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Caterpillar Inc.

CAT Industrials Farm & Heavy Construction Machinery

Caterpillar Inc.’s revenue for fiscal 2025 (year ended December 2025) was $67.6 billion, up 4.29% from fiscal 2024.

Revenue: +17.3%
EPS: +45.8%
Free cash flow: +27.4%
Total debt: +8.83%

Quarter to September 2026, against a year earlier

555.00 36.30 −6.14%

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Market cap: $254.5B
P/E: 21.7×
Fwd P/E: 23.2×
Dividend yield: 1.13%
F-score: 5/9
Altman Z: 4.32
Beneish M: −2.43
Dividend safety: 86/100

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Caterpillar Inc. (CAT) Price to free cash flow

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As of 5 November 2026, Caterpillar Inc. (CAT) trades at a price to free cash flow of 24.1×. Over the past ten years it has ranged from 8.0× (September 2015) to 56.6× (June 2026); the current reading is higher than 82% of that period. That is above the Farm & Heavy Construction Machinery industry median of 20.6× and above the Industrials sector median of 19.6×.

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<iframe src="https://stockrow.com/embed/CAT/price-to-free-cash-flow" width="100%" height="360" style="border:0" loading="lazy" title="Caterpillar Inc. price to free cash flow, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/CAT/metrics/price-to-free-cash-flow">Caterpillar Inc. (CAT) price to free cash flow — stockrow.com</a></p>

Period	Price to free cash flow	Change
FY2025	33.0×	78.31%
FY2024	18.5×	30.91%
FY2023	14.1×	(32.65%)
FY2022	21.0×	11.80%
FY2021	18.8×	(5.53%)
FY2020	19.9×	29.28%
FY2019	15.4×	(6.37%)
FY2018	16.4×	(19.92%)
FY2017	20.5×	34.74%
FY2016	15.2×	58.12%

Period	Price to free cash flow	Change
Sep 2026	35.3×	(29.69%)
Jun 2026	50.2×	32.19%
Mar 2026	37.9×	15.03%
Dec 2025	33.0×	22.25%
43 more quarters	Free account

Against its own ten years

Low 8.0× High 56.6×

Ten-year median 16.8×

Current reading's percentile 82

Company	Price to free cash flow
OSK Oshkosh Corporation compare	9.0×
BLBD Blue Bird Corporation compare	13.3×
TEX Terex Corporation compare	14.7×
PCAR PACCAR Inc. compare	17.8×
FSS Federal Signal Corporation compare	18.8×
DE Deere & Company compare	22.4×
CNH CNH Industrial N.V. compare	22.8×
CAT Caterpillar Inc.	24.1×
AGCO AGCO Corporation compare	26.0×
Farm & Heavy Construction Machinery industry median	20.6×
Industrials sector median	19.6×
Market median	14.1×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

Caterpillar Inc. (CAT) Price to free cash flow

Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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Price to free cash flow, daily

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Price to free cash flow against peers

What Price to free cash flow is

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