Industrials companies with the highest income tax expense

Income tax expense is the tax a company charged against profit in its income statement for the year. It is not the same as the cash it handed to tax authorities: deferred tax, provisions and timing differences separate the two, often by billions. The cash figure is a different line in the cash-flow statement. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–100 of 409 · Fiscal year 2025 · Data as of September 25, 2026

Caterpillar (CAT) tops the list with $2.8B in income tax expense for fiscal 2025, ahead of ASML Holding ($2.3B) and Azul ($2.1B). The top 10 together report $18.0B in income tax expense; the gap between #1 and #10 is ×2.04. 409 companies in Industrials report income tax expense, 17.6% of the 2320-filer universe. The last place on the list, Zebra Technologies, comes in at $141M.

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<p style="max-width:680px;font:13px system-ui,sans-serif">Source: <a href="https://companiesranked.com/en/industrial-companies-with-the-highest-income-tax-expense">Industrials companies with the highest income tax expense</a> — CompaniesRanked, compiled from SEC EDGAR filings</p>

{{cite web |title=Industrials companies with the highest income tax expense |url=https://companiesranked.com/en/industrial-companies-with-the-highest-income-tax-expense |website=CompaniesRanked |date=2026-09-25 |language=en}}

CompaniesRanked. (September 25, 2026). Industrials companies with the highest income tax expense. CompaniesRanked. https://companiesranked.com/en/industrial-companies-with-the-highest-income-tax-expense

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  author       = {{CompaniesRanked}},
  title        = {{Industrials companies with the highest income tax expense}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/industrial-companies-with-the-highest-income-tax-expense}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
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Companies with the highest income tax expense →