Caterpillar Inc. (CAT)
NYSE: CAT · Real-Time Price · USD
553.64
-37.66 (-6.37%)
At close: Nov 5, 2026, 4:00 PM EST
559.46
+5.82 (1.05%)
After-hours: Nov 5, 2026, 7:59 PM EST
Caterpillar Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Net Income | 11,831 | 8,884 | 10,792 | 10,335 | 6,705 | 6,489 |
Depreciation & Amortization | 2,359 | 2,197 | 2,153 | 2,144 | 2,219 | 2,352 |
Loss (Gain) From Sale of Assets | 169 | 30 | 164 | 572 | - | - |
Asset Writedown & Restructuring Costs | 65 | 65 | - | - | 925 | - |
Other Operating Activities | 980 | 911 | -215 | -317 | -283 | -996 |
Change in Accounts Receivable | -5,111 | -2,138 | -160 | -437 | -220 | -1,259 |
Change in Inventory | -3,580 | -1,477 | -414 | -364 | -2,589 | -2,586 |
Change in Accounts Payable | 1,845 | 1,179 | -282 | -754 | 798 | 2,041 |
Change in Unearned Revenue | 4,286 | 1,933 | 370 | 80 | 768 | 34 |
Change in Other Net Operating Assets | 1,340 | 155 | -373 | 1,626 | -557 | 1,123 |
Operating Cash Flow | 14,184 | 11,739 | 12,035 | 12,885 | 7,766 | 7,198 |
Operating Cash Flow Growth | 22.90% | -2.46% | -6.60% | 65.92% | 7.89% | 13.77% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Capital Expenditures | -4,568 | -4,286 | -3,215 | -3,092 | -2,599 | -2,472 |
Sale of Property, Plant & Equipment | 937 | 708 | 722 | 781 | 830 | 1,265 |
Divestitures | -82 | 22 | -61 | -4 | 1 | 36 |
Investment in Securities | -1,573 | 517 | 1,626 | -2,589 | -782 | -1,471 |
Other Investing Activities | 264 | 75 | 193 | 97 | 14 | 79 |
Investing Cash Flow | -6,635 | -4,707 | -2,453 | -5,871 | -2,541 | -3,084 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Short-Term Debt Issued | - | 1,106 | - | - | 402 | 3,488 |
Long-Term Debt Issued | - | 11,105 | 10,283 | 8,257 | 6,674 | 6,989 |
Total Debt Issued | 14,141 | 12,211 | 10,283 | 8,257 | 7,076 | 10,477 |
Short-Term Debt Repaid | - | - | -168 | -1,345 | - | - |
Long-Term Debt Repaid | - | -8,081 | -9,316 | -6,318 | -7,728 | -9,796 |
Total Debt Repaid | -10,119 | -8,081 | -9,484 | -7,663 | -7,728 | -9,796 |
Net Debt Issued (Repaid) | 4,022 | 4,130 | 799 | 594 | -652 | 681 |
Issuance of Common Stock | - | - | 20 | 12 | 51 | 135 |
Repurchase of Common Stock | -8,134 | -5,263 | -7,737 | -4,975 | -4,230 | -2,668 |
Common Dividends Paid | -2,854 | -2,749 | -2,646 | -2,563 | -2,440 | -2,332 |
Other Financing Activities | -109 | -17 | -1 | - | -10 | -4 |
Financing Cash Flow | -7,075 | -3,899 | -9,565 | -6,932 | -7,281 | -4,188 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -83 | -43 | -106 | -110 | -194 | -29 |
Net Cash Flow | 391 | 3,090 | -89 | -28 | -2,250 | -103 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Free Cash Flow | 9,616 | 7,453 | 8,820 | 9,793 | 5,167 | 4,726 |
Free Cash Flow Growth | 27.20% | -15.50% | -9.94% | 89.53% | 9.33% | 12.20% |
Free Cash Flow Margin | 12.36% | 11.03% | 13.61% | 14.60% | 8.70% | 9.27% |
Free Cash Flow Per Share | 20.70 | 15.78 | 18.02 | 19.07 | 9.74 | 8.62 |
Levered Free Cash Flow | 4,126 | 5,839 | 5,290 | 8,563 | 3,576 | 7,036 |
Unlevered Free Cash Flow | 4,455 | 6,153 | 5,610 | 8,883 | 3,853 | 7,341 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Cash Interest Paid | 1,842 | 1,842 | 1,738 | 1,435 | 959 | 920 |
Cash Income Tax Paid | 2,206 | 2,206 | 3,126 | 2,949 | 3,076 | 1,759 |
Change in Working Capital | -1,220 | -348 | -859 | 151 | -1,800 | -647 |