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Caterpillar CAT Subscription Revenue

Subscription Revenue at other companies

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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:SalesTypeLeaseRevenue.

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 subscription revenue?
Caterpillar (CAT) reported subscription revenue of $118.25M in Q4 2025.
How has Caterpillar's subscription revenue changed year-over-year?
Caterpillar's subscription revenue increased by 7.5% year-over-year, from $110M to $118.25M.
What is the long-term trend for Caterpillar's subscription revenue?
Over 4 years (2021 to 2025), Caterpillar's subscription revenue has grown at a -0.6% compound annual growth rate (CAGR), from $485M to $473M.
What does subscription revenue mean?
Revenue derived from recurring service contracts, software-as-a-service (SaaS) offerings, or digital monitoring solutions provided to customers. This metric tracks the shift toward high-margin, predictable recurring revenue streams.