CAT · Caterpillar Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | FY 2025 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | FY 2024 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.41B | - | $19.13B | $17.64B | $16.57B | $14.25B | - | $16.21B | $16.11B | $16.69B |
| Cost of Revenue | $11.31B | - | - | $11.67B | $10.81B | $8.96B | - | - | $10.07B | $10.15B |
| Gross Profit | $6.11B | - | - | $5.96B | $5.76B | $5.28B | - | - | $6.04B | $6.54B |
| R&D | $537.00M | - | - | $555.00M | $551.00M | $480.00M | - | - | $533.00M | $535.00M |
| SG&A | $1.82B | - | - | $1.82B | $1.69B | $1.59B | - | - | $1.67B | $1.65B |
| Total Operating Expenses | $14.33B | - | - | $14.59B | $13.71B | $11.67B | - | - | $12.96B | $13.21B |
| D&A | $595.00M | - | $598.00M | $570.00M | $554.00M | $540.00M | - | $555.00M | $543.00M | $531.00M |
| Operating Income | $3.08B | - | $3.03B | $3.05B | $2.86B | $2.58B | - | $3.24B | $3.15B | $3.48B |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $670.00M | - | - | $836.00M | $646.00M | $574.00M | - | - | $642.00M | $836.00M |
| Net Income | $2.55B | - | - | $2.30B | $2.18B | $2.00B | - | - | $2.46B | $2.68B |
| EPS - Basic | $5.50 | - | - | $4.91 | $4.64 | $4.22 | - | - | $5.09 | $5.50 |
| EPS - Diluted | $5.47 | - | - | $4.88 | $4.62 | $4.20 | - | - | $5.06 | $5.48 |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | FY 2025 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | FY 2024 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.07B | $9.98B | - | $7.54B | $5.44B | $3.56B | $6.89B | - | $5.64B | $4.34B |
| Accounts Receivable | $11.45B | $10.92B | - | $10.15B | $9.70B | $9.12B | $9.28B | - | $9.09B | $9.42B |
| Inventory | $19.63B | $18.14B | - | $18.96B | $18.59B | $17.86B | $16.83B | - | $17.31B | $17.08B |
| Accounts Payable | $9.64B | $8.97B | - | $8.73B | $8.56B | $7.79B | $7.67B | - | $7.71B | $7.58B |
| Current Assets | $48.57B | $52.48B | - | $49.82B | $46.76B | $43.02B | $45.68B | - | $44.95B | $43.10B |
| Total Assets | $95.55B | $98.58B | - | $93.72B | $90.33B | $84.97B | $87.76B | - | $86.27B | $83.34B |
| Current Liabilities | $35.90B | $36.56B | - | $35.99B | $34.93B | $32.59B | $32.27B | - | $32.22B | $33.56B |
| Long-term Debt | - | $30.70B | - | - | - | - | $27.35B | - | - | - |
| Total Liabilities | $76.89B | $77.27B | - | $73.06B | $71.66B | $66.90B | $68.27B | - | $66.87B | $66.20B |
| Stockholders' Equity | $18.66B | $21.32B | - | $20.66B | $18.66B | $18.07B | $19.49B | - | $19.40B | $17.14B |
| Retained Earnings | $68.00B | $65.45B | - | $64.46B | $62.16B | $61.36B | $59.35B | - | $57.92B | $55.45B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | FY 2025 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | FY 2024 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.87B | - | - | - | - | $1.29B | - | - | - | - |
| Investing Cash Flow | ($1.77B) | - | - | - | - | ($175.00M) | - | - | - | - |
| Financing Cash Flow | ($5.95B) | - | - | - | - | ($4.50B) | - | - | - | - |
| CapEx | $728.00M | - | - | - | - | $710.00M | - | - | - | - |
| Free Cash Flow | $1.14B | - | - | - | - | $579.00M | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | FY 2025 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | FY 2024 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 35.1% | - | - | 33.8% | 34.8% | 37.1% | - | - | 37.5% | 39.2% |
| Operating margin | 17.7% | - | 15.8% | 17.3% | 17.3% | 18.1% | - | 20.0% | 19.5% | 20.9% |
| EBITDA margin | 21.1% | - | 18.9% | 20.5% | 20.6% | 21.9% | - | 23.4% | 22.9% | 24.0% |
| Net margin | 14.6% | - | - | 13.0% | 13.2% | 14.1% | - | - | 15.3% | 16.1% |
| Free cash flow margin | 6.6% | - | - | - | - | 4.1% | - | - | - | - |
| FCF / Net income | 0.45 | - | - | - | - | 0.29 | - | - | - | - |
| R&D / Revenue | 3.1% | - | - | 3.1% | 3.3% | 3.4% | - | - | 3.3% | 3.2% |
| SG&A / Revenue | 10.4% | - | - | 10.3% | 10.2% | 11.2% | - | - | 10.4% | 9.9% |
| Effective tax rate | 20.8% | - | - | 26.7% | 22.9% | 22.3% | - | - | 20.7% | 23.8% |
| Return on assets | 2.7% | - | - | 2.5% | 2.4% | 2.4% | - | - | 2.9% | 3.2% |
