CALM vs DE: How Cal-Maine Foods and Deere & Company Compare (2026)

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. CALM and DE share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined CALM and DE exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Cal-Maine Foods is the largest producer of shell eggs in the United States by volume. The company sells approximately 1 billion dozen eggs annually, representing approximately 20% of US shell egg sales. Cal-Maine sells through grocery retailers, foodservice distributors, and other commercial customers, primarily across the southwestern and central US.

Full CALM guide

Deere & Company is the largest manufacturer of agricultural equipment in the world (the John Deere brand) and a major manufacturer of construction, forestry, turf, and utility equipment. The company is also one of the largest captive finance operators serving agriculture and construction. The agricultural equipment business is the largest and most strategically important, with the John Deere brand being one of the most recognized industrial brands globally.

Full DE guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• CALM drivers: Avian influenza and supply disruption; Cage-free transition.
• DE drivers: Precision agriculture technology; Commodity crop and farmer income cycles.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Avian influenza could eventually impact Cal-Maine facilities, creating direct production losses. For DE, commodity crop cycle volatility affects farmer purchasing power.

Pick CALM if you believe its drivers more; DE if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the CALM and DE guides.

CALM. Cal-Maine's valuation analysis is dominated by cyclical considerations. Trailing P/E is uninformative because earnings swing materially with egg prices. Normalized earnings analysis (looking at average earnings across a full price cycle) is more useful. The dividend is formula-based and tracks earnings.

DE. Deere trades at a premium to traditional industrials reflecting the precision agriculture technology story, the dominant agricultural equipment market position, and the demonstrated through-cycle operating discipline. The multiple compresses during commodity crop down-cycles when equipment demand weakens.

Headline figures (approximate, early 2026): CALM shows revenue (ttm) ~$3 billion (varies materially with egg prices), operating margin Highly cyclical, 5-40% across cycles, net income (ttm) Highly cyclical, depends on price environment, eps (ttm) Cyclical; DE shows revenue (ttm) ~$50 billion, operating margin ~17% (cyclical), net income (ttm) ~$7 billion, eps (ttm) ~$25.00.

CALM and DE are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined CALM and DE exposure against your real portfolio. It is not an investment adviser.