What is Caterpillar's net operating loss carryforwards?

Caterpillar (CAT) reported net operating loss carryforwards of $1.3B in Q4 2025.

How has Caterpillar's net operating loss carryforwards changed year-over-year?

Caterpillar's net operating loss carryforwards decreased by 3.6% year-over-year, from $1.35B to $1.3B.

What is the long-term trend for Caterpillar's net operating loss carryforwards?

Over 5 years (2020 to 2025), Caterpillar's net operating loss carryforwards has grown at a -0.7% compound annual growth rate (CAGR), from $1.35B to $1.3B.

What does net operating loss carryforwards mean?

Past losses that the company can use to lower its future tax bills.

Non-Current Assets

Net Operating Loss Carryforwards

Caterpillar Net Operating Loss Carryforwards decreased by 3.6% to $1.3B in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 3.6%, from $1.35B to $1.3B. Over 5 years (FY 2020 to FY 2025), Net Operating Loss Carryforwards shows relatively stable performance with a -0.7% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.

Analysis

StatementBalance Sheet Statement

SectionNon-Current Assets

CategoryProfitability

SignalHigher is better

VolatilityStable

First reportedQ4 2014

Last reportedQ4 2025Feb 13, 2026

How to read this metric

An increase suggests significant past losses, but also provides a larger potential tax benefit for future profitable years.

Detailed definition

These are tax assets representing losses that can be used to reduce taxable income in future periods. They provide a pot...

Peer comparison

Common in cyclical industries where companies experience periods of significant losses.

Metric ID: net_operating_loss_carryforwards

Historical Data

5 periods

	Q4 '21	Q4 '22	Q4 '23	Q4 '24	Q4 '25
Value	$1.38B	$1.35B	$1.39B	$1.35B	$1.3B
QoQ Change	—	-2.2%	+3.0%	-3.1%	-3.6%
YoY Change	—	-2.2%	+3.0%	-3.1%	-3.6%

Range$1.3B – $1.39B

CAGR-5.9%

Avg YoY Growth-1.5%

Median YoY Growth-2.7%

Current Streak2 quarters decline

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Frequently Asked Questions

What is Caterpillar's net operating loss carryforwards?: Caterpillar (CAT) reported net operating loss carryforwards of $1.3B in Q4 2025.
How has Caterpillar's net operating loss carryforwards changed year-over-year?: Caterpillar's net operating loss carryforwards decreased by 3.6% year-over-year, from $1.35B to $1.3B.
What is the long-term trend for Caterpillar's net operating loss carryforwards?: Over 5 years (2020 to 2025), Caterpillar's net operating loss carryforwards has grown at a -0.7% compound annual growth rate (CAGR), from $1.35B to $1.3B.
What does net operating loss carryforwards mean?: Past losses that the company can use to lower its future tax bills.