Caterpillar Inc.
- Open
- 841.73
- Day high
- 893.19
- Day low
- 838.33
- Prev close
- 877.17
- Volume
- 3.2M
- Mkt cap
- $405.4B
- P/E (TTM)
- 43.6
- EPS (TTM)
- $20.18
- P/B
- 21.7
- P/S
- 5.7
- Yield
- 0.69%
- Per share
- $6.04
- ▼Insiders net selling -$87.4M over the last 3 months (1 open-market buy, 21 sales)
- 🏛Institutions mixed (13F)
Caterpillar Inc. (CAT) is a Industrials company listed on NYSE. The stock is up 113% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 21 sales (SEC Form 4). Drillr has 14 published research articles covering CAT.
Caterpillar Inc. (CAT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CAT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $4.65 | $5.54 | +19.1% | $17.4B | +5.4% |
| Jan 29, 2026 | $4.71 | $5.16 | +9.6% | $19.1B | +7.2% |
| Oct 29, 2025 | $4.53 | $4.95 | +9.3% | $17.6B | +5.2% |
| Apr 30, 2025 | $4.35 | $4.25 | -2.3% | $14.2B | -3.2% |
| Jan 30, 2025 | $5.06 | $5.14 | +1.6% | $16.2B | -2.4% |
| Oct 30, 2024 | $5.34 | $5.17 | -3.2% | $16.1B | -1.6% |
| Apr 25, 2024 | $5.14 | $5.60 | +8.9% | $15.8B | -1.6% |
| Oct 31, 2023 | $4.79 | $5.52 | +15.2% | $16.8B | +1.7% |
| Aug 1, 2023 | $4.58 | $5.55 | +21.2% | $17.3B | +5.1% |
| Apr 27, 2023 | $3.79 | $4.91 | +29.6% | $15.9B | -1.1% |
| Jan 31, 2023 | $3.95 | $3.86 | -2.3% | $16.6B | +4.9% |
| Oct 27, 2022 | $3.16 | $3.95 | +25.0% | $15.0B | +4.4% |
CAT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | MacLennan Daviddirector | Grant | 22 | — |
| Jun 29, 2026 | Epley Kyle Josephofficer: Chief Financial Officer | Grant | 6 | — |
| Jun 29, 2026 | Creed Joseph Eofficer: Chief Executive Officer | Grant | 16 | — |
| Jun 29, 2026 | Kaiser Jasonofficer: Group President | Grant | 5 | — |
| Jun 11, 2026 | Marks Judith Frandirector | Grant | 211 | — |
| Jun 11, 2026 | KEENE NAZZIC Sdirector | Grant | 211 | — |
| Jun 11, 2026 | Fish James C Jrdirector | Grant | 211 | — |
| Jun 11, 2026 | Johnson Geralddirector | Grant | 211 | — |
| Jun 11, 2026 | REED DEBRA Ldirector | Grant | 211 | — |
| Jun 11, 2026 | MacLennan Daviddirector | Grant | 211 | — |
| Jun 11, 2026 | WILKINS RAYFORD JRdirector | Grant | 211 | — |
| Jun 11, 2026 | SCHWAB SUSAN Cdirector | Grant | 211 | — |
| May 27, 2026 | Epley Kyle Josephofficer: Chief Financial Officer | Grant | 6 | — |
| May 27, 2026 | Creed Joseph Eofficer: Chief Executive Officer | Grant | 18 | — |
| May 15, 2026 | Johnson Denise Cofficer: Group President | Sell | 1,568 | $909.70 |
Source: CAT SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full CAT insider & 13F page →CAT research & analysis
CAT, DE: Trump 'Golden Age' Manufacturing Reality Check
New factory spending declines through Q1 2026. CAT at +62% YTD on commodity cycle, DE flat on agricultural compression — manufacturing 'renaissance' is uneven.
