Caterpillar Inc (CAT) stock
CATNYSEConstruction Machinery & EquipFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 4, 2026Score 12/3027% above fair value
$605.28+3.67 (+0.61%)
Close on Nov 12, 2026Market cap $278.23BP/E 23.7Yield 0.98%
Caterpillar gross margin
Gross margin is gross profit as a percentage of revenue.
Caterpillar's gross margin for the twelve months ending Sep 30, 2026 was 34.8%. For fiscal 2025 it was 33.8%, against 38.0% the year before. The highest annual figure on record is 38.0% in fiscal 2024.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 33.8% | −4.2 |
| FY2024 | Dec 31, 2024 | 38.0% | +1.7 |
| FY2023 | Dec 31, 2023 | 36.2% | +5.8 |
| FY2022 | Dec 31, 2022 | 30.4% | +0.1 |
| FY2021 | Dec 31, 2021 | 30.3% | −0.0 |
| FY2020 | Dec 31, 2020 | 30.3% | −1.6 |
| FY2019 | Dec 31, 2019 | 31.9% | −0.5 |
| FY2018 | Dec 31, 2018 | 32.4% | +1.2 |
| FY2017 | Dec 31, 2017 | 31.2% | +4.0 |
| FY2016 | Dec 31, 2016 | 27.2% | −1.4 |
| FY2015 | Dec 31, 2015 | 28.6% | +2.4 |
| FY2014 | Dec 31, 2014 | 26.2% | −0.6 |
| FY2013 | Dec 31, 2013 | 26.8% | −1.7 |
| FY2012 | Dec 31, 2012 | 28.6% | +1.0 |
| FY2011 | Dec 31, 2011 | 27.5% | −1.2 |
| FY2010 | Dec 31, 2010 | 28.7% | +2.4 |
| FY2009 | Dec 31, 2009 | 26.3% | +1.1 |
| FY2008 | Dec 31, 2008 | 25.2% | −2.3 |
| FY2007 | Dec 31, 2007 | 27.4% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 35.5% | +1.7 |
| Q2 FY2026 | Jun 30, 2026 | 37.8% | +3.0 |
| Q1 FY2026 | Mar 31, 2026 | 35.1% | −2.0 |
| Q4 FY2025 | Dec 31, 2025 | 30.5% | −5.9 |
| Q3 FY2025 | Sep 30, 2025 | 33.8% | −3.7 |
| Q2 FY2025 | Jun 30, 2025 | 34.8% | −4.4 |
| Q1 FY2025 | Mar 31, 2025 | 37.1% | −1.8 |
| Q4 FY2024 | Dec 31, 2024 | 36.3% | +0.9 |
| Q3 FY2024 | Sep 30, 2024 | 37.5% | +0.5 |
| Q2 FY2024 | Jun 30, 2024 | 39.2% | +3.1 |
| Q1 FY2024 | Mar 31, 2024 | 38.8% | +2.5 |
| Q4 FY2023 | Dec 31, 2023 | 35.5% | +5.4 |
| Q3 FY2023 | Sep 30, 2023 | 37.0% | +5.1 |
| Q2 FY2023 | Jun 30, 2023 | 36.1% | +6.1 |
| Q1 FY2023 | Mar 31, 2023 | 36.3% | +6.7 |
| Q4 FY2022 | Dec 31, 2022 | 30.0% | +2.5 |
| Q3 FY2022 | Sep 30, 2022 | 32.0% | +1.5 |
| Q2 FY2022 | Jun 30, 2022 | 30.0% | −1.1 |
| Q1 FY2022 | Mar 31, 2022 | 29.7% | −2.9 |
| Q4 FY2021 | Dec 31, 2021 | 27.5% | +2.7 |
| Q3 FY2021 | Sep 30, 2021 | 30.5% | +7.1 |
| Q2 FY2021 | Jun 30, 2021 | 31.1% | +9.1 |
| Q1 FY2021 | Mar 31, 2021 | 32.6% | +7.7 |
| Q4 FY2020 | Dec 31, 2020 | 24.8% | −0.1 |
| Q3 FY2020 | Sep 30, 2020 | 23.4% | −3.3 |
| Q2 FY2020 | Jun 30, 2020 | 22.0% | −3.9 |
| Q1 FY2020 | Mar 31, 2020 | 24.9% | −2.7 |
| Q4 FY2019 | Dec 31, 2019 | 24.9% | −0.5 |
| Q3 FY2019 | Sep 30, 2019 | 26.7% | −1.0 |
| Q2 FY2019 | Jun 30, 2019 | 25.8% | −1.7 |
| Q1 FY2019 | Mar 31, 2019 | 27.6% | −0.2 |
| Q4 FY2018 | Dec 31, 2018 | 25.4% | +0.4 |
| Q3 FY2018 | Sep 30, 2018 | 27.7% | +1.1 |
| Q2 FY2018 | Jun 30, 2018 | 27.5% | +2.6 |
| Q1 FY2018 | Mar 31, 2018 | 27.9% | +4.2 |
| Q4 FY2017 | Dec 31, 2017 | 25.0% | +11.0 |
| Q3 FY2017 | Sep 30, 2017 | 26.6% | – |
| Q2 FY2017 | Jun 30, 2017 | 24.9% | – |
| Q1 FY2017 | Mar 31, 2017 | 23.7% | – |
| Q4 FY2016 | Dec 31, 2016 | 14.0% | – |
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