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Caterpillar CAT Q2 2025 earnings

Reported August 5, 2025 · Before market open

Revenue$16.6BBeat by $266.9M
EPS$4.72Miss by $0.17
Revenue estimate$16.3B
EPS estimate$4.89

Next report

Nov 4, 2026 (in a month)
Revenue estimate$20.5B
EPS estimate$6.95

Financials

Q2 2025

Income statement

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Revenue$16.6B-0.7%
Gross profit$5.8B-11.9%
Operating income$2.9B-17.9%
Net income$2.2B-18.7%
EPS (diluted)$4.62-15.7%

Balance sheet

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Cash & equivalents$5.4B+25.4%
Total assets$90.3B+8.4%

Cash flow

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Operating cash flow$3.1B+3.3%
CapEx$555.0M+62.8%
Free cash flow$2.6B-4.2%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$175.44B+7.7%
P/E18.6×+3.8×
P/S2.8×+0.3×

Profitability

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Gross margin100%-1.8pp
Operating margin18.2%-2.2pp
Net margin14.9%-1.6pp
FCF margin14.2%-3.0pp

Returns & leverage

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Current ratio1.3×+0.1×

Segments

By segment

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Construction Industries$6.2B-7.4%
Resource Industries$3.9B+21.2%
Financial Products Segment$1.0B+3.8%
All Other Segment$85.0M-21.3%

By geography

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North
 America$8.9B-2.1%
EAME$3.2B+6.1%
Asia/
 Pacific$2.9B-1.6%
Latin
 America$1.7B-3.7%

By product

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Financial Products$895.0M+5.4%

FAQ

When did Caterpillar report Q2 2025 earnings?
Caterpillar (CAT) reported Q2 2025 earnings on August 5, 2025 before market open.
What were Caterpillar's Q2 2025 revenue and EPS?
Caterpillar reported revenue of $16.6B and eps of $4.72 for Q2 2025.
Did Caterpillar beat estimates in Q2 2025?
Revenue beat the consensus estimate of $16.3B by $266.9M. EPS missed the consensus estimate of $4.89 by $0.17.
How did Caterpillar's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 0.7% from $16.7B a year earlier and eps declined 21.2% from $5.99.
Where can I find Caterpillar's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000018230-25-000037) and the 10-Q periodic report (0000018230-25-000040) directly on SEC EDGAR. The filing index links above go to sec.gov.