Caterpillar Inc.(CAT)Earnings, Financials & Key Ratios

CAT•NYSE

$904.59

$420.89B mkt cap·48.0× P/E·Price updated May 6, 2026

SectorIndustrials IndustryAgricultural Machinery Sub-IndustryConstruction and Material Handling Equipment

AboutCaterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators. The Resource Industries segment provides electric rope shovels, draglines, hydraulic shovels, rotary drills, hard rock vehicles, track-type tractors, mining trucks, longwall miners, wheel loaders, off-highway trucks, articulated trucks, wheel tractor scrapers, wheel dozers, fleet management, landfill compactors, soil compactors, machinery components, autonomous ready vehicles and solutions, select work tools, and safety services and mining performance solutions. The Energy & Transportation segment offers reciprocating engines, generator sets, integrated systems and solutions, turbines and turbine-related services, remanufactured reciprocating engines and components, centrifugal gas compressors, diesel-electric locomotives and components, and other rail-related products and services for marine, oil and gas, industrial, and electric power generation sectors. The company's Financial Products segment provides operating and finance leases, installment sale contracts, working capital loans, and wholesale financing plans; and insurance and risk management products for vehicles, power generation facilities, and marine vessels. The All Other operating segment manufactures filters and fluids, undercarriage, ground engaging tools, etc. The company was formerly known as Caterpillar Tractor Co. and changed its name to Caterpillar Inc. in 1986. The company was founded in 1925 and is headquartered in Deerfield, Illinois.Show more

Revenue$67.59B+4.3%
EBITDA$13.47B-11.5%
Net Income$8.87B-17.8%
EPS (Diluted)18.83-14.6%
Gross Margin32.34%-10.1%
EBITDA Margin19.93%-15.2%
Operating Margin16.59%-17.8%
Net Margin13.13%-21.2%
ROE43.48%-21.4%
ROIC15.91%-17.7%
Debt/Equity2.03+3.2%
Interest Coverage12.23-54.9%

Analysis→Technical→

CAT Key Insights

Caterpillar Inc. (CAT) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Excellent 3Y average ROE of 52.4%
✓Strong 5Y profit CAGR of 24.2%
✓FCF machine: 15.2% free cash flow margin
✓Momentum leader: RS Rating 90 (top 10%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 10.1%

✗Weaknesses

✗High debt to equity ratio of 2.0x
✗Expensive at 19.9x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CAT Price & Volume

Caterpillar Inc. (CAT) stock price & volume — 10-year historical chart

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CAT Growth Metrics

Caterpillar Inc. (CAT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years3.7%

5 Years10.12%

3 Years4.38%

TTM11.85%

Profit CAGR

10 Years13.45%

5 Years24.24%

3 Years9.79%

TTM-5.23%

EPS CAGR

10 Years16.24%

5 Years28.09%

3 Years14.21%

TTM-2.05%

Return on Capital

10 Years14.95%

5 Years19.34%

3 Years22.79%

Last Year19.08%

CAT Recent Earnings

Caterpillar Inc. (CAT) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 9/12 qtrs (75%)●Beat Revenue 6/12 qtrs (50%)

