Caterpillar Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $67.59B | $64.81B | $67.06B | $59.43B | $50.97B | $41.75B | $53.80B | $54.72B |
| Construction Industries | $24.80B | $25.34B | $27.29B | $25.13B | $21.99B | $16.88B | $22.56B | $23.12B |
| Resource Industries | $12.19B | $12.02B | $13.24B | $12.01B | $9.50B | $7.45B | $9.81B | $9.89B |
| Energy & Transportation | $27.14B | $24.09B | $23.36B | $19.34B | $16.67B | $14.66B | $18.49B | $18.83B |
| Financial Products | $4.22B | $4.05B | $3.79B | $3.25B | $3.07B | $3.04B | $3.43B | $3.28B |
| All Other Segments | $46.0M | $118.0M | $131.0M | $145.0M | $145.0M | $113.0M | $127.0M | $154.0M |
| Corporate Items and Eliminations | $-805.0M | $-812.0M | $-749.0M | $-448.0M | $-413.0M | $-395.0M | $-615.0M | $-547.0M |
| Cost of Revenue | $44.75B | $40.20B | $42.77B | $41.35B | $35.51B | $29.08B | $36.63B | $37.00B |
| Gross Profit | $22.84B | $24.61B | $24.29B | $18.08B | $15.46B | $12.67B | $17.17B | $17.73B |
| Gross Margin | 33.8% | 38.0% | 36.2% | 30.4% | 30.3% | 30.3% | 31.9% | 32.4% |
| Operating Expenses | ||||||||
| Research & Development | $2.15B | $2.11B | $2.11B | $1.81B | $1.69B | $1.42B | $1.69B | $1.85B |
| SG&A Expense | $6.99B | $6.67B | $6.37B | $5.65B | $5.37B | $4.64B | $5.16B | $5.48B |
| Operating Income | $11.15B | $13.07B | $12.97B | $7.90B | $6.88B | $4.55B | $8.29B | $8.29B |
| Operating Margin | 16.5% | 20.2% | 19.3% | 13.3% | 13.5% | 10.9% | 15.4% | 15.2% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $11.54B | $13.37B | $13.05B | $8.75B | $8.20B | $4.00B | $7.81B | $7.82B |
| Income Tax Expense | $2.77B | $2.63B | $2.78B | $2.07B | $1.74B | $1.01B | $1.75B | $1.70B |
| Net Income | $8.88B | $10.79B | $10.33B | $6.70B | $6.49B | $3.00B | $6.09B | $6.15B |
| Net Margin | 13.1% | 16.6% | 15.4% | 11.3% | 12.7% | 7.2% | 11.3% | 11.2% |
| EPS (Basic) | $18.90 | $22.17 | $20.24 | $12.72 | $11.93 | $5.51 | $10.85 | $10.39 |
| EPS (Diluted) | $18.81 | $22.05 | $20.12 | $12.64 | $11.83 | $5.46 | $10.74 | $10.26 |
| Shares Outstanding (Basic) | 470.0M | 486.7M | 510.6M | 526.9M | 544.0M | 544.1M | 561.6M | 591.4M |
| Shares Outstanding (Diluted) | 472.3M | 489.4M | 513.6M | 530.4M | 548.5M | 548.6M | 567.5M | 599.4M |
| Dividends Per Share | $5.94 | $5.53 | $5.10 | $4.71 | $4.36 | $4.12 | $3.95 | $3.36 |