CAT FY 2025 Earnings Report — Caterpillar Inc. Revenue & Financial Results | Market Cap Arena

Caterpillar Inc.CAT

FY 2025 Earnings

Reported February 13, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$67.6B	—	$64.8B	—	4.3%
Op. Income	$11.2B	—	$13.1B	—	-14.2%
Gross Margin	32.3%	—	36.0%	—	-3.6pp
Net Margin	13.1%	—	16.7%	—	-3.5pp
EPS (Diluted)	$18.83	—	$22.05	—	-14.6%
Free Cash Flow	$10.3B	—	$8.8B	—	16.5%

Revenue Flow

Item	Amount
REVENUE	$67.6B
Cost of Revenue	$45.7B
GROSS PROFIT	$21.9B
R&D Expenses	$2.1B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$7.0B
Other Expenses	$1.5B
Operating Expenses	$10.6B
Cost & Expenses	$56.4B
OPERATING INCOME	$11.2B
Interest Income	$487M
Interest Expense	$1.0B
Other Income/Expenses	$353M
INCOME BEFORE TAX	$11.6B
Income Tax Expense	$2.8B
Net Income from Continuing Ops	$8.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8.9B
Net Income Deductions	-$1M
BOTTOM LINE NET INCOME	$8.9B
D&A	$2.3B
EBIT	$12.6B
EBITDA	$14.9B
EPS	$19
EPS Diluted	$19

Income Statement

Item	Amount
REVENUE	$67.6B
Cost of Revenue	$45.7B
GROSS PROFIT	$21.9B
R&D Expenses	$2.1B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$7.0B
Other Expenses	$1.5B
Operating Expenses	$10.6B
Cost & Expenses	$56.4B
OPERATING INCOME	$11.2B
Interest Income	$487M
Interest Expense	$1.0B
Other Income/Expenses	$353M
INCOME BEFORE TAX	$11.6B
Income Tax Expense	$2.8B
Net Income from Continuing Ops	$8.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8.9B
Net Income Deductions	-$1M
BOTTOM LINE NET INCOME	$8.9B
D&A	$2.3B
EBIT	$12.6B
EBITDA	$14.9B
EPS	$19
EPS Diluted	$19

Cash Flow Statement

Item	Amount
Net Income	$8.9B
Depreciation & Amortization	$2.3B
Stock-Based Compensation	$242M
Deferred Income Tax	$465M
Other Non-Cash Items	$236M
Change in Working Capital	-$348M
OPERATING CASH FLOW	$11.7B
Capital Expenditure	-$1.5B
Acquisitions (Net)	-$47M
Purchases of Investments	-$1.9B
Sales/Maturities of Investments	$2.5B
Other Investing Activities	-$3.8B
NET CASH FROM INVESTING	-$4.7B
Net Debt Issuance	$4.1B
Common Stock Repurchased	-$5.2B
Common Dividends Paid	-$2.7B
Other Financing Activities	-$90M
NET CASH FROM FINANCING	-$3.9B
FREE CASH FLOW	$10.3B
Net Change in Cash	$3.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$10.0B
Short-Term Investments	$0
Net Receivables	$21.6B
Inventory	$18.1B
Other Current Assets	$2.8B
TOTAL CURRENT ASSETS	$52.5B
PP&E (Net)	$15.1B
Goodwill	$5.3B
Intangible Assets	$241M
Long-Term Investments	$16.4B
Tax Assets	$2.9B
Other Non-Current Assets	$6.1B
TOTAL NON-CURRENT ASSETS	$46.1B
TOTAL ASSETS	$98.6B
Account Payables	$9.0B
Short-Term Debt	$12.6B
Deferred Revenue	$3.3B
Other Current Liabilities	$9.1B
TOTAL CURRENT LIABILITIES	$36.6B
Long-Term Debt	$30.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$10.0B
TOTAL NON-CURRENT LIABILITIES	$40.7B
TOTAL LIABILITIES	$77.3B
Common Stock	$7.2B
Additional Paid-In Capital	$0
Retained Earnings	$65.4B
Treasury Stock	-$49.5B
Accum. Other Comp. Income	-$1.8B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$21.3B
Minority Interest	$0
TOTAL EQUITY	$21.3B
TOTAL LIABILITIES & EQUITY	$98.6B
Total Debt	$43.3B
Net Debt	$33.4B