Caterpillar annual net debt
2008
2009
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Caterpillar Net Debt Growth & History (CAT)
Caterpillar's net debt was $26.96B for fiscal 2025.
View full Caterpillar company overviewCaterpillar annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $26.96B | $1.50B | +5.90% |
| 2024 | 2024-12-31 | $25.46B | $2.75B | +12.09% |
| 2023 | 2023-12-31 | $22.71B | −$2.54B | −10.04% |
| 2022 | 2022-12-31 | $25.25B | $2.42B | +10.61% |
| 2021 | 2021-12-31 | $22.82B | $3.54B | +18.37% |
| 2020 | 2020-12-31 | $19.28B | −$4.51B | −18.95% |
| 2019 | 2019-12-31 | $23.79B | $956.0M | +4.19% |
| 2018 | 2018-12-31 | $22.83B | $2.47B | +12.12% |
| 2017 | 2017-12-31 | $20.36B | −$2.56B | −11.16% |
| 2016 | 2016-12-31 | $22.92B | −$2.70B | −10.55% |
| 2015 | 2015-12-31 | $25.63B | — | — |
| 2009 | 2009-12-31 | $21.06B | −$6.24B | −22.87% |
| 2008 | 2008-12-31 | $27.31B | — | — |
Caterpillar quarterly net debt
Q4.09
Q4.15
Q4.16
Q4.17
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q4.20
Q4.21
Q4.22
Q4.23
Q4.24
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $38.43B | $3.13B | +8.86% |
| Q1 2026 | 2026-03-31 | $38.99B | — | — |
| Q4 2025 | 2025-12-31 | $26.96B | $1.50B | +5.90% |
| Q3 2025 | 2025-09-30 | $34.00B | — | — |
| Q2 2025 | 2025-06-30 | $35.31B | — | — |
| Q4 2024 | 2024-12-31 | $25.46B | $2.75B | +12.09% |
| Q4 2023 | 2023-12-31 | $22.71B | −$2.54B | −10.04% |
| Q4 2022 | 2022-12-31 | $25.25B | $2.42B | +10.61% |
| Q4 2021 | 2021-12-31 | $22.82B | $3.54B | +18.37% |
| Q4 2020 | 2020-12-31 | $19.28B | −$4.51B | −18.95% |
| Q4 2019 | 2019-12-31 | $23.79B | $956.0M | +4.19% |
| Q3 2019 | 2019-09-30 | −$7.30B | — | — |
| Q2 2019 | 2019-06-30 | −$6.79B | — | — |
| Q1 2019 | 2019-03-31 | −$6.46B | — | — |
| Q4 2018 | 2018-12-31 | $22.83B | $2.47B | +12.12% |
| Q4 2017 | 2017-12-31 | $20.36B | −$2.56B | −11.16% |
| Q4 2016 | 2016-12-31 | $22.92B | −$2.70B | −10.55% |
| Q4 2015 | 2015-12-31 | $25.63B | — | — |
| Q4 2009 | 2009-12-31 | $21.06B | — | — |
Caterpillar net debt trends
Over the last five fiscal years, Caterpillar's net debt increased from $19.28B to $26.96B, a change of $7.68B. The latest reported quarter, Q2 2026, shows $38.43B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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