Caterpillar Inc. (CAT) Q2 FY2026 Financial Statements: Sales and revenues $20.54B, Profit $3.59B
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PeriodQ2 FY2026
Published
Caterpillar reported $20.54 billion of total sales and revenues for Q2 FY2026, the quarter ended June 30, 2026, up 24.0% from a year earlier, on higher equipment volume and favorable price realization across all three primary segments. Profit was $3.59 billion, up 64.9%, and diluted earnings per share came to $7.77 against $4.62 a year earlier, growth that ran ahead of sales partly because operating profit of $4.29 billion carried expected recoveries of tariffs Caterpillar had paid under the International Emergency Economic Powers Act, which the U.S. Supreme Court ruled unauthorized in February 2026, and partly because other income rose on foreign currency and investment gains. Construction Industries drove most of the increase in total sales and revenues, with segment sales of $8.35 billion, up 34.8%, while the order backlog grew again across all three primary segments.
| Metric | Amount | vs. year ago |
|---|---|---|
| Sales and revenues | $20,543,000,000 | up 24.0% |
| Profit | $3,593,000,000 | up 64.9% |
| Diluted EPS | $7.77 | up 68.2% |
| Operating profit | $4,295,000,000 | up 50.2% |
| Construction Industries sales | $8,346,000,000 | up 34.8% |
About this file
| Ticker | CAT |
|---|---|
| CIK | 0000018230 |
| Company | Caterpillar Inc. |
| Business type | industrial |
| Schema template | industrial manufacturer with a captive finance arm (Machinery, Power & Energy plus Financial Products) |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions); share counts are actual shares; per-share amounts are actual dollars per share; figures named '_percent' are percentages |
CAT annual income statement, balance sheet and cash flow
| FY2023 | FY2024 | FY2025 | |
|---|---|---|---|
| Fiscal year | 2023 | 2024 | 2025 |
| Label | FY2023 | FY2024 | FY2025 |
| Period start | 2023-01-01 | 2024-01-01 | 2025-01-01 |
| Period end | 2023-12-31 | 2024-12-31 | 2025-12-31 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 0000018230-26-000008 | 0000018230-26-000008 | 0000018230-26-000008 |
| Income statement | |||
| Sales of machinery power and energy | 63,869,000,000 | 61,363,000,000 | 63,980,000,000 |
| Revenues of financial products | 3,191,000,000 | 3,446,000,000 | 3,609,000,000 |
| Total sales and revenues | 67,060,000,000 | 64,809,000,000 | 67,589,000,000 |
| Cost of goods sold | 42,767,000,000 | 40,199,000,000 | 44,752,000,000 |
| Selling general and administrative expenses | 6,371,000,000 | 6,667,000,000 | 6,985,000,000 |
| Research and development expenses | 2,108,000,000 | 2,107,000,000 | 2,148,000,000 |
| Interest expense of financial products | 1,030,000,000 | 1,286,000,000 | 1,359,000,000 |
| Other operating income expenses | 1,818,000,000 | 1,478,000,000 | 1,194,000,000 |
| Total operating costs | 54,094,000,000 | 51,737,000,000 | 56,438,000,000 |
| Operating profit | 12,966,000,000 | 13,072,000,000 | 11,151,000,000 |
| Interest expense excluding financial products | 511,000,000 | 512,000,000 | 502,000,000 |
| Other income expense | 595,000,000 | 813,000,000 | 892,000,000 |
| Profit before taxes | 13,050,000,000 | 13,373,000,000 | 11,541,000,000 |
| Provision for income taxes | 2,781,000,000 | 2,629,000,000 | 2,768,000,000 |
| Profit of consolidated companies | 10,269,000,000 | 10,744,000,000 | 8,773,000,000 |
| Equity in profit loss of unconsolidated affiliated companies | 63,000,000 | 44,000,000 | 109,000,000 |
| Profit of consolidated and affiliated companies | 10,332,000,000 | 10,788,000,000 | 8,882,000,000 |
| Profit loss attributable to noncontrolling interests | -3,000,000 | -4,000,000 | -2,000,000 |
| Net income | 10,335,000,000 | 10,792,000,000 | 8,884,000,000 |
| Basic EPS | 20.24 | 22.17 | 18.9 |
| Diluted EPS | 20.12 | 22.05 | 18.81 |
| Basic shares | 510,600,000 | 486,700,000 | 470,000,000 |
| Diluted shares | 513,600,000 | 489,400,000 | 472,300,000 |
| Balance sheet | |||
| Total equity | 19,503,000,000 | 19,494,000,000 | 21,318,000,000 |
| Cash and equivalents | 6,889,000,000 | 9,980,000,000 | |
| Receivables trade and other current | 9,282,000,000 | 10,920,000,000 | |
| Finance receivables current | 9,565,000,000 | 10,649,000,000 | |
| Inventories | 16,827,000,000 | 18,135,000,000 | |
| Total current assets | 45,682,000,000 | 52,485,000,000 | |
| Property plant and equipment net | 13,361,000,000 | 15,140,000,000 | |
