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Caterpillar vs RTX: revenue, profit, margins and growth compared

Caterpillar brought in $67.6B of revenue in fiscal 2025, RTX $88.6B in fiscal 2025. Revenue changed by +4.3% at Caterpillar and +9.7% at RTX on the year before, so RTX grew faster. Caterpillar kept 13.1% of its revenue as net profit, RTX 7.6%. Free cash flow was $8.9B at Caterpillar and $7.9B at RTX.

Side by side, latest fiscal year

CATRTX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$67.6B$88.6B
Revenue growth+4.3%+9.7%
Net income$8.9B$6.7B
Net margin13.1%7.6%
Free cash flow$8.9B$7.9B
Free cash flow margin13.2%9.0%
Earnings per share (diluted)$18.81$4.96
Cash$10B$7.4B
Debt$30.7B$37.7B
Price to earnings43.738.2
Market value$377.7B$255.3B
Dividend yield0.72%1.41%
Rank by revenue in sector#8 of 451 · Industrials#6 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: $67.6BRTX FY2018: $34.7BRTX FY2019: $45.3BRTX FY2020: $56.6BRTX FY2021: $64.4BRTX FY2022: $67.1BRTX FY2023: $68.9BRTX FY2024: $80.7BRTX FY2025: $88.6BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $67.6BRTX $88.6B
Net income
CAT FY2018: $6.1BCAT FY2019: $6.1BCAT FY2020: $3BCAT FY2021: $6.5BCAT FY2022: $6.7BCAT FY2023: $10.3BCAT FY2024: $10.8BCAT FY2025: $8.9BRTX FY2018: $5.3BRTX FY2019: $5.5BRTX FY2020: -$3.5BRTX FY2021: $3.9BRTX FY2022: $5.2BRTX FY2023: $3.2BRTX FY2024: $4.8BRTX FY2025: $6.7BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $8.9BRTX $6.7B
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%RTX FY2018: 15.2%RTX FY2019: 12.2%RTX FY2020: -6.2%RTX FY2021: 6.0%RTX FY2022: 7.7%RTX FY2023: 4.6%RTX FY2024: 5.9%RTX FY2025: 7.6%FY18FY19FY20FY21FY22FY23FY24FY25
CAT 13.1%RTX 7.6%
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%RTX FY2019: +30.7%RTX FY2020: +24.8%RTX FY2021: +13.8%RTX FY2022: +4.2%RTX FY2023: +2.8%RTX FY2024: +17.1%RTX FY2025: +9.7%FY19FY20FY21FY22FY23FY24FY25
CAT +4.3%RTX +9.7%
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: $8.9BRTX FY2018: $1.2BRTX FY2019: $4BRTX FY2020: $2.5BRTX FY2021: $5BRTX FY2022: $4.9BRTX FY2023: $5.5BRTX FY2024: $4.5BRTX FY2025: $7.9BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $8.9BRTX $7.9B

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

Questions about Caterpillar and RTX

Which is bigger by revenue, Caterpillar or RTX?

RTX is bigger by revenue: $88.6B in fiscal 2025, against $67.6B for Caterpillar in fiscal 2025.

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

Caterpillar had a net margin of 13.1% in fiscal 2025; RTX had 7.6% in fiscal 2025.

Which grew revenue faster, Caterpillar or RTX?

In their latest fiscal years revenue changed by +4.3% at Caterpillar and +9.7% at RTX.

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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