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Caterpillar Business Segments

Business, geographic, and product segment breakdowns

Caterpillar generates $70.8B in annual revenue across 4 key segments: Construction Industries ($27.0B), Financial Products Segment ($4.3B), All Other Segment ($353.0M), and Power & Energy ($27.4B). The company-wide operating margin is 16.48%. Based on the Q1 2026 filing.

Construction Industries (TTM)$27.0BFinancial Products Segment (TTM)$4.3BAll Other Segment (TTM)$353.0MPower & Energy (TTM)$27.4BResource Industries (TTM)$13.3B
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$405.27B
P/E Ratio42.99

Products & Services

Interest expense excluding Financial Products

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
All other excluding Financial Products$107.0M$116.0M$126.0M$133.0M$127.0M$134.0M

2026

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$6.6B———$7.1B—
Machinery, Power & Energy————$35.0M—

2027

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$8.5B———$8.9B—
Machinery, Power & Energy————$30.0M—

2028

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$7.7B———$7.5B—
Machinery, Power & Energy————$219.0M—

2029

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$11.0M———$2.6B—
Machinery, Power & Energy————$522.0M—

2030

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$2.1B———$456.0M—
Machinery, Power & Energy————$805.0M—

Available credit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$6.6B———$5.9B—
Machinery, Power & Energy————$3.8B—

Credit lines available

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$11.2B———$12.1B—
Machinery, Power & Energy———$1.3B$3.8B—

Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Value of the Hedged Liabilities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products-$170.0M———-$88.0M—

Depreciation on equipment leased to others

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$180.5M$174.8M$174.8M$174.8M$174.8M—

Interest expense of Financial Products

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$338.0M$326.0M$336.0M$346.0M$351.0M$345.0M

Line of Credit Facility, Global Credit Facilities Supporting Commercial Paper

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Machinery, Power & Energy————$0.0—

Loans Carried at Fair Value

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$59.0M$70.0M$61.0M—$63.0M$71.0M

Long-term debt due after one year

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$18.8B$17.2B$17.3B$17.1B$20.0B$20.0B
Sales of Machinery, Power & Energy$8.6B———$10.7B$10.7B
Financial Products Segment$18.8B———$20.0B—

Long-term debt due within one year

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$6.6B$9.3B$8.3B$9.3B$7.1B$7.7B
Sales of Machinery, Power & Energy$46.0M———$35.0M$35.0M

Long-term debt (including amounts due within one year)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$25.4B$26.5B$25.6B$26.4B$27.2B$27.6B
Sales of Machinery, Power & Energy$8.6B———$10.7B$10.7B

Long-term line of credit outstanding

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$687.0M———$771.0M—
Machinery, Power & Energy————$0.0—

Medium-term notes, interest rate

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products1.0%0.9%0.9%0.9%0.9%—

Proceeds from debt issued (original maturities greater than three months):

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$2.7B$2.6B$1.1B$2.7B$2.7B$3.9B
Machinery, Power & Energy$0.0$494.0M$494.0M$494.0M$494.0M—

Repayments of Debt, Maturing in More than Three Months

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$2.4B$1.8B$2.4B$2.0B$1.9B$3.2B
Sales of Machinery, Power & Energy$258.0M$27.0M———$10.0M

Medium-term notes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products Segment$18.6B———$19.7B—

Other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products Segment$219.0M———$343.0M—

Short-Term Borrowings

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products$4.4B$3.5B$4.5B$4.5B$5.5B$4.7B
Machinery, Power & Energy$0.0———$0.0—

Total sales and revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Sales of Machinery, Power & Energy$15.3B$13.4B———$16.5B
Financial Products$883.0M$871.0M$895.0M$912.0M$931.0M$942.0M

Debentures

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Machinery, Power & Energy$1.4B———$1.7B—

Debt instrument

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Machinery, Power & Energy————$1.7B—

Debt instrument, interest rate (as a percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Machinery, Power & Energy————8.3%—

Effective Yield to Maturity (as a percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Machinery, Power & Energy————8.6%—

Finance lease obligations and other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Machinery, Power & Energy-$103.0M———$6.0M—

Notes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Machinery, Power & Energy$753.0M———$753.0M—

Percentage of the redemption price to the principal amount of debentures to be redeemed

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Machinery, Power & Energy————100.0%—

Geographic

Total sales and revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
North
 America$8.2B$7.7B$8.9B$9.7B$10.3B$10.2B
EAME$3.3B$2.5B$3.2B$3.2B$3.9B$3.0B
Asia/
 Pacific$3.0B$2.5B$2.9B$2.9B$3.0B$2.6B
Latin
 America$1.8B$1.5B$1.7B$1.9B$2.0B$1.6B

