Caterpillar Inc.

Industrials Construction Machinery & Heavy Transportation Equipment Irving, Texas Last filing Feb 13, 2026 · FY2025

                    Revenue
                    FY2025
                
$67.6B
                    3y CAGR +4.4%
                    
                    P41
                    
                    +4.3%
                    
                    Net income
                    FY2025
                
$8.9B
                    Net margin +13.1%
                    
                    P54
                    
                    -17.7%
                    
                    Total assets
                    FY2025
                
$98.6B
                    ROA +9.0%
                    
                    P58
                    
                    +12.3%
                    
                    Operating cash flow
                    FY2025
                
$11.7B
                    FCF margin +11.0%
                    
                    P46
                    
                    -2.5%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 5 years

Total assets $98.6B

Total liabilities $77.3B

Shareholders equity $21.3B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	10.1%	7.8%	8.0%	8.5%	11.2%
Accounts Receivable	11.1%	10.6%	10.6%	10.8%	10.2%
Inventory	18.4%	19.2%	18.9%	19.9%	17.0%
Prepaid Expenses	2.8%	3.6%	5.2%	3.2%	3.4%
Other Current Assets	10.8%	10.9%	10.9%	11.0%	10.7%
Total Current Assets	53.2%	52.1%	53.7%	53.4%	52.5%
Property,Plant and Equipment	15.4%	15.2%	14.5%	14.7%	14.6%
Goodwill	5.4%	6.0%	6.1%	6.5%	7.6%
Intangible Assets	0.2%	0.5%	0.6%	0.9%	1.3%
Deferred Tax Assets	2.9%	3.8%	3.2%	2.7%	2.2%
Other Noncurrent Assets	22.8%	22.5%	21.9%	21.8%	21.8%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	9.1%	8.7%	9.0%	10.6%	9.8%
Accrued Liabilities	8.3%	8.7%	8.8%	7.8%	7.2%
Deferred Revenue	3.4%	2.6%	2.2%	2.3%	1.3%
Current Portion of Long Term Debt	5.6%	5.0%	5.3%	7.3%	6.5%
Other Current Liabilities	3.6%	4.1%	4.3%	4.0%	3.4%
Total Current Liabilities	37.1%	36.8%	39.7%	38.5%	36.1%
Other Noncurrent Liabilities	10.2%	9.9%	10.0%	10.7%	12.6%
Total Liabilities	78.4%	77.8%	77.7%	80.6%	80.1%
Equity
Common Stock	7.3%	7.9%	7.3%	8.0%	7.7%
Retained Earnings	66.4%	67.6%	58.6%	53.1%	47.4%
Treasury Stock	50.3%	50.5%	41.5%	38.7%	33.4%
Accumulated Other Comprehensive Income	-1.8%	-2.8%	-2.1%	-3.0%	-1.9%
Other Equity	0.0%	0.0%	—	—	—
Total Stockholders Equity	21.6%	22.2%	22.3%	19.4%	19.9%
Noncontrolling Interest	0.0%	0.0%	0.0%	0.0%	0.0%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

15 accounts · 5 years

Revenue $67.6B

Operating income $11.2B

Net income $8.9B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	68.6%	73.8%	76.7%	72.5%	61.6%
Expenses Cost of Revenue	45.4%	45.8%	48.9%	50.5%	42.9%
Expenses Research and Development	2.2%	2.4%	2.4%	2.2%	2.0%
Expenses Selling,General and Administrative	7.1%	7.6%	7.3%	6.9%	6.5%
Expenses Other Operating Expenses	1.2%	1.7%	2.1%	1.5%	1.3%
Other Income Expense Operating Income	11.3%	14.9%	14.8%	9.6%	8.3%
Other Income Expense Other Income/expense	0.9%	0.9%	0.7%	1.6%	2.2%
Other Income Expense Income Before Tax	11.7%	15.2%	14.9%	10.7%	9.9%
Income Tax Income Tax Expense	2.8%	3.0%	3.2%	2.5%	2.1%
net Income Other Items Below Tax	0.1%	0.1%	0.1%	0.0%	0.0%
net Income net Income	9.0%	12.3%	11.8%	8.2%	7.8%
net Income Comprehensive Income	9.7%	11.6%	12.5%	7.1%	7.0%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	0.5%	0.6%	0.6%	0.6%	0.7%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $11.7B

Investing cash flow $-4.7B

Financing cash flow $-3.9B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	9.0%	12.3%	11.8%	8.2%	7.8%
Operating Activities Depreciation and Amortization	2.3%	2.5%	2.5%	2.7%	2.8%
Operating Activities Deferred Income Taxes	0.5%	-0.7%	-0.7%	-0.5%	-0.5%
Operating Activities Changes In Operating Assets and Liabilities	-0.4%	-1.0%	0.2%	-2.2%	-0.8%
Operating Activities Other Non Cash Items	0.5%	0.7%	1.0%	1.2%	-0.7%
Operating Activities net Cash From Operating Activities	11.9%	13.7%	14.7%	9.5%	8.7%
Investing Activities Capital Expenditures	-4.3%	-3.7%	-3.5%	-3.2%	-3.0%
Investing Activities Business Acquisitions	-0.0%	-0.0%	-0.1%	-0.1%	-0.6%
Investing Activities Purchases of Investments	-2.0%	-1.7%	-5.0%	-3.8%	-2.1%
Investing Activities Proceeds From Sale of Investments	2.5%	3.6%	2.2%	2.9%	0.9%
Investing Activities Other Investing Activities	-1.0%	-1.0%	-0.2%	1.0%	1.0%
Investing Activities net Cash From Investing Activities	-4.8%	-2.8%	-6.7%	-3.1%	-3.7%
Financing Activities Repurchase of Common Stock	-5.3%	-8.8%	-5.7%	-5.2%	-3.2%
Financing Activities Dividends Paid	-2.8%	-3.0%	-2.9%	-3.0%	-2.8%
Financing Activities Proceeds From Stock Issuance	-0.0%	0.0%	0.0%	0.1%	0.2%
Financing Activities Other Financing Activities	1.0%	-0.2%	-1.5%	0.5%	4.2%
Financing Activities net Cash From Financing Activities	-4.0%	-10.9%	-7.9%	-8.9%	-5.1%
Cash Reconciliation Effect of Exchange Rate On Cash	-0.0%	-0.1%	-0.1%	-0.2%	-0.0%
Cash Reconciliation net Change In Cash	3.1%	-0.1%	-0.0%	-2.7%	-0.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+33.8%	+38.0%	+36.2%	+30.4%	+30.3%
Operating margin	+16.5%	+20.2%	+19.3%	+13.3%	+13.5%
Net margin	+13.1%	+16.6%	+15.4%	+11.3%	+12.7%
FCF margin	+11.0%	+13.6%	+14.6%	+8.7%	+9.3%
Growth
Revenue CAGR (3y)	+4.4%	+8.3%	+17.1%	+3.4%	-2.3%
Returns
ROE	+41.7%	+55.3%	+53.0%	+42.2%	+39.3%
ROA	+9.0%	+12.3%	+11.8%	+8.2%	+7.8%
ROIC	+50.3%	+61.8%	+59.4%	+40.7%	+42.8%
Liquidity
Current ratio	1.44x	1.42x	1.35x	1.39x	1.46x
Quick ratio	0.57x	0.50x	0.47x	0.50x	0.59x
Leverage
D/E	3.62x	3.50x	3.49x	4.16x	4.01x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.69x	0.74x	0.77x	0.73x	0.62x
Cash conversion cycle	+134d	+135d	+125d	+121d	+121d

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Caterpillar Inc.

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