Q2 2026Latest

Apr 30, 2026

EPS

$5.54

Est $4.65

+19.1%

Revenue

$17.4B

Est $16.5B

+5.4%

Q1 2026

Jan 29, 2026

EPS

$5.16

Est $4.71

+9.6%

Revenue

$19.1B

Est $17.9B

+7.2%

Q4 2025

Oct 29, 2025

EPS

$4.95

Est $4.53

+9.3%

Revenue

$17.6B

Est $16.8B

+5.2%

Q3 2025

Aug 5, 2025

EPS

$4.72

Est $4.89

-3.5%

Revenue

$16.6B

Est $16.3B

+1.6%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 30, 2026	$5.54vs $4.65+19.1%	$17.4Bvs $16.5B+5.4%
Q1 2026	Jan 29, 2026	$5.16vs $4.71+9.6%	$19.1Bvs $17.9B+7.2%
Q4 2025	Oct 29, 2025	$4.95vs $4.53+9.3%	$17.6Bvs $16.8B+5.2%
Q3 2025	Aug 5, 2025	$4.72vs $4.89-3.5%	$16.6Bvs $16.3B+1.6%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	FCF Yield	Debt / Equity
DEDeere & CompanyDirect Competitor	156.08B	575.79	31.12	-2.23%	8.88%	15.46%	2.07%	2.46
CNHCNH Industrial N.V.Direct Competitor	12.8B	10.32	25.17	-8.76%	2.13%	4.92%	15.58%	3.45
AGCOAGCO CorporationDirect Competitor	8.29B	114.55	11.75	-13.55%	7.43%	16.73%	8.92%	0.59
PCARPACCAR IncDirect Competitor	59.69B	113.42	25.15	-15.5%	9.09%	17.2%	5.08%
CMICummins Inc.Direct Competitor	93.26B	675.00	32.93	-1.27%	7.89%	20.27%	2.56%	0.61
VMCVulcan Materials CompanyProduct Competitor	37.82B	291.51	35.90	6.94%	13.88%	13.07%	3%	0.63
MLMMartin Marietta Materials, Inc.Product Competitor	36.56B	606.10	32.24	0.12%	38.67%	25.07%	2.68%	0.53
$TEX logo$ TEXTerex CorporationProduct Competitor	4B	60.87	18.28	5.73%	1.87%	4.07%	8.04%	1.34

Compare CAT vs Peers

Caterpillar Inc. (CAT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs DE

Most directly comparable listed peer for CAT.

Scale Benchmark

vs ETN

Larger-name benchmark to compare CAT against a more recognizable public peer.

