Caterpillar vs Oshkosh
Caterpillar reported revenue of $67.6 billion in fiscal 2025, 6.5 times Oshkosh's $10.4 billion in fiscal 2025. Caterpillar's revenue grew 4.3% in its latest year, and Oshkosh's fell 2.9%. Caterpillar had an operating margin of 16.5%, against 9.0% at Oshkosh. Free cash flow was $8.9 billion at Caterpillar and $618 million at Oshkosh.
Side by side
| Caterpillar | Oshkosh | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $67.6B | $10.4B |
| Revenue growth | 4.3% | −2.9% |
| Revenue growth a year, last 5 years | 10.1% | 8.7% |
| Gross margin | 33.8% | 17.4% |
| Operating margin | 16.5% | 9.0% |
| Net margin | 13.1% | 6.2% |
| Free cash flow | $8.9B | $618M |
| Free cash flow margin | 13.2% | 5.9% |
| Return on capital | 18.4% | 14.8% |
| Net debt to EBITDA | 2.0x | 0.6x |
| Dividends and buybacks | $7.9B | $408M |
| Change in diluted share count | −3.5% | −1.9% |
| Last close | $692.13 | $133.34 |
| P/E at the last close | 29.8× | 14.8× |
| Insider trades, last 12 months | bought $389,868, sold $244.4 million | sold $2.0 million |
| Piotroski F-score | 6 of 9 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
CaterpillarOshkosh
Operating margin
Percent of revenue
CaterpillarOshkosh
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
CaterpillarOshkosh
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Caterpillar and Oshkosh pages.