Caterpillar Inc. (CAT) Earnings History
Elite Compounder37 years of earnings data (1989–2025) · 5-year EPS CAGR exceeds 18% — top-tier earnings quality
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Caterpillar Inc. (CAT) Earnings Overview
As of June 20, 2026, Caterpillar Inc. (CAT) reported trailing twelve-month net income of $9.42B, reflecting -14.6% year-over-year growth. The company earned $20.22 per diluted share over the past four quarters, with a net profit margin of 13.1%.
Looking at the long-term picture, CAT's 5-year EPS compound annual growth rate (CAGR) stands at +28.1%, indicating exceptional earnings growth. The company achieved its highest annual net income of $10.79B in fiscal 2024.
Caterpillar Inc. maintains positive profitability with a gross margin of 32.3%, operating margin of 16.6%, and net margin of 13.1%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including DE ($4.78B net income, 11.3% margin), CNH ($386M net income, 2.8% margin), AGCO ($771M net income, 7.2% margin), CAT has outperformed on profitability metrics. Compare CAT vs DE →
CAT Earnings vs Peers
Earnings metrics vs comparable public companies
CAT Historical Earnings Data (1989–2025)
37 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $8.87B | -17.8% | $11.21B | $18.83 | 13.1% | 16.6% |
| 2024 | $10.79B | +4.4% | $13.07B | $22.05 | 16.7% | 20.2% |
| 2023 | $10.34B | +54.1% | $12.97B | $20.12 | 15.4% | 19.3% |
| 2022 | $6.71B | +3.3% | $7.90B | $12.64 | 11.3% | 13.3% |
| 2021 | $6.49B | +116.4% | $6.88B | $11.83 | 12.7% | 13.5% |
| 2020 | $3.00B | -50.8% | $4.55B | $5.46 | 7.2% | 10.9% |
| 2019 | $6.09B | -0.9% | $8.29B | $10.74 | 11.3% | 15.4% |
| 2018 | $6.15B | +715.3% | $8.29B | $10.26 | 11.2% | 15.2% |
| 2017 | $754M | +1225.4% | $4.46B | $1.26 | 1.7% | 9.8% |
| 2016 | -$67M | -102.7% | $1.16B | $-0.11 | -0.2% | 3.0% |
| 2015 | $2.51B | +2.4% | $3.79B | $4.18 | 5.3% | 8.1% |
| 2014 | $2.45B | -35.3% | $3.31B | $5.88 | 4.4% | 6.0% |
| 2013 | $3.79B | -33.3% | $5.63B | $5.75 | 6.8% | 10.1% |
| 2012 | $5.68B | +15.3% | $8.57B | $8.48 | 8.6% | 13.0% |
| 2011 | $4.93B | +82.5% | $7.15B | $7.40 | 8.2% | 11.9% |
| 2010 | $2.70B | +201.7% | $3.96B | $4.15 | 6.3% | 9.3% |
| 2009 | $895M | -74.8% | $577M | $1.43 | 2.8% | 1.8% |
| 2008 | $3.56B | +0.5% | $4.45B | $5.66 | 6.9% | 8.7% |
| 2007 | $3.54B | +0.1% | $4.92B | $5.37 | 7.9% | 10.9% |
| 2006 | $3.54B | +23.9% | $4.92B | $5.17 | 8.5% | 11.9% |
| 2005 | $2.85B | +40.2% | $3.78B | $4.04 | 7.9% | 10.4% |
| 2004 | $2.04B | +85.2% | $2.68B | $3.86 | 6.7% | 8.9% |
| 2003 | $1.10B | +37.7% | $1.67B | $1.56 | 4.8% | 7.3% |
| 2002 | $798M | -0.9% | $1.32B | $1.15 | 4.0% | 6.6% |
| 2001 | $805M | -23.6% | $1.31B | $1.16 | 3.9% | 6.4% |
| 2000 | $1.05B | +11.3% | $2.42B | $1.51 | 5.2% | 12.0% |
| 1999 | $946M | -37.5% | $2.05B | $1.32 | 4.8% | 10.4% |
| 1998 | $1.51B | -9.1% | $2.74B | $2.06 | 7.2% | 13.1% |
| 1997 | $1.67B | +22.3% | $2.79B | $2.18 | 8.8% | 14.7% |
| 1996 | $1.36B | +19.8% | $2.29B | $1.75 | 8.2% | 13.8% |
| 1995 | $1.14B | +19.0% | $1.97B | $1.42 | 7.1% | 12.3% |
| 1994 | $955M | +46.5% | $1.64B | $1.16 | 6.7% | 11.5% |
| 1993 | $652M | +126.8% | $798M | $0.76 | 5.6% | 6.9% |
| 1992 | -$2.44B | -502.7% | $31M | $-3.02 | -23.9% | 0.3% |
| 1991 | -$404M | -292.4% | -$180M | $-0.50 | -4.0% | -1.8% |
| 1990 | $210M | -57.7% | $542M | $0.26 | 1.8% | 4.7% |
| 1989 | $497M | - | $826M | $0.62 | 4.5% | 7.4% |
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CAT — Frequently Asked Questions
Quick answers to the most common questions about buying CAT stock.
What is CAT earnings per share (EPS)?
CAT trailing twelve-month (TTM) diluted EPS is $20.22, reflecting -14.6% year-over-year growth. The 5-year EPS CAGR is +28.1%. Complete EPS history from 1989 to 2025 is available in the table on this page.
What is Caterpillar Inc.'s net income?
Caterpillar Inc. (CAT) trailing twelve-month net income is $9.4B as of 2025. Earnings declined -14.6% year-over-year. Caterpillar Inc. has been profitable for 9 consecutive years.
Is CAT profitable?
Yes, CAT is profitable with a TTM net income of $9.4B and a net profit margin of +13.1%. Caterpillar Inc. has generated profits for 9 consecutive years.
What is CAT's earnings growth rate?
CAT compound annual EPS growth rates (CAGR): 1-Year: -14.6%, 3-Year: +14.2%, 5-Year: +28.1%, 10-Year: +16.2%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1989 to 2025.
What are CAT's profit margins?
Caterpillar Inc. net profit margin is +13.1%, operating margin is +16.6%, and gross margin is +32.3%. Margins are within a typical range for the sector. Return on Equity is +43.5%.
Is CAT growing earnings?
CAT earnings are declining — EPS fell -14.6% year-over-year. TTM net income dropped to $9.4B. This contrasts with the 5-year CAGR of +28.1%.
What was CAT's best earnings year?
Caterpillar Inc.'s highest annual net income on record is $10.8B, achieved in fiscal year 2024. Earnings history on this page spans 1989 to 2025 and includes all annual and quarterly figures.
What were CAT's earnings last quarter?
CAT's most recent reported quarter was Q1 2026. Net income was $2.5B with diluted EPS of $5.47. For a full breakdown of all quarters, see the quarterly earnings table on this page.