Caterpillar Inc. Financial Ratios — CAT Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	18	17.88	10.73	6.5	6.85	-0.2	2.34	18.04	15.9	7.33	14.9	14	19.19	17.41	12.79
Return on Assets (%)	6.79	6.68	4.36	2.89	3.08	-0.09	0.99	7.91	7.76	3.82	8.06	8.14	12.2	12.32	9.53
Return on Capital (%)	8.77	8.62	5.55	3.69	3.81	-0.38	1.24	9.25	8.51	4.31	8.48	8.26	11.76	11.19	8.4
Return on Invested Capital (%)	12.27	12.05	7.19	4.51	5.09	-1.3	1.65	13.08	12.51	6.5	10.14	12.58	18.51	18.22	13.83
Gross Margin (%)	26.16	27.36	25.52	25.08	27.39	25.68	29.82	31.07	30.51	28.93	29.43	29.47	34.69	35.99	31.78
EBITDA Margin (%)	16.1	18.16	15.66	11.74	14.53	12.43	16.14	20.21	20.2	16.73	18.11	18.59	22.53	23.49	19.84
Operating Margin (%)	11.89	13.89	10.11	6.01	8.05	4.56	9.81	15.15	15.41	10.91	13.49	14.86	19.33	20.17	16.5
Incremental Operating Margin (%)	18.18	34.86	34.49	490.25	-5.76	23.93	39.03	41.39	0.33	31.01	25.21	23.07	54.2	-4.71	-69.1
Pretax Margin (%)	11.18	12.5	9.21	5.71	7.32	0.36	8.98	14.29	14.52	9.57	16.1	14.73	19.46	20.63	17.08
Profit Margin (%)	8.19	8.62	6.81	4.44	5.34	-0.17	1.66	11.23	11.33	7.18	12.73	11.28	15.41	16.65	13.14
Net Income to Common Margin (%)	8.19	8.62	6.81	4.44	5.34	-0.17	1.66	11.23	11.33	7.18	12.73	11.28	15.41	16.65	13.14
Effective Tax Rate (%)	25.58	30.69	25.72	21.95	26.64	138.13	81.8	21.71	22.35	25.18	21.23	23.62	21.31	19.66	23.98
Dvd Payout Ratio (%)	23.02	28.06	29.11	65.22	69.34	-3,527.45	239.66	31.73	34.98	74.57	35.89	36.4	24.81	24.54	30.96
Sustainable Growth Rate (%)	13.85	12.87	7.61	2.26	2.1	-7.24	-3.26	12.32	10.34	1.86	9.55	8.91	14.43	13.14	8.83

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	34,592	40,143	37,750	39,285	38,013	36,783	34,878	36,553	37,657	37,163	37,789	36,993	37,878	38,409	43,330
ST Debt	9,648	12,391	11,031	11,501	12,844	13,965	11,031	11,553	11,376	11,164	11,756	11,279	13,406	11,058	12,634
LT Debt	24,944	27,752	26,719	27,784	25,169	22,818	23,847	25,000	26,281	25,999	26,033	25,714	24,472	27,351	30,696
Total Debt/EBITDA	3.57	3.35	4.33	6.07	5.56	7.68	4.75	3.31	3.47	5.32	4.09	3.35	2.51	2.52	3.23
Net Debt/EBITDA	3.25	3.35	4.32	6.05	5.55	7.66	4.69	3.26	3.45	3.97	3.08	2.72	2.05	2.08	2.49
Total Debt/EBIT	4.84	4.39	6.71	11.85	10.04	20.94	7.82	4.41	4.54	8.16	5.49	4.19	2.92	2.94	3.89
Net Debt/EBIT	4.4	4.38	6.69	11.83	10.02	20.9	7.72	4.35	4.53	6.09	4.14	3.41	2.39	2.42	2.99
EBITDA to Interest Expense	24.44	25.62	18.74	13.38	13.47	9.49	13.82	27.37	25.81	13.59	18.91	24.94	29.57	29.74	26.72
