Caterpillar Inc.

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

                    Revenue
                    FY2025
                
$67.6B
                    3y CAGR +4.4%
                    
                    P40
                    
                    +4.3%
                    
                    Net income
                    FY2025
                
$8.9B
                    Net margin +13.1%
                    
                    P55
                    
                    -17.7%
                    
                    Total assets
                    FY2025
                
$98.6B
                    ROA +9.0%
                    
                    P61
                    
                    +12.3%
                    
                    Operating cash flow
                    FY2025
                
$11.7B
                    FCF margin +13.2%
                    
                    P50
                    
                    -2.5%

19 yrs · FY2007–FY2025 2 quarantined 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

24 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	$10.0B 44.9%	$6.9B -1.3%	$7.0B -0.4%	$7.0B -24.3%	$9.3B
Accounts Receivable	$10.9B 17.6%	$9.3B -0.3%	$9.3B 5.1%	$8.9B 4.5%	$8.5B
Inventory	$18.1B 7.8%	$16.8B 1.6%	$16.6B 1.8%	$16.3B 15.9%	$14.0B
Prepaid Expenses	$2.8B -10.2%	$3.1B -32.0%	$4.6B 73.6%	$2.6B -5.2%	$2.8B
Other Current Assets	$6.1B 15.1%	$5.3B 0.9%	$5.3B 14.5%	$4.6B 11.2%	$4.1B
Total Current Assets	$52.5B 14.9%	$45.7B -2.7%	$46.9B 7.2%	$43.8B 0.8%	$43.5B
Property,Plant and Equipment	$15.1B 13.3%	$13.4B 5.4%	$12.7B 5.4%	$12.0B -0.5%	$12.1B
Goodwill	$5.3B 1.5%	$5.2B -1.3%	$5.3B 0.4%	$5.3B -16.4%	$6.3B
Intangible Assets	$241.0M -39.6%	$399.0M -29.3%	$564.0M -25.6%	$758.0M -27.3%	$1.0B
Other Noncurrent Assets	$6.1B 15.1%	$5.3B 0.9%	$5.3B 14.5%	$4.6B 11.2%	$4.1B
Total Assets	$98.6B 12.3%	$87.8B 0.3%	$87.5B 6.8%	$81.9B -1.0%	$82.8B
Liabilities
Accounts Payable	$9.0B 16.8%	$7.7B -2.9%	$7.9B -9.0%	$8.7B 6.6%	$8.2B
Accrued Liabilities	$5.6B 6.6%	$5.2B 5.7%	$5.0B 21.5%	$4.1B 8.6%	$3.8B
Deferred Revenue	$3.3B 42.7%	$2.3B 20.4%	$1.9B 3.7%	$1.9B 71.1%	$1.1B
Other Current Liabilities	$2.8B -3.8%	$2.9B -6.9%	$3.1B 16.1%	$2.7B 19.2%	$2.3B
Total Current Liabilities	$36.6B 13.3%	$32.3B -7.1%	$34.7B 10.1%	$31.5B 5.6%	$29.8B
Other Noncurrent Liabilities	$6.2B 26.3%	$4.9B 4.6%	$4.7B 1.5%	$4.6B -4.2%	$4.8B
Total Liabilities	$77.3B 13.2%	$68.3B 0.4%	$68.0B 2.9%	$66.1B -0.3%	$66.3B
Equity
Retained Earnings	$65.4B 10.3%	$59.4B 15.8%	$51.2B 17.8%	$43.5B 10.8%	$39.3B
Treasury Stock	$49.5B 11.7%	$44.3B 22.0%	$36.3B 14.5%	$31.7B 14.9%	$27.6B
Accumulated Other Comprehensive Income	$-1.8B 28.3%	$-2.5B -35.8%	$-1.8B 25.9%	$-2.5B -58.2%	$-1.6B
Noncontrolling Interest	$0 -100.0%	$3.0M -66.7%	$9.0M -59.1%	$22.0M -31.3%	$32.0M
Total Stockholders Equity	$21.3B 9.4%	$19.5B 0.0%	$19.5B 22.7%	$15.9B -3.8%	$16.5B
Total Liabilitiesand Equity	$98.6B 12.3%	$87.8B 0.3%	$87.5B 6.8%	$81.9B -1.0%	$82.8B

