CAT Caterpillar Inc.

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Industrials

· How we analyze

About the company

Caterpillar is a US maker of construction and mining equipment such as excavators, wheel loaders and haul trucks. It also makes diesel and gas engines, turbines and generator sets, for example for data centers, and provides parts, financing and service through a global dealer network. As of Oct 13, 2026

Fact sheet (from the annual report) Construction machinery · Irving, USA

Caterpillar makes construction and mining machinery, diesel and gas engines, industrial turbines and diesel-electric locomotives. The Construction Industries segment serves construction and infrastructure; most machines go to construction, rental, quarries and mining. The Resource Industries segment supplies surface and underground mining equipment, plus software for fleets and autonomous machines. The Power & Energy segment supplies engines, generators, turbines and locomotives for oil and gas, power generation, marine and rail. Cat Financial finances machines for customers and dealers, for example through loans, leases and inventory financing. Caterpillar sells machines mainly through a global network of mostly independent dealers, and turbines and locomotives partly directly.

Automatically summarized from SEC annual report (10-K, filed Feb 13, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026

Price performance at a glance

Last 30 trading days
  • Today +0.8%
  • 7 days −4.6%
  • 30 days −15.8%
  • 1 year +32.4%
Day range (last trading day)
−1.8%Price at 76% of the range+0.6%
52-week range
−24.7%Price at 31% of the range+55.1%
Distance from the all-time high
−35.5%

Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.

Pullback in trend · Analysis method

This method currently detects no pattern for CAT. The check runs daily after the close.

You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing

What does the pattern show?

What is this? In an intact uptrend (price above the 200-day line, 50-day line rising), the price pulls back to the 50-day line after a rise and closes back above it.

This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice

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Symbol on TradingView: NYSE:CAT

Fundamental analysis

Caterpillar Inc. · Sector Industrials · amounts in USD

Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 13, 2026.

Quality checks

Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.

Fiscal year to Dec 31, 2025

Quality Profitability, consistency, balance sheet 6 of 8 criteria met Growth Revenue and earnings per share 5 of 7 criteria met Dividend Level, consistency, coverage 7 of 7 criteria met Financial strength Piotroski, debt, liquidity 5 of 6 criteria met

Quality 6 of 8 met

  • not met: Gross margin above 40% 33.8%
  • met: Operating margin above 15% 16.5%
  • met: Net margin above 10% 13.1%
  • met: Return on equity above 15% 41.7%
  • met: Free cash flow margin above 10% 13.2%
  • met: Profit in each of the last 5 fiscal years 5 of 5
  • met: Free cash flow positive in each of the last 3 fiscal years 3 of 3
  • not met: Equity ratio above 30% 21.6%
Gross margin

33.8% Fiscal year 2025

Rank 23 of 100: higher than 23% of 153 peers (All). weak.

Rank 39 of 100: higher than 39% of 22 peers (Sector). medium.

Median Industrials: 35.4%

Share of revenue left after the direct cost of the products sold.

Operating margin

16.5% Fiscal year 2025

Rank 50 of 100: higher than 50% of 192 peers (All). medium.

Rank 63 of 100: higher than 63% of 28 peers (Sector). medium.

Median Industrials: 10.4%

Operating income divided by revenue: what the core business earns before interest and taxes.

Net margin

13.1% Fiscal year 2025

Rank 50 of 100: higher than 50% of 237 peers (All). medium.

Rank 57 of 100: higher than 57% of 34 peers (Sector). medium.

Median Industrials: 12.9%

Profit after all costs, interest and taxes divided by revenue.

Return on equity

41.7% Fiscal year 2025

Rank 85 of 100: higher than 85% of 218 peers (All). strong.

Rank 77 of 100: higher than 77% of 32 peers (Sector). strong.

Median Industrials: 26.3%

Net income divided by equity at fiscal year end.

Return on assets

9.0% Fiscal year 2025 (total assets at year end)

Rank 67 of 100: higher than 67% of 238 peers (All). strong.

Rank 69 of 100: higher than 69% of 34 peers (Sector). strong.

Median Industrials: 7.5%

Net income divided by total assets at fiscal year end.

Equity ratio

21.6% Fiscal year 2025

Rank 28 of 100: higher than 28% of 239 peers (All). weak.

Rank 31 of 100: higher than 31% of 34 peers (Sector). weak.

