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Caterpillar Valuation Multiples

Discover revenue and EBITDA valuation multiples for Caterpillar and similar public comparables like Escorts Kubota, Aalberts, and ABB India.

Caterpillar Overview

About Caterpillar

Caterpillar is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Its reporting segments are: construction industries (40% sales/47% operating profit, or OP), resource industries (20% sales/19% OP), and energy & transportation (40% sales/34% OP). Market share approaches 20% across many products. Caterpillar operates a captive finance subsidiary to facilitate sales. The firm has global reach (46% US sales/54% ex-US). Construction skews more domestic, while the other divisions are more geographically diversified. An independent network of 156 dealers operates approximately 2,800 facilities, giving Caterpillar reach into about 190 countries for sales and support services.


Founded

1986

HQ

United States of America
Employees

112.9K+

Website

caterpillar.com

Financials

LTM Revenue $64.4B

LTM EBITDA $14.8B

EV

$174B

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Caterpillar Financials

Caterpillar has a last 12-month revenue of $64.4B and a last 12-month EBITDA of $14.8B.

In the most recent fiscal year, Caterpillar achieved revenue of $64.8B and an EBITDA of $16.0B.

Caterpillar expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Caterpillar P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $67.1B $64.8B XXX XXX XXX
Gross Profit $17.5B $23.3B XXX XXX XXX
Gross Margin 26% 36% XXX XXX XXX
EBITDA $15.7B $16.0B XXX XXX XXX
EBITDA Margin 23% 25% XXX XXX XXX
Net Profit $6.7B $10.3B XXX XXX XXX
Net Margin 10% 16% XXX XXX XXX
Net Debt $30.1B $31.0B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Caterpillar Stock Performance

As of April 15, 2025, Caterpillar's stock price is $298.

Caterpillar has current market cap of $142B, and EV of $174B.

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Caterpillar Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$174B $142B XXX XXX XXX XXX $21.33

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Caterpillar Valuation Multiples

As of April 15, 2025, Caterpillar has market cap of $142B and EV of $174B.

Caterpillar's trades at 2.7x LTM EV/Revenue multiple, and 11.8x LTM EBITDA.

Analysts estimate Caterpillar's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Caterpillar Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $174B XXX XXX XXX
EV/Revenue 2.7x XXX XXX XXX
EV/EBITDA 10.8x XXX XXX XXX
P/E 13.2x XXX XXX XXX
P/E/Growth -3.9x XXX XXX XXX
EV/FCF 19.7x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Caterpillar Valuation Multiples

Caterpillar's NTM/LTM revenue growth is 0%

Caterpillar's revenue per employee for the last fiscal year averaged $0.6M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Caterpillar's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Caterpillar's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Caterpillar Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -3% XXX XXX XXX XXX
EBITDA Margin 25% XXX XXX XXX XXX
EBITDA Growth 2% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 25% XXX XXX XXX XXX
Revenue per Employee $0.6M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue 3% XXX XXX XXX XXX
Opex to Revenue 16% XXX XXX XXX XXX

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Caterpillar Public Comps

See public comps and valuation multiples for Machinery and Industrial Parts comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
Aalberts XXX XXX XXX XXX XXX XXX
ABB India XXX XXX XXX XXX XXX XXX
Cummins India XXX XXX XXX XXX XXX XXX
Escorts Kubota XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Caterpillar M&A and Investment Activity

Caterpillar acquired  XXX companies to date.

Last acquisition by Caterpillar was  XXXXXXXX, XXXXX XXXXX XXXXXX . Caterpillar acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Caterpillar

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Caterpillar

When was Caterpillar founded? Caterpillar was founded in 1986.
Where is Caterpillar headquartered? Caterpillar is headquartered in United States of America.
How many employees does Caterpillar have? As of today, Caterpillar has 112.9K+ employees.
Who is the CEO of Caterpillar? Caterpillar's CEO is Mr. D. James Umpleby, III.
Is Caterpillar publicy listed? Yes, Caterpillar is a public company listed on NYS.
What is the stock symbol of Caterpillar? Caterpillar trades under CAT ticker.
When did Caterpillar go public? Caterpillar went public in 1929.
Who are competitors of Caterpillar? Similar companies to Caterpillar include e.g. , Aalberts, ABB India, Cummins India.
What is the current market cap of Caterpillar? Caterpillar's current market cap is $142B
What is the current revenue of Caterpillar? Caterpillar's last 12-month revenue is $64.4B.
What is the current EBITDA of Caterpillar? Caterpillar's last 12-month EBITDA is $14.8B.
What is the current EV/Revenue multiple of Caterpillar? Current revenue multiple of Caterpillar is 2.7x.
What is the current EV/EBITDA multiple of Caterpillar? Current EBITDA multiple of Caterpillar is 11.8x.
What is the current revenue growth of Caterpillar? Caterpillar revenue growth between 2023 and 2024 was -3%.
Is Caterpillar profitable? Yes, Caterpillar is EBITDA-positive (as of the last 12 months).

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