Caterpillar (CAT) Debt/Equity Ratio: History & Chart

Caterpillar Inc.(CAT)

Agricultural - Machinery · Irving, TX

$791.09+7.55 (+0.96%)

Delayed quote: Sep 16, 2026, 12:55 PM EDT

About Caterpillar Inc.

Caterpillar Inc., a global enterprise founded in 1925 and headquartered in Deerfield, Illinois (having previously operated as Caterpillar Tractor Co. until its rebranding in 1986), is a premier manufacturer and vendor of heavy construction and mining equipment, diesel and natural gas power units, and industrial gas turbines across the world. The company's extensive offerings are organized into several operational divisions: Construction Industries: This segment delivers a broad spectrum of machinery for construction projects, including asphalt pavers, versatile backhoe and skid steer loaders, various sizes of excavators (from compact to heavy-duty), compactors, road-building equipment like cold planers and motorgraders, pipelayers, site preparation tractors, telehandlers, and utility vehicles, alongside a range of wheel loaders and track-type equipment. Resource Industries: Dedicated to the mining sector, this division supplies powerful equipment such as electric rope and hydraulic shovels, draglines, rotary drills, specialized hard rock vehicles, and a diverse fleet of mining, off-highway, and articulated trucks. It also offers longwall miners, wheel dozers, fleet management systems, autonomous vehicle solutions, crucial machinery components, selected work tools, and comprehensive safety and performance solutions for mining operations. Energy & Transportation: This segment focuses on power generation and propulsion systems. It provides reciprocating engines, generator sets, integrated power solutions, industrial turbines and associated services, remanufactured engines and parts, centrifugal gas compressors, and diesel-electric locomotives with related components and services. These products serve critical sectors including marine, oil and gas, industrial applications, and electric power generation. Financial Products: This segment supports customers with a variety of financial services, such as operating and finance leases, installment sale agreements, working capital loans, and wholesale financing schemes. It also offers insurance and risk management products tailored for vehicles, power generation facilities, and marine vessels. All Other: This encompassing segment is responsible for manufacturing essential consumables and components like filters, fluids, undercarriage parts, and ground engaging tools.

Irving, TX

118,000 employees

www.caterpillar.com

Industrials / Agricultural - Machinery

Sector: Industrials
Industry: Agricultural - Machinery
CEO: Joseph E. Creed

View full financials

CAT Debt to Equity Ratio Metrics

DEBT TO EQUITY RATIO

2.33

DEBT TO EQUITY RATIO AVG TTM

2.17

DEBT TO EQUITY RATIO AVG 3Y

2.08

DEBT TO EQUITY RATIO AVG 5Y

2.15

DEBT TO EQUITY RATIO AVG 10Y

2.32

DEBT TO EQUITY RATIO AVG 15Y

2.31

DEBT TO EQUITY RATIO AVG 20Y

2.48

CURRENT VS TTM AVG

+7.15%

CURRENT VS 3Y AVG

+11.79%

CURRENT VS 5Y AVG

+8.46%

CURRENT VS 10Y AVG

+0.17%

CURRENT VS 15Y AVG

+0.75%

CURRENT VS 20Y AVG

-6.29%

SECTOR MEDIAN · INDUSTRIALS

0.59

median of 149 covered companies

CURRENT VS SECTOR MEDIAN

+294.53%

vs the sector median at left

NAME	MARKET CAP	DEBT TO EQUITY RATIO	TTM	3Y	5Y
Caterpillar Inc. (CAT)	$364.41B	2.33	2.17	2.08	2.15
GE Aerospace (GE)vs ›	$329.88B	1.09	1.08	0.93	1.14
RTX Corporation (RTX)vs ›	$266.10B	0.59	0.66	0.64	0.57
GE Vernova Inc. (GEV)vs ›	$247.34B	0.33	0.09	0.14	0.14
Siemens AG (SIEGY)vs ›	$231.16B	0.73	0.92	0.96	1.03
Deere & Company (DE)vs ›	$181.58B	2.29	2.46	2.75	2.69
Schneider Electric S.E. (SBGSY)vs ›	$181.38B	0.78	0.64	0.56	0.54
ABB Ltd (ABBNY)vs ›	$173.15B	0.56	0.55	0.61	0.55
Union Pacific Corporation (UNP)vs ›	$167.97B	1.51	1.82	2.21	2.12
The Boeing Company (BA)vs ›	$166.57B	7.52	9.98	9.98	9.98

