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Caterpillar CAT EV / EBITDA

EV / EBITDA at other companies

Cummins logo
CumminsCMI
16.1×+6.5×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
4.1×-1.0×
Deere & Company logo
Deere & CompanyDE
17.2×+2.2×
Wabtec logo
WabtecWAB
20.8×+4.9×
United Rentals logo
United RentalsURI
14×+1.4×
Quanta Services logo
Quanta ServicesPWR
32.9×+13.9×

Other financials

Income statement

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Revenue$17.4B+22.2%
Gross profit$6.1B+15.6%
Operating income$3.1B+19.6%
Net income$2.5B+27.2%
EPS (diluted)$5.47+30.2%

Balance sheet

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Cash & equivalents$4.1B+14.3%
Total assets$95.6B+12.5%

Cash flow

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Operating cash flow$1.9B+45.1%
CapEx$728.0M+2.5%
Free cash flow$1.1B+97.2%

Valuation

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Market cap$440.29B+109%
P/E46.7×+25.5×
P/S6.2×+2.9×

Profitability

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Gross margin96.6%-4.4pp
Operating margin16.5%-2.7pp
Net margin13.3%-2.4pp

Returns & leverage

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Return on equity43.5%-11.8pp
Debt / equity1.7×+0.1×
Current ratio1.4×0.0×

Where this comes from

Calculated from Caterpillar’s reported figures.

Based on the most recent quarter.

The official record: Caterpillar’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Caterpillar's EV / EBITDA?
Caterpillar (CAT) reported EV / EBITDA of 22× in Q4 2025.
How has Caterpillar's EV / EBITDA changed year-over-year?
Caterpillar's EV / EBITDA increased by 67.0% year-over-year, from 13.2× to 22×.
What does EV / EBITDA mean?
What the whole business (debt included) costs relative to its operating cash earnings.
How do you interpret EV / EBITDA?
Lets you compare companies with different leverage and tax positions on a like-for-like basis — the standard multiple in M&A. Lower can mean cheaper, subject to growth and capital intensity.
How does EV / EBITDA compare across companies?
Broadly comparable across non-financial sectors; not used for banks and insurers, where EBITDA is not meaningful.