Caterpillar
What matters nowUpdated 7 h ago
- Caterpillar agreed on Sep 29, 2026 to buy Fabick Cat, a 37-location dealer serving parts of Missouri and Illinois, all of Wisconsin and Michigan's Upper Peninsula; the deal needs regulatory approval, is expected to close within 30 days, and the price was not disclosed 1. On Sep 30 it said it will invest about $1 billion in a compact equipment plant in Sanford, North Carolina, with no job count or completion date given yet 2. CFO Andrew Bonfield retired on Oct 1, 2026, and Kyle Epley, who has run finance since May 1, is the chief financial officer 3.
- CAT's pooled 24/7 venue price was 761.85 at 15:58 UTC on Oct 13, 2026, down 4.79% from the previous close of 800.19. Other recent recorded moves include -5.30% on Oct 7 and +4.50% on Aug 4, the day Caterpillar reported second-quarter results 4.
- Q2 2026 sales rose 24% to $20.5 billion, led by data-center power generation and construction equipment; adjusted profit per share was $8.17 against $4.72 a year earlier, GAAP profit per share was $7.77, and $392 million of expected IEEPA tariff recoveries helped operating profit 4. Q2 segment sales were Construction Industries $8.3 billion (+35%), Power & Energy $8.2 billion (+17%) and Resource Industries $4.6 billion (+20%).
- At the pooled 24/7 venue price, CAT trades at 32.8 times trailing earnings per share of $23.24, 22.6 times EV/EBITDA and a $350.2 billion market value, with an operating margin of 17.5% and trailing free cash flow of $10.7 billion as of Jun 30, 2026. Over the last 180 days, insiders made 10 sales worth about $113.9 million and one purchase of 250 shares worth about $0.2 million.
- Caterpillar's Q3 2026 earnings are estimated for Oct 29, 2026 and are not yet confirmed. The US September CPI is due Oct 14 at 12:30 UTC, and Polymarket gives 81.5% odds of no change in Fed rates after the October 2026 meeting and 17.5% odds of a 25 basis point increase.
Caterpillar Inc. investor relations · Sep 29
Caterpillar Inc. investor relations · Sep 30
Caterpillar Inc. investor relations · Oct 1
Caterpillar Form 8-K, Exhibit 99.1 (SEC) · Aug 4
Caterpillar builds construction, mining and power equipment and sells it through a dealer network. Its three machinery groups are Construction Industries, Resource Industries and Power & Energy, and its Financial Products arm (Cat Financial) finances and insures customers' purchases. In 2025 power generation tied to data-center demand became the main growth driver.
How it makes money
Caterpillar sells machines, engines and turbines to independent dealers, who sell them to end users, so most revenue is recognised when dealers ship to customers. Parts and services earn recurring revenue on the installed base. Cat Financial earns interest and fees on customer loans and leases, and the company returns cash through buybacks and dividends.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Power & Energy
Q2 2026 segment sales rose 17% to $8.2 billion, and power generation is the part of the business tied to data-center demand.
Construction Industries
Q2 2026 segment sales rose 35% to $8.3 billion, the fastest-growing segment in the quarter.
Resource Industries
Q2 2026 segment sales rose 20% to $4.6 billion as mining demand recovered.
Financial Products (Cat Financial)
Q2 2026 revenues rose 7% to $962 million; full-year 2025 revenues were $3.6 billion.
Latest newsAll news →
CFO Andrew Bonfield retires October 1; Kyle Epley has run finance since May
Andrew Bonfield's retirement from Caterpillar takes effect on October 1, 2026, after eight years with the company.
Caterpillar to invest about $1 billion in North Carolina compact equipment plant
Caterpillar plans to invest about $1 billion to build a new manufacturing facility in Sanford, North Carolina.
Caterpillar agrees to buy Fabick Cat, a 37-location dealer in the Midwest
Caterpillar agreed to acquire John Fabick Tractor Company, the Fabick Cat dealership that serves parts of Missouri and Illinois, all of Wisconsin and Michigan's Upper Peninsula.
