Caterpillar Inc. (CAT) Stock Price & Analysis
Caterpillar Inc. (CAT) closed at USD 704.05 on Thursday, October 22, 2026, down 4.89% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 740.21; the Oct 22, 2026 session ranged USD 695.33–722.05 on volume of 3,091,542 shares. Market capitalization is $323.63B, with a 52-week range of USD 513.01–1,073.46 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:26 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CAT.md
Key facts (CAT)
- Last four reported quarters (through Jun 30, 2026): revenue $74.7B, net income $10.8B (14.5% margin), free cash flow $10.7B (SEC filings).
- Valuation: P/E 29.9x (avg 20.6x at the last 3 fiscal year-ends).
- 6 of 80 tracked superinvestors hold CAT (13F, Q2 2026): 0 new, 0 added, 3 reduced, 3 unchanged.
- Analysts: Buy (mean 2.45 on a 1–5 scale) (29 analysts), mean target USD 945.76 (range 575–1,155).
- Total return with dividends: 1Y +36.1% vs S&P 500 +14.9%; 5Y +280.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 7.03, revenue estimate $20.7B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CAT)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $51.0B | $59.4B | $67.1B | $64.8B | $67.6B | $74.7B |
| Gross profit | $15.5B | $18.1B | $24.3B | $24.6B | $22.8B | — |
| Operating income | $6.88B | $7.90B | $13.0B | $13.1B | $11.2B | $13.1B |
| Net income | $6.49B | $6.70B | $10.3B | $10.8B | $8.88B | $10.8B |
| EPS (diluted) | $11.83 | $12.64 | $20.12 | $22.05 | $18.81 | — |
| Free cash flow | $6.11B | $6.47B | $11.3B | $10.0B | $8.92B | $10.7B |
| Gross margin | 30.3% | 30.4% | 36.2% | 38.0% | 33.8% | — |
| Operating margin | 13.5% | 13.3% | 19.3% | 20.2% | 16.5% | 17.5% |
| Net margin | 12.7% | 11.3% | 15.4% | 16.6% | 13.1% | 14.5% |
| Revenue growth | +22.1% | +16.6% | +12.8% | -3.4% | +4.3% | — |
| Cash + short-term investments | $9.25B | $7.00B | $6.98B | $6.89B | $9.98B | — |
| Total debt | $31.4B | $31.7B | $29.1B | $31.7B | $36.2B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CAT)
P/E 29.9x · P/S 4.3x · P/FCF 30.3x · P/B 16.7x · FCF yield 3.31% · Earnings yield 3.35% · Dividend yield (paid, TTM) 0.87% · Buyback yield (TTM) 2.23%
P/E at fiscal year-ends: Dec 2025 30.5x, Dec 2024 16.5x, Dec 2023 14.7x.
Superinvestors (SEC 13F-HR, Q2 2026) (CAT)
6 of 80 tracked investors hold CAT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bill Gates | Gates Foundation Trust | 19.65% | $6.77B | Unchanged |
| Thomas Gayner | Markel Group | 2.67% | $350M | Unchanged |
| Mairs & Power | Mairs & Power Funds | 0.18% | $19.3M | Reduced -1.9% |
| Dodge & Cox Funds | Dodge & Cox | 0.02% | $42.0M | Reduced -1.5% |
| Thomas Russo | Gardner Russo & Quinn | <0.01% | $282K | Reduced -41.1% |
| Bill Nygren | Oakmark Funds | <0.01% | $2.0M | Unchanged |
Analysts (CAT)
Consensus Buy (mean 2.45 on a 1–5 scale), 29 analysts; mean target USD 945.76 (low 575, high 1,155).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | Oppenheimer | Target lowered | Outperform | $1118 → $1009 |
| 2026-10-12 | Citigroup | Target lowered | Buy | $1100 → $950 |
| 2026-10-05 | Truist Securities | Target lowered | Buy | $1225 → $1100 |
| 2026-09-10 | Freedom Broker | Upgrade | Hold → Buy | $980 |
| 2026-08-11 | Evercore ISI Group | Target lowered | Outperform | $1103 → $1045 |
| 2026-08-06 | DA Davidson | Target raised | Neutral | $845 → $882 |
| 2026-08-06 | Barclays | Target raised | Equal-Weight | $800 → $900 |
| 2026-08-05 | UBS | Target raised | Neutral | $900 → $925 |
| 2026-08-05 | Truist Securities | Target raised | Buy | $1218 → $1225 |
| 2026-08-05 | RBC Capital | Target raised | Sector Perform | $877 → $897 |
| 2026-07-29 | Baird | Downgrade | Outperform → Neutral | $1200 → $900 |
| 2026-07-14 | Citigroup | Target raised | Buy | $1020 → $1100 |
Total return (dividends reinvested) (CAT)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +36.1% | +280.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +36.2% | +30.5% |
| Volatility (annualized) | 40.3% | 31.4% |
| Max drawdown | -33.8% (Jun 2026→Oct 2026) | -29.3% (Jan 2025→Mar 2025) |
Companies that name CAT in their SEC reports
| Relationship to CAT | Company | Filing | Sentence |
|---|---|---|---|
| partner | DONALDSON Co INC (DCI) | 10-K Sep 25, 2026 | “The Company has an unconsolidated joint venture, Advanced Filtration Systems Inc. (AFSI), established by the Company and Caterpillar Inc. (Caterpillar) in 1986.” |
