CAT vs IBM
Caterpillar Inc. and International Business Machines Corporation, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | CAT | IBM |
|---|---|---|
| Revenue | $67.6B | $67.5B |
| Net income | $8.9B | $10.6B |
| Gross margin | 99.9% | 58.2% |
| Net margin | 13.1% | 15.7% |
| Return on equity | — | 35.3% |
| Diluted EPS | $18.81 | $11.17 |
| Dividend / share | $5.94 | $6.71 |
| Payout ratio | 31.0% | 59.0% |
| Free cash flow | $8.9B | $12.1B |
| Equity | — | $32.6B |
| Net debt / equity | — | 1.46× |
| Current ratio | 1.44× | 0.96× |
| Revenue CAGR 5y | 10.1% | 4.1% |
| Profit CAGR 5y | 24.2% | 13.6% |
CAT and IBM book revenue within 15% of each other, and IBM keeps more of each dollar of revenue as profit (15.7% against 13.1%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | CAT | IBM |
|---|---|---|
| FY2025 | $67.6B | $67.5B |
| FY2024 | $64.8B | $62.8B |
| FY2023 | $67.1B | $61.9B |
| FY2022 | $59.4B | $60.5B |
| FY2021 | $51.0B | $57.4B |
| FY2020 | $41.7B | $55.2B |
| FY2019 | $53.8B | $57.7B |
| FY2018 | $54.7B | $79.6B |
| FY2017 | $45.5B | $79.1B |
| FY2016 | $38.5B | $79.9B |
Net income by year
Bottom line
| Fiscal year | CAT | IBM |
|---|---|---|
| FY2025 | $8.9B | $10.6B |
| FY2024 | $10.8B | $6.0B |
| FY2023 | $10.3B | $7.5B |
| FY2022 | $6.7B | $1.6B |
| FY2021 | $6.5B | $5.7B |
| FY2020 | $3.0B | $5.6B |
| FY2019 | $6.1B | $9.4B |
| FY2018 | $6.1B | $8.7B |
| FY2017 | $759.0M | $5.8B |
| FY2016 | $-59.0M | $11.9B |
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