Caterpillar Inc. (CAT) P/E Ratio History
Historical price-to-earnings valuation from 1990 to 2026
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CAT Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Caterpillar Inc. (CAT) trades at a price-to-earnings ratio of 48.0x, with a stock price of $904.59 and trailing twelve-month earnings per share of $20.22.
The current P/E is 150% above its 5-year average of 19.2x. Over the past five years, CAT's P/E has ranged from a low of 11.9x to a high of 35.2x, placing the current valuation at the 100th percentile of its historical range.
Compared to the Industrials sector median P/E of 25.7x, CAT trades at a 87% premium to its sector peers. The sector includes 416 companies with P/E ratios ranging from 0.0x to 183.1x.
The PEG ratio of 1.71 (P/E divided by -15% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, CAT commands a significant premium over the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our CAT DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
CAT P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $156B | 31.1 | 1.91 | +0% | |
| $13B | 25.2 | - | -59% | |
| $8B | 11.7 | 1.02 | +271%Best | |
| $60B | 25.1 | 1.99 | -43% | |
| $93B | 32.9 | 2.92 | -28% | |
| $38B | 35.9 | 2.74 | +19% | |
| $37B | 32.2 | 3.14 | -42% | |
| $4B | 18.3 | 0.20Best | -33% | |
| $371M | 9.1Lowest | - | +142% | |
| $10B | 15.3 | 3.19 | -3% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
CAT Historical P/E Data (1990–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | $708.35 | $20.10 | 35.2x | +36% | |
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $572.87 | $18.83 | 30.4x | +17% |
| FY2025 Q3 | $477.15 | $19.49 | 24.5x | -5% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $388.21 | $19.66 | 19.7x | -24% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $329.80 | $20.52 | 16.1x | -38% |
| FY2024 Q4 | $362.76 | $22.07 | 16.4x | -37% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $391.12 | $21.57 | 18.1x | -30% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $333.10 | $21.96 | 15.2x | -41% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $366.43 | $22.15 | 16.5x | -36% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $295.67 | $20.14 | 14.7x | -43% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $273.00 | $17.65 | 15.5x | -40% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $246.05 | $16.07 | 15.3x | -41% |
Average P/E for displayed period: 25.9x
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Start ComparisonCAT — Frequently Asked Questions
Quick answers to the most common questions about buying CAT stock.
Is CAT stock overvalued or undervalued?
CAT trades at 48.0x P/E, above its 5-year average of 19.2x. The 100th percentile ranking indicates a premium to historical valuation.
How does CAT's valuation compare to peers?
Caterpillar Inc. P/E of 48.0x compares to sector median of 25.7x. The premium reflects expected growth above peers.
What is CAT's PEG ratio?
CAT PEG ratio is 1.71. Between 1-2 suggests valuation aligns with growth. Historical P/E data spans 1990-2026.