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CATERPILLAR INC CAT

NYSE · stock · Construction Machinery & Equip · website · IPO 1929-12-02 · LEI

CATERPILLAR INC statistics & valuation

Market cap$459.5B
P / S6.8×
P / B21.6×
P / FCF51.5×
Dividend yield0.60%
FCF margin13.2%
Net debt$20.7B
Net debt / EBITDA1.5×
Enterprise value USD$480.2B
EV / EBITDA35.8×
Earnings yield EBIT/EV2.3%
Return on capital18%
Graham number -83.8%$138.21

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($138.21); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
3.00% 9.80% 15.20% 15.40% 10.90% 13.50% 13.30% 19.30% 20.20% 16.50% 2016201720182019202020212022202320242025
Return on equity (%)
2016201720182019202020212022202320242025
Shares outstanding
586.5M 599.3M 599.4M 567.5M 548.6M 548.5M 530.4M 513.6M 489.4M 472.3M 2016201720182019202020212022202320242025
Net debt ($)
$22.82B $23.85B $25.00B $26.28B $16.65B $16.78B $18.71B $17.49B $20.46B $20.72B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
2016201720182019202020212022202320242025
Free cash flow margin (%)
9.70% 10.90% 12.80% 12.00% 10.90% 16.80% 15.50% 13.20% 2016201720182019202020212022202320242025
Debt / equity (×)
1.72× 1.73× 1.78× 1.80× 1.69× 1.58× 1.62× 1.25× 1.40× 1.44× 2016201720182019202020212022202320242025
EPS ($)
-$0.11 $1.26 $10.26 $10.74 $5.46 $11.83 $12.64 $20.12 $22.05 $18.81 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

CATERPILLAR INC trades at about 45.5× earnings — above its 10-year norm (10-year range 12.2×–129.2×, median 17×).

12.2× 129.2×

Shaded band = 10-year range (12.2×–129.2×); dot = today's 45.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin16.5%20.2%19.3%13.3%13.5%10.9%15.4%15.2%9.8%3.0%
FCF margin13.2%15.5%16.8%10.9%12.0%12.8%10.9%9.7%——
Debt / equity1.44×1.40×1.25×1.62×1.58×1.69×1.80×1.78×1.73×1.72×
Current ratio1.441.421.351.391.461.531.471.371.351.22

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.