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Caterpillar vs General Motors: revenue, profit, margins and growth compared

Caterpillar brought in $67.6B of revenue in fiscal 2025, General Motors $185B in fiscal 2025. Revenue changed by +4.3% at Caterpillar and -1.3% at General Motors on the year before, so Caterpillar grew faster. Caterpillar kept 13.1% of its revenue as net profit, General Motors 1.5%. Free cash flow was $8.9B at Caterpillar and $17.6B at General Motors.

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Side by side, latest fiscal year

CATGM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$67.6B$185B
Revenue growth+4.3%-1.3%
Net income$8.9B$2.7B
Net margin13.1%1.5%
Free cash flow$8.9B$17.6B
Free cash flow margin13.2%9.5%
Earnings per share (diluted)$18.81$3.27
Cash$10B$20.9B
Debt$30.7Bn/a
Price to earnings43.725.3
Market value$377.7B$72.5B
Dividend yield0.72%0.69%
Rank by revenue in sector#8 of 451 · Industrials#2 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: $67.6BGM FY2018: $147BGM FY2019: $137.2BGM FY2020: $122.5BGM FY2021: $127BGM FY2022: $156.7BGM FY2023: $171.8BGM FY2024: $187.4BGM FY2025: $185BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $67.6BGM $185B
Net income
CAT FY2018: $6.1BCAT FY2019: $6.1BCAT FY2020: $3BCAT FY2021: $6.5BCAT FY2022: $6.7BCAT FY2023: $10.3BCAT FY2024: $10.8BCAT FY2025: $8.9BGM FY2018: $8BGM FY2019: $6.7BGM FY2020: $6.4BGM FY2021: $10BGM FY2022: $9.9BGM FY2023: $10.1BGM FY2024: $6BGM FY2025: $2.7BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $8.9BGM $2.7B
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%GM FY2018: 5.4%GM FY2019: 4.9%GM FY2020: 5.2%GM FY2021: 7.9%GM FY2022: 6.3%GM FY2023: 5.9%GM FY2024: 3.2%GM FY2025: 1.5%FY18FY19FY20FY21FY22FY23FY24FY25
CAT 13.1%GM 1.5%
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%GM FY2019: -6.7%GM FY2020: -10.7%GM FY2021: +3.7%GM FY2022: +23.4%GM FY2023: +9.6%GM FY2024: +9.1%GM FY2025: -1.3%FY19FY20FY21FY22FY23FY24FY25
CAT +4.3%GM -1.3%
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: $8.9BGM FY2018: $6.5BGM FY2019: $7.4BGM FY2020: $11.4BGM FY2021: $7.7BGM FY2022: $6.8BGM FY2023: $10BGM FY2024: $9.3BGM FY2025: $17.6BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $8.9BGM $17.6B

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

Questions about Caterpillar and General Motors

Which is bigger by revenue, Caterpillar or General Motors?

General Motors is bigger by revenue: $185B in fiscal 2025, against $67.6B for Caterpillar in fiscal 2025.

Which keeps more of its revenue as profit, Caterpillar or General Motors?

Caterpillar had a net margin of 13.1% in fiscal 2025; General Motors had 1.5% in fiscal 2025.

Which grew revenue faster, Caterpillar or General Motors?

In their latest fiscal years revenue changed by +4.3% at Caterpillar and -1.3% at General Motors.

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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