DE vs IBM
Deere & Co. and International Business Machines Corp., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | DE | IBM |
|---|---|---|
| Revenue | $45.7B | $67.5B |
| Net income | $5.0B | $10.6B |
| Gross margin | · | 58.2% |
| Net margin | 10.9% | 15.7% |
| Return on equity | 20.6% | 35.3% |
| Diluted EPS | $18.50 | $11.17 |
| Dividend / share | $6.48 | $6.71 |
| Payout ratio | 34.2% | 59.0% |
| Free cash flow | $6.1B | $12.1B |
| Equity | $25.9B | $32.6B |
| Net debt / equity | 0.47× | 1.46× |
| Current ratio | · | 0.96× |
| Revenue CAGR 5y | 5.2% | 4.1% |
| Profit CAGR 5y | 12.8% | 13.6% |
IBM bills 1.5× the revenue of DE, and keeps more of each dollar of revenue as profit (15.7% against 10.9%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | DE | IBM |
|---|---|---|
| FY2025 | $45.7B | $67.5B |
| FY2024 | $51.7B | $62.8B |
| FY2023 | $61.3B | $61.9B |
| FY2022 | $52.6B | $60.5B |
| FY2021 | $44.0B | $57.4B |
| FY2020 | $35.5B | $55.2B |
| FY2019 | $39.3B | $57.7B |
| FY2018 | $37.4B | $79.6B |
| FY2017 | $29.7B | $79.1B |
| FY2016 | $26.6B | $79.9B |
Bottom line
| Fiscal year | DE | IBM |
|---|---|---|
| FY2025 | $5.0B | $10.6B |
| FY2024 | $7.1B | $6.0B |
| FY2023 | $10.2B | $7.5B |
| FY2022 | $7.1B | $1.6B |
| FY2021 | $6.0B | $5.7B |
| FY2020 | $2.8B | $5.6B |
| FY2019 | $3.3B | $9.4B |
| FY2018 | $2.4B | $8.7B |
| FY2017 | $2.2B | $5.8B |
| FY2016 | $1.5B | $11.9B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$21,851,000,000 | IBM |
| FY2024 | −$11,037,000,000 | IBM |
| FY2023 | −$609,000,000 | IBM |
| FY2022 | −$7,953,000,000 | IBM |
| FY2021 | −$13,326,000,000 | IBM |
| FY2020 | −$19,639,000,000 | IBM |
| FY2019 | −$18,456,000,000 | IBM |
| FY2018 | −$42,233,000,000 | IBM |
| FY2017 | −$49,401,000,000 | IBM |
| FY2016 | −$53,275,000,000 | IBM |
| FY2015 | −$52,878,200,000 | IBM |
| FY2014 | −$56,726,100,000 | IBM |
| FY2013 | −$60,571,600,000 | IBM |
| FY2012 | −$66,716,900,000 | IBM |
| FY2011 | −$74,903,500,000 | IBM |
| FY2010 | −$73,865,400,000 | IBM |
| FY2009 | −$72,645,600,000 | IBM |
| FY2008 | −$75,192,400,000 | IBM |
| FY2007 | −$74,703,800,000 | IBM |
IBM has reported the higher revenue in every one of these 19 fiscal years. The gap has narrowed since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −4.7 pp | IBM |
| FY2024 | +4.1 pp | DE |
| FY2023 | +4.5 pp | DE |
| FY2022 | +10.9 pp | DE |
| FY2021 | +3.5 pp | DE |
| FY2020 | −2.4 pp | IBM |
| FY2019 | −8.0 pp | IBM |
| FY2018 | −4.6 pp | IBM |
| FY2017 | −0.0 pp | IBM |
| FY2016 | −9.1 pp | IBM |
| FY2015 | −9.4 pp | IBM |
| FY2014 | −4.2 pp | IBM |
| FY2013 | −7.4 pp | IBM |
| FY2012 | −7.6 pp | IBM |
| FY2011 | −6.1 pp | IBM |
| FY2010 | −7.6 pp | IBM |
| FY2009 | −10.2 pp | IBM |
| FY2008 | −4.7 pp | IBM |
| FY2007 | −3.0 pp | IBM |
The higher net margin has changed hands between DE and IBM over this period.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
IBM's net margin has been more volatile than DE's over the 19 comparable fiscal years — 3.5 percentage points of standard deviation against 3.2.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between DE and IBM over these 19 fiscal years — DE led in 4 and IBM in 15.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
IBM's return on equity has been more volatile than DE's over the 19 comparable fiscal years — 24.3 percentage points of standard deviation against 8.8.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between DE and IBM over these 19 fiscal years — DE led in 4 and IBM in 15.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.