To say that Deere & Company (NYSE: DE) has been a wonderful investment would be somewhat of an understatement. Its shares have tripled in the last five years, trouncing the 60% gain of the S&P 500. But so far in 2023, this top industrial stock is flat, seriously lagging the broader market index.  

Is Deere stock a buy right now, even though the maker of agriculture machinery, heavy equipment, and lawn-care machines hasn't performed well lately? Let's consider the facts and come to an informed decision. 

In fiscal 2022 (ended last Oct. 30), Deere registered revenue of $52.6 billion, up 19% year over year, and this strong momentum has continued in recent quarters. The business was able to grow sales 30% in the second quarter of 2023, and it beat Wall Street estimates for revenue and earnings per share in the latest quarter. 

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Source Fool.com