Inside the research
Caterpillar Inc.
CAT Research profile · latest available data
Price overview
$821.58
▲ +16.33 (+2.0%)
| 52w hi | $1,062.93 |
|---|---|
| 52w lo | $459.58 |
| Vol | 1.98M |
| As of | 25 Sep 2026 |
The Verdict
Our score -0.31
| Short | -0.42 |
|---|---|
| Medium | -0.36 |
| Long | -0.00 |
computed 2026-09-27
Key fundamentals
Caterpillar Inc.
Industrials · Farm & Heavy Construction Machinery
| Market cap | $377.66B |
|---|---|
| Enterprise value | $416.86B |
| Trailing P/E | 35.34x |
| Forward P/E | 25.38x |
| EV / EBITDA | 25.65x |
| P / S (ttm) | 5.05x |
| Profit margin | 14.5% |
| Return on equity | 57.0% |
| Revenue growth | +24.0% |
| Earnings growth | +68.2% |
| Debt / equity | 232.78 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.29 | |
| Sector | -0.01 | |
| Technical | -0.34 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
Caterpillar Inc. provides construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. The Construction Industries segment offers asphalt pavers, cold planers, compactors, forestry machines, material handlers, motor graders, pipelayers, road reclaimers, telehandlers, track-type tractors, and track and wheel excavators; backhoe, compact track, skid steer, track-type, and wheel loaders; and related parts and work tools. Its Resource Industries segment provides electric rope and hydraulic shovels, draglines, rotary drills, hard rock vehicles, mining trucks, wheel loaders, off-highway and articulated trucks, wide-body trucks, wheel tractor scrapers and dozers, and landfill and soil compactors; machinery components, and wear and maintenance components; and technology products and services for fleet management, equipment management analytics, autonomous machine capabilities, safety services, and mining performance solutions. The Energy & Transportation segment offers reciprocating engine powered generator sets; reciprocating engines, drivetrain, and integrated systems and solutions; centrifugal gas compressors and related services; and diesel-electric locomotive components, and other rail-related products. Its Financial Products segment provides operating and finance leases, revolving charge accounts, installment sale contracts, repair/rebuild financing, working capital loans, and wholesale financing; and insurance and risk management products and services. The All Other segment offers parts distribution; logistics and distribution services; electronics and control systems; dealer portfolio management; brand management and marketing strategy; and digital investment services. It also provides mining software solutions. The company was formerly known as Caterpillar Tractor Co. Caterpillar Inc. was incorporated in 1925 and is headquartered in Irving, Texas.
Risk Metrics
| Beta vs SPX | 1.34 |
|---|---|
| Corr SPX | 0.61 |
| Annual vol | 35.2% |
| Annual ret | +46.2% |
| Sharpe | 1.31 |
| Max DD | -34.3% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $890.64 |
|---|---|
| High / Low | $1,165.00 / $575.00 |
| Median | $889.50 |
| Analysts | 26 |
| Strong Buy | 1 | |
|---|---|---|
| Buy | 14 | |
| Hold | 11 | |
| Sell | 2 | |
| Strong Sell | 0 |
Recent rating actions
| 2024-10-14 | Morgan Stanley | → Underweight |
| 2024-10-14 | JP Morgan | → Overweight |
| 2024-10-09 | Truist Securities | → Buy |
| 2024-10-09 | Citigroup | → Buy |
| 2024-09-30 | B of A Securities | → Buy |
| 2024-08-19 | Evercore ISI Group | → In-Line |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-08-04 | Earnings Release, Reg FD Disclosure… | read |
| 2026-06-11 | Shareholder Vote, Reg FD Disclosure… | read |
| 2026-04-30 | Earnings Release, Reg FD Disclosure… | read |
| 2026-04-13 | Other Material Event, Exhibits | read |
| 2026-04-10 | Officer / Director Change, Exhibits | read |
| 2026-03-26 | Other Material Event | read |
| 2026-01-29 | Earnings Release, Reg FD Disclosure… | read |
| 2026-01-06 | Officer / Director Change, Bylaws Amendment… | read |
| 2025-10-29 | Earnings Release, Reg FD Disclosure… | read |
| 2025-09-03 | Material Agreement, Material Obligation… | read |
| 2025-08-28 | Other Material Event, Exhibits | read |
| 2025-08-05 | Earnings Release, Reg FD Disclosure… | read |
Flow & Concentration
| Insider 180d net | $0 |
|---|---|
| Insider buys / sells | 0 / 0 |
| Insider bias | Neutral |
| 13F holders | 9 |
| Top-5 share | 98.8% |
| HHI | 5,272 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $36.62B | 34.39M |
| Fidelity / FMR LLC | $6.16B | 5.78M |
| Citadel Advisors | $5.58B | 5.24M |
| Capital Research / Capital World | $2.01B | 1.88M |
| Millennium Management | $835.58M | 784.66K |
| AQR Capital Management | $533.23M | 505.02K |
| Ark Invest | $59.64M | 56.01K |
| Bridgewater Associates | $7.80M | 7.33K |
| T. Rowe Price Group | $6.57M | 6.17M |
As of 2026-06-30
Dividends
| Yield (TTM) | 0.55% |
|---|---|
| $ / share (TTM) | $4.53 |
| 5y CAGR | +7.2% |
Annual dividend per share
| 2021 | $4.28 |
|---|---|
| 2022 | $4.62 |
| 2023 | $5.00 |
| 2024 | $5.42 |
| 2025 | $5.84 |
| 2026 | $3.02 |
Federal Contracts
| Amount | Agency | Description |
|---|---|---|
| $123.88K | National Aeronautics and Space Administration | FABRICATION/DESIGN |
SEC Filings
The Long Run
FY 2009–2025 · 17 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $64.81B | +1.5% | |
| Gross profit | $2.65B | +7.1% | |
| Operating income | $12.97B | +6.2% | |
| Net income | $2.70B | -23.8% | |
| Cash from ops | $12.04B | +5.3% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $816.34 | $823.00 | $809.05 | $821.58 | 1.98M |
| Sep 24 | $798.87 | $809.14 | $794.20 | $805.25 | 2.20M |
| Sep 23 | $803.97 | $816.76 | $798.53 | $812.02 | 2.79M |
| Sep 22 | $806.06 | $812.46 | $802.61 | $808.01 | 2.06M |
| Sep 21 | $827.00 | $827.81 | $805.24 | $816.50 | 1.87M |
Understand the score. Research layers are inputs to a model, and the available data has limits.
Read the methodology →