COVERAGE / CAT / Industrials

CATERPILLAR INC

Construction Machinery & Equip

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS2

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

$67.59bn

Prior / $64.81bn

Change / +4.29%

SOURCE / 2026-02-13

Operating income

$11.15bn

Prior / $13.07bn

Change / -14.70%

SOURCE / 2026-02-13

Net income

$8.88bn

Prior / $10.79bn

Change / -17.67%

SOURCE / 2026-02-13

Diluted EPS

$18.81

Prior / $22.05

Change / -14.69%

SOURCE / 2026-02-13

Free cash flow

$8.92bn

Prior / $10.05bn

Change / -11.24%

SOURCE / 2026-02-13

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

16.50%

Prior / 20.17%

Change / -3.67 pp

SOURCE / 2026-02-13

Return on avg. equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / 2026-02-13

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 67589000000,
    "accn": "0000018230-26-000008",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-13",
    "tag": "us-gaap:Revenues",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 8882000000,
    "accn": "0000018230-26-000008",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-13",
    "frame": "CY2025",
    "tag": "us-gaap:ProfitLoss",
    "unit": "USD"
  },
  "operatingIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 11151000000,
    "accn": "0000018230-26-000008",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-13",
    "frame": "CY2025",
    "tag": "us-gaap:OperatingIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 18.81,
    "accn": "0000018230-26-000008",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-13",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 11739000000,
    "accn": "0000018230-26-000008",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-13",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "capex": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 2821000000,
    "accn": "0000018230-26-000008",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-13",
    "frame": "CY2025",
    "tag": "us-gaap:PaymentsToAcquirePropertyPlantAndEquipment",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 98585000000,
    "accn": "0000018230-26-000008",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-13",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-12-31",
    "val": 77267000000,
    "accn": "0000018230-26-000008",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-13",
    "tag": "us-gaap:Liabilities",
    "unit": "USD"
  },
  "currentAssets": {
    "end": "2025-12-31",
    "val": 52485000000,
    "accn": "0000018230-26-000008",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-13",
    "tag": "us-gaap:AssetsCurrent",
    "unit": "USD"
  },
  "currentLiabilities": {
    "end": "2025-12-31",
    "val": 36558000000,
    "accn": "0000018230-26-000008",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-13",
    "tag": "us-gaap:LiabilitiesCurrent",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	$67.59bn	$8.88bn	$8.92bn	$18.81
2024-12-31	$64.81bn	$10.79bn	$10.05bn	$22.05
2023-12-31	$67.06bn	$10.33bn	$11.29bn	$20.12
2022-12-31	$59.43bn	$6.7bn	$6.47bn	$12.64

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	42.45x	Unavailable	37.06x	11
P/S	5.43x	Unavailable	4.74x	8
P/B	Unavailable	Unavailable	7.57x	7
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	2.43%	Unavailable	3.29%	6

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-06-30 DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 798.57,
  "tradingDate": "2026-09-17",
  "marketCap": 367082576108.73,
  "source": "Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-06-30"
}

Company & operating context

CATERPILLAR INC is an SEC-reporting issuer listed on NYSE under CAT. Its SEC industry description is Construction Machinery & Equip. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Equipment manufacturers, transport operators and industrial service providers face differing order and asset cycles.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2026-02-13PERIOD / 2025-12-31

CAT filed this 10-K on 2026-02-13 for the reported period 2025-12-31. Reading focus: Backlog conversion, utilization, deliveries, working capital and service revenue. This is a metadata-based reading guide; it does not assert that a particular event or risk change occurred in the document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0032CATEarnings Review

CAT: the annual earnings and cash-flow comparison ↗

CATERPILLAR INC

Research abstract

A two-period review of CAT revenue, profitability and cash conversion; reported revenue growth was 4.29%.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

HR-0033CATCompany Research

CAT: reading the FY2025 financial structure ↗

CATERPILLAR INC

Research abstract

Annual revenue of USD 67.589 billion and net income of USD 8.882 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Order cancellations, supply constraints, execution risk, labor costs and capital-cycle sensitivity.

Backlog conversion, utilization, deliveries, working capital and service revenue.

INDUSTRIALS SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-02-13
SEC annual filing · 2024-12-31 ↗Source date 2026-02-13
SEC annual filing · 2023-12-31 ↗Source date 2026-02-13
SEC annual filing · 2022-12-31 ↗Source date 2025-02-14
SEC issuer record ↗Source date 2026-09-18