| Finance receivables long term | 13,242,000,000 | 14,272,000,000 | |
| Goodwill | 5,241,000,000 | 5,321,000,000 | |
| Total assets | 87,764,000,000 | 98,585,000,000 | |
| Short term borrowings financial products | 4,393,000,000 | 5,514,000,000 | |
| Long term debt due within one year machinery power and energy | 46,000,000 | 35,000,000 | |
| Long term debt due within one year financial products | 6,619,000,000 | 7,085,000,000 | |
| Total current liabilities | 32,272,000,000 | 36,558,000,000 | |
| Long term debt due after one year machinery power and energy | 8,564,000,000 | 10,678,000,000 | |
| Long term debt due after one year financial products | 18,787,000,000 | 20,018,000,000 | |
| Total liabilities | 68,270,000,000 | 77,267,000,000 | |
| Total debt | 38,409,000,000 | 43,330,000,000 | |
| Total finance receivables | 22,807,000,000 | 24,921,000,000 | |
| Cash flow | |||
| Depreciation and amortization | 2,144,000,000 | 2,153,000,000 | 2,262,000,000 |
| Operating cash flow | 12,885,000,000 | 12,035,000,000 | 11,739,000,000 |
| Capital expenditures excluding equipment leased to others | 1,597,000,000 | 1,988,000,000 | 2,821,000,000 |
| Expenditures for equipment leased to others | 1,495,000,000 | 1,227,000,000 | 1,465,000,000 |
| Dividends paid | 2,563,000,000 | 2,646,000,000 | 2,749,000,000 |
| Share repurchases | 4,975,000,000 | 7,697,000,000 | 5,190,000,000 |
| Capex | 3,092,000,000 | 3,215,000,000 | 4,286,000,000 |
| Free cash flow | 9,793,000,000 | 8,820,000,000 | 7,453,000,000 |
| Supplemental consolidating data | |||
| Mpe total sales and revenues | 63,869,000,000 | 61,363,000,000 | 63,980,000,000 |
| Financial products total revenues | 3,927,000,000 | 4,212,000,000 | 4,382,000,000 |
| Mpe operating profit | 12,659,000,000 | 13,098,000,000 | 10,884,000,000 |
| Financial products operating profit | 923,000,000 | 605,000,000 | 864,000,000 |
| Mpe profit | 9,999,000,000 | 10,694,000,000 | 8,640,000,000 |
| Financial products profit | 681,000,000 | 723,000,000 | 733,000,000 |
| Mpe cash and equivalents | 6,165,000,000 | 9,333,000,000 | |
| Financial products cash and equivalents | 724,000,000 | 647,000,000 | |
| Mpe total assets | 52,642,000,000 | 60,061,000,000 | |
| Financial products total assets | 37,129,000,000 | 41,661,000,000 | |
| Mpe total liabilities | 36,421,000,000 | 42,621,000,000 | |
| Financial products total liabilities | 32,883,000,000 | 36,820,000,000 | |
| Mpe total equity | 16,221,000,000 | 17,440,000,000 | |
| Financial products total equity | 4,246,000,000 | 4,841,000,000 | |
| Mpe operating cash flow | 11,437,000,000 | 12,278,000,000 | |
| Financial products operating cash flow | 1,445,000,000 | 1,074,000,000 | |
| Mpe capital expenditures | 1,988,000,000 | 2,794,000,000 | |
| Mpe free cash flow | 9,449,000,000 | 9,484,000,000 | |
| Segment results | |||
| Source accession | 0000018230-26-000013 | 0000018230-26-000013 | |
| Basis | recast for the January 1, 2026 move of the Rail division from Power & Energy to Resource Industries | recast for the January 1, 2026 move of the Rail division from Power & Energy to Resource Industries | |
| Construction industries sales and revenues | 25,455,000,000 | 25,060,000,000 | |
| Construction industries profit | 6,165,000,000 | 4,675,000,000 | |
| Resource industries sales and revenues | 15,745,000,000 | 15,920,000,000 | |
| Resource industries profit | 2,676,000,000 | 2,151,000,000 | |
| Power and energy sales and revenues | 25,506,000,000 | 28,624,000,000 | |
| Power and energy profit | 5,598,000,000 | 6,256,000,000 | |
| Financial products segment revenues | 4,053,000,000 | 4,220,000,000 | |
| Financial products segment profit | 932,000,000 | 966,000,000 | |
| Financial products credit quality | |||
| Provision for credit losses | 84,000,000 | 109,000,000 | |
| Allowance for credit losses | 262,000,000 | 277,000,000 | |
| Finance receivables | 23,029,000,000 | 25,150,000,000 | |
CAT quarterly income statement, balance sheet and cash flow
| Q1 2025 | Q2 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|
| Label | Q1 2025 | Q2 2025 | Q1 2026 | Q2 2026 |
| Fiscal year | 2025 | 2025 | 2026 | 2026 |
| Period start | 2025-01-01 | 2025-04-01 | 2026-01-01 | 2026-04-01 |
| Period end | 2025-03-31 | 2025-06-30 | 2026-03-31 | 2026-06-30 |
| Period type | three months | three months | three months | three months |
| Source accession | 0000018230-26-000046 | 0000018230-26-000046 | 0000018230-26-000046 | 0000018230-26-000046 |