EBITDA-CapEx/Interest Expense	20.89	21.93	14.6	9.58	9.78	5.89	11.11	23.31	21.98	11.38	18.91	24.94	29.57	29.74	26.72
EBIT to Interest Expense	18.06	19.6	12.1	6.85	7.47	3.48	8.4	20.53	19.69	8.86	14.09	19.93	25.37	25.53	22.21
Interest Expense	396	467	465	484	507	505	531	404	421	514	488	443	511	512	502
Common Equity/Total Assets	36.31	38.26	43.07	45.94	44.02	43.71	41.44	46.18	51.46	52.85	55.17	61.11	65.91	75.54	73.67
Long-Term Debt/Equity (%)	192.93	157.84	127.98	165.13	169.09	172.69	173.23	177.56	179.65	169.07	157.62	161.81	125.48	140.3	143.99
Long-Term Debt/Capital (%)	38.9	37.39	35.92	35.5	34.68	32.83	35.68	34.32	33.66	33.07	31.18	29.53	25.61	26.12	26.47
Long-Term Debt/Total Assets (%)	30.71	31.19	31.47	32.81	32.13	30.54	30.99	31.84	33.5	33.19	31.44	31.38	27.98	31.16	31.14
Total Debt/Equity (%)	267.55	228.32	180.81	233.48	255.38	278.38	253.36	259.61	257.41	241.66	228.8	232.79	194.22	197.03	203.26
Total Debt/Capital (%)	53.94	54.08	50.75	50.19	52.38	52.92	52.18	50.18	48.23	47.28	45.26	42.48	39.65	36.68	37.37
Total Debt/Total Assets (%)	42.59	45.12	44.47	46.39	48.52	49.24	45.32	46.56	48	47.45	45.64	45.14	43.3	43.76	43.95
Net Debt to Equity	243.55	227.9	180.35	232.97	254.86	277.87	250.19	256.08	256.54	180.18	172.29	189.42	158.75	162.22	156.41
Net Debt/Capital (%)	51.56	53.98	50.62	50.08	52.27	52.82	51.53	49.49	48.07	40.01	38.33	37.59	34.96	32.33	31.46
EBITDA	9,680	11,966	8,715	6,477	6,831	4,791	7,337	11,059	10,867	6,985	9,230	11,048	15,110	15,225	13,413
EBITDA-CapEx	8,271	10,240	6,791	4,637	4,958	2,972	5,899	9,419	9,254	5,848	9,230	11,048	15,110	15,225	13,413
Operating Income (Loss)	7,153	9,153	5,628	3,314	3,785	1,757	4,460	8,293	8,290	4,553	6,878	8,829	12,966	13,072	11,151

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.11	- -	- -	- -	- -	- -	- -	- -	- -	0.36	0.31	0.22	0.2	0.21	0.27
Current Ratio	1.34	1.43	1.4	1.39	1.28	1.22	1.35	1.37	1.47	1.53	1.46	1.39	1.35	1.42	1.44
Quick Ratio	0.73	0.63	0.63	0.6	0.6	0.55	0.6	0.62	0.67	1.02	0.89	0.79	0.74	0.8	0.86
CFO/Avg Current Liab	0.28	0.18	0.36	0.29	0.25	0.22	0.22	0.24	0.25	0.24	0.26	0.25	0.39	0.36	0.34
Common Equity/Total Assets	36.31	38.26	43.07	45.94	44.02	43.71	41.44	46.18	51.46	52.85	55.17	61.11	65.91	75.54	73.67
Long-Term Debt/Equity (%)	192.93	157.84	127.98	165.13	169.09	172.69	173.23	177.56	179.65	169.07	157.62	161.81	125.48	140.3	143.99
Long-Term Debt/Capital (%)	38.9	37.39	35.92	35.5	34.68	32.83	35.68	34.32	33.66	33.07	31.18	29.53	25.61	26.12	26.47
Long-Term Debt/Total Assets (%)	30.71	31.19	31.47	32.81	32.13	30.54	30.99	31.84	33.5	33.19	31.44	31.38	27.98	31.16	31.14
