Caterpillar (CAT) Gross Margin (2009 - 2026)
Caterpillar (CAT) recorded Gross Margin of 37.78% in Q2 2026, up 3.01 percentage points from 34.78% a year earlier and up 2.71 percentage points from the prior quarter.
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Analysis
Caterpillar (CAT) Gross Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Caterpillar's Gross Margin came in at 34.34% as of Jun 30, 2026, down 2.06 percentage points year-over-year; for FY2025, it was 33.79%, down 4.19 percentage points from FY2024.
- Annual Gross Margin has a five-year change of +3.45 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at 37.97% in FY2024 (+1.75 pp), 36.23% in FY2023 (+5.81 pp), 30.42% in FY2022 (+0.09 pp) and 30.33% in FY2021 (-0.01 pp).
- The Q2 2026 figure is the highest quarterly Gross Margin since Q2 2024.
- On a year-over-year basis, Gross Margin rose in three of the last eight quarters, with an average year-over-year change of -1.68 percentage points.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 6.65 percentage points in Q1 2023, against a drop of 5.90 percentage points in Q4 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 35.08% (Q1 2026), 30.45% (Q4 2025) and 33.82% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 282.34 Bn | 282.34 Bn | - | - |
| 2 | Amphenol | 196.37 Bn | 189.89 Bn | 4.02 Bn | - |
| 3 | Deere | 180.40 Bn | 148.49 Bn | 4.66 Bn | 36.94% |
| 4 | Eaton | 142.03 Bn | 139.22 Bn | 2.86 Bn | 33.47% |
| 5 | Parker-Hannifin | 117.42 Bn | 115.55 Bn | 2.25 Bn | 39.04% |
| 6 | Emerson Electric | 93.00 Bn | 85.73 Bn | 2.66 Bn | 54.48% |
| 7 | 3M | 92.98 Bn | 74.42 Bn | 2.78 Bn | 42.27% |
| 8 | Vertiv Holdings | 86.47 Bn | 75.32 Bn | 1.64 Bn | 38.11% |
| 9 | Illinois Tool Works | 82.63 Bn | 79.31 Bn | 1.91 Bn | 45.09% |
| 10 | Cummins | 69.15 Bn | 65.22 Bn | 2.47 Bn | 26.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 37.78% |
| Mar 31, 2026 | 35.08% |
| Dec 31, 2025 | 30.45% |
| Sep 30, 2025 | 33.82% |
| Jun 30, 2025 | 34.78% |
| Mar 31, 2025 | 37.08% |
| Dec 31, 2024 | 36.35% |
| Sep 30, 2024 | 37.50% |
| Jun 30, 2024 | 39.18% |
| Mar 31, 2024 | 38.84% |
| Dec 31, 2023 | 35.47% |
| Sep 30, 2023 | 37.04% |
| Jun 30, 2023 | 36.11% |
| Mar 31, 2023 | 36.31% |
| Dec 31, 2022 | 30.02% |
| Sep 30, 2022 | 31.96% |
| Jun 30, 2022 | 29.99% |
| Mar 31, 2022 | 29.66% |
| Dec 31, 2021 | 27.50% |
| Sep 30, 2021 | 30.49% |
API Access
Caterpillar Gross Margin 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=gross-margin&ticker=CAT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=CAT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();