NAME

MARKET CAP

DEBT TO EQUITY RATIO

TTM

Caterpillar Inc. (CAT)

$364.41B

2.33

2.17

2.08

2.15

GE Aerospace (GE)vs ›

$329.88B

1.09

1.08

0.93

1.14

RTX Corporation (RTX)vs ›

$266.10B

0.59

0.66

0.64

0.57

GE Vernova Inc. (GEV)vs ›

$247.34B

0.33

0.09

0.14

Siemens AG (SIEGY)vs ›

$231.16B

0.73

0.92

0.96

1.03

Deere & Company (DE)vs ›

$181.58B

2.29

2.46

2.75

2.69

Schneider Electric S.E. (SBGSY)vs ›

$181.38B

0.78

0.64

0.56

0.54

ABB Ltd (ABBNY)vs ›

$173.15B

0.56

0.55

0.61

0.55

Union Pacific Corporation (UNP)vs ›

$167.97B

1.51

1.82

2.21

2.12

The Boeing Company (BA)vs ›

$166.57B

7.52

9.98

Debt to Equity Ratio FAQ

What is the debt to equity ratio for Caterpillar Inc. (CAT)?

The debt to equity ratio for CAT stock is 2.33.

Is Caterpillar Inc.'s debt to equity ratio high or low?

The debt to equity ratio of 2.33 is in line with its 5-year average of 2.15, near the high end of its 5-year range (1.81–2.35).

What is the TTM average debt to equity ratio for Caterpillar Inc. (CAT)?

The TTM average debt to equity ratio for CAT stock is 2.17.

What is the 3Y average debt to equity ratio for Caterpillar Inc. (CAT)?

The 3Y average debt to equity ratio for CAT stock is 2.08.

What is the 5Y average debt to equity ratio for Caterpillar Inc. (CAT)?

The 5Y average debt to equity ratio for CAT stock is 2.15.

What is the 10Y average debt to equity ratio for Caterpillar Inc. (CAT)?

The 10Y average debt to equity ratio for CAT stock is 2.32.

What is the 15Y average debt to equity ratio for Caterpillar Inc. (CAT)?

The 15Y average debt to equity ratio for CAT stock is 2.31.

What is the 20Y average debt to equity ratio for Caterpillar Inc. (CAT)?

The 20Y average debt to equity ratio for CAT stock is 2.48.

DATE	DEBT TO EQUITY RATIO
2026-06-30	2.33
2026-03-31	2.31
2025-12-31	2.03
2025-09-30	2.01
2025-06-30	2.18
2025-03-31	2.14
2024-12-31	1.97
2024-09-30	1.95
2024-06-30	2.18
2024-03-31	2.15
2023-12-31	1.94
2023-09-30	1.81
2023-06-30	2.07
2023-03-31	2.04
2022-12-31	2.33
2022-09-30	2.34
2022-06-30	2.35
2022-03-31	2.20
2021-12-31	2.29
2021-09-30	2.21
2021-06-30	2.23
2021-03-31	2.30
2020-12-31	2.42
2020-09-30	2.55
2020-06-30	2.81
2020-03-31	2.61
2019-12-31	2.58
2019-09-30	2.54
2019-06-30	2.45
2019-03-31	2.32
2018-12-31	2.60
2018-09-30	2.26
2018-06-30	2.43
2018-03-31	2.32
2017-12-31	2.55
2017-09-30	2.30
2017-06-30	2.65
2017-03-31	2.82
2016-12-31	2.80
2016-09-30	2.37
2016-06-30	2.52
2016-03-31	2.45
2015-12-31	2.57
2015-09-30	2.36
2015-06-30	2.24
2015-03-31	2.29
2014-12-31	2.35
2014-09-30	2.09
2014-06-30	1.93
2014-03-31	1.88
2013-12-31	1.81
2013-09-30	2.18
2013-06-30	2.24
2013-03-31	2.22
2012-12-31	2.29
2012-09-30	2.23
2012-06-30	2.47
2012-03-31	2.40
2011-12-31	2.69
2011-09-30	2.42
2011-06-30	2.57
2011-03-31	2.34
2010-12-31	2.63
2010-09-30	2.91
2010-06-30	3.17
2010-03-31	3.37
2009-12-31	3.62
2009-09-30	4.03
2009-06-30	4.58
2009-03-31	5.60
2008-12-31	5.84
2008-09-30	3.54
2008-06-30	3.27
2008-03-31	3.23
2007-12-31	3.20
2007-09-30	3.19
2007-06-30	3.52
2007-03-31	3.65
2006-12-31	3.98
2006-09-30	3.04
2006-06-30	3.16
2006-03-31	2.89
2005-12-31	3.05
2005-09-30	2.98
2005-06-30	3.18
2005-03-31	3.15
2004-12-31	3.15
2004-09-30	3.17
2004-06-30	3.24
2004-03-31	3.30
2003-12-31	3.34
2003-09-30	2.98
2003-06-30	3.06
2003-03-31	3.24
2002-12-31	3.26
2002-09-30	2.97

DATE

DEBT TO EQUITY RATIO

2026-06-30

2.33

2026-03-31

2.31

2025-12-31

2.03

2025-09-30

2.01

2025-06-30

2.18

2025-03-31

2.14

2024-12-31

1.97

2024-09-30

1.95

2024-06-30

2.18

2024-03-31

2.15

2023-12-31

1.94

2023-09-30

1.81

2023-06-30

2.07

2023-03-31

2.04

2022-12-31

2.33

2022-09-30

2.34

2022-06-30

2.35

2022-03-31

2.20

2021-12-31

2.29

2021-09-30

2.21

2021-06-30

2.23

2021-03-31

2.30

2020-12-31

2.42

2020-09-30

2.55

2020-06-30

2.81

2020-03-31

2.61

2019-12-31

2.58

2019-09-30

2.54

2019-06-30

2.45

2019-03-31

2.32

2018-12-31

2.60

2018-09-30

2.26

2018-06-30

2.43

2018-03-31

2.32

2017-12-31

2.55

2017-09-30

2.30

2017-06-30

2.65

2017-03-31

2.82

2016-12-31

2.80

2016-09-30

2.37

2016-06-30

2.52

2016-03-31

2.45

2015-12-31

2.57

2015-09-30

2.36

2015-06-30

2.24

2015-03-31

2.29

2014-12-31

2.35

2014-09-30

2.09

2014-06-30

1.93

2014-03-31

1.88

2013-12-31

1.81

2013-09-30

2.18

2013-06-30

2.24

2013-03-31

2.22

2012-12-31

2.29

2012-09-30

2.23

2012-06-30

2.47

2012-03-31

2.40

2011-12-31

2.69

2011-09-30

2.42

2011-06-30

2.57

2011-03-31

2.34

2010-12-31

2.63

2010-09-30

2.91

2010-06-30

3.17

2010-03-31

3.37

2009-12-31

3.62

2009-09-30

4.03

2009-06-30

4.58

2009-03-31

5.60

2008-12-31

5.84

2008-09-30

3.54

2008-06-30

3.27

2008-03-31

3.23

2007-12-31

3.20

2007-09-30

3.19

2007-06-30

3.52

2007-03-31

3.65

2006-12-31

3.98

2006-09-30

3.04

2006-06-30

3.16

2006-03-31

2.89

2005-12-31

3.05

2005-09-30

2.98

2005-06-30

3.18

2005-03-31

3.15

2004-12-31

3.15

2004-09-30

3.17

2004-06-30

3.24

2004-03-31

3.30

2003-12-31

3.34

2003-09-30

2.98

2003-06-30

3.06

2003-03-31

3.24

2002-12-31

3.26

2002-09-30

2.97

Debt to Equity Ratio: 2.33

CAT Debt to Equity Ratio

CAT Average Debt to Equity Ratio Chart

CAT Current vs Average Debt to Equity Ratio Chart

CAT Debt to Equity Ratio Metrics

CAT Competitors' Debt to Equity Ratio

Financial Health

Debt to Equity Ratio Formula & Definition

Debt to Equity Ratio FAQ

CAT Debt to Equity Ratio History

Related Metrics