What is the current annual operating margin of CAT?

As of today, CAT annual operating margin is 16.50%

What is 1-year change in CAT annual operating margin?

CAT annual operating margin is down -20.98% year-over-year

What is 3-year change in CAT annual operating margin?

CAT annual operating margin is up +7.49% over the past 3 years

How far is CAT annual operating margin from its all-time high?

CAT annual operating margin is currently -20.98% below its historical high of 20.88% set on December 31, 2024

How does CAT annual operating margin rank versus sector peers?

CAT annual operating margin is higher than 80.17% of companies in Industrials sector

When is CAT next annual earnings release?

The next annual earnings release for CAT is on February 2, 2027

What is the current quarterly operating margin of CAT?

As of today, CAT quarterly operating margin is 20.57%

What is CAT quarterly operating margin most recent change?

CAT quarterly operating margin was down -6.03% on September 30, 2026

What is 1-year change in CAT quarterly operating margin?

CAT quarterly operating margin is up +17.48% year-over-year

How far is CAT quarterly operating margin from its all-time high?

CAT quarterly operating margin is currently -8.21% below its historical high of 22.41% set on June 30, 2024

How does CAT quarterly operating margin rank versus sector peers?

CAT quarterly operating margin is higher than 84.60% of companies in Industrials sector

When is CAT next earnings release?

The next earnings release for CAT is on February 2, 2027

CAT Operating Margin History & Chart Since 1980

Annual Operating Margin

16.50%4.38%-20.98%

December 31, 2025

Summary

Current Value: As of today, CAT annual operating margin is 16.50%, down -20.98% on December 31, 2025
Historical Performance: CAT annual operating margin is up +7.49% over the past 3 years, up +38.31% over the past 5 years
All-Time High Comparison: CAT annual operating margin is currently -20.98% below its historical high of 20.88% set on December 31, 2024
3-Year Low Comparison: CAT annual operating margin is +7.49% above its 3-year low of 15.35% reached on an earlier date
Sector Comparison: CAT annual operating margin is higher than 80.17% of companies in Industrials sector

Operating Margin Chart

beforeafter

Performance

CAT Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Operating Margin	Dec 31, 25	16.50%	-21.0%	+7.5%	+38.3%	+71.5%
Quarterly Operating Margin	Sep 30, 26	20.57%	+17.5%	-1.1%	+49.9%	+83.5%
Price	Nov 12, 26	$605.28	+5.6%	+152.5%	+189.2%	+529.6%
PE Ratio	Nov 12, 26	23.74	-19.3%	+74.9%	+6.2%	+61.5%
Annual Revenue	Dec 31, 25	$67.59B	+4.3%	+13.7%	+61.9%	+58.7%
Annual Operating Profit	Dec 31, 25	$11.15B	-17.6%	+22.2%	+123.9%	+172.3%
Annual Gross Margin	Dec 31, 25	31.78%	-12.5%	+11.1%	+16.0%	+26.9%
Annual Net Margin	Dec 31, 25	13.14%	-21.1%	+16.5%	+82.8%	+102.8%

Operating Margin Highs

CAT Annual Operating Margin Highs Comparison
Period	High	Date	Current
3Y	20.88%	Dec 31, 24	-21.0%
5Y	20.88%	Dec 31, 24	-21.0%
All	20.88%	Dec 31, 24	-21.0%

Operating Margin Lows

CAT Annual Operating Margin Lows Comparison
Period	Low	Date	Current
3Y	15.35%	N/A	+7.5%
5Y	11.93%	N/A	+38.3%
All	-5.72%	Dec 1, 83	+388.5%

Operating Margin History

Year	Value	Change
2025	16.50%	-21.0%
2024	20.88%	+1.3%
2023	20.62%	+34.3%
2022	15.35%	+12.3%
2021	13.67%	+14.6%
2020	11.93%	-24.4%
2019	15.79%	-0.3%
2018	15.84%	+26.8%
2017	12.49%	+127.5%
2016	5.49%	-44.9%
2015	9.97%	-4.9%
2014	10.48%	-0.9%
2013	10.58%	-22.1%
2012	13.58%	+12.9%
2011	12.03%	+25.1%
2010	9.62%	+132.9%
2009	4.13%	-53.2%
2008	8.83%	-19.4%
2007	10.95%	-8.1%
2006	11.92%	+14.2%
2005	10.44%	-1.4%
2004	10.59%	+11.7%
2003	9.48%	+3.8%

Year	Value	Change
2002	9.13%	-12.0%
2001	10.37%	-13.7%
2000	12.02%	+15.2%
1999	10.43%	-20.2%
1998	13.07%	-11.4%
1997	14.75%	+6.6%
1996	13.84%	+12.7%
1995	12.28%	+22.7%
1994	10.01%	+45.7%
1993	6.87%	+737.8%
1992	0.82%	+1.2%
1991	0.81%	-82.9%
1990	4.74%	-11.4%
1989	5.35%	-33.1%
1988	8.00%	+35.8%
1987	5.89%	+73.2%
1986	3.40%	-24.3%
1985	4.49%	+361.0%
1984	-1.72%	+69.9%
1983	-5.72%	-46.3%
1982	-3.91%	-139.6%
1981	9.87%	+2.1%
1980	9.67%	-

FAQ

What is the current annual operating margin of CAT?: As of today, CAT annual operating margin is 16.50%
What is 1-year change in CAT annual operating margin?: CAT annual operating margin is down -20.98% year-over-year
What is 3-year change in CAT annual operating margin?: CAT annual operating margin is up +7.49% over the past 3 years
How far is CAT annual operating margin from its all-time high?: CAT annual operating margin is currently -20.98% below its historical high of 20.88% set on December 31, 2024
How does CAT annual operating margin rank versus sector peers?: CAT annual operating margin is higher than 80.17% of companies in Industrials sector
When is CAT next annual earnings release?: The next annual earnings release for CAT is on February 2, 2027

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Quarterly Operating Margin

20.57%1.32%-6.03%

September 30, 2026

Summary

Current Value: As of today, CAT quarterly operating margin is 20.57%, down -6.03% on September 30, 2026
Historical Performance: CAT quarterly operating margin is up +17.48% year-over-year, down -1.06% over the past 3 years
All-Time High Comparison: CAT quarterly operating margin is currently -8.21% below its historical high of 22.41% set on June 30, 2024
3-Year Low Comparison: CAT quarterly operating margin is +32.11% above its 3-year low of 15.57% reached on December 31, 2025
Sector Comparison: CAT quarterly operating margin is higher than 84.60% of companies in Industrials sector

Performance

CAT Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Operating Margin	Sep 30, 26	20.57%	-6.0%	+17.5%	-1.1%	+49.9%
Annual Operating Margin	Dec 31, 25	16.50%	–	-21.0%	+7.5%	+38.3%
Price	Nov 12, 26	$605.28	-29.3%	+5.6%	+152.5%	+189.2%
PE Ratio	Nov 12, 26	23.74	-35.5%	-19.3%	+74.9%	+6.2%
Quarterly Revenue	Sep 30, 26	$20.68B	+0.7%	+17.3%	+23.0%	+66.9%
Quarterly Operating Profit	Sep 30, 26	$4.21B	-6.3%	+36.4%	+20.6%	+147.7%
Quarterly Gross Margin	Sep 30, 26	33.72%	-6.8%	+5.7%	-5.2%	+13.6%
Quarterly Net Margin	Sep 30, 26	15.89%	-9.2%	+21.9%	-4.4%	+37.9%

Quarterly Operating Margin Highs

CAT Quarterly Operating Margin Highs Comparison
Period	High	Date	Current
1Y	21.89%	Jun 30, 26	-6.0%
3Y	22.41%	Jun 30, 24	-8.2%
5Y	22.41%	Jun 30, 24	-8.2%
All	22.41%	Jun 30, 24	-8.2%

Quarterly Operating Margin Lows

CAT Quarterly Operating Margin Lows Comparison
Period	Low	Date	Current
1Y	15.57%	Dec 31, 25	+32.1%
3Y	15.57%	Dec 31, 25	+32.1%
5Y	11.43%	Dec 31, 21	+80.0%
All	-304.17%	Dec 1, 84	+106.8%

Quarterly Operating Margin History

Month	Value	Change
Sep 2026	20.57%	-6.0%
Jun 2026	21.89%	+21.9%
Mar 2026	17.95%	+15.3%
Dec 2025	15.57%	-11.1%
Sep 2025	17.51%	-0.6%
Jun 2025	17.62%	-3.9%
Mar 2025	18.33%	+0.4%
Dec 2024	18.26%	-8.6%
Sep 2024	19.97%	-10.9%
Jun 2024	22.41%	+0.8%
Mar 2024	22.24%	+17.7%
Dec 2023	18.90%	-9.1%
Sep 2023	20.79%	-2.3%
Jun 2023	21.27%	+0.9%
Mar 2023	21.07%	+24.0%
Dec 2022	16.99%	+3.0%
Sep 2022	16.50%	+19.2%
Jun 2022	13.84%	+0.7%
Mar 2022	13.75%	+20.3%
Dec 2021	11.43%	-16.7%
Sep 2021	13.72%	-2.8%
Jun 2021	14.11%	-10.2%
Mar 2021	15.72%	+21.8%
Dec 2020	12.91%	+13.3%
Sep 2020	11.39%	+18.3%
Jun 2020	9.63%	-29.0%
Mar 2020	13.56%	-5.8%
Dec 2019	14.40%	-9.7%
Sep 2019	15.95%	-0.6%
Jun 2019	16.05%	-4.0%
Mar 2019	16.72%	+21.2%
Dec 2018	13.80%	-16.8%
Sep 2018	16.58%	+2.1%
Jun 2018	16.24%	-3.9%
Mar 2018	16.90%	+33.9%
Dec 2017	12.62%	-9.8%
Sep 2017	13.99%	+17.0%
Jun 2017	11.96%	+6.6%
Mar 2017	11.22%	+495.1%
Dec 2016	-2.84%	-132.3%
Sep 2016	8.79%	-1.7%
Jun 2016	8.94%	+21.8%
Mar 2016	7.34%	+39.0%
Dec 2015	5.28%	-28.0%
Sep 2015	7.33%	-26.0%
Jun 2015	9.91%	-19.5%
Mar 2015	12.31%	+51.2%
Dec 2014	8.14%	-25.2%
Sep 2014	10.88%	-3.5%
Jun 2014	11.27%	-4.2%
Mar 2014	11.77%	+6.9%
Dec 2013	11.01%	+3.3%
Sep 2013	10.66%	-3.4%
Jun 2013	11.03%	+16.7%
Mar 2013	9.45%	-1.5%
Dec 2012	9.59%	-32.9%
Sep 2012	14.30%	-2.6%
Jun 2012	14.68%	-1.5%
Mar 2012	14.90%	+30.6%
Dec 2011	11.41%	+1.8%
Sep 2011	11.21%	-3.1%
Jun 2011	11.57%	-17.7%
Mar 2011	14.06%	+37.6%
Dec 2010	10.22%	-8.3%
Sep 2010	11.15%	+14.2%
Jun 2010	9.76%	+52.0%
Mar 2010	6.42%	+308.9%
Dec 2009	1.57%	-61.8%
Sep 2009	4.11%	-30.1%
Jun 2009	5.88%	+22.2%
Mar 2009	4.81%	+27.6%
Dec 2008	3.77%	-58.6%
Sep 2008	9.11%	-19.0%
Jun 2008	11.25%	+2.7%
Mar 2008	10.95%	+6.0%
Dec 2007	10.33%	-10.0%
Sep 2007	11.48%	+7.5%
Jun 2007	10.68%	-6.2%

