A Business at a Glance
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Originally organized as Caterpillar Tractor Co. in 1925 in the State of California, our company was reorganized as Caterpillar Inc. in 1986 in the State of Delaware. As used herein, the term “Caterpillar,” “we,” “us,” “our” or “the company” refers to Caterpillar Inc. and its subsidiaries unless designated or identified otherwise. With 2025 sales and revenues of $67.589 billion, Caterpillar Inc. is shaping the future as the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Backed by one of the largest independent global dealer networks and financing services through Cat Financial, the company’s primary business segments: Power & Energy, Construction Industries and Resource Industries are solving customers’ toughest challenges through commercial excellence and advanced technology, driven by a highly skilled, dedicated global team.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 67.6B | 67.6B | 64.8B | 67.1B | 59.4B | 51.0B |
| Net Income | 8.9B | 8.9B | 10.8B | 10.3B | 6.7B | 6.5B |
| EPS | $18.81 | $18.81 | $22.05 | $20.12 | $12.64 | $11.83 |
| Free Cash Flow | 7.5B | 7.5B | 8.8B | 9.8B | 5.2B | 4.7B |
| ROIC | 19.3% | 24.4% | 29.6% | 30.2% | 20.6% | 20.8% |
| Gross Margin | 33.8% | 33.8% | 38.0% | 36.2% | 30.4% | 30.3% |
| Debt/Equity | 1.53 | 1.53 | 1.53 | 1.45 | 1.72 | 1.70 |
| Dividends/Share | $5.82 | $5.94 | $5.53 | $5.10 | $4.71 | $4.36 |
| Operating Income | 11.2B | 11.2B | 13.1B | 13.0B | 7.9B | 6.9B |
| Operating Margin | 16.5% | 16.5% | 20.2% | 19.3% | 13.3% | 13.5% |
| ROE | 41.7% | 43.5% | 55.4% | 53.0% | 42.2% | 39.3% |
| Shares Outstanding | 472M | 472M | 489M | 514M | 530M | 549M |
CATERPILLAR INC passes 7 of 9 quality checks, indicating strong fundamentals.
CATERPILLAR INC trades at 42.1x trailing earnings, compared to its 15-year median P/E of 16.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 41.3x vs a median of 20.5x. The company's 5-year average ROIC is 25.1% with a gross margin of 33.7%. Total shareholder yield (dividends + buybacks) is 2.1%. At current prices, the estimated annualized return to fair value is +23.8%.
CATERPILLAR INC (CAT) has a current P/E ratio of 42.1, compared to its historical median P/E of 16.2. The stock is currently considered Expensive based on its historical valuation range.
CATERPILLAR INC (CAT) has a 5-year average return on invested capital (ROIC) of 25.1%. This indicates strong capital allocation and a potential competitive advantage.
CATERPILLAR INC (CAT) has a market capitalization of $373.9B. It is classified as a mega-cap stock.
Yes, CATERPILLAR INC (CAT) pays a dividend with a trailing twelve-month yield of 0.74%. The company also returns capital through share buybacks, with a buyback yield of 1.39%.
Based on historical P/E analysis, CATERPILLAR INC (CAT) appears expensive. The current P/E of 42.1 is 160% above its historical median of 16.2. The estimated fair value CAGR (P/E method) is 18.7%.
CATERPILLAR INC (CAT) operates in the Construction Machinery & Equip industry, within the Industrials sector.
CATERPILLAR INC (CAT) reported annual revenue of $67.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
CATERPILLAR INC (CAT) has a net profit margin of 13.1%. This is a healthy margin.
CATERPILLAR INC (CAT) generated $7.5 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CATERPILLAR INC (CAT) has a debt-to-equity ratio of 1.53. This indicates higher leverage, which may increase financial risk.
CATERPILLAR INC (CAT) reported earnings per share (EPS) of $18.81 in its most recent fiscal year.
CATERPILLAR INC (CAT) has a return on equity (ROE) of 43.5%. This indicates the company generates strong returns for shareholders.
CATERPILLAR INC (CAT) has a 5-year average gross margin of 33.7%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for CATERPILLAR INC (CAT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CATERPILLAR INC (CAT) has a book value per share of $45.14, based on its most recent annual SEC filing.