Peer Set

Compare Top 5

vs DE, CNH, AGCO, PCAR

CAT Income Statement

Caterpillar Inc. (CAT) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Sales/Revenue	45.46B	54.72B	53.8B	41.75B	50.97B	59.43B	67.06B	64.81B	67.59B	70.75B
Revenue Growth %	17.97%	20.37%	-1.68%	-22.4%	22.09%	16.59%	12.84%	-3.36%	4.29%	11.85%
Cost of Goods Sold	31.91B	37.72B	37.38B	29.67B	35.97B	41.91B	43.8B	41.48B	45.73B	47.74B
COGS % of Revenue	70.18%	68.93%	69.49%	71.07%	70.57%	70.53%	65.31%	64.01%	67.66%	-
Gross Profit	13.56B▲ 0%	17B▲ 25.4%	16.42B▼ 3.5%	12.08B▼ 26.4%	15B▲ 24.2%	17.51B▲ 16.7%	23.26B▲ 32.8%	23.32B▲ 0.3%	21.86B▼ 6.3%	23.01B▲ 0%
Gross Margin %	29.82%	31.07%	30.51%	28.93%	29.43%	29.47%	34.69%	35.99%	32.34%	32.52%
Gross Profit Growth %	36.97%	25.43%	-3.45%	-26.43%	24.23%	16.72%	32.84%	0.26%	-6.28%	-
Operating Expenses	9.1B	8.71B	8.13B	7.52B	8.13B	9.61B	10.3B	10.25B	10.65B	11.29B
OpEx % of Revenue	20.01%	15.92%	15.1%	18.02%	15.94%	16.17%	15.35%	15.82%	15.76%	-
Selling, General & Admin	5B	5.48B	5.16B	4.64B	5.37B	5.65B	6.37B	6.67B	6.99B	7.21B
SG&A % of Revenue	11%	10.01%	9.59%	11.12%	10.53%	9.51%	9.5%	10.29%	10.33%	-
Research & Development	1.84B	1.85B	1.69B	1.42B	1.69B	1.81B	2.11B	2.11B	2.15B	2.21B
R&D % of Revenue	4.05%	3.38%	3.15%	3.39%	3.31%	3.05%	3.14%	3.25%	3.18%	-
Other Operating Expenses	2.25B	1.38B	1.27B	1.47B	1.07B	2.14B	1.82B	1.48B	1.52B	4M
Operating Income	4.46B▲ 0%	8.29B▲ 85.9%	8.29B▼ 0.0%	4.55B▼ 45.1%	6.88B▲ 51.1%	7.9B▲ 14.9%	12.97B▲ 64.0%	13.07B▲ 0.8%	11.21B▼ 14.2%	11.72B▲ 0%
Operating Margin %	9.81%	15.15%	15.41%	10.91%	13.49%	13.3%	19.33%	20.17%	16.59%	16.56%
Operating Income Growth %	283.82%	85.94%	-0.04%	-45.08%	51.07%	14.92%	64.04%	0.82%	-14.24%	-
EBITDA	7.34B	11.06B	10.87B	6.99B	9.23B	10.12B	15.11B	15.22B	13.47B	14.03B
EBITDA Margin %	16.14%	20.21%	20.2%	16.73%	18.11%	17.03%	22.53%	23.49%	19.93%	19.83%
EBITDA Growth %	74.86%	50.73%	-1.74%	-35.72%	32.14%	9.68%	49.26%	0.76%	-11.51%	-1.87%
D&A (Non-Cash Add-back)	2.88B	2.77B	2.58B	2.43B	2.35B	2.22B	2.14B	2.15B	2.26B	2.32B
EBIT	4.61B	8.23B	8.23B	4.51B	8.69B	9.2B	13.56B	13.88B	12.59B	12.99B
Net Interest Income	-400M	-206M	-215M	-398M	-405M	-276M	-17M	-30M	-543M	-1.02B
Interest Income	122M	195M	202M	112M	80M	167M	494M	482M	487M	388M
Interest Expense	522M	401M	417M	510M	485M	443M	511M	512M	1.03B	1.41B
Other Income/Expense	-362M	-447M	-450M	-544M	1.36B	867M	147M	345M	353M	481M
Pretax Income	4.1B▲ 0%	7.85B▲ 91.5%	7.84B▼ 0.1%	4.01B▼ 48.9%	8.23B▲ 105.4%	8.77B▲ 6.5%	13.11B▲ 49.5%	13.42B▲ 2.3%	11.56B▼ 13.8%	12.2B▲ 0%
Pretax Margin %	9.01%	14.34%	14.57%	9.6%	16.16%	14.76%	19.55%	20.7%	17.11%	17.24%
Income Tax	3.34B	1.7B	1.75B	1.01B	1.74B	2.07B	2.78B	2.63B	2.77B	2.86B
Effective Tax Rate %	81.48%	21.64%	22.27%	25.09%	21.15%	23.57%	21.21%	19.59%	23.94%	23.48%
Net Income	754M▲ 0%	6.15B▲ 715.3%	6.09B▼ 0.9%	3B▼ 50.8%	6.49B▲ 116.4%	6.71B▲ 3.3%	10.34B▲ 54.1%	10.79B▲ 4.4%	8.87B▼ 17.8%	9.42B▲ 0%
Net Margin %	1.66%	11.23%	11.33%	7.18%	12.73%	11.28%	15.41%	16.65%	13.13%	13.31%
Net Income Growth %	1225.37%	715.25%	-0.88%	-50.8%	116.44%	3.33%	54.14%	4.42%	-17.78%	-5.23%
Net Income (Continuing)	759M	6.15B	6.09B	3B	6.49B	6.7B	10.33B	10.79B	8.79B	9.33B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	69M	41M	41M	47M	32M	22M	9M	3M	0	-1M
EPS (Diluted)	1.26▲ 0%	10.26▲ 714.3%	10.74▲ 4.7%	5.46▼ 49.2%	11.83▲ 116.7%	12.64▲ 6.8%	20.12▲ 59.2%	22.05▲ 9.6%	18.83▼ 14.6%	20.22▲ 0%
EPS Growth %	1245.45%	714.29%	4.68%	-49.16%	116.67%	6.85%	59.18%	9.59%	-14.6%	-2.05%
EPS (Basic)	1.27	10.39	10.85	5.51	11.93	12.73	20.24	22.17	18.90	-
Diluted Shares Outstanding	599.3M	599.4M	567.5M	548.6M	548.5M	530.4M	513.6M	489.4M	469M	465.8M
Basic Shares Outstanding	591.8M	591.4M	561.6M	544.1M	544M	526.9M	510.6M	486.7M	466.5M	463.4M
Dividend Payout Ratio	242.84%	31.74%	34.99%	74.82%	35.94%	36.39%	24.8%	24.52%	30.98%	-