Median Industrials: 33.2%

Equity as a share of total assets. Usually low for banks.

Free cash flow margin

13.2% Fiscal year 2025

Rank 48 of 100: higher than 48% of 213 peers (All). medium.

Rank 64 of 100: higher than 64% of 32 peers (Sector). medium.

Median Industrials: 10.5%

Free cash flow divided by revenue.

Free cash flow

8.9B USD Fiscal year 2025

Operating cash flow minus capital expenditure on property and equipment.

Growth 5 of 7 met

  • not met: Over 3 years, revenue grew by more than 5% per year +4.4%
  • met: Over 5 years, revenue grew by more than 5% per year +10.1%
  • not met: Over 10 years, revenue grew by more than 5% per year +3.7%
  • met: Over 3 years, EPS grew by more than 5% per year +14.2%
  • met: Over 5 years, EPS grew by more than 5% per year +28.1%
  • met: Revenue rose in at least 4 of the last 5 fiscal years 4 of 5
  • met: Revenue rose in the last fiscal year +4.3%
Revenue growth 3 years

+4.4% per year

Rank 33 of 100: higher than 33% of 230 peers (All). medium.

Rank 33 of 100: higher than 33% of 32 peers (Sector). medium.

Median Industrials: +8.5%

Average growth per year over 3 fiscal years.

Revenue growth 5 years

+10.1% per year

Rank 47 of 100: higher than 47% of 217 peers (All). medium.

Rank 62 of 100: higher than 62% of 30 peers (Sector). medium.

Median Industrials: +9.2%

Average growth per year over 5 fiscal years.

Revenue growth 10 years

+3.7% per year

Rank 29 of 100: higher than 29% of 157 peers (All). weak.

Rank 40 of 100: higher than 40% of 21 peers (Sector). medium.

Median Industrials: +4.5%

Average growth per year over 10 fiscal years.

EPS growth 3 years

+14.2% per year

Rank 56 of 100: higher than 56% of 157 peers (All). medium.

Rank 59 of 100: higher than 59% of 23 peers (Sector). medium.

Median Industrials: +10.7%

Growth of earnings per share per year, adjusted for stock splits.

EPS growth 5 years

+28.1% per year

Rank 82 of 100: higher than 82% of 146 peers (All). strong.

Rank 79 of 100: higher than 79% of 21 peers (Sector). strong.

Median Industrials: +13.7%

Growth of earnings per share per year, adjusted for stock splits.

EPS growth 10 years

+18.3% per year

Rank 82 of 100: higher than 82% of 140 peers (All). strong.

Rank 98 of 100: higher than 98% of 21 peers (Sector). strong.

Median Industrials: +8.1%

Growth of earnings per share per year, adjusted for stock splits.

Dividend 7 of 7 met

  • met: Pays a dividend 5.94 USD
  • met: Payout ratio at most 60% of earnings 32%
  • met: Dividend paid in each of the last 5 fiscal years 5 of 5
  • met: Dividend per share never lowered in the last 5 fiscal years Dividend per share as filed with the SEC, including special dividends; a one-off higher prior year does not count as a cut. never
  • met: Dividend per share higher than 5 years ago +7.6%
  • met: Free cash flow per share covers the dividend 3.2x
  • met: Dividends paid over the last 5 years covered by free cash flow 30% of free cash flow
Payout ratio

32% Fiscal year 2025

Dividend per share divided by earnings per share.

Dividend growth 5 years

+7.6% per year

Rank 42 of 100: higher than 42% of 118 peers (All). medium.

Rank 43 of 100: higher than 43% of 20 peers (Sector). medium.

Median Industrials: +7.7%

Growth of the dividend per share per year.

Free cash flow coverage

3.2x Fiscal year 2025

Free cash flow per share divided by dividend per share. From 1x the dividend is covered.

Financial strength 5 of 6 met

  • met: Piotroski F-Score at least 7 of 9 7 of 9
  • not met: Long-term debt no higher than equity 1.44
  • met: Current assets cover current liabilities 1.44
  • met: Positive equity 21.3B USD
  • met: In 5 years, share count up by at most 5% −13.9%
  • met: Free cash flow positive in the last fiscal year 8.9B USD
Piotroski F-Score

7 of 9 Fiscal year 2025

Rank 72 of 100: higher than 72% of 134 peers (All). strong.

Rank 75 of 100: higher than 75% of 20 peers (Sector). strong.

