Why did Caterpillar (CAT) stock move recently?

On 9/15/2026, Caterpillar moved -4.2% — Caterpillar dropped roughly 4% with no company announcement behind it. Coverage attributed the move to an unwind in the data center power trade: Caterpillar's power generation segment sells engines and turbines into data center construction, so it sold off with AI infrastructure names after the AI-slowdown comments. This is MarketChacha's decoded reason from filings and credible news; it is education, not buy/sell advice.

Is Caterpillar (CAT) overvalued or fairly valued?

MarketChacha shows Caterpillar's valuation in context — a trailing P/E of about 31.9, a forward P/E of about 22.3, a price-to-book of about 17.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Caterpillar's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.22×) from reported figures — education, not a rating.

What is Caterpillar's revenue?

Caterpillar reported revenue of $67.6B for FY2025, with net profit of $8.9B, per official filings.

What is the share price of Caterpillar (CAT)?

Caterpillar last traded at $725.79 (-0.7% on the day), as of 10/19/2026 — a delayed quote shown for education, not investment advice.

Caterpillar

CAT · NYSE · Industrials · United States

Snapshot

TickerCAT

ExchangeNYSE

SectorIndustrials

IndustryFarm & Heavy Construction Machinery

CountryUnited States

Employees118,000

HeadquartersIrving, United States

Websitewww.caterpillar.com

Filings tracked18

About Caterpillar

Caterpillar Inc. provides construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. The Construction Industries segment offers asphalt pavers, cold planers, compactors, forestry machines, material handlers, motor graders, pipelayers, road reclaimers, telehandlers, track-type tractors, and track and wheel excavators; backhoe, compact track, skid steer, track-type, and wheel loaders; and related parts and work tools. Its Resource Industries segment provides electric rope and hydraulic shovels, draglines, rotary drills, hard rock vehicles, mining trucks, wheel loaders, off-highway and articulated trucks, wide-body trucks, wheel tractor scrapers and dozers, and landfill and soil compactors; machinery components, and wear and maintenance components; and technology products and services for fleet management, equipment management analytics, autonomous machine capabilities, safety services, and mining performance solutions. The Energy & Transportation segment offers reciprocating engine powered generator sets; reciprocating engines, drivetrain, and integrated systems and solutions; centrifugal gas compressors and related services; and diesel-electric locomotive components, and other rail-related products. Its Financial Products segment provides operating and finance leases, revolving charge accounts, installment sale contracts, repair/rebuild financing, working capital loans, and wholesale financing; and insurance and risk management products and services. The All Other segment offers parts distribution; logistics and distribution services; electronics and control systems; dealer portfolio management; brand management and marketing strategy; and digital investment services. It also provides mining software solutions. The company was formerly known as Caterpillar Tractor Co. Caterpillar Inc. was incorporated in 1925 and is headquartered in Irving, Texas.

Who owns it

Insiders0.2%
Institutions73.5%
Public & other26.3%

4,880 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.8.26%
State Street Corporation7.48%
Vanguard Capital Management LLC6.54%
State Farm Mutual Automobile Insurance Co3.16%
Vanguard Portfolio Management LLC2.62%
Geode Capital Management, LLC2.43%
Fisher Asset Management, LLC2.16%
Morgan Stanley1.63%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 2.3 points over the period — profitability is trending down.

Cash conversion1.22×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend15.4% → 13.1%

Margin has compressed by about 2.3 points over the period — profitability is trending down.

Return on equity41.7%

Latest ROE of 41.7% — capital is generating a healthy return.

Growth qualityrev 0% · PAT -7%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $21.4B · EPS 6.99

Est. earnings growth +35.4%

Next fiscal year

Rev $88.7B · EPS 32.59

Est. earnings growth +19.2%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$67.6B

Net margin

13.1%

ROE

41.7%

Revenue CAGR (2y)

+0.4%

Profit CAGR (2y)

-7.3%

EPS (FY2025)

18.81

Net profit (FY2025)

$8.9B

Ask MarketChacha about CAT

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Why it moved

Sep 15, 2026
Caterpillar dropped roughly 4% with no company announcement behind it. Coverage attributed the move to an unwind in the data center power trade: Caterpillar's power generation segment sells engines and turbines into data center construction, so it sold off with AI infrastructure names after the AI-slowdown comments.
source 1 ↗source 2 ↗· confidence: medium
Aug 20, 2026
Caterpillar was the weakest Dow component, giving back part of its post-earnings rally. Coverage attributed the fall to profit-taking after that run and to uncertainty around AI data-centre power-generation demand, with no company announcement on the day.
source 1 ↗· confidence: medium
Aug 4, 2026
Caterpillar reported Q2 2026 results with sales and revenues rising 24% to a record $20.5 billion and adjusted EPS of $8.17, well above consensus estimates of ~$6.25 EPS and ~$19.3 billion revenue, driving the gain.
source 1 ↗source 2 ↗· confidence: high
Jul 28, 2026
Caterpillar shares declined as an analyst downgrade pressured the stock ahead of upcoming earnings, with additional commentary noting the shares look slightly above fair value.
source 1 ↗source 2 ↗· confidence: medium

Daily moves with the verified reason behind them. Education only — not investment advice.

On MarketChacha

Posts about CAT

Why did Caterpillar (CAT) pop ~10% today? A record $20.5B quarter, decodedc/usmarkets · 8/4/2026▲ 0

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$67.6B	$8.9B	18.81	13.1%	41.7%
FY2024	$64.8B	$10.8B	22.05	16.6%	55.3%
FY2023	$67.1B	$10.3B	20.12	15.4%	53.0%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$20.5B	$3.6B	7.77	17.5%
2026Q1	$17.4B	$2.5B	5.47	14.6%
2025Q3	$17.6B	$2.3B	4.88	13.0%
2025Q2	$16.6B	$2.2B	4.62	13.2%
2025Q1	$14.2B	$2.0B	4.20	14.1%
2024Q3	$16.1B	$2.5B	5.06	15.3%
2024Q2	$16.7B	$2.7B	5.48	16.1%
2024Q1	$15.8B	$2.9B	5.75	18.1%
2023Q3	$16.8B	$2.8B	5.45	16.6%
2023Q2	$17.3B	$2.9B	5.67	16.9%
2023Q1	$15.9B	$1.9B	3.74	12.2%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Material agreement, Material financial obligation, Exhibits
SEC9/1/2026material
10-Q filing
SEC8/5/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC8/4/2026material
8-K — Shareholder vote results, Reg FD disclosure, Exhibits
SEC6/11/2026material
10-Q filing
SEC5/6/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC4/30/2026material
8-K — Other events, Exhibits
SEC4/13/2026material
8-K — Executive/director change, Exhibits
SEC4/10/2026material
8-K — Other events
SEC3/26/2026material
10-K filing
SEC2/13/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC1/29/2026material
8-K — Executive/director change, Bylaw/charter change, Exhibits
SEC1/6/2026material

2025

10-Q filing
SEC11/3/2025
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC10/29/2025material
8-K — Material agreement, Material financial obligation, Exhibits
SEC9/3/2025material
8-K — Other events, Exhibits
SEC8/28/2025material
10-Q filing
SEC8/6/2025
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC8/5/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.