CATERPILLAR INC
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 36,210 | 62.9 |
| Stockholders' equity | 21,318 | 37.1 |
| Total capitalization | 57,528 | 100.0 |
459,674,889 shares outstanding at 30 June 2026 (cover page of the 10-Q filed 5 August 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, noncurrent | 30,696 |
| Short-term borrowings / commercial paper | 5,514 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 2,000,000,000 |
| Common shares issued | 814,894,624 |
| Treasury shares | 349,607,292 |
| Par or stated value per share ($) | 1 |
| Outstanding at 6/30/26 | 459,674,889 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 5.94 | 31.6 |
| 2024 | 5.53 | 25.1 |
| 2023 | 5.10 | 25.3 |
| 2022 | 4.71 | 37.3 |
| 2021 | 4.36 | 36.9 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware.
BUSINESS: Classified by the SEC under Standard Industrial Classification 3531, Construction Machinery & Equip. Large accelerated filer. Principal executive office: 5205 N. O'Connor Boulevard, Suite 100, Irving, TX 75039. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 67,589 | 64,809 | 67,060 |
| Cost of revenues | 44,752 | 40,199 | 42,767 |
| Research and development | 2,148 | 2,107 | 2,108 |
| Selling, general and administrative | 6,985 | 6,667 | 6,371 |
| Depreciation and amortization | 2,262 | 2,153 | 2,144 |
| Operating income | 11,151 | 13,072 | 12,966 |
| Income before income taxes | 11,541 | 13,373 | 13,050 |
| Income taxes | 2,768 | 2,629 | 2,781 |
| Net income | 8,882 | 10,788 | 10,332 |
| Earned per share, diluted ($) | 18.81 | 22.05 | 20.12 |
| Dividends per share ($) | 5.94 | 5.53 | 5.10 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 9,980 | 6,889 |
| Receivables, net | 10,920 | 9,282 |
| Inventories | 18,135 | 16,827 |
| Total current assets | 52,485 | 45,682 |
| Property, plant and equipment, net | 15,140 | 13,361 |
| Goodwill | 5,321 | 5,241 |
| Total assets | 98,585 | 87,764 |
| Total current liabilities | 36,558 | 32,272 |
| Long-term debt | 30,696 | 27,351 |
| Total liabilities | 77,267 | 68,270 |
| Total liabilities and equity | 98,585 | 87,764 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 67,589 | 11,151 | 8,884 | 13.1 | 18.81 | 5.94 | 11,739 | 2,821 | 8,918 | 98,585 | 77,267 | 36,210 | 21,318 | 41.7 | 1.70 |
| 12/31/24 | 64,809 | 13,072 | 10,792 | 16.7 | 22.05 | 5.53 | 12,035 | 1,988 | 10,047 | 87,764 | 68,270 | 31,744 | 19,494 | 55.4 | 1.63 |
| 12/31/23 | 67,060 | 12,966 | 10,335 | 15.4 | 20.12 | 5.10 | 12,885 | 1,597 | 11,288 | 87,476 | 67,973 | 29,115 | 19,503 | 53.0 | 1.49 |
| 12/31/22 | 59,427 | 7,904 | 6,705 | 11.3 | 12.64 | 4.71 | 7,766 | 1,296 | 6,470 | 81,943 | 66,052 | 31,671 | 15,891 | 42.2 | 1.99 |
| 12/31/21 | 50,971 | 6,878 | 6,489 | 12.7 | 11.83 | 4.36 | 7,198 | 1,093 | 6,105 | 82,793 | 66,277 | 31,437 | 16,516 | 39.3 | 1.90 |
| 12/31/20 | 41,748 | 4,553 | 2,998 | 7.2 | 5.46 | 4.12 | 6,327 | 978 | 5,349 | 78,324 | 62,946 | 28,014 | 15,378 | 19.5 | 1.82 |
| 12/31/19 | 53,800 | 8,290 | 6,093 | 11.3 | 10.74 | 3.95 | 6,912 | 1,056 | 5,856 | 78,453 | 63,824 | 31,447 | 14,629 | 41.7 | 2.15 |
| 12/31/18 | 54,722 | 8,293 | 6,147 | 11.2 | 10.26 | 3.36 | 6,558 | 1,276 | 5,282 | 78,509 | 64,429 | 30,723 | 14,080 | 43.7 | 2.18 |
| 12/31/17 | 45,462 | 4,460 | 754 | 1.7 | 1.26 | 3.11 | 5,706 | 898 | 4,808 | 76,962 | 63,196 | 28,684 | 13,766 | 5.5 | 2.08 |
| 12/31/16 | 38,537 | 1,162 | (67) | -0.2 | (0.11) | 3.08 | 5,639 | 1,109 | 4,530 | 74,704 | 61,491 | 30,121 | 13,228 | -0.5 | 2.28 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
CATERPILLAR INC
CIK 18230 · EIN 37-0602744
PRINCIPAL OFFICE:
5205 N. O'Connor Boulevard, Suite 100, Irving, TX 75039
Tel.: 9728917700
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
3531 · Construction Machinery & Equip
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 13 February 2026
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/13/26) · 10-K FY2024 (filed 2/14/25) · 10-K FY2023 (filed 2/16/24) · 10-K FY2022 (filed 2/15/23) · 10-K FY2021 (filed 2/16/22) · 10-K FY2020 (filed 2/17/21) · 10-K FY2019 (filed 2/19/20) · 10-K FY2018 (filed 2/14/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.