Caterpillar (CAT) Gross Margin (2009 - 2026)
Caterpillar (CAT) posted Gross Margin of 37.78% for Q2 2026, up 7.71% on a QoQ basis from 35.08% in Q1 2026, and up 301.0% year-over-year from 9.42% in Q2 2025.
Powered by 
Analysis
Caterpillar (CAT) Gross Margin (2009 - 2026) Analysis & Trends
Caterpillar has reported Gross Margin for 18 years, with the latest figure at 37.78% in Q2 2026.
- On a quarterly basis, Gross Margin rose 301.0% year-over-year to 37.78% in Q2 2026; TTM through Jun 2026 was 34.34%, a 206.0% decrease from a year earlier, with the FY2025 full-year figure at 33.79%, down 419.0% from the prior year.
- Gross Margin was 37.78% for Q2 2026 at Caterpillar, up from 35.08% in the prior quarter.
- The five-year high for Gross Margin was 39.18% in Q2 2024, with the low at 29.66% in Q1 2022.
- Average Gross Margin over 5 years is 34.86%, with a median of 35.79% recorded in 2023.
- The sharpest annual moves came in 2023 and 2025: Gross Margin jumped 665 bps in 2023, then sank 590 bps in 2025.
- Over 5 years, Gross Margin stood at 30.02% in 2022, then advanced by 18 bps to 35.47% in 2023, then climbed by 2 bps to 36.35% in 2024, then declined by 16 bps to 30.45% in 2025, then gained by 24 bps to 37.78% in 2026.
- The last three Gross Margin figures came in at 37.78% (Q2 2026), 35.08% (Q1 2026), and 30.45% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 371.58 Bn | 364.86 Bn | 7.76 Bn | 37.78% |
| 2 | Amphenol | 204.28 Bn | 198.29 Bn | 3.55 Bn | 40.51% |
| 3 | Deere | 189.58 Bn | 180.70 Bn | 12.32 Bn | 97.70% |
| 4 | Eaton | 171.87 Bn | 171.22 Bn | 2.86 Bn | 33.47% |
| 5 | Parker-Hannifin | 121.60 Bn | 121.11 Bn | 2.25 Bn | 39.04% |
| 6 | Vertiv Holdings | 97.62 Bn | 94.51 Bn | 1.23 Bn | 37.71% |
| 7 | 3M | 87.32 Bn | 84.04 Bn | 2.68 Bn | 41.28% |
| 8 | Emerson Electric | 86.05 Bn | 83.88 Bn | 2.66 Bn | 54.48% |
| 9 | Illinois Tool Works | 77.02 Bn | 76.18 Bn | 1.90 Bn | 44.13% |
| 10 | Cummins | 72.43 Bn | 68.82 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();