Caterpillar and FieldAI partner on physical AI and robotics for jobsites
Caterpillar and FieldAI are working together on AI-driven autonomy and robotics for jobsites and factories.
Caterpillar and Cat Financial renew $11.5 billion of revolving credit lines
Caterpillar and its finance affiliates signed a new 364-day revolving facility of up to $3.5 billion and amended and extended their three-year and five-year facilities of up to $3.0 billion and $5.0 billion.
Caterpillar brings workforce initiative to Arkansas with up to $3 million
Caterpillar extended its Building the Future Workforce Initiative to Arkansas with up to $3 million for technician and manufacturing training.
Products & businesses
Power & Energy
Q2 2026 segment sales rose 17% to $8.2 billion, and power generation is the part of the business tied to data-center demand.
Construction Industries
Q2 2026 segment sales rose 35% to $8.3 billion, the fastest-growing segment in the quarter.
Resource Industries
Q2 2026 segment sales rose 20% to $4.6 billion as mining demand recovered.
Financial Products (Cat Financial)
Q2 2026 revenues rose 7% to $962 million; full-year 2025 revenues were $3.6 billion.
What it's building next
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Machinery, Power & Energy Construction Industries, Resource Industries and Power & Energy combined: earthmoving and construction machines, mining trucks and equipment, and engines, gas turbines and generator sets. | $63.98B | 94.7% | |
| Financial Products (Cat Financial) Customer and dealer financing, leasing and insurance services provided by Cat Financial and its insurance subsidiary. | $3.61B | 5.3% |
Fiscal 2025 · from the annual report
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $74.73B | $20.54B +24% | $17.41B +22% | $19.13Bd +18% | $17.64B +10% | $16.57B -1% | $14.25B -10% | $16.21Bd -5% | $16.11B -4% |
| Gross profit | $25.66B | $7.76Bd +35% | $6.11Bd +16% | $5.83Bd -1% | $5.96Bd -1% | $5.76Bd -12% | $5.28Bd -14% | $5.89Bd -3% | $6.04Bd -3% |
| Operating income | $13.09B | $4.29B +50% | $3.08B +20% | $2.66Bd -9% | $3.05B -3% | $2.86B -18% | $2.58B -27% | $2.92Bd -7% | $3.15B -9% |
| EPS (diluted) | $23.24 | $7.77 +68% | $5.47 +30% | $5.12d -11% | $4.88 -4% | $4.62 -16% | $4.20 -27% | $5.78d +10% | $5.06 -7% |
| Operating cash flow | $13.57B | $4.37Bd +40% | $1.87B +45% | $3.59Bd +6% | $3.74Bd +5% | $3.12Bd +3% | $1.29B -37% | $3.39Bd -15% | $3.57Bd -12% |
| Capital expenditure | $2.87B | $587.0Md +6% | $728.0M +3% | $898.0Md +28% | $658.0Md +48% | $555.0Md +63% | $710.0M +42% | $703.0Md +31% | $444.0Md +17% |
| Share buybacks | $7.22B | $1.49Bd +80% | $5.03B +37% | $340.0Md -47% | $362.0Md -54% | $828.0Md -55% | $3.66B -18% | $640.0Md -77% | $782.0Md +106% |
| Cash & equivalents | $6.71B | $6.71B | $4.07B | $9.98B | $7.54B | $5.44B | $3.56B | $6.89B | $5.64B |
| Total debt | — | — | — | $36.21Bd | — | — | — | $31.74Bd | — |
| Shares outstanding | 459.7M | 459.7M | 460.6M | 465.3M | 468.0M | 468.5M | 471.0M | 477.9M | 482.8M |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | $67.59B +4% | $64.81B -3% | $67.06B +13% | $59.43B |
| Cost of revenue | $44.75B +11% | $40.20B -6% | $42.77B +3% | $41.35B |
| Gross profit | $22.84Bd -7% | $24.61Bd +1% | $24.29Bd +34% | $18.08Bd |
