What is Caterpillar's capex?

Caterpillar (CAT) reported capex of $728M in Q1 2026.

How has Caterpillar's capex changed year-over-year?

Caterpillar's capex increased by 2.5% year-over-year, from $710M to $728M.

What is the long-term trend for Caterpillar's capex?

Over 4 years (2021 to 2025), Caterpillar's capex has grown at a 26.7% compound annual growth rate (CAGR), from $1.09B to $2.82B.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

Caterpillar CAT CapEx

CapEx at other companies

CumminsCMI

$189M+16.7%

Twin DiscTWIN

$3.56M+53.9%

Deere & CompanyDE

$195M-3.9%

Foster (Lb) Co.FSTR

$2.96M+15.0%

Astec IndustriesASTE

$8.1M+108%

Titan InternationalTWI

$13.25M-11.8%

Other financials

Income statement

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Revenue$17.4B+22.2%

Gross profit$6.1B+15.6%

Operating income$3.1B+19.6%

Net income$2.5B+27.2%

EPS (diluted)$5.47+30.2%

Balance sheet

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Cash & equivalents$4.1B+14.3%

Total debt$36.9B+14.2%

Total equity$21.3B+9.4%

Total assets$95.6B+12.4%

Cash flow

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Operating cash flow$1.9B+45.1%

Free cash flow$1.1B+97.2%

Valuation

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Market cap$486.85B+187%

P/E51.6×+34.6×

P/S6.9×+4.2×

Profitability

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Gross margin96.6%-4.4pp

Operating margin16.5%-2.7pp

Net margin13.3%-2.4pp

FCF margin13.4%-0.9pp

Returns & leverage

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Return on equity43.5%-11.8pp

Debt / equity1.7×+0.1×

Current ratio1.4×0.0×

Where this comes from

Reported directly by Caterpillar in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: Caterpillar’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Caterpillar's capex?: Caterpillar (CAT) reported capex of $728M in Q1 2026.
How has Caterpillar's capex changed year-over-year?: Caterpillar's capex increased by 2.5% year-over-year, from $710M to $728M.
What is the long-term trend for Caterpillar's capex?: Over 4 years (2021 to 2025), Caterpillar's capex has grown at a 26.7% compound annual growth rate (CAGR), from $1.09B to $2.82B.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.