| partner | Applied Digital Corp. (APLD) | 10-K Jul 29, 2026 | “Because power distribution, cooling architecture, and data hall layouts are standardized across our campuses, we are able to consolidate purchasing around a common set of trusted, qualified partners—including ABB for electrical equipment, BASX for mechanical and cooling systems, and Caterpillar for backup generation—and to place bulk orders against a multi-gigawatt development pipeline.” |
| competitor | Capstone Energy Plus, Inc. (CEPL) | 10-K Jun 25, 2026 | “Key competitors in this category include Caterpillar Inc., Cummins Inc., and Innio Jenbacher and MTU amongst others.” |
| supplier | RBC Bearings INC (RBC) | 10-K May 15, 2026 | “largest industrial customers include Caterpillar, Komatsu and Halliburton and various aftermarket distributors including Motion Industries,” |
| competitor | Titan Machinery Inc. (TITN) | 10-K Mar 31, 2026 | “Our competitors range from multi-location, regional operators to single-location dealers and include dealers and distributors of competing equipment brands, including Deere, Caterpillar, Kubota, and the AGCO brands, as well as other dealers and distributors of the CNH family of brands.” |
| competitor | ProFrac Holding Corp. (ACDC) | 10-K Mar 13, 2026 | “Competitors to our Manufacturing segment include Caterpillar, Inc., Gardner Denver, and EnQuest Energy Solutions, among others.” |
| competitor | CNH Industrial N.V. (CNH) | 10-K Feb 26, 2026 | “Our principal competitors in the construction equipment market are Caterpillar Inc., Komatsu Ltd., J C Bamford Excavators Ltd., Hitachi Construction Machinery Co, Ltd., Volvo Group, Liebherr Group, Develon, Bobcat, Kubota Tractor Corporation, SANY Heavy Industry Co., Ltd and Deere & Company.” |
| supplier | TITAN INTERNATIONAL INC (TWI) | 10-K Feb 26, 2026 | “Customers including AGCO Corporation, Caterpillar Inc., CNH Global N.V., Deere & Company, Hitachi, Ltd., Kubota Corporation, Liebherr, and Volvo have helped sustain Titan's market leading position in wheel, tire, assembly, and undercarriage products.” |
| supplier | TRIMBLE INC. (TRMB) | 10-K Feb 25, 2026 | “These go-to-market capabilities include: direct sales to end users; independent dealers; joint ventures, including with Caterpillar, AGCO Corporation ("AGCO"), Hilti, and Nikon;” |
| competitor | Hyliion Holdings Corp. (HYLN) | 10-K Feb 25, 2026 | “Key generator manufacturing competitors include Cummins, Bloom Energy, Generac, Rehlko (formerly Kohler), Caterpillar, Mainspring and Jenbacher, several of which maintain the largest market shares in the sector.” |
| competitor | Allison Transmission Holdings Inc (ALSN) | 10-K Feb 24, 2026 | “Competition in this end market for 2025 included Caterpillar Inc. ("Caterpillar"), Twin Disc, Inc. ("Twin Disc") and certain alternative hydraulic fracturing technologies.” |
| partner | ProPetro Holding Corp. (PUMP) | 10-K Feb 19, 2026 | “Our Master Loan and Security Agreement and our First Amendment to Master Loan and Security Agreement with Caterpillar Financial Services Corporation (collectively, the "Caterpillar Equipment Loan Agreement") also contains certain operating and financial covenants.” |
| competitor | GENERAC HOLDINGS INC. (GNRC) | 10-K Feb 18, 2026 | “C&I products – Competitors include Caterpillar, Cummins, Rehlko (formerly known as Kohler Power), IGSA, MTU (Rolls Royce), AKSA, MultiQuip, Wacker, Doosan, Atlas Copco, Himoinsa, Woodward, Planelec, and Co-map, as well as other domestic and foreign competitors that package engines and alternators into power generation equipment in local markets around the world.” |
| supplier | Otter Tail Corp (OTTR) | 10-K Feb 18, 2026 | “Our customers include some of the largest vehicle and equipment manufacturers operating in the U.S., including Caterpillar Inc., CNH Industrial N.V., Cummins Inc., Deere & Company, Honda Motor Co., Kawasaki Heavy Industries, Polaris Inc. and The Toro Company.” |
| customer | USA Compression Partners, LP (USAC) | 10-K Feb 17, 2026 | “The fleet of compression units that we own and use to provide compression services consists of specially engineered compression units that utilize standardized components, principally engines manufactured by Caterpillar Inc. and compressor frames and cylinders manufactured by Ariel Corporation.” |
