Caterpillar (CAT) Gross Margin (2009 - 2026)
Caterpillar (CAT) posted quarterly Gross Margin of 35.08% for Q1 2026, down 200.0% year-over-year from 35.08% in Q1 2025, and up 15.2% quarter-over-quarter from 30.45% in Q4 2025.
Caterpillar (CAT) Gross Margin (2009 - 2026) Analysis & Trends
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 for Q1 2026 stood at 35.08%, up from 30.45% 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.
- The 5-year median for Gross Margin is 35.47% (2023), against an average of 34.68%.
- The sharpest annual moves came in 2023 and 2025: Gross Margin surged 665 bps in 2023, then sank 590 bps in 2025.
- Caterpillar's Gross Margin stood at 30.02% in 2022, then rose by 18 bps to 35.47% in 2023, then gained by 2 bps to 36.35% in 2024, then slipped by 16 bps to 30.45% in 2025, then grew by 15 bps to 35.08% in 2026.
- Business Quant data shows CAT's Gross Margin at 35.08% in Q1 2026, 30.45% in Q4 2025, and 33.82% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 389.42 Bn | 382.70 Bn | 7.76 Bn | 37.78% |
| 2 | Deere | 166.65 Bn | 158.74 Bn | 13.06 Bn | 97.71% |
| 3 | Paccar | 70.04 Bn | 61.38 Bn | 1.56 Bn | 20.64% |
| 4 | CNH Industrial | 13.18 Bn | 11.31 Bn | 1.41 Bn | 29.29% |
| 5 | Oshkosh | 9.74 Bn | 9.34 Bn | 480.30 Mn | 16.48% |
| 6 | Terex | 7.70 Bn | 7.30 Bn | 444.00 Mn | 19.84% |
| 7 | Agco | 7.19 Bn | 6.62 Bn | 645.90 Mn | 24.75% |
| 8 | Blue Bird | 2.25 Bn | 2.14 Bn | 103.37 Mn | 19.99% |
| 9 | Alamo | 2.04 Bn | 1.85 Bn | 110.86 Mn | 24.59% |
| 10 | Lindsay | 1.18 Bn | 1.03 Bn | 47.83 Mn | 30.49% |
Historic Data
Download 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% |