Property, plant and equipment - net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non Us$5.1B———$5.7B—

Business Segments

Acquisitions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Resource Industries—————$546.0M
Construction Industries—————$0.0
All Other Segment—————$0.0
Power & Energy—————$0.0

CapEx

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power & Energy$319.8M$240.0M———$291.0M
Financial Products$267.0M$170.0M$379.0M$359.0M$433.0M$265.0M
Resource Industries$103.0M$110.0M$67.0M$76.0M$154.0M$125.0M
Construction Industries$144.0M$46.0M$64.0M$86.0M$162.0M$55.0M
All Other Segment$111.0M$36.0M$63.0M$72.0M$87.0M$22.0M

Consolidated profit before tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Construction Industries$1.2B$1.0B$1.2B$1.4B$1.0B$1.5B
Power & Energy$1.4B$1.3B———$1.5B
Resource Industries$471.0M$623.0M$537.0M$499.0M$360.0M$378.0M
Financial Products Segment$166.0M$215.0M$248.0M$241.0M$262.0M$245.0M
All Other Segment$11.0M-$19.0M-$5.0M-$6.0M—-$43.0M

Cost of goods sold

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Construction Industries$4.3B$3.7B$4.5B$4.9B$5.3B$5.1B
Power & Energy$4.9B$3.8B———$4.8B
Resource Industries$2.1B$2.6B$2.2B$2.2B$2.6B$2.9B
Financial Products Segment$0.0$0.0$0.0$0.0$0.0$0.0

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products Segment$186.0M$178.0M$178.0M$178.0M$185.0M$186.0M
Power & Energy$144.5M$116.0M———$146.0M
Resource Industries$60.0M$97.0M$68.0M$65.0M$64.0M$100.0M
Construction Industries$60.0M$63.0M$66.0M$67.0M$70.0M$68.0M
All Other Segment$76.0M$63.0M$60.0M$68.0M$70.0M$68.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Resource Industries$2.9B$3.0B$3.0B$3.0B$3.0B$3.5B
Power & Energy$2.0B———$2.1B$2.0B
Construction Industries$239.0M$245.0M$253.0M$250.0M$242.0M$241.0M
All Other Segment$39.0M$41.0M$42.0M$41.0M$39.0M$38.0M

Goodwill, Impaired, Accumulated Impairment Loss

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Resource Industries$1.2B$1.2B$1.2B$1.2B$2.1B$2.1B
Construction Industries$22.0M$22.0M$22.0M$22.0M$22.0M$22.0M
Power & Energy$925.0M———$925.0M—

Other Adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power & Energy-$5.0M$10.0M$10.0M$10.0M$10.0M-$8.0M
Resource Industries-$34.0M$9.0M$24.0M$2.0M$2.0M$8.0M
Construction Industries-$15.0M$6.0M$8.0M——-$1.0M
All Other Segment-$3.0M$2.0M$1.0M-$1.0M-$2.0M-$1.0M

Other segment reporting items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products Segment$635.0M$597.0M$590.0M$620.0M$618.0M$634.0M
Construction Industries$7.0M-$9.0M$17.0M$37.0M$45.0M$14.0M
Resource Industries$4.0M-$13.0M-$15.0M-$12.0M-$1.0M$12.0M
Power & Energy$20.3M-$30.0M———$3.0M

Segment assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Financial Products Segment$36.9B$37.3B$39.1B$40.0B$41.5B$41.4B
Resource Industries$6.1B$5.4B$5.5B$6.2B$9.0B$9.6B
Power & Energy$11.8B———$8.4B$8.0B
Construction Industries$5.5B$5.6B$5.6B$5.6B$5.4B$6.4B
All Other Segment$1.4B$2.0B$2.0B$1.5B$1.5B$1.5B

SG&A/R&D

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power & Energy$810.3M$691.0M———$731.0M
Resource Industries$398.0M$439.0M$376.0M$379.0M$406.0M$494.0M
Construction Industries$525.0M$451.0M$470.0M$472.0M$509.0M$485.0M
Financial Products Segment$223.0M$195.0M$204.0M$215.0M$215.0M$217.0M

Total sales and revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Construction Industries$6.0B$5.2B$6.2B$6.8B$6.9B$7.2B
Power & Energy$7.2B$5.8B———$7.0B
Resource Industries$3.0B$3.7B$3.1B$3.1B$3.4B$3.8B
Financial Products Segment$1.0B$1.0B$1.0B$1.1B$1.1B$1.1B
All Other Segment$98.0M$70.0M$104.0M$73.0M$99.0M$77.0M