Total Debt/Equity (%)	267.55	228.32	180.81	233.48	255.38	278.38	253.36	259.61	257.41	241.66	228.8	232.79	194.22	197.03	203.26
Total Debt/Capital (%)	53.94	54.08	50.75	50.19	52.38	52.92	52.18	50.18	48.23	47.28	45.26	42.48	39.65	36.68	37.37
Total Debt/Total Assets (%)	42.59	45.12	44.47	46.39	48.52	49.24	45.32	46.56	48	47.45	45.64	45.14	43.3	43.76	43.95
CFO/Total Liabilities	10.19	7.26	15.92	11.87	10.56	9.17	9.03	10.18	10.83	10.05	10.86	11.76	18.96	17.63	15.19
CFO/CapEx	4.94	3	5.3	4.38	3.58	3.1	3.97	4	4.29	5.56	- -	- -	- -	- -	- -
Altman's Z-Score	2.38	2.45	2.33	2.19	1.97	1.88	2.46	2.65	2.82	2.68	2.94	3.31	3.74	4.07	4.4

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	3.48	3.63	3.11	3.25	2.9	2.55	2.96	3.25	3.04	2.41	2.98	3.37	3.66	3.44	3.34
Days Sales Outstanding	104.75	100.54	117.2	112.24	125.97	142.97	123.22	112.21	119.93	151.62	122.29	108.23	99.85	106.07	109.13
Inventory Turnover	3.68	3.18	2.94	3.33	3.12	3.13	3.42	3.5	3.28	2.62	2.83	2.77	2.67	2.48	2.64
Days Inventory Outstanding	99.18	114.76	124.03	109.61	117.12	116.7	106.57	104.25	111.28	139.43	129.08	131.96	136.82	146.9	138.37
Accounts Payable Turnover	7.04	6.55	5.79	6.26	5.48	5.72	6	5.8	5.71	4.93	5.41	5.24	5.31	5.36	5.7
Accounts Payable Turnover Days	51.82	55.71	63.05	58.31	66.58	63.83	60.82	62.98	63.95	73.99	67.52	69.63	68.69	68.11	64.05
Cash Conversion Cycle	152.1	159.59	178.17	163.54	176.52	195.84	168.98	153.48	167.26	217.05	183.85	170.57	167.98	184.85	183.45
Inventory to Cash Days	5.57	-14.22	-6.83	2.63	8.85	26.27	16.65	7.95	8.65	12.19	-6.79	-23.73	-36.97	-40.83	-29.25
Inventories	14,544	15,547	12,625	12,205	9,700	8,614	10,018	11,529	11,266	11,402	14,038	16,270	16,565	16,827	18,135
Raw Materials	4,023	3,860	3,251	3,246	2,721	2,319	3,003	4,708	4,521	4,296	5,813	6,680	6,846	7,060	7,812
Work In Process	2,959	2,920	2,589	2,455	1,857	1,719	2,254	1,259	1,147	1,052	1,318	1,452	1,411	1,438	1,598
Finished Goods	7,562	8,767	6,785	6,504	5,122	4,576	4,761	5,562	5,598	6,054	6,907	8,138	8,308	8,329	8,725
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	58,437	58,479	58,591	56,492	40,389	54,188	93,256	75,149	82,937	99,037	112,467	126,224	150,969	176,555	269,249
- Cash & Cash Equivalents	3,057	- -	- -	- -	- -	- -	- -	- -	- -	9,352	9,254	7,004	6,978	6,889	9,980
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	46	50	67	80	76	76	69	41	41	47	32	22	9	3	- -
+ Total Debt	34,592	40,143	37,750	39,285	38,013	36,783	34,878	36,553	37,657	37,163	37,789	36,993	37,878	38,409	43,330
