Courier Services |
| Fiscal year-end | November 1 | May 31 |
| Latest annual filing | 10-K · 2025-12-18 | 10-K · 2026-07-20 |
DE vs FDX: audited financials
- Scale: FDX's $94.7B of revenue is about 2.1× DE's $45.7B.
- Cash conversion: operating cash flow equalled DE 16.3% of revenue, or 1.48× net income; FDX 9.4% of revenue. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end about 7 months apart (2025-11-02 for DE, 2026-05-31 for FDX), so each figure reflects somewhat different demand and cost conditions.
| Metric | DE | FDX |
|---|---|---|
| Revenue | $45.7B2024-10-28 to 2025-11-02 · SEC filing | $94.7B2025-06-01 to 2026-05-31 · SEC filing |
| Net income | $5.0B2024-10-28 to 2025-11-02 · SEC filing | — |
| Operating cash flow | $7.5B2024-10-28 to 2025-11-02 · SEC filing | $8.9B2025-06-01 to 2026-05-31 · SEC filing |
| Diluted EPS | $18.502024-10-28 to 2025-11-02 · SEC filing | $18.552025-06-01 to 2026-05-31 · SEC filing |
| Net margin | 11.0%2024-10-28 to 2025-11-02 · SEC filing | — |
DE: FY ending 2025-11-02 · FDX: FY ending 2026-05-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where DE and FDX overlap, and where they don't
Overlap
- Shared research theme: Economic trends.
Differences
- Different SEC industries: DE files as Farm Machinery & Equipment; FDX as Air Courier Services.
- Offset fiscal calendars: DE's year ends November 1 and FDX's May 31, about 7 months apart.
- Scale: FDX reported about 2.1× the annual revenue of DE.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
FedEx Corporation (FDX)
FedEx provides express, ground, and freight shipping along with logistics services worldwide.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves DE
- Agricultural equipment demand tied to farm income and crop prices
- Precision-agriculture and autonomy technology attach rates as a margin lever beyond hardware
- Construction and forestry equipment demand tied to infrastructure and construction spending
- Dealer and used-equipment inventory levels as a leading indicator of new-equipment orders
What moves FDX
We have not yet published a company-specific driver list for FDX. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-07-20.
The investment question
You now know FDX reports about 2.1× DE's revenue. Those are the facts. The investment question is what each share price already assumes about their exposure to economic trends, including “Agricultural equipment demand tied to farm income and crop prices” at DE, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. DE's fiscal year ends November 1, while FDX's ends May 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 21 matched transaction rows for DE and 17 matched transaction rows for FDX. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
DE primary filings
FDX primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving DE or FDX
DE vs FDX FAQs
Are DE and FDX direct competitors?
Not necessarily. Deere files as Farm Machinery & Equipment and FedEx as Air Courier Services. The pair is compared because both map to the Economic trends research theme, not because the filings show head-to-head competition.
Is DE or FDX the bigger company by revenue?
FedEx (FDX) is the larger business by reported revenue: $94.7B in its fiscal year ended May 2026, about 2.1× DE's $45.7B (fiscal year ended Nov 2025). The SEC classifies them differently (Farm Machinery & Equipment; Air Courier Services); what connects them is shared exposure to the Economic trends research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, DE or FDX?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this DE vs FDX comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Deere & Company and FedEx Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
DE vs FDX compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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