Caterpillar (CAT) Gross Margin (2009 - 2026)

Caterpillar's Gross Margin history runs 18 years deep, the most recent figure standing at 35.08% for Q1 2026.

• In Q1 2026, Gross Margin fell 200.0% year-over-year to 35.08%; the TTM figure through Mar 2026 stood at 33.44% (down 411.0% YoY), while the FY2025 annual figure was 33.79%, down 419.0% from the prior year.
• Gross Margin was 35.08% for Q1 2026 at Caterpillar, up from 30.45% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 39.18% in Q2 2024 to a low of 29.66% in Q1 2022.
• Historically, Gross Margin has averaged 34.68% across 5 years, with a median of 35.47% in 2023.
• The sharpest annual moves came in 2023 and 2025: Gross Margin soared 665 bps in 2023, then slumped 590 bps in 2025.
• A 5-year view of Gross Margin shows it stood at 30.02% in 2022, then gained by 18 bps to 35.47% in 2023, then advanced by 2 bps to 36.35% in 2024, then dropped by 16 bps to 30.45% in 2025, then increased by 15 bps to 35.08% in 2026.
• The last three Gross Margin figures came in at 35.08% (Q1 2026), 30.45% (Q4 2025), and 33.82% (Q3 2025), per Business Quant data.