Global manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines.
Profile & Fundamentals
Caterpillar: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Caterpillar Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
Explore this pageJump to a Profile & Fundamentals section
Explore this research
Profile & Fundamentals contents
Jump directly to any section
Company and Market Context
Company Profile & Ownership
Caterpillar Inc. provides construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. The Construction Industries segment offers asphalt pavers, cold planers, compactors, forestry machines, material handlers, motor graders, pipelayers, road reclaimers, telehandlers, track-type tractors, and track and wheel excavators; backhoe, compact track, skid steer, track-type, and wheel loaders; and related parts and work tools. Its Resource Industries segment provides electric rope and hydraulic shovels, draglines, rotary drills, hard rock vehicles, mining trucks, wheel loaders, off-highway and articulated trucks, wide-body trucks, wheel tractor scrapers and dozers, and landfill and soil compactors; machinery components, and wear and maintenance components; and technology products and services for fleet management, equipment management analytics, autonomous machine capabilities, safety services, and mining performance solutions. The Energy & Transportation segment offers reciprocating engine powered generator sets; reciprocating engines, drivetrain, and integrated systems and solutions; centrifugal gas compressors and related services; and diesel-electric locomotive components, and other rail-related products. Its Financial Products segment provides operating and finance leases, revolving charge accounts, installment sale contracts, repair/rebuild financing, working capital loans, and wholesale financing; and insurance and risk management products and services. The All Other segment offers parts distribution; logistics and distribution services; electronics and control systems; dealer portfolio management; brand management and marketing strategy; and digital investment services. It also provides mining software solutions. The company was formerly known as Caterpillar Tractor Co. Caterpillar Inc. was incorporated in 1925 and is headquartered in Irving, Texas.
Company profile record
Caterpillar Inc
Common Stock · Industrials · Construction Machinery & Heavy Transportation Equipment
Company
- Company / asset
- Caterpillar Inc
- Security type
- Common Stock
- Sector
- Industrials
- Industry
- Construction Machinery & Heavy Transportation Equipment
- HQ
- 🇺🇸 United States
- Head office
- 5205 N. O'Connor Boulevard, Irving, TX, United States, 75039
Leadership & scale
- Chief executive
- Mr. Joseph E. Creed CPA
- CEO year born
- 1976
- Full-time employees
- 118K
- Fiscal year end
- December
- IPO date
- 1962-01-02
Fundamentals snapshot
- Market Cap
- USD 399.3B
- P/E
- 36.9x
- Revenue (Q2 26)
- USD 20.5B
- Profit (Q2 26)
- USD 3.6B
- Dividend Yield
- 0.5%
- Revenue (FY 25)
- USD 67.6B
- Shares in public float
- 458.2M
- Insider ownership
- 0.22%
Reporting & identifiers
- Symbol
- CAT.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US1491231015
- Asset ID
- equity_396caf80-29d7-5d17-adb8-e2e1e368773e
Ownership
Shares Outstanding
Latest: 462.5M | Max: 596.4M | Min: 462.5M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
99.08%
458.2M latest reported shares
Insider Ownership
0.22%
Latest reported insider stake
Short Float
0.02%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 596,400,000 |
| 2018-01-01 | 587,600,000 |
| 2019-01-01 | 556,100,000 |
| 2020-01-01 | 549,500,000 |
| 2021-01-01 | 542,600,000 |
| 2022-01-01 | 520,900,000 |
| 2023-01-01 | 507,000,000 |
| 2024-01-01 | 486,700,000 |
| 2025-01-01 | 469,000,000 |
| 2026-01-01 | 462,500,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 37,169,433 | 8.09% | 2026-03-31 |
| State Street Corp | 34,880,604 | 7.59% | 2026-03-31 |
| Vanguard Capital Management, LLC | 30,234,453 | 6.58% | 2026-03-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 14,636,686 | 3.18% | 2026-08-31 |
| State Farm Mutual Automobile Ins Co | 14,509,304 | 3.16% | 2026-06-30 |
| Vanguard 500 Index Investor | 12,234,899 | 2.66% | 2026-08-31 |
| Vanguard Portfolio Management, LLC | 11,705,890 | 2.55% | 2026-03-31 |
| Geode Capital Management, LLC | 11,127,483 | 2.42% | 2026-03-31 |
| Fisher Asset Management, LLC | 9,942,521 | 2.16% | 2026-06-30 |
| Morgan Stanley - Brokerage Accounts | 7,499,662 | 1.63% | 2026-03-31 |
| Gates Bill & Melinda Foundation | 6,353,614 | 1.38% | 2026-06-30 |
| iShares Core S&P 500 ETF | 6,133,620 | 1.33% | 2026-08-31 |
| Fidelity 500 Index | 5,955,937 | 1.3% | 2026-07-31 |
| Northern Trust Corp | 5,678,795 | 1.24% | 2026-03-31 |
| Bank of America Corp | 5,677,578 | 1.24% | 2026-03-31 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Caterpillar's recent financial results show an impressive operational rebound, highlighted by second-quarter 2026 revenue jumping 24% year-over-year to $20.5 billion and trailing twelve-month free cash flow reaching nearly $9 billion. This performance was driven by urgent customer orders for massive backup generators and gas turbines to power data centers, reversing a mild industrial pause experienced during 2025. However, headline profits conceal significant differences between business lines. While power systems and heavy mining machines are expanding rapidly, ordinary construction equipment is beginning to slow as higher borrowing costs bite. Furthermore, second-quarter earnings benefited from a nonrecurring $392 million tariff recovery, meaning underlying profit margins are closer to normal targets than initial headline figures suggest.
