Caterpillar Inc (CAT)

Caterpillar Inc. provides construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. The Construction Industries segment offers asphalt pavers, cold planers, compactors, forestry machines, material handlers, motor graders, pipelayers, road reclaimers, telehandlers, track-type tractors, and track and wheel excavators; backhoe, compact track, skid steer, track-type, and wheel loaders; and related parts and work tools. Its Resource Industries segment provides electric rope and hydraulic shovels, draglines, rotary drills, hard rock vehicles, mining trucks, wheel loaders, off-highway and articulated trucks, wide-body trucks, wheel tractor scrapers and dozers, and landfill and soil compactors; machinery components, and wear and maintenance components; and technology products and services for fleet management, equipment management analytics, autonomous machine capabilities, safety services, and mining performance solutions. The Energy & Transportation segment offers reciprocating engine powered generator sets; reciprocating engines, drivetrain, and integrated systems and solutions; centrifugal gas compressors and related services; and diesel-electric locomotive components, and other rail-related products. Its Financial Products segment provides operating and finance leases, revolving charge accounts, installment sale contracts, repair/rebuild financing, working capital loans, and wholesale financing; and insurance and risk management products and services. The All Other segment offers parts distribution; logistics and distribution services; electronics and control systems; dealer portfolio management; brand management and marketing strategy; and digital investment services. It also provides mining software solutions. The company was formerly known as Caterpillar Tractor Co. Caterpillar Inc. was incorporated in 1925 and is headquartered in Irving, Texas.

Symbol
CAT
Exchange
NYSE
Sector
Industrials
Industry
Farm & Heavy Construction Machinery
Market cap
$378.39B
52 week range
471.14 - 1073.46

Valuation

Share price
$826.35 (close of 2026-10-01)
P/E (TTM)
35.27x
Price to book
19.51x
Price to free cash flow
35.37x
Enterprise value
$416.83B
Book value per share
$42.19

Price performance

PeriodChange
1 day+1.92%
5 days+2.62%
1 month+6.06%
3 months-16.65%
6 months+13.15%
Year to date+44.25%
1 year+71.86%
3 years+202.69%
5 years+325.23%
10 years+830.89%
All time+23782.95%

Members of Congress who disclosed CAT trades

Marjorie Taylor Greene · Jefferson Shreve · Bruce Westerman · Robert Bresnahan · Gilbert Ray Cisneros · Jared Moskowitz · John Boozman · Markwayne Mullin · Tim Walberg

Super investors holding CAT

Bill Gates (Gates Foundation Trust)

Profitability and growth

Return on equity
41.66%
Return on invested capital
15.33%
Return on assets
9.01%
Return on capital employed
17.98%
Gross margin
33.79%
Net margin
13.14%
EBITDA margin
19.84%
Revenue growth
4.29%
Net income growth
-17.67%
Free cash flow growth
-11.24%

Cash flow and balance sheet

Free cash flow yield (TTM)
2.83%
Current ratio
1.37x
Net debt to EBITDA
2.28x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$67.59B
Cost of revenue
$44.75B
Gross profit
$22.84B
EBITDA
$13.41B
Net income
$8.88B
Earnings per share
$18.90
Research and development
$2.15B
Shares outstanding
470.00M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$67.59B$22.84B$8.88B$18.90
2024-12-31$64.81B$24.61B$10.79B$22.17
2023-12-31$67.06B$24.29B$10.33B$20.24
2022-12-31$59.43B$18.08B$6.70B$12.72
2021-12-31$50.97B$15.46B$6.49B$11.93
2020-12-31$41.75B$12.67B$3.00B$5.51
2019-12-31$53.80B$17.17B$6.09B$10.85
2018-12-31$54.72B$17.73B$6.15B$10.39
2017-12-31$45.46B$14.20B$759.00M$1.27
2016-12-31$38.54B$10.49B-$59.00M$-0.11

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3133.79%13.14%41.66%15.33%
2024-12-3137.97%16.65%55.34%20.47%
2023-12-3136.23%15.41%52.98%20.21%
2022-12-3130.42%11.28%42.19%12.72%
2021-12-3130.33%12.74%39.31%13.06%
2020-12-3130.34%7.19%19.53%10.23%
2019-12-3131.91%11.33%41.66%17.03%
2018-12-3132.39%11.23%43.66%17.85%
2017-12-3131.24%1.67%5.51%6.52%
2016-12-3127.23%-0.15%-0.45%2.68%

Cash and debt by year

Period endCashDebt
2025-12-31$9.98B$30.70B
2024-12-31$6.89B$27.35B
2023-12-31$6.98B$24.47B
2022-12-31$7.00B$25.71B
2021-12-31$9.25B$26.03B
2020-12-31$9.35B$26.00B
2019-12-31$8.28B$26.28B
2018-12-31$7.86B$25.00B
2017-12-31$8.26B$23.85B
2016-12-31$7.17B$22.82B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$8.92B$242.00M
2024-12-31$10.05B$223.00M
2023-12-31$11.29B$208.00M
2022-12-31$6.47B$193.00M
2021-12-31$6.11B$200.00M
2020-12-31$5.35B$202.00M
2019-12-31$5.86B$205.00M
2018-12-31$5.28B$197.00M
2017-12-31$4.81B$206.00M
2016-12-31$4.53B$218.00M

Dividend history

Most recent payment
2026-07-20
Paid in the last twelve months
$6.16
Payment dateDividend per share
2026-07-20$1.63
2026-04-20$1.51
2026-01-20$1.51
2025-10-20$1.51
2025-07-21$1.51
2025-04-21$1.41
2025-01-21$1.41
2024-10-21$1.41

Investor relations

Next earnings report

Next confirmed report
2026-11-04
Consensus EPS estimate
$6.95

Past earnings dates

ReportedFiscal periodEPS estimate
2026-08-04Jun/2026$6.25
2026-04-30--
2026-01-29--
2025-10-29--
2025-08-05--
2025-08-04--
2025-04-30--
2025-04-23--

Filings and sources

Company website
caterpillar.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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