Last 47 quarters of trend data · Industrials · Agricultural - Machinery
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 38.81 | 34.26 | 32.38 | 27.97 | 24.39 | 21.01 | 19.63 | 15.69 | 19.32 | 15.20 | 15.93 | 14.00 | 12.52 | 10.85 | 15.30 | 21.47 | 10.60 | 14.28 | 19.48 | 13.22 | 18.46 |
| — | +63.1% | +64.9% | +78.3% | +26.2% | +38.2% | +23.2% | +12.1% | +54.3% | +40.1% | +4.2% | -34.8% | +18.1% | -24.0% | -21.5% | +62.4% | -42.6% | -32.8% | -6.9% | -58.8% | -39.6% | |
| P/S Ratio | 4.98 | 5.99 | 4.74 | 3.51 | 3.18 | 2.76 | 2.76 | 2.72 | 2.95 | 2.44 | 2.88 | 2.20 | 2.08 | 1.83 | 1.87 | 1.88 | 1.44 | 1.68 | 2.21 | 2.03 | 2.12 |
| — | +117.0% | +71.6% | +29.0% | +7.8% | +13.1% | -4.2% | +24.0% | +42.0% | +33.5% | +53.8% | +16.8% | +44.2% | +9.2% | -15.1% | -7.5% | -31.9% | -28.1% | -17.9% | -8.7% | +2.8% | |
| P/B Ratio | 16.08 | 25.40 | 17.69 | 12.60 | 10.87 | 9.81 | 8.71 | 9.06 | 9.81 | 9.52 | 10.32 | 7.69 | 6.82 | 6.94 | 6.54 | 7.85 | 5.54 | 6.06 | 7.02 | 6.79 | 6.30 |
| — | +158.9% | +103.1% | +39.2% | +10.8% | +3.1% | -15.6% | +17.8% | +43.8% | +37.1% | +57.7% | -2.1% | +23.1% | +14.6% | -6.8% | +15.6% | -12.0% | -14.9% | -8.8% | +4.4% | +15.8% | |
| P/FCF | 32.76 | 37.77 | 53.33 | 21.34 | 12.24 | 21.12 | 106.03 | 18.73 | 16.72 | 17.71 | 34.59 | 11.90 | 10.67 | 12.46 | 36.11 | 15.36 | 11.61 | 14.57 | — | 44.73 | 22.79 |
| — | +78.9% | -49.7% | +13.9% | -26.8% | +19.3% | +206.5% | +57.4% | +56.7% | +42.1% | -4.2% | -22.5% | -8.1% | -14.5% | — | -65.7% | -49.1% | -26.2% | — | +159.0% | +38.8% | |
| EV / EBITDA | 27.46 | 27.03 | 25.07 | 23.18 | 17.85 | 15.72 | 15.42 | 14.95 | 15.08 | 12.21 | 13.29 | 12.29 | 10.73 | 9.36 | 11.42 | 17.29 | 9.81 | 12.66 | 15.65 | 16.01 | 14.67 |
| — | +72.0% | +62.6% | +55.0% | +18.4% | +28.7% | +16.0% | +21.7% | +40.6% | +30.5% | +16.4% | -28.9% | +9.4% | -26.1% | -27.0% | +8.0% | -33.2% | -18.0% | -2.9% | +0.1% | -16.0% | |
| EV / EBIT | 33.00 | 28.28 | 27.58 | 21.55 | 18.57 | 18.66 | 17.91 | 15.53 | 17.27 | 13.47 | 14.62 | 13.39 | 11.70 | 10.39 | 13.49 | 17.46 | 10.94 | 14.34 | 17.91 | 13.16 | 17.53 |
| — | +51.6% | +54.0% | +38.8% | +7.6% | +38.5% | +22.4% | +15.9% | +47.6% | +29.7% | +8.4% | -23.3% | +6.9% | -27.6% | -24.7% | +32.7% | -37.6% | -22.2% | -0.9% | -55.9% | -36.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.3% | 37.8% | 35.1% | 28.6% | 33.8% | 33.0% | 34.8% | 34.3% | 35.4% | 37.3% | 37.0% | 33.8% | 35.4% | 34.7% | 34.9% | 28.9% | 31.0% | 29.1% | 28.9% | 26.8% | 29.6% |
| — | +14.6% | +0.8% | -16.5% | -4.5% | -11.6% | -5.9% | +1.4% | +0.1% | +7.5% | +5.8% | +16.9% | +14.3% | +19.0% | +21.0% | +8.0% | +4.6% | -3.5% | -8.5% | -9.5% | +3.5% | |
| Operating Margin | 16.6% | 20.9% | 17.7% | 13.9% | 17.3% | 17.6% | 18.1% | 18.0% | 19.5% | 20.9% | 22.3% | 18.4% | 20.5% | 21.1% | 17.2% | 10.1% | 16.2% | 13.6% | 13.7% | 11.7% | 13.4% |
| — | +18.7% | -2.1% | -22.9% | -11.4% | -15.6% | -18.7% | -1.8% | -4.8% | -1.1% | +29.4% | +81.4% | +26.9% | +54.5% | +26.1% | -13.3% | +20.5% | -1.7% | -10.5% | -4.9% | +34.6% | |
| Net Margin | 13.1% | 17.5% | 14.6% | 12.5% | 13.0% | 13.2% | 14.1% | 17.2% | 15.3% | 16.1% | 18.1% | 15.7% | 16.6% | 16.9% | 12.2% | 8.8% | 13.6% | 11.7% | 11.3% | 15.4% | 11.5% |
