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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. CAT Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Caterpillar (CAT)

Market Price (9/16/2025): $435.41 | Market Cap: $204.5 Bil
Sector: Industrials | Industry: Construction Machinery & Heavy Transportation Equipment

Caterpillar (CAT)

Market Price (9/16/2025): $435.41
Market Cap: $204.5 Bil
Sector: Industrials
Industry: Construction Machinery & Heavy Transportation Equipment

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.9%		 Trading close to highs
Dist 52W High is -0.5%, Dist 3Y High is -0.5%		 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.9%, Rev Chg QQuarterly Revenue Change % is -0.7%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 11 Bil, FCF LTM is 7.7 Bil		  
2 Low stock price volatility
Vol 12M is 30%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.9%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 11 Bil, FCF LTM is 7.7 Bil
2 Low stock price volatility
Vol 12M is 30%
3 Trading close to highs
Dist 52W High is -0.5%, Dist 3Y High is -0.5%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.9%, Rev Chg QQuarterly Revenue Change % is -0.7%

Market Valuation

 9/16/252024202320222021
Share Price CYE$435.41$358.39$287.50$228.27$192.47
Market Cap CYE ($ Bil)204.5172.0144.7118.1103.7
Total Debt ($ Bil)40.738.437.937.037.8
Total Cash ($ Bil)5.46.97.07.09.3
Enterprise Value ($ Bil)239.8210.4182.6155.1141.5
Valuation Ratios     
P/S TTM3.22.72.22.12.2
P/EBIT TTM16.812.711.113.712.9
P/E TTM21.716.414.618.817.3
Sector Ratios     
P/S TTM (Sector)1.61.41.41.11.6
P/EBIT TTM (Sector)11.410.210.08.312.1
P/E TTM (Sector)16.613.714.011.215.6
 9/16/2520242023
Share Price CYE$435.41$358.39$287.50
Market Cap CYE ($ Bil)204.5172.0144.7
Total Debt ($ Bil)40.738.437.9
Total Cash ($ Bil)5.46.97.0
Enterprise Value ($ Bil)239.8210.4182.6
Valuation Ratios   
P/S TTM3.22.72.2
P/EBIT TTM16.812.711.1
P/E TTM21.716.414.6
Sector Ratios   
P/S TTM (Sector)1.61.41.4
P/EBIT TTM (Sector)11.410.210.0
P/E TTM (Sector)16.613.714.0

Market Cap Chart

Business Description

Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
CAT Return27%16%19%26%25%22%230%
Peers Return27%16%4%18%19%15%146%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: DE, ALSN, TEX, ASTE, CAT. See CAT Returns vs. Peers.
[3] 2025 data is for the year up to 9/15/2025 (YTD)

Interactive Breakdown

Caterpillar Interactive Breakdown Analysis

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Caterpillar Earnings Notes  
2CAT Has Paid Out $57 Bil to Investors in the Past Decade  
3Caterpillar vs T-Mobile US: Which Is A Better Investment?Counter-Intuitive Comparisons 
4Caterpillar vs United Rentals: Which Is A Better Investment?Counter-Intuitive Comparisons 
5Caterpillar vs GATX: Which Is A Better Investment?Counter-Intuitive Comparisons 
6How Does CAT Stack Up Against Its Peers?Peer Comparison 
7Better Bet Than CAT Stock: Pay Less Than Caterpillar To Get More From DIS, FI   
8Better Bet Than CAT Stock: Pay Less Than Caterpillar To Get More From UAL, BAH   
9Better Bet Than CAT Stock: Pay Less Than Caterpillar To Get More From OSK   
10Better Bet Than CAT Stock: Pay Less Than Caterpillar To Get More From OSK Actionable 
11ARTICLES  
12CAT Delivers $57 Bil to Shareholders Over the Last 10 Years September 4th, 2025
13Better Bet Than Caterpillar Stock: Pay Less To Get More From OSK August 6th, 2025
14How Will Caterpillar Stock React To Its Q2 Earnings? August 1st, 2025
15Better Bet Than Caterpillar Stock: Pay Less To Get More From OSK July 25th, 2025
16CAT’s 16% Single Month Rise Brings Valuations Into Focus – Is GATX a Better Deal? July 25th, 2025
Title
0DASHBOARDS
1CAT Delivers $57 Bil to Shareholders Over the Last 10 Years
2Better Bet Than Caterpillar Stock: Pay Less To Get More From OSK
3How Will Caterpillar Stock React To Its Q2 Earnings?
4Better Bet Than Caterpillar Stock: Pay Less To Get More From OSK
5CAT’s 16% Single Month Rise Brings Valuations Into Focus – Is GATX a Better Deal?
6ARTICLES
7Caterpillar Earnings Notes
8CAT Has Paid Out $57 Bil to Investors in the Past Decade
9Caterpillar vs T-Mobile US: Which Is A Better Investment?
10Caterpillar vs United Rentals: Which Is A Better Investment?
11Caterpillar vs GATX: Which Is A Better Investment?
12How Does CAT Stack Up Against Its Peers?
13Better Bet Than CAT Stock: Pay Less Than Caterpillar To Get More From DIS, FI 
14Better Bet Than CAT Stock: Pay Less Than Caterpillar To Get More From UAL, BAH 
15Better Bet Than CAT Stock: Pay Less Than Caterpillar To Get More From OSK 
16Better Bet Than CAT Stock: Pay Less Than Caterpillar To Get More From OSK 

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
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4CLSDClearside Biomedical1075.2%-72.3%
5SDOTSadot806.7%-78.2%
6WLDSWearable Devices539.8%-24.4%
7QMMMQMMM536.6%5505.5%
8ATCHAtlasClear382.9%-89.7%
9OPIOffice Properties Income Trust274.5%-8.3%
10CWDCaliberCos246.5%-46.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1DGNXDiginex-83.7% 
2ATYRaTyr Pharma-81.4%-72.0%
3LGCLLucas GC-73.2%-78.3%
4NAKAKindly MD-72.8% 
5OCTOEightco-67.8%562.1%
6YYGHYY-67.0%-78.2%
7SNTGSentage-58.1%57.5%
8REXREX American Resources-50.7%-26.7%
9BINIBollinger Innovations-49.2%-100.0%
10SLXNSilexion Therapeutics-49.2%-88.0%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical11963.5%11963.5%
2GIBOGIBO7309.3% 
3CHSNChanson International5551.3%-99.3%
4LNZALanzaTech Global5145.9%-85.7%
5QMMMQMMM2490.3%5505.5%
6NXTTNext Technology2167.7%1080.3%
7VTAKCatheter Precision1543.9%-70.5%
8CURXCuranex Pharmaceuticals1282.0%1282.0%
9VCIGVCI Global1278.3%-66.8%
10OCTOEightco800.6%562.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1CJETChijet Motor-93.3%-95.1%
2ELPWElong Power-92.4%-76.5%
3STFSStar Fashion Culture-92.1%-97.9%
4ETSElite Express-92.0%-92.0%
5NAKAKindly MD-91.7% 
6BINIBollinger Innovations-90.5%-100.0%
7FLYEFly-E-89.8%-81.2%
8JEM707 Cayman-89.8%-98.3%
9NUTRNusaTrip-86.7%-86.7%
10CUPRCuprina-84.9% 

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NXTTNext Technology18985.5%1080.3%
2BDSXBiodesix1658.4%-75.2%
3VCIGVCI Global1460.0%-66.8%
4CLSDClearside Biomedical1075.2%-72.3%
5SDOTSadot806.7%-78.2%
6WLDSWearable Devices539.8%-24.4%
7QMMMQMMM536.6%5505.5%
8ATCHAtlasClear382.9%-89.7%
9OPIOffice Properties Income Trust274.5%-8.3%
10CWDCaliberCos246.5%-46.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1DGNXDiginex-83.7% 
2ATYRaTyr Pharma-81.4%-72.0%
3LGCLLucas GC-73.2%-78.3%
4NAKAKindly MD-72.8% 
5OCTOEightco-67.8%562.1%
6YYGHYY-67.0%-78.2%
7SNTGSentage-58.1%57.5%
8REXREX American Resources-50.7%-26.7%
9BINIBollinger Innovations-49.2%-100.0%
10SLXNSilexion Therapeutics-49.2%-88.0%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Caterpillar

Financials

CATDEALSNTEXASTEMedian
NameCaterpil.Deere Allison .Terex Astec In. 
Mkt Price435.94469.1187.7353.5247.8587.73
Mkt Cap204.8127.07.43.51.17.4
Rev LTM63,13943,3973,2005,0641,3105,064
Op Inc LTM11,5108,6631,000437781,000
FCF LTM7,7404,10165420178654
FCF 3Y Avg8,3493,986646229-11646
CFO LTM11,3738,55682233992822
CFO 3Y Avg11,5178,52279435917794

Growth & Margins

CATDEALSNTEXASTEMedian
NameCaterpil.Deere Allison .Terex Astec In. 
Rev Chg LTM-4.9%-20.9%2.7%-2.8%1.2%-2.8%
Rev Chg 3Y Avg5.8%-0.6%8.0%8.3%5.1%5.8%
Rev Chg Q-0.7%-8.3%-0.2%-4.9%-4.4%-4.4%
QoQ Delta Rev Chg LTM-0.2%-2.4%-0.1%-1.2%-1.1%-1.1%
Op Mgn LTM18.2%20.0%31.2%8.6%5.9%18.2%
Op Mgn 3Y Avg18.8%22.3%30.3%10.6%4.0%18.8%
QoQ Delta Op Mgn LTM-0.9%-1.2%-0.2%-1.6%0.9%-0.9%
CFO/Rev LTM18.0%19.7%25.7%6.7%7.1%18.0%
CFO/Rev 3Y Avg17.8%16.5%25.7%7.2%1.4%16.5%
FCF/Rev LTM12.3%9.4%20.4%4.0%5.9%9.4%
FCF/Rev 3Y Avg12.9%7.8%20.9%4.6%-0.8%7.8%

Valuation

CATDEALSNTEXASTEMedian
NameCaterpil.Deere Allison .Terex Astec In. 
Mkt Cap204.8127.07.43.51.17.4
P/S3.22.92.30.70.82.3
P/EBIT16.813.27.28.614.813.2
P/E21.724.49.714.323.821.7
P/CFO18.014.89.010.511.811.8
Total Yield5.9%5.4%10.7%8.3%5.3%5.9%
Dividend Yield1.3%1.3%0.3%1.3%1.1%1.3%
FCF Yield 3Y Avg5.4%3.4%10.1%6.4%-1.4%5.4%
D/E0.20.50.30.70.10.3
Net D/E0.20.40.20.60.00.2

Returns

CATDEALSNTEXASTEMedian
NameCaterpil.Deere Allison .Terex Astec In. 
1M Rtn6.9%-4.0%0.8%6.5%6.0%6.0%
3M Rtn20.7%-10.3%-8.0%14.5%17.3%14.5%
6M Rtn28.3%-2.1%-9.6%36.1%31.4%28.3%
12M Rtn28.2%20.5%1.1%5.6%54.9%20.5%
3Y Rtn156.6%37.9%160.0%70.2%41.0%70.2%
1M Excs Rtn2.1%-4.3%-3.6%1.1%2.4%1.1%
3M Excs Rtn11.9%-18.3%-21.9%6.1%9.2%6.1%
6M Excs Rtn12.1%-18.4%-25.8%16.4%14.0%12.1%
12M Excs Rtn13.1%3.3%-16.5%-11.0%41.0%3.3%
3Y Excs Rtn86.3%-32.5%87.3%-2.3%-34.7%-2.3%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/6/20255/7/20252/14/202511/6/20248/7/20245/1/20242/16/202411/1/20238/2/20235/3/20232/15/202311/2/2022
Key Financials Quarterly            
Total Revenue16,56914,24916,21516,10616,68915,79917,07016,81017,31815,86216,59714,994
Ebitda3,4983,2263,9053,7664,1684,1993,9204,1694,3213,2952,7743,218
Operating Income2,8602,5792,9243,1473,4823,5193,1343,4493,6522,7312,6052,425
Net Income2,1792,0032,7912,4642,6812,8562,6762,7942,9221,9431,4542,041
EPS4.644.225.815.095.505.785.315.485.703.762.813.89
Key Financials TTM            
Total Revenue TTM63,13963,25964,80965,66466,36866,99767,06066,58764,77161,70059,42756,628
Ebitda TTM14,39515,06516,03816,05316,45616,60915,70514,55913,60812,04411,41411,900
Operating Income TTM11,51012,13213,07213,28213,58413,75412,96612,43711,4139,7058,8297,835
Net Income TTM9,4379,93910,79210,67711,00711,24810,3359,1138,3607,1116,7057,371
Growth Rates Quarterly            
Total Revenue Growth-0.7%-9.8%-5.0%-4.2%-3.6%-0.4%2.8%12.1%21.6%16.7%20.3%20.9%
EBITDA Growth-16.1%-23.2%-0.4%-9.7%-3.5%27.4%41.3%29.6%56.7%23.6%-14.9%29.7%
Operating Income Growth-17.9%-26.7%-6.7%-8.8%-4.7%28.9%20.3%42.2%87.9%47.2%61.7%45.7%
Net Income Growth-18.7%-29.9%4.3%-11.8%-8.2%47.0%84.0%36.9%74.7%26.4%-31.4%43.1%
Margins Quarterly            
EBITDA Margin21.1%22.6%24.1%23.4%25.0%26.6%23.0%24.8%25.0%20.8%16.7%21.5%
Operating Income Margin17.3%18.1%18.0%19.5%20.9%22.3%18.4%20.5%21.1%17.2%15.7%16.2%
Net Income Margin13.2%14.1%17.2%15.3%16.1%18.1%15.7%16.6%16.9%12.2%8.8%13.6%
Cash & Debt            
Total Cash5,4423,5626,8895,6384,3414,9596,9786,5457,3876,7897,0046,346
Total Debt40,74838,58838,40937,90137,31137,85337,87837,13937,69937,03836,99336,525
Net Debt / (Cash)35,30635,02631,52032,26332,97032,89430,90030,59430,31230,24929,98930,179
Cash Flows Quarterly            
FCF from Operations3,1221,2893,3933,5693,0212,0524,0034,0603,2491,5732,7392,481
Cash Flows TTM            
FCF from Operations TTM11,37311,27212,03512,64513,13613,36412,88511,62110,0429,0267,7666,439
Returns to Shareholders Quarterly            
Dividends662674680683635648662663618620620633
Share Repurchases8233,7246407821,8124,4632,7663581,4264259211,385
Return on Invested Capital (ROIC) Quarterly            
ROIC25.0%22.9%31.8%30.9%32.2%34.5%33.2%35.7%38.3%26.4%24.1%25.5%
Return on Invested Capital (ROIC) TTM            
ROIC TTM26.1%27.6%33.3%32.7%32.7%33.5%33.0%31.0%28.6%24.2%22.5%20.7%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Energy & Transportation28,00123,75220,28714,66418,485
Construction Industries27,41825,26922,10616,87622,556
Resource Industries13,58312,3149,8107,4469,813
Financial Products Segment3,7853,2533,0733,0443,434
All Other Segment449450511113127
Corporate Items and Eliminations-6,176-5,611-4,816-395-615
Total67,06059,42750,97141,74853,800


Assets by Segment
$ Mil20242023202220212020
Financial Products Segment35,685    
Liabilities included in segment assets11,781    
Energy & Transportation10,555    
Property, plant and equipment - net and other assets6,548    
Cash and cash equivalents6,106    
Resource Industries5,742    
Construction Industries5,384    
Goodwill and intangible assets4,452    
Deferred income taxes2,668    
All Other Segment1,890    
Other-166    
Inventory methodology differences-3,169    
Total87,476    


Price Behavior

CAT Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta1.351.491.371.111.131.08
Up Beta1.491.311.390.991.071.00
Down Beta0.931.221.301.101.041.07
Up Capture92%176%167%153%147%178%
Bmk +ve Days10223571142415
Stock +ve Days11243870130402
Down Capture213%163%108%113%115%102%
Bmk -ve Days11192754106334
Stock -ve Days10182556119349

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity6,549,032
Short Interest: % Change Since 81520257.7%
Average Daily Volume2,902,550
Days-to-Cover Short Interest2.26
Basic Shares Quantity469,700,000
Short % of Basic Shares1.4%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20250.1%-5.8%-4.3%
4/30/20250.6%4.4%14.4%
1/30/2025-4.6%-8.7%-12.5%
10/30/2024-2.1%-1.1%4.2%
8/6/20243.0%6.1%6.3%
4/25/2024-7.0%-8.9%-3.5%
2/5/20242.0%0.7%5.9%
10/31/2023-6.7%-1.6%3.0%
...
SUMMARY STATS   
# Positive91215
# Negative15129
Median Positive2.0%4.0%5.9%
Median Negative-3.0%-4.2%-4.3%
Max Positive8.9%8.9%19.7%
Max Negative-7.0%-8.9%-12.5%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025806202510-Q 6/30/2025
3312025507202510-Q 3/31/2025
12312024214202510-K 12/31/2024
93020241106202410-Q 9/30/2024
6302024807202410-Q 6/30/2024
3312024501202410-Q 3/31/2024
12312023216202410-K 12/31/2023
93020231101202310-Q 9/30/2023
6302023802202310-Q 6/30/2023
3312023503202310-Q 3/31/2023
12312022215202310-K 12/31/2022
93020221102202210-Q 9/30/2022
6302022803202210-Q 6/30/2022
3312022504202210-Q 3/31/2022
12312021216202210-K 12/31/2021
93020211103202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0SCHWAB SUSAN C8192025Sell410.002,324952,8402,835,970Form
1MacLennan David5082025Buy320.70375120,2622,133,617Form
2Johnson Gerald5052025Buy318.4810031,8481,007,989Form
3Kaiser JasonGroup President2192025Sell354.702,425860,1482,225,742Form
4Johnson Gerald2052025Buy365.5710036,5571,116,085Form

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