CAT Chart
About

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.

Fundamentals
Scroll to Statements
Sector Industrials Industry Farm & Heavy Constructio Market Cap 359.52B
Enterprise Value 392.17B Income 8.88B Sales 67.59B
Book/sh 45.82 Cash/sh 20.06 Dividend Yield 79.00%
Payout 31.05% Employees 118000 IPO —
P/E 40.82 Forward P/E 27.90 PEG —
P/S 5.32 P/B 16.77 P/C —
EV/EBITDA 28.09 EV/Sales 5.80 Quick Ratio 0.87
Current Ratio 1.44 Debt/Eq 206.67 LT Debt/Eq —
EPS (ttm) 18.82 EPS next Y 27.54 EPS Growth -11.40%
Revenue Growth 18.00% Earnings 2026-04-30 ROA 7.89%
ROE 43.53% ROIC — Gross Margin 28.79%
Oper. Margin 16.02% Profit Margin 13.14% Shs Outstand 465.29M
Shs Float 463.87M Short Float 1.33% Short Ratio 2.58
Short Interest — 52W High 789.81 52W Low 267.30
Beta 1.55 Avg Volume 2.76M Volume 2.57M
Target Price $721.14 Recom Buy Prev Close $756.47
Price $768.23 Change 1.55%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$721.14
Mean price target
2. Current target
$768.23
Latest analyst target
3. DCF / Fair value
$225.88
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$768.23
Low
$425.00
High
$877.52
Mean
$721.14

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2024-10-14 main JP Morgan Overweight → Overweight $500
2024-10-14 down Morgan Stanley Equal-Weight → Underweight $332
2024-10-09 main Citigroup Buy → Buy $445
2024-10-09 main Truist Securities Buy → Buy $456
2024-09-30 main B of A Securities Buy → Buy $434
2024-08-19 main Evercore ISI Group In-Line → In-Line $321
2024-08-07 main B of A Securities Buy → Buy $376
2024-08-07 main Barclays Equal-Weight → Equal-Weight $335
2024-08-07 main UBS Sell → Sell $285
2024-08-07 reit Truist Securities Buy → Buy $399
2024-06-28 init Raymond James — → Market Perform —
2024-06-26 init Citigroup — → Buy $380
2024-04-30 main HSBC Hold → Hold $360
2024-04-26 main TD Cowen Buy → Buy $340
2024-04-26 down Stifel Buy → Hold $350
2024-04-18 main Oppenheimer Perform → Perform —
2024-04-16 main JP Morgan Overweight → Overweight $435
2024-04-16 main Goldman Sachs Buy → Buy $408
2024-03-14 init Truist Securities — → Buy $390
2024-02-20 down Evercore ISI Group Outperform → In-Line $338
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 1764 1346620 — Sale at price 763.39 per share. SHURMAN RODNEY MICHAEL Officer — 2026-02-17 00:00:00 D
1 972 742802 — Sale at price 764.20 per share. SCHAUPP WILLIAM E Officer — 2026-02-17 00:00:00 D
2 7891 6130518 — Sale at price 776.90 per share. FASSINO ANTHONY D. Officer — 2026-02-13 00:00:00 D
3 11000 2417360 — Conversion of Exercise of derivative security at price 219.76 per share. FASSINO ANTHONY D. Officer — 2026-02-13 00:00:00 D
4 1690 1312623 — Sale at price 776.70 per share. KAISER JASON Officer — 2026-02-12 00:00:00 D
5 12507 9593870 — Sale at price 767.08 per share. DE LANGE BOB Officer — 2026-02-11 00:00:00 D
