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

Caterpillar brought in $67.6B of revenue in fiscal 2025, Tesla $94.8B in fiscal 2025. Revenue changed by +4.3% at Caterpillar and -2.9% at Tesla on the year before, so Caterpillar grew faster. Caterpillar kept 13.1% of its revenue as net profit, Tesla 4.0%. Free cash flow was $8.9B at Caterpillar and $6.2B at Tesla.

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Side by side, latest fiscal year

CATTSLA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$67.6B$94.8B
Revenue growth+4.3%-2.9%
Net income$8.9B$3.8B
Net margin13.1%4.0%
Free cash flow$8.9B$6.2B
Free cash flow margin13.2%6.6%
Earnings per share (diluted)$18.81$1.08
Cash$10B$16.5B
Debt$30.7B$6.6B
Price to earnings43.7344.6
Market value$377.7B$1.47T
Dividend yield0.72%n/a
Rank by revenue in sector#8 of 451 · Industrials#3 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: $67.6BTSLA FY2018: $21.5BTSLA FY2019: $24.6BTSLA FY2020: $31.5BTSLA FY2021: $53.8BTSLA FY2022: $81.5BTSLA FY2023: $96.8BTSLA FY2024: $97.7BTSLA FY2025: $94.8BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $67.6BTSLA $94.8B
Net income
CAT FY2018: $6.1BCAT FY2019: $6.1BCAT FY2020: $3BCAT FY2021: $6.5BCAT FY2022: $6.7BCAT FY2023: $10.3BCAT FY2024: $10.8BCAT FY2025: $8.9BTSLA FY2018: -$976MTSLA FY2019: -$862MTSLA FY2020: $721MTSLA FY2021: $5.5BTSLA FY2022: $12.6BTSLA FY2023: $15BTSLA FY2024: $7.1BTSLA FY2025: $3.8BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $8.9BTSLA $3.8B
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%TSLA FY2018: -4.5%TSLA FY2019: -3.5%TSLA FY2020: 2.3%TSLA FY2021: 10.3%TSLA FY2022: 15.4%TSLA FY2023: 15.5%TSLA FY2024: 7.3%TSLA FY2025: 4.0%FY18FY19FY20FY21FY22FY23FY24FY25
CAT 13.1%TSLA 4.0%
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%TSLA FY2019: +14.5%TSLA FY2020: +28.3%TSLA FY2021: +70.7%TSLA FY2022: +51.4%TSLA FY2023: +18.8%TSLA FY2024: +0.9%TSLA FY2025: -2.9%FY19FY20FY21FY22FY23FY24FY25
CAT +4.3%TSLA -2.9%
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: $8.9BTSLA FY2018: -$3MTSLA FY2019: $1.1BTSLA FY2020: $2.8BTSLA FY2021: $5BTSLA FY2022: $7.6BTSLA FY2023: $4.4BTSLA FY2024: $3.6BTSLA FY2025: $6.2BFY18FY19FY20FY21FY22FY23FY24FY25
CAT $8.9BTSLA $6.2B

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

Questions about Caterpillar and Tesla

Which is bigger by revenue, Caterpillar or Tesla?

Tesla is bigger by revenue: $94.8B in fiscal 2025, against $67.6B for Caterpillar in fiscal 2025.

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

Caterpillar had a net margin of 13.1% in fiscal 2025; Tesla had 4.0% in fiscal 2025.

Which grew revenue faster, Caterpillar or Tesla?

In their latest fiscal years revenue changed by +4.3% at Caterpillar and -2.9% at Tesla.

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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