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Caterpillar CAT License fee income

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%
CapEx$728.0M+2.5%
Free cash flow$1.1B+97.2%

Valuation

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Market cap$490.48B+147%
P/E52×+31.0×
P/S6.9×+3.8×

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:RoyaltyIncomeNonoperating.

The official record: Caterpillar’s 10-K, filed February 13, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Caterpillar's license fee income?
Caterpillar (CAT) reported license fee income of $35.75M in Q4 2025.
How has Caterpillar's license fee income changed year-over-year?
Caterpillar's license fee income increased by 0.7% year-over-year, from $35.5M to $35.75M.
What is the long-term trend for Caterpillar's license fee income?
Over 4 years (2021 to 2025), Caterpillar's license fee income has grown at a 3.8% compound annual growth rate (CAGR), from $123M to $143M.
What does license fee income mean?
This represents revenue generated from granting third parties the right to use the company's intellectual property, brand name, or proprietary technology. It serves as a high-margin revenue stream that leverages the company's established market reputation.