| Research & development | $2.15B +2% | $2.11B -0% | $2.11B +16% | $1.81B |
| Operating income | $11.15B -15% | $13.07B +1% | $12.97B +64% | $7.90B |
| EBIT | $11.15B -15% | $13.07B +1% | $12.97B +64% | $7.90B |
| Depreciation & amortization | $2.26B +5% | $2.15B +0% | $2.14B -3% | $2.22B |
| Income tax | $2.77B +5% | $2.63B -5% | $2.78B +35% | $2.07B |
| EPS (diluted) | $18.81 -15% | $22.05 +10% | $20.12 +59% | $12.64 |
| Dividends per share | $5.94 +7% | $5.53 +8% | $5.10 +8% | $4.71 |
| Diluted shares (weighted) | 472.3M | 489.4M | 513.6M | 530.4M |
| Operating cash flow | $11.74B -2% | $12.04B -7% | $12.88B +66% | $7.77B |
| Capital expenditure | $2.82B +42% | $1.99B +24% | $1.60B +23% | $1.30B |
| Share buybacks | $5.19B -33% | $7.70B +55% | $4.97B +18% | $4.23B |
| Dividends paid | $2.75B +4% | $2.65B +3% | $2.56B +5% | $2.44B |
| Cash & equivalents | $9.98B | $6.89B | $6.98B | $7.00B |
| Long-term debt (incl. current portion) | $30.70B | $27.35B | $24.47B | $25.71B |
| Total debt | $36.21Bd | $31.74Bd | $29.11Bd | $31.67Bd |
| Total assets | $98.58B | $87.76B | $87.48B | $81.94B |
| Total liabilities | $77.27B | $68.27B | $67.97B | $66.05B |
| Shareholders' equity | $21.32B | $19.49B | $19.50B | $15.89B |
| Shares outstanding | 465.3M | 477.9M | 499.4M | 516.3M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
CFO Andrew Bonfield retires October 1; Kyle Epley has run finance since May
Andrew Bonfield's retirement from Caterpillar takes effect on October 1, 2026, after eight years with the company.
Caterpillar to invest about $1 billion in North Carolina compact equipment plant
Caterpillar plans to invest about $1 billion to build a new manufacturing facility in Sanford, North Carolina.
Caterpillar agrees to buy Fabick Cat, a 37-location dealer in the Midwest
Caterpillar agreed to acquire John Fabick Tractor Company, the Fabick Cat dealership that serves parts of Missouri and Illinois, all of Wisconsin and Michigan's Upper Peninsula.
Caterpillar and FieldAI partner on physical AI and robotics for jobsites
Caterpillar and FieldAI are working together on AI-driven autonomy and robotics for jobsites and factories.
Caterpillar and Cat Financial renew $11.5 billion of revolving credit lines
Caterpillar and its finance affiliates signed a new 364-day revolving facility of up to $3.5 billion and amended and extended their three-year and five-year facilities of up to $3.0 billion and $5.0 billion.
Caterpillar brings workforce initiative to Arkansas with up to $3 million
Caterpillar extended its Building the Future Workforce Initiative to Arkansas with up to $3 million for technician and manufacturing training.
Caterpillar Q2 2026: sales up 24% to $20.5 billion, adjusted EPS $8.17
Caterpillar reported second-quarter 2026 sales and revenues of $20.5 billion, up 24% from a year earlier, with power generation for data centers and construction equipment leading the growth.
Caterpillar commits up to $10 million to Illinois manufacturing training
Caterpillar allocated up to $10 million in Illinois under its Building the Future Workforce Initiative, the latest state allocation at the time.
Caterpillar sets Q2 2026 results release for August 4 at 5:30 a.m. CDT
Caterpillar announced that it will publish second-quarter 2026 financial results at 5:30 a.m.
