DE
Deere & Company (John Deere)
Is DE Halal?
Agricultural equipment — permissible. Farming equipment serves food security.
What You Should Know
Deere manufactures agricultural and construction equipment. Its May 3, 2026 Form 10-Q reports $107,001 million of assets, $51,063 million of interest-bearing debt, $9,286 million of cash plus identified debt securities, $50,487 million of trade and finance receivables, and $13,369 million of quarterly revenue. Debt/assets is 47.72% and receivables plus cash/assets is 54.57%, so the current asset-based financial screens fail. Agriculture promotes food security (hifz al-nafs), while Deere Financial's financing and leasing remain a separate riba concern.
⚠️ Concerns
- •Debt/assets is 47.72% and receivables plus cash/assets is 54.57%
- •John Deere Financial earns interest income and holds material finance receivables
- •Agricultural, construction, labor, emissions, and end-use impacts require review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-05-03; calculated 2026-07-14.
51,063 / 107,001
9,286 / 107,001
58,392 / 107,001
91 / 13,369
- Financial
- Fails
- Overall
- Fails
Debt/assets is 47.72% and receivables plus cash/assets is 54.57%, both above the examined FTSE limits; liquidity/assets is 8.68% and disclosed interest income is 0.68%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 47.72% and receivables plus cash/assets is 54.57%, above the examined MSCI total-assets limits; this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 47.72%, above the examined 33% limit; this is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Fails
Market-cap methods are not calculated; the debt and receivables failures independently prevent a pass.
Business-activity disclosure
Deere primarily manufactures agricultural, construction, and forestry equipment, while Deere Financial provides financing and leasing. The equipment core is generally permissible, but the financing subsidiary is material and requires continuing riba analysis.
Limitation: The filing reports Financial Products and financing disclosures but does not provide a single scholar-approved prohibited-revenue allocation for all leases, financing, and fees.
Purification
Interest income of 91 is disclosed; purification does not cure the failed leverage and receivables ratios.
Inputs, assumptions and primary sources
- Amounts are USD millions from Deere's May 3, 2026 Form 10-Q.
- Debt includes current long-term debt of 8,880 and non-current long-term debt and finance leases of 42,183.
- Interest-bearing securities use identified available-for-sale debt securities of 1,381.
- Receivables include accounts receivable of 7,571 and net notes receivable/net investment in leases of 42,916.
- Quarterly revenue is 13,369; Deere Financial revenue is 1,314 and disclosed interest income is 91.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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