Caterpillar Inc. (CAT)财务
NYSE · Industrials · Agricultural - Machinery · 员工118,000人 · CEO Joseph E. Creed
- 股价
- $622.75 -3.81%
- 市值
- $2860亿
- 企业价值
- $3240亿
- 最近财报
- Q3 '26 2026-10-29提交
- 下次财报
- 2027-02-04 EPS预期 $6.67
营收(TTM)$778亿+20.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)18.3%+0.6 百分点 对比去年同期营业利润 $143亿
净利润(TTM)$118亿+27.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)$116亿+53.8% 对比去年同期资本支出 $25.6亿
稀释EPS(TTM)$25.49+30.8% 对比去年同期最近4个季度之和
净现金-$373亿-9.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $2860亿 EV $3240亿
- 营收
- $778亿 过去12个月
- 营收增速
- +18% FY2026年一致预期
- 净利润率
- 15.2% 净利润 / 营收,TTM
- P/E
- 24.3× 预期 22.9×(FY2026)
- P/S
- 3.7× 股价 / 营收,TTM
- EV / EBITDA
- 17.7× TTM
- 自由现金流
- $116亿 过去12个月
- 净利润
- $118亿 过去12个月
- 营收预期
- $795亿 FY2026年一致预期
- 盈利
- 2027-02-04 营收预期 $209亿
- 股息
- $6.28 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-29):营收符合预期,EPS 超预期2.0%营收$207亿,预期$208亿(-0.4%);EPS $7.20,预期$7.06(+2.0%)。
- 营收增长放缓:同比17.3%Q3 '26营收$207亿,此前四个季度的平均值为18.4%。
- 营业利润率18.3%(TTM),较去年同期+0.6 百分点营收增长20.3%,营业利润增长24.2%。
- 资本支出占营收的3.3%(去年为6.2%)最近4个季度投入$25.6亿(同比-35.8%)。自由现金流$116亿,相当于净利润的98.3%。
- 股东回报$109亿 = 自由现金流的93.9%回购$80.6亿(去年为$55.3亿),股息$28.5亿,股权激励-$9000万(TTM)。
- 稀释股数一年内减少2.1%Q3 '26稀释股数4.61亿,一年前为4.71亿。
- 净债务 $373亿现金 + 短期投资 $79.3亿,含租赁债务 $452亿;一年前净债务 $340亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $207亿 | $176亿 | +17.3% |
| 毛利率 | 35.5% | 33.8% | +1.7 百分点 |
| 营业利润 | $42.1亿 | $30.5亿 | +38.1% |
| 营业利润率 | 20.4% | 17.3% | +3.1 百分点 |
| 净利润 | $32.9亿 | $22.9亿 | +43.5% |
| 稀释EPS | $7.13 | $4.89 | +45.8% |
| 经营现金流 | $43.5亿 | $37.4亿 | +16.5% |
| 资本支出 | -$9.48亿 | $10.7亿 | -188.5% |
| 自由现金流 | $53亿 | $26.7亿 | +98.8% |
| R&D | $5.96亿 | $5.55亿 | +7.4% |
| 股权激励费用 | -$2.77亿 | $7100万 | -490.1% |
实际 vs 一致预期
2026-10-29| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $207亿 | $208亿 | -0.4% |
| EPS(一致预期口径) | $7.20 | $7.06 | +2.0% |
来自2026-10-29发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Reportable Subsegments | – | – | – | – | – | |
| Energy and Transportation | – | – | – | – | – | |
| Construction Industries | $82.6亿 | +33.5% | 39.7% | $291亿 | +22.7% | |
| Power & Energy | $68亿 | – | 32.7% | – | – | |
| Resource Industries | $45.7亿 | +48.0% | 22.0% | $149亿 | +24.3% | |
| Financial Products | $11.5亿 | +9.9% | 5.5% | $44.1亿 | +7.4% | |
| Other Segments | – | – | – | – | – | |
| All Other | $1500万 | – | 0.1% | – | – |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| North America | $121亿 | +36.6% | 58.9% | $423亿 | +26.9% | |
| EMEA | $36.3亿 | +14.0% | 17.6% | $137亿 | +13.1% | |
| Asia Pacific | $30亿 | +4.2% | 14.6% | $114亿 | +3.6% | |
| Latin America | $18.2亿 | +10.0% | 8.9% | $72.3亿 | +9.5% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $142亿
- 资本支出
- -$25.6亿
- 股票回购
- -$80.6亿
- 股息
- -$28.5亿
- 收购
- -$8.83亿
- 债务净发行
- $40.2亿
- 股权激励费用
- -$9000万
- 自由现金流
- $116亿
- 股东回报 / FCF
- 93.9%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 24.3× | 19.5× | 14.6× – 30.3× |
| EV / EBITDA | 17.7× | 14.2× | 11.6× – 20.2× |
| EV / 营收 | 4.2× | 3.2× | 2.6× – 4.4× |
| 股价 / FCF | 24.6× | 23.9× | 15.4× – 35.9× |
| 股价 / 净资产 | 13.3× | 8.8× | 6.8× – 12.5× |
| FCF收益率 | 4.1% | 4.5% | 2.8% – 6.5% |
| 投入资本回报率 | 14.0% | 12.2% | 8.4% – 15.8% |
| 净资产收益率 | 58.5% | 46.3% | 39.4% – 55.4% |
