Return on Equity (ROE)
since 2005
Calculation
Caterpillar Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Profit (loss) attributable to common stockholders1 | ÷ | Equity attributable to common stockholders1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2024 | 55.37% | = | 100 | × | 10,792) | ÷ | 19,491) |
| Dec 31, 2023 | 53.02% | = | 100 | × | 10,335) | ÷ | 19,494) |
| Dec 31, 2022 | 42.25% | = | 100 | × | 6,705) | ÷ | 15,869) |
| Dec 31, 2021 | 39.37% | = | 100 | × | 6,489) | ÷ | 16,484) |
| Dec 31, 2020 | 19.56% | = | 100 | × | 2,998) | ÷ | 15,331) |
| Dec 31, 2019 | 41.77% | = | 100 | × | 6,093) | ÷ | 14,588) |
| Dec 31, 2018 | 43.79% | = | 100 | × | 6,147) | ÷ | 14,039) |
| Dec 31, 2017 | 5.50% | = | 100 | × | 754) | ÷ | 13,697) |
| Dec 31, 2016 | -0.51% | = | 100 | × | (67) | ÷ | 13,137) |
| Dec 31, 2015 | 14.19% | = | 100 | × | 2,102) | ÷ | 14,809) |
| Dec 31, 2014 | 22.06% | = | 100 | × | 3,695) | ÷ | 16,746) |
| Dec 31, 2013 | 18.21% | = | 100 | × | 3,789) | ÷ | 20,811) |
| Dec 31, 2012 | 32.40% | = | 100 | × | 5,681) | ÷ | 17,532) |
| Dec 31, 2011 | 38.25% | = | 100 | × | 4,928) | ÷ | 12,883) |
| Dec 31, 2010 | 24.94% | = | 100 | × | 2,700) | ÷ | 10,824) |
| Dec 31, 2009 | 10.24% | = | 100 | × | 895) | ÷ | 8,740) |
| Dec 31, 2008 | 58.44% | = | 100 | × | 3,557) | ÷ | 6,087) |
| Dec 31, 2007 | 39.86% | = | 100 | × | 3,541) | ÷ | 8,883) |
| Dec 31, 2006 | 51.57% | = | 100 | × | 3,537) | ÷ | 6,859) |
| Dec 31, 2005 | 33.85% | = | 100 | × | 2,854) | ÷ | 8,432) |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The annual financial data reveals notable fluctuations and trends in profitability, equity, and returns over the period analyzed.
- Profit (loss) attributable to common stockholders
- The profit exhibits volatility throughout the years, with a significant peak in 2018 reaching 6147 million US dollars after a loss in 2016 of -67 million US dollars. The profit then shows a marked upward trajectory, culminating in a high of 10792 million US dollars in 2024. Earlier years reflect fluctuating profits, with a low of 895 million US dollars in 2009, indicating sensitivity to broader economic or industry-specific conditions.
- Equity attributable to common stockholders
- Equity values demonstrate a general upward trend from 8432 million US dollars in 2005 to nearly 19500 million US dollars by 2024, despite some periods of decline, such as the drop from 20811 million in 2013 to 13137 million in 2016. This overall increase suggests accumulation of retained earnings and capital over the long term, although interim decreases highlight potential challenges or restructuring phases.
- Return on Equity (ROE)
- ROE percentage figures confirm the variability observed in profit and equity data. The highest ROE values occur in 2008 (58.44%) and peak again in 2023 (53.02%) and 2024 (55.37%), indicating periods of strong profitability relative to shareholders' equity. However, the ROE also includes a negative value in 2016 (-0.51%), matching the profit loss that year, demonstrating a temporary erosion of shareholder value. The data suggests cyclical performance dynamics with robust returns restoring following downturn periods.
In summary, the financial performance analysis highlights a pattern of cyclical profitability with recovery phases. Equity has grown substantially over time despite intermittent reductions. Return on equity validates these patterns, showing high efficiency in deploying equity during peak years and mild setbacks during less favorable years. The upward trend in profits and equity in the most recent years indicates a strong financial position heading into the future.
