Caterpillar Financial Ratios
NYSE: CATIndustrialsConstruction/Ag Equipment/TrucksUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Caterpillar ratio analysis
Caterpillar earned a net margin of 13.1% in FY 2025, down from 16.6% a year earlier. Gross margin was 33.8% compared with a median of 31.2% over the prior 9 years. Return on equity reached 41.7%, meaning Caterpillar generated 0.42 dollars of profit for every dollar of shareholders' equity.
Debt-to-equity stood at 1.70 versus 1.63 the year before, and the current ratio was 1.44. At the end of FY 2025, CAT traded at 31.8 times earnings; across the 9 fiscal years shown, its year-end P/E ranged from 12.5 to 125.1, with a median of 17.5. Valuation ratios use the closing share price on each fiscal year-end date and diluted shares from the income statement; profitability and leverage ratios use reported annual figures. Current valuation multiples are on the statistics page.
Summary generated from market data by MetaCap's automated system. Methodology
Caterpillar financial ratios (annual)
| Ratio | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E ratio (at fiscal year end) | 31.81 | 16.50 | 14.70 | 18.95 | 17.48 | 33.34 | 13.82 | 12.49 | 125.06 | — |
| Price / sales | 4.16 | 2.73 | 2.25 | 2.12 | 2.21 | 2.37 | 1.55 | 1.38 | 2.05 | 1.41 |
| Price / book | 13.19 | 9.08 | 7.74 | 7.94 | 6.81 | 6.44 | 5.70 | 5.38 | 6.77 | 4.10 |
| Gross margin | 33.8% | 38.0% | 36.2% | 30.4% | 30.3% | 30.3% | 31.9% | 32.4% | 31.2% | 27.2% |
| Operating margin | 16.5% | 20.2% | 19.3% | 13.3% | 13.5% | 10.9% | 15.4% | 15.2% | 9.8% | 3.0% |
| Net margin | 13.1% | 16.6% | 15.4% | 11.3% | 12.7% | 7.2% | 11.3% | 11.2% | 1.7% | -0.2% |
| Free cash flow margin | 13.2% | 15.5% | 16.8% | 10.9% | 12.0% | 12.8% | 10.9% | 9.7% | 10.6% | 11.8% |
| Return on equity (ROE) | 41.7% | 55.3% | 53.0% | 42.2% | 39.3% | 19.5% | 41.7% | 43.7% | 5.5% | -0.4% |
| Return on assets (ROA) | 9.0% | 12.3% | 11.8% | 8.2% | 7.8% | 3.8% | 7.8% | 7.8% | 1.0% | -0.1% |
| Debt / equity | 1.70 | 1.63 | 1.49 | 1.99 | 1.90 | 1.82 | 2.15 | 2.18 | 2.08 | 2.28 |
| Current ratio | 1.44 | 1.42 | 1.35 | 1.39 | 1.46 | 1.53 | 1.47 | 1.37 | 1.35 | 1.22 |
| Revenue growth | 4.3% | -3.4% | 12.8% | 16.6% | 22.1% | -22.4% | -1.7% | 20.4% | 18.0% | -18.0% |
| EPS growth | -14.7% | 9.6% | 59.2% | 6.8% | 116.7% | -49.2% | 4.7% | 714.3% | — | -102.6% |