Cat Financial

What Cat Financial does

Cat Financial, legally Caterpillar Financial Services Corporation, is the wholly-owned captive finance subsidiary of Caterpillar Inc. (NYSE: CAT), founded in 1981 and headquartered in Nashville, Tennessee. The company provides loans, leases, and rental financing for Caterpillar-branded heavy equipment, serving end customers across construction, mining, power generation, agriculture, government, and marine industries. Its portfolio includes the MyCatFinancial digital account-management portal, the Cat Commercial Account payment card, Extended Protection and Physical Damage Insurance, Cat Customer Value Agreements, Cat Rewards, and the VisionLink fleet management platform.

Revenue is generated primarily through interest income on equipment loans and financing leases, fee income from credit facilities, and recurring protection/insurance products. Cat Financial funds its lending activities through debt issuance; in Q1 2026 it raised $3.25 billion in medium-term notes alongside an additional $1.3 billion in debt securities. Distribution is conducted through Caterpillar's global dealer network, supplemented by direct digital origination through MyCatFinancial, with regional sales teams covering North America, Asia Pacific, Europe, and Latin America.

Q1 2026 revenue was $947 million, up 10% year-over-year, with profit of $144 million, up 11%; full-year 2025 retail new business volume reached $14.26 billion (+8% YoY) and full-year 2025 profit was $540 million. Past-due rates of 1.37–1.39% are at historical lows, reflecting strong credit quality. Recent strategic moves include alliances to finance 2 GW of AI data center power generation at AIP's Monarch Compute Campus, expanded financing for ProPetro's PROPWR power generation business, and product launches including the Cat AI Assistant (on NVIDIA Jetson Thor) and the Cat AMP battery energy storage system.

Name

Cat Financial

Legal name

Caterpillar Financial Services Corporation

Website

https://catfinancial.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cat Financial is the captive finance arm of Caterpillar Inc., providing loans, leases, and rental financing for Caterpillar heavy equipment across construction, mining, power generation, agriculture, government, and marine industries globally, with $947 million in Q1 2026 revenue.

Ownership category

akta.pro rank

Headquarters

HQ city

Nashville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Equipment Financing and Lending: Cat Financial provides financing for Caterpillar equipment through loans, leases, and rental arrangements. Revenue is generated from interest income on loans and financing leases, as well as fee income from credit facilities. Q1 2026 revenues of $947 million, up 10% year-over-year.
2. Protection and Insurance Products: Extended protection plans and physical damage insurance products that extend coverage beyond standard warranties. Cat Customer Value Agreements provide customized maintenance and protection plans for equipment.
3. Medium-Term Note Issuance: Cat Financial raises capital through issuance of medium-term notes. In Q1 2026, the company issued $3.25 billion in new medium-term notes to fund operations and lending activities.
4. Retail New Business Volume: New financing contracts written for customers purchasing or leasing equipment. Q1 2026 retail new business volume grew 8% to $3.19 billion, driven by higher volume in Mining, North America, Asia Pacific and Power segments.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Cat Financial is the captive finance arm of Caterpillar Inc., providing equipment financing through loans, leases, and rental arrangements for Caterpillar machinery. The company also offers extended protection and physical damage insurance, Cat Customer Value Agreements for scheduled maintenance, the Cat Commercial Account payment card, and digital account management via the MyCatFinancial portal.

Product overview

Cat Financial is a financial services division of Caterpillar that provides equipment financing solutions. The core offering is equipment financing through loans, leases, and rent options for Cat machinery. The portfolio includes digital platforms (MyCatFinancial portal, VisionLink fleet management), payment solutions (Cat Commercial Account), and protection products (Extended Protection insurance, Cat Customer Value Agreements, Cat Rewards). The company also offers AI-powered tools including the Cat AI Assistant for conversational equipment interaction and Cat® AMP for asset management. These products work together to provide comprehensive financing and equipment management services for construction, mining, and industrial customers.

Differentiator

Problem solved

Functional benefit

Brands

• MyCatFinancial: Online account management portal for Cat Financial customers to manage contracts, make payments, and access financial documents.

Products and services

• Cat Financial Equipment Financing Equipment financing services offering loans, leases, and rental options for new, used, and rented Caterpillar equipment purchases, providing flexible financing solutions for businesses of all sizes.
• MyCatFinancial Portal Online account management portal allowing customers to pay bills, check interest paid, print contracts, and sign documents 24/7, integrated with Cat Commercial Account management.
• Cat Commercial Account Payment card program enabling customers to pay for equipment, parts, service, and attachments at participating Cat dealers and Cat Rentals locations.
• Extended Protection and Physical Damage Insurance Equipment protection solutions beyond standard warranty, securing investments in Caterpillar machines of all sizes and conditions.
• Cat Customer Value Agreements Custom maintenance plans designed to maintain equipment's built-in value through scheduled maintenance and parts replacement.
• Cat Rewards Rewards program allowing customers to earn points through routine maintenance and parts replacement for use toward future purchases.
• VisionLink Fleet Management Fleet management platform for monitoring and managing equipment fleet, integrated with MyCatFinancial for comprehensive equipment oversight.
• Cat AI Assistant Artificial intelligence solution enabling customers to interact with equipment and digital applications through unified conversational interface using NVIDIA Jetson Thor edge computing platform for speech recognition and natural language processing.
• Cat AMP Battery Energy Storage System Battery energy storage system using Caterpillar's asset management platform Cat AMP for long-term energy cost management and grid integration.

Quantifiable outcome

• 10% revenue growth to $947 million in Q1 2026
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

Four partnerships are on record, tiered minor, core and supporting.

• Danvers ElectricminorOthers · 9 February 2026Danvers Electric, a Massachusetts municipal utility, deployed Caterpillar's asset management platform Cat AMP for battery energy storage system integration and long-term energy cost management.
• American Intelligence & Power CorporationcoreStrategic or Co-development Partner · 28 January 2026Strategic alliance with American Intelligence & Power Corporation and Boyd CAT to deploy 2 gigawatts of dedicated power generation at AIP's Monarch Compute Campus in West Virginia for hyperscale AI data centers. Caterpillar will supply fast-response natural gas generator sets with battery energy storage systems. Cat Financial provides vendor equipment financing. Deliveries scheduled from September 2026 through August 2027, with first power online in 2027. Monarch targeting 8 GW total generation capacity.
• Boyd CATcoreStrategic or Co-development Partner · 28 January 2026Joint alliance with Boyd CAT for deployment of 2 GW power generation capacity at Monarch Compute Campus in West Virginia for AI infrastructure. Boyd CAT serves as the local dealer partner in this strategic initiative.
• NVIDIAsupportingTechnology or Integration · 6 January 2026Caterpillar's Cat AI Assistant runs on the NVIDIA Jetson Thor platform for edge computing and speech recognition. This technology partnership enables AI-powered equipment management solutions for Cat customers.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CatFinancial
• YouTubeyoutube.com/CatProducts
• Facebookfacebook.com/CatFinancial
• LinkedInlinkedin.com/company/caterpillar-financial
• Instagraminstagram.com/caterpillarinc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cat Financial