CAT analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $7.03 | $6.48 | +8.6% | $20.69B | 22 |
| Next quarter (ends Dec 2026) | $6.99 | $6.71 | +4.1% | $21.42B | 21 |
| Current fiscal year (ends Dec 2026) | $27.33 | $24.72 | +10.5% | $79.60B | 27 |
| Next fiscal year (ends Dec 2027) | $32.59 | $30.45 | +7.0% | $88.67B | 27 |
Key Statistics (as of October 23, 2026 at 09:26 UTC)
| Price | USD 704.05 |
|---|---|
| Change | ▼ 4.89% (down) |
| Previous Close | USD 740.21 |
| Open | USD 721.37 |
| Day Range | USD 695.33 – 722.05 |
| 52-Week Range | USD 513.01 – 1,073.46 |
| Volume | 3,091,542 shares |
| Market Cap | $323.63B |
| Exchange | NYQ |
Technical Analysis (CAT)
Nexqual's technical model rates CAT "SELL" based on 2 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:26 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 28.88 (oversold) |
| vs SMA50 | Below (USD 803.09) |
| MACD | -26.18 (negative) |
Analyst Ratings (CAT)
Wall Street analysts rate CAT "Buy" based on 29 analysts, with a mean price target of USD 945.76 (range USD 575–1,155), per Nexqual as of October 23, 2026 at 09:26 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 29 |
| Mean Target | USD 945.76 |
| High Target | USD 1,155 |
| Low Target | USD 575 |
| Buy / Hold / Sell | 16 / 12 / 1 |
Earnings (CAT)
| Next Earnings Date | 2026-10-29 |
|---|---|
| EPS Estimate | USD 7.03 |
| Revenue Estimate | $20.69B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 8.17 vs est 6.2 ▲ beat |
| 2026-03-31 | USD 5.54 vs est 4.64 ▲ beat |
| 2025-12-31 | USD 5.16 vs est 4.71 ▲ beat |
| 2025-09-30 | USD 4.95 vs est 4.52 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Financials & Fundamentals (CAT)
| Total Revenue | $74.73B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +24.00% |
| Gross Margin | +29.71% |
| Operating Margin | +22.18% |
| Profit Margin | +14.51% |
| ROE | +56.97% |
| Debt / Equity | 2.33 |
| Current Ratio | 1.37 |
| Total Cash | $5.94B |
| Total Debt | $45.15B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $10.70B (14.3% of revenue) |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Financial Health Score (CAT)
Nexqual rates Caterpillar Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:26 UTC.
| Growth | Mixed — Revenue +4.3% YoY (annual), slow |
|---|---|
| Profitability | Solid — Gross margin 30%, operating 22% (last 12 months) |
| Balance Sheet | Weak — $9.98B cash and investments vs $36.2B debt (Dec 2025, SEC) |
| Cash Flow | Solid — FCF $10.7B (last 4 quarters to Jun 2026, SEC), 14% margin |
| Efficiency | Strong — ROE 57%, ROA 9.0% |
Ownership (CAT)
| Insider Ownership | +0.22% |
|---|---|
| Institutional Ownership | +73.47% |
| Shares Outstanding | 459.67M |
| Float | 458.22M |
| Short % of Float | +1.94% |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Leadership (CAT)
Caterpillar Inc. is led by Joseph E. Creed, Chairman & CEO, per Nexqual as of October 23, 2026 at 09:26 UTC.
| Chairman & CEO | Joseph E. Creed |
|---|---|
| Group President of Resource Industries | Denise C. Johnson |
| Group President of Services, Distribution & Digital | Bob De Lange |
| Chief Financial Officer | Kyle J. Epley |
| Senior VP & CTO | Jaime Mineart |
Major Backers & Investors (CAT)
Notable institutional backers of Caterpillar Inc. include State Farm Mutual Automobile Insurance Co, Fisher Asset Management, LLC, Morgan Stanley, according to Nexqual as of October 23, 2026 at 09:26 UTC.
Active Investors
| Investor | Stake |
|---|---|
| State Farm Mutual Automobile Insurance Co | 3.16% |
| Fisher Asset Management, LLC | 2.16% |
| Morgan Stanley | 1.63% |
| JPMorgan | 1.59% |
| Gates Foundation Trust | 1.38% |
| Fidelity | 1.3% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 9.16% |
| BlackRock | 8.26% |
| State Street | 7.48% |
| Geode Capital | 2.43% |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| DE | Deere & Company | USD 643.62 | ▲ 1.11% |
| PCAR | PACCAR Inc. | USD 109.59 | ▼ 0.57% |
| CNH | CNH Industrial N.V. | USD 11.58 | ▲ 0.52% |
| OSK | Oshkosh Corporation (Holding Co | USD 134.29 | ▼ 0.91% |
| AGCO | AGCO Corporation | USD 106.17 | ▲ 0.9% |
| FSS | Federal Signal Corporation | USD 115.54 | ▼ 0.99% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:26 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt