Stock Analysis on Net

Caterpillar Inc. (NYSE:CAT)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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Caterpillar Inc., common-size consolidated balance sheet: assets (quarterly data)

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Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents
Receivables, trade and other
Receivables, finance
Prepaid expenses and other current assets
Inventories
Current assets
Property, plant and equipment, net
Long-term receivables, trade and other
Long-term receivables, finance
Noncurrent deferred and refundable income taxes
Intangible assets
Goodwill
Other assets
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets showed notable fluctuation. Beginning at 9.39% in early 2020, it increased to a peak of 14.05% in the first quarter of 2021. Subsequently, it decreased significantly throughout 2022 and into 2023, reaching a low point of 4.19% in the first quarter of 2025, with some recovery to 6.02% by the second quarter of 2025.
Receivables, Trade and Other
This item remained relatively stable, varying between roughly 9.08% and 11.10% of total assets over the observed periods. There was a slight upward trend starting in 2022, maintaining levels around 10.5% to 11.0%, indicating a consistent level of trade receivables in the asset base.
Receivables, Finance
The percentage of finance receivables showed a minor decline from 12.02% in the first quarter of 2020 to near 11% through much of 2022 and 2023. It exhibited mild variability but generally stabilized in the 10.9% to 11.4% range thereafter, suggesting steady financing receivable levels.
Prepaid Expenses and Other Current Assets
This category showed a gradual increase from approximately 2.32% in early 2020, peaking around 5.92% in the third quarter of 2023, before moderating back down to roughly 3.17% by mid-2025. This suggests a temporary buildup followed by normalization in prepaid and other current assets.
Inventories
Inventories as a percentage of total assets demonstrated a clear upward trend from 15.48% in early 2020 to highs exceeding 21% in several quarters of 2023 and 2025, peaking at 21.08% in the first quarter of 2023 and 21.02% in the first quarter of 2025. This steady increase indicates a growing investment in inventory over time.
Current Assets
Current assets collectively accounted for about half of total assets throughout the period, increasing from around 49.52% in the first quarter of 2020 to a peak near 55.31% in the third quarter of 2023. The values then slightly declined but remained above 50%, demonstrating a relatively steady current asset base with some growth concentration in recent years.
Property, Plant and Equipment, Net
This asset category showed a mild decline from 16.45% at the start of 2020 to about 14.16%-14.50% range during 2021 and 2022. Subsequently, it experienced a gradual recovery to over 15% by late 2024 and into 2025, suggesting reinvestment or asset appreciation.
Long-Term Receivables, Trade and Other
Long-term trade and other receivables remained low but stable, fluctuating modestly between 1.28% and 1.78% across all quarters. There was no significant upward or downward trend observed in this category.
Long-Term Receivables, Finance
This asset component started at 15.84% in early 2020, declined slightly to roughly 14.16%–14.48% during 2022-2023, and then showed a rebound to over 15% in 2024 and 2025, peaking at 15.83% in the first quarter of 2025. This pattern indicates some reduction followed by recovery in long-term financing receivables.
Noncurrent Deferred and Refundable Income Taxes
Noncurrent deferred and refundable income taxes steadily increased from 1.88% in early 2020 to 3.92% by mid-2025, showing a continuous and gradual rise throughout the entire period.
Intangible Assets
Intangible assets as a percentage of total assets consistently declined, dropping from 1.95% in early 2020 to a low of 0.36% by mid-2025. This reflects a steady amortization, impairment, or reclassification of intangible assets over the years.
Goodwill
Goodwill hovered near 8% in early 2020 but exhibited a slow declining trend thereafter, reaching approximately 5.9% by mid-2025. This pattern suggests some impairment or write-downs affecting goodwill.
Other Assets
Other assets gradually increased from 4.69% to roughly 6% by mid-2025, indicating a modest growth in miscellaneous asset components.
Noncurrent Assets
Noncurrent assets accounted for about half of total assets, showing a slight decline from approximately 50.5% in 2020 to a low of around 44.7% in 2023, followed by a rebound to nearly 49.4% by the first quarter of 2025. This demonstrates fluctuations but a generally substantial share of total assets being noncurrent.