| Per share source accession | 0000018230-26-000017 | 0000018230-26-000017 | ||
| Income statement | ||||
| Sales of machinery power and energy | 13,378,000,000 | 15,674,000,000 | 16,473,000,000 | 19,581,000,000 |
| Revenues of financial products | 871,000,000 | 895,000,000 | 942,000,000 | 962,000,000 |
| Total sales and revenues | 14,249,000,000 | 16,569,000,000 | 17,415,000,000 | 20,543,000,000 |
| Cost of goods sold | 8,965,000,000 | 10,807,000,000 | 11,306,000,000 | 12,781,000,000 |
| Selling general and administrative expenses | 1,593,000,000 | 1,694,000,000 | 1,816,000,000 | 2,018,000,000 |
| Research and development expenses | 480,000,000 | 551,000,000 | 537,000,000 | 616,000,000 |
| Interest expense of financial products | 326,000,000 | 336,000,000 | 345,000,000 | 362,000,000 |
| Other operating income expenses | 306,000,000 | 321,000,000 | 326,000,000 | 471,000,000 |
| Total operating costs | 11,670,000,000 | 13,709,000,000 | 14,330,000,000 | 16,248,000,000 |
| Operating profit | 2,579,000,000 | 2,860,000,000 | 3,085,000,000 | 4,295,000,000 |
| Interest expense excluding financial products | 116,000,000 | 126,000,000 | 134,000,000 | 135,000,000 |
| Other income expense | 107,000,000 | 84,000,000 | 260,000,000 | 398,000,000 |
| Profit before taxes | 2,570,000,000 | 2,818,000,000 | 3,211,000,000 | 4,558,000,000 |
| Provision for income taxes | 574,000,000 | 646,000,000 | 670,000,000 | 1,055,000,000 |
| Profit of consolidated companies | 1,996,000,000 | 2,172,000,000 | 2,541,000,000 | 3,503,000,000 |
| Equity in profit loss of unconsolidated affiliated companies | 7,000,000 | 7,000,000 | 7,000,000 | 90,000,000 |
| Profit of consolidated and affiliated companies | 2,003,000,000 | 2,179,000,000 | 2,548,000,000 | 3,593,000,000 |
| Profit loss attributable to noncontrolling interests | 0 | 0 | -1,000,000 | 0 |
| Net income | 2,003,000,000 | 2,179,000,000 | 2,549,000,000 | 3,593,000,000 |
| Basic EPS | 4.22 | 4.64 | 5.5 | 7.8 |
| Diluted EPS | 4.2 | 4.62 | 5.47 | 7.77 |
| Basic shares | 474,900,000 | 469,700,000 | 463,400,000 | 460,400,000 |
| Diluted shares | 477,100,000 | 471,500,000 | 465,800,000 | 462,500,000 |
| Balance sheet | ||||
| Total equity | 18,070,000,000 | 18,663,000,000 | 18,660,000,000 | 19,394,000,000 |
| Cash and equivalents | 6,713,000,000 | |||
| Receivables trade and other current | 13,188,000,000 | |||
| Finance receivables current | 10,844,000,000 | |||
| Inventories | 20,627,000,000 | |||
| Total current assets | 54,450,000,000 | |||
| Property plant and equipment net | 15,628,000,000 | |||
| Finance receivables long term | 14,364,000,000 | |||
| Goodwill | 5,859,000,000 | |||
| Total assets | 102,609,000,000 | |||
| Short term borrowings financial products | 5,046,000,000 | |||
| Long term debt due within one year machinery power and energy | 35,000,000 | |||
| Long term debt due within one year financial products | 8,026,000,000 | |||
| Total current liabilities | 39,790,000,000 | |||
| Long term debt due after one year machinery power and energy | 10,655,000,000 | |||
| Long term debt due after one year financial products | 21,384,000,000 | |||
| Total liabilities | 83,215,000,000 | |||
| Total debt | 45,146,000,000 | |||
| Total finance receivables | 25,208,000,000 | |||
| Supplemental consolidating data | ||||
| Mpe total sales and revenues | 13,378,000,000 | 15,674,000,000 | 16,473,000,000 | 19,581,000,000 |
| Financial products total revenues | 1,048,000,000 | 1,081,000,000 | 1,143,000,000 | 1,188,000,000 |
| Mpe operating profit | 2,515,000,000 | 2,795,000,000 | 2,999,000,000 | 4,214,000,000 |
| Financial products operating profit | 201,000,000 | 212,000,000 | 237,000,000 | 263,000,000 |
| Mpe profit | 1,838,000,000 | 1,987,000,000 | 2,359,000,000 | 3,363,000,000 |
| Financial products profit | 165,000,000 | 192,000,000 | 190,000,000 | 230,000,000 |
| Mpe cash and equivalents | 5,945,000,000 | |||
| Financial products cash and equivalents | 768,000,000 | |||
| Mpe total assets | 61,621,000,000 | |||
| Financial products total assets | 44,003,000,000 | |||
| Mpe total liabilities | 46,510,000,000 | |||
| Financial products total liabilities | 38,778,000,000 | |||
| Mpe total equity | 15,111,000,000 | |||
| Financial products total equity | 5,225,000,000 | |||
| Segment results | ||||
| Power and energy sales and revenues | 5,783,000,000 | 7,037,000,000 | 7,031,000,000 | 8,238,000,000 |
| Construction industries sales and revenues | 5,184,000,000 | 6,190,000,000 | 7,161,000,000 | 8,346,000,000 |
