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Side-by-side financial comparison of Caterpillar Inc. (CAT) and Delta Air Lines (DAL). Click either name above to swap in a different company.
Caterpillar Inc. is the larger business by last-quarter revenue ($17.4B vs $16.0B, roughly 1.1× Delta Air Lines). On growth, Caterpillar Inc. posted the faster year-over-year revenue change (22.2% vs 14.0%). Over the past eight quarters, Caterpillar Inc.'s revenue compounded faster (2.2% CAGR vs -2.0%).
Caterpillar Inc. is an American construction, mining, and other engineering equipment manufacturer. The company is the world's largest manufacturer of construction equipment. In 2018, Caterpillar was ranked number 73 on the Fortune 500 list and number 265 on the Global Fortune 500 list. Caterpillar stock is a component of the Dow Jones Industrial Average.
Delta Air Lines, Inc. is a major airline in the United States headquartered in Atlanta, Georgia, operating nine hubs, with Hartsfield–Jackson Atlanta International Airport being its largest in terms of total passengers and number of departures. With its regional subsidiaries and contractors operating under the brand name Delta Connection, Delta has over 5,400 flights daily and serves 325 destinations in 52 countries on six continents.
CAT vs DAL — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $17.4B | $16.0B |
| Net Profit | — | — |
| Gross Margin | 35.1% | — |
| Operating Margin | 17.7% | 9.2% |
| Net Margin | — | — |
| Revenue YoY | 22.2% | 14.0% |
| Net Profit YoY | — | — |
| EPS (diluted) | $5.47 | $1.85 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $17.4B | $16.0B | ||
| Q4 25 | $19.1B | $16.0B | ||
| Q3 25 | $17.6B | $16.7B | ||
| Q2 25 | $16.6B | $16.6B | ||
| Q1 25 | $14.2B | $14.0B | ||
| Q4 24 | $16.2B | $15.6B | ||
| Q3 24 | $16.1B | $15.7B | ||
| Q2 24 | $16.7B | $16.7B |
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | $1.2B | ||
| Q3 25 | $2.3B | $1.4B | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $2.0B | $240.0M | ||
| Q4 24 | $2.8B | $843.0M | ||
| Q3 24 | $2.5B | $1.3B | ||
| Q2 24 | $2.7B | $1.3B |
| Q1 26 | 35.1% | — | ||
| Q4 25 | 30.5% | — | ||
| Q3 25 | 33.8% | — | ||
| Q2 25 | 34.8% | — | ||
| Q1 25 | 37.1% | — | ||
| Q4 24 | 36.3% | — | ||
| Q3 24 | 37.5% | — | ||
| Q2 24 | 39.2% | — |
| Q1 26 | 17.7% | 9.2% | ||
| Q4 25 | 13.9% | 9.2% | ||
| Q3 25 | 17.3% | 10.1% | ||
| Q2 25 | 17.3% | 12.6% | ||
| Q1 25 | 18.1% | 4.1% | ||
| Q4 24 | 18.0% | 11.0% | ||
| Q3 24 | 19.5% | 8.9% | ||
| Q2 24 | 20.9% | 13.6% |
| Q1 26 | — | — | ||
| Q4 25 | 12.5% | 7.6% | ||
| Q3 25 | 13.0% | 8.5% | ||
| Q2 25 | 13.2% | 12.8% | ||
| Q1 25 | 14.1% | 1.7% | ||
| Q4 24 | 17.2% | 5.4% | ||
| Q3 24 | 15.3% | 8.1% | ||
| Q2 24 | 16.1% | 7.8% |
| Q1 26 | $5.47 | $1.85 | ||
| Q4 25 | $5.11 | $1.85 | ||
| Q3 25 | $4.88 | $2.17 | ||
| Q2 25 | $4.62 | $3.27 | ||
| Q1 25 | $4.20 | $0.37 | ||
| Q4 24 | $5.76 | $1.29 | ||
| Q3 24 | $5.06 | $1.97 | ||
| Q2 24 | $5.48 | $2.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.1B | $4.3B |
| Total DebtLower is stronger | $4.7B | $12.5B |
| Stockholders' EquityBook value | $18.7B | $20.9B |
| Total Assets | $95.5B | $81.3B |
| Debt / EquityLower = less leverage | 0.25× | 0.60× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $4.1B | $4.3B | ||
| Q4 25 | $10.0B | $4.3B | ||
| Q3 25 | $7.5B | $3.8B | ||
| Q2 25 | $5.4B | $3.3B | ||
| Q1 25 | $3.6B | $3.7B | ||
| Q4 24 | $6.9B | $3.1B | ||
| Q3 24 | $5.6B | $4.0B | ||
| Q2 24 | $4.3B | $4.2B |
| Q1 26 | $4.7B | $12.5B | ||
| Q4 25 | — | $12.5B | ||
| Q3 25 | — | $12.8B | ||
| Q2 25 | — | $12.8B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | — | $14.0B | ||
| Q3 24 | — | $14.4B | ||
| Q2 24 | — | $15.0B |
| Q1 26 | $18.7B | $20.9B | ||
| Q4 25 | $21.3B | $20.9B | ||
| Q3 25 | $20.7B | $18.8B | ||
| Q2 25 | $18.7B | $17.4B | ||
| Q1 25 | $18.1B | $15.4B | ||
| Q4 24 | $19.5B | $15.3B | ||
| Q3 24 | $19.4B | $13.6B | ||
| Q2 24 | $17.1B | $12.4B |
| Q1 26 | $95.5B | $81.3B | ||
| Q4 25 | $98.6B | $81.3B | ||
| Q3 25 | $93.7B | $79.6B | ||
| Q2 25 | $90.3B | $78.4B | ||
| Q1 25 | $85.0B | $77.3B | ||
| Q4 24 | $87.8B | $75.4B | ||
| Q3 24 | $86.3B | $75.4B | ||
| Q2 24 | $83.3B | $75.2B |
| Q1 26 | 0.25× | 0.60× | ||
| Q4 25 | — | 0.60× | ||
| Q3 25 | — | 0.68× | ||
| Q2 25 | — | 0.74× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | 0.92× | ||
| Q3 24 | — | 1.05× | ||
| Q2 24 | — | 1.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CAT
| Sales of Machinery, Power & Energy | $16.5B | 95% |
| Revenues of Financial Products | $942.0M | 5% |
DAL
| Passenger Air Traffic | $10.8B | 67% |
| Product And Service Other Refinery | $1.7B | 10% |
| Product And Service Other Loyalty Program | $1.2B | 8% |
| Passenger Loyalty Travel Awards | $1.0B | 6% |
| Passenger Travel Related Services | $506.0M | 3% |
| Product And Service Other Ancillary Businesses | $380.0M | 2% |
| Cargo And Freight | $226.0M | 1% |
| Product And Service Other Miscellaneous | $71.0M | 0% |