Caterpillar completes Skycatch acquisition to extend mine-site data tools
Caterpillar has acquired Skycatch, a provider of spatial data capture and AI analysis for mining.
Caterpillar commits up to $5 million to Texas manufacturing workforce training
Caterpillar announced an initial allocation of up to $5 million for Texas under its five-year, $100 million Building the Future Workforce Initiative.
Caterpillar raises quarterly dividend 8% to $1.63 per share
Caterpillar's board raised the quarterly dividend by 12 cents, or 8%, to $1.63 per share from $1.51.
Caterpillar Q1 2026: sales up 22% to $17.4 billion, EPS $5.47
Caterpillar reported first-quarter 2026 sales and revenues of $17.415 billion, up 22% from $14.249 billion, with profit per share of $5.47 against $4.20.
Caterpillar Q4 2025: sales up 18% to $19.1 billion, record backlog
Caterpillar reported fourth-quarter 2025 sales and revenues of $19.1 billion, up 18% from $16.2 billion a year earlier.
Caterpillar previews autonomous construction machines at CES 2026
At CES 2026 in Las Vegas, CEO Joe Creed keynoted and Caterpillar previewed five autonomous machines for complex construction sites.
Caterpillar names CEO Joe Creed chairman as Umpleby retires
Caterpillar said D.
Caterpillar reports fiscal Q3 2025 results: revenue $17.64B, up 10% from a year earlier
Caterpillar filed a Form 8-K with the SEC on Oct 29, 2025, 6:32 AM ET, reporting an event dated Oct 29, 2025.
SEC filings
| Oct 1, 26 | 4 | Form 4: GOOD LYNN J (Director) — derivative/holdings only | sec.gov ↗ |
| Oct 1, 26 | 4 | Form 4: MacLennan David (Director) — derivative/holdings only | sec.gov ↗ |
| Sep 28, 26 | 4 | Form 4: Kaiser Jason (Group President) — derivative/holdings only | sec.gov ↗ |
| Sep 28, 26 | 4 | Form 4: Epley Kyle Joseph (Chief Financial Officer) — derivative/holdings only | sec.gov ↗ |
| Sep 28, 26 | 4 | Form 4: Creed Joseph E (Chief Executive Officer) — derivative/holdings only | sec.gov ↗ |
| Sep 1, 26 | 4 | Form 4: Creed Joseph E (Chief Executive Officer) — option exercise 44,403 sh, tax withholding 12,002 sh, open-market sale 32,401 sh | sec.gov ↗ |
| Sep 1, 26 | 8-K | 8-K: Material Agreement, New Financial Obligation (Items 1.01, 2.03) | sec.gov ↗ |
| Aug 28, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 27, 26 | 4 | Form 4: Epley Kyle Joseph (Chief Financial Officer) — derivative/holdings only | sec.gov ↗ |
| Aug 27, 26 | 4 | Form 4: Kaiser Jason (Group President) — derivative/holdings only | sec.gov ↗ |
| Aug 27, 26 | 4 | Form 4: Creed Joseph E (Chief Executive Officer) — derivative/holdings only | sec.gov ↗ |
| Aug 5, 26 | 3 | Form 3: Initial insider ownership statement | sec.gov ↗ |
| Aug 5, 26 | 10-Q | 10-Q: Quarterly report for the period ended Jun 30, 2026 | sec.gov ↗ |
| Aug 4, 26 | 8-K | 8-K: Results of Operations, Regulation FD Disclosure (Items 2.02, 7.01) | sec.gov ↗ |
| Jul 27, 26 | 4 | Form 4: Epley Kyle Joseph (Chief Financial Officer) — derivative/holdings only | sec.gov ↗ |
| Jul 27, 26 | 4 | Form 4: Kaiser Jason (Group President) — derivative/holdings only | sec.gov ↗ |
