CAT Caterpillar Inc.

Q3 2025 10-Q

Filed: Nov 3, 2025Period ending Sep 30, 2025

Industrials

Construction Machinery & EquipSEC EDGAR

Caterpillar Inc. (CAT) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 3, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

AI Filing Analysis
Q3 2025 10-Q

Management Discussion & Analysis

• Revenue Q3 2025 $17.638B, up 10% ($1.532B) YoY from $16.106B in Q3 2024; nine months 2025 $48.456B, slightly down $138M YoY from $48.594B
• Operating margin Q3 2025 17.3% vs 19.5% in Q3 2024; nine months margin 17.5% vs 20.9% YoY; adjusted margins Q3 17.5% vs 20.0%, nine months 17.8% vs 21.5%

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Risk Factors

• No new or changed risk factors from 2024 10-K for fiscal 2025 quarter
• Carried-forward operational risk: global economic slowdown impacting equipment demand

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Quarterly Financial Summary
XBRL

Revenue

$17.6B

▲ +9.5% YoY▲ +6.5% QoQ

Net Income

$2.3B

▼ -6.7% YoY▲ +5.6% QoQ

Net Margin

13.0%

▼ -226bp YoY▼ -11bp QoQ

Source: XBRL data from Caterpillar Inc. Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

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