6 15000 1914000 — Conversion of Exercise of derivative security at price 127.60 per share. DE LANGE BOB Officer — 2026-02-11 00:00:00 D
7 9055 — — Stock Award(Grant) at price 0.00 per share. FASSINO ANTHONY D. Officer — 2026-02-10 00:00:00 D
8 2469 — — Stock Award(Grant) at price 0.00 per share. KAISER JASON Officer — 2026-02-10 00:00:00 D
9 514 — — Stock Award(Grant) at price 0.00 per share. OWENS DEREK Officer — 2026-02-10 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems66.68M116.38M87.12M-167.56M
TaxRateForCalcs0.240.200.210.24
NormalizedEBITDA14.03B15.45B15.30B12.12B
TotalUnusualItems278.00M592.00M409.00M-710.00M
TotalUnusualItemsExcludingGoodwill278.00M592.00M409.00M-710.00M
NetIncomeFromContinuingOperationNetMinorityInterest8.88B10.79B10.34B6.71B
ReconciledDepreciation2.26B2.15B2.14B2.22B
ReconciledCostOfRevenue46.11B41.48B43.80B41.91B
EBITDA14.30B16.04B15.71B11.41B
EBIT12.04B13.88B13.56B9.20B
NetInterestIncome-502.00M-512.00M-511.00M-443.00M
InterestExpense502.00M512.00M511.00M443.00M
InterestIncome482.00M494.00M167.00M80.00M
NormalizedIncome8.67B10.32B10.01B7.25B
NetIncomeFromContinuingAndDiscontinuedOperation8.88B10.79B10.34B6.71B
TotalExpenses56.44B51.74B54.09B50.60B
TotalOperatingIncomeAsReported11.15B13.07B12.97B7.90B
DilutedAverageShares472.30M489.40M513.60M530.40M
BasicAverageShares470.00M486.70M510.60M526.90M
DilutedEPS18.8122.0520.1212.64
BasicEPS18.9022.1720.2412.72
DilutedNIAvailtoComStockholders8.88B10.79B10.34B6.71B
NetIncomeCommonStockholders8.88B10.79B10.34B6.71B
NetIncome8.88B10.79B10.34B6.71B
MinorityInterests2.00M4.00M3.00M1.00M
NetIncomeIncludingNoncontrollingInterests8.88B10.79B10.33B6.70B
NetIncomeContinuousOperations8.88B10.79B10.33B6.70B
EarningsFromEquityInterestNetOfTax109.00M44.00M63.00M19.00M
TaxProvision2.77B2.63B2.78B2.07B
PretaxIncome11.54B13.37B13.05B8.75B
OtherIncomeExpense892.00M813.00M595.00M366.00M
OtherNonOperatingIncomeExpenses614.00M221.00M186.00M1.08B
SpecialIncomeCharges0.000.00-925.00M0.00
ImpairmentOfCapitalAssets0.000.00925.00M0.00
GainOnSaleOfSecurity278.00M592.00M409.00M215.00M
NetNonOperatingInterestIncomeExpense-502.00M-512.00M-511.00M-443.00M
InterestExpenseNonOperating502.00M512.00M511.00M443.00M
InterestIncomeNonOperating482.00M494.00M167.00M80.00M
OperatingIncome11.15B13.07B12.97B8.83B
OperatingExpense10.33B10.25B10.30B8.68B
OtherOperatingExpenses1.19B1.48B1.82B1.22B
ResearchAndDevelopment2.15B2.11B2.11B1.81B
SellingGeneralAndAdministration6.99B6.67B6.37B5.65B
GrossProfit21.48B23.32B23.26B17.51B
CostOfRevenue46.11B41.48B43.80B41.91B
TotalRevenue67.59B64.81B67.06B59.43B
OperatingRevenue67.59B64.81B67.06B59.43B
Line Item2025-12-312024-12-312023-12-312022-12-31
TreasurySharesNumber349.61M336.96M315.52M298.55M
OrdinarySharesNumber465.29M477.93M499.38M516.35M
ShareIssued814.89M814.89M814.89M814.89M
NetDebt33.34B31.62B30.96B30.10B
TotalDebt43.33B38.41B37.88B36.99B
TangibleBookValue15.76B13.85B13.62B9.82B