Enterprise Value	90,018	98,672	96,408	95,857	78,478	91,047	128,203	111,743	120,635	126,895	141,034	156,235	181,878	208,078	302,599
Total Capital	64,130	74,232	74,380	78,268	72,573	69,513	66,841	72,848	78,070	78,607	83,501	87,089	95,540	104,705	115,959
Total Debt/Capital (%)	53.94	54.08	50.75	50.19	52.38	52.92	52.18	50.18	48.23	47.28	45.26	42.48	39.65	36.68	37.37
Total Debt / EV	0.38	0.41	0.39	0.41	0.48	0.4	0.27	0.33	0.31	0.29	0.27	0.24	0.21	0.18	0.14
EV/Sales	1.5	1.5	1.73	1.74	1.67	2.36	2.82	2.04	2.24	3.04	2.77	2.63	2.71	3.21	4.48
EV/EBITDA	9.3	8.25	11.06	14.8	11.49	19	17.47	10.1	11.1	18.17	15.28	14.14	12.04	13.67	22.56
EV/EBIT	12.58	10.78	17.13	28.92	20.73	51.82	28.75	13.47	14.55	27.87	20.51	17.7	14.03	15.92	27.14
EV/Cash Flow to Firm	12.41	17.92	9.15	11.36	11.1	16.72	22.09	16.26	16.66	18.91	18.6	19.28	13.69	16.72	24.97
EV/Free Cash Flow to Firm	10.39	13.64	7.74	9.33	8.77	12.53	17.71	13.12	13.63	16.17	18.6	19.28	13.69	16.72	24.97
Diluted Market Cap	60,349	60,003	59,807	57,563	40,864	54,188	94,438	76,166	83,808	99,856	113,397	127,063	151,856	177,535	270,567
Diluted Enterprise Value	91,930	100,196	97,624	96,928	78,953	91,047	129,385	112,760	121,506	127,714	141,964	157,074	182,765	209,058	303,917
EV per Share	139.56	151.2	149.42	155.31	132.05	155.82	216.63	188.95	214.81	233.22	259.25	296.52	356.2	427.53	643.83
TTM Sales	60,138	65,875	55,656	55,184	47,011	38,537	45,462	54,722	53,800	41,748	50,971	59,427	67,060	64,809	67,589
TTM EBITDA	9,680	11,966	8,715	6,477	6,831	4,791	7,337	11,059	10,867	6,985	9,230	11,048	15,110	15,225	13,413
TTM Operating Income	7,153	9,153	5,628	3,314	3,785	1,757	4,460	8,293	8,290	4,553	6,878	8,829	12,966	13,072	11,151
TTM Cash Flow to Firm	7,252	5,508	10,536	8,435	7,071	5,446	5,803	6,874	7,239	6,712	7,582	8,104	13,287	12,446	12,121
TTM Free Cash Flow to Firm	8,661	7,234	12,460	10,275	8,944	7,265	7,241	8,514	8,852	7,849	7,582	8,104	13,287	12,446	12,121

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	7.21	8.68	4.94	5.82	4.77	7.27	13.22	9.29	9.83	13.38	15.75	16.36	11.79	14.75	23.05
EV/EBIT	12.58	10.78	17.13	28.92	20.73	51.82	28.75	13.47	14.55	27.87	20.51	17.7	14.03	15.92	27.14
Enterprise Value	90,018	98,672	96,408	95,857	78,478	91,047	128,203	111,743	120,635	126,895	141,034	156,235	181,878	208,078	302,599
Low Price	67.54	78.25	79.49	85.88	62.99	56.36	90.34	112.06	111.75	87.5	179.34	160.6	204.04	276.94	267.3
EV/Sales	1.5	1.5	1.73	1.74	1.67	2.36	2.82	2.04	2.24	3.04	2.77	2.63	2.71	3.21	4.48
EV/EBITDA	9.3	8.25	11.06	14.8	11.49	19	17.47	10.1	11.1	18.17	15.28	14.14	12.04	13.67	22.56