| Resource industries sales and revenues | 3,661,000,000 | 3,886,000,000 | 3,797,000,000 | 4,648,000,000 |
| Financial products segment revenues | 1,007,000,000 | 1,042,000,000 | 1,096,000,000 | 1,145,000,000 |
| Power and energy profit | 1,288,000,000 | 1,554,000,000 | 1,450,000,000 | 2,027,000,000 |
| Construction industries profit | 1,024,000,000 | 1,244,000,000 | 1,535,000,000 | 1,947,000,000 |
| Resource industries profit | 623,000,000 | 563,000,000 | 378,000,000 | 693,000,000 |
| Financial products segment profit | 215,000,000 | 248,000,000 | 245,000,000 | 328,000,000 |
| Financial products credit quality | ||||
| Provision for credit losses | 33,000,000 | 21,000,000 | 29,000,000 | 29,000,000 |
| Allowance for credit losses | 285,000,000 | 286,000,000 | ||
| Finance receivables | 24,220,000,000 | 25,448,000,000 | ||
| Past dues percent | 1.62 | 1.31 | ||
| Write offs net of recoveries | 18,000,000 | 20,000,000 | ||
CAT year-to-date income statement and cash flow
| Six months ended June 30, 2026 | |
|---|---|
| Label | Six months ended June 30, 2026 |
| Period start | 2026-01-01 |
| Period end | 2026-06-30 |
| Period type | six months |
| Source accession | 0000018230-26-000046 |
| Income statement | |
| Sales of machinery power and energy | 36,054,000,000 |
| Revenues of financial products | 1,904,000,000 |
| Total sales and revenues | 37,958,000,000 |
| Cost of goods sold | 24,087,000,000 |
| Selling general and administrative expenses | 3,834,000,000 |
| Research and development expenses | 1,153,000,000 |
| Interest expense of financial products | 707,000,000 |
| Other operating income expenses | 797,000,000 |
| Total operating costs | 30,578,000,000 |
| Operating profit | 7,380,000,000 |
| Interest expense excluding financial products | 269,000,000 |
| Other income expense | 658,000,000 |
| Profit before taxes | 7,769,000,000 |
| Provision for income taxes | 1,725,000,000 |
| Profit of consolidated companies | 6,044,000,000 |
| Equity in profit loss of unconsolidated affiliated companies | 97,000,000 |
| Profit of consolidated and affiliated companies | 6,141,000,000 |
| Profit loss attributable to noncontrolling interests | -1,000,000 |
| Net income | 6,142,000,000 |
| Basic EPS | 13.29 |
| Diluted EPS | 13.23 |
| Basic shares | 462,000,000 |
| Diluted shares | 464,300,000 |
| Balance sheet | |
| Cash and equivalents | 6,713,000,000 |
| Receivables trade and other current | 13,188,000,000 |
| Finance receivables current | 10,844,000,000 |
| Inventories | 20,627,000,000 |
| Total current assets | 54,450,000,000 |
| Property plant and equipment net | 15,628,000,000 |
| Finance receivables long term | 14,364,000,000 |
| Goodwill | 5,859,000,000 |
| Total assets | 102,609,000,000 |
| Short term borrowings financial products | 5,046,000,000 |
| Long term debt due within one year machinery power and energy | 35,000,000 |
| Long term debt due within one year financial products | 8,026,000,000 |
| Total current liabilities | 39,790,000,000 |
| Long term debt due after one year machinery power and energy | 10,655,000,000 |
| Long term debt due after one year financial products | 21,384,000,000 |
| Total liabilities | 83,215,000,000 |
| Total equity | 19,394,000,000 |
| Total debt | 45,146,000,000 |
| Total finance receivables | 25,208,000,000 |
| Cash flow | |
| Depreciation and amortization | 1,211,000,000 |
| Operating cash flow | 6,241,000,000 |
| Capital expenditures excluding equipment leased to others | 1,315,000,000 |
| Expenditures for equipment leased to others | 847,000,000 |
| Dividends paid | 1,399,000,000 |
| Share repurchases | 6,522,000,000 |
| Capex | 2,162,000,000 |
| Free cash flow | 4,079,000,000 |
| Supplemental consolidating data | |
| Mpe total sales and revenues | 36,054,000,000 |
| Financial products total revenues | 2,331,000,000 |
| Mpe operating profit | 7,213,000,000 |
| Financial products operating profit | 500,000,000 |
| Mpe profit | 5,722,000,000 |
| Financial products profit | 420,000,000 |
| Mpe operating cash flow | 7,011,000,000 |
| Mpe free cash flow | 5,698,000,000 |
| Mpe capital expenditures | 1,313,000,000 |
| Financial products operating cash flow | 614,000,000 |
| Segment results | |
| Power and energy sales and revenues | 15,269,000,000 |
| Construction industries sales and revenues | 15,507,000,000 |
| Resource industries sales and revenues | 8,445,000,000 |
| Power and energy profit | 3,477,000,000 |
