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CAT (Caterpillar) Shiller PE Ratio : 37.91 (As of Jul. 24, 2025)


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What is Caterpillar Shiller PE Ratio?

As of today (2025-07-24), Caterpillar's current share price is $427.59. Caterpillar's E10 for the quarter that ended in Mar. 2025 was $11.28. Caterpillar's Shiller PE Ratio for today is 37.91.

The historical rank and industry rank for Caterpillar's Shiller PE Ratio or its related term are showing as below:

CAT' s Shiller PE Ratio Range Over the Past 10 Years
Min: 10.56   Med: 26.8   Max: 39.49
Current: 37.92

During the past years, Caterpillar's highest Shiller PE Ratio was 39.49. The lowest was 10.56. And the median was 26.80.

CAT's Shiller PE Ratio is ranked worse than
76.3% of 135 companies
in the Farm & Heavy Construction Machinery industry
Industry Median: 20.51 vs CAT: 37.92

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Caterpillar's adjusted earnings per share data for the three months ended in Mar. 2025 was $4.200. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $11.28 for the trailing ten years ended in Mar. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Caterpillar Shiller PE Ratio Historical Data

The historical data trend for Caterpillar's Shiller PE Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Caterpillar Shiller PE Ratio Chart

Caterpillar Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Shiller PE Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 28.55 29.04 30.88 31.85 33.02

Caterpillar Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Shiller PE Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 37.25 32.54 37.03 33.02 29.25

Competitive Comparison of Caterpillar's Shiller PE Ratio

For the Farm & Heavy Construction Machinery subindustry, Caterpillar's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Caterpillar's Shiller PE Ratio Distribution in the Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, Caterpillar's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Caterpillar's Shiller PE Ratio falls into.


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Caterpillar Shiller PE Ratio Calculation

For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Caterpillar's Shiller PE Ratio for today is calculated as

Shiller PE Ratio=Share Price/ E10
=427.59/11.28
=37.91

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Caterpillar's E10 for the quarter that ended in Mar. 2025 is calculated as:

For example, Caterpillar's adjusted earnings per share data for the three months ended in Mar. 2025 was:

Adj_EPS=Earnings per Share (Diluted)/CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=4.2/134.9266*134.9266
=4.200

Current CPI (Mar. 2025) = 134.9266.

Caterpillar Quarterly Data

Earnings per Share (Diluted) CPI Adj_EPS
201506 1.310 100.684 1.756
201509 0.940 100.392 1.263
201512 -0.150 99.792 -0.203
201603 0.460 100.470 0.618
201606 0.930 101.688 1.234
201609 0.480 101.861 0.636
201612 -2.000 101.863 -2.649
201703 0.320 102.862 0.420
201706 1.350 103.349 1.762
201709 1.770 104.136 2.293
201712 -2.180 104.011 -2.828
201803 2.740 105.290 3.511
201806 2.820 106.317 3.579
201809 2.880 106.507 3.648
201812 1.780 105.998 2.266
201903 3.250 107.251 4.089
201906 2.830 108.070 3.533
201909 2.660 108.329 3.313
201912 1.970 108.420 2.452
202003 1.980 108.902 2.453
202006 0.840 108.767 1.042
202009 1.220 109.815 1.499
202012 1.420 109.897 1.743
202103 2.770 111.754 3.344
202106 2.560 114.631 3.013
202109 2.600 115.734 3.031
202112 3.910 117.630 4.485
202203 2.860 121.301 3.181
202206 3.130 125.017 3.378
202209 3.870 125.227 4.170
202212 2.790 125.222 3.006
202303 3.740 127.348 3.963
202306 5.670 128.729 5.943
202309 5.450 129.860 5.663
202312 5.280 129.419 5.505
202403 5.750 131.776 5.887
202406 5.480 132.554 5.578
202409 5.060 133.029 5.132
202412 5.780 133.157 5.857
202503 4.200 134.927 4.200

Add all the adjusted EPS together and divide 10 will get our E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Caterpillar  (NYSE:CAT) Shiller PE Ratio Explanation

Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.

Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.


Be Aware

Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.


Caterpillar Shiller PE Ratio Related Terms

Thank you for viewing the detailed overview of Caterpillar's Shiller PE Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


Caterpillar Business Description

Address
5205 N. O\'Connor Boulevard, Suite 100, Irving, TX, USA, 75039
Caterpillar is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Its reporting segments are: construction industries (40% sales/47% operating profit, or OP), resource industries (20% sales/19% OP), and energy & transportation (40% sales/34% OP). Market share approaches 20% across many products. Caterpillar operates a captive finance subsidiary to facilitate sales. The firm has global reach (46% US sales/54% ex-US). Construction skews more domestic, while the other divisions are more geographically diversified. An independent network of 156 dealers operates approximately 2,800 facilities, giving Caterpillar reach into about 190 countries for sales and support services.
Executives
David Maclennan director 14701 CHARLSON ROAD, EDEN PRAIRIE MN 55347
Gerald Johnson director 300 RENAISSANCE CENTER, M/C: 482-C23-A68, DETROIT MI 48265
Bonfield Andrew R J officer: Chief Financial Officer C/O BRISTOL MYERS SQUIBB CO, 345 PARK AVE, NEW YORK NY 10164
Anthony D. Fassino officer: Group President 510 LAKE COOK ROAD, SUITE 100, DEERFIELD IL 60015
Susan C Schwab director 2101 VAN MUNCHING HALL, COLLEGE PARK MD 20742
Lange Bob De officer: Group President 510 LAKE COOK ROAD, SUITE 100, DEERFIELD IL 60015
Daniel M Dickinson director THAYER CAPITAL PARTNERS, 1455 PENNSYLVANIA AVENUE NW, STE 350, WASHINGTON DC 20004
Cheryl H Johnson officer: Chief Human Resources Officer 40 WESTMINSTER STREET, PROVIDENCE RI 02903
William E Schaupp officer: Chief Accounting Officer PPG INDUSTRIES, INC., ONE PPG PLACE, PITTSBURGH PA 15272
Joseph E Creed officer: Interim CFO 510 LAKE COOK ROAD, SUITE 100, DEERFIELD IL 60015
Denise C Johnson officer: Group President C/O CATERPILLAR, INCORPORATED, 901 WEST WASHINGTON, CV41110, EAST PEORIA IL 61630
Fish James C Jr director 800 CAPITOL STREET 3000, HOUSTON TX 77002
Judith Fran Marks director C/O HUBBELL INCORPORATED, 40 WATERVIEW DRIVE, SHELTON CT 06484
Suzette M Long officer: Int. Executive Vice President 510 LAKE COOK ROAD, SUITE 100, DEERFILED IL 60015
Gary Michael Marvel officer: Chief Accounting Officer 510 LAKE COOK ROAD, SUITE 100, DEERFIELD IL 60015