分析师
一致目标价 $935.36 (+50.2%)
区间 $749.00 – $1,118.00 · 评级 Buy
强烈买入0
买入31
持有22
卖出4
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $795亿 | +17.7% | $27.17 | +44.3% | 22.9× | 13 |
| FY2027 | $885亿 | +11.3% | $32.27 | +18.8% | 19.3× | 19 |
| FY2028 | $977亿 | +10.3% | $38.83 | +20.3% | 16.0× | 10 |
| FY2029 | $1090亿 | +11.5% | $46.30 | +19.2% | 13.4× | 4 |
| FY2030 | $1130亿 | +4.2% | $49.32 | +6.5% | 12.6× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Caterpillar Inc.在近期10-Q / 10-K文件中标记的全部302项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accelerated Share Repurchase Program, Adjustment | -$2.5亿 | $0 | – | $3亿2024-12-31 | -$3亿 | +200.0% |
| Accounts Payable, Current | $103亿 | $85.6亿 | +20.4% | $89.7亿 | $76.8亿 | +16.8% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $132亿 | $97亿 | +35.9% | $109亿 | $92.8亿 | +17.6% |
| Accounts Receivable, after Allowance for Credit Loss, Noncurrent | $30.9亿 | $16.1亿 | +92.0% | $21.4亿 | $12.3亿 | +74.9% |
| Accrued Liabilities, Current | $58.3亿 | $52.1亿 | +11.9% | $55.9亿 | $52.4亿 | +6.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $168亿2025-12-31 | $161亿 | +4.0% | $168亿 | $161亿 | +4.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$18.7亿 | -$16.8亿 | -10.9% | -$17.7亿 | -$24.7亿 | +28.3% |
| Amortization of Intangible Assets | $4600万 | $4300万 | +7.0% | $1.69亿 | $1.76亿 | -4.0% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 10万 | 60万 | -83.3% | 10万 | 30万 | -66.7% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $9200万 | $8600万 | +7.0% | $2.42亿 | $2.23亿 | +8.5% |
| APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition | – | – | – | $2.3亿 | $2.23亿 | +3.1% |
| Assets | $1030亿 | $903亿 | +13.6% | $986亿 | $878亿 | +12.3% |
| Assets, Current | $545亿 | $468亿 | +16.5% | $525亿 | $457亿 | +14.9% |
| Cash and Cash Equivalents, at Carrying Value | $67.1亿 | $54.4亿 | +23.4% | $99.8亿 | $68.9亿 | +44.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $67.2亿 | $54.5亿 | +23.3% | $99.9亿 | $69亿 | +44.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $26.4亿 | $18.8亿 | +40.6% | $30.9亿 | -$8900万 | +3,571.9% |
| Common Stock, Dividends, Per Share, Declared | $3.14 | $2.92 | +7.5% | $5.94 | $5.53 | +7.4% |
| Common Stock, Par or Stated Value Per Share | $1.00 | $1.00 | 0.0% | $1.00 | $1.00 | 0.0% |
| Common Stock, Shares Authorized | 20亿 | 20亿 | 0.0% | 20亿 | 20亿 | 0.0% |
| Common Stock, Shares, Issued | 8.15亿 | 8.15亿 | 0.0% | 8.15亿 | 8.15亿 | 0.0% |
| Common Stock, Shares, Outstanding | 4.6亿 | 4.69亿 | -1.9% | 4.65亿 | 4.78亿 | -2.6% |
| Common Stocks, Including Additional Paid in Capital | $56.5亿 | $61.4亿 | -8.0% | $71.8亿 | $69.4亿 | +3.5% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $36.1亿 | $27亿 | +33.6% | $95.8亿 | $101亿 | -5.5% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $36.1亿 | $27亿 | +33.6% | $95.8亿 | $101亿 | -5.5% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $2.77亿 | $2.27亿 | +22.0% | $2.97亿 | $2.38亿 | +24.8% |
| Contract with Customer, Liability | $72.8亿 | $40.4亿 | +80.1% | $46.8亿 | $27.5亿 | +70.4% |
| Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Estimate of Transaction Price | $1800万2025-12-31 | – | – | -$4.97亿 | – | – |
| Contract with Customer, Liability, Current | $47.8亿 | $34.1亿 | +40.0% | $33.1亿 | $23.2亿 | +42.7% |
