TTM
$11.7B
YoY change
-14.2%
5Y CAGR
+19.7%
Peak year (FY2024)
$13.1B
Cumulative operating income
$160B
Operating Income history chart for Caterpillar (CAT) from 2016 to 2025
Latest: $11.2B
Operating Income growth chart for Caterpillar (CAT) from 2016 to 2025
Latest: -14.2%
Operating Income history table for Caterpillar (CAT) from 1985 to 2025
| FY2025 | $11.2B | -14.2% | -$1.86B | ||
| FY2024 | $13.1B | +0.8% | +$106M | ||
| FY2023 | $13B | +64.0% | +$5.06B | ||
| FY2022 | $7.9B | +14.9% | +$1.03B | ||
| FY2021 | $6.88B | +51.1% | +$2.33B | ||
| FY2020 | $4.55B | -45.1% | -$3.74B | ||
| FY2019 | $8.29B | -0.0% | -$3M | ||
| FY2018 | $8.29B | +85.9% | +$3.83B | ||
| FY2017 | $4.46B | +283.8% | +$3.3B | ||
| FY2016 | $1.16B | -69.3% | -$2.62B | ||
| FY2015 | $3.79B | +14.2% | +$471M | ||
| FY2014 | $3.31B | -41.1% | -$2.31B | ||
| FY2013 | $5.63B | -34.4% | -$2.95B | ||
| FY2012 | $8.57B | +19.9% | +$1.42B | ||
| FY2011 | $7.15B | +80.5% | +$3.19B | ||
| FY2010 | $3.96B | +586.8% | +$3.39B | ||
| FY2009 | $577M | -87.0% | -$3.87B | ||
| FY2008 | $4.45B | -9.6% | -$473M | ||
| FY2007 | $4.92B | 0.0% | $0.00 | ||
| FY2006 | $4.92B | +30.0% | +$1.14B | ||
| FY2005 | $3.78B | +41.0% | +$1.1B | ||
| FY2004 | $2.68B | +60.7% | +$1.01B | ||
| FY2003 | $1.67B | +26.1% | +$346M | ||
| FY2002 | $1.32B | +1.0% | +$13M | ||
| FY2001 | $1.31B | -45.9% | -$1.11B | ||
| FY2000 | $2.43B | +18.1% | +$371M | ||
| FY1999 | $2.05B | -25.1% | -$688M | ||
| FY1998 | $2.74B | -1.8% | -$49M | ||
| FY1997 | $2.79B | +22.0% | +$504M | ||
| FY1996 | $2.29B | +15.9% | +$313M | ||
| FY1995 | $1.97B | +20.1% | +$330M | ||
| FY1994 | $1.64B | +106.0% | +$846M | ||
| FY1993 | $798M | +2474.2% | +$767M | ||
| FY1992 | $31M | -117.2% | +$211M | ||
| FY1991 | -$180M | -133.2% | -$722M | ||
| FY1990 | $542M | -34.4% | -$284M | ||
| FY1989 | $826M | -17.4% | -$174M | ||
| FY1988 | $1B | +107.5% | +$518M | ||
| FY1987 | $482M | +93.6% | +$233M | ||
| FY1986 | $249M | -17.5% | -$53M | ||
| FY1985 | $302M | — | — |
- FY2025$11.2B-14.2%
- FY2024$13.1B+0.8%
- FY2023$13B+64.0%
- FY2022$7.9B+14.9%
- FY2021$6.88B+51.1%
- FY2020$4.55B-45.1%
- FY2019$8.29B-0.0%
- FY2018$8.29B+85.9%
- FY2017$4.46B+283.8%
- FY2016$1.16B-69.3%
- FY2015$3.79B+14.2%
- FY2014$3.31B-41.1%
- FY2013$5.63B-34.4%
- FY2012$8.57B+19.9%
- FY2011$7.15B+80.5%
- FY2010$3.96B+586.8%
- FY2009$577M-87.0%
- FY2008$4.45B-9.6%
- FY2007$4.92B0.0%
- FY2006$4.92B+30.0%
- FY2005$3.78B+41.0%
- FY2004$2.68B+60.7%
- FY2003$1.67B+26.1%
- FY2002$1.32B+1.0%
- FY2001$1.31B-45.9%
- FY2000$2.43B+18.1%
- FY1999$2.05B-25.1%
- FY1998$2.74B-1.8%
- FY1997$2.79B+22.0%
- FY1996$2.29B+15.9%
- FY1995$1.97B+20.1%
- FY1994$1.64B+106.0%
- FY1993$798M+2474.2%
- FY1992$31M-117.2%
- FY1991-$180M-133.2%
- FY1990$542M-34.4%
- FY1989$826M-17.4%
- FY1988$1B+107.5%
- FY1987$482M+93.6%
- FY1986$249M-17.5%
- FY1985$302M—
Operating Income values are taken from Caterpillar's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Income at Caterpillar (CAT)
According to Caterpillar's latest reported financial statements, the company's current operating income (TTM) is $11.7B. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, Caterpillar (CAT) reported operating income of $11.2B – declined 14.2% year-over-year.
Caterpillar operating income has grown on net over the period, with a +19.7% compound annual growth rate over 2020–2025 (5 years).
Caterpillar operating income declined from $13.1B in 2024 to $11.2B in 2025, a 14.2% drawdown.
$13.1B stands as the all-time-high annual operating income, posted in 2024, against a low of -$180M during 1991.
Caterpillar Operating Income by Year
Caterpillar Operating Income 2025: $11.2B
2025's operating income for Caterpillar came in at $11.2B, declined 14.2% below 2024.
Caterpillar Operating Income 2024: $13.1B
Caterpillar posted operating income of $13.1B in 2024, edged up 0.8% from 2023. This figure represents the highest annual value in the available history.
Caterpillar Operating Income 2023: $13B
In 2023, Caterpillar reported operating income of $13B, surged 64.0% from 2022.
Caterpillar Operating Income 2022: $7.9B
Caterpillar operating income in 2022 was $7.9B, grew 14.9% from 2021.
Caterpillar Operating Income 2021: $6.88B
Caterpillar operating income in 2021 was $6.88B.
See more financial history for Caterpillar (CAT).
Sector peers by Operating Income
Industrials peers of Caterpillar (CAT), ranked by their latest operating income
| $9.84B | |
| $9.3B | |
| $8.77B | |
| $8.42B | |
| $7.73B | |
| $5.23B | |
| -$2.59B | |
| -$5.42B |
- $9.84B
- $9.3B
- $8.77B
- $8.42B
- $7.73B
- $5.23B
- -$2.59B
- -$5.42B
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