DEUS Factory Orders Flat 2 Months Running: CAT Wins, NUE Lags — 6 Stocks Ranked
US factory orders flat in February for the second month highlight manufacturing weakness, creating winners like diversified Honeywell and backlog-rich Caterpillar, while cyclical steelmaker Nucor and toolmaker Stanley Black & Decker lag. Analysis ranks six industrials/materials stocks by theme exposure, financials, and outlooks. Key: Favor resilience amid stagnation.
DENUEDDStrait of Hormuz Blockade Risk: PG and COST Win While TGT and CAT Face the Squeeze
Potential Strait of Hormuz blockade risks broad inflation, favoring pricing power staples like PG, COST, and WMT while pressuring discretionary TGT and input-heavy CAT/DE. Analysis ranks PG highest conviction amid TTM metrics showing superior margins and growth resilience.
PGCOSTWMTMiddle East War Crushes PMI: XLI, CAT Drop 8% While XLE, XOM Gain 12%
New report details Middle East war's toll on global PMIs, hammering industrials (XLI, CAT down 7-8% monthly) via cost inflation while energy (XLE, XOM up 7-12%) thrives on $110+ oil. Overweight energy for asymmetric upside.
SPYXLEXLIIran War Chaos Hits China Supply Chains — AAPL Ranked Most Exposed Among 6 US Giants
The Iran war's logistics disruptions as of April 11, 2026, are straining China's supply chains, exposing US giants like Apple and Nike to delays and cost hikes. We rank six tickers by vulnerability, with AAPL most at risk due to manufacturing reliance. Financials show resilient growth but thinning margins amid tariffs.
AAPLWMTNKEDollar Weakness From Iran Crisis: Why CAT and AAPL Win While COST Loses
The Iran conflict has exposed structural weaknesses in the US dollar's reserve currency status, creating winners and losers among US multinationals. Caterpillar and Apple stand to benefit most from dollar weakness due to their massive international revenue bases, while Costco faces margin pressure from higher import costs. Microsoft and Exxon present more nuanced cases with offsetting factors.
AAPLMSFTXOMUkraine Aid Surge: Why LMT, RTX, CAT and PWR Are Primed for a Revenue Windfall
European ministers' Ukraine visit highlights surging military aid and reconstruction, benefiting US defense leaders like RTX and LMT via munitions replenishment, and infrastructure firms CAT and PWR through rebuild contracts. With Europe committing billions, these six stocks offer tailwinds from 5-20% revenue growth and strong FCF. Ranked by conviction: RTX tops for balanced exposure.
NOCBARTXStrait of Hormuz Oil Rally: XOM, CVX Gain While CAT and F Face Cost Hit
Trump's Iran speech faded ceasefire hopes, spiking oil on Hormuz fears and favoring XOM, CVX, OXY, COP via upstream leverage while CAT and F suffer cost/demand hits. Energy names show superior returns and margins; industrials lag on exposure.
XOMCVXOXYFed Cut Bets Collapse: JPM, BAC Surge While REITs Like PLD Face Debt Pain
April 1's strong US data reduced Fed cut bets, favoring banks (JPM, BAC) and cyclicals (CAT, XOM) via higher NII and demand, while REITs (PLD, EQIX) face debt headwinds. JPM leads conviction at cheap multiples; ranked picks prioritize resilient earners.
JPMBACXOMUS Manufacturing Hits 2-Year High: CAT and DE Win While CLF and DOW Face Margin Squeeze
US manufacturing's sharp expansion since 2022 boosts machinery demand for CAT, DE, and HON, while surging input costs erode margins at steelmakers NUE/CLF and chemicals firm DOW. CAT leads with record backlog and pricing leverage; CLF lags with negative margins.
DENUEDOWOil Supply Shock: Why XOM and COP Win While CAT and F Face a Cost Squeeze
Javier Blas' alert on oil supply risks spotlights winners like COP and XOM, with superior margins and growth, versus losers F and CAT facing cost squeezes. Ranked conviction favors pure-play producers at attractive valuations amid looming price surge.
