CAT
$845.42+2.31%
as of close, Oct 2, 2026
☾ AH $845.42 +2.31%
Caterpillar Inc.Stock · IndustrialsDow Jones 9.2%S&P 500 0.8%Russell 1000 0.7%US Stock Market 0.7%Russell 3000 0.7%MSCI World 0.4%MSCI ACWI 0.4%S&P 500 Equal Weight 0.2%
CAT financial statements
The full income statement, balance sheet, and cash-flow statement for Caterpillar Inc. (CAT), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 484.9M2024-09 482.8M2024-12 477.9M2025-03 471.0M2025-06 468.5M2025-09 468.0M2025-12 465.3M2026-03 460.6M2026-06 459.7M-5.2% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 67.6B+4.3% | 64.8B-3.4% | 67.1B+12.8% | 59.4B+16.6% | 51.0B+22.1% | ||
| Lease income | 1.22B+0.3% | 1.21B+3.9% | 1.17B+7.5% | 1.08B-3.8% | 1.13B+0.4% | |
| Cost of revenue | 44.8B+11.3% | 40.2B-6.0% | 42.8B+3.4% | 41.4B+16.4% | 35.5B+22.1% | |
| Research & development | 2.15B+1.9% | 2.11B-0.0% | 2.11B+16.2% | 1.81B+7.6% | 1.69B+19.2% | |
| Selling, general & administrative | 6.99B+4.8% | 6.67B+4.6% | 6.37B+12.7% | 5.65B+5.3% | 5.37B+15.6% | |
| Restructuring | 448M+24.8% | 359M-54.0% | 780M+160.9% | 299M+232.2% | 90.0M-74.6% | |
| Amortization of intangibles | 169M-4.0% | 176M-19.3% | 218M-23.2% | 284M-6.0% | 302M-2.9% | |
| Operating income | 11.2B-14.7% | 13.1B+0.8% | 13.0B+64.0% | 7.90B+14.9% | 6.88B+51.1% | |
| Other non-operating income | 892M+9.7% | 813M+36.6% | 595M-53.9% | 1.29B-28.8% | 1.81B+4222.7% | |
| Equity-method income | 109M+147.7% | 44.0M-30.2% | 63.0M+231.6% | 19.0M-38.7% | 31.0M+121.4% | |
| Gain (loss) on equity securities | 20.0M-20.0% | 25.0M+308.3% | -12.0M+75.5% | -49.0M-146.7% | 105M+123.4% | |
| Pre-tax income | 11.5B-13.7% | 13.4B+2.5% | 13.1B+49.1% | 8.75B+6.7% | 8.20B+105.4% | |
| Income tax | 2.77B+5.3% | 2.63B-5.5% | 2.78B+34.5% | 2.07B+18.7% | 1.74B+73.2% | |
| 8.88B-17.7% | 10.8B+4.4% | 10.3B+54.1% | 6.70B+3.2% | 6.49B+116.2% | ||
| Net income to non-controlling interest | -2.00M+50.0% | -4.00M-33.3% | -3.00M-200.0% | -1.00M-125.0% | 4.00M-20.0% | |
| Net income to common | 8.88B-17.7% | 10.8B+4.4% | 10.3B+54.1% | 6.71B+3.3% | 6.49B+116.4% | |
| $18.81-14.7% | $22.05+9.6% | $20.12+59.2% | $12.64+6.8% | $11.83+116.7% | ||
| EPS (basic) | $18.90-14.7% | $22.17+9.5% | $20.24+59.1% | $12.72+6.6% | $11.93+116.5% | |
| Weighted-avg shares (basic) | 470M-3.4% | 487M-4.7% | 511M-3.1% | 527M-3.1% | 544M-0.0% | |
| Weighted-avg shares (diluted) | 472M-3.5% | 489M-4.7% | 514M-3.2% | 530M-3.3% | 549M-0.0% | |
| Dividends per share | $5.94+7.4% | $5.53+8.4% | $5.10+8.3% | $4.71+8.0% | $4.36+5.8% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 52.5B+14.9% | 45.7B-2.7% | 46.9B+7.2% | 43.8B+0.8% | 43.5B+10.1% | ||
| Cash & equivalents | 9.98B+44.9% | 6.89B-1.3% | 6.98B-0.4% | 7.00B-24.3% | 9.25B-1.0% | |
| Accounts receivable | 10.9B+17.6% | 9.28B-0.3% | 9.31B+5.1% | 8.86B+4.5% | 8.48B+15.9% | |
| Inventory | 18.1B+7.8% | 16.8B+1.6% | 16.6B+1.8% | 16.3B+15.9% | 14.0B+23.1% | |
| Prepaid expenses | 2.80B-10.2% | 3.12B-32.0% | 4.59B+73.6% | 2.64B-5.2% | 2.79B+44.5% | |
| 98.6B+12.3% | 87.8B+0.3% | 87.5B+6.8% | 81.9B-1.0% | 82.8B+5.7% | ||
| Property, plant & equipment | 15.1B+13.3% | 13.4B+5.4% | 12.7B+5.4% | 12.0B-0.5% | 12.1B-2.5% | |
| Operating lease right-of-use | 708M+19.6% | 592M+6.5% | 556M-1.4% | 564M-9.8% | 625M+3.6% | |
| Goodwill | 5.32B+1.5% | 5.24B-1.3% | 5.31B+0.4% | 5.29B-16.4% | 6.32B-1.1% | |
| Intangible assets | 241M-39.6% | 399M-29.3% | 564M-25.6% | 758M-27.3% | 1.04B-20.3% | |
| Other non-current assets | 6.10B+15.1% | 5.30B+0.9% | 5.26B+14.5% | 4.59B+11.2% | 4.13B+7.9% | |
| 36.6B+13.3% | 32.3B-7.1% | 34.7B+10.1% | 31.5B+5.6% | 29.8B+16.1% | ||
| Accounts payable | 8.97B+16.8% | 7.67B-2.9% | 7.91B-9.0% | 8.69B+6.6% | 8.15B+33.1% | |
| Accrued liabilities | 5.59B+6.6% | 5.24B+5.7% | 4.96B+21.5% | 4.08B+8.6% | 3.76B+3.2% | |
| Deferred revenue | 3.31B+42.7% | 2.32B+20.4% | 1.93B+3.7% | 1.86B+71.1% | 1.09B-1.9% | |
| Short-term & current debt | 5.51B+25.5% | 4.39B-5.4% | 4.64B-22.1% | 5.96B+10.2% | 5.40B+168.2% | |
| Current lease liability | 158M+10.5% | 143M-2.7% | 147M-2.6% | 151M-4.4% | 158M-3.1% | |
| Other current liabilities | 2.80B-3.8% | 2.91B-6.9% | 3.12B+16.1% | 2.69B+19.2% | 2.26B+11.8% | |
| 77.3B+13.2% | 68.3B+0.4% | 68.0B+2.9% | 66.1B-0.3% | 66.3B+5.3% | ||
| Long-term debt | 30.7B+12.2% | 27.4B+11.8% | 24.5B-4.8% | 25.7B-1.2% | 26.0B+0.1% | |
| Non-current lease liability | 570M+24.2% | 459M+7.5% | 427M-0.2% | 428M-11.6% | 484M+5.9% | |
| Operating lease liability (total) | 728M+20.9% | 602M+4.9% | 574M-0.9% | 579M | — | |
| Deferred tax liabilities | 494M+14.4% | 432M-4.8% | 454M-3.6% | 471M+14.3% | 412M-1.4% | |
| Other non-current liabilities | 6.17B+26.3% | 4.89B+4.6% | 4.67B+1.5% | 4.60B-4.2% | 4.80B+10.3% | |
| 21.3B+9.4% | 19.5B-0.0% | 19.5B+22.7% | 15.9B-3.8% | 16.5B+7.4% | ||
| Retained earnings | 65.4B+10.3% | 59.4B+15.8% | 51.3B+17.8% | 43.5B+10.8% | 39.3B+11.7% | |
| Treasury stock | 49.5B+11.7% | 44.3B+22.0% | 36.3B+14.5% | 31.7B+14.9% | 27.6B+9.8% | |
| Accumulated other comprehensive income | -1.77B+28.3% | -2.47B-35.8% | -1.82B+25.9% | -2.46B-58.2% | -1.55B-74.9% | |
| Non-controlling interest | 0.00-100.0% | 3.00M-66.7% | 9.00M-59.1% | 22.0M-31.3% | 32.0M-31.9% | |
| Total equity incl. non-controlling | 21.3B+9.4% | 19.5B-0.0% | 19.5B+22.7% | 15.9B-3.8% | 16.5B+7.4% | |
| Total liabilities & equity | 98.6B+12.3% | 87.8B+0.3% | 87.5B+6.8% | 81.9B-1.0% | 82.8B+5.7% | |
| Common shares issued | 815M+0.0% | 815M+0.0% | 815M+0.0% | 815M+0.0% | 815M+0.0% | |
| Common shares outstanding | 465M-2.6% | 478M-4.3% | 499M-3.3% | 516M-3.7% | 536M-1.7% | |
