Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Selected Financial Data since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
- Analysis of Debt
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Caterpillar Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
The financial performance exhibits a consistent upward trajectory in both top-line revenue and bottom-line profitability over the analyzed period. Sales of machinery, power, and energy grew from 11.19 billion USD in March 2021 to 19.58 billion USD by June 2026, indicating strong market demand and pricing power. While periodic fluctuations occurred, particularly a dip in the first quarter of 2024, the long-term growth trend remains positive.
- Revenue and Gross Margin Dynamics
- Gross margins expanded significantly from 3.18 billion USD in early 2021 to 6.80 billion USD by June 2026. This expansion suggests an improvement in production efficiency or a shift toward higher-margin product mixes. The financial products segment maintained a steady, incremental growth pattern, with revenues increasing from 696 million USD to 962 million USD over the period.
- Operational Expense Trends
- Selling, general, and administrative expenses increased in alignment with revenue growth, rising from 1.24 billion USD to 2.02 billion USD. Research and development investment also trended upward, growing from 374 million USD to 616 million USD, reflecting a sustained commitment to product innovation. Despite these rising costs, the rate of gross margin expansion outpaced the growth of operating expenses, resulting in improved operating leverage.
- Profitability and Net Income
- Operating profit grew from 1.81 billion USD in March 2021 to a peak of 4.30 billion USD in June 2026. A notable non-recurring event occurred in December 2022, where a 925 million USD goodwill impairment charge temporarily impacted results. Profit attributable to common stockholders followed a similar positive trajectory, rising from 1.53 billion USD to 3.59 billion USD.
- Financial Costs and Taxation
- Interest expenses associated with financial products showed a marked increase, rising from 125 million USD in March 2021 to 362 million USD by June 2026. Provisions for income taxes also grew in tandem with higher taxable income, reaching a peak of 1.06 billion USD in the final quarter of the analysis period.