| — | +33.0% | +4.1% | -27.1% | -15.1% | -18.1% | -22.2% | +9.8% | -8.0% | -4.8% | +47.6% | +78.9% | +22.1% | +43.7% | +8.3% | -43.0% | +18.3% | +7.1% | -12.1% | +121.3% | +70.1% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 43.5% | 18.9% | 12.8% | 11.4% | 11.6% | 11.9% | 10.7% | 14.4% | 13.5% | 15.4% | 15.4% | 13.4% | 14.4% | 16.0% | 11.4% | 9.2% | 13.0% | 10.2% | 9.1% | 12.8% | 8.5% |
| — | +59.2% | +19.6% | -20.3% | -13.6% | -23.0% | -30.6% | +7.3% | -6.4% | -3.9% | +34.8% | +45.0% | +10.8% | +57.5% | +24.8% | -27.7% | +53.1% | +20.7% | -4.4% | +148.6% | +82.9% | |
| ROA | 9.5% | 3.6% | 2.6% | 2.5% | 2.5% | 2.5% | 2.3% | 3.2% | 2.9% | 3.2% | 3.3% | 3.1% | 3.2% | 3.5% | 2.3% | 1.8% | 2.5% | 2.0% | 1.9% | 2.6% | 1.8% |
| — | +45.9% | +13.2% | -22.1% | -14.4% | -22.5% | -30.5% | +4.4% | -10.5% | -7.1% | +42.2% | +72.0% | +28.8% | +68.8% | +26.0% | -31.1% | +43.5% | +17.7% | -3.2% | +157.7% | +101.4% | |
| ROIC | 15.9% | 5.6% | 4.1% | 3.6% | 4.2% | 4.1% | 3.7% | 4.3% | 4.6% | 5.2% | 5.2% | 4.6% | 5.2% | 5.6% | 4.3% | 2.7% | 3.9% | 3.1% | 3.0% | 2.7% | 2.9% |
| — | +36.4% | +10.9% | -14.6% | -9.1% | -21.2% | -28.9% | -7.8% | -10.6% | -8.1% | +20.4% | +68.5% | +32.0% | +83.7% | +45.5% | +1.3% | +37.7% | -0.5% | -5.0% | +14.0% | +68.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.03 | 2.33 | 2.31 | 2.03 | 2.01 | 2.18 | 2.14 | 1.97 | 1.95 | 2.18 | 2.15 | 1.94 | 1.81 | 2.07 | 2.04 | 2.33 | 2.34 | 2.35 | 2.20 | 2.29 | 2.20 |
| — | +6.6% | +8.1% | +3.2% | +2.9% | +0.3% | -0.5% | +1.4% | +7.9% | +5.4% | +5.2% | -16.6% | -22.5% | -12.0% | -7.3% | +1.7% | +6.1% | +5.3% | -4.3% | -5.3% | -13.3% | |
| Debt / EBITDA | 3.22 | 9.19 | 11.70 | 13.30 | 11.47 | 11.73 | 12.37 | 11.04 | 10.27 | 9.30 | 9.36 | 10.30 | 9.35 | 8.99 | 11.35 | 16.53 | 12.27 | 14.80 | 15.58 | 17.20 | 16.30 |
| — | -21.6% | -5.4% | +20.5% | +11.6% | +26.2% | +32.1% | +7.2% | +9.9% | +3.4% | -17.5% | -37.7% | -23.9% | -39.3% | -27.2% | -3.9% | -24.7% | -6.4% | -2.1% | -7.6% | -32.5% | |
| Current Ratio | 1.44 | 1.37 | 1.35 | 1.44 | 1.38 | 1.34 | 1.32 | 1.42 | 1.40 | 1.28 | 1.35 | 1.35 | 1.45 | 1.33 | 1.43 | 1.39 | 1.41 | 1.45 | 1.44 | 1.46 | 1.61 |
| — | +2.2% | +2.5% | +1.4% | -0.8% | +4.2% | -2.2% | +4.7% | -3.7% | -3.5% | -5.9% | -2.6% | +2.8% | -8.2% | -0.5% | -4.6% | -12.6% | -7.2% | -10.0% | -5.1% | +4.5% | |
| Quick Ratio | 0.94 | 0.85 | 0.81 | 0.94 | 0.86 | 0.81 | 0.77 | 0.89 | 0.86 | 0.78 | 0.83 | 0.87 | 0.92 | 0.83 | 0.88 | 0.87 | 0.85 | 0.90 | 0.93 | 0.99 | 1.09 |
| — | +5.5% | +4.4% | +5.1% | -0.0% | +4.0% | -6.5% | +2.2% | -6.6% | -6.4% | -6.3% | +0.3% | +7.9% | -8.1% | -5.6% | -11.5% | -21.6% | -18.1% | -18.6% | -9.7% | +0.2% | |
| Interest Coverage | 12.23 | 34.76 | 24.96 | 7.33 | 10.06 | 27.34 | 27.13 | 31.31 | 34.66 | 32.19 | 30.12 | 26.79 | 33.43 | 35.32 | 24.03 | 18.94 | 24.47 | 20.41 | 19.34 | 24.09 | 16.57 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying CAT stock.
Caterpillar Inc.'s current P/E is 38.8x. The average P/E over the last 4 quarters is 29.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Caterpillar Inc.'s current operating margin is 16.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Caterpillar Inc.'s business trajectory between earnings reports.