| Construction industries profit | 3,482,000,000 |
| Resource industries profit | 1,071,000,000 |
| Financial products segment revenues | 2,241,000,000 |
| Financial products segment profit | 573,000,000 |
| Prior year comparative | |
| Label | Six months ended June 30, 2025 |
| Period start | 2025-01-01 |
| Period end | 2025-06-30 |
| Period type | six months |
| Source accession | 0000018230-26-000046 |
| Income statement | |
| Sales of machinery power and energy | 29,052,000,000 |
| Revenues of financial products | 1,766,000,000 |
| Total sales and revenues | 30,818,000,000 |
| Cost of goods sold | 19,772,000,000 |
| Selling general and administrative expenses | 3,287,000,000 |
| Research and development expenses | 1,031,000,000 |
| Interest expense of financial products | 662,000,000 |
| Other operating income expenses | 627,000,000 |
| Total operating costs | 25,379,000,000 |
| Operating profit | 5,439,000,000 |
| Interest expense excluding financial products | 242,000,000 |
| Other income expense | 191,000,000 |
| Profit before taxes | 5,388,000,000 |
| Provision for income taxes | 1,220,000,000 |
| Profit of consolidated companies | 4,168,000,000 |
| Equity in profit loss of unconsolidated affiliated companies | 14,000,000 |
| Profit of consolidated and affiliated companies | 4,182,000,000 |
| Profit loss attributable to noncontrolling interests | 0 |
| Net income | 4,182,000,000 |
| Basic EPS | 8.85 |
| Diluted EPS | 8.82 |
| Basic shares | 472,400,000 |
| Diluted shares | 474,500,000 |
| Cash flow | |
| Depreciation and amortization | 1,094,000,000 |
| Operating cash flow | 4,411,000,000 |
| Capital expenditures excluding equipment leased to others | 1,265,000,000 |
| Expenditures for equipment leased to others | 608,000,000 |
| Dividends paid | 1,336,000,000 |
| Share repurchases | 4,488,000,000 |
| Capex | 1,873,000,000 |
| Free cash flow | 2,538,000,000 |
| Supplemental consolidating data | |
| Mpe total sales and revenues | 29,052,000,000 |
| Financial products total revenues | 2,129,000,000 |
| Mpe operating profit | 5,310,000,000 |
| Financial products operating profit | 413,000,000 |
| Mpe profit | 3,825,000,000 |
| Financial products profit | 357,000,000 |
| Mpe operating cash flow | 3,862,000,000 |
| Mpe free cash flow | 2,575,000,000 |
| Mpe capital expenditures | 1,287,000,000 |
| Segment results | |
| Power and energy sales and revenues | 12,820,000,000 |
| Construction industries sales and revenues | 11,374,000,000 |
| Resource industries sales and revenues | 7,547,000,000 |
| Power and energy profit | 2,842,000,000 |
| Construction industries profit | 2,268,000,000 |
| Resource industries profit | 1,186,000,000 |
| Financial products segment revenues | 2,049,000,000 |
| Financial products segment profit | 463,000,000 |
CAT trailing twelve month income statement and cash flow
| Twelve months ended June 30, 2026 | |
|---|---|
| Label | Twelve months ended June 30, 2026 |
| Period start | 2025-07-01 |
| Period end | 2026-06-30 |
| Period type | trailing twelve months |
| Source accession | 0000018230-26-000046 |
| Derivation | fiscal 2025 plus the six months ended June 30, 2026, less the six months ended June 30, 2025 |
| Income statement | |
| Sales of machinery power and energy | 70,982,000,000 |
| Revenues of financial products | 3,747,000,000 |
| Total sales and revenues | 74,729,000,000 |
| Cost of goods sold | 49,067,000,000 |
| Selling general and administrative expenses | 7,532,000,000 |
| Research and development expenses | 2,270,000,000 |
| Interest expense of financial products | 1,404,000,000 |
| Other operating income expenses | 1,364,000,000 |
| Total operating costs | 61,637,000,000 |
| Operating profit | 13,092,000,000 |
| Interest expense excluding financial products | 529,000,000 |
| Other income expense | 1,359,000,000 |
| Profit before taxes | 13,922,000,000 |
| Provision for income taxes | 3,273,000,000 |
| Profit of consolidated companies | 10,649,000,000 |
| Equity in profit loss of unconsolidated affiliated companies | 192,000,000 |
| Profit of consolidated and affiliated companies | 10,841,000,000 |
| Profit loss attributable to noncontrolling interests | -3,000,000 |
| Net income | 10,844,000,000 |
| Diluted EPS | 23.22 |
| Cash flow | |
| Depreciation and amortization | 2,379,000,000 |
| Operating cash flow | 13,569,000,000 |
| Capital expenditures excluding equipment leased to others | 2,871,000,000 |
| Expenditures for equipment leased to others | 1,704,000,000 |
