Caterpillar Inc (CAT) — Cash Flow Quality Index
Latest as of December 2025:
1.50x
Caterpillar Inc (CAT) has a Cash Flow Quality Index of 1.50x as of December 2025. Operating cash flow of $3.59 Billion exceeds net income of $2.40 Billion, indicating high earnings quality where cash backs reported profits. Explore CAT cash flow to debt ratio to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
1.50x
Operating CF / Net Income
Operating Cash Flow
$3.59 Billion
USD
Net Income
$2.40 Billion
USD
Data as of
Dec 2025
Most recent filing
Caterpillar Inc Cash Flow Quality Index (1989–2025)
Historical Cash Flow Quality Index for Caterpillar Inc across 34 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see cash efficiency ratio of Caterpillar Inc.
Annual Cash Flow Quality Index for Caterpillar Inc (1989–2025)
Year-by-year earnings quality comparison for Caterpillar Inc.
| Year | Quality Index | Operating CF (USD) | Net Income | YoY Change |
|---|---|---|---|---|
| 2025 | 1.32x | $11.74 Billion | $8.88 Billion | ▲ +18.5% |
| 2024 | 1.12x | $12.04 Billion | $10.79 Billion | ▼ -10.5% |
| 2023 | 1.25x | $12.88 Billion | $10.33 Billion | ▲ +7.7% |
| 2022 | 1.16x | $7.77 Billion | $6.70 Billion | ▲ +4.5% |
| 2021 | 1.11x | $7.20 Billion | $6.49 Billion | ▼ -47.4% |
| 2020 | 2.11x | $6.33 Billion | $3.00 Billion | ▲ +85.8% |
| 2019 | 1.13x | $6.91 Billion | $6.09 Billion | ▲ +6.3% |
| 2018 | 1.07x | $6.56 Billion | $6.15 Billion | ▼ -85.8% |
| 2017 | 7.52x | $5.71 Billion | $759.00 Million | ▲ +183.1% |
| 2015 | 2.66x | $6.70 Billion | $2.52 Billion | ▼ -18.7% |
| 2014 | 3.26x | $8.06 Billion | $2.47 Billion | ▲ +21.8% |
| 2013 | 2.68x | $10.19 Billion | $3.80 Billion | ▲ +195.8% |
| 2012 | 0.91x | $5.18 Billion | $5.72 Billion | ▼ -35.1% |
| 2011 | 1.40x | $6.96 Billion | $4.98 Billion | ▼ -23.1% |
| 2010 | 1.82x | $5.01 Billion | $2.76 Billion | ▼ -76.9% |
| 2009 | 7.86x | $6.50 Billion | $827.00 Million | ▲ +503.0% |
| 2008 | 1.30x | $4.67 Billion | $3.58 Billion | ▼ -41.4% |
| 2007 | 2.22x | $7.96 Billion | $3.58 Billion | ▲ +35.6% |
| 2006 | 1.64x | $5.80 Billion | $3.54 Billion | ▲ +50.3% |
| 2005 | 1.09x | $3.11 Billion | $2.85 Billion | ▲ +155.6% |
| 2004 | -1.96x | $-3.99 Billion | $2.04 Billion | ▲ +61.6% |
| 2003 | -5.11x | $-5.61 Billion | $1.10 Billion | ▼ -2.8% |
| 2002 | -4.96x | $-3.96 Billion | $798.00 Million | ▼ -301.1% |
| 2001 | 2.47x | $1.99 Billion | $805.00 Million | ▲ +26.2% |
| 2000 | 1.96x | $2.06 Billion | $1.05 Billion | ▼ -28.6% |
| 1999 | 2.74x | $2.59 Billion | $946.00 Million | ▲ +133.0% |
| 1998 | 1.18x | $1.78 Billion | $1.51 Billion | ▼ -6.6% |
| 1997 | 1.26x | $2.10 Billion | $1.67 Billion | ▼ -3.9% |
| 1996 | 1.31x | $1.78 Billion | $1.36 Billion | ▼ -32.1% |
| 1995 | 1.93x | $2.19 Billion | $1.14 Billion | ▲ +4.8% |
| 1994 | 1.84x | $1.76 Billion | $955.00 Million | ▼ -10.8% |
| 1993 | 2.06x | $1.41 Billion | $681.00 Million | ▼ -47.2% |
| 1990 | 3.90x | $820.00 Million | $210.00 Million | ▲ +114.0% |
| 1989 | 1.82x | $907.00 Million | $497.00 Million | — |
Cash Flow Quality Index = Operating Cash Flow / Net Income. Ratios above 1.0x indicate cash-backed earnings.