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Caterpillar CAT Return on invested capital

Return on invested capital at other companies

Cummins logo
CumminsCMI
22.4%-3.2pp
Gencor Industries logo
Gencor IndustriesGENC
4.9%-1.3pp
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
20.5%-0.7pp
Terex logo
TerexTEX
4.4%-7.3pp
Deere & Company logo
Deere & CompanyDE
9.2%-1.8pp
Foster (Lb) Co. logo
Foster (Lb) Co.FSTR
5%-0.1pp

Other financials

Income statement

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Revenue$20.5B+24.0%
Gross profit$7.8B+34.7%
Operating income$4.3B+50.2%
Net income$3.6B+64.9%
EPS (diluted)$7.77+68.2%

Balance sheet

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Cash & equivalents$6.7B+23.4%
Total debt$36.9B+14.2%
Total equity$21.3B+9.4%
Total assets$102.61B+13.6%

Cash flow

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Operating cash flow$4.4B+40.0%
CapEx$587.0M+5.8%
Free cash flow$3.8B+47.4%

Valuation

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Market cap$375.29B+84.0%
P/E34.6×+13.0×
P/S+1.8×

Profitability

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Gross margin94.2%-5.9pp
Operating margin17.5%-0.7pp
Net margin14.5%-0.4pp
FCF margin14.3%+0.1pp

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

Calculated from Caterpillar’s reported figures.

Based on trailing twelve months.

The source filing: Caterpillar’s 10-Q, filed May 6, 2026. Open the filing →

Filed
May 6, 2026, 11:08 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000018230-26-000021

FAQ

What is Caterpillar's return on invested capital?
Caterpillar (CAT) reported return on invested capital of 18.2% in Q4 2025.
How has Caterpillar's return on invested capital changed year-over-year?
Caterpillar's return on invested capital decreased by 24.5% year-over-year, from 24.1% to 18.2%.
What is the long-term trend for Caterpillar's return on invested capital?
Over 5 years (2020 to 2025), Caterpillar's return on invested capital has grown at a 14.3% compound annual growth rate (CAGR), from 9.3% to 18.2%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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