Caterpillar Inc. CAT

821.58 16.33 2.03% as of 25 Sep
Market cap
$373.2B
P/E
35.2×
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Caterpillar Inc. (CAT) P/B ratio

As of 25 September 2026, Caterpillar Inc. (CAT) trades at a P/B ratio of 19.5×. Over the past ten years it has ranged from 2.2× (September 2015) to 26.2× (June 2026); the current reading is higher than 97% of that period. That is above the Farm & Heavy Construction Machinery industry median of 1.4× and above the Industrials sector median of 2.4×.

P/B ratio, daily

Annual

Period P/B ratio Change
FY2025 12.6× 39.45%
FY2024 9.1× 18.19%
FY2023 7.7× (3.25%)
FY2022 7.9× 16.32%
FY2021 6.8× 5.74%
FY2020 6.4× 13.60%
FY2019 5.7× 6.22%
FY2018 5.3× (20.94%)
FY2017 6.8× 62.43%
FY2016 4.2× 53.18%

Quarterly

Period P/B ratio Change
Jun 2026 25.3× 43.69%
Mar 2026 17.6× 39.30%
Dec 2025 12.6× 16.70%
Sep 2025 10.8× 10.77%
42 more quarters

Against its own ten years

Low 2.2× High 26.2×
Ten-year median 6.1×
Current reading's percentile 97

P/B ratio against peers

Company P/B ratio
TEX Terex Corporation compare 1.3×
ALG Alamo Group, Inc. compare 1.6×
OSK Oshkosh Corporation compare 1.8×
AGCO AGCO Corporation compare 2.1×
CNH CNH Industrial N.V. compare 2.1×
PCAR PACCAR Inc. compare 2.9×
FSS Federal Signal Corporation compare 4.6×
DE Deere & Company compare 6.7×
CAT Caterpillar Inc. 19.5×
Farm & Heavy Construction Machinery industry median 1.4×
Industrials sector median 2.4×
Market median 1.8×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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