Stock Analysis on Net

Caterpillar Inc. (NYSE:CAT)

$24.99

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Caterpillar Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2025 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
Machinery, Energy & Transportation
Financial Products
Short-term borrowings
Accounts payable
Accrued expenses
Accrued wages, salaries and employee benefits
Customer advances
Dividends payable
Other current liabilities
Machinery, Energy & Transportation
Financial Products
Long-term debt due within one year
Current liabilities
Machinery, Energy & Transportation
Financial Products
Long-term debt due after one year
Liability for postemployment benefits
Other liabilities
Noncurrent liabilities
Total liabilities
Common stock of $1.00 par value, at paid-in amount
Treasury stock, at cost
Profit employed in the business
Accumulated other comprehensive loss
Shareholders’ equity attributable to common shareholders
Noncontrolling interests
Total shareholders’ equity
Total liabilities and shareholders’ equity

Based on: 10-Q (reporting date: 2025-09-30), 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).


Current liabilities
Current liabilities as a percentage of total liabilities and shareholders’ equity exhibited a fluctuating trend, generally increasing from around 33% in early 2020 to peaks above 41% in mid-2023, before stabilizing in the high 30s towards late 2025. This reflects variability in short-term obligations over the examined periods.
Accounts payable and accrued expenses
Accounts payable showed sustained growth from 7.6% in Q1 2020 to peaks near 10.7% in early 2023, followed by a slight decline but maintaining a level close to 9-10% thereafter. Accrued expenses remained relatively stable around 4.5% to just under 6%, with a mild upward trajectory in recent quarters, indicating consistent operational payables and expense accrual.
Accrued wages, salaries, and employee benefits
This category displayed a pattern of volatility with notable increases peaking above 3% in late 2023, followed by periodic declines. Such fluctuations may correspond to workforce compensation cycles or changes in employee-related liabilities.
Customer advances
Customer advances as a liability steadily rose over the timeframe, increasing from approximately 1.7% in early 2020 to peaks above 3.7% by mid-2025. This trend suggests growing prepayments or deposits from customers.
Dividends payable
Dividends payable maintained a relatively low and stable proportion, generally between 0.7% and 0.8%, indicating steady dividend obligations without significant volatility.
Other current liabilities
Other current liabilities remained fairly consistent, mostly ranging between 2.5% and 3.9%, exhibiting minor fluctuations without clear upward or downward trends.
Long-term debt and noncurrent liabilities
Long-term debt due within one year showed noticeable variability, with percentages oscillating between approximately 6.5% and 12.2%, without a consistent directional trend. Noncurrent liabilities overall decreased from near 50% in early 2020 to around 39-40% in later periods. This decrease is partly influenced by reductions in liabilities for postemployment benefits, which declined from over 8% to approximately 4% toward the end of the timeline.
Other noncurrent liabilities
Other liabilities as a portion of total liabilities and shareholders’ equity remained mostly stable around 5.5% to 6%, indicating steady noncurrent obligations outside debt and postemployment benefits.
Total liabilities
Total liabilities constituted the majority of the capital structure, ranging between 76% and 82% throughout the periods. There was a mild declining trend in total liabilities from early 2023 onward, suggesting a modest shift toward equity financing or retained earnings.
Shareholders’ equity components
Common stock as a percentage exhibited a gradual decline over time, decreasing from approximately 8% in early 2020 to near 6.6% in later years. Treasury stock (negative value) increased substantially in absolute magnitude, indicating significant repurchases or reductions in outstanding shares, with levels declining from around -33% to more than -55% at peak, before moderating slightly. Profit employed in the business and accumulated other comprehensive loss showed an overall improvement in retained earnings and comprehensive income, with profit employed rising from about 46.8% to over 72% in 2025 before decreasing slightly, while accumulated other comprehensive loss fluctuated without clear improvement.
Total shareholders’ equity
Total shareholders’ equity hovered between approximately 18% and 23%, with a tendency to increase in the intermediate term (2022-2024) before declining marginally. This indicates equity stability with some fluctuations particularly affected by treasury stock changes.