Caterpillar Inc Cash Flow Conversion Efficiency
Caterpillar Inc cash flow conversion efficiency. Based on the latest financial reports, Caterpillar Inc (CAT) has a cash flow conversion efficiency ratio of 0.168x as of December 2025. Cash flow conversion efficiency measures how effectively a company's net assets (equity) generate operating cash flow. It is calculated by dividing operating cash flow ($3.59 Billion) by net assets ($21.32 Billion). A higher ratio indicates that the company is more efficient at using its equity to generate cash flow from its core operations.
Cash Flow Conversion Efficiency of Caterpillar Inc (1989–2025)
Cash flow conversion efficiency of Caterpillar Inc from 1989 to 2025. This chart illustrates how Caterpillar Inc's cash flow conversion efficiency has evolved over time, based on yearly financial data. View CAT share price today for real-time trading data and today's change.
Caterpillar Inc Cash Flow Conversion Ratio Explained
Caterpillar Inc cash flow conversion ratio divides operating cash flow by net assets, so a higher ratio means more cash generated from each unit of shareholder equity.
Caterpillar Inc Competitors by Cash Flow Conversion Efficiency
The table below lists competitors of Caterpillar Inc ranked by their cash flow conversion efficiency. Also see market value of Caterpillar Inc for the company's overall valuation and market capitalisation.
| Company | Cash Flow Conversion Efficiency |
|---|---|
|
Morgan Stanley
SA:MSBR34
|
-0.030x |
|
Philip Morris International Inc
NYSE:PM
|
-0.825x |
|
Lam Research Corp
NASDAQ:LRCX
|
0.108x |
|
Cisco Systems Inc
NASDAQ:CSCO
|
0.038x |
|
Morgan Stanley
NYSE:MS
|
-0.062x |
|
AstraZeneca PLC
MX:AZNN
|
0.048x |
|
General Electric Company
SA:GEOO34
|
0.179x |
|
Royal Bank of Canada
TO:RY
|
0.026x |
Annual Cash Flow Conversion Efficiency for Caterpillar Inc (1989–2025)
The table below shows the annual cash flow conversion efficiency of Caterpillar Inc from 1989 to 2025. Review Caterpillar Inc (CAT) free cash flow to assess how much free cash flow the company generates relative to operating cash flow.
| Year | Net Assets | Operating Cash Flow | Cash Flow Conversion Efficiency | Change |
|---|---|---|---|---|
| 2025-12-31 | $21.32 Billion | $11.74 Billion | 0.551x | -10.81% |
| 2024-12-31 | $19.49 Billion | $12.04 Billion | 0.617x | -6.55% |
| 2023-12-31 | $19.50 Billion | $12.88 Billion | 0.661x | +35.19% |
| 2022-12-31 | $15.89 Billion | $7.77 Billion | 0.489x | +12.13% |
| 2021-12-31 | $16.52 Billion | $7.20 Billion | 0.436x | +5.93% |
| 2020-12-31 | $15.38 Billion | $6.33 Billion | 0.411x | -12.92% |
| 2019-12-31 | $14.63 Billion | $6.91 Billion | 0.472x | +1.44% |
| 2018-12-31 | $14.08 Billion | $6.56 Billion | 0.466x | +12.37% |
| 2017-12-31 | $13.77 Billion | $5.71 Billion | 0.414x | -2.88% |
| 2016-12-31 | $13.21 Billion | $5.64 Billion | 0.427x | -5.17% |
| 2015-12-31 | $14.88 Billion | $6.70 Billion | 0.450x | -6.01% |
| 2014-12-31 | $16.83 Billion | $8.06 Billion | 0.479x | -1.90% |
| 2013-12-31 | $20.88 Billion | $10.19 Billion | 0.488x | +65.55% |
| 2012-12-31 | $17.58 Billion | $5.18 Billion | 0.295x | -45.21% |
| 2011-12-31 | $12.93 Billion | $6.96 Billion | 0.538x | +16.71% |
| 2010-12-31 | $10.86 Billion | $5.01 Billion | 0.461x | -34.02% |
| 2009-12-31 | $9.30 Billion | $6.50 Billion | 0.699x | +0.43% |
| 2008-12-31 | $6.71 Billion | $4.67 Billion | 0.696x | -21.31% |
| 2007-12-31 | $9.00 Billion | $7.96 Billion | 0.884x | +4.59% |
| 2006-12-31 | $6.86 Billion | $5.80 Billion | 0.845x | +129.00% |
| 2005-12-31 | $8.43 Billion | $3.11 Billion | 0.369x | +169.07% |
| 2004-12-31 | $7.47 Billion | $-3.99 Billion | -0.534x | +42.10% |
| 2003-12-31 | $6.08 Billion | $-5.61 Billion | -0.923x | -27.50% |
| 2002-12-31 | $5.47 Billion | $-3.96 Billion | -0.724x | -304.46% |
| 2001-12-31 | $5.61 Billion | $1.99 Billion | 0.354x | -3.69% |
| 2000-12-31 | $5.60 Billion | $2.06 Billion | 0.368x | -22.42% |
| 1999-12-31 | $5.46 Billion | $2.59 Billion | 0.474x | +36.77% |
| 1998-12-31 | $5.13 Billion | $1.78 Billion | 0.347x | -22.64% |
| 1997-12-31 | $4.68 Billion | $2.10 Billion | 0.448x | +3.47% |
| 1996-12-31 | $4.12 Billion | $1.78 Billion | 0.433x | -33.02% |
| 1995-12-31 | $3.39 Billion | $2.19 Billion | 0.646x | +7.10% |
| 1994-12-31 | $2.91 Billion | $1.76 Billion | 0.604x | -5.53% |
| 1993-12-31 | $2.20 Billion | $1.41 Billion | 0.639x | +100.06% |
| 1992-12-31 | $1.57 Billion | $503.00 Million | 0.319x | +101.48% |
| 1991-12-31 | $4.04 Billion | $641.00 Million | 0.159x | -12.24% |
| 1990-12-31 | $4.54 Billion | $820.00 Million | 0.181x | -10.91% |
| 1989-12-31 | $4.47 Billion | $907.00 Million | 0.203x | -- |
About Caterpillar Inc
Caterpillar Inc. manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. Its Construction Industries segment offers asphalt pavers, cold planers, compactors, forestry machines, material handlers, motor graders, pipelayers, road reclaimers, telehandlers, … Read more