Khaveen Investments is a global Investment Advisory Firm dedicated to serving the investment needs of clients worldwide including high-net-worth individuals, corporations, associations, and institutions. We provide comprehensive services ranging from market and security research to business valuation and wealth management. Our flagship Macroquantamental Hedge Fund maintains a diversified portfolio with exposure to hundreds of investments across various asset classes, geographies, sectors, and industries. We ...

公司业绩与行业现状 - 迪尔公司(DE)设备业务连续8个季度面临销量下滑压力 其中农业与草坪设备板块连续8个季度收缩 建筑与林业设备板块连续6个季度下滑[1] - 2025财年模型预测显示 生产与精准农业板块销量将下降17.6% 小型农业与草坪板块销量下降14.2% 农业与草坪板块整体销量预计下降16.4% 建筑与林业板块销量预计下降12.4% 设备业务总销量预计下降15.3%[5] - 行业同行AGCO连续6个季度负增长 预计2025年有机增长下降12.1% CNH工业农业设备销量连续8个季度下滑 建筑设备销量连续5个季度负增长[6][8] 细分市场展望 - 北美大型农业设备市场预计下降30% 小型农业与草坪设备市场预计下降10-15% 欧洲农业市场预计下降5% 南美市场持平 亚洲市场小幅下滑[3] - 北美建筑设备销量预计下降10% 紧凑型设备下降5% 全球林业设备预计持平至下降5% 全球道路建设市场预计持平[4] - AGCO预计北美大型农业设备销量下降25-30% 小型设备持平至下降5% 西欧销量下降5% 巴西销量持平至增长5%[7] 股价表现与估值 - 迪尔股价年内上涨24.4% 超过行业18.3%的涨幅 同期标普500指数上涨1.2%[9] - 当前远期市盈率25.16倍 高于行业平均22.84倍 价值评分为D级[11] - 2025财年盈利预期同比下降26.5% 收入预期下降15% 2026财年盈利预期增长17% 收入增长7.3%[12] 业绩预期调整 - 过去60天内 2025财年盈利预期下调0.79% 2026财年盈利预期上调3.52%[12] - 季度盈利预期趋势显示 Q1预期下调14.66% Q2下调7.49%[15]

Key Takeaways Deere expects net income of $4.75B-$5.5B in FY25, down from $7.1B in FY24 due to weak demand. DE's FY25 sales are projected to decline across all segments, prompting cost cuts and production pullbacks. Despite near-term headwinds, DE's focus on tech and global demand trends supports long-term prospects.Deere & Company (DE) is currently trading at a forward 12-month earnings multiple of 24.46X, a 7% premium to the farm equipment manufacturing industry’s 22.85X.It is also higher than DE’s five ...

Key Takeaways DE highlights Brazil as a key growth market, aligned with rising crop output and farming innovation. Precision solutions and factory expansion back DE's push amid strong demand for connected machinery. DE's market share gains span tractors, combines, planters and sprayers over the past 15 years.Deere & Company (DE) , at its Brazil Investor Day held yesterday, reaffirmed its commitment to fueling Brazil’s agricultural transformation. Deere’s long-standing presence, investments and technologic ...

市场表现 - 巴西在全球贸易中占据24%的玉米、52%的糖和58%的大豆的生产份额，分别为第三、第一和第一[20] - 公司在巴西的净销售额在2010年至2024年间增长了5.6倍，运营利润增长了3.4倍[192][194] - 预计未来10年，巴西的粮食生产预计将增长60%[92] 用户数据 - 预计到2030年，参与的高参与度农田面积将达到1亿英亩，且高参与度比例超过40%[177] - 2024年，连接机器的数量预计将达到2000台，参与的高参与度农田面积将达到6800万英亩[176][177] - 2024年，公司的精准农业技术采用率超过50%[179] 研发与投资 - 预计到2025年，公司的研发中心投资将达到2500万美元，Catalão工厂扩建投资约为1亿美元[172][173] - 公司在巴西的制造足迹包括4个工厂和1个研发中心，总面积达到12百万平方英尺[115] 市场扩张 - 公司在巴西的经销商网络在2004年至2024年间增长了2.7倍，平均经销商收入在2014年至2024年间增长了2.8倍，年复合增长率为11%[141][142][144] - 从2009年到2024年，拖拉机市场份额增长约2.0倍，联合收割机市场份额增长约1.5倍，播种机市场份额增长约2.5倍，喷雾器市场份额增长约2.0倍[156][157][158][161] 新技术与解决方案 - 通过约7400英亩的双作业，使用约115美元的增量利润，公司的解决方案为农场带来了总计851,000美元的增量价值[187] - 预计到2034年，巴西的乙醇生产将翻倍[30] - 巴西的乙醇消费预计在2024年至2034年间增长40%[28] 未来展望 - 预计到2035年，巴西的玉米生产将达到297百万公吨，种植面积为170万英亩[45] - 巴西的糖生产预计到2035年将达到690百万公吨，种植面积为210万英亩[51] - 巴西的棉花生产预计到2035年将达到4.1百万公吨，种植面积为60万英亩[48] - 巴西的农业用地在未来10年将增长27%[42]

