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Saturday 17 October 2026 Export CAT’s income statement to Excel — free account

Caterpillar Inc.

CAT Industrials Farm & Heavy Construction Machinery

Caterpillar Inc.’s revenue for fiscal 2025 (year ended December 2025) was $67.6 billion, up 4.29% from fiscal 2024. In the quarter to June 2026, revenue grew 24.0%, EPS grew 68.1%, free cash flow grew 47.1% and total debt rose 10.8%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for twenty-five consecutive years; insiders bought in the last twelve months.

729.49 9.60 −1.30%
Market cap
$338.2B
P/E
31.2×
Fwd P/E
37.6×
Dividend yield
0.84%
F-score
5/9
Altman Z
4.32
Beneish M
−2.43
Dividend safety
86/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Caterpillar Inc. (CAT) Operating margin

Alert me on Operating margin

Caterpillar Inc.'s operating margin over the twelve months to 30 June 2026 was 19.4%, up 0.9 percentage points from fiscal 2025 (18.5%). Over the past ten years it has ranged from 4.56% (fiscal 2016) to 22.2% (fiscal 2024); the current reading is higher than 82% of that period. That is above the Farm & Heavy Construction Machinery industry median of 4.47% and above the Industrials sector median of 5.13%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 18.5% (3.64)
FY2024 22.2% 1.28
FY2023 20.9% 6.62
FY2022 14.3% (0.14)
FY2021 14.4% 2.07
FY2020 12.3% (4.49)
FY2019 16.8% 0.34
FY2018 16.5% 5.24
FY2017 11.2% 6.67
FY2016 4.56% (4.74)

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 22.7% 2.97
Mar 2026 19.7% 3.96
Dec 2025 15.7% (3.53)
Sep 2025 19.3% (0.02)
42 more quarters

Against its own ten years

Low 4.56% High 22.2%
Ten-year median 14.4%
Current reading's percentile 81

Operating margin against peers

Company Operating margin
DE Deere & Company compare 19.5%
CAT Caterpillar Inc. 19.4%
FSS Federal Signal Corporation compare 16.2%
CNH CNH Industrial N.V. compare 13.5%
PCAR PACCAR Inc. compare 13.3%
ALG Alamo Group, Inc. compare 8.91%
OSK Oshkosh Corporation compare 7.52%
AGCO AGCO Corporation compare 5.83%
TEX Terex Corporation compare 5.72%
Farm & Heavy Construction Machinery industry median 4.47%
Industrials sector median 5.13%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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