Caterpillar Inc. (CAT): gross margin, 10 filed years
Gross margin at Caterpillar Inc. was 33.8% in FY2025, the newest filed year. Across the 10 computed years from FY2016 it ranged from 27.2% (FY2016) to 38.0% (FY2024), with a median of 31.6%.
Tonight's figure on the company page: 33.8%, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | Gross margin | Read from |
|---|---|---|
| FY2016 | 27.2% | 10-K, filed 2017-02-15 |
| FY2017 | 31.2% | 10-K, filed 2018-02-15 |
| FY2018 | 32.4% | 10-K, filed 2019-02-14 |
| FY2019 | 31.9% | 10-K, filed 2020-02-19 |
| FY2020 | 30.3% | 10-K, filed 2021-02-17 |
| FY2021 | 30.3% | 10-K, filed 2022-02-16 |
| FY2022 | 30.4% | 10-K, filed 2023-02-15 |
| FY2023 | 36.2% | 10-K, filed 2024-02-16 |
| FY2024 | 38.0% | 10-K, filed 2025-02-14 |
| FY2025 | 33.8% | 10-K, filed 2026-02-13 |
How each year is computed
Gross profit / revenue x 100
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.