Caterpillar Inc. balance sheet

At the end of fiscal 2025, Caterpillar Inc. had total assets of $98.58bn, total liabilities of $77.27bn and shareholders' equity of $21.32bn. It held $9.98bn in cash against $36.21bn of debt: net debt of $26.23bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Caterpillar Inc.: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	4.9	—	—	—	—	—	6.5	7.2	8.3	7.9	8.3	9.4	9.3	7.0	7.0	6.9	10.0	6.7
Receivables	5.6	8.5	10.1	9.7	8.4	7.7	6.7	6.0	7.4	8.8	8.6	7.3	8.5	8.9	9.3	9.3	10.9	13.2
Inventory	6.4	9.6	14.5	15.5	12.6	12.2	9.7	8.6	10.0	11.5	11.3	11.4	14.0	16.3	16.6	16.8	18.1	20.6
Total current assets	27.2	31.8	37.9	42.1	38.3	38.9	33.5	32.0	36.2	38.6	39.2	39.5	43.5	43.8	46.9	45.7	52.5	54.5
Goodwill	2.3	2.6	7.1	6.9	7.0	6.7	6.6	6.0	6.2	6.2	6.2	6.4	6.3	5.3	5.3	5.2	5.3	5.9
Total assets	60.0	64.0	81.2	89.0	84.9	84.5	78.3	74.7	77.0	78.5	78.5	78.3	82.8	81.9	87.5	87.8	98.6	102.6
Accounts payable	3.0	5.9	8.2	6.8	6.6	6.5	5.0	4.6	6.5	7.1	6.0	6.1	8.2	8.7	7.9	7.7	9.0	10.3
Deferred revenue (current)	—	—	—	—	—	—	—	—	—	—	1.2	1.1	1.1	1.9	1.9	2.3	3.3	4.8
Total current liabilities	19.0	22.0	28.4	29.4	27.3	27.9	26.2	26.1	26.9	28.2	26.6	25.7	29.8	31.5	34.7	32.3	36.6	39.8
Short-term debt	4.1	4.1	4.0	5.3	3.7	4.7	7.0	7.3	4.8	5.7	5.2	2.0	5.4	6.0	4.6	4.4	5.5	—
Long-term debt	21.8	20.4	24.9	27.8	26.7	27.8	25.2	22.8	23.8	25.0	26.3	26.0	26.0	25.7	24.5	27.4	30.7	—
Total debt	25.9	24.5	28.9	33.0	30.4	32.5	32.1	30.1	28.7	30.7	31.4	28.0	31.4	31.7	29.1	31.7	36.2	36.2
Total liabilities	50.7	52.7	67.8	71.4	64.0	67.9	63.5	61.5	63.2	64.4	63.8	62.9	66.3	66.1	68.0	68.3	77.3	83.2
Shareholders' equity	8.8	10.9	12.9	17.6	20.9	16.8	14.9	13.2	13.7	14.3	14.6	15.4	16.5	15.9	19.5	19.5	21.3	19.4
Net debt (negative = net cash)	21.1	—	—	—	—	—	25.6	22.9	20.4	22.8	23.2	18.7	22.2	24.7	22.1	24.9	26.2	29.5
Shares outstanding	625m	639m	648m	655m	638m	606m	582m	587m	598m	576m	550m	545m	536m	516m	499m	478m	465m	460m

US$ billions unless shown otherwise. Fiscal quarters.

Caterpillar Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	9.1	9.3	9.1	9.7	10.1	10.9	11.4	13.2
Inventory	17.3	16.8	17.9	18.6	19.0	18.1	19.6	20.6
Total current assets	44.9	45.7	43.0	46.8	49.8	52.5	48.6	54.5
Goodwill	5.3	5.2	5.3	5.3	5.3	5.3	5.9	5.9
Total assets	86.3	87.8	85.0	90.3	93.7	98.6	95.6	102.6
Accounts payable	7.7	7.7	7.8	8.6	8.7	9.0	9.6	10.3
Deferred revenue (current)	2.4	2.3	3.0	3.4	3.4	3.3	4.4	4.8
Total current liabilities	32.2	32.3	32.6	34.9	36.0	36.6	35.9	39.8
Short-term debt	—	4.4	—	—	—	5.5	—	—
Long-term debt	—	27.4	—	—	—	30.7	—	—
Total debt	—	31.7	—	—	—	36.2	—	—
Total liabilities	66.9	68.3	66.9	71.7	73.1	77.3	76.9	83.2
Shareholders' equity	19.4	19.5	18.1	18.7	20.7	21.3	18.7	19.4
Shares outstanding	483m	478m	471m	469m	468m	465m	461m	460m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Caterpillar Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Caterpillar Inc.