Income Statement

Revenue, expense, and profitability

19 accounts · 5 years

Revenue $67.6B

Operating income $11.2B

Net income $8.9B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$67.6B 4.3%	$64.8B -3.4%	$67.1B 12.8%	$59.4B 16.6%	$51.0B
Expenses Cost of Revenue	$49.0M 48.5%	$33.0M -79.4%	$160.0M -61.3%	$413.0M -98.8%	$35.5B
Expenses Research and Development	$2.1B 1.9%	$2.1B 0.0%	$2.1B 16.2%	$1.8B 7.6%	$1.7B
Expenses Selling,General and Administrative	$7.0B 4.8%	$6.7B 4.6%	$6.4B 12.7%	$5.7B 5.3%	$5.4B
Expenses Depreciation and Amortization	$2.3B 5.1%	$2.2B 0.4%	$2.1B -3.4%	$2.2B -5.7%	$2.4B
Expenses Share Based Compensation	$242.0M 8.5%	$223.0M 7.2%	$208.0M 7.8%	$193.0M -3.5%	$200.0M
Expenses Restructuring and Asset Impairment	$448.0M 24.8%	$359.0M -54.0%	$780.0M 160.9%	$299.0M 232.2%	$90.0M
Expenses Operating Expenses	$56.4B 9.1%	$51.7B -4.4%	$54.1B 5.0%	$51.5B 16.9%	$44.1B
Other Income Expense Operating Income	$11.2B -14.7%	$13.1B 0.8%	$13.0B 64.0%	$7.9B 14.9%	$6.9B
Other Income Expense Interest Income	$416.0M -13.7%	$482.0M -2.4%	$494.0M 195.8%	$167.0M 108.7%	$80.0M
Other Income Expense Other Income/expense	$892.0M 9.7%	$813.0M 36.6%	$595.0M -53.9%	$1.3B -28.8%	$1.8B
Other Income Expense Income Before Tax	$11.5B -13.7%	$13.4B 2.5%	$13.1B 49.1%	$8.8B 6.7%	$8.2B
Income Tax Income Tax Expense	$2.8B 5.3%	$2.6B -5.5%	$2.8B 34.5%	$2.1B 18.7%	$1.7B
net Income net Income	$8.9B -17.7%	$10.8B 4.4%	$10.3B 54.1%	$6.7B 3.2%	$6.5B
net Income Comprehensive Income	$9.6B -5.5%	$10.1B -7.6%	$11.0B 89.1%	$5.8B -0.4%	$5.8B
Earnings Per Share Basic Eps	$19 -14.7%	$22 9.5%	$20 59.1%	$13 6.6%	$12
Earnings Per Share Diluted Eps	$19 -14.7%	$22 9.6%	$20 59.2%	$13 6.8%	$12
Earnings Per Share Weighted Average Shares Basic	$470.0M -3.4%	$486.7M -4.7%	$510.6M -3.1%	$526.9M -3.1%	$544.0M
Earnings Per Share Weighted Average Shares Diluted	$472.3M -3.5%	$489.4M -4.7%	$513.6M -3.2%	$530.4M -3.3%	$548.5M

Cash Flow Statement

Operating, investing, and financing flows

21 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	$8.9B -17.7%	$10.8B 4.4%	$10.3B 54.1%	$6.7B 3.2%	$6.5B
Operating Activities Depreciation and Amortization	$2.3B 5.1%	$2.2B 0.4%	$2.1B -3.4%	$2.2B -5.7%	$2.4B
Operating Activities Stock Based Compensation	$242.0M 8.5%	$223.0M 7.2%	$208.0M 7.8%	$193.0M -3.5%	$200.0M
Operating Activities Deferred Income Taxes	$465.0M 174.9%	$-621.0M -4.9%	$-592.0M -57.0%	$-377.0M 1.6%	$-383.0M
Operating Activities Changes In Operating Assets and Liabilities	$5.0B 625.4%	$693.0M 42.6%	$486.0M -89.1%	$4.5B -7.9%	$4.9B
Operating Activities Other Non Cash Items	$-294.0M -182.7%	$-104.0M -123.7%	$439.0M 158.2%	$-754.0M -808.4%	$-83.0M
Operating Activities net Cash From Operating Activities	$11.7B -2.5%	$12.0B -6.6%	$12.9B 65.9%	$7.8B 7.9%	$7.2B
Investing Activities Capital Expenditures	$2.8B 41.9%	$2.0B 24.5%	$1.6B 23.2%	$1.3B 18.6%	$1.1B
Investing Activities Business Acquisitions	$47.0M 38.2%	$34.0M -54.7%	$75.0M -14.8%	$88.0M -82.0%	$490.0M
Investing Activities Purchases of Investments	$1.9B 29.1%	$1.5B -66.1%	$4.4B 43.2%	$3.1B 74.2%	$1.8B
Investing Activities Proceeds From Sale of Investments	$2.5B -21.0%	$3.2B 66.8%	$1.9B -20.6%	$2.4B 203.6%	$785.0M
Investing Activities Other Investing Activities	$-75.0M 61.1%	$-193.0M -99.0%	$-97.0M -592.9%	$-14.0M 82.3%	$-79.0M
Investing Activities net Cash From Investing Activities	$-4.7B -91.9%	$-2.5B 58.2%	$-5.9B -131.1%	$-2.5B 17.6%	$-3.1B
Financing Activities Repurchase of Common Stock	$5.2B -32.6%	$7.7B 54.7%	$5.0B 17.6%	$4.2B 58.5%	$2.7B
Financing Activities Dividends Paid	$2.7B 3.9%	$2.6B 3.2%	$2.6B 5.0%	$2.4B 4.6%	$2.3B
Financing Activities Other Financing Activities	$-1.0M 0.0%	$-1.0M	$0 100.0%	$-10.0M -150.0%	$-4.0M
Financing Activities net Cash From Financing Activities	$-3.9B 59.2%	$-9.6B -38.0%	$-6.9B 4.8%	$-7.3B -73.9%	$-4.2B
Cash Reconciliation Effect of Exchange Rate On Cash	$-43.0M 59.4%	$-106.0M 3.6%	$-110.0M 43.3%	$-194.0M -569.0%	$-29.0M
Cash Reconciliation net Change In Cash	$3.1B 3571.9%	$-89.0M -217.9%	$-28.0M 98.8%	$-2.2B -2084.5%	$-103.0M
Cash Reconciliation Cash At Beginning of Period	$10.0B 44.8%	$6.9B -1.3%	$7.0B -0.4%	$7.0B -24.3%	$9.3B
Cash Reconciliation Cash At End of Period	$10.0B 44.8%	$6.9B -1.3%	$7.0B -0.4%	$7.0B -24.3%	$9.3B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+99.9%	+99.9%	+99.8%	+99.3%	+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	+13.2%	+15.5%	+16.8%	+10.9%	+12.0%
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	—	+23.7%	+24.5%	+14.9%	+14.0%
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	+68344d	+101279d	+19804d	+6754d	+121d

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Caterpillar Inc.

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