Caterpillar (CAT) Operating Income (2009 - 2026)
Caterpillar's Operating Income came in at $4.3 billion for Q2 2026, up 50.2% from $2.86 billion a year earlier and up 39.2% from the prior quarter.
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Analysis
Caterpillar (CAT) Operating Income (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Caterpillar reported Operating Income of $13.09 billion, up 13.7% year-over-year; for FY2025, it came in at $11.15 billion, down 14.7% from FY2024.
- Operating Income carries a five-year compound annual growth rate of 19.6% (FY2020 to FY2025).
- Going back by year, Operating Income was $13.07 billion in FY2024 (+0.8%), $12.97 billion in FY2023 (+64.0%), $7.9 billion in FY2022 (+14.9%) and $6.88 billion in FY2021 (+51.1%).
- The Q2 2026 figure represents the highest quarterly Operating Income in data going back to Q1 2009.
- Year-over-year, Operating Income increased in two of the last eight quarters, with an average decline of 0.3%.
- The fastest year-over-year change in Operating Income over five years came in Q2 2023 (growth of 87.9%), and the weakest in Q1 2025 (a decline of 26.7%).
- Business Quant data shows CAT's Operating Income at $3.09 billion (Q1 2026), $2.66 billion (Q4 2025) and $3.05 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 349.42 Bn | 321.12 Bn | 7.76 Bn | 4.30 Bn |
| 2 | Amphenol | 207.97 Bn | 202.56 Bn | 3.55 Bn | 2.58 Bn |
| 3 | Deere | 173.37 Bn | 141.46 Bn | 4.66 Bn | 1.86 Bn |
| 4 | Eaton | 164.58 Bn | 161.76 Bn | 2.86 Bn | 1.39 Bn |
| 5 | Parker-Hannifin | 120.00 Bn | 118.13 Bn | 2.25 Bn | 1.37 Bn |
| 6 | Emerson Electric | 90.08 Bn | 82.82 Bn | 2.66 Bn | 1.31 Bn |
| 7 | Vertiv Holdings | 89.97 Bn | 80.59 Bn | 1.23 Bn | 637.90 Mn |
| 8 | 3M | 83.70 Bn | 65.10 Bn | 2.68 Bn | 984.00 Mn |
| 9 | Illinois Tool Works | 75.54 Bn | 72.10 Bn | 1.90 Bn | 1.15 Bn |
| 10 | Cummins | 72.18 Bn | 68.25 Bn | 2.47 Bn | 1.28 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.30 Bn |
| Mar 31, 2026 | 3.09 Bn |
| Dec 31, 2025 | 2.66 Bn |
| Sep 30, 2025 | 3.05 Bn |
| Jun 30, 2025 | 2.86 Bn |
| Mar 31, 2025 | 2.58 Bn |
| Dec 31, 2024 | 2.92 Bn |
| Sep 30, 2024 | 3.15 Bn |
| Jun 30, 2024 | 3.48 Bn |
| Mar 31, 2024 | 3.52 Bn |
| Dec 31, 2023 | 3.13 Bn |
| Sep 30, 2023 | 3.45 Bn |
| Jun 30, 2023 | 3.65 Bn |
| Mar 31, 2023 | 2.73 Bn |
| Dec 31, 2022 | 1.68 Bn |
| Sep 30, 2022 | 2.43 Bn |
| Jun 30, 2022 | 1.94 Bn |
| Mar 31, 2022 | 1.86 Bn |
| Dec 31, 2021 | 1.61 Bn |
| Sep 30, 2021 | 1.66 Bn |
API Access
Caterpillar Operating Income 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=operating-income&ticker=CAT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-income", "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=operating-income&ticker=CAT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();