| Capex | 4,575,000,000 |
| Free cash flow | 8,994,000,000 |
| Dividends paid | 2,812,000,000 |
| Share repurchases | 7,224,000,000 |
| Supplemental consolidating data | |
| Mpe total sales and revenues | 70,982,000,000 |
| Financial products total revenues | 4,584,000,000 |
| Mpe operating profit | 12,787,000,000 |
| Financial products operating profit | 951,000,000 |
| Mpe profit | 10,537,000,000 |
| Financial products profit | 796,000,000 |
| Mpe operating cash flow | 15,427,000,000 |
| Mpe capital expenditures | 2,820,000,000 |
| Mpe free cash flow | 12,607,000,000 |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| ADR ratio | n/a |
| FX | none applied - Caterpillar reports in U.S. dollars |
Notes
- Sources: the FY2025 Form 10-K (accession 0000018230-26-000008, filed February 13, 2026, fiscal year ended December 31, 2025) and the second-quarter 2026 Form 10-Q (accession 0000018230-26-000046, filed August 5, 2026, period ended June 30, 2026), together with two Caterpillar exhibits that carry figures those two do not - the recast historical segment information filed March 26, 2026 (accession 0000018230-26-000013, Exhibit 99.1) and the first-quarter 2026 results release filed April 30, 2026 (accession 0000018230-26-000017, Exhibit 99.1). Caterpillar's fiscal year is the calendar year.
- Schema: Caterpillar is an industrial manufacturer that also owns a captive finance business, so a single industrial template would hide half of it. Alongside the consolidated statements, every period carries the company's own supplemental consolidating data, which splits the group into Machinery, Power & Energy (MP&E - Caterpillar and its subsidiaries excluding Financial Products) and Financial Products (mainly Caterpillar Financial Services Corporation, 'Cat Financial', and Caterpillar Insurance Holdings). Cat Financial credit-quality measures are carried in their own block.
- Line-item names: 'net_income' is the line Caterpillar labels 'Profit', which is profit attributable to common shareholders. 'operating_profit' is the filing's 'Operating profit'. Caterpillar does not present a gross profit subtotal, so none is shown.
- From pre-tax profit to Profit: Caterpillar prints four lines between the provision for income taxes and the bottom-line 'Profit', and all four are carried here. 'profit_of_consolidated_companies' is profit before taxes less the provision for income taxes; 'equity_in_profit_loss_of_unconsolidated_affiliated_companies' is Caterpillar's share of the results of affiliated companies it does not consolidate; the two together are 'profit_of_consolidated_and_affiliated_companies'; and 'profit_loss_attributable_to_noncontrolling_interests' is the share belonging to outside owners of consolidated subsidiaries, which the statement deducts ('Less:'). That last line is carried with the sign the statement prints, so a negative amount is a loss attributable to those outside owners and therefore raises Profit. Every period reconciles: profit before taxes, less income taxes, plus equity in affiliated companies, less profit attributable to noncontrolling interests, equals net_income. For fiscal 2025: $11,541 million less $2,768 million is $8,773 million; plus $109 million is $8,882 million; less negative $2 million is $8,884 million. The amounts are small in every period shown - the equity in affiliated companies line ranges from $7 million to $109 million and noncontrolling interests from nil to negative $4 million - but without them the income statement does not add up.
- Cash-flow sign convention: capital expenditures, dividends paid and share repurchases are recorded here as positive amounts of cash spent; the statements print them in parentheses as outflows.
- 'capex' is the sum of the two capital-spending lines on the cash flow statement - 'Capital expenditures - excluding equipment leased to others' and 'Expenditures for equipment leased to others' - and 'free_cash_flow' is operating cash flow less that total. This is a whole-company measure and includes Cat Financial's spending on equipment leased to others.
- 'mpe_free_cash_flow' is Caterpillar's own measure, taken from the reconciliation it publishes: MP&E net cash provided by operating activities less MP&E capital expenditures, excluding discretionary pension and other postretirement benefit plan contributions. It is not the same as consolidated free cash flow and the company's stated goal is to return substantially all of it to shareholders over time.
