Caterpillar Inc
—- Market cap
- —
- Debt
- —
- Cash
- −$9.98B
Complete market value, debt and cash evidence is required for enterprise value.
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt capMarket cap $99.67B · View financials
Decision snapshot: CAT stock price at premium vs ADBE $822.04 current versus $282.41 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at ADBE's multiple
Implied fair value · at CAT's multiple
Snapshot Sep 11, 2026, 12:31 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Reported gross margin
Operating income + D&A
Lower is better
Higher P/E
Lower leverage
Statements
Annual statements in reported currencies, with calculations and source evidence.
Values retain reported currencies and share bases. Select a figure to inspect its period, calculation and filing inputs. Differences require compatible units and periods.
Explore enterprise value and market valuation multiples in the valuation sections.
Trendline
Eight period-end years of reported revenue, earnings, and margins. Periods and currencies are shown with the data.
Price framework
USD market cap plus reported borrowing debt, less cash and equivalents. This EV proxy excludes investments, preferred stock and noncontrolling-interest adjustments.
Complete market value, debt and cash evidence is required for enterprise value.
Capital structure 94% equity / 6% debt · EV / Revenue 4.23x · EV proxy / EBITDA proxy 10.55x
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
CATERPILLAR INC · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
ADOBE INC. · implied price per share
Bear
$313.20
Base
$377.85
Bull
$467.00
Balance sheet health
Inspect reported liquidity and leverage alongside historical financial-health checks.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
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CAT vs CNHI
MICROSOFT CORP
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CAT vs CRM
ORACLE CORP
CAT vs ORCL
INTERNATIONAL BUSINESS MACHINES CORP
CAT vs IBM
TYLER TECHNOLOGIES INC
CAT vs TYL
Autodesk, Inc.
CAT vs ADSK
Cash excludes investments. EBITDA is an operating-income-plus-D&A proxy. Missing borrowing categories remain unavailable; select a value to inspect its inputs.
LLM-powered synthesis
An explanation of the financial evidence. Check its snapshot date against the figures above.
This explanation uses an earlier data snapshot or evidence version. Review its generation date and the current figures, or refresh after signing in.
If you believe CAT can sustain a materially higher earnings multiple than ADBE despite weaker margins, slower growth, and higher leverage, then you should only own it with caution; otherwise, the data argue for avoiding or underweighting CAT because the market price is far above both the DCF range and ADBE-implied value.
CAT’s current price of $963.53 implies a P/E-based value of $247.48, or -74.3% downside, versus ADBE comparison and DCF ranges. The gap is driven by CAT trading at materially richer multiples than ADBE despite lower margins, slower growth, and lower ROIC.
Supporting Metrics