Caterpillar (CAT) FY2021 results: revenue $51.0 billion, up 22.1% on the year
Caterpillar Inc. (CAT) reported revenue of $51.0 billion for fiscal 2021, the year ended 31 December 2021, up 22.1% on the year before. Net income was $6.5 billion, up 116.4%, and diluted earnings per share $11.83. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2022.
Revenue
$51.0 billion
+22.1% on the year
FY2014FY2021
Operating margin
13.5%
10.9% a year earlier
FY2014FY2021
Net income
$6.5 billion
+116.4% on the year
FY2014FY2021
Diluted EPS
$11.83
+116.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
7,198
6,327
6,912
+13.8%
Capital expenditure
1,093
978
1,056
+11.8%
Free cash flow
6,105
5,349
5,856
+14.1%
Free cash flow margin
12.0%
12.8%
10.9%
Cash from investing
-3,084
-1,485
-1,928
Cash from financing
-4,188
-3,755
-4,538
Depreciation and amortisation
2,352
2,432
2,577
-3.3%
Share-based compensation
200
202
205
-1.0%
Buybacks
2,668
1,130
4,047
+136.1%
Dividends paid
2,332
2,243
2,132
+4.0%
Dividend per share
$4.36
$4.12
$3.95
+5.8%
Diluted shares, weighted
548m
549m
568m
-0.0%
Shares outstanding at period end
536m
545m
550m
-1.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
16,516
15,378
14,629
+7.4%
Debt
37,789
37,163
37,657
+1.7%
Operating lease liabilities
484
457
n/a
+5.9%
Other liabilities
28,004
25,326
26,167
+10.6%
Total liabilities and equity
82,793
78,324
78,453
+5.7%
Fixed assets
12,090
12,401
12,904
-2.5%
Goodwill
6,324
6,394
6,196
-1.1%
Intangible assets
1,042
1,308
1,565
-20.3%
Securities held for sale or to maturity
1,721
1,683
1,365
+2.3%
Cash and equivalents
9,254
9,352
8,292
-1.0%
Receivables
8,477
7,317
8,568
+15.9%
Inventory
14,038
11,402
11,266
+23.1%
Other assets
29,847
28,467
28,297
+4.8%
Total assets
82,793
78,324
78,453
+5.7%
10-K for the year ended 31 December 2021, filed 16 February 2022: the filing.