Where Does Caterpillar Stock Rank Among Competitors?
Caterpillar‘s stock has surged over the past year, but how does this industrial bellwether truly measure up against peers amidst evolving infrastructure and data center demands? A closer look reveals robust profitability and positive revenue growth, supported by a record backlog. However, its premium valuation might limit further upside if broader industrial momentum slows or if lower-valued competitors effectively capitalize on market trends.
- CAT’s 16.5% operating margin is strong, higher than most peers, reflecting diverse industrial demand; still below DE (18.8%) due to agriculture segment strength.
- CAT’s 4.3% LTM revenue growth is low, lagging TEX due to its ESG acquisition, but outpacing DE’s ag downturn, showing diverse industrial strength.
- CAT gained 118.4% in the past year, outperforming peers, now at PE 39.9, reflecting investor confidence in AI infrastructure and robust secular growth.
Here’s how Caterpillar stacks up across size, valuation, and profitability versus key peers.
| CAT | DE | PCAR | CMI | TEX | OSK | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 354.5 | 178.9 | 65.7 | 82.2 | 4.5 | 10.9 |
| Revenue ($ Bil) | 67.6 | 44.7 | 29.5 | 33.7 | 5.4 | 10.3 |
| PE Ratio | 39.9 | 35.6 | 24.4 | 28.9 | 20.4 | 16.4 |
| LTM Revenue Growth | 4.3% | -11.6% | -15.2% | -1.3% | 5.7% | -2.5% |
| LTM Operating Margin | 16.5% | 18.8% | 11.4% | 11.5% | 8.8% | 9.3% |
| LTM FCF Margin | 11.0% | 7.2% | 10.8% | 7.1% | 5.9% | 7.3% |
| 12M Market Return | 118.4% | 31.8% | 19.5% | 57.2% | 48.3% | 57.9% |
For more details on Caterpillar, read Buy or Sell CAT Stock. Below we compare CAT’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| CAT | 4.3% | 4.3% | -3.4% | 12.8% | |
| DE | -11.6% | -11.6% | -16.1% | 17.5% | |
| PCAR | -15.2% | – | -4.2% | 21.9% | 22.5% |
| CMI | -1.3% | -1.3% | 0.1% | 21.3% | |
| TEX | 5.7% | 5.7% | -0.5% | 16.6% | |
| OSK | -2.5% | – | 11.1% | 16.6% | 7.0% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| CAT | 16.5% | 16.5% | 20.2% | 19.3% | |
| DE | 18.8% | 18.8% | 22.6% | 24.2% | |
| PCAR | 11.4% | – | 14.5% | 16.9% | 12.8% |
| CMI | 11.5% | 11.5% | 9.9% | 3.8% | |
| TEX | 8.8% | 8.8% | 10.3% | 12.4% | |
| OSK | 9.3% | – | 9.9% | 8.7% | 4.6% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| CAT | 39.9 | 30.3 | 16.4 | 14.6 | |
| DE | 35.6 | 25.1 | 16.5 | 11.5 | |
| PCAR | 24.4 | – | 13.8 | 11.8 | 16.9 |
| CMI | 28.9 | 24.8 | 12.2 | 46.2 | |
| TEX | 20.4 | 15.9 | 9.2 | 7.5 | |
| OSK | 16.4 | – | 12.1 | 10.4 | 41.0 |
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