| Return on equity | 13.7% | - | - | 11.1% | 11.7% | 11.1% | - | - | 12.7% | 15.6% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.35 | 1.44 | - | 1.38 | 1.34 | 1.32 | 1.42 | - | 1.40 | 1.28 |
| Quick ratio | 0.81 | 0.94 | - | 0.86 | 0.81 | 0.77 | 0.89 | - | 0.86 | 0.78 |
| Cash ratio | 0.11 | 0.27 | - | 0.21 | 0.16 | 0.11 | 0.21 | - | 0.17 | 0.13 |
| Leverage | ||||||||||
| Debt / Equity | - | 1.44 | - | - | - | - | 1.40 | - | - | - |
| Debt / Assets | - | 0.31 | - | - | - | - | 0.31 | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 5.12 | 4.62 | - | 4.54 | 4.84 | 4.70 | 4.50 | - | 4.45 | 4.86 |
| Liabilities / Assets | 0.80 | 0.78 | - | 0.78 | 0.79 | 0.79 | 0.78 | - | 0.78 | 0.79 |
| Efficiency | ||||||||||
| Asset turnover | 0.18 | - | - | 0.19 | 0.18 | 0.17 | - | - | 0.19 | 0.20 |
| Inventory turnover | 0.58 | - | - | 0.62 | 0.58 | 0.50 | - | - | 0.58 | 0.59 |
| Days sales outstanding | 240d | - | - | 210d | 214d | 234d | - | - | 206d | 206d |
| Days inventory outstanding | 634d | - | - | 593d | 628d | 727d | - | - | 628d | 614d |
| Days payable outstanding | 311d | - | - | 273d | 289d | 317d | - | - | 279d | 272d |
| Cash conversion cycle | 562d | - | - | 530d | 553d | 644d | - | - | 554d | 548d |
| Valuation | ||||||||||
| P / E | 129.5x | - | - | 97.8x | 84.0x | 78.5x | - | - | 77.3x | 60.8x |
| P / B | 17.7x | - | - | 10.9x | 9.8x | 8.7x | - | - | 9.8x | 9.5x |
| P / S | 18.9x | - | - | 12.7x | 11.0x | 11.0x | - | - | 11.8x | 9.8x |
| EV / EBITDA | 88.6x | - | - | 59.9x | 52.0x | 49.3x | - | - | 50.1x | 39.5x |
| Growth | ||||||||||
| Revenue growth (YoY) | 22.2% | - | 18.0% | 9.5% | -0.7% | -9.8% | - | - | -4.2% | -3.6% |
| Revenue CAGR (3y) | 3.2% | - | - | 5.6% | 5.2% | 1.6% | - | - | 9.1% | 9.0% |
| Revenue CAGR (5y) | 7.9% | - | - | 12.3% | 10.6% | 6.0% | - | - | 4.8% | 2.9% |
| Gross profit growth (YoY) | 15.6% | - | - | -1.2% | -11.9% | -13.9% | - | - | -3.0% | 4.6% |
| Operating income growth (YoY) | 19.6% | - | -6.7% | -3.0% | -17.9% | -26.7% | - | - | -8.8% | -4.7% |
| Net income growth (YoY) | 27.3% | - | - | -6.7% | -18.7% | -29.9% | - | - | -11.8% | -8.2% |
| EPS growth (YoY) | 30.2% | - | - | -3.6% | -15.7% | -27.0% | - | - | -7.2% | -3.4% |
| EPS CAGR (3y) | 13.5% | - | - | 8.0% | 13.9% | 13.7% | - | - | 24.9% | 28.9% |
| EPS CAGR (5y) | 14.6% | - | - | 32.0% | 40.6% | 16.2% | - | - | 13.7% | 14.1% |
| FCF growth (YoY) | 97.2% | - | - | - | - | -62.7% | - | - | - | - |
| FCF CAGR (5y) | -7.4% | - | - | - | - | -6.8% | - | - | - | - |
| Book value growth (YoY) | 3.3% | 9.4% | - | 6.5% | 8.9% | 2.4% | -0.0% | - | -5.4% | -6.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$136.74B totalReportable Segment Aggregation Before Other Operating Segment$68.35B · 50.0%
Power Energy$27.14B · 19.8%
Construction Industries$24.80B · 18.1%
Resource Industries$12.19B · 8.9%
Financial Products Segment$4.22B · 3.1%
All Other Segments$46.00M · 0.0%
Product / service
$67.59B totalMachinery Power Energy$63.98B · 94.7%
Financial Products$3.61B · 5.3%
Geographic
$92.39B totalNon Us$34.71B · 37.6%
US$32.88B · 35.6%
North America$14.06B · 15.2%
EMEA$4.59B · 5.0%
Asia Pacific$3.78B · 4.1%
Latin America$2.36B · 2.6%
Peer comparison
Same SIC group: Construction Machinery & Equip
Comparing CATERPILLAR INC against the 5 most active filers in the same SIC group.
Dividends
$6.04/share trailing 12 months · +7.1% YoY
| Ex-date | Per share |
|---|---|
| Apr 20, 2026 | $1.5100 |
| Jan 20, 2026 | $1.5100 |
| Oct 20, 2025 | $1.5100 |
| Jul 21, 2025 | $1.5100 |
| Apr 21, 2025 | $1.4100 |
| Jan 21, 2025 | $1.4100 |
| Oct 21, 2024 | $1.4100 |
| Jul 22, 2024 | $1.4100 |
| Apr 19, 2024 | $1.3000 |
| Jan 19, 2024 | $1.3000 |
| Oct 20, 2023 | $1.3000 |
| Jul 19, 2023 | $1.3000 |
| Apr 21, 2023 | $1.2000 |
| Jan 19, 2023 | $1.2000 |
| Oct 21, 2022 | $1.2000 |
| Jul 19, 2022 | $1.2000 |
| Apr 22, 2022 | $1.1100 |
| Jan 19, 2022 | $1.1100 |
| Oct 22, 2021 | $1.1100 |
| Jul 19, 2021 | $1.1100 |
| Apr 23, 2021 | $1.0300 |
| Jan 19, 2021 | $1.0300 |
| Oct 23, 2020 | $1.0300 |
| Jul 17, 2020 | $1.0300 |