XOMCVXCOPHormuz Crisis Sends Oil to $150: XOM, OXY Win Big as CAT and Ford Take the Hit
The April 7 Hormuz crisis spiked oil to $150/bbl, boosting energy producers XOM, CVX, OXY, and COP via upstream leverage while pressuring CAT and F with input costs. OXY leads conviction for its high-beta exposure; industrials lag. Watch geopolitics and inventories for sustainability.
XOMCVXOXYMarket Optimism Surges on April 8: Which Cyclical Powerhouses Will Capitalize on Fading Recession Fears?
Anchored to Bloomberg's April 8, 2026 report of market optimism, this analyzes six cyclicals (JPM, XOM, V, MA, MU, CAT) benefiting from fading recession fears via resilient spending and growth. Micron leads conviction with 85% revenue surge; ranks prioritize exposure and value.
JPMXOMVECB Tightening Warning: JPM, BAC, and CAT Among 6 Stocks With Most EU Revenue at Risk
FT's April 8 warning on ECB tightening revives 2011 fears, hammering US-exposed stocks. JPM, BAC, MS, CAT, HON, and PLD—holding 13-23% Europe revenue—top the risk list amid negative returns and slowing growth. Ranked bears: BAC leads vulnerability.
JPMMSPLD
Caterpillar Inc. company profile
Overview
Caterpillar Inc. (NYSE:CAT) is a Fortune 100 American multinational corporation founded in 1925 through the merger of the Holt Manufacturing Company and the C. L. Best Tractor Company. Originally known as Caterpillar Tractor Co., the company changed its name to Caterpillar Inc. in 1986 and has been publicly traded since 1929. Headquartered in Deerfield, Illinois, Caterpillar has evolved from a tractor manufacturer into the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The company operates globally and is celebrating its 100-year anniversary in 2025, with Jim Umpleby stepping down as CEO and Joe Creed taking over leadership.
Business
Caterpillar operates in the heavy machinery and industrial equipment sector, serving customers across construction, mining, energy, and transportation industries. The company's business is organized into four primary segments: Construction Industries (approximately 37% of total revenue) manufactures earthmoving equipment including excavators, wheel loaders, track-type tractors, motorgraders, backhoe loaders, compactors, and specialized construction vehicles. These machines are used for building roads, structures, and infrastructure projects. The segment also produces compact equipment like skid steer loaders and telehandlers for smaller construction and landscaping applications. Resource Industries (approximately 18% of total revenue) focuses on large-scale mining equipment including electric rope shovels, draglines, hydraulic mining shovels, mining trucks, longwall miners, and rotary drills. This segment also provides autonomous mining solutions and fleet management systems that help mining companies extract coal, copper, iron ore, and other minerals more efficiently and safely. Energy & Transportation (approximately 44% of total revenue) produces reciprocating engines, generator sets, gas turbines, diesel-electric locomotives, and marine engines. These products power everything from backup generators for data centers to locomotives that transport goods across continents. The segment has seen particular growth in power generation applications driven by data center expansion and distributed power needs. Financial Products (approximately 2% of total revenue) provides financing solutions including equipment leases, loans, and insurance products to help customers purchase Caterpillar equipment. This segment supports the core equipment business by making purchases more accessible to customers.
Revenue model
Caterpillar generates revenue primarily through equipment sales, parts and service revenue, and financial services. The company sells its products through a global network of independent dealers who provide local sales, service, and parts support to end customers. Equipment sales constitute the largest revenue stream, with customers including construction contractors, mining companies, governments, and energy producers who purchase new machinery. The company has been experiencing pricing power in recent years, with price increases helping offset manufacturing cost inflation. Services revenue represents a critical and growing component, reaching $24 billion in 2024 (approximately 37% of total revenue). This includes replacement parts, maintenance services, equipment rebuilds, and technology solutions. Services provide higher margins and more predictable revenue streams compared to equipment sales. The company has set an ambitious target of reaching $28 billion in services revenue by 2026. Financial Products generates revenue through interest income on equipment financing, lease payments, and insurance premiums. This segment helps facilitate equipment sales while generating additional profit margins. Several factors influence Caterpillar's profitability: Commodity prices drive demand for mining equipment as higher prices encourage mining investment. Infrastructure spending by governments affects construction equipment demand. Energy market dynamics influence power generation equipment sales, with data center growth providing new opportunities. Manufacturing costs including steel, labor, and supply chain expenses can compress margins if not offset by pricing. Currency fluctuations affect international operations. Economic cycles significantly impact equipment demand, as construction and mining are cyclical industries sensitive to economic conditions.
