Caterpillar (CAT) Debt Ratio (2009 - 2026)

Caterpillar (CAT) posted Debt Ratio of 0.34 for Q2 2026, down 0.85% on a QoQ basis from 0.34 in Q1 2026, and up 0.89% year-over-year from 0.33 in Q2 2025.

Analysis

Caterpillar (CAT) Debt Ratio (2009 - 2026) Analysis & Trends

Caterpillar has reported Debt Ratio for 18 years, with the latest figure at 0.34 in Q2 2026.

On a quarterly basis, Debt Ratio rose 0.89% year-over-year to 0.34 in Q2 2026; TTM through Jun 2026 was 0.34, a 0.89% increase from a year earlier, with the FY2025 full-year figure at 0.42, up 2.79% from the prior year.
Debt Ratio was 0.34 for Q2 2026 at Caterpillar, down from 0.34 in the prior quarter.
The five-year high for Debt Ratio was 0.46 in Q4 2022, with the low at 0.32 in Q3 2023.
Average Debt Ratio over 5 years is 0.35, with a median of 0.34 recorded in 2022.
The sharpest annual moves came in 2023 and 2024: Debt Ratio decreased 15.96% in 2023, then advanced 6.7% in 2024.
Over 5 years, Debt Ratio stood at 0.46 in 2022, then fell by 15.96% to 0.39 in 2023, then grew by 6.7% to 0.41 in 2024, then climbed by 2.79% to 0.42 in 2025, then decreased by 20.66% to 0.34 in 2026.
The last three Debt Ratio figures came in at 0.34 (Q2 2026), 0.34 (Q1 2026), and 0.42 (Q4 2025), per Business Quant data.

Peer Set

Peer Comparison

All peers

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Debt Ratio (Qtr)
1	Caterpillar	371.58 Bn	364.86 Bn	7.76 Bn	0.34
2	Amphenol	204.28 Bn	198.29 Bn	3.55 Bn	0.42
3	Deere	189.58 Bn	180.70 Bn	12.32 Bn	0.22
4	Eaton	171.87 Bn	171.22 Bn	2.86 Bn	0.40
5	Parker-Hannifin	121.60 Bn	121.11 Bn	2.25 Bn	0.30
6	Vertiv Holdings	97.62 Bn	94.51 Bn	1.23 Bn	0.18
7	3M	87.32 Bn	84.04 Bn	2.68 Bn	0.36
8	Emerson Electric	86.05 Bn	83.88 Bn	2.66 Bn	0.31
9	Illinois Tool Works	77.02 Bn	76.18 Bn	1.90 Bn	0.59
10	Cummins	72.43 Bn	68.82 Bn	2.47 Bn	0.21

Historic Data

Download Data

Date	Value
Jun 30, 2026	0.34
Mar 31, 2026	0.34
Dec 31, 2025	0.42
Sep 30, 2025	0.33
Jun 30, 2025	0.33
Mar 31, 2025	0.35
Dec 31, 2024	0.41
Sep 30, 2024	0.34
Jun 30, 2024	0.34
Mar 31, 2024	0.34
Dec 31, 2023	0.39
Sep 30, 2023	0.32
Jun 30, 2023	0.33
Mar 31, 2023	0.33
Dec 31, 2022	0.46
Sep 30, 2022	0.33
Jun 30, 2022	0.34
Mar 31, 2022	0.34
Dec 31, 2021	0.44
Sep 30, 2021	0.33

API Access

Caterpillar Debt Ratio API

Pull this series into your own models, spreadsheets and apps with the Business Quant Historical Metrics API. The request below matches the chart above — change the frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.

https://data.businessquant.com/historic?slug=debt-ratio&ticker=CAT&period=max&api_key=YOUR_API_KEY

import requests

url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "CAT", "period": "max", "api_key": "YOUR_API_KEY"}

data = requests.get(url, params=params).json()

const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=CAT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();

API documentation

Caterpillar (CAT) Debt Ratio (2009 - 2026)