CAT Stock - Caterpillar Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $64.81B | $67.06B | $59.43B | $50.97B | $41.75B |
| Gross Profit | $23.32B | $23.26B | $17.51B | $15.00B | $12.08B |
| Gross Margin | 36.0% | 34.7% | 29.5% | 29.4% | 28.9% |
| Operating Income | $13.07B | $12.97B | $7.90B | $6.88B | $4.55B |
| Net Income | $10.79B | $10.34B | $6.71B | $6.49B | $3.00B |
| Net Margin | 16.7% | 15.4% | 11.3% | 12.7% | 7.2% |
| EPS | $22.17 | $20.24 | $12.73 | $11.93 | $5.51 |
Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators. The Resource Industries segment provides electric rope shovels, draglines, hydraulic shovels, rotary drills, hard rock vehicles, track-type tractors, mining trucks, longwall miners, wheel loaders, off-highway trucks, articulated trucks, wheel tractor scrapers, wheel dozers, fleet management, landfill compactors, soil compactors, machinery components, autonomous ready vehicles and solutions, select work tools, and safety services and mining performance solutions. The Energy & Transportation segment offers reciprocating engines, generator sets, integrated systems and solutions, turbines and turbine-related services, remanufactured reciprocating engines and components, centrifugal gas compressors, diesel-electric locomotives and components, and other rail-related products and services for marine, oil and gas, industrial, and electric power generation sectors. The company's Financial Products segment provides operating and finance leases, installment sale contracts, working capital loans, and wholesale financing plans; and insurance and risk management products for vehicles, power generation facilities, and marine vessels. The All Other operating segment manufactures filters and fluids, undercarriage, ground engaging tools, etc. The company was formerly known as Caterpillar Tractor Co. and changed its name to Caterpillar Inc. in 1986. The company was founded in 1925 and is headquartered in Deerfield, Illinois.
Visit WebsiteRating Distribution
Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| November 14th 2025 | Wells Fargo | Initiation | Overweight | - |
| November 6th 2025 | HSBC Securities | Upgrade | Buy | $660 |
| October 22nd 2025 | RBC Capital Mkts | Initiation | Sector Perform | $560 |
| October 3rd 2025 | Erste Group | Upgrade | Buy | - |
| August 19th 2025 | Evercore ISI | Upgrade | Outperform | $476 |
| August 7th 2025 | Morgan Stanley | Downgrade | Underweight | $350 |
| July 9th 2025 | Melius | Upgrade | Buy | $500 |
| May 30th 2025 | BofA Securities | Reiterated | Buy | $385← $335 |
| May 16th 2025 | UBS | Upgrade | Neutral | $357 |
| May 13th 2025 | Robert W. Baird | Upgrade | Outperform | $395 |
| May 1st 2025 | Robert W. Baird | Upgrade | Neutral | $309 |
| May 1st 2025 | Oppenheimer | Upgrade | Outperform | $395 |
| April 16th 2025 | Morgan Stanley | Upgrade | Equal Weight | $283 |
| April 7th 2025 | UBS | Downgrade | Sell | $243 |
| February 3rd 2025 | UBS | Upgrade | Neutral | $385← $355 |
Earnings History & Surprises
CATEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 28, 2026 | — | — | — | — |
Q1 2026 | Jan 29, 2026 | $4.54 | — | — | — |
Q4 2025 | Oct 29, 2025 | $4.53 | $4.95 | +9.3% | ✓ BEAT |