Month	Value	Change
Mar 2007	11.38%	+8.5%
Dec 2006	10.49%	+2.3%
Sep 2006	10.25%	-26.5%
Jun 2006	13.95%	+6.0%
Mar 2006	13.16%	+17.9%
Dec 2005	11.16%	+6.6%
Sep 2005	10.47%	-4.0%
Jun 2005	10.91%	+20.3%
Mar 2005	9.07%	-7.0%
Dec 2004	9.75%	-5.8%
Sep 2004	10.35%	+2.0%
Jun 2004	10.15%	-4.2%
Mar 2004	10.60%	+11.5%
Dec 2003	9.51%	+37.0%
Sep 2003	6.94%	-29.8%
Jun 2003	9.88%	+37.2%
Mar 2003	7.20%	+7.3%
Dec 2002	6.71%	+3.2%
Sep 2002	6.50%	-20.5%
Jun 2002	8.18%	+111.9%
Mar 2002	3.86%	-62.7%
Dec 2001	10.34%	+78.9%
Sep 2001	5.78%	-30.8%
Jun 2001	8.35%	+30.1%
Mar 2001	6.42%	-48.7%
Dec 2000	12.51%	+20.3%
Sep 2000	10.40%	-22.4%
Jun 2000	13.41%	+15.9%
Mar 2000	11.57%	+11.5%
Dec 1999	10.38%	+2.4%
Sep 1999	10.14%	-9.9%
Jun 1999	11.25%	+13.9%
Mar 1999	9.88%	-5.6%
Dec 1998	10.47%	-14.2%
Sep 1998	12.20%	-17.3%
Jun 1998	14.76%	-1.5%
Mar 1998	14.98%	+2.6%
Dec 1997	14.60%	+6.8%
Sep 1997	13.67%	-9.8%
Jun 1997	15.15%	-3.1%
Mar 1997	15.63%	+15.9%
Dec 1996	13.48%	+2.2%
Sep 1996	13.19%	-13.3%
Jun 1996	15.22%	+13.2%
Mar 1996	13.45%	+7.5%
Dec 1995	12.51%	+30.9%
Sep 1995	9.56%	-29.1%
Jun 1995	13.48%	+1.0%
Mar 1995	13.34%	+11.4%
Dec 1994	11.97%	+8.2%
Sep 1994	11.06%	-3.9%
Jun 1994	11.51%	+1.9%
Mar 1994	11.29%	+22.1%
Dec 1993	9.25%	+34.3%
Sep 1993	6.89%	+11.1%
Jun 1993	6.20%	+29.7%
Mar 1993	4.78%	+259.3%
Dec 1992	-3.00%	-152.8%
Sep 1992	5.68%	+377.3%
Jun 1992	1.19%	+137.1%
Mar 1992	-3.21%	+77.7%
Dec 1991	-14.40%	-1,310.1%
Sep 1991	1.19%	-53.0%
Jun 1991	2.53%	-13.4%
Mar 1991	2.92%	-0.7%
Dec 1990	2.94%	-42.9%
Sep 1990	5.15%	+11.7%
Jun 1990	4.61%	-25.2%
Mar 1990	6.16%	+11.2%
Dec 1989	5.54%	-11.2%
Sep 1989	6.24%	-28.1%
Jun 1989	8.68%	+103.4%
Dec 1988	-254.43%	-4.5%
Dec 1987	-243.51%	+18.4%
Dec 1986	-298.42%	-16.6%
Dec 1985	-255.84%	+15.9%
Dec 1984	-304.17%	-

FAQ

What is the current quarterly operating margin of CAT?: As of today, CAT quarterly operating margin is 20.57%
What is CAT quarterly operating margin most recent change?: CAT quarterly operating margin was down -6.03% on September 30, 2026
What is 1-year change in CAT quarterly operating margin?: CAT quarterly operating margin is up +17.48% year-over-year
How far is CAT quarterly operating margin from its all-time high?: CAT quarterly operating margin is currently -8.21% below its historical high of 22.41% set on June 30, 2024
How does CAT quarterly operating margin rank versus sector peers?: CAT quarterly operating margin is higher than 84.60% of companies in Industrials sector
When is CAT next earnings release?: The next earnings release for CAT is on February 2, 2027

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Data Sources & References

CAT Official Website www.caterpillar.com
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/18230/000001823026000003/0000018230-26-000003-index.htm
CAT Profile on Yahoo Finance finance.yahoo.com/quote/CAT
CAT Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/cat