Competitive moat
Caterpillar possesses several competitive advantages that create a substantial economic moat. The company's global dealer network of independent dealers provides unmatched local service and parts availability, creating high switching costs for customers who rely on ongoing support for their equipment investments. This network has been built over decades and would be extremely difficult for competitors to replicate. The company benefits from significant scale advantages in manufacturing, research and development, and procurement that allow it to spread fixed costs across large production volumes and invest heavily in new technologies. Caterpillar's brand reputation for durability and reliability commands premium pricing, particularly in mission-critical applications where equipment failure can be extremely costly. High customer switching costs strengthen the moat, as customers invest not only in equipment but also in operator training, maintenance procedures, and parts inventory specific to Caterpillar products. The company's growing services and technology ecosystem including autonomous solutions, fleet management, and predictive maintenance creates additional customer stickiness. However, the moat faces challenges from several directions. Chinese competitors like Sany and XCMG have gained market share by offering lower-priced alternatives, particularly in price-sensitive markets. The transition toward electrification and autonomous technology could potentially allow new entrants with different technological capabilities to disrupt traditional competitive dynamics. Economic cyclicality remains a fundamental challenge, as even strong competitive positions cannot fully insulate the company from severe downturns in construction and mining activity.
Risks & safety
Caterpillar demonstrates solid financial stability with manageable risks: • Strong liquidity position: $6.9 billion in cash and short-term investments as of Q4 2024, with additional credit facilities available • Positive free cash flow generation: Generated $8.8 billion in free cash flow for full year 2024, demonstrating strong cash conversion • Moderate debt levels: Debt-to-equity ratio of 1.97, which is reasonable for an industrial company with significant financing operations • Current ratio of 1.42: Adequate working capital to meet short-term obligations Valuation metrics: • P/E ratio of 16.4 based on 2024 earnings appears reasonable for a cyclical industrial company • EV/EBITDA of 13.0 suggests moderate valuation relative to cash generation • Price-to-book ratio of 9.1 reflects premium valuation but justified by strong ROE performance Other considerations: The company faces potential headwinds from tariff impacts ($250-350 million estimated for Q2 2025) and cyclical industry exposure, but strong market position and diversified end markets provide some protection.
Recent development
Over the past few years, Caterpillar has pursued several key strategic initiatives focused on profitable growth and technological advancement. The company has made significant investments in expanding large engine capacity by over 125% compared to 2023 levels, driven by strong demand from data centers and power generation applications. This expansion leverages existing facilities rather than building new factories, improving capital efficiency. Services growth has been a central strategic focus, with the company targeting $28 billion in services revenue by 2026, up from $24 billion in 2024. This initiative includes expanding parts availability, enhancing digital service capabilities, and developing predictive maintenance solutions that help customers optimize equipment performance. The company has accelerated investments in sustainability and electrification technologies, including the development of battery-electric mining trucks, hydrogen-powered equipment, and autonomous mining solutions. Caterpillar has achieved over 5 billion tons moved autonomously across mining sites and continues to expand these capabilities. Power generation and data center markets have emerged as significant growth opportunities, with the company investing heavily to capture demand from cloud computing expansion and artificial intelligence infrastructure. This includes both backup power generation and distributed power solutions. Recent leadership transition includes Jim Umpleby stepping down as CEO with Joe Creed taking over in May 2025, representing planned succession as the company celebrates its centennial anniversary.
CAT company profile · for informational purposes only — not investment advice.
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