Median Industrials: 6.0 of 9

Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.

Debt / equity

1.44 at fiscal year end

Rank 22 of 100: lower than 22% of 199 peers (All). weak.

Rank 27 of 100: lower than 27% of 32 peers (Sector). weak.

Median Industrials: 0.62

Long-term financial debt divided by equity.

Liquidity (current ratio)

1.44 at fiscal year end

Rank 52 of 100: higher than 52% of 215 peers (All). medium.

Rank 65 of 100: higher than 65% of 33 peers (Sector). medium.

Median Industrials: 1.22

Current assets divided by current liabilities.

Change in share count

−13.9% in 5 years

Rank 90 of 100: lower than 90% of 199 peers (All). strong.

Rank 88 of 100: lower than 88% of 29 peers (Sector). strong.

Median Industrials: −5.4%

Change in diluted share count. Negative = share buybacks, positive = new shares.

The 9 criteria of the Piotroski F-Score
  • met: Profit in the last fiscal year (positive return on assets)
  • met: Positive operating cash flow
  • not met: Return on assets higher than the prior year
  • met: Operating cash flow higher than net income
  • met: Long-term debt relative to total assets fell
  • met: Liquidity (current assets / current liabilities) rose
  • met: No additional shares (diluted share count did not rise)
  • not met: Gross margin higher than the prior year
  • met: Revenue relative to total assets higher than the prior year

Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.

Price-based criteria (P/E, dividend yield) are shown to signed-in users.

Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.

In short

  • Light green: Revenue grew over 5 years (+10.1% per year), at least as fast as the sector median.
  • Light green: Net income (total) grew over 5 years (+24.2% per year), at least as fast as the sector median; per share +28.1% per year.
  • Light green: Net margin 13.1%, above the sector median (11.1%).
  • Light red: Debt much higher than usual in the sector.
  • Light yellow: Profit in 9 of 10 fiscal years.

Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.

RevenueNet income Net margin (below) in USD
  1. Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 38.5B USD · Net income −59.0M USD · Net margin −0.2%
  2. Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 45.5B USD · Net income 759.0M USD · Net margin 1.7%
  3. Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 54.7B USD · Net income 6.1B USD · Net margin 11.2%
  4. Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 53.8B USD · Net income 6.1B USD · Net margin 11.3%
  5. Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 41.7B USD · Net income 3.0B USD · Net margin 7.2%
  6. Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 51.0B USD · Net income 6.5B USD · Net margin 12.7%
  7. Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 59.4B USD · Net income 6.7B USD · Net margin 11.3%
  8. Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 67.1B USD · Net income 10.3B USD · Net margin 15.4%
  9. Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 64.8B USD · Net income 10.8B USD · Net margin 16.6%
  10. Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 67.6B USD · Net income 8.9B USD · Net margin 13.1%

Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 67.6B USD · Net income 8.9B USD · Net margin 13.1%

Figures over time

Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.

Money flow in fiscal year 2025

Of 100 USD of revenue, 33.8 USD gross profit, 16.5 USD operating income and 13.1 USD net income remained.

Money flow as a table
Fiscal year 2025, amounts in USD, share of revenue
ItemAmountof revenue
Revenue67.6B USD100.0%
Gross profit22.8B USD33.8%
Cost of revenue44.8B USD66.2%
Operating income11.2B USD16.5%
Research & development2.1B USD3.2%
Other operating expenses9.5B USD14.1%
Net income8.9B USD13.1%
Taxes, interest & other (net)2.3B USD3.4%

Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.

Margins

The operating margin rose in 5 years from 10.9% to 16.5%.

Gross marginOperating marginNet margin
  1. Fiscal year 2016: Gross margin 27.2% · Operating margin 1.3% · Net margin −0.2%
  2. Fiscal year 2017: Gross margin 31.2% · Operating margin 9.7% · Net margin 1.7%
  3. Fiscal year 2018: Gross margin 32.4% · Operating margin 15.2% · Net margin 11.2%
  4. Fiscal year 2019: Gross margin 31.9% · Operating margin 15.4% · Net margin 11.3%
  5. Fiscal year 2020: Gross margin 30.3% · Operating margin 10.9% · Net margin 7.2%
  6. Fiscal year 2021: Gross margin 30.3% · Operating margin 13.5% · Net margin 12.7%
  7. Fiscal year 2022: Gross margin 30.4% · Operating margin 13.3% · Net margin 11.3%
  8. Fiscal year 2023: Gross margin 36.2% · Operating margin 19.3% · Net margin 15.4%
  9. Fiscal year 2024: Gross margin 38.0% · Operating margin 20.2% · Net margin 16.7%
  10. Fiscal year 2025: Gross margin 33.8% · Operating margin 16.5% · Net margin 13.1%

Returns

Return on equity rose in 5 years from 19.5% to 41.7%.

