What is Caterpillar's contract with customer, liability?

Caterpillar (CAT) reported contract with customer, liability of $4.68B in Q4 2025.

How has Caterpillar's contract with customer, liability changed year-over-year?

Caterpillar's contract with customer, liability increased by 70.4% year-over-year, from $2.75B to $4.68B.

What is the long-term trend for Caterpillar's contract with customer, liability?

Over 5 years (2020 to 2025), Caterpillar's contract with customer, liability has grown at a 25.1% compound annual growth rate (CAGR), from $1.53B to $4.68B.

What does contract with customer, liability mean?

The value of services owed to customers for which payment has already been received.

Other

Contract with Customer, Liability

Caterpillar Contract with Customer, Liability increased by 70.4% to $4.68B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 70.4%, from $2.75B to $4.68B. Over 5 years (FY 2020 to FY 2025), Contract with Customer, Liability shows an upward trend with a 25.1% CAGR.

Analysis

StatementBalance Sheet Statement

SectionOther

CategoryGrowth

SignalContext dependent

VolatilityModerate

First reportedQ4 2018

Last reportedQ4 2025Feb 13, 2026

How to read this metric

An increase indicates higher deferred revenue and future service obligations, while a decrease suggests revenue is being recognized faster than new prepayments are received.

Detailed definition

This represents the obligation to transfer services to a customer for which the entity has received consideration or for...

Peer comparison

Similar to deferred revenue or contract liabilities reported by other asset management and financial services companies.

Metric ID: other_contract_with_customer_liability

Historical Data

5 periods

	Q4 '21	Q4 '22	Q4 '23	Q4 '24	Q4 '25
Value	$1.56B	$2.31B	$2.39B	$2.75B	$4.68B
QoQ Change	—	+48.6%	+3.2%	+14.9%	+70.4%
YoY Change	—	+48.6%	+3.2%	+14.9%	+70.4%

Range$1.56B – $4.68B

CAGR+200.4%

Avg YoY Growth+34.3%

Median YoY Growth+31.8%

Current Streak4+ quarters growth

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Frequently Asked Questions

What is Caterpillar's contract with customer, liability?: Caterpillar (CAT) reported contract with customer, liability of $4.68B in Q4 2025.
How has Caterpillar's contract with customer, liability changed year-over-year?: Caterpillar's contract with customer, liability increased by 70.4% year-over-year, from $2.75B to $4.68B.
What is the long-term trend for Caterpillar's contract with customer, liability?: Over 5 years (2020 to 2025), Caterpillar's contract with customer, liability has grown at a 25.1% compound annual growth rate (CAGR), from $1.53B to $4.68B.
What does contract with customer, liability mean?: The value of services owed to customers for which payment has already been received.