Investing
CapEx
Caterpillar CapEx increased by 36.5% to $898.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 27.7%, from $703.00M to $898.00M. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 26.7% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ4 2013
Last reportedQ4 2025
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
Metric ID:
cf_capital_expendituresHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $167.00M | $254.00M | $420.00M | $346.00M | $240.00M | $282.00M | $428.00M | $422.00M | $261.00M | $378.00M | $536.00M | $500.00M | $341.00M | $444.00M | $703.00M | $710.00M | $555.00M | $658.00M | $898.00M |
| QoQ Change | — | +52.1% | +65.4% | -17.6% | -30.6% | +17.5% | +51.8% | -1.4% | -38.2% | +44.8% | +41.8% | -6.7% | -31.8% | +30.2% | +58.3% | +1.0% | -21.8% | +18.6% | +36.5% |
| YoY Change | — | — | — | — | +43.7% | +11.0% | +1.9% | +22.0% | +8.8% | +34.0% | +25.2% | +18.5% | +30.7% | +17.5% | +31.2% | +42.0% | +62.8% | +48.2% | +27.7% |
Range$167.00M – $898.00M
CAGR+45.3%
Avg YoY Growth+28.3%
Median YoY Growth+27.7%
Current Streak2 quarters growth
CapEx at Other Companies
Frequently Asked Questions
- What is Caterpillar's capex?
- Caterpillar (CAT) reported capex of $898.00M in Q4 2025.
- How has Caterpillar's capex changed year-over-year?
- Caterpillar's capex increased by 27.7% year-over-year, from $703.00M to $898.00M.
- 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?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.