CATERPILLAR INC (CAT) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — CAT

Balance Sheet

(in billions USD)

Metric	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	4.07	7.54	5.44	3.56	5.64	4.34	4.96	6.55	7.39	6.79	6.35	6.01	6.53	9.45	10.84	11.35
Accounts Receivable	11.45	10.15	9.70	9.12	9.09	9.42	9.30	9.13	9.42	9.23	8.16	8.39	9.14	7.65	7.84	7.96
Inventory	19.63	18.96	18.60	17.86	17.31	17.08	16.95	17.58	17.75	17.63	16.86	15.88	15.04	13.67	12.67	12.15
Total Current Assets	48.57	49.82	46.76	43.02	44.95	43.10	43.66	48.01	47.00	45.66	42.58	41.98	42.57	41.89	42.95	42.58
Property, Plant & Equipment	15.25	14.31	13.90	13.43	12.84	12.58	12.54	12.29	12.12	11.97	11.64	11.74	11.93	11.90	12.01	12.13
Goodwill	5.87	5.33	5.33	5.27	5.32	5.26	5.28	5.27	5.29	5.31	6.09	6.20	6.29	6.35	6.37	6.34
Intangible Assets	0.42	0.28	0.32	0.36	0.45	0.49	0.52	0.60	0.63	0.69	0.81	0.89	0.97	1.12	1.18	1.25
Total Non-current Assets*	46.98	43.90	43.57	41.96	41.33	40.24	40.08	38.79	38.43	37.99	38.33	39.13	39.71	38.89	38.75	38.15
Total Assets	95.55	93.72	90.33	84.97	86.27	83.34	83.74	86.79	85.43	83.65	80.91	81.11	82.28	80.78	81.70	80.73
Accounts Payable	9.64	8.73	8.56	7.79	7.71	7.58	7.78	7.83	8.44	8.95	8.26	8.09	8.36	7.22	6.92	6.69
Total Current Liabilities	35.90	35.99	34.93	32.60	32.22	33.56	32.37	33.12	35.31	31.84	30.20	28.96	29.53	25.98	27.51	26.58
Total Non-current Liabilities*	40.99	37.07	36.73	34.31	34.65	32.64	33.73	33.16	31.86	33.64	35.08	36.39	35.65	38.11	37.31	37.53
Total Liabilities	76.89	73.06	71.66	66.90	66.87	66.20	66.10	66.28	67.17	65.48	65.29	65.35	65.18	64.09	64.82	64.11
Retained Earnings	68.00	64.46	62.16	61.36	57.92	55.46	54.11	49.89	47.09	45.46	43.30	41.26	40.82	38.36	36.93	36.70
Total Stockholder Equity*	18.66	20.66	18.66	18.07	19.40	17.14	17.65	20.51	18.26	18.17	15.62	15.76	17.10	16.70	16.88	16.62

* Derived from reported values

Income Statement

(in billions USD) (except per-share rows)

Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Total Revenue	17.42	19.13	17.64	16.57	14.25	16.22	16.11	16.69	15.80	17.07	16.81	17.32	15.86	16.60	14.99	14.25	13.59	13.80	12.40	12.89
Cost of Revenue	11.31	13.31	11.67	10.81	0.03	10.32	10.07	10.15	9.66	11.02	10.58	11.07	10.10	11.61	10.20	9.98	9.56	10.00	8.62	8.88
Gross Profit	6.11	5.83	5.97	5.76	5.28	5.89	6.04	6.54	6.14	6.05	6.23	6.25	5.76	4.98	4.79	4.27	4.03	3.80	3.78	4.01
Research & Development	0.54	0.56	0.56	0.55	0.48	0.52	0.53	0.54	0.52	0.55	0.55	0.53	0.47	0.40	0.48	0.48	0.46	0.44	0.43	0.45
Selling, General & Admin	1.82	1.88	1.82	1.69	1.59	1.77	1.67	1.65	1.58	1.76	1.62	1.53	1.46	1.48	1.40	1.43	1.35	1.42	1.34	1.36
Total Operating Expenses	3.02	3.17	2.91	2.90	2.71	2.97	2.89	3.06	2.62	2.92	2.78	2.60	3.03	3.30	2.37	2.33	2.17	2.18	2.12	2.22
Operating Income	3.09	2.66	3.05	2.86	2.58	2.92	3.15	3.48	3.52	3.13	3.45	3.65	2.73	1.68	2.42	1.94	1.86	1.61	1.66	1.79
Pretax Income	3.21	3.03	3.13	2.82	2.57	3.24	3.10	3.50	3.53	3.25	3.52	3.65	2.63	2.10	2.56	2.10	2.00	2.56	1.78	1.87
Tax Provision	0.67	0.71	0.84	0.65	0.57	0.46	0.64	0.84	0.69	0.59	0.73	0.75	0.71	0.64	0.53	0.43	0.47	0.43	0.37	0.47
Net Income	2.55	2.40	2.30	2.18	2.00	2.79	2.46	2.68	2.85	2.67	2.79	2.92	1.94	1.45	2.04	1.67	1.54	2.12	1.43	1.41
Basic EPS	5.50	5.13	4.91	4.64	4.22	5.80	5.09	5.50	5.78	5.30	5.48	5.70	3.76	2.80	3.89	3.15	2.88	3.93	2.62	2.58
Diluted EPS	5.47	5.11	4.88	4.62	4.20	5.76	5.06	5.48	5.75	5.26	5.45	5.67	3.74	2.78	3.87	3.13	2.86	3.90	2.60	2.56

Cash Flow Statement

(in billions USD)

Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Operating Cash Flow	1.87	3.59	3.74	3.12	1.29	3.39	3.57	3.02	2.05	4.00	4.06	3.25	1.57	2.74	2.48	2.23	0.31	1.41	1.74	2.12
Capital Expenditures	0.73	0.90	0.66	0.56	0.71	0.70	0.44	0.34	0.50	0.54	0.38	0.26	0.42	0.43	0.28	0.24	0.35	0.42	0.25	0.17
Free Cash Flow*	1.14	2.69	3.08	2.57	0.58	2.69	3.13	2.68	1.55	3.47	3.68	2.99	1.15	2.31	2.20	1.99	(0.03)	0.99	1.49	1.95
Investing Cash Flow	(1.77)	(1.88)	(1.32)	(1.33)	(0.17)	(1.65)	(1.04)	(0.72)	0.96	(0.55)	(3.43)	(1.20)	(0.68)	(0.84)	0.19	(0.57)	(1.31)	(0.99)	(0.37)	(1.24)
Financing Cash Flow	(5.95)	0.75	(0.30)	0.15	(4.50)	(0.43)	(1.21)	(2.93)	(5.00)	(3.03)	(1.40)	(1.39)	(1.11)	(1.12)	(2.27)	(2.18)	(1.71)	(0.59)	(2.75)	(1.40)

* Derived from reported values

Dividends Per Share

(USD)

Metric	Q4 2025	Q3 2025	Q2 2025	Q4 2024	Q3 2024	Q2 2024	Q4 2023	Q3 2023	Q2 2023	Q4 2022	Q3 2022	Q2 2022	Q4 2021	Q3 2021	Q2 2021	Q4 2020	Q3 2020	Q2 2020	Q4 2019	Q3 2019
Dividends Per Share	3.02	0.00	2.92	2.82	0.00	2.71	2.60	0.00	2.50	2.40	0.00	2.31	2.22	0.00	2.14	2.06	0.00	2.06	2.06	0.00