What are Caterpillar's profit margins?

Caterpillar (CAT) runs a 96.6% gross margin and a 16.5% operating margin, with a 13.3% net margin.

Where do Caterpillar's ratios come from?

Every ratio is computed from Caterpillar's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Caterpillar CAT Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	96.6%-4.4pp	99.9%0.0pp	97.5%-5.1pp	100%-1.8pp	101%+0.6pp
Operating margin	16.5%-2.7pp	16.5%-3.7pp	17.7%-2.6pp	18.2%-2.2pp	19.2%-1.4pp
Net margin	13.3%-2.4pp	13.1%-3.5pp	14.3%-1.9pp	14.9%-1.6pp	15.7%-1.1pp
EBITDA margin	19.7%-2.9pp	19.8%-3.6pp	21.1%-2.4pp	21.7%-2.0pp	22.6%-1.1pp
Free cash flow margin	13.4%-0.9pp	13.2%-2.3pp	13.8%-2.7pp	14.2%-3.0pp	14.3%-3.1pp
Returns
Return on assets	10.4%-1.3pp	9.5%-2.8pp	10.3%-2.0pp	10.9%-2.2pp	11.8%-1.7pp
Efficiency
Asset turnover	0.8×0.0×	0.7×0.0×	0.7×0.0×	0.7×-0.1×	0.7×-0.1×
Liquidity
Current ratio	1.4×0.0×	1.4×0.0×	1.4×0.0×	1.3×+0.1×	1.3×0.0×
Quick ratio	0.8×0.0×	0.9×0.0×	0.9×0.0×	0.8×0.0×	0.8×-0.1×
Cash ratio	0.1×0.0×	0.3×+0.1×	0.2×0.0×	0.2×0.0×	0.1×0.0×
Valuation
Market capitalization	$329.64B+109%	$268.09B+53.1%	$223.53B+17.9%	$175.44B+7.7%	$157.62B-13.9%
Price / earnings	35×+19.1×	30.2×+13.9×	24.1×+6.3×	18.6×+3.8×	15.9×-0.4×
Price / sales	4.7×+2.2×	4×+1.3×	3.5×+0.6×	2.8×+0.3×	2.5×-0.2×
Free cash flow yield	2.9%-2.9pp	3.3%-2.4pp	4%-1.7pp	5.1%-1.9pp	5.8%-0.6pp
Earnings yield	2.9%-3.4pp	3.3%-2.8pp	4.1%-1.5pp	5.4%-1.4pp	6.3%+0.2pp
Dividend yield	0.8%-0.9pp	1%-0.5pp	1.2%-0.2pp	1.5%-0.1pp	1.7%+0.3pp

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Questions, answered.

What are Caterpillar's profit margins?: Caterpillar (CAT) runs a 96.6% gross margin and a 16.5% operating margin, with a 13.3% net margin.
Where do Caterpillar's ratios come from?: Every ratio is computed from Caterpillar's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.