CAT Balance Sheet

Caterpillar Inc. (CAT) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Current Assets	36.24B	38.6B	39.19B	39.46B	43.45B	43.78B	46.95B	45.68B	52.48B	48.57B
Cash & Short-Term Investments	8.26B	7.86B	8.28B	9.35B	9.25B	7B	6.98B	6.89B	9.98B	4.07B
Cash Only	0	7.89B	8.29B	9.35B	9.25B	7B	6.98B	6.89B	9.98B	4.07B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	16.19B	17.45B	17.9B	16.78B	17.38B	17.87B	18.82B	18.85B	21.57B	0
Days Sales Outstanding	130.01	116.41	121.47	146.71	124.42	109.75	102.44	106.15	116.48	80.1
Inventory	10.02B	11.53B	11.27B	11.4B	14.04B	16.27B	16.57B	16.83B	18.14B	19.63B
Days Inventory Outstanding	114.6	111.56	110	140.26	142.46	141.68	138.05	148.05	144.75	143.94
Other Current Assets	0	0	0	0	0	0	4.59B	3.12B	2.8B	24.87B
Total Non-Current Assets	40.72B	39.91B	39.26B	38.86B	39.34B	38.16B	40.53B	42.08B	46.1B	46.98B
Property, Plant & Equipment	14.15B	13.57B	12.9B	12.4B	12.09B	12.03B	12.68B	13.36B	15.14B	15.25B
Fixed Asset Turnover	3.21x	4.03x	4.17x	3.37x	4.22x	4.94x	5.29x	4.85x	4.46x	4.83x
Goodwill	6.2B	6.22B	6.2B	6.39B	6.32B	5.29B	5.31B	5.24B	5.32B	5.87B
Intangible Assets	2.11B	1.9B	1.56B	1.31B	1.04B	758M	564M	399M	241M	419M
Long-Term Investments	0	0	0	0	15.61B	16.59B	17.77B	18.58B	16.41B	50.84B
Other Non-Current Assets	16.56B	16.78B	17.18B	17.23B	2.44B	1.28B	1.39B	1.19B	6.1B	36.28B
Total Assets	76.96B▲ 0%	78.51B▲ 2.0%	78.45B▼ 0.1%	78.32B▼ 0.2%	82.79B▲ 5.7%	81.94B▼ 1.0%	87.48B▲ 6.8%	87.76B▲ 0.3%	98.58B▲ 12.3%	95.55B▲ 0%
Asset Turnover	0.59x	0.70x	0.69x	0.53x	0.62x	0.73x	0.77x	0.74x	0.69x	0.75x
Asset Growth %	3.02%	2.01%	-0.07%	-0.16%	5.71%	-1.03%	6.75%	0.33%	12.33%	41.8%
Total Current Liabilities	26.93B	28.22B	26.62B	25.72B	29.85B	31.53B	34.73B	32.27B	36.56B	35.9B
Accounts Payable	6.49B	7.05B	5.96B	6.13B	8.15B	8.69B	7.91B	7.67B	8.97B	9.64B
Days Payables Outstanding	74.21	68.23	58.16	75.38	82.75	75.66	65.89	67.53	71.58	68.61
Short-Term Debt	11.03B	11.55B	11.38B	11.16B	11.76B	11.28B	13.41B	11.06B	12.63B	0
Deferred Revenue (Current)	1.43B	1.24B	1.19B	1.11B	1.09B	1.86B	1.93B	2.32B	3.31B	14.5B
Other Current Liabilities	1.74B	1.92B	2.15B	2.02B	2.26B	2.69B	3.12B	2.91B	9.09B	21.88B
Current Ratio	1.35x	1.37x	1.47x	1.53x	1.46x	1.39x	1.35x	1.42x	1.44x	1.44x
Quick Ratio	0.97x	0.96x	1.05x	1.09x	0.99x	0.87x	0.87x	0.89x	0.94x	0.94x
Cash Conversion Cycle	170.4	159.74	173.3	211.58	184.13	175.77	174.6	186.67	189.65	155.42
Total Non-Current Liabilities	36.27B	36.21B	37.2B	37.23B	36.43B	34.52B	33.24B	36B	40.71B	40.99B
Long-Term Debt	23.41B	24.5B	26.15B	25.9B	25.95B	25.83B	24.53B	27.45B	30.7B	0
Capital Lease Obligations	437M	497M	128M	103M	79M	-112M	-61M	-103M	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	12.42B	11.21B	10.92B	11.23B	10.4B	8.81B	8.77B	8.65B	10.01B	69.12B
Total Liabilities	63.2B	64.43B	63.82B	62.95B	66.28B	66.05B	67.97B	68.27B	77.27B	76.89B
Total Debt	34.88B	36.55B	37.66B	37.16B	37.79B	36.99B	37.88B	38.41B	43.33B	0
Net Debt	34.88B	28.66B	37.66B	27.81B	28.54B	29.99B	30.9B	31.52B	33.35B	-4.07B
Debt / Equity	2.53x	2.60x	2.57x	2.42x	2.29x	2.33x	1.94x	1.97x	2.03x	2.03x
Debt / EBITDA	4.75x	3.31x	3.47x	5.32x	4.09x	3.65x	2.51x	2.52x	3.22x	0.00x
Net Debt / EBITDA	4.75x	2.59x	3.47x	3.98x	3.09x	2.96x	2.05x	2.07x	2.48x	2.48x
Interest Coverage	8.84x	20.51x	19.74x	8.84x	17.92x	20.76x	26.54x	27.12x	12.23x	9.22x
Total Equity	13.77B▲ 0%	14.08B▲ 2.3%	14.63B▲ 3.9%	15.38B▲ 5.1%	16.52B▲ 7.4%	15.89B▼ 3.8%	19.5B▲ 22.7%	19.49B▼ 0.0%	21.32B▲ 9.4%	18.66B▲ 0%
Equity Growth %	4.19%	2.28%	3.9%	5.12%	7.4%	-3.78%	22.73%	-0.05%	9.36%	28%
Book Value per Share	22.97	23.49	25.78	28.03	30.11	29.96	37.97	39.83	45.45	40.06
Total Shareholders' Equity	13.7B	14.04B	14.59B	15.33B	16.48B	15.87B	19.49B	19.49B	21.32B	18.66B
Common Stock	5.59B	5.83B	5.93B	6.23B	6.4B	6.56B	6.4B	6.94B	7.18B	5.85B
Retained Earnings	26.3B	30.43B	34.44B	35.17B	39.28B	43.51B	51.25B	59.35B	65.45B	0
Treasury Stock	-17B	-20.53B	-24.22B	-25.18B	-27.64B	-31.75B	-36.34B	-44.33B	-49.54B	0
Accumulated OCI	-1.19B	-1.68B	-1.57B	-888M	-1.55B	-2.46B	-1.82B	-2.47B	-1.77B	-1.88B
Minority Interest	69M	41M	41M	47M	32M	22M	9M	3M	0	-1M