InvestedCapital64.64B58.00B57.43B52.97B
WorkingCapital15.93B13.41B12.22B12.25B
NetTangibleAssets15.76B13.85B13.62B9.82B
CapitalLeaseObligations6.00M-103.00M-61.00M-112.00M
CommonStockEquity21.32B19.49B19.49B15.87B
TotalCapitalization52.01B46.95B44.03B41.70B
TotalEquityGrossMinorityInterest21.32B19.49B19.50B15.89B
MinorityInterest0.003.00M9.00M22.00M
StockholdersEquity21.32B19.49B19.49B15.87B
GainsLossesNotAffectingRetainedEarnings-1.77B-2.47B-1.82B-2.46B
OtherEquityAdjustments-1.77B-2.47B-1.82B-2.46B
TreasuryStock49.54B44.33B36.34B31.75B
RetainedEarnings65.45B59.35B51.25B43.51B
CapitalStock7.18B6.94B6.40B6.56B
CommonStock7.18B6.94B6.40B6.56B
TotalLiabilitiesNetMinorityInterest77.27B68.27B67.97B66.05B
TotalNonCurrentLiabilitiesNetMinorityInterest40.71B36.00B33.24B34.52B
OtherNonCurrentLiabilities6.17B4.89B4.67B4.60B
EmployeeBenefits3.84B3.76B4.10B4.20B
NonCurrentPensionAndOtherPostretirementBenefitPlans3.84B3.76B4.10B4.20B
LongTermDebtAndCapitalLeaseObligation30.70B27.35B24.47B25.71B
LongTermCapitalLeaseObligation6.00M-103.00M-61.00M-112.00M
LongTermDebt30.69B27.45B24.53B25.83B
CurrentLiabilities36.56B32.27B34.73B31.53B
OtherCurrentLiabilities2.80B2.91B3.12B2.69B
CurrentDeferredLiabilities3.31B2.32B1.93B1.86B
CurrentDeferredRevenue3.31B2.32B1.93B1.86B
CurrentDebtAndCapitalLeaseObligation12.63B11.06B13.41B11.28B
CurrentDebt12.63B11.06B13.41B11.28B
OtherCurrentBorrowings7.12B6.67B8.76B5.32B
CommercialPaper5.41B3.95B4.07B5.46B
CurrentNotesPayable106.00M447.00M574.00M502.00M
PayablesAndAccruedExpenses17.81B15.98B16.27B15.70B
CurrentAccruedExpenses8.14B7.63B7.71B6.39B
Payables9.67B8.35B8.55B9.31B
DividendsPayable703.00M674.00M649.00M620.00M
AccountsPayable8.97B7.67B7.91B8.69B
TotalAssets98.58B87.76B87.48B81.94B
TotalNonCurrentAssets46.10B42.08B40.53B38.16B
OtherNonCurrentAssets6.10B5.30B5.26B4.59B
NonCurrentDeferredAssets2.88B3.31B2.82B2.21B
NonCurrentDeferredTaxesAssets2.88B3.31B2.82B2.21B
NonCurrentAccountsReceivable16.41B14.47B13.90B13.28B
GoodwillAndOtherIntangibleAssets5.56B5.64B5.87B6.05B
OtherIntangibleAssets241.00M399.00M564.00M758.00M
Goodwill5.32B5.24B5.31B5.29B
NetPPE15.14B13.36B12.68B12.03B
AccumulatedDepreciation-16.77B-16.12B-15.94B-16.04B
GrossPPE31.91B29.48B28.62B28.06B
ConstructionInProgress2.09B1.75B1.26B1.02B
OtherProperties6.00B5.70B5.84B5.57B
MachineryFurnitureEquipment15.43B14.13B13.76B13.84B
BuildingsAndImprovements7.76B7.28B7.15B7.02B
LandAndImprovements616.00M612.00M616.00M622.00M
Properties0.000.000.000.00
CurrentAssets52.48B45.68B46.95B43.78B
OtherCurrentAssets2.80B3.12B4.59B2.64B
PrepaidAssets2.64B2.79B
Inventory18.14B16.83B16.57B16.27B
FinishedGoods8.72B8.33B8.31B8.14B
WorkInProcess1.60B1.44B1.41B1.45B
RawMaterials7.81B7.06B6.85B6.68B
Receivables21.57B18.85B18.82B17.87B
OtherReceivables8.90B
AccountsReceivable21.57B18.85B18.82B17.87B
CashCashEquivalentsAndShortTermInvestments9.98B6.89B6.98B7.00B
CashAndCashEquivalents9.98B6.89B6.98B7.00B
