Caterpillar (CAT) FY2017 results: revenue $45.5 billion, up 18.0% on the year
Caterpillar Inc. (CAT) reported revenue of $45.5 billion for fiscal 2017, the year ended 31 December 2017, up 18.0% on the year before. Net income was $754 million, and diluted earnings per share $1.26. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2018.
Revenue
$45.5 billion
+18.0% on the year
FY2010FY2017
Operating margin
9.8%
3.0% a year earlier
FY2010FY2017
Net income
$754 million
FY2010FY2017
Diluted EPS
$1.26
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
45,462
38,537
47,011
+18.0%
Cost of revenue
31,260
28,044
33,546
+11.5%
Gross profit
14,202
10,493
13,465
+35.3%
Gross margin
31.2%
27.2%
28.6%
Research and development
1,842
1,853
2,119
-0.6%
Selling, general and administrative
4,999
4,383
4,951
+14.1%
Operating income
4,460
1,162
3,785
+283.8%
Operating margin
9.8%
3.0%
8.1%
Pre-tax income
4,082
139
3,439
+2,836.7%
Income tax
3,339
192
916
+1,639.1%
Effective tax rate
81.8%
138.1%
26.6%
Net income
754
-67.0
2,512
Net margin
1.7%
-0.2%
5.3%
Diluted EPS
$1.26
-$0.11
$4.18
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,706
5,639
6,699
+1.2%
Capital expenditure
898
1,109
1,388
-19.0%
Free cash flow
4,808
4,530
5,311
+6.1%
Free cash flow margin
10.6%
11.8%
11.3%
Cash from investing
-966
n/a
n/a
Cash from financing
-3,657
n/a
n/a
Depreciation and amortisation
2,877
3,034
3,046
-5.2%
Share-based compensation
206
218
283
-5.5%
Buybacks
0.0
0.0
2,025
Dividends paid
1,831
1,799
1,757
+1.8%
Dividend per share
$3.11
$3.08
$3.01
+1.0%
Diluted shares, weighted
599m
584m
601m
+2.6%
Shares outstanding at period end
598m
586m
582m
+1.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
13,766
13,213
14,885
+4.2%
Debt
34,878
36,783
38,013
-5.2%
Other liabilities
28,318
24,708
25,599
+14.6%
Total liabilities and equity
76,962
74,704
78,497
+3.0%
Fixed assets
14,155
15,322
16,090
-7.6%
Goodwill
6,200
6,020
6,615
+3.0%
Intangible assets
2,111
2,349
2,821
-10.1%
Cash and equivalents
8,320
7,199
6,511
+15.6%
Receivables
7,436
5,981
6,695
+24.3%
Inventory
10,018
8,614
9,700
+16.3%
Other assets
28,722
29,219
30,065
-1.7%
Total assets
76,962
74,704
78,497
+3.0%
10-K for the year ended 31 December 2017, filed 15 February 2018: the filing.