Price/Earnings	11.86	10.29	15.46	23.04	16.08	- -	123.68	12.23	13.61	33.03	17.33	18.83	14.61	16.36	30.31
Price/Earnings Average	12.68	10.78	14.81	25.35	18.64	-686.32	88.38	13.92	12.25	25.27	17.76	16.12	12.3	15.8	22.21
Price/Earnings High	15.25	13.43	16.98	28.06	21.85	-849.42	124.52	16.67	13.73	33.36	20.68	19.26	14.78	18.87	33.2
Price/Earnings Low	8.84	8.99	13.54	21.62	14.9	-491.51	70.91	10.78	10.3	15.88	15.03	12.62	10.08	12.49	14.14
Price/Book Value	1.98	1.72	1.6	1.45	1.17	1.66	2.92	2.07	2.05	2.39	2.46	2.52	2.62	2.66	3.71
Price/Book Value Average	2.12	1.8	1.53	1.6	1.36	1.41	2.09	2.36	1.85	1.83	2.52	2.16	2.21	2.57	2.72
Price/Book Value High	2.55	2.24	1.76	1.77	1.59	1.74	2.94	2.83	2.07	2.42	2.94	2.58	2.65	3.07	4.06
Price/Book Value Low	1.48	1.5	1.4	1.36	1.09	1.01	1.68	1.83	1.55	1.15	2.14	1.69	1.81	2.03	1.73
Price/Tangible Book Value	39.46	8.83	5.67	8.01	7.41	11.19	17.1	12.6	12.08	12.9	12.29	12.82	11.08	12.74	17.09
Price/Tangible Book Value Average	42.18	9.25	5.43	8.81	8.59	9.49	12.22	14.34	10.87	9.87	12.6	10.98	9.33	12.3	12.52
Price/Tangible Book Value High	50.76	11.52	6.23	9.75	10.07	11.75	17.21	17.17	12.18	13.03	14.67	13.11	11.21	14.7	18.72
Price/Tangible Book Value Low	29.41	7.71	4.97	7.51	6.87	6.8	9.8	11.11	9.14	6.2	10.66	8.6	7.64	9.73	7.97
Price/Sales	0.97	0.89	1.05	1.02	0.86	1.41	2.05	1.37	1.54	2.37	2.21	2.12	2.25	2.72	3.98
Price/Sales Average	1.04	0.93	1.01	1.13	1	1.19	1.47	1.56	1.39	1.81	2.26	1.82	1.9	2.63	2.92
Price/Sales High	1.25	1.16	1.16	1.25	1.17	1.48	2.07	1.87	1.55	2.4	2.63	2.17	2.28	3.14	4.36
Price/Sales Low	0.72	0.78	0.92	0.96	0.8	0.85	1.18	1.21	1.17	1.14	1.91	1.42	1.55	2.08	1.86
Price/Cash Flow	8.4	11.28	5.75	7.01	6.03	9.61	16.34	11.46	12	15.65	15.62	16.25	11.72	14.67	22.94
Price/Cash Flow Average	8.98	11.82	5.51	7.72	6.99	8.15	11.68	13.04	10.8	11.98	16.01	13.91	9.87	14.16	16.8
Price/Cash Flow High	10.81	14.72	6.31	8.54	8.19	10.09	16.45	15.62	12.1	15.81	18.64	16.63	11.86	16.92	25.12
Price/Cash Flow Low	6.26	9.85	5.03	6.58	5.59	5.84	9.37	10.11	9.08	7.52	13.55	10.9	8.09	11.2	10.7
Price/Free Cash Flow Average	7.71	9.1	4.73	6.4	5.53	6.17	9.45	10.57	8.85	10.24	16.15	14.01	9.92	14.24	16.89
Price/Free Cash Flow High	9.28	11.33	5.42	7.08	6.48	7.63	13.31	12.67	9.91	13.51	18.8	16.74	11.93	17.02	25.25
Price/Free Cash Flow Low	5.38	7.58	4.32	5.46	4.42	4.42	7.58	8.19	7.44	6.43	13.67	10.97	8.13	11.26	10.75
EV/Sales Average	1.56	1.54	1.69	1.84	1.81	2.15	2.23	2.23	2.09	2.48	2.82	2.32	2.36	3.12	3.41