Q3 2025 | Aug 5, 2025 | $4.89 | $4.72 | -3.5% | ✗ MISS |
Q2 2025 | Apr 30, 2025 | $4.35 | $4.25 | -2.3% | ✗ MISS |
Q1 2025 | Jan 30, 2025 | $5.06 | $5.14 | +1.6% | ✓ BEAT |
Q4 2024 | Oct 30, 2024 | $5.34 | $5.17 | -3.2% | ✗ MISS |
Q3 2024 | Aug 6, 2024 | $5.54 | $5.99 | +8.1% | ✓ BEAT |
Q2 2024 | Apr 25, 2024 | $5.14 | $5.60 | +8.9% | ✓ BEAT |
Q1 2024 | Feb 5, 2024 | $4.75 | $5.23 | +10.1% | ✓ BEAT |
Q4 2023 | Oct 31, 2023 | $4.79 | $5.52 | +15.2% | ✓ BEAT |
Q3 2023 | Aug 1, 2023 | $4.58 | $5.55 | +21.2% | ✓ BEAT |
Q2 2023 | Apr 27, 2023 | $3.79 | $4.91 | +29.6% | ✓ BEAT |
Q1 2023 | Jan 31, 2023 | $3.95 | $3.86 | -2.3% | ✗ MISS |
Q4 2022 | Oct 27, 2022 | $3.16 | $3.95 | +25.0% | ✓ BEAT |
Q3 2022 | Aug 2, 2022 | $3.01 | $3.18 | +5.6% | ✓ BEAT |
Q2 2022 | Apr 28, 2022 | $2.60 | $2.88 | +10.8% | ✓ BEAT |
Q1 2022 | Jan 28, 2022 | $2.23 | $2.69 | +20.6% | ✓ BEAT |
Q4 2021 | Oct 28, 2021 | $2.20 | $2.66 | +20.9% | ✓ BEAT |
Q3 2021 | Jul 30, 2021 | $2.40 | $2.60 | +8.3% | ✓ BEAT |
Latest News
Bernstein Maintains Market Perform on Caterpillar, Raises Price Target to $630
📈 PositiveCitigroup Maintains Buy on Caterpillar, Raises Price Target to $690
📈 PositiveMorgan Stanley Maintains Underweight on Caterpillar, Raises Price Target to $395
➖ NeutralWatching Caterpillar; Shares See Volume To The Upsde, President Trump Names Company In Meeting With Saudi Crown Prince Mohammed Bin Salman, Says You Don't See How Much We Do, But The Construction Industry Sees It, If You Look At Caterpillar, Who Has Been Incredible; The Numbers We Have Been Doing Have Been Unbelievable
📈 PositiveVertiv And Caterpillar Sign Strategic Undertaking To Collaborate On Advanced Energy Optimization Solutions For Data Centers
📈 PositiveWells Fargo Initiates Coverage On Caterpillar with Overweight Rating, Announces Price Target of $675
📈 PositiveHSBC Upgrades Caterpillar to Buy, Raises Price Target to $660
📈 PositiveUBS Maintains Neutral on Caterpillar, Raises Price Target to $581
➖ NeutralCaterpillar CEO Says Now Targeting 5%-7% Sales, Revenue CAGR Vs 4% Earlier, From 2024-2030
📈 PositiveCaterpillar To Discuss Strategic Plan For Profitable Growth At Investor Day Tuesday; Committed To Continued Profitable Growth
📈 PositiveDA Davidson Maintains Neutral on Caterpillar, Raises Price Target to $569
➖ NeutralCitigroup Maintains Buy on Caterpillar, Raises Price Target to $670
📈 PositiveJP Morgan Maintains Overweight on Caterpillar, Raises Price Target to $730
📈 PositiveMorgan Stanley Maintains Underweight on Caterpillar, Raises Price Target to $380
➖ NeutralBernstein Maintains Market Perform on Caterpillar, Raises Price Target to $557
📈 PositiveBarclays Maintains Equal-Weight on Caterpillar, Raises Price Target to $555
📈 PositiveTruist Securities Reiterates Buy on Caterpillar, Raises Price Target to $729
📈 PositiveB of A Securities Maintains Buy on Caterpillar, Raises Price Target to $650
📈 PositiveCaterpillar shares having best day in more than a decade and a half
📈 PositiveCaterpillar shares are trading higher after the company reported better-than-expected Q3 financial results.
📈 PositiveFrequently Asked Questions about CAT
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