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 revenue.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 3 years

Total assets $98.6B

Total liabilities $77.3B

Shareholders equity $21.3B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	14.8%	10.6%	10.4%
Accounts Receivable	16.2%	14.3%	13.9%
Inventory	26.8%	26.0%	24.7%
Prepaid Expenses	4.1%	4.8%	6.8%
Other Current Assets	15.8%	14.8%	14.2%
Total Current Assets	77.7%	70.5%	70.0%
Property,Plant and Equipment	22.4%	20.6%	18.9%
Goodwill	7.9%	8.1%	7.9%
Intangible Assets	0.4%	0.6%	0.8%
Deferred Tax Assets	4.3%	5.1%	4.2%
Other Noncurrent Assets	33.3%	30.5%	28.6%
Total Assets	145.9%	135.4%	130.4%
Liabilities
Accounts Payable	13.3%	11.8%	11.8%
Accrued Liabilities	12.0%	11.8%	11.5%
Deferred Revenue	4.9%	3.6%	2.9%
Current Portion of Long Term Debt	8.2%	6.8%	6.9%
Other Current Liabilities	5.2%	5.5%	5.6%
Total Current Liabilities	54.1%	49.8%	51.8%
Other Noncurrent Liabilities	14.8%	13.3%	13.1%
Total Liabilities	114.3%	105.3%	101.4%
Equity
Common Stock	10.6%	10.7%	9.5%
Retained Earnings	96.8%	91.6%	76.4%
Treasury Stock	73.3%	68.4%	54.2%
Accumulated Other Comprehensive Income	-2.6%	-3.8%	-2.7%
Other Equity	0.0%	0.0%	—
Total Stockholders Equity	31.5%	30.1%	29.1%
Noncontrolling Interest	0.0%	0.0%	0.0%
Total Liabilitiesand Equity	145.9%	135.4%	130.4%

Income Statement

Revenue, expense, and profitability

15 accounts · 3 years

Revenue $67.6B

Operating income $11.2B

Net income $8.9B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	66.2%	62.0%	63.8%
Expenses Research and Development	3.2%	3.3%	3.1%
Expenses Selling,General and Administrative	10.3%	10.3%	9.5%
Expenses Other Operating Expenses	1.8%	2.3%	2.7%
Other Income Expense Operating Income	16.5%	20.2%	19.3%
Other Income Expense Other Income/expense	1.3%	1.3%	0.9%
Other Income Expense Income Before Tax	17.1%	20.6%	19.5%
Income Tax Income Tax Expense	4.1%	4.1%	4.1%
net Income Other Items Below Tax	0.2%	0.1%	0.1%
net Income net Income	13.1%	16.6%	15.4%
net Income Comprehensive Income	14.2%	15.6%	16.4%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	0.7%	0.8%	0.8%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $11.7B

Investing cash flow $-4.7B

Financing cash flow $-3.9B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	13.1%	16.6%	15.4%
Operating Activities Depreciation and Amortization	3.3%	3.3%	3.2%
Operating Activities Deferred Income Taxes	0.7%	-1.0%	-0.9%
Operating Activities Changes In Operating Assets and Liabilities	-0.5%	-1.3%	0.2%
Operating Activities Other Non Cash Items	0.7%	0.9%	1.3%
Operating Activities net Cash From Operating Activities	17.4%	18.6%	19.2%
Investing Activities Capital Expenditures	-6.3%	-5.0%	-4.6%
Investing Activities Business Acquisitions	-0.1%	-0.1%	-0.1%
Investing Activities Purchases of Investments	-2.9%	-2.3%	-6.6%
Investing Activities Proceeds From Sale of Investments	3.7%	4.9%	2.8%
Investing Activities Other Investing Activities	-1.4%	-1.3%	-0.3%
Investing Activities net Cash From Investing Activities	-7.0%	-3.8%	-8.8%
Financing Activities Repurchase of Common Stock	-7.7%	-11.9%	-7.4%
Financing Activities Dividends Paid	-4.1%	-4.1%	-3.8%
Financing Activities Proceeds From Stock Issuance	-0.0%	0.0%	0.0%
Financing Activities Other Financing Activities	1.5%	-0.3%	-2.0%
Financing Activities net Cash From Financing Activities	-5.8%	-14.8%	-10.3%
Cash Reconciliation Effect of Exchange Rate On Cash	-0.1%	-0.2%	-0.2%
Cash Reconciliation net Change In Cash	4.6%	-0.1%	-0.0%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+33.8%	+38.0%	+36.2%
Operating margin	+16.5%	+20.2%	+19.3%
Net margin	+13.1%	+16.6%	+15.4%
FCF margin	+11.0%	+13.6%	+14.6%
Growth
Revenue CAGR (3y)	+4.4%	+8.3%	+17.1%
Returns
ROE	+41.7%	+55.3%	+53.0%
ROA	+9.0%	+12.3%	+11.8%
ROIC	+50.3%	+61.8%	+59.4%
Liquidity
Current ratio	1.44x	1.42x	1.35x
Quick ratio	0.57x	0.50x	0.47x
Leverage
D/E	3.62x	3.50x	3.49x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.69x	0.74x	0.77x
Cash conversion cycle	+134d	+135d	+125d

Valuation

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FY2025 fundamentals · no price

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Caterpillar Inc.

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