Caterpillar Inc. (CAT) quarterly cash flow statement — complete operating, investing & financing history
Caterpillar Inc. (CAT) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 4.37B | 1.87B | 3.59B | 3.74B | 3.12B | 1.29B | 3.39B | 3.57B | 3.02B | 2.05B | 4B | 4.06B | 3.25B | 1.57B | 2.74B | 2.48B | 2.23B | 313M | 1.41B | 1.74B |
| Operating CF Margin % | 21.28% | 10.74% | 18.77% | 21.19% | 18.84% | 9.05% | 20.93% | 22.16% | 18.1% | 12.99% | 23.45% | 24.15% | 18.76% | 9.92% | 16.5% | 16.55% | 15.67% | 2.3% | 10.23% | 14.04% |
| Operating CF Growth % | 40.01% | 45.07% | 5.84% | 4.71% | 3.34% | -37.18% | -15.24% | -12.09% | -7.02% | 30.45% | 46.15% | 63.64% | 45.5% | 402.56% | 93.98% | 42.59% | 5.43% | -83.77% | -31.85% | 0.35% |
| Net Income | 3.59B | 2.55B | 2.4B | 2.3B | 2.18B | 2B | 2.79B | 2.46B | 2.68B | 2.85B | 2.67B | 2.79B | 2.92B | 1.94B | 1.45B | 2.04B | 1.67B | 1.54B | 2.12B | 1.43B |
| Depreciation & Amortization | 616M | 595M | 598M | 570M | 554M | 540M | 555M | 543M | 531M | 524M | 545M | 525M | 542M | 532M | 558M | 551M | 553M | 557M | 586M | 593M |
| Stock-Based Compensation | 92M | -97M | 41M | 71M | 85M | 45M | 52M | 52M | 75M | 44M | 30M | 60M | 74M | 44M | 31M | 55M | 67M | 40M | 31M | 58M |
| Deferred Taxes | -110M | 534M | 165M | 410M | -72M | -38M | -292M | -196M | -79M | -54M | -144M | -93M | -164M | -191M | -28M | -66M | -184M | -99M | -62M | -389M |
| Other Non-Cash Items | 177M | 164M | -122M | 40M | 235M | 33M | 137M | 64M | 263M | -113M | 43M | 39M | -85M | 645M | 857M | 28M | 34M | -92M | -750M | 64M |
| Working Capital Changes | 3M | -1.88B | 508M | 347M | 141M | -1.29B | 151M | 643M | -450M | -1.2B | 856M | 736M | -42M | -1.4B | -133M | -127M | 90M | -1.63B | -513M | -14M |
| Change in Receivables | -2.38B | -801M | 788M | -469M | -474M | 155M | -130M | 215M | -164M | -81M | -118M | 146M | -136M | -329M | -585M | 82M | 655M | -372M | -933M | 17M |
| Change in Inventory | -1.05B | -1.5B | 538M | -376M | -649M | -990M | 367M | -138M | -204M | -439M | 1.06B | 136M | -157M | -1.4B | 499M | -1.08B | -971M | -1.03B | -391M | -1.02B |
| Change in Payables | 590M | 938M | 93M | 113M | 572M | 401M | -186M | -75M | -224M | 203M | -222M | -566M | -443M | 477M | 12M | 359M | -25M | 452M | 809M | 339M |
| Cash from Investing | -1.66B | -1.77B | -1.88B | -1.32B | -1.33B | -175M | -1.65B | -1.04B | -722M | 958M | -554M | -3.44B | -1.2B | -683M | -843M | 190M | -575M | -1.31B | -992M | -375M |
| Capital Expenditures | -1.11B | -323M | -444M | 297M | -400M | -918M | -1.04B | -723M | -719M | -736M | -854M | -781M | -707M | -750M | -708M | -617M | -595M | -679M | -785M | -587M |