| Contract with Customer, Liability, Revenue Recognized | $5.07亿 | $4.62亿 | +9.7% | $18.9亿 | $15.9亿 | +19.0% |
| Contract with Customer, Receivable, after Allowance for Credit Loss, Current | $109亿 | $83.5亿 | +30.7% | $94亿 | $78.6亿 | +19.6% |
| Contract with Customer, Receivable, after Allowance for Credit Loss, Noncurrent | $12.7亿 | $6.82亿 | +86.8% | $10.1亿 | $6.4亿 | +57.2% |
| Cost of Goods and Services Sold | – | – | – | $4900万 | $3300万 | +48.5% |
| Cost of Revenue | $128亿 | $108亿 | +18.3% | $448亿 | $402亿 | +11.3% |
| Costs and Expenses | $162亿 | $137亿 | +18.5% | $564亿 | $517亿 | +9.1% |
| Current Federal Tax Expense (Benefit) | – | – | – | $8.04亿 | $15.8亿 | -49.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $13.9亿 | $15.3亿 | -9.2% |
| Current Income Tax Expense (Benefit) | – | – | – | $23亿 | $32.5亿 | -29.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.09亿 | $1.35亿 | -19.3% |
| Debt and Equity Securities, Gain (Loss) | $4100万 | $2800万 | +46.4% | $3000万 | $3900万 | -23.1% |
| Debt Securities, Available-for-sale | $39.6亿 | $33.9亿 | +16.8% | $35.5亿 | $40.4亿 | -12.2% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax | -$1500万 | -$1400万 | -7.1% | $1400万 | -$7200万 | +119.4% |
| Debt Securities, Available-for-sale, Amortized Cost | $39.7亿 | $34亿 | +16.8% | $35.4亿 | $41.1亿 | -14.1% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | $2.13亿 | $1.44亿 | +47.9% | $2.02亿 | $1.02亿 | +98.0% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $4.41亿 | $2.94亿 | +50.0% | $3.78亿 | $3.04亿 | +24.3% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $16.9亿 | $14.5亿 | +16.7% | $14.9亿 | $18.2亿 | -18.2% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $8.82亿 | $8.73亿 | +1.0% | $7.44亿 | $12.7亿 | -41.6% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $7.38亿 | $8.92亿 | -17.3% | $7.63亿 | $12.9亿 | -40.9% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $3000万 | $4300万 | -30.2% | $2600万 | $7500万 | -65.3% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $16.9亿 | $1.77亿 | +855.9% | $1.77亿 | $8.75亿 | -79.8% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $500万 | $100万 | +400.0% | $0 | $600万 | -100.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | $2.13亿 | $1.43亿 | +49.0% | $2.02亿 | $1.02亿 | +98.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $4.39亿 | $2.97亿 | +47.8% | $3.83亿 | $3.01亿 | +27.2% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $16.9亿 | $14.5亿 | +16.0% | $15亿 | $17.9亿 | -16.2% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $8.92亿 | $8.75亿 | +1.9% | $7.48亿 | $12.7亿 | -41.1% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $24.3亿 | $10.7亿 | +127.3% | $9.4亿 | $21.7亿 | -56.6% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $3500万 | $4400万 | -20.5% | $2600万 | $8100万 | -67.9% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $3.93亿 | -$5.53亿 | +171.1% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $5600万 | -$6900万 | +181.2% |
| Deferred Income Tax Expense (Benefit) | $1.1亿 | -$7200万 | +252.8% | $4.65亿 | -$6.21亿 | +174.9% |
| Deferred Income Tax Liabilities, Net | $4.94亿2025-12-31 | $4.32亿 | +14.4% | $4.94亿 | $4.32亿 | +14.4% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-01