Caterpillar Inc. (CAT) Earnings History
Annual and quarterly earnings data from 1989 to 2025
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CAT EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
CAT Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 32.3% | 16.6% | 13.1% |
| 2024 | 36.0% | 20.2% | 16.7% |
| 2023 | 34.7% | 19.3% | 15.4% |
| 2022 | 29.5% | 13.3% | 11.3% |
| 2021 | 29.4% | 13.5% | 12.7% |
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Caterpillar Inc. (CAT) Earnings Overview
As of May 6, 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 ($4.08B 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% |
Full CAT Stock Analysis
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Start ComparisonCAT — Frequently Asked Questions
Quick answers to the most common questions about buying CAT stock.
Is CAT growing earnings?
CAT EPS fell to $20.22, with earnings declining -14.6%. This contrasts with the 5-year CAGR of +28.1%. TTM net income dropped to $9.4B.
What are CAT's profit margins?
Caterpillar Inc. net margin is +13.1%, with operating margin at +16.6%. Margins sit within typical range for the sector.
How consistent are CAT's earnings?
CAT earnings data spans 1989-2025. The declining earnings trend is -14.6% YoY. Historical data enables comparison across business cycles.