What is Caterpillar's depreciation?

Caterpillar (CAT) reported depreciation of $523.25M in Q4 2025.

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

Caterpillar's depreciation increased by 5.5% year-over-year, from $495.75M to $523.25M.

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

Over 4 years (2021 to 2025), Caterpillar's depreciation has grown at a 0.5% compound annual growth rate (CAGR), from $2.05B to $2.09B.

Caterpillar CAT Depreciation

Depreciation at other companies

TerexTEX

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Allison Transmission HoldingsALSN

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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$387.29B+91.5%

P/E41.1×+19.6×

P/S5.5×+2.3×

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:Depreciation.

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 depreciation?: Caterpillar (CAT) reported depreciation of $523.25M in Q4 2025.
How has Caterpillar's depreciation changed year-over-year?: Caterpillar's depreciation increased by 5.5% year-over-year, from $495.75M to $523.25M.
What is the long-term trend for Caterpillar's depreciation?: Over 4 years (2021 to 2025), Caterpillar's depreciation has grown at a 0.5% compound annual growth rate (CAGR), from $2.05B to $2.09B.