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
$600.20−5.08 (-0.84%)
Close on Nov 13, 2026Market cap $275.90BP/E 23.5Yield 0.99%
Caterpillar r&d expenses
Research and development expenses are spending on new products and technology.
Caterpillar's R&D Expenses for the twelve months ending Sep 30, 2026 was $2.31B, up 9.8% year over year. For fiscal 2025 it was $2.15B, up 1.9% from the year before. Over ten years it grew 0.1% a year on average. The highest annual figure on record is $2.47B in fiscal 2012.
Annual r&d expenses
| Period | Period end | Value | Change |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $2.15B | +1.9% |
| FY2024 | Dec 31, 2024 | $2.11B | -0.0% |
| FY2023 | Dec 31, 2023 | $2.11B | +16.2% |
| FY2022 | Dec 31, 2022 | $1.81B | +7.6% |
| FY2021 | Dec 31, 2021 | $1.69B | +19.2% |
| FY2020 | Dec 31, 2020 | $1.42B | -16.4% |
| FY2019 | Dec 31, 2019 | $1.69B | -8.5% |
| FY2018 | Dec 31, 2018 | $1.85B | +0.4% |
| FY2017 | Dec 31, 2017 | $1.84B | -0.6% |
| FY2016 | Dec 31, 2016 | $1.85B | -12.6% |
| FY2015 | Dec 31, 2015 | $2.12B | -11.0% |
| FY2014 | Dec 31, 2014 | $2.38B | +16.3% |
| FY2013 | Dec 31, 2013 | $2.05B | -17.0% |
| FY2012 | Dec 31, 2012 | $2.47B | +7.4% |
| FY2011 | Dec 31, 2011 | $2.30B | +20.6% |
| FY2010 | Dec 31, 2010 | $1.91B | +34.1% |
| FY2009 | Dec 31, 2009 | $1.42B | -17.8% |
| FY2008 | Dec 31, 2008 | $1.73B | +23.1% |
| FY2007 | Dec 31, 2007 | $1.40B | – |
Quarterly r&d expenses
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | $596.00M | +7.4% |
| Q2 FY2026 | Jun 30, 2026 | $616.00M | +11.8% |
| Q1 FY2026 | Mar 31, 2026 | $537.00M | +11.9% |
| Q4 FY2025 | Dec 31, 2025 | $562.00M | +8.3% |
| Q3 FY2025 | Sep 30, 2025 | $555.00M | +4.1% |
| Q2 FY2025 | Jun 30, 2025 | $551.00M | +3.0% |
| Q1 FY2025 | Mar 31, 2025 | $480.00M | -7.7% |
| Q4 FY2024 | Dec 31, 2024 | $519.00M | -6.3% |
| Q3 FY2024 | Sep 30, 2024 | $533.00M | -3.8% |
| Q2 FY2024 | Jun 30, 2024 | $535.00M | +1.3% |
| Q1 FY2024 | Mar 31, 2024 | $520.00M | +10.2% |
| Q4 FY2023 | Dec 31, 2023 | $554.00M | +38.2% |
| Q3 FY2023 | Sep 30, 2023 | $554.00M | +16.4% |
| Q2 FY2023 | Jun 30, 2023 | $528.00M | +10.0% |
| Q1 FY2023 | Mar 31, 2023 | $472.00M | +3.3% |
| Q4 FY2022 | Dec 31, 2022 | $401.00M | -8.7% |
| Q3 FY2022 | Sep 30, 2022 | $476.00M | +11.5% |
| Q2 FY2022 | Jun 30, 2022 | $480.00M | +7.6% |
| Q1 FY2022 | Mar 31, 2022 | $457.00M | +22.2% |
| Q4 FY2021 | Dec 31, 2021 | $439.00M | +17.4% |
| Q3 FY2021 | Sep 30, 2021 | $427.00M | +24.1% |
| Q2 FY2021 | Jun 30, 2021 | $446.00M | +30.8% |
| Q1 FY2021 | Mar 31, 2021 | $374.00M | +5.1% |
| Q4 FY2020 | Dec 31, 2020 | $374.00M | -3.1% |
| Q3 FY2020 | Sep 30, 2020 | $344.00M | -20.2% |
| Q2 FY2020 | Jun 30, 2020 | $341.00M | -22.7% |
| Q1 FY2020 | Mar 31, 2020 | $356.00M | -18.2% |
| Q4 FY2019 | Dec 31, 2019 | $386.00M | -17.2% |
| Q3 FY2019 | Sep 30, 2019 | $431.00M | -10.0% |
| Q2 FY2019 | Jun 30, 2019 | $441.00M | -4.5% |
| Q1 FY2019 | Mar 31, 2019 | $435.00M | -1.8% |
| Q4 FY2018 | Dec 31, 2018 | $466.00M | -6.4% |
| Q3 FY2018 | Sep 30, 2018 | $479.00M | +3.9% |
| Q2 FY2018 | Jun 30, 2018 | $462.00M | +0.9% |
| Q1 FY2018 | Mar 31, 2018 | $443.00M | +4.2% |
| Q4 FY2017 | Dec 31, 2017 | $498.00M | +17.5% |
| Q3 FY2017 | Sep 30, 2017 | $461.00M | – |
| Q2 FY2017 | Jun 30, 2017 | $458.00M | – |
| Q1 FY2017 | Mar 31, 2017 | $425.00M | – |
| Q4 FY2016 | Dec 31, 2016 | $424.00M | – |
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