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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Caterpillar's retained earnings for the quarter that ended in Mar. 2026 was $67,997 Mil.
Caterpillar's quarterly retained earnings
increased
from Sep. 2025 ($64,460 Mil) to Dec. 2025 ($65,448 Mil) and
increased
from Dec. 2025 ($65,448 Mil) to Mar. 2026 ($67,997 Mil).
Caterpillar's annual retained earnings
increased
from Dec. 2023 ($51,250 Mil) to Dec. 2024 ($59,352 Mil) and
increased
from Dec. 2024 ($59,352 Mil) to Dec. 2025 ($65,448 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Caterpillar Retained Earnings Historical Data
* Premium members only.
The historical data trend for Caterpillar's Retained Earnings can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of $67,997 Mil mean?
Caterpillar (LIM:CAT) has a Retained Earnings of $67,997 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Caterpillar and its competitors.
Is Caterpillar's Retained Earnings too high?
Caterpillar's current Retained Earnings is $67,997 Mil. Overall, Caterpillar has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Caterpillar's Retained Earnings compare to DE and PCAR?
Caterpillar's Retained Earnings of $67,997 Mil can be compared against companies in the Farm & Heavy Construction Machinery industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Farm & Heavy Construction Machinery company?
A good Retained Earnings depends on the Farm & Heavy Construction Machinery industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Caterpillar and its competitors. Caterpillar's current Retained Earnings is $67,997 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Caterpillar stock overvalued right now?
Based on GuruFocus' analysis, Caterpillar (LIM:CAT) is currently considered Significantly Overvalued. The stock's GF Value™ is $398.21, compared to a current price of $996.00 — trading 150.1% above its estimated fair value. The current Retained Earnings is $67,997 Mil. Caterpillar's overall GF Score™ is 68/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Caterpillar (LIM:CAT), the current Retained Earnings is $67,997 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Caterpillar (LIM:CAT) Overvalued in 2026?
Based on GuruFocus' analysis, Caterpillar stock appears to be overvalued.
The current stock price of $996.00 is trading 150.1% above its estimated GF Value™ of $398.21.
GuruFocus considers Caterpillar to be Significantly Overvalued.
Key valuation signals for LIM:CAT:
Retained Earnings: $67,997 Mil
GF Value™: $398.21 vs. price of $996.00 (150.1% above fair value)
No single metric tells the full story. See the LIM:CAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Caterpillar is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its reporting segments are construction, resource, energy, and transportation. Market share approaches 20% across many products. Caterpillar operates a captive finance subsidiary to facilitate sales. The firm has a global reach that is approximately evenly balanced between the US and the rest of the world. Construction skews more domestic, while the other divisions are more geographically diversified. An independent network of over 150 dealers operates approximately 2,800 facilities, giving Caterpillar reach into about 190 countries for sales and support services.
68GF Score
Get the complete analysis for LIM:CAT
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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