Caterpillar (CAT) Margins & Profitability 2020-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 37.8%
EBITDA Margin: 23.9%
Op. Margin: 20.9%
Net Margin: 17.5%

Op. margin of 20.9% is up 3.6% YoY — cost efficiency is improving. Net margin at 17.5% and gross margin of 37.8% show how much of each revenue dollar survives to profit.

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit