Caterpillar Inc (CAT) financials
Caterpillar revenue and earnings by year
Caterpillar's revenue was $67.6 billion in the fiscal year to December 31, 2025, up 4.3% from the year before. Net income was $8.88 billion, 13.1% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 6.4% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 67.6 | 64.8 | 67.1 | 59.4 | 51.0 | 41.7 | 53.8 | 54.7 | 45.5 | 38.5 |
| Revenue growth | 4.3% | -3.4% | 12.8% | 16.6% | 22.1% | -22.4% | -1.7% | 20.4% | 18.0% | — |
| Gross profit | 21.5 | 23.3 | 23.3 | 17.5 | 15.0 | 12.1 | 16.4 | 17.0 | 13.6 | 9.9 |
| Gross margin | 31.8% | 36.0% | 34.7% | 29.5% | 29.4% | 28.9% | 30.5% | 31.1% | 29.8% | 25.7% |
| Operating income | 11.2 | 13.1 | 13.0 | 7.9 | 6.9 | 4.6 | 8.3 | 8.3 | 4.5 | 1.2 |
| Operating margin | 16.5% | 20.2% | 19.3% | 13.3% | 13.5% | 10.9% | 15.4% | 15.2% | 9.8% | 3.0% |
| Net income | 8.9 | 10.8 | 10.3 | 6.7 | 6.5 | 3.0 | 6.1 | 6.1 | 0.8 | -0.1 |
| Net margin | 13.1% | 16.7% | 15.4% | 11.3% | 12.7% | 7.2% | 11.3% | 11.2% | 1.7% | -0.2% |
| Diluted EPS | $18.81 | $22.05 | $20.12 | $12.64 | $11.83 | $5.46 | $10.71 | $10.22 | $1.26 | -$0.13 |
| Free cash flow | 8.2 | 9.5 | 10.6 | 6.0 | 6.0 | 5.0 | 5.4 | 4.6 | 4.5 | 3.6 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open CAT in Markets.
How Caterpillar makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Machinery, Energy & Transportation | $19.6B | 95.3% |
| Financial Products | $962M | 4.7% |
See also: CAT valuation and P/E history · CAT returns
No forecast, no recommendation. This page describes Caterpillar Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.