Caterpillar Inc (CAT) Operating Margin (2009 - 2026)

Caterpillar (CAT) has reported Operating Margin for 18 consecutive years, with 17.71% the latest figure, recorded in Q1 2026.

• In Q1 2026, Operating Margin fell 38.0% year-over-year to 17.71%; the TTM figure through Mar 2026 stood at 16.48% (down 270.0% YoY), while the FY2025 annual figure was 16.5%, down 367.0% from the prior year.
• Operating Margin came in at 17.71% for Q1 2026 at Caterpillar, up from 13.9% in the prior quarter.
• The five-year high for Operating Margin was 22.27% in Q1 2024, with the low at 10.12% in Q4 2022.
• Average Operating Margin over 5 years is 17.4%, with a median of 17.71% recorded in 2026.
• Across the five-year window, Operating Margin soared 824 bps in 2023 and plunged 417 bps in 2025, its largest moves.
• Year by year, Operating Margin stood at 10.12% in 2022, then jumped by 81 bps to 18.36% in 2023, then dropped by 2 bps to 18.03% in 2024, then slipped by 23 bps to 13.9% in 2025, then grew by 27 bps to 17.71% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 17.71%, 13.9%, and 17.3% for Q1 2026, Q4 2025, and Q3 2025 respectively.