Return on equityReturn on assets
  1. Fiscal year 2016: Return on equity −0.5% · Return on assets −0.1%
  2. Fiscal year 2017: Return on equity 5.5% · Return on assets 1.0%
  3. Fiscal year 2018: Return on equity 43.7% · Return on assets 7.8%
  4. Fiscal year 2019: Return on equity 41.7% · Return on assets 7.8%
  5. Fiscal year 2020: Return on equity 19.5% · Return on assets 3.8%
  6. Fiscal year 2021: Return on equity 39.3% · Return on assets 7.8%
  7. Fiscal year 2022: Return on equity 42.2% · Return on assets 8.2%
  8. Fiscal year 2023: Return on equity 53.0% · Return on assets 11.8%
  9. Fiscal year 2024: Return on equity 55.4% · Return on assets 12.3%
  10. Fiscal year 2025: Return on equity 41.7% · Return on assets 9.0%

Equity and long-term debt

The equity ratio rose in 5 years from 19.6% to 21.6%.

EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.
  1. Fiscal year 2016: Equity 13.2B USD · Long-term debt 22.8B USD
  2. Fiscal year 2017: Equity 13.8B USD · Long-term debt 23.8B USD
  3. Fiscal year 2018: Equity 14.1B USD · Long-term debt 25.0B USD
  4. Fiscal year 2019: Equity 14.6B USD · Long-term debt 26.3B USD
  5. Fiscal year 2020: Equity 15.4B USD · Long-term debt 26.0B USD
  6. Fiscal year 2021: Equity 16.5B USD · Long-term debt 26.0B USD
  7. Fiscal year 2022: Equity 15.9B USD · Long-term debt 25.7B USD
  8. Fiscal year 2023: Equity 19.5B USD · Long-term debt 24.5B USD
  9. Fiscal year 2024: Equity 19.5B USD · Long-term debt 27.4B USD
  10. Fiscal year 2025: Equity 21.3B USD · Long-term debt 30.7B USD

Liquidity (current ratio)

The current ratio fell in 5 years from 1.53 to 1.44.

Current ratio
  1. Fiscal year 2016: Current ratio 1.22
  2. Fiscal year 2017: Current ratio 1.35
  3. Fiscal year 2018: Current ratio 1.37
  4. Fiscal year 2019: Current ratio 1.47
  5. Fiscal year 2020: Current ratio 1.53
  6. Fiscal year 2021: Current ratio 1.46
  7. Fiscal year 2022: Current ratio 1.39
  8. Fiscal year 2023: Current ratio 1.35
  9. Fiscal year 2024: Current ratio 1.42
  10. Fiscal year 2025: Current ratio 1.44

Cash flow

Free cash flow rose in 5 years from 5.3B USD to 8.9B USD.

Operating cash flowCapital expenditureFree cash flow in USD
  1. Fiscal year 2016: Operating cash flow 5.6B USD · Capital expenditure 1.1B USD · Free cash flow 4.5B USD
  2. Fiscal year 2017: Operating cash flow 5.7B USD · Capital expenditure 898.0M USD · Free cash flow 4.8B USD
  3. Fiscal year 2018: Operating cash flow 6.6B USD · Capital expenditure 1.3B USD · Free cash flow 5.3B USD
  4. Fiscal year 2019: Operating cash flow 6.9B USD · Capital expenditure 1.1B USD · Free cash flow 5.9B USD
  5. Fiscal year 2020: Operating cash flow 6.3B USD · Capital expenditure 978.0M USD · Free cash flow 5.3B USD
  6. Fiscal year 2021: Operating cash flow 7.2B USD · Capital expenditure 1.1B USD · Free cash flow 6.1B USD
  7. Fiscal year 2022: Operating cash flow 7.8B USD · Capital expenditure 1.3B USD · Free cash flow 6.5B USD
  8. Fiscal year 2023: Operating cash flow 12.9B USD · Capital expenditure 1.6B USD · Free cash flow 11.3B USD
  9. Fiscal year 2024: Operating cash flow 12.0B USD · Capital expenditure 2.0B USD · Free cash flow 10.0B USD
  10. Fiscal year 2025: Operating cash flow 11.7B USD · Capital expenditure 2.8B USD · Free cash flow 8.9B USD

Share count

The share count fell in 5 years by 13.9% (mostly through share repurchases).

