Caterpillar Inc. (CAT) Financial Statements
Caterpillar financial statements at a glance
Caterpillar reported revenue of $67.59 billion for fiscal year 2025 (ended December 31, 2025), up 4.3% from fiscal year 2024. Net income was $8.88 billion, a net margin of 13.1%, and diluted earnings per share were $18.81.
At the end of fiscal year 2025 it had total assets of $98.59 billion, total liabilities of $77.27 billion and shareholders' equity of $21.32 billion, with cash and short-term investments of $9.98 billion and total debt of $43.33 billion.
Its operations brought in $11.74 billion of cash; capital spending was $4.29 billion, leaving free cash flow of $7.45 billion.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Caterpillar Inc.
Income Statement
Annual • USD
Caterpillar key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $67.6B | $64.8B | $67.1B | $59.4B | $51.0B |
| Gross profit | $21.5B | $24.7B | $24.4B | $18.3B | $15.0B |
| Operating income | $11.2B | $13.1B | $13.0B | $7.9B | $6.9B |
| Net income | $8.9B | $10.8B | $10.3B | $6.7B | $6.5B |
| Diluted EPS | $18.81 | – | – | – | $11.83 |
| Total assets | $98.6B | $87.8B | $87.5B | $81.9B | $82.8B |
| Total liabilities | $77.3B | $68.3B | $68.0B | $66.1B | $66.3B |
| Shareholders' equity | $21.3B | $19.5B | $19.5B | $15.9B | $16.5B |
| Cash and short-term investments | $10.0B | – | – | – | $9.3B |
| Total debt | $43.3B | $38.4B | $37.9B | $37.0B | $37.8B |
| Operating cash flow | $11.7B | $12.0B | $12.9B | $7.8B | $7.2B |
| Capital spending | $4.3B | – | – | – | $2.5B |
| Free cash flow | $7.5B | – | – | – | $4.7B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Caterpillar's revenue in fiscal year 2025?
$67.59 billion, up 4.3% from $64.81 billion in fiscal year 2024.
How much profit does Caterpillar make?
Caterpillar reported net income of $8.88 billion for fiscal year 2025 (13.1% of revenue); operating income was $11.15 billion.
How much cash and debt does Caterpillar have?
At the end of fiscal year 2025: cash and short-term investments of $9.98 billion and total debt of $43.33 billion.
What is Caterpillar's free cash flow?
$7.45 billion in fiscal year 2025 (operating cash flow of $11.74 billion minus capital spending of $4.29 billion).
