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Caterpillar vs Ford Motor: revenue, profit, margins and growth compared

Caterpillar brought in $67.6B of revenue in fiscal 2025, Ford Motor $187.3B in fiscal 2025. Revenue changed by +4.3% at Caterpillar and +1.2% at Ford Motor on the year before, so Caterpillar grew faster. Caterpillar kept 13.1% of its revenue as net profit, Ford Motor -4.4%. Free cash flow was $8.9B at Caterpillar and $12.5B at Ford Motor.

Side by side, latest fiscal year

CATF
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$67.6B$187.3B
Revenue growth+4.3%+1.2%
Net income$8.9B-$8.2B
Net margin13.1%-4.4%
Free cash flow$8.9B$12.5B
Free cash flow margin13.2%6.7%
Earnings per share (diluted)$18.81-$2.06
Cash$10B$23.4B
Debt$30.7Bn/a
Price to earnings43.7n/a
Market value$377.7B$49.8B
Dividend yield0.72%5.90%
Rank by revenue in sector#8 of 451 · Industrials#1 of 451 · Industrials

Over the years

Revenue
CAT FY2018: $54.7BCAT FY2019: $53.8BCAT FY2020: $41.7BCAT FY2021: $51BCAT FY2022: $59.4BCAT FY2023: $67.1BCAT FY2024: $64.8BCAT FY2025: $67.6BF FY2018: $160.3BF FY2019: $155.9BF FY2020: $127.1BF FY2021: $136.3BF FY2022: $158.1BF FY2023: $176.2BF FY2024: $185BF FY2025: $187.3BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $67.6BF $187.3B
Net income
CAT FY2018: $6.1BCAT FY2019: $6.1BCAT FY2020: $3BCAT FY2021: $6.5BCAT FY2022: $6.7BCAT FY2023: $10.3BCAT FY2024: $10.8BCAT FY2025: $8.9BF FY2018: $3.7BF FY2019: $47MF FY2020: -$1.3BF FY2021: $17.9BF FY2022: -$2BF FY2023: $4.3BF FY2024: $5.9BF FY2025: -$8.2BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $8.9BF -$8.2B
Net margin
CAT FY2018: 11.2%CAT FY2019: 11.3%CAT FY2020: 7.2%CAT FY2021: 12.7%CAT FY2022: 11.3%CAT FY2023: 15.4%CAT FY2024: 16.7%CAT FY2025: 13.1%F FY2018: 2.3%F FY2019: 0.0%F FY2020: -1.0%F FY2021: 13.2%F FY2022: -1.3%F FY2023: 2.5%F FY2024: 3.2%F FY2025: -4.4%FY18FY19FY20FY21FY22FY23FY24FY25
CAT 13.1%F -4.4%
Revenue growth
CAT FY2019: -1.7%CAT FY2020: -22.4%CAT FY2021: +22.1%CAT FY2022: +16.6%CAT FY2023: +12.8%CAT FY2024: -3.4%CAT FY2025: +4.3%F FY2019: -2.8%F FY2020: -18.4%F FY2021: +7.2%F FY2022: +15.9%F FY2023: +11.5%F FY2024: +5.0%F FY2025: +1.2%FY19FY20FY21FY22FY23FY24FY25
CAT +4.3%F +1.2%
Free cash flow
CAT FY2018: $5.3BCAT FY2019: $5.9BCAT FY2020: $5.3BCAT FY2021: $6.1BCAT FY2022: $6.5BCAT FY2023: $11.3BCAT FY2024: $10BCAT FY2025: $8.9BF FY2018: $7.2BF FY2019: $10BF FY2020: $18.5BF FY2021: $9.6BF FY2022: -$13MF FY2023: $6.7BF FY2024: $6.7BF FY2025: $12.5BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $8.9BF $12.5B

Fiscal years as each company reports them; the two may end in different months.

Questions about Caterpillar and Ford Motor

Which is bigger by revenue, Caterpillar or Ford Motor?

Ford Motor is bigger by revenue: $187.3B in fiscal 2025, against $67.6B for Caterpillar in fiscal 2025.

Which keeps more of its revenue as profit, Caterpillar or Ford Motor?

Caterpillar had a net margin of 13.1% in fiscal 2025; Ford Motor had -4.4% in fiscal 2025.

Which grew revenue faster, Caterpillar or Ford Motor?

In their latest fiscal years revenue changed by +4.3% at Caterpillar and +1.2% at Ford Motor.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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