Diluted share count
  1. Fiscal year 2016: Diluted share count 584.3M
  2. Fiscal year 2017: Diluted share count 599.3M
  3. Fiscal year 2018: Diluted share count 599.4M
  4. Fiscal year 2019: Diluted share count 567.5M
  5. Fiscal year 2020: Diluted share count 548.6M
  6. Fiscal year 2021: Diluted share count 548.5M
  7. Fiscal year 2022: Diluted share count 530.4M
  8. Fiscal year 2023: Diluted share count 513.6M
  9. Fiscal year 2024: Diluted share count 489.4M
  10. Fiscal year 2025: Diluted share count 472.3M

From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.

Dividends and share repurchases

How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.

Dividend per share
5.94 USD · Fiscal year 2025
Dividend growth per year
3 y +8.0%5 y +7.6%10 y +7.0%
Years without a cut
at least 8 as far as the data goes
Payout ratio
of earnings 32% of free cash flow 31%
To shareholders (5 years)
37.5B USD 66% through repurchases
Share count over 5 years
−13.9% fewer shares – each share is a larger stake

Dividend per share

The dividend per share rose in 5 years from 4.12 USD to 5.94 USD.

Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.
  1. Fiscal year 2016: Dividend per share not available
  2. Fiscal year 2017: Dividend per share 3.11 USD
  3. Fiscal year 2018: Dividend per share 3.36 USD
  4. Fiscal year 2019: Dividend per share 3.95 USD
  5. Fiscal year 2020: Dividend per share 4.12 USD
  6. Fiscal year 2021: Dividend per share 4.36 USD
  7. Fiscal year 2022: Dividend per share 4.71 USD
  8. Fiscal year 2023: Dividend per share 5.10 USD
  9. Fiscal year 2024: Dividend per share 5.53 USD
  10. Fiscal year 2025: Dividend per share 5.94 USD

Payout ratios

The payout ratio fell in 5 years from 75.5% to 31.6%.

Payout ratio (earnings)Payout ratio (free cash flow)
  1. Fiscal year 2016: Payout ratio (earnings) not available · Payout ratio (free cash flow) 40.0%
  2. Fiscal year 2017: Payout ratio (earnings) 246.8% · Payout ratio (free cash flow) 38.1%
  3. Fiscal year 2018: Payout ratio (earnings) 32.7% · Payout ratio (free cash flow) 36.9%
  4. Fiscal year 2019: Payout ratio (earnings) 36.8% · Payout ratio (free cash flow) 36.4%
  5. Fiscal year 2020: Payout ratio (earnings) 75.5% · Payout ratio (free cash flow) 41.9%
  6. Fiscal year 2021: Payout ratio (earnings) 36.9% · Payout ratio (free cash flow) 38.2%
  7. Fiscal year 2022: Payout ratio (earnings) 37.3% · Payout ratio (free cash flow) 37.7%
  8. Fiscal year 2023: Payout ratio (earnings) 25.3% · Payout ratio (free cash flow) 22.7%
  9. Fiscal year 2024: Payout ratio (earnings) 25.1% · Payout ratio (free cash flow) 26.3%
  10. Fiscal year 2025: Payout ratio (earnings) 31.6% · Payout ratio (free cash flow) 30.8%

What goes back to shareholders

Over 5 years, 37.5B USD went back to shareholders, 66% of it through share repurchases. That is 88% of the free cash flow of those years.

Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USD
  1. Fiscal year 2016: Dividends paid 1.8B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 4.5B USD
  2. Fiscal year 2017: Dividends paid 1.8B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 4.8B USD
  3. Fiscal year 2018: Dividends paid 2.0B USD · Share repurchases 3.8B USD · New shares issued (including employee plans) not available · Free cash flow 5.3B USD
  4. Fiscal year 2019: Dividends paid 2.1B USD · Share repurchases 4.0B USD · New shares issued (including employee plans) not available · Free cash flow 5.9B USD
  5. Fiscal year 2020: Dividends paid 2.2B USD · Share repurchases 1.1B USD · New shares issued (including employee plans) not available · Free cash flow 5.3B USD
  6. Fiscal year 2021: Dividends paid 2.3B USD · Share repurchases 2.7B USD · New shares issued (including employee plans) not available · Free cash flow 6.1B USD
  7. Fiscal year 2022: Dividends paid 2.4B USD · Share repurchases 4.2B USD · New shares issued (including employee plans) not available · Free cash flow 6.5B USD
  8. Fiscal year 2023: Dividends paid 2.6B USD · Share repurchases 5.0B USD · New shares issued (including employee plans) not available · Free cash flow 11.3B USD
  9. Fiscal year 2024: Dividends paid 2.6B USD · Share repurchases 7.7B USD · New shares issued (including employee plans) not available · Free cash flow 10.0B USD
  10. Fiscal year 2025: Dividends paid 2.7B USD · Share repurchases 5.2B USD · New shares issued (including employee plans) not available · Free cash flow 8.9B USD

Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.

Valuation over time

Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users.

Sector comparison

Caterpillar Inc. next to 8 stocks of the sector Industrials we cover that are closest in revenue. Click a column header to sort the table.

Sector comparison CAT, sector Industrials; last row: sector median
Symbol Revenue (FY) Growth 5 yrsGross marginOp. marginNet marginROEEquity ratioFCF marginPiotroski
BA Boeing 89.5B USD +9.0%4.8%4.8%2.5%–3.2%−2.1%6/9
UPS United Parcel Service 88.7B USD +0.9%–8.9%6.3%34.3%22.2%5.4%–
RTX RTX Corporation 88.6B USD +9.4%–10.5%7.6%10.3%38.1%9.0%–
LMT Lockheed Martin 75.0B USD +2.8%10.2%10.3%6.7%74.6%11.2%9.2%6/9
CAT Caterpillar Inc. this stock 67.6B USD +10.1%33.8%16.5%13.1%41.7%21.6%13.2%7/9
UAL United Airlines Holdings 59.1B USD +30.9%–8.0%5.7%21.9%20.0%4.3%–
GD General Dynamics 52.6B USD +6.7%–10.2%8.0%16.4%44.8%7.5%–
UBER Uber 52.0B USD +36.1%39.8%10.7%19.3%37.2%43.8%18.8%6/9
GE GE Aerospace 45.9B USD −10.4%––19.0%46.6%14.3%15.8%–
Median of the sector 34 symbols 24.1B USD +9.2%35.4%10.4%12.9%26.3%33.2%9.7%6/9

Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).

Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.

Key figures with traffic lights

Each light follows a simple, disclosed rule. The comparison is with the sector median of all 90 symbols in the Industrials sector on our list (current members of the S&P 500 and other lists).

Revenue growth

Light green: above sector

+10.1% per year, last 5 years

Sector Industrials: median +8.0% (82 symbols)

What does this mean? Revenue: over 5 years it grew by 10.1% per year on average – at least as fast as the median company in the sector (+8.0%).

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net income (total)

Light green: above sector

+24.2% per year, last 5 years

Sector Industrials: median +10.0% (66 symbols)

per share: +28.1% per year (5 years, split-adjusted)

What does this mean? Total net income: over 5 years it grew by 24.2% per year on average – at least as fast as the median company in the sector (+10.0%).

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net margin

Light green: above sector

13.1% last fiscal year

Sector Industrials: median 11.1% (88 symbols)

What does this mean? Of every 100 USD in revenue, 13.14 USD remained as profit – at least as much as the median company in the sector (11.1%). Five years ago the margin was 7.2%.

Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.

Debt / equity

Light red: much higher

1.44 latest balance sheet

Sector Industrials: median 0.58 (77 symbols)

What does this mean? For every 1 USD of equity there is 1.44 USD of financial debt – more than twice as much as the median company in the sector (0.58). More debt amplifies good and bad years alike.

Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.

Payout ratio

Light green: covered

32% Dividend / earnings per share

Sector Industrials: median 35% (65 symbols)

What does this mean? Of every 1 USD of earnings per share, 0.32 USD went to shareholders as a dividend. The rest stays in the company. Median company in the sector: 35%.

Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.

Profitable years

Light yellow: 1 loss year

9 of 10 fiscal years with a profit

What does this mean? In 9 of the last 10 fiscal years the bottom line showed a profit. One year ended with a loss.

Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).

Last fiscal year and 13F

Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
67.6B USD
Revenue vs. prior year
+4.3%
Net income (FY)
8.9B USD
Net income vs. prior year
−17.7%
EPS (FY)
18.81 USD
13F funds with a position
0 of 9
Funds vs. prior quarter
−1
Shares held vs. prior quarter
−100.0%
Fiscal year to Dec 31, 2025 · 10-K filed Feb 13, 2026 · Balance sheet Dec 31, 2025 (filed Feb 13, 2026) · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term). 13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
YearEndRevenueNet income MarginEarnings per shareDividend per sharePayout
2025Dec 31, 2025 67.6B8.9B 13.1% 18.81 5.94 32%
2024Dec 31, 2024 64.8B10.8B 16.6% 22.05 5.53 25%
2023Dec 31, 2023 67.1B10.3B 15.4% 20.12 5.10 25%
2022Dec 31, 2022 59.4B6.7B 11.3% 12.64 4.71 37%
2021Dec 31, 2021 51.0B6.5B 12.7% 11.83 4.36 37%
2020Dec 31, 2020 41.7B3.0B 7.2% 5.46 4.12 75%
2019Dec 31, 2019 53.8B6.1B 11.3% 10.74 3.95 37%
2018Dec 31, 2018 54.7B6.1B 11.2% 10.26 3.36 33%
2017Dec 31, 2017 45.5B759.0M 1.7% 1.26 3.11 247%
2016Dec 31, 2016 38.5B−59.0M −0.2% −0.11 3.08 –
Quarters (amounts in USD, per share in USD)
QuarterEndRevenueNet income MarginEarnings per shareDividend per sharePayout
Q2/26Jun 30, 2026 20.5B3.6B 17.5% 7.77 3.14 40%
Q1/26Mar 31, 2026 17.4B2.5B 14.6% 5.47 – –
Q4/25*Dec 31, 2025 19.1B2.4B 12.5% – 3.02 –
Q3/25Sep 30, 2025 17.6B2.3B 13.0% 4.88 – –
Q2/25Jun 30, 2025 16.6B2.2B 13.2% 4.62 2.92 63%
Q1/25Mar 31, 2025 14.2B2.0B 14.1% 4.20 – –
Q4/24*Dec 31, 2024 16.2B2.8B 17.2% – 2.82 –
Q3/24Sep 30, 2024 16.1B2.5B 15.3% 5.06 – –
Q2/24Jun 30, 2024 16.7B2.7B 16.1% 5.48 2.71 49%
Q1/24Mar 31, 2024 15.8B2.9B 18.1% 5.75 – –
Q4/23*Dec 31, 2023 17.1B2.7B 15.7% – 2.60 –
Q3/23Sep 30, 2023 16.8B2.8B 16.6% 5.45 – –

* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.

How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.

Insiders

All insider transactions
Insider purchases and sales on the market over 3, 6 and 12 months
PeriodPurchasesSalesNet
3 months $00 people $26.2M1 person −$26.2M
6 months $219.2K1 person $113.9M8 people −$113.6M
12 months $389.9K1 person $244.4M8 people −$244.0M

Latest transactions

  • Aug 28, 2026 Creed Joseph E Chief executive (CEO) Open-market sale 4,831 shares · $3.9M · SEC
  • Aug 28, 2026 Creed Joseph E Chief executive (CEO) Open-market sale 1,280 shares · $1.0M · SEC
  • Aug 28, 2026 Creed Joseph E Chief executive (CEO) Open-market sale 5,035 shares · $4.1M · SEC
  • Aug 28, 2026 Creed Joseph E Chief executive (CEO) Open-market sale 3,041 shares · $2.5M · SEC
  • Aug 28, 2026 Creed Joseph E Chief executive (CEO) Open-market sale 2,137 shares · $1.7M · SEC
  • Aug 28, 2026 Creed Joseph E Chief executive (CEO) Open-market sale 2,639 shares · $2.1M · SEC

Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.

Trend score -40

Price vs. EMA 50-15
Price vs. EMA 200-15
EMA 50 vs. EMA 200+20
ADX (trend strength)-15
Highs and lows+0
Relative strength-15

Volatility and trend strength

ADX 14 (trend strength)28.9
Rel. strength 60 d−17.1%

ATR and moving averages as price values only when logged in.

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