This is the standing evidence sheet for Caterpillar (CAT): the yardsticks BullScope computes from official SEC filings and market prices. It refreshes whenever a new edition of our research is published, and it is impersonal by design, every reader sees the same page. Nothing here is investment advice; it is the evidence, organized.
The price tag: what buyers pay per dollar of profit
Today the market pays about $43.4 for each $1 of Caterpillar’s annual profit (a price-to-earnings ratio of 43.4). Across its own past decade the typical price tag was 19.3, which puts today at roughly the 93th percentile of the company’s own history.
The tape: what the stock itself has done
- Last price: $812.02 (end-of-day market data as of the edition date · methodology) · 24% below its 52-week high
- Past 6 months: +13.3% · past 12 months: +72.0%
- Day-to-day temperament: jumpy (annualized volatility 40%)
The filed record: straight from the annual reports
| Fiscal year | Revenue | Growth | Operating margin | EPS |
|---|---|---|---|---|
| FY2021 | $51.0B | , | 13.5% | $11.83 |
| FY2022 | $59.4B | +16.6% | 13.3% | $12.64 |
| FY2023 | $67.1B | +12.8% | 19.3% | $20.12 |
| FY2024 | $64.8B | -3.4% | 20.2% | $22.05 |
| FY2025 | $67.6B | +4.3% | 16.5% | $18.81 |
The road ahead: filed results vs published expectations
| FY2023A | FY2024A | FY2025A | FY2026E | FY2027E | |
|---|---|---|---|---|---|
| Net sales ($B) | 67.1 | 64.8 | 67.6 | 72.0 to 79.0 | 74.0 to 85.0 |
| Net sales growth (%) | +4.4 | -3.4 | +4.3 | 6.0 to 12.0 | 3.0 to 3.6 |
| Operating margin (%) | 19.4 | 20.2 | 16.5 | 17.5 to 19.5 | 17.0 to 20.0 |
| Diluted EPS ($) | 20.12 | 22.05 | 18.81 | 19.83-25.33 | 19.33-27.83 |
Columns marked A are actual filed results; E columns are the published consensus ranges the current price is being weighed against.
The four gauges: from the latest edition
BullScope coverage of Caterpillar
- Caterpillar renews three-year credit facility with unchanged $4 billion commitment as borrowing costs shift to SOFR
- Caterpillar’s revenue surges 24% to $20.5 billion as volume and pricing both accelerate, lifting margins to 20.9%
- The Machine That Reads the Economy: What Caterpillar’s Record Backlog Is Actually Saying
Read the full report on Caterpillar in the BullScope Terminal → It opens with this company loaded.
Edition date: 2026-08-13. This page updates when a new edition is published. Sources: SEC EDGAR filings, Nasdaq prices; computed by BullScope’s published methodology.
