DE vs PCAR: Deere & and PACCAR compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Deere & is the larger company, worth $162.3B, about 2.9 times PACCAR.
- Deere & grew revenue faster over the last year (+4.9% vs +0.5%).
- On earnings, PACCAR is the cheaper stock (22.5x vs 33.8x).
- Deere &'s price assumes faster free cash flow growth: about 9% a year, against 1% for PACCAR (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | DE | PCAR |
|---|---|---|
| Market cap | $162.3B | $55.6B |
| Share price | $620.93 | $108.04 |
| Revenue (last fiscal year) | $45.7B | $28.4B |
| Free cash flow (last fiscal year) | $6.1B | $3.7B |
| Revenue growth, last year | +4.9% | +0.5% |
| Revenue growth per year, last 5 fiscal years | +0.9% | +4.9% |
| Operating margin | 13.4% | — |
| Net margin | 10.2% | 9.0% |
| Return on equity | 17.4% | 12.3% |
| P/E (trailing) | 33.8x | 22.5x |
| Price / free cash flow | 50.2x | 18.4x |
| EV / EBITDA | 18.9x | 17.8x |
| FCF growth the price implies | 8.7% | 1.4% |
| Dividend yield | 1.1% | 1.2% |
| Debt / equity | 2.84x | 1.16x |
| Fundamental grade | D | C |
| Superinvestors holding it | 11 | 3 |
| Insider purchases, last 12 months | 6 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Deere &
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $44.0B | $6.9B | 18.2% |
| 2022 | $52.6B | $3.6B | 18.1% |
| 2023 | $61.3B | $7.1B | 21.2% |
| 2024 | $51.7B | $7.6B | 17.5% |
| 2025 | $45.7B | $6.1B | 13.7% |
PACCAR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $23.5B | $1.6B | — |
| 2022 | $28.8B | $2.5B | — |
| 2023 | $35.1B | $3.5B | — |
| 2024 | $33.7B | $3.8B | — |
| 2025 | $28.4B | $3.7B | — |
Where the revenue comes from
Deere & · by segments, 2020
Agriculture and Turf$22.8B64%
Construction and Forestry$9.2B26%
Financial Services$3.6B10%
PACCAR · by products, 2025
Truck, Parts and Other$26.2B92%
Financial Services$2.2B8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open DE in InvestinglyQuestions
Which is bigger, Deere & or PACCAR?
Deere & (DE), at $162.3B against $55.6B.
Is DE or PCAR cheaper?
By trailing P/E, PACCAR (22.5x) is cheaper than Deere & (33.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, DE or PCAR?
Deere &: revenue grew +4.9% over the last year, against +0.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.