CAT Cash Flow Statement

Caterpillar Inc. (CAT) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	5.71B	6.56B	6.91B	6.33B	7.2B	7.77B	12.88B	12.04B	11.74B	11.74B
Operating CF Margin %	12.55%	11.98%	12.85%	15.16%	14.12%	13.07%	19.21%	18.57%	17.37%	-
Operating CF Growth %	1.19%	14.93%	5.4%	-8.46%	13.77%	7.89%	65.92%	-6.6%	-2.46%	58.96%
Net Income	759M	6.15B	6.09B	3B	6.49B	6.7B	10.33B	10.79B	8.88B	9.42B
Depreciation & Amortization	2.88B	2.77B	2.58B	2.43B	2.35B	2.22B	2.14B	2.15B	2.26B	2.32B
Stock-Based Compensation	206M	198M	205M	202M	200M	193M	208M	223M	242M	100M
Deferred Taxes	1.21B	220M	28M	-74M	-383M	-377M	-592M	-621M	465M	1.04B
Other Non-Cash Items	845M	1.3B	938M	1.18B	-817M	827M	642M	351M	236M	317M
Working Capital Changes	-194M	-4.08B	-2.93B	-417M	-647M	-1.8B	151M	-859M	-348M	-879M
Change in Receivables	-1.15B	-1.62B	171M	1.44B	-1.26B	-220M	-437M	-160M	-2.14B	-956M
Change in Inventory	-1.29B	-1.58B	274M	-34M	-2.59B	-2.59B	-364M	-414M	-1.48B	-1.99B
Change in Payables	1.48B	709M	-1.02B	98M	2.04B	798M	-754M	-282M	1.18B	1.72B
Cash from Investing	-966M	-3.21B	-1.93B	-1.49B	-3.08B	-2.54B	-5.87B	-2.45B	-4.71B	-6.31B
Capital Expenditures	-1.44B	-1.64B	-1.61B	-1.14B	-2.47B	-2.6B	-3.09B	-3.21B	-1.47B	-870M
CapEx % of Revenue	3.16%	3%	3%	2.72%	4.85%	4.37%	4.61%	4.96%	2.17%	-
Acquisitions	100M	16M	41M	25M	36M	1M	-4M	-61M	-47M	-847M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	547M	-1.13B	-286M	31M	823M	839M	-186M	-803M	-3.78B	-4.33B
Cash from Financing	-3.66B	-3.65B	-4.54B	-3.75B	-4.19B	-7.28B	-6.93B	-9.56B	-3.9B	-5.35B
Debt Issued (Net)	-2.38B	1.84B	1.41B	-610M	681M	-652M	594M	799M	4.13B	-24M
Equity Issued (Net)	566M	-3.48B	-3.81B	-901M	-2.53B	-4.18B	-4.96B	-7.68B	-5.19B	-6.59B
Dividends Paid	-1.83B	-1.95B	-2.13B	-2.24B	-2.33B	-2.44B	-2.56B	-2.65B	-2.75B	-2.78B
Share Repurchases	0	-3.8B	-4.05B	-1.13B	-2.67B	-4.23B	-4.97B	-7.7B	-5.19B	-6.49B
Other Financing	-9M	-54M	-3M	-1M	-4M	-10M	0	-41M	-90M	4.04B
Net Change in Cash	1.12B▲ 0%	-430M▼ 138.4%	402M▲ 193.5%	1.07B▲ 167.2%	-103M▼ 109.6%	-2.25B▼ 2084.5%	-28M▲ 98.8%	-89M▼ 217.9%	3.09B▲ 3571.9%	514M▲ 0%
Free Cash Flow	3.37B▲ 0%	3.64B▲ 8.1%	4.24B▲ 16.5%	4.21B▼ 0.7%	4.73B▲ 12.2%	5.17B▲ 9.3%	9.79B▲ 89.5%	8.82B▼ 9.9%	10.27B▲ 16.5%	11.45B▲ 0%
FCF Margin %	7.41%	6.66%	7.89%	10.09%	9.27%	8.69%	14.6%	13.61%	15.2%	16.18%
FCF Growth %	24.31%	8.07%	16.5%	-0.73%	12.2%	9.33%	89.53%	-9.94%	16.49%	45.4%
FCF per Share	5.62	6.08	7.48	7.68	8.62	9.74	19.07	18.02	21.91	21.91
FCF Conversion (FCF/Net Income)	7.57x	1.07x	1.13x	2.11x	1.11x	1.16x	1.25x	1.12x	1.32x	1.22x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