Caterpillar's recent financial results show an impressive operational rebound, highlighted by second-quarter 2026 revenue jumping 24% year-over-year to $20.5 billion and trailing twelve-month free cash flow reaching nearly $9 billion. This performance was driven by urgent customer orders for massive backup generators and gas turbines to power data centers, reversing a mild industrial pause experienced during 2025. However, headline profits conceal significant differences between business lines. While power systems and heavy mining machines are expanding rapidly, ordinary construction equipment is beginning to slow as higher borrowing costs bite. Furthermore, second-quarter earnings benefited from a nonrecurring $392 million tariff recovery, meaning underlying profit margins are closer to normal targets than initial headline figures suggest.
Revenue, Net Income, and Free Cash Flow
Latest: USD 67.6B | Max: USD 67.6B | Min: USD -67.0M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 30x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability has staged a sharp cyclical recovery, with adjusted operating margins rebounding from roughly 16.6% in 2025 to over 21% in mid-2026. This margin strength reflects exceptional pricing power on specialized power turbines and high-horsepower generator sets, combined with the rising contribution of high-margin proprietary replacement parts. Sustaining these peak profit margins will prove challenging as the economic cycle matures. Annual import tariffs impose an ongoing cost burden of approximately $2.2 billion, while independent dealers face higher inventory holding costs that could force promotional price discounts on earthmoving equipment. Consolidated operating margins will likely settle toward a sustainable mid-cycle range of 15% to 17% over coming years.
Profitability has staged a sharp cyclical recovery, with adjusted operating margins rebounding from roughly 16.6% in 2025 to over 21% in mid-2026. This margin strength reflects exceptional pricing power on specialized power turbines and high-horsepower generator sets, combined with the rising contribution of high-margin proprietary replacement parts. Sustaining these peak profit margins will prove challenging as the economic cycle matures. Annual import tariffs impose an ongoing cost burden of approximately $2.2 billion, while independent dealers face higher inventory holding costs that could force promotional price discounts on earthmoving equipment. Consolidated operating margins will likely settle toward a sustainable mid-cycle range of 15% to 17% over coming years.
Profitability Margins
Latest: 32.3% | Max: 36.0% | Min: -0.2%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
32.3%
Gross profit / revenue
Operating Margin
16.6%
Operating income / revenue
Net Margin
13.1%
Net income / revenue
FCF Margin
11.0%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 38,537,000,000 | -67,000,000 | 2,711,000,000 |
| 2017-12-31 | 45,462,000,000 | 754,000,000 | 3,370,000,000 |
| 2018-12-31 | 54,722,000,000 | 6,147,000,000 | 3,642,000,000 |
| 2019-12-31 | 53,800,000,000 | 6,093,000,000 | 4,243,000,000 |
| 2020-12-31 | 41,748,000,000 | 2,998,000,000 | 4,212,000,000 |
| 2021-12-31 | 50,971,000,000 | 6,489,000,000 | 4,726,000,000 |
| 2022-12-31 | 59,427,000,000 | 6,705,000,000 | 5,167,000,000 |
| 2023-12-31 | 67,060,000,000 | 10,335,000,000 | 9,793,000,000 |
| 2024-12-31 | 64,809,000,000 | 10,792,000,000 | 8,820,000,000 |
| 2025-12-31 | 67,589,000,000 | 8,873,000,000 | 7,453,000,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 30.28 | Trailing four quarters |
| 2024-12-31 | 16.36 | Trailing four quarters |
| 2023-12-31 | 14.5 | Trailing four quarters |
| 2022-12-31 | 18.61 | Annual net income |
| 2021-12-31 | 17.29 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 25.68 | 3.02 | -0.17 | 7.03 |
| 2017-12-31 | 29.82 | 9.81 | 1.66 | 7.41 |
| 2018-12-31 | 31.07 | 15.15 | 11.23 | 6.66 |
| 2019-12-31 | 30.51 | 15.41 | 11.33 | 7.89 |
| 2020-12-31 | 28.93 | 10.91 | 7.18 | 10.09 |
| 2021-12-31 | 29.43 | 13.49 | 12.73 | 9.27 |
| 2022-12-31 | 29.47 | 13.3 | 11.28 | 8.69 |
| 2023-12-31 | 34.69 | 19.33 | 15.41 | 14.6 |
| 2024-12-31 | 35.99 | 20.17 | 16.65 | 13.61 |
| 2025-12-31 | 32.34 | 16.59 | 13.13 | 11.03 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
Complete Research Workspace
Unlock the complete Profile & Fundamentals
Sign in to verify your access, or upgrade to the Base plan to open the complete profile & fundamentals and available source data.