Caterpillar Inc (CAT)
Industrials · Construction Machinery & Heavy Transportation Equipment · US stock · S&P 500 component
$730.76
▼ -4.88 (0.66%)
Fair valueFair
$617 −15.6% to fair value
$308fair band $432–$802$925
Day's range
$728.69 – $742.98
52-week range
$507.11 – $1,071.47
About Caterpillar Inc
Construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives are what Caterpillar builds. Customers include contractors, miners, quarry operators, energy companies, rail operators and utilities, and most equipment reaches them through an independent dealer network. The business is organised into construction industries, resource industries, energy and transportation, and a financial products division that provides financing for its machines.
Caterpillar earns revenue from machine and engine sales, from parts and services, and from interest and fees on financing. Revenue over the last twelve months was $74.7 billion, growing at 4.4% a year across the last three years. The operating margin is 17.5%, and the business earns a profit of 79% on the capital invested in it. A dividend is paid, with a yield of 0.8%. On the site's X-Ray Score it receives 45 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $507.11 – $1,071.47Volume 2,868,560Daily, split-adjusted
Vitals
Market cap$338.0B
52-week range$507.11 – $1,071.47
Volume (last day)2,868,560
P/E (TTM)31.5
EBIT / EV yield4.0%
Free-cash-flow yield3.2%
Dividend yield0.8%
Revenue (TTM)$74.7B
Net income (TTM)$10.8B
Operating margin17.5%
Return on capital79.0%
Debt incl. leasesData missing
Cash & securities$6.7B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$617model spread $587 – $652
Fair
−15.6% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Multiples use through-the-cycle earnings (0.89x of the last twelve months)
Price $731
Undervalued < $432Fair $432 – $802Overvalued > $802
10-year DCF (market-scaled)
$670
Peer multiples
$563
Earnings power floor (not blended)
$232
Fundamentals-adjusted multiple
$616
Growth the price implies
19.3%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Valuation
Weak
32/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield4.0%
Free-cash-flow yield3.2%
Fair value vs price0.8×
Growth
Weak
40/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)4.4%
EPS growth (3y)14.2%
Growth consistency40%
Profitability
Fair
59/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital79.0%
Operating margin17.5%
Gross profitability25.0%
Financial health
Weak
49/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Interest coverNo interest cost
Dividends
Weak
48/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield0.8%
Dividends vs free cash flow27%
Dividend growth4.1%
Quarterly results: last 6 quarters
-9.8%
Mar '25
-0.7%
Jun '25
+9.5%
Sep '25
+18.0%
Dec '25
+22.2%
Mar '26
+24.0%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $20.5B, diluted EPS $7.77.
Compare with peers
CMI Cummins Inc55 PCAR Paccar Inc43 WAB Westinghouse Air Brake...40Other Construction Machinery & Heavy Transportation Equipment companies by X-Ray Score.
Fundamentals checklist
● 3 Good · ● 7 Average · ● 5 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Altman Z''Average
Piotroski F-ScoreBad
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyBad
Balance sheet
Current ratioAverage
Interest coverGood
Valuation
Fair value vs priceAverage
EBIT / EV yieldBad
Profitability
Return on invested capitalGood
Operating marginAverage
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 48/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $51.0B | $59.4B | $67.1B | $64.8B | $67.6B |
| Operating income | $6.9B | $7.9B | $13.0B | $13.1B | $11.2B |
| Net income | $6.5B | $6.7B | $10.3B | $10.8B | $8.9B |
| Operating cash flow | $7.2B | $7.8B | $12.9B | $12.0B | $11.7B |
| Operating margin | 13.5% | 13.3% | 19.3% | 20.2% | 16.5% |
| Free cash flow | $6.1B | $6.5B | $11.3B | $10.0B | $8.9B |
| Diluted EPS | $11.83 | $12.64 | $20.12 | $22.05 | $18.81 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
3 bullish · 1 neutral · 12 bearish
Weekly
Bearish
4 bullish · 1 neutral · 7 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 791.0 | Bearish |
| EMA 10 | 775.9 | Bearish |
| SMA 20 | 805.1 | Bearish |
| EMA 20 | 793.2 | Bearish |
| SMA 50 | 812.8 | Bearish |
| EMA 50 | 815.7 | Bearish |
| SMA 100 | 864.9 | Bearish |
| EMA 100 | 824.2 | Bearish |
| SMA 200 | 804.2 | Bearish |
| EMA 200 | 777.9 | Bearish |
Oscillators (daily)
| RSI (14) | 30.67 | Neutral |
| MACD (12, 26) | -17.69 | Bearish |
| Momentum (12) | -9.87 | Bearish |
| Stochastic %K (14) | 15.47 | Bullish |
| Williams %R (14) | -84.53 | Bullish |
| CCI (20) | -192.0 | Bullish |
Pivot points (classic, last session)
S3 711.0 | S2 719.9 | S1 725.3 | Pivot 734.1 | R1 739.6 | R2 748.4 | R3 753.9 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
6.16 USD
Yield on today's price
0.84%
Frequency
Quarterly
Next ex-dividend date
26 Oct 2026
| Ex-dividend date | Amount per share |
|---|---|
| 26 Oct 2026 (upcoming) | 1.6300 |
| 20 Jul 2026 | 1.6300 |
| 20 Apr 2026 | 1.5100 |
| 20 Jan 2026 | 1.5100 |
| 20 Oct 2025 | 1.5100 |
| 21 Jul 2025 | 1.5100 |
| 21 Apr 2025 | 1.4100 |
| 21 Jan 2025 | 1.4100 |
| 21 Oct 2024 | 1.4100 |
| 22 Jul 2024 | 1.4100 |
| 19 Apr 2024 | 1.3000 |
| 19 Jan 2024 | 1.3000 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
CAT SEC filings
15 Oct 2026
8-KSEC EDGAR
Director or officer change; Other events
1 Sep 2026
8-KSEC EDGAR
Entered a material agreement
5 Aug 2026
10-QSEC EDGAR
Quarterly report
4 Aug 2026
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
11 Jun 2026
8-KSEC EDGAR
Shareholder vote results; Regulation FD disclosure
6 May 2026
10-QSEC EDGAR
Quarterly report
30 Apr 2026
DEF 14ASEC EDGAR
Proxy statement
30 Apr 2026
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.