Caterpillar (CAT) Margins & Profitability 2020-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 35.1%
EBITDA Margin: 21.1%
Op. Margin: 17.7%
Net Margin: 14.6%

Op. margin of 17.7% is down 0.4% YoY — costs are rising relative to revenue. Net margin at 14.6% and gross margin of 35.1% — earnings take a bigger bite when COGS stays lean..

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