Caterpillar Inc (CAT) — Capital Reinvestment Ratio
Caterpillar Inc (CAT) has a Capital Reinvestment Ratio of 0.12x as of December 2025, meaning it reinvests 0% of its operating cash flow ($3.59 Billion) in capital expenditures ($444.00 Million). Check Caterpillar Inc (CAT) tangible net worth to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Caterpillar Inc Capital Reinvestment Ratio (1989–2025)
This chart tracks Caterpillar Inc's Capital Reinvestment Ratio across 34 annual periods. For the full cash flow conversion analysis, see Caterpillar Inc (CAT) cash conversion ratio.
Annual Capital Reinvestment Ratio for Caterpillar Inc (1989–2025)
Year-by-year Capital Reinvestment Ratio for Caterpillar Inc from 1989 to 2025. See CAT cash flow after capex ratio to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.12x | $11.74 Billion | $1.47 Billion | ▼ -53.3% |
| 2024 | 0.27x | $12.04 Billion | $3.21 Billion | ▲ +11.3% |
| 2023 | 0.24x | $12.88 Billion | $3.09 Billion | ▼ -28.3% |
| 2022 | 0.33x | $7.77 Billion | $2.60 Billion | ▼ -2.6% |
| 2021 | 0.34x | $7.20 Billion | $2.47 Billion | ▲ +2.7% |
| 2020 | 0.33x | $6.33 Billion | $2.12 Billion | ▼ -13.4% |
| 2019 | 0.39x | $6.91 Billion | $2.67 Billion | ▼ -13.2% |
| 2018 | 0.44x | $6.56 Billion | $2.92 Billion | ▲ +8.6% |
| 2017 | 0.41x | $5.71 Billion | $2.34 Billion | ▼ -21.2% |
| 2016 | 0.52x | $5.64 Billion | $2.93 Billion | ▲ +6.7% |
| 2015 | 0.49x | $6.70 Billion | $3.26 Billion | ▲ +16.1% |
| 2014 | 0.42x | $8.06 Billion | $3.38 Billion | ▼ -3.9% |
| 2013 | 0.44x | $10.19 Billion | $4.45 Billion | ▼ -55.4% |
| 2012 | 0.98x | $5.18 Billion | $5.08 Billion | ▲ +73.6% |
| 2011 | 0.56x | $6.96 Billion | $3.92 Billion | ▲ +9.3% |
| 2010 | 0.52x | $5.01 Billion | $2.59 Billion | ▲ +35.7% |
| 2009 | 0.38x | $6.50 Billion | $2.47 Billion | ▼ -54.3% |
| 2008 | 0.83x | $4.67 Billion | $3.89 Billion | ▲ +117.7% |
| 2007 | 0.38x | $7.96 Billion | $3.04 Billion | ▼ -17.2% |
| 2006 | 0.46x | $5.80 Billion | $2.67 Billion | ▼ -40.5% |
| 2005 | 0.78x | $3.11 Billion | $2.42 Billion | ▼ -21.7% |
| 2001 | 0.99x | $1.99 Billion | $1.97 Billion | ▲ +46.9% |
| 2000 | 0.67x | $2.06 Billion | $1.39 Billion | ▲ +36.4% |
| 1999 | 0.49x | $2.59 Billion | $1.28 Billion | ▼ -30.8% |
| 1998 | 0.71x | $1.78 Billion | $1.27 Billion | ▲ +35.3% |
| 1997 | 0.53x | $2.10 Billion | $1.11 Billion | ▲ +22.0% |
| 1996 | 0.43x | $1.78 Billion | $771.00 Million | ▲ +39.5% |
| 1995 | 0.31x | $2.19 Billion | $679.00 Million | ▼ -21.5% |
| 1994 | 0.39x | $1.76 Billion | $694.00 Million | ▼ -12.2% |
| 1993 | 0.45x | $1.41 Billion | $632.00 Million | ▼ -64.6% |
| 1992 | 1.27x | $503.00 Million | $640.00 Million | ▲ +5.4% |
| 1991 | 1.21x | $641.00 Million | $774.00 Million | ▼ -4.7% |
| 1990 | 1.27x | $820.00 Million | $1.04 Billion | ▲ +5.5% |
| 1989 | 1.20x | $907.00 Million | $1.09 Billion | — |