CATERPILLAR INC
CAT· NYSE· Construction Machinery & Equip
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 13.2%
- ROIC, 5 yr avg
- 19.0%
- Revenue, 5 yr CAGR
- +10.1%
We record prices for the companies we cover; CAT is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 472.3M
- Revenue
- $67.6B
- Free cash flow
- $8.9B
- Owner earnings
- $8.7B
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 16.5%
- Net
- –
- Free cash flow
- 13.2%
- Owner earnings
- 12.8%
- Stock pay
- 0.4%
Returns
- ROIC, FY2025
- 17.8%
- ROIC, 5 yr avg
- 19.0%
- ROE, FY2025
- –
- ROE, 5 yr avg
- –
Growth (CAGR)
- Revenue, 3 yr
- 4.4%
- Revenue, 5 yr
- 10.1%
- Revenue, 9 yr
- 6.4%
- Diluted EPS, 3 yr
- 14.2%
- Diluted EPS, 5 yr
- 28.1%
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- 11.3%
- Free cash flow, 5 yr
- 10.8%
- Free cash flow, 9 yr
- 7.8%
Financial health · FY2025
- Cash and investments
- $10.0B
- Total debt
- $36.2B
- Net debt
- $26.2B
- Debt/Equity
- 1.7x
- Debt/FCF
- 4.1x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -3.0%
Financials: ten years from the 10-Ks
Revenue
$67.6B
+6.4% a year over 9 years
FY2016FY2025
Margins
16.5%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$8.9BOwner earnings$8.7B
Free cash flow +7.8% a year
FY2016FY2025
Diluted shares
472.3M
-19.2% over 9 years, net buybacks
FY2016FY2025
Return on invested capital
17.8%
FY2025
FY2016FY2025
Net debt (below zero)
-$26.2B
$26.2B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $38.5B | $45.5B | $54.7B | $53.8B | $41.7B | $51.0B | $59.4B | $67.1B | $64.8B | $67.6B |
| Revenue growth | -18.0% | 18.0% | 20.4% | -1.7% | -22.4% | 22.1% | 16.6% | 12.8% | -3.4% | 4.3% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 3.0% | 9.8% | 15.2% | 15.4% | 10.9% | 13.5% | 13.3% | 19.3% | 20.2% | 16.5% |
| Net income | – | – | – | – | – | – | – | – | – | – |
| Net margin | – | – | – | – | – | – | – | – | – | – |
| Diluted EPS | $-0.11 | $1.26 | $10.26 | $10.74 | $5.46 | $11.83 | $12.64 | $20.12 | $22.05 | $18.81 |
| Return on invested capital? | – | 2.4% | 17.6% | 17.0% | 10.0% | 14.0% | 14.9% | 24.5% | 23.7% | 17.8% |
| Cash | ||||||||||
| Operating cash flow | $5.6B | $5.7B | $6.6B | $6.9B | $6.3B | $7.2B | $7.8B | $12.9B | $12.0B | $11.7B |
| Capital expenditure | $1.1B | $898.0M | $1.3B | $1.1B | $978.0M | $1.1B | $1.3B | $1.6B | $2.0B | $2.8B |
| Free cash flow | $4.5B | $4.8B | $5.3B | $5.9B | $5.3B | $6.1B | $6.5B | $11.3B | $10.0B | $8.9B |
| Stock-based compensation | $218.0M | $206.0M | $197.0M | $205.0M | $202.0M | $200.0M | $193.0M | $208.0M | $223.0M | $242.0M |
| Owner earnings? | $4.3B | $4.6B | $5.1B | $5.7B | $5.1B | $5.9B | $6.3B | $11.1B | $9.8B | $8.7B |
| Free cash flow per share | $7.75 | $8.02 | $8.81 | $10.32 | $9.75 | $11.13 | $12.20 | $21.98 | $20.53 | $18.88 |
| Capital allocation | ||||||||||
| Dividends paid | $1.8B | $1.8B | $2.0B | $2.1B | $2.2B | $2.3B | $2.4B | $2.6B | $2.6B | $2.7B |
| Share repurchases | $0 | $0 | $3.8B | $4.0B | $1.1B | $2.7B | $4.2B | $5.0B | $7.7B | $5.2B |
| Diluted shares | 584.3M | 599.3M | 599.4M | 567.5M | 548.6M | 548.5M | 530.4M | 513.6M | 489.4M | 472.3M |
| Share count change? | -2.8% | 2.6% | 0.0% | -5.3% | -3.3% | 0.0% | -3.3% | -3.2% | -4.7% | -3.5% |
| Balance sheet | ||||||||||
| Cash and equivalents | $7.2B | $8.3B | $7.9B | $8.3B | $9.4B | $9.3B | $7.0B | $7.0B | $6.9B | $10.0B |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | $30.1B | $28.7B | $30.7B | $31.4B | $28.0B | $31.4B | $31.7B | $29.1B | $31.7B | $36.2B |
| Net debt | $22.9B | $20.4B | $22.8B | $23.2B | $18.7B | $22.2B | $24.7B | $22.1B | $24.9B | $26.2B |
| Shareholders' equity | $13.2B | $13.8B | $14.1B | $14.6B | $15.4B | $16.5B | $15.9B | $19.5B | $19.5B | $21.3B |
Latest filings
| 2026-10-29 | 8-K | Earnings release |
| 2026-08-05 | 10-Q | Quarterly report |
| 2026-08-04 | 8-K | Earnings release |
| 2026-05-06 | 10-Q | Quarterly report |
| 2026-04-30 | 8-K | Earnings release |
| 2026-04-30 | DEF 14A | Proxy statement |
| 2026-02-13 | 10-K | Annual report |
| 2026-01-29 | 8-K | Earnings release |
| 2025-11-03 | 10-Q | Quarterly report |
| 2025-10-29 | 8-K | Earnings release |
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