| Jul 27, 26 | 4 | Form 4: Creed Joseph E (Chief Executive Officer) — derivative/holdings only | sec.gov ↗ |
| Jul 1, 26 | 4 | Form 4: MacLennan David (Director) — derivative/holdings only | sec.gov ↗ |
| Jun 29, 26 | 4 | Form 4: Kaiser Jason (Group President) — derivative/holdings only | sec.gov ↗ |
| Jun 29, 26 | 4 | Form 4: Creed Joseph E (Chief Executive Officer) — derivative/holdings only | sec.gov ↗ |
| Jun 29, 26 | 4 | Form 4: Epley Kyle Joseph (Chief Financial Officer) — derivative/holdings only | sec.gov ↗ |
| Jun 25, 26 | 11-K | 11-K: Employee stock plan annual report | sec.gov ↗ |
| Jun 25, 26 | 11-K | 11-K: Employee stock plan annual report | sec.gov ↗ |
| Jun 25, 26 | 11-K | 11-K: Employee stock plan annual report | sec.gov ↗ |
| Jun 25, 26 | 11-K | 11-K: Employee stock plan annual report | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-08-28 | Creed Joseph E Chief Executive Officer | Sale | 32.4K | $808.98 | $26.2M |
| 2026-05-14 | Johnson Denise C Group President | Sale | 12.6K | $907.91 | $11.4M |
| 2026-05-13 | Schaupp William E Chief Accounting Officer | Sale | 360 | $906.00 | $326.2K |
| 2026-05-13 | Johnson Denise C Group President | Sale | 6.2K | $909.79 | $5.6M |
| 2026-05-11 | Fassino Anthony D. Group President | Sale | 16.3K | $916.80 | $14.9M |
| 2026-05-06 | BONFIELD ANDREW R J CFO Emeritus | Sale | 15.7K | $918.71 | $14.4M |
| 2026-05-06 | Fassino Anthony D. Group President | Sale | 9.2K | $926.25 | $8.5M |
| 2026-05-06 | De Lange Bob Group President | Sale | 24.2K | $922.92 | $22.4M |
| 2026-05-05 | Shurman Rodney Michael Group President | Sale | 5.6K | $903.18 | $5.1M |
| 2026-05-04 | MacLennan David Director | Buy | 250 | $876.84 | $219.2K |
| 2026-05-04 | Kaiser Jason Group President | Sale | 5.6K | $883.03 | $5.0M |
| 2026-03-05 | Creed Joseph E Chief Executive Officer | Sale 10b5-1 plan | 2.5K | $718.93 | $1.8M |
| 2026-02-23 | Shurman Rodney Michael Group President | Sale | 2.3K | $759.61 | $1.7M |
| 2026-02-17 | Schaupp William E Chief Accounting Officer | Sale | 972 | $764.20 | $742.8K |
| 2026-02-17 | Shurman Rodney Michael Group President | Sale | 1.8K | $763.39 | $1.3M |
| 2026-02-13 | Fassino Anthony D. Group President | Sale | 7.9K | $776.90 | $6.1M |
| 2026-02-12 | Kaiser Jason Group President | Sale 10b5-1 plan | 1.7K | $776.70 | $1.3M |
| 2026-02-11 | De Lange Bob Group President | Sale | 12.5K | $767.08 | $9.6M |
| 2026-02-06 | Fassino Anthony D. Group President | Sale | 6.0K | $722.15 | $4.4M |
| 2026-02-06 | De Lange Bob Group President | Sale | 22.7K | $720.11 | $16.3M |
| 2026-02-04 | De Lange Bob Group President | Sale | 16.1K | $704.97 | $11.3M |
| 2026-02-02 | De Lange Bob Group President | Sale | 16.0K | $682.99 | $10.9M |
| 2026-02-02 | Fassino Anthony D. Group President | Sale | 10.7K | $680.45 | $7.3M |
| 2026-02-02 | Johnson Denise C Group President | Sale | 39.1K | $681.08 | $26.7M |
| 2025-12-31 | BONFIELD ANDREW R J Chief Financial Officer | Sale 10b5-1 plan | 10.0K | $575.06 | $5.8M |