经济周期与行业轮动 - 当前市场资金和情绪高度集中于科技板块 但其他行业如工业板块存在更优风险回报比 [1] - 工业板块受美中贸易关税谈判结果影响 谈判突破将打破行业停滞状态并释放新盈利预期 [2][3] 农业与工业板块投资机会 CF Industries Holdings Inc - 农业行业因贸易关税不确定性面临供需压力 但机构投资者Inspire Investing在2025年6月增持10.1%股份 持仓达110万美元 [6][7] - 当前股价92.4美元 分析师12个月平均目标价90.21美元(较现价-2.36%) 高低区间75-115美元 交易于2.1倍P/B 显著高于行业平均1.05倍 [5][8] Deere & Co - 农业价值链下游企业受益逻辑 Truist Financial分析师Jamie Cook给予买入评级 目标价619美元(较现价514.63美元潜在涨幅20%) [10][11] - 本季度机构资金流入达33亿美元 交易于6.2倍P/B 高于工业板块平均4.3倍 [12][13] Caterpillar Inc - 潜在基建法案推动需求 政府计划通过制造业回流和半导体中心建设增加投资 [14][15] - 机构资金流入34亿美元 美国银行维持买入评级 目标价385美元(较现价357.85美元潜在涨幅7.5%) [16][18] 市场共识与资金流向 - 三家公司均获机构资金大幅流入(CF 110万美元 Deere 33亿美元 Caterpillar 34亿美元) 反映市场对农业和工业板块的看涨共识 [7][12][16] - 尽管CF Industries获"持有"评级 但部分分析师认为其他五只股票更具吸引力 [19]

Deere & Company (DE) 2025 Investor Day June 10, 2025 01:00 PM ET Speaker0 Hello, and good afternoon to everyone here in person at our research and development center in Andayatuba, Brazil. And a good morning, good afternoon, and good evening to all those joining us live via webcast around the world. Welcome to John Deere's Investor Day Brazil. My name is Josh Beale, and I'm the director of investor relations for Deere and Company. We are so excited to have you here today, and thank you for taking the time t ...

The Zacks Manufacturing - Farm Equipment industry is facing near-term challenges from weak commodity prices and high costs. However, it will eventually benefit from sustained demand for agricultural equipment, driven by a growing population.Industry players like Deere & Company (DE) , CNH Industrial N.V. (CNH) , AGCO Corporation (AGCO) and Lindsay Corporation (LNN) are well-poised to benefit from this demand by expanding their product offerings. The industry’s emphasis on revolutionizing agriculture with te ...

Record-breaking community contributions earn national acclaim in The Civic 50MOLINE, Ill., June 4, 2025 /PRNewswire/ -- John Deere employees have once again set new records in volunteerism over the past year, demonstrating an unwavering commitment to community giving.Their dedication has earned national recognition for the fourth straight year, as John Deere has been named to The Civic 50 — an honor from Points of Light recognizing the 50 most community-minded companies in the United States. John Deere ...

MOLINE, Ill., June 3, 2025 /PRNewswire/ -- John Deere (NYSE: DE) will hold its Brazil Investor Day on Tuesday, 10 June, beginning at 12:00 p.m. central time. During the event, the company's senior leaders and regional management team will discuss the evolution of both the agriculture sector and the company's presence in the region, highlighting 25 years of strategic investments and future opportunities.The live webcast of the event together with the presentation can be accessed at https://investor.deere.com ...