Caterpillar (CAT) Shares Outstanding (Diluted) (2009 - 2026)
Caterpillar (CAT) posted Weighted Average Shares Outstanding (Diluted) of 462.5 million for Q2 2026, down 1.9% from 471.5 million a year earlier and down 0.7% from the prior quarter.
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Analysis
Caterpillar (CAT) Shares Outstanding (Diluted) (2009 - 2026) Analysis & Trends
For FY2025, Caterpillar's Weighted Average Shares Outstanding (Diluted) came in at 472.3 million, down 3.5% from FY2024.
- Annual Weighted Average Shares Outstanding (Diluted) has declined for four consecutive years, with a five-year compound annual growth rate of -3.0% (FY2020 to FY2025).
- In prior years, Caterpillar's Weighted Average Shares Outstanding (Diluted) was 489.4 million in FY2024 (-4.7%), 513.6 million in FY2023 (-3.2%), 530.4 million in FY2022 (-3.3%) and 548.5 million in FY2021 (unchanged).
- The Q2 2026 figure stands as the lowest quarterly Weighted Average Shares Outstanding (Diluted) in data going back to Q1 2009.
- On a year-over-year basis, Weighted Average Shares Outstanding (Diluted) has declined in each of the last 18 quarters, with an average decline of 3.6% over the last eight quarters.
- The strongest year-over-year quarter for Weighted Average Shares Outstanding (Diluted) in the past five years was Q3 2021, with growth of 0.2%; the weakest was Q3 2024, with a decline of 5.1%.
- According to Business Quant data, Weighted Average Shares Outstanding (Diluted) for the three prior quarters was 465.8 million (Q1 2026), 472.3 million (Q4 2025) and 470.8 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 282.34 Bn | 282.34 Bn | - | 462.50 Mn |
| 2 | Amphenol | 196.37 Bn | 189.89 Bn | 4.02 Bn | 2.58 Bn |
| 3 | Deere | 180.40 Bn | 148.49 Bn | 4.66 Bn | 270.70 Mn |
| 4 | Eaton | 142.03 Bn | 139.22 Bn | 2.86 Bn | 389.50 Mn |
| 5 | Parker-Hannifin | 117.42 Bn | 115.55 Bn | 2.25 Bn | 128.10 Mn |
| 6 | Emerson Electric | 93.00 Bn | 85.73 Bn | 2.66 Bn | 561.10 Mn |
| 7 | 3M | 92.98 Bn | 74.42 Bn | 2.78 Bn | 522.60 Mn |
| 8 | Vertiv Holdings | 86.47 Bn | 75.32 Bn | 1.64 Bn | 392.68 Mn |
| 9 | Illinois Tool Works | 82.63 Bn | 79.31 Bn | 1.91 Bn | 285.30 Mn |
| 10 | Cummins | 69.15 Bn | 65.22 Bn | 2.47 Bn | 138.50 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 462.50 Mn |
| Jun 30, 2026 | 462.50 Mn |
| Mar 31, 2026 | 465.80 Mn |
| Dec 31, 2025 | 472.30 Mn |
| Sep 30, 2025 | 470.80 Mn |
| Jun 30, 2025 | 471.50 Mn |
| Mar 31, 2025 | 477.10 Mn |
| Dec 31, 2024 | 489.40 Mn |
| Sep 30, 2024 | 486.70 Mn |
| Jun 30, 2024 | 489.50 Mn |
| Mar 31, 2024 | 496.90 Mn |
| Dec 31, 2023 | 513.60 Mn |
| Sep 30, 2023 | 512.60 Mn |
| Jun 30, 2023 | 515.00 Mn |
| Mar 31, 2023 | 519.40 Mn |
| Dec 31, 2022 | 530.40 Mn |
| Sep 30, 2022 | 527.60 Mn |
| Jun 30, 2022 | 534.10 Mn |
| Mar 31, 2022 | 538.30 Mn |
| Dec 31, 2021 | 548.50 Mn |
API Access
Caterpillar Shares Outstanding (Diluted) 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=shares-outstanding-diluted&ticker=CAT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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=shares-outstanding-diluted&ticker=CAT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();