- Segment reporting: the Rail realignment. Effective January 1, 2026, responsibility for diesel-electric, hybrid and battery-electric locomotives and components and other rail-related products and services, including remanufacturing and leasing, moved from Power & Energy to Resource Industries. Caterpillar recast its 2025 and 2024 segment results for that move and published them on March 26, 2026 (accession 0000018230-26-000013, Exhibit 99.1), and the Q2 2026 10-Q states that segment information for 2025 has been retrospectively adjusted to conform to the 2026 presentation. Every segment figure carried here is on that recast basis: the FY2025 and FY2024 rows are taken from the recast exhibit, and the 2025 and 2026 quarters and six-month periods from the 10-Q. The move is large. On the recast basis FY2025 Resource Industries sales and revenues are $15,920 million and Power & Energy $28,624 million; the FY2025 10-K, published before the recast, showed $12,474 million and $32,201 million for the same year with Rail inside Power & Energy. Segment profit moved with the sales. After the move Power & Energy no longer reports a Transportation application - sales into marine applications and product support for on-highway engines are now reported within its Industrial application. No FY2023 segment figures are shown: the recast covers 2025 and 2024 only, and the FY2023 segment figures the filings otherwise provide still have Rail inside Power & Energy, so they are not comparable with 2024 onward.
- Segment reporting: an earlier and separate realignment took effect July 1, 2025. Responsibility for wear and maintenance components and related parts moved from the All Other Segment to Resource Industries; responsibility for electronics and control systems moved from Resource Industries to the All Other Segment; and research and development for automation, electronics and software for machines and engines moved from Resource Industries to the All Other Segment. Caterpillar retrospectively adjusted 2024 and 2023 for those changes in the FY2025 10-K, and the recast figures used here already reflect them.
- Segment naming: the FY2025 10-K and the Q2 2026 10-Q call the segment Power & Energy and the industrial line of business Machinery, Power & Energy (MP&E), and use those names for every period they present. Neither filing describes a change of name or gives a date for one. Caterpillar's quarterly results releases used the names Energy & Transportation and Machinery, Energy & Transportation (ME&T) through the third-quarter 2025 release and the present names from the fourth-quarter 2025 release, issued January 29, 2026, onward.
- Segment profit is measured on a pretax basis. Construction Industries, Resource Industries and Power & Energy exclude most interest expense and certain other income and expense; Financial Products Segment profit includes other income and expense. The four reportable segments do not sum to consolidated operating profit - the All Other Segment, Corporate Items and Eliminations, and consolidating adjustments reconcile the difference, and are not carried as separate line items here.
- In the supplemental consolidating data, Financial Products is shown before elimination of transactions with MP&E, so 'financial_products_total_revenues' is larger than the consolidated 'Revenues of Financial Products' line (for fiscal 2025, $4,382 million against $3,609 million).
- 'total_debt' is short-term borrowings plus long-term debt due within one year plus long-term debt due after one year, across both MP&E and Financial Products. Most of the debt funds the finance portfolio: at June 30, 2026, $34,456 million of the $45,146 million total sat at Financial Products.
- First-quarter figures. The 10-Q presents a three-month column and a six-month column but no first-quarter column, so the Q1 2026 and Q1 2025 income-statement, segment and MP&E/Financial Products figures here are the six-month column less the corresponding second quarter. Those derived amounts agree to the dollar with the first quarters Caterpillar reported in its first-quarter 2026 results release (accession 0000018230-26-000017, Exhibit 99.1). Per-share amounts and weighted-average share counts cannot be obtained by differencing, so for those two quarters they are taken directly from that release as Caterpillar reported them; the share counts there carry their own '(millions)' caption, as on the 10-K and 10-Q.
- Trailing twelve months is fiscal 2025 plus the six months ended June 30, 2026, less the six months ended June 30, 2025. Its diluted earnings per share is the sum of the per-share amounts those periods reported ($18.81 + $13.23 - $8.82); a weighted-average computation over the twelve months would differ slightly.
- Balance-sheet coverage follows what the filings print. The FY2025 10-K's statement of financial position shows December 31, 2025 and December 31, 2024 only, so FY2023 carries only total shareholders' equity, taken from the statement of changes in shareholders' equity. The 10-Q shows June 30, 2026 and December 31, 2025 only, so Q1 2026, Q2 2025 and Q1 2025 likewise carry only total shareholders' equity from the equity statement. Total shareholders' equity as reported includes noncontrolling interests, which are immaterial (nil at December 31, 2025).
- The 10-Q presents cash flow only on a year-to-date basis, so there are no quarterly cash-flow figures; the six-month and trailing-twelve-month blocks carry cash flow instead.
- Cat Financial credit quality: 'provision_for_credit_losses' and 'allowance_for_credit_losses' come from the allowance rollforward in the financial statement notes and cover the customer and dealer portfolios. 'past_dues_percent' and 'write_offs_net_of_recoveries' are as stated in Management's Discussion and Analysis; a finance receivable is treated as past due when any installment is more than 30 days overdue.
- Common stock at paid-in amount fell from $7,181 million at December 31, 2025 to $5,654 million at June 30, 2026, largely because $1,600 million of outstanding authorized accelerated share repurchases were recorded against it during the six months.
