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2020 Performance at a Glance

Caterpillar delivered solid operational performance despite a 22% decline in sales and revenues for the year. We remained disciplined and focused on maintaining control of our structural costs, which helped us achieve an operating profit margin of 10.9%. Adjusted operating profit margin of 11.8% was within our 2019 Investor Day target range. We generated operating cash flow of $6.3 billion and, as a result, we were able to return $3.4 billion to shareholders through dividends and share repurchases, while returning 110% of Machinery, Energy & Transportation (ME&T) free cash flow* to shareholders. We maintained our dividend in 2020 and paid dividends of $2.2 billion, continuing our status as a Dividend Aristocrat.

Sales and Revenues
($ in billions)

Bar chart showing Caterpillar's yearly sales and revenue from 2018 through 2020

Sales by Region
($ in billions)

  • North America — $18.2
  • Asia/Pacific — $10.2
  • EAME — $9.9
  • Latin America — $3.4

Operating Profit
($ in billions)

Bar chart showing Caterpillar's operating profit from 2018 through 2020

Profit Per Share
(in dollars)

Bar chart showing Caterpillar's yearly profit per share from 2018 through 2020

Adjusted Profit Per Share**
(in dollars)

Bar chart showing Caterpillar's yearly adjusted profit per share from 2018 through 2020

Dividends Paid Per Share
(in dollars)

Bar chart showing Caterpillar's yearly dividends per share from 2018 through 2020
  • A reconciliation of ME&T free cash flow to consolidated net cash provided by operating activities can be found in our 2020 10-K filing, which is available on our website at www.caterpillar.com/investors.
  • A reconciliation of adjusted profit per share to U.S. GAAP can be found in our 2020 10-K filing, which is available on our website at www.caterpillar.com/investors.

2020 End-Market Highlights

Construction Industries

$16.9B*
Revenue

$2.4B
Profit

Lower end-user demand and changes in dealer inventories resulted in lower sales in 2020. End-user demand was driven by weaker construction activity, primarily in North America.

* Includes inter-segment sales

Resource Industries

$7.9B*
Revenue

$0.9B
Profit

Lower end-user demand for equipment supporting heavy construction and quarry and aggregates drove lower sales in 2020. Mining equipment demand was also down, though to a lesser extent, and was impacted by mining company delays in capital expenditures and overall economic uncertainty.

* Includes inter-segment sales

Energy & Transportation

$17.5B*
Revenue

$2.4B
Profit

Declines in North American oil and gas were mainly driven by lower demand for reciprocating engines used in gas compression and lower sales of engine aftermarket parts and turbines and turbine-related services. Transportation, industrial and power generation were also down due to lower demand.

* Includes inter-segment sales

Sales and Revenues
($ in billions)

Operating Profit
($ in billions)

Profit Per Share
(in dollars)

Adjusted Profit Per Share**
(in dollars)

Dividends Paid Per Share
(in dollars)

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