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow7.45B8.82B9.79B5.17B
RepurchaseOfCapitalStock-5.21B-7.70B-4.97B-4.23B
RepaymentOfDebt-8.08B-9.32B-6.32B-7.73B
IssuanceOfDebt11.11B10.28B8.26B6.67B
IssuanceOfCapitalStock20.00M12.00M51.00M135.00M
CapitalExpenditure-4.29B-3.21B-3.09B-2.60B
EndCashPosition9.99B6.90B6.99B7.01B
BeginningCashPosition6.90B6.99B7.01B9.26B
EffectOfExchangeRateChanges-43.00M-106.00M-110.00M-194.00M
ChangesInCash3.13B17.00M82.00M-2.06B
FinancingCashFlow-3.90B-9.56B-6.93B-7.28B
CashFlowFromContinuingFinancingActivities-3.90B-9.56B-6.93B-7.28B
NetOtherFinancingCharges-74.00M-41.00M-10.00M-4.00M
CashDividendsPaid-2.75B-2.65B-2.56B-2.44B
CommonStockDividendPaid-2.75B-2.65B-2.56B-2.44B
NetCommonStockIssuance-5.21B-7.68B-4.96B-4.18B
CommonStockPayments-5.21B-7.70B-4.97B-4.23B
CommonStockIssuance20.00M12.00M51.00M135.00M
NetIssuancePaymentsOfDebt4.13B799.00M594.00M-652.00M
NetShortTermDebtIssuance1.11B-168.00M-1.34B402.00M
NetLongTermDebtIssuance3.02B967.00M1.94B-1.05B
LongTermDebtPayments-8.08B-9.32B-6.32B-7.73B
LongTermDebtIssuance11.11B10.28B8.26B6.67B
InvestingCashFlow-4.71B-2.45B-5.87B-2.54B
CashFlowFromContinuingInvestingActivities-4.71B-2.45B-5.87B-2.54B
NetOtherInvestingChanges-1.67B-1.52B-967.00M9.00M
NetInvestmentPurchaseAndSale517.00M1.63B-2.59B-782.00M
SaleOfInvestment2.49B3.15B1.89B2.38B
PurchaseOfInvestment-1.98B-1.53B-4.48B-3.17B
NetBusinessPurchaseAndSale22.00M-61.00M-4.00M1.00M
SaleOfBusiness22.00M1.00M36.00M
PurchaseOfBusiness-61.00M-4.00M
NetPPEPurchaseAndSale708.00M722.00M781.00M830.00M
SaleOfPPE708.00M722.00M781.00M830.00M
CapitalExpenditureReported-4.29B-3.21B-3.09B-2.60B
OperatingCashFlow11.74B12.04B12.88B7.77B
CashFlowFromContinuingOperatingActivities11.74B12.04B12.88B7.77B
ChangeInWorkingCapital-348.00M-859.00M151.00M-1.80B
ChangeInOtherWorkingCapital1.93B370.00M80.00M768.00M
ChangeInOtherCurrentLiabilities-294.00M-104.00M439.00M-754.00M
ChangeInOtherCurrentAssets-176.00M-97.00M-95.00M-210.00M
ChangeInPayablesAndAccruedExpense1.80B-454.00M528.00M1.21B
ChangeInAccruedExpense625.00M-172.00M1.28B407.00M
ChangeInPayable1.18B-282.00M-754.00M798.00M
ChangeInAccountPayable1.18B-282.00M-754.00M798.00M
ChangeInInventory-1.48B-414.00M-364.00M-2.59B
ChangeInReceivables-2.14B-160.00M-437.00M-220.00M
OtherNonCashItems742.00M564.00M375.00M701.00M
AssetImpairmentCharge0.000.00925.00M0.00
DeferredTax465.00M-621.00M-592.00M-377.00M
DeferredIncomeTax465.00M-621.00M-592.00M-377.00M
DepreciationAmortizationDepletion2.26B2.15B2.14B2.22B
DepreciationAndAmortization2.26B2.15B2.14B2.22B
OperatingGainsLosses-264.00M10.00M475.00M-606.00M
PensionAndEmployeeBenefitExpense-294.00M-154.00M-97.00M-606.00M
GainLossOnSaleOfBusiness30.00M164.00M572.00M0.00
NetIncomeFromContinuingOperations8.88B10.79B10.33B6.70B
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for CAT
Date User Asset Broker Type Position Size Entry Price Patterns