Comparison to Competitors
Caterpillar Inc., ROE, long-term trends, comparison to competitors
| Caterpillar Inc. | Boeing Co. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2024 | 55.37% | — | 20.52% | 33.90% | 30.64% | 84.26% | 7.94% |
| Dec 31, 2023 | 53.02% | — | 16.90% | 34.63% | 35.68% | 101.24% | 5.34% |
| Dec 31, 2022 | 42.25% | — | 14.45% | 0.62% | 29.74% | 61.86% | 7.16% |
| Dec 31, 2021 | 39.37% | — | 13.06% | -16.17% | 29.85% | 57.62% | 5.29% |
| Dec 31, 2020 | 19.56% | — | 9.44% | 16.04% | 27.23% | 113.60% | -4.88% |
| Dec 31, 2019 | 41.77% | — | 13.75% | -17.58% | 33.22% | 199.23% | 13.25% |
| Dec 31, 2018 | 43.79% | 3,085.55% | 13.32% | -72.16% | 37.21% | 361.98% | 13.70% |
| Dec 31, 2017 | 5.50% | 2,309.01% | 17.30% | -9.00% | 9.58% | — | 15.37% |
| Dec 31, 2016 | -0.51% | 599.14% | 12.90% | 11.65% | 24.83% | 350.89% | 18.33% |
| Dec 31, 2015 | 14.19% | 81.70% | 13.03% | -6.23% | 26.08% | 116.40% | 27.81% |
| Dec 31, 2014 | 22.06% | 62.85% | 11.36% | 11.89% | 24.01% | 106.29% | 19.93% |
| Dec 31, 2013 | 18.21% | 30.82% | 11.08% | 10.00% | 22.47% | 60.61% | 17.95% |
| Dec 31, 2012 | 32.40% | 66.47% | 8.07% | 11.09% | 22.55% | 7,038.46% | 19.80% |
| Dec 31, 2011 | 38.25% | 114.31% | 18.07% | 12.15% | 19.13% | 265.23% | 22.76% |
| Dec 31, 2010 | 24.94% | 119.56% | 12.62% | 9.79% | 18.96% | 78.91% | 20.45% |
| Dec 31, 2009 | 10.24% | 61.65% | 5.65% | 9.40% | 24.34% | 73.24% | 19.08% |
| Dec 31, 2008 | 58.44% | — | 16.75% | 16.63% | 38.85% | 112.29% | 29.46% |
| Dec 31, 2007 | 39.86% | 45.25% | 19.22% | 19.22% | 26.50% | 30.93% | 19.78% |
| Dec 31, 2006 | 51.57% | 46.74% | 23.14% | 18.55% | 21.43% | 36.74% | 21.58% |
| Dec 31, 2005 | 33.85% | 23.26% | 21.31% | 14.95% | 14.71% | 23.20% | 18.06% |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Caterpillar Inc., ROE, long-term trends, comparison to sector (capital goods)
| Caterpillar Inc. | Capital Goods | |
|---|---|---|
| Dec 31, 2024 | 55.37% | 18.15% |
| Dec 31, 2023 | 53.02% | 27.89% |
| Dec 31, 2022 | 42.25% | 13.39% |
| Dec 31, 2021 | 39.37% | 8.48% |
| Dec 31, 2020 | 19.56% | 4.42% |
| Dec 31, 2019 | 41.77% | 18.11% |
| Dec 31, 2018 | 43.79% | 11.28% |
| Dec 31, 2017 | 5.50% | 10.13% |
| Dec 31, 2016 | -0.51% | 20.08% |
| Dec 31, 2015 | 14.19% | 10.42% |
| Dec 31, 2014 | 22.06% | 18.16% |
| Dec 31, 2013 | 18.21% | 15.14% |
| Dec 31, 2012 | 32.40% | 17.58% |
| Dec 31, 2011 | 38.25% | 19.63% |
| Dec 31, 2010 | 24.94% | 15.88% |
| Dec 31, 2009 | 10.24% | 13.47% |
| Dec 31, 2008 | 58.44% | 24.97% |
| Dec 31, 2007 | 39.86% | 22.64% |
| Dec 31, 2006 | 51.57% | 22.16% |
| Dec 31, 2005 | 33.85% | 17.27% |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Caterpillar Inc., ROE, long-term trends, comparison to industry (industrials)
| Caterpillar Inc. | Industrials | |
|---|---|---|
| Dec 31, 2024 | 55.37% | 23.51% |
| Dec 31, 2023 | 53.02% | 27.70% |
| Dec 31, 2022 | 42.25% | 15.38% |
| Dec 31, 2021 | 39.37% | 15.38% |
| Dec 31, 2020 | 19.56% | 0.24% |
| Dec 31, 2019 | 41.77% | 14.56% |
| Dec 31, 2018 | 43.79% | 17.95% |
| Dec 31, 2017 | 5.50% | 18.24% |
| Dec 31, 2016 | -0.51% | 21.69% |
| Dec 31, 2015 | 14.19% | 16.11% |
| Dec 31, 2014 | 22.06% | 19.68% |
| Dec 31, 2013 | 18.21% | 16.40% |
| Dec 31, 2012 | 32.40% | 17.20% |
| Dec 31, 2011 | 38.25% | 20.10% |
| Dec 31, 2010 | 24.94% | 16.41% |
| Dec 31, 2009 | 10.24% | 12.84% |
| Dec 31, 2008 | 58.44% | 20.74% |
| Dec 31, 2007 | 39.86% | 20.36% |
| Dec 31, 2006 | 51.57% | 32.16% |
| Dec 31, 2005 | 33.85% | 7.80% |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).