- This is the first record built for Caterpillar, so there is no earlier figure to compare against; the FY2024 and FY2023 columns are as presented in the FY2025 10-K, except for FY2024 segment results, which are on the recast basis described above. Every figure here was read off the statements as printed in the filings cited; no adjustment for currency, share splits or depositary ratios applies - Caterpillar reports in U.S. dollars, has had no stock split since at least 2018, and its common stock trades directly on the New York Stock Exchange.
Uncertainties
- Q1 2026 and Q1 2025 - income statement, segment and MP&E/Financial Products figures - are derived by differencing the six-month column against the second quarter rather than read from a column of their own in the 10-Q. They are internally consistent to the dollar with both printed columns and match the corresponding quarters as Caterpillar reported them in its first-quarter 2026 results release. The per-share amounts and weighted-average share counts for those two quarters are taken from that release as reported and are not derived.
- No first-quarter or year-ago-quarter balance sheet or cash flow is available. Q1 2026, Q2 2025 and Q1 2025 carry only total shareholders' equity, and FY2023 likewise; the underlying statements simply do not print those columns.
- The FY2025 10-K's supplemental consolidating financial position and cash flow tables cover 2025 and 2024 only, so the MP&E versus Financial Products split of assets, liabilities, equity and cash flow is absent for FY2023.
- No FY2023 segment sales or profit is carried. Caterpillar's recast of historical segment results for the January 1, 2026 move of the Rail division covers 2025 and 2024 only, so there is no FY2023 figure on the basis the rest of the segment record uses, and the pre-recast FY2023 figures would not be comparable with the years after it.
- Trailing-twelve-month diluted earnings per share is a sum of reported per-share amounts rather than a weighted-average calculation, and no trailing-twelve-month share count is stated for that reason.
- Cat Financial's allowance for credit losses as described in Management's Discussion and Analysis is on a slightly wider basis than the customer-plus-dealer allowance rollforward in the financial statement notes, which is the figure carried here. Management's Discussion and Analysis gives $294 million, or 0.84 percent of finance receivables, at June 30, 2026 and $284 million, or 0.86 percent, at year-end 2025, against the $286 million and $277 million carried for those dates.
- Segment sales and profit for the All Other Segment and for Corporate Items and Eliminations are not carried, so the segment lines shown do not add to the consolidated totals.
Company details
| Value | |
|---|---|
| Name | Caterpillar Inc |
| Ticker | CAT |
| CIK | 0000018230 |
| Exchange | NYSE |
| State | Texas |
| Incorporation | Delaware |
| SIC | 3531 |
| Office | Technology |
| Industry | Construction Machinery & Equip |
Fiscal period
| FY2026 | |
|---|---|
| Fiscal year | 2026 |
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-06-30 |
| Form | 10-Q |
| Accession | 0000018230-26-000046 |
| Fiscal year end | 1231 |
| Source | facts |
FAQ · Caterpillar financial statements
How much revenue did Caterpillar report in Q2 FY2026?
Caterpillar reported $20.54 billion of total sales and revenues for Q2 FY2026, the quarter ended June 30, 2026. That is up 24.0% from $16.57 billion in the same quarter a year earlier, with higher volume and favorable price realization in Construction Industries, Resource Industries and Power & Energy.
What were Caterpillar's earnings per share in Q2 FY2026?
Caterpillar earned $7.77 per diluted share in Q2 FY2026, up from $4.62 in the same quarter a year earlier. Profit for the quarter was $3.59 billion, up 64.9%; per-share growth ran slightly ahead of that because continued repurchases reduced the average share count.
Why did Caterpillar's profit rise so much in Q2 FY2026?
Caterpillar's profit of $3.59 billion in Q2 FY2026 was up 64.9% from $2.18 billion a year earlier, growing faster than sales and revenues, which were up 24.0%. Operating profit of $4.29 billion included expected recoveries of tariffs paid under the International Emergency Economic Powers Act after the U.S. Supreme Court ruled those tariffs unauthorized, and other income was higher on foreign currency and investment gains, so the profit increase overstates the underlying improvement in the manufacturing business.
How is Caterpillar's construction equipment business doing?
Caterpillar's Construction Industries segment recorded sales of $8.35 billion in Q2 FY2026, up 34.8% from $6.19 billion a year earlier, mainly on higher sales of equipment to end users, with sales up in all four geographic regions. It was the largest of Caterpillar's three primary segments by sales in the quarter.
Where can I get Caterpillar Inc. (CAT) financial data in machine-readable form?
Ticker Scout publishes Caterpillar Inc.'s financial statements as JSON at https://tickerscout.ai/cat/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/cat/narrative.md and https://tickerscout.ai/cat/events.md. Caterpillar Inc.'s SEC CIK is 0000018230. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Caterpillar Inc. (CAT) next file with the SEC?
Caterpillar Inc. (CAT) is expected to file its next Form 10-Q with the SEC on or around November 2, 2026. That date is a projection rather than a company-announced date: it is derived from Caterpillar Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0000018230-26-000046.
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How this page was built
This page was built from four of Caterpillar Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names seven such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Caterpillar Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.