Caterpillar Inc (CAT) — Free Cash Flow Generation Index
Caterpillar Inc (CAT) has a Free Cash Flow Generation Index of 0.88x as of December 2025. Free cash flow of $3.15 Billion represents 1% of operating cash flow ($3.59 Billion). Explore CAT capex to operating cash flow ratio to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Caterpillar Inc Free Cash Flow Generation Index (1989–2025)
Historical FCF Generation Index trend for Caterpillar Inc across 34 annual periods. For the full cash flow conversion analysis, see Caterpillar Inc (CAT) cash conversion ratio.
Annual Free Cash Flow Generation for Caterpillar Inc (1989–2025)
Year-by-year Free Cash Flow Generation Index for Caterpillar Inc. Check Caterpillar Inc (CAT) reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.88x | $10.27 Billion | $11.74 Billion | $1.47 Billion | ▲ +19.4% |
| 2024 | 0.73x | $8.82 Billion | $12.04 Billion | $3.21 Billion | ▼ -3.6% |
| 2023 | 0.76x | $9.79 Billion | $12.88 Billion | $3.09 Billion | ▲ +14.2% |
| 2022 | 0.67x | $5.17 Billion | $7.77 Billion | $2.60 Billion | ▲ +1.3% |
| 2021 | 0.66x | $4.73 Billion | $7.20 Billion | $2.47 Billion | ▼ -1.4% |
| 2020 | 0.67x | $4.21 Billion | $6.33 Billion | $2.12 Billion | ▲ +8.4% |
| 2019 | 0.61x | $4.24 Billion | $6.91 Billion | $2.67 Billion | ▲ +10.5% |
| 2018 | 0.56x | $3.64 Billion | $6.56 Billion | $2.92 Billion | ▼ -6.0% |
| 2017 | 0.59x | $3.37 Billion | $5.71 Billion | $2.34 Billion | ▲ +22.8% |
| 2016 | 0.48x | $2.71 Billion | $5.64 Billion | $2.93 Billion | ▼ -6.3% |
| 2015 | 0.51x | $3.44 Billion | $6.70 Billion | $3.26 Billion | ▼ -11.6% |
| 2014 | 0.58x | $4.68 Billion | $8.06 Billion | $3.38 Billion | ▲ +3.0% |
| 2013 | 0.56x | $5.75 Billion | $10.19 Billion | $4.45 Billion | ▲ +2605.9% |
| 2012 | 0.02x | $108.00 Million | $5.18 Billion | $5.08 Billion | ▼ -95.2% |
| 2011 | 0.44x | $3.03 Billion | $6.96 Billion | $3.92 Billion | ▼ -9.9% |
| 2010 | 0.48x | $2.42 Billion | $5.01 Billion | $2.59 Billion | ▼ -21.9% |
| 2009 | 0.62x | $4.03 Billion | $6.50 Billion | $2.47 Billion | ▲ +268.3% |
| 2008 | 0.17x | $786.00 Million | $4.67 Billion | $3.89 Billion | ▼ -72.8% |
| 2007 | 0.62x | $4.92 Billion | $7.96 Billion | $3.04 Billion | ▲ +14.7% |
| 2006 | 0.54x | $3.12 Billion | $5.80 Billion | $2.67 Billion | ▲ +140.3% |
| 2005 | 0.22x | $698.00 Million | $3.11 Billion | $2.42 Billion | ▲ +2244.9% |
| 2001 | 0.01x | $19.00 Million | $1.99 Billion | $1.97 Billion | ▼ -97.1% |
| 2000 | 0.33x | $671.00 Million | $2.06 Billion | $1.39 Billion | ▼ -35.6% |
| 1999 | 0.51x | $1.31 Billion | $2.59 Billion | $1.28 Billion | ▲ +76.7% |
| 1998 | 0.29x | $509.00 Million | $1.78 Billion | $1.27 Billion | ▼ -39.4% |
| 1997 | 0.47x | $990.00 Million | $2.10 Billion | $1.11 Billion | ▼ -16.7% |
| 1996 | 0.57x | $1.01 Billion | $1.78 Billion | $771.00 Million | ▼ -17.8% |
| 1995 | 0.69x | $1.51 Billion | $2.19 Billion | $679.00 Million | ▲ +14.0% |
| 1994 | 0.61x | $1.06 Billion | $1.76 Billion | $694.00 Million | ▲ +10.0% |
| 1993 | 0.55x | $773.00 Million | $1.41 Billion | $632.00 Million | ▲ +302.0% |
| 1992 | -0.27x | $-137.00 Million | $503.00 Million | $640.00 Million | ▼ -31.3% |
| 1991 | -0.21x | $-133.00 Million | $641.00 Million | $774.00 Million | ▲ +22.3% |
| 1990 | -0.27x | $-219.00 Million | $820.00 Million | $1.04 Billion | ▼ -33.1% |
| 1989 | -0.20x | $-182.00 Million | $907.00 Million | $1.09 Billion | — |