| Shares outstanding (cover) | 465M-2.6% | 478M-4.3% | 499M-3.3% | 516M-3.6% | 536M-1.7% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 11.7B-2.5% | 12.0B-6.6% | 12.9B+65.9% | 7.77B+7.9% | 7.20B+13.8% | ||
| Depreciation & amortization | 2.26B+5.1% | 2.15B+0.4% | 2.14B-3.4% | 2.22B-5.7% | 2.35B-3.3% | |
| Intangible amortization | 169M-4.0% | 176M-19.3% | 218M-23.2% | 284M-6.0% | 302M-2.9% | |
| Deferred income taxes | 465M+174.9% | -621M-4.9% | -592M-57.0% | -377M+1.6% | -383M-417.6% | |
| Change in inventory | 1.48B+256.8% | 414M+13.7% | 364M-85.9% | 2.59B+0.1% | 2.59B+7505.9% | |
| Change in payables | 1.18B+518.1% | -282M+62.6% | -754M-194.5% | 798M-60.9% | 2.04B+1982.7% | |
| -4.71B-91.9% | -2.45B+58.2% | -5.87B-131.1% | -2.54B+17.6% | -3.08B-107.7% | ||
| Capital expenditure | 2.82B+41.9% | 1.99B+24.5% | 1.60B+23.2% | 1.30B+18.6% | 1.09B+11.8% | |
| Free cash flow | 8.92B-11.2% | 10.0B-11.0% | 11.3B+74.5% | 6.47B+6.0% | 6.11B+14.1% | |
| Acquisitions | 47.0M+38.2% | 34.0M-54.7% | 75.0M-14.8% | 88.0M-82.0% | 490M+341.4% | |
| Proceeds from sale of PP&E | 708M-1.9% | 722M-7.6% | 781M-5.9% | 830M-34.4% | 1.26B+63.9% | |
| Other investing activities | -75.0M+61.1% | -193M-99.0% | -97.0M-592.9% | -14.0M+82.3% | -79.0M-219.7% | |
| -3.90B+59.2% | -9.56B-38.0% | -6.93B+4.8% | -7.28B-73.9% | -4.19B-11.5% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 5.19B-32.6% | 7.70B+54.7% | 4.97B+17.6% | 4.23B+58.5% | 2.67B+136.1% | |
| Dividends paid | 2.75B+3.9% | 2.65B+3.2% | 2.56B+5.0% | 2.44B+4.6% | 2.33B+4.0% | |
| Other financing activities | -1.00M+0.0% | -1.00M | 0.00+100.0% | -10.0M-150.0% | -4.00M-300.0% | |
| FX effect on cash | -43.0M+59.4% | -106M+3.6% | -110M+43.3% | -194M-569.0% | -29.0M-123.1% | |
| Net change in cash | 3.09B+3571.9% | -89.0M-217.9% | -28.0M+98.8% | -2.25B-2084.5% | -103M-109.6% | |
| Interest paid | 1.84B+6.0% | 1.74B+21.1% | 1.44B+49.6% | 959M+4.2% | 920M-15.5% | |
| Income taxes paid | 2.21B-29.4% | 3.13B+6.0% | 2.95B-4.1% | 3.08B+74.9% | 1.76B+34.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 267B+53.7% | 173B+15.2% | 151B+20.7% | 125B+12.5% | 111B+11.6% | |
| P/E | 30.0×+86.7% | 16.1×-2.7% | 16.5×-2.4% | 16.9×-0.9% | 17.1×-48.4% | |
| P/S | 3.9×+47.4% | 2.7×+18.3% | 2.3×+2.7% | 2.2×+1.3% | 2.2×-8.6% | |
| P/B | 12.5×+40.6% | 8.9×+21.2% | 7.3×-8.0% | 8.0×+19.0% | 6.7×+3.9% | |
| P/FCF | 29.9×+73.2% | 17.3×+16.2% | 14.9×-38.6% | 24.2×+33.4% | 18.1×-2.2% | |
| Earnings yield | 3.3%-46.4% | 6.2%+2.8% | 6.1%+2.4% | 5.9%+0.9% | 5.9%+93.7% | |
| FCF yield | 3.3%-42.3% | 5.8%-13.9% | 6.7%+62.9% | 4.1%-25.0% | 5.5%+2.3% | |
| Dividend yield | 1.0%-32.0% | 1.5%-11.6% | 1.7%-12.3% | 2.0%-6.8% | 2.1%-6.8% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: CAT’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all CAT filings on SEC EDGAR → Not investment advice.