CAT Key Ratios

Caterpillar Inc. (CAT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	5.59%	44.15%	42.45%	19.98%	40.69%	41.38%	58.4%	55.35%	43.48%	47.51%
Return on Invested Capital (ROIC)	6.78%	13.61%	14.34%	7.83%	11.69%	13.04%	20.2%	19.33%	15.91%	15.91%
Gross Margin	29.82%	31.07%	30.51%	28.93%	29.43%	29.47%	34.69%	35.99%	32.34%	32.52%
Net Margin	1.66%	11.23%	11.33%	7.18%	12.73%	11.28%	15.41%	16.65%	13.13%	13.31%
Debt / Equity	2.53x	2.60x	2.57x	2.42x	2.29x	2.33x	1.94x	1.97x	2.03x	2.03x
Interest Coverage	8.84x	20.51x	19.74x	8.84x	17.92x	20.76x	26.54x	27.12x	12.23x	9.22x
FCF Conversion	7.57x	1.07x	1.13x	2.11x	1.11x	1.16x	1.25x	1.12x	1.32x	1.22x
Revenue Growth	17.97%	20.37%	-1.68%	-22.4%	22.09%	16.59%	12.84%	-3.36%	4.29%	11.85%

CAT SEC Filings & Documents

Caterpillar Inc. (CAT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 30, 2026·SEC

Material company update

Apr 13, 2026·SEC

Material company update

Apr 10, 2026·SEC

10-K Annual Reports

FY 2026

Feb 13, 2026·SEC

FY 2025

Feb 14, 2025·SEC

10-Q Quarterly Reports

FY 2025

Nov 3, 2025·SEC

FY 2025

Aug 6, 2025·SEC

FY 2025

May 7, 2025·SEC

CAT Frequently Asked Questions

Caterpillar Inc. (CAT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Caterpillar Inc. (CAT) reported $70.75B in revenue for fiscal year 2025. This represents a 328% increase from $16.52B in 1996.

Caterpillar Inc. (CAT) grew revenue by 4.3% over the past year. Growth has been modest.

Yes, Caterpillar Inc. (CAT) is profitable, generating $9.42B in net income for fiscal year 2025 (13.1% net margin).

Dividend & Returns

Yes, Caterpillar Inc. (CAT) pays a dividend with a yield of 0.65%. This makes it attractive for income-focused investors.

Caterpillar Inc. (CAT) has a return on equity (ROE) of 43.5%. This is excellent, indicating efficient use of shareholder capital.

Caterpillar Inc. (CAT) generated $11.45B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Caterpillar Inc.(CAT)Earnings, Financials & Key Ratios

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