Caterpillar Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	63,980	61,363	63,869	56,574	48,188
Other Revenue	3,609	3,446	3,191	2,853	2,783
Revenue	67,589	64,809	67,060	59,427	50,971
Revenue Growth (YoY)	4.29%	-3.36%	12.84%	16.59%	22.09%
Cost of Revenue	44,752	40,199	42,767	41,350	35,513
Gross Profit	19,462	21,088	21,275	15,565	13,189
Selling, General & Admin	6,143	5,716	5,619	4,110	3,433
Research & Development	2,148	2,107	2,108	1,814	1,686
Other Operating Expenses	-93	-298	-120	-115	-204
Operating Expenses	8,198	7,525	7,607	5,809	4,915
Operating Income	11,264	13,563	13,668	9,756	8,274
Interest Expense	-502	-512	-511	-443	-488
Interest & Investment Income	-	482	494	167	80
Earnings From Equity Investments	109	44	63	19	31
Currency Exchange Gain (Loss)	-	71	-96	104	110
Other Non Operating Income (Expenses)	779	-29	155	234	124
EBT Excluding Unusual Items	11,650	13,619	13,773	9,837	8,131
Merger & Restructuring Charges	-	-241	-670	-84	-31
Impairment of Goodwill	-	-	-	-925	-
Gain (Loss) on Sale of Investments	-	39	11	-56	134
Other Unusual Items	-	-	-1	-1	1
Pretax Income	11,650	13,417	13,113	8,771	8,235
Income Tax Expense	2,768	2,629	2,781	2,067	1,742
Earnings From Continuing Operations	8,882	10,788	10,332	6,704	6,493
Minority Interest in Earnings	2	4	3	1	-4
Net Income	8,884	10,792	10,335	6,705	6,489
Net Income to Common	8,884	10,792	10,335	6,705	6,489
Net Income Growth	-17.68%	4.42%	54.14%	3.33%	116.44%
Shares Outstanding (Basic)	470	487	511	527	544
Shares Outstanding (Diluted)	472	489	514	530	549
Shares Change (YoY)	-3.49%	-4.71%	-3.17%	-3.30%	-0.02%
EPS (Basic)	18.90	22.17	20.24	12.73	11.93
EPS (Diluted)	18.81	22.05	20.12	12.64	11.83
EPS Growth	-14.69%	9.59%	59.18%	6.85%	116.67%
Free Cash Flow	7,453	8,820	9,793	5,167	4,726
Free Cash Flow Per Share	15.78	18.02	19.07	9.74	8.62
Dividend Per Share	5.940	5.530	5.100	4.710	4.360
Dividend Growth	7.41%	8.43%	8.28%	8.03%	5.83%
Gross Margin	28.79%	32.54%	31.72%	26.19%	25.87%
Operating Margin	16.66%	20.93%	20.38%	16.42%	16.23%
Profit Margin	13.14%	16.65%	15.41%	11.28%	12.73%
Free Cash Flow Margin	11.03%	13.61%	14.60%	8.70%	9.27%
EBITDA	13,526	15,646	15,812	11,975	10,626
EBITDA Margin	20.01%	24.14%	23.58%	20.15%	20.85%
D&A For EBITDA	2,262	2,083	2,144	2,219	2,352
EBIT	11,264	13,563	13,668	9,756	8,274
EBIT Margin	16.66%	20.93%	20.38%	16.42%	16.23%
Effective Tax Rate	23.76%	19.60%	21.21%	23.57%	21.15%
Revenue as Reported	67,589	64,809	67,060	59,427	50,971

Source: S&P Global Market Intelligence. Standard template. Financial Sources.