Equipment small agriculture and turf operating margin measures operating profit as a percentage of segment net sales.
Deere reported an 18.4% Small Agriculture & Turf operating margin in its fiscal third quarter of 2026, up from 16.0% a year earlier.
Volume and pricing outweighed higher production costs
Operating profit increased with higher shipment volumes, favorable sales mix, and positive price realization.
Higher material costs partly offset those benefits, showing why sales growth alone does not fully describe earnings conversion.
Segment margins preserve Deere's cost allocation
The measure follows Deere's segment operating-profit presentation and should not be assumed to match another equipment manufacturer's segment margin definition.
Use it with Small Agriculture & Turf net sales growth and Small Agriculture & Turf price realization.
Primary source: Deere fiscal Q3 2026 Form 10-Q.
Part of the Agriculture & Construction Equipment Economics
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- DEOpen operating-model research →9 of 9 reviewed concepts in Agriculture & Construction Equipment EconomicsSegment operating conversion3 of 3 bridge concepts supportedContinue through this bridge:Construction & Forestry MarginProduction & Precision Ag Margin
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Compare small agriculture and turf margins
Compare segment margin conversion with shipment volume, sales mix, realized pricing, and production costs preserved.
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