| CapEx % of Revenue | 5.41% | 1.85% | 2.32% | 1.68% | 2.41% | 6.44% | 6.4% | 4.49% | 4.31% | 4.66% | 5% | 4.65% | 4.08% | 4.73% | 4.27% | 4.12% | 4.18% | 5% | 5.69% | 4.74% |
| Acquisitions | -92M | -788M | -21M | -19M | -19M | 12M | 6M | -6M | -103M | 42M | 10M | 0 | 0 | -14M | 0 | 0 | 1M | 0 | 13M | -5M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -132M | -558M | -1.33B | -1.56B | -877M | -13M | -327M | -209M | -327M | 60M | -130M | -280M | -159M | 383M | 284M | 220M | 94M | 241M | 292M | 554M |
| Cash from Financing | -83M | -5.95B | 751M | -305M | 151M | -4.5B | -426M | -1.21B | -2.93B | -5B | -3.03B | -1.4B | -1.39B | -1.11B | -1.12B | -2.27B | -2.18B | -1.72B | -586M | -2.75B |
| Debt Issued (Net) | 2.18B | -122M | -2.35B | 744M | 1.71B | -98M | 930M | 248M | -490M | 111M | 419M | -415M | 651M | -61M | 378M | -246M | -512M | -272M | 1.05B | -765M |
| Equity Issued (Net) | -1.52B | -5.13B | -301M | -342M | -823M | -3.72B | -635M | -775M | -1.8B | -4.46B | -2.79B | -322M | -1.43B | -425M | -872M | -1.39B | -1.07B | -848M | -1.03B | -1.37B |
| Dividends Paid | -696M | -703M | -706M | -707M | -662M | -674M | -680M | -683M | -635M | -648M | -662M | -663M | -618M | -620M | -620M | -633M | -592M | -595M | -599M | -607M |
| Share Repurchases | -1.52B | -5.03B | -340M | -303M | -823M | -3.72B | -640M | -782M | -1.82B | -4.46B | -2.77B | -380M | -1.43B | -400M | -921M | -1.39B | -1.1B | -820M | -1.05B | -1.37B |
| Other Financing | -49M | 0 | 4.11B | 0 | -73M | 0 | -41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -9M | -1M | 0 | 0 | 0 | -2M |
| Net Change in Cash | 2.64B | -5.91B | 2.44B | 2.1B | 1.88B | -3.33B | 1.25B | 1.3B | -617M | -2.02B | 425M | -834M | 598M | -217M | 658M | 332M | -509M | -2.73B | -186M | -1.39B |
| Free Cash Flow | 3.26B | 1.55B | 3.15B | 4.59B | 2.17B | 371M | 2.36B | 2.85B | 2.3B | 1.32B | 3.15B | 3.28B | 2.54B | 823M | 2.03B | 1.86B | 1.64B | -366M | 627M | 1.15B |
| FCF Margin % | 15.87% | 8.88% | 16.45% | 26.02% | 13.08% | 2.6% | 14.53% | 17.67% | 13.79% | 8.33% | 18.45% | 19.51% | 14.68% | 5.19% | 12.24% | 12.43% | 11.5% | -2.69% | 4.54% | 9.3% |
| FCF Growth % | 50.44% | 316.98% | 33.57% | 61.24% | -5.86% | -71.81% | -25.18% | -13.21% | -9.44% | 59.9% | 55.05% | 75.91% | 55.19% | 324.86% | 223.92% | 61.67% | 7.62% | -125.7% | -56.7% | -7.09% |
| FCF per Share | 7.05 | 3.32 | 6.71 | 9.75 | 4.60 | 0.78 | 4.84 | 5.85 | 4.70 | 2.65 | 6.21 | 6.40 | 4.94 | 1.58 | 3.90 | 3.53 | 3.07 | -0.68 | 1.16 | 2.11 |
| FCF Conversion (FCF/Net Income) | 1.22x | 0.73x | 1.50x | 1.63x | 1.43x | 0.64x | 1.22x | 1.45x | 1.13x | 0.72x | 1.50x | 1.45x | 1.11x | 0.81x | 1.88x | 1.22x | 1.33x | 0.20x | 0.67x | 1.22x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |