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Caterpillar Inc.

CAT NYSE Categories PDF
Industrials · Agricultural - Machinery · United States · Updated May 11, 12:47pm
$914.54
Price
$421.3B
Market Cap
112,900
Employees
1.63
Beta
Joseph E. Creed
CEO
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. The Resource Industries segment provides electric rope shovels, draglines, hydraulic shovels, rotary drills, hard rock vehicles, track-type tractors, mining trucks, longwall miners, wheel loaders, off-highway trucks, articulated trucks, wheel tractor scrapers, wheel dozers, fleet management, landfill compactors, soil compactors, machinery components, autonomous ready vehicles and solutions, select work tools, and safety services and mining performance solutions. The Energy & Transportation segment offers reciprocating engines, generator sets, integrated systems and solutions, turbines and turbine-related services, remanufactured reciprocating engines and components, centrifugal gas compressors, diesel-electric locomotives and components, and other rail-related products and services for marine, oil and gas, industrial, and electric power generation sectors. The company's Financial Products segment provides operating and finance leases, installment sale contracts, working capital loans, and wholesale financing plans; and insurance and risk management products for vehicles, power generation facilities, and marine vessels. The All Other operating segment manufactures filters and fluids, undercarriage, ground engaging tools, etc. The company was formerly known as Caterpillar Tractor Co. and changed its name to Caterpillar Inc. in 1986. The company was founded in 1925 and is headquartered in Deerfield, Illinois.

Business History
Price Overview
Last updated: May 11, 2026 12:47pm (just now)
$914.54
+17.09 (+1.90%)
Day Range
$895.25 – $918.25
52-Week Range
$336.24 – $931.35
50-Day MA
$764.25
200-Day MA
$603.09
Volume
1,224,470.00
Analyst Price Targets
Low $658.00
Consensus $867.33
High $1,165.00
(98 analysts)
Share Structure
Outstanding 460,637,000.00
Float 459,628,204.00
Free Float 99.8%
High free float — 99.8% of shares trade freely, ~0.2% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
API
Stock Price / EPS (Diluted)
44.99
Stock Price: $914.54
EPS (Diluted): 18.90
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
12.54
Stock Price: $914.54
Total Equity: $21.32B
Shares: 469,000,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
30.06
Market Cap: $421.27B
Total Debt: $43.33B
Cash: $9.98B
EBITDA: $14.86B
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$300.6B
Market Cap: $421.27B
Total Debt: $43.33B
Cash: $9.98B
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
32.3%
Gross Profit: $21.86B
Revenue: $67.59B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
16.6%
Operating Income: $11.21B
Revenue: $67.59B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
13.1%
Net Income: $8.87B
Revenue: $67.59B
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
47.5%
Net Income: $8.87B
Total Equity: $21.32B
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
12.4%
Operating Income: $11.21B
Tax Rate: 23.9%
Equity: $21.32B
Total Debt: $43.33B
Cash: $9.98B
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
1.44
Current Assets: $52.49B
Current Liabilities: $36.56B
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
2.03
Short-Term Debt: $12.63B
Long-Term Debt: $30.70B
Total Debt: $43.33B
Total Equity: $21.32B
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$144.11
Revenue: $67.59B
Shares: 469,000,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$45.45
Total Equity: $21.32B
Shares: 469,000,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$21.91
Operating CF: $11.74B
CapEx: -$1.47B
Shares: 469,000,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
1.0%
Last Dividend: N/A
Stock Price: $914.54
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $8.87B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CAT against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $51.0B $59.4B $67.1B $64.8B $67.6B
Cost of Revenue $36.0B $41.9B $43.8B $41.5B $45.7B
Gross Profit $15.0B $17.5B $23.3B $23.3B $21.9B
Operating Expenses $8.1B $9.6B $10.3B $10.3B $10.6B
Operating Income $6.9B $7.9B $13.0B $13.1B $11.2B
Net Income $6.5B $6.7B $10.3B $10.8B $8.9B
EBITDA $11.0B $11.4B $15.7B $16.0B $14.9B
EPS $11.93 $12.73 $20.24 $22.17 $18.90
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $9.3B $7.0B $7.0B $6.9B $10.0B
Total Current Assets $43.5B $43.8B $46.9B $45.7B $52.5B
Total Assets $82.8B $81.9B $87.5B $87.8B $98.6B
Current Liabilities $29.8B $31.5B $34.7B $32.3B $36.6B
Long-Term Debt $26.0B $25.8B $24.5B $27.5B $30.7B
Total Liabilities $66.3B $66.1B $68.0B $68.3B $77.3B
Total Equity $16.5B $15.9B $19.5B $19.5B $21.3B
Retained Earnings $39.3B $43.5B $51.3B $59.4B $65.4B
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $7.2B $7.8B $12.9B $12.0B $11.7B
Capital Expenditure -$2.5B -$2.6B -$3.1B -$3.2B -$1.5B
Free Cash Flow $4.7B $5.2B $9.8B $8.8B $10.3B
Acquisitions (net) $36.0M $1.0M -$4.0M -$61.0M -$47.0M
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks -$2.7B -$4.2B -$5.0B -$7.7B -$5.2B
Net Change in Cash -$103.0M -$2.3B -$28.0M -$89.0M $3.1B
Analyst Estimates (Annual)
Metric 2026 2027 2028 2029
Revenue $76.0B
$72.7B – $77.8B
 $83.4B
$78.9B – $87.2B
 $91.6B
$89.8B – $93.4B
 $89.7B
$84.9B – $94.0B
EBITDA $19.0B
$18.2B – $19.5B
 $20.9B
$19.7B – $21.8B
 $22.9B
$22.4B – $23.3B
 $22.4B
$21.2B – $23.5B
Net Income $11.0B
$10.2B – $12.7B
 $13.1B
$11.6B – $16.2B
 $15.9B
$12.7B – $19.4B
 $18.0B
$16.8B – $19.1B
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +16.6% +12.8% -3.4% +4.3%
Gross Profit Growth +16.7% +32.8% +0.3% -6.3%
Operating Income Growth +14.9% +64.0% +0.8% -14.2%
Net Income Growth +3.3% +54.1% +4.4% -17.8%
EBITDA Growth +3.4% +37.6% +2.1% -7.4%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-05-06 De Lange Bob M-Exempt 28,105.00 $127.60 $3.6M
2026-05-06 De Lange Bob F-InKind 3,883.00 $923.38 $3.6M
2026-05-06 De Lange Bob S-Sale 14,470.00 $922.55 $13.3M
2026-05-06 De Lange Bob S-Sale 9,752.00 $923.47 $9.0M
2026-05-06 De Lange Bob M-Exempt 28,105.00 $127.60 $3.6M
2026-05-06 Fassino Anthony D. M-Exempt 12,000.00 $219.76 $2.6M
2026-05-06 Fassino Anthony D. F-InKind 2,848.00 $925.74 $2.6M
2026-05-06 Fassino Anthony D. S-Sale 8,802.00 $926.23 $8.2M
2026-05-06 Fassino Anthony D. S-Sale 350.00 $926.83 $324,391
2026-05-06 Fassino Anthony D. M-Exempt 12,000.00 $219.76 $2.6M
2026-05-06 BONFIELD ANDREW R J M-Exempt 3,726.00 $332.04 $1.2M
2026-05-06 BONFIELD ANDREW R J M-Exempt 7,673.00 $338.65 $2.6M
2026-05-06 BONFIELD ANDREW R J F-InKind 7,380.00 $920.72 $6.8M
2026-05-06 BONFIELD ANDREW R J M-Exempt 11,655.00 $253.98 $3.0M
2026-05-06 BONFIELD ANDREW R J S-Sale 15,674.00 $918.71 $14.4M
2026-05-06 BONFIELD ANDREW R J M-Exempt 3,726.00 $332.04 $1.2M
2026-05-06 BONFIELD ANDREW R J M-Exempt 7,673.00 $338.65 $2.6M
2026-05-06 BONFIELD ANDREW R J M-Exempt 11,655.00 $253.98 $3.0M
2026-05-06 Kaiser Jason G-Gift 294.00 $0.00 $0
2026-05-05 Shurman Rodney Michael M-Exempt 5,639.00 $253.98 $1.4M
Dividend History (Last 20)
Date Dividend Declaration Record Payment
2026-04-20 $1.51 2026-04-08 2026-04-20 2026-05-19
2026-01-20 $1.51 2025-12-10 2026-01-20 2026-02-19
2025-10-20 $1.51 2025-10-06 2025-10-20 2025-11-20
2025-07-21 $1.51 2025-06-11 2025-07-21 2025-08-20
2025-04-21 $1.41 2025-04-09 2025-04-21 2025-05-20
2025-01-21 $1.41 2024-12-10 2025-01-21 2025-02-20
2024-10-21 $1.41 2024-10-09 2024-10-21 2024-11-20
2024-07-22 $1.41 2024-06-12 2024-07-22 2024-08-20
2024-04-19 $1.30 2024-04-10 2024-04-22 2024-05-20
2024-01-19 $1.30 2023-12-13 2024-01-22 2024-02-20
2023-10-20 $1.30 2023-10-11 2023-10-23 2023-11-20
2023-07-19 $1.30 2023-06-14 2023-07-20 2023-08-18
2023-04-21 $1.20 2023-04-12 2023-04-24 2023-05-19
2023-01-19 $1.20 2022-12-14 2023-01-20 2023-02-17
2022-10-21 $1.20 2022-10-12 2022-10-24 2022-11-18
2022-07-19 $1.20 2022-06-08 2022-07-20 2022-08-19
2022-04-22 $1.11 2022-04-13 2022-04-25 2022-05-20
2022-01-19 $1.11 2021-12-08 2022-01-20 2022-02-18
2021-10-22 $1.11 2021-10-13 2021-10-25 2021-11-19
2021-07-19 $1.11 2021-06-09 2021-07-20 2021-08-20
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27