EV/Sales High	1.78	1.77	1.84	1.96	1.98	2.43	2.83	2.54	2.26	3.06	3.19	2.68	2.74	3.63	4.86
EV/Sales Low	1.25	1.39	1.6	1.67	1.61	1.81	1.94	1.88	1.87	1.81	2.47	1.93	2.01	2.57	2.35
EV/EBITDA Average	9.72	8.48	10.78	15.67	12.43	17.29	13.85	11.04	10.34	14.84	15.58	12.5	10.46	13.27	17.19
EV/EBITDA High	11.03	9.74	11.72	16.7	13.61	19.57	17.56	12.57	11.17	18.31	17.63	14.4	12.16	15.45	24.47
EV/EBITDA Low	7.76	7.63	10.22	14.26	11.06	14.57	12.05	9.3	9.24	10.8	13.67	10.38	8.94	10.92	11.85
EV/EBIT Average	13.15	11.08	16.69	30.64	22.43	47.15	22.78	14.73	13.55	22.76	20.91	15.64	12.19	15.45	20.68
EV/EBIT High	14.92	12.73	18.15	32.64	24.57	53.37	28.89	16.77	14.64	28.08	23.66	18.02	14.17	17.99	29.44
EV/EBIT Low	10.51	9.97	15.83	27.87	19.95	39.72	19.82	12.4	12.12	16.58	18.34	12.98	10.42	12.72	14.26
Last Price	90.6	89.61	90.81	91.53	67.96	92.74	157.58	127.07	147.68	182.02	206.74	239.56	295.67	362.76	572.87
High Price	116.55	116.95	99.7	111.46	92.37	97.4	158.65	173.24	148.93	183.81	246.69	245.05	299.2	418.5	627.5
Enterprise Value Average	94,056	101,450	93,927	101,525	84,915	82,842	101,583	122,130	112,332	103,628	143,830	138,067	158,040	201,990	230,619
Enterprise Value High	106,756	116,515	102,143	108,158	92,984	93,770	128,836	139,048	121,337	127,869	162,766	159,128	183,681	235,207	328,275
Enterprise Value Low	75,144	91,259	89,104	92,370	75,524	69,790	88,410	102,866	100,457	75,467	126,128	114,631	135,092	166,310	158,981

Shares Outstanding	648	655	638	606	582	586	598	576	550	545	536	516	499	478	465
Diluted Weighted Avg Shares	666	670	659	629	601	584	599	599	568	549	548	530	514	489	472
Basic Weighted Avg Shares	645	653	645	617	594	584	592	591	562	544	544	527	511	487	470
Revenue per Share	93.24	100.94	86.26	89.41	79.1	65.95	76.82	92.53	95.8	76.73	93.7	112.79	131.34	133.16	143.81
EBITDA per Share	15.01	18.34	13.51	10.49	11.49	8.2	12.4	18.7	19.35	12.84	16.97	20.97	29.59	31.28	28.54
Operating Income per Share	11.09	14.03	8.72	5.37	6.37	3.01	7.54	14.02	14.76	8.37	12.64	16.76	25.39	26.86	23.73
Basic EPS, GAAP	7.64	8.71	5.87	3.97	4.23	-0.11	1.27	10.39	10.85	5.51	11.93	12.73	20.24	22.17	18.9
Basic EPS from Cont Ops	7.72	8.77	5.89	4	4.25	-0.1	1.28	10.4	10.85	5.52	11.94	12.72	20.24	22.17	18.9
Diluted EPS, GAAP	7.4	8.48	5.75	3.9	4.18	-0.11	1.26	10.26	10.74	5.46	11.83	12.64	20.12	22.05	18.81
Diluted EPS from Cont Ops	7.48	8.55	5.77	3.92	4.2	-0.1	1.27	10.26	10.74	5.47	11.84	12.64	20.12	22.04	18.81
Dividend per Share	1.8	2.48	1.72	2.62	2.96	3.08	3.09	3.3	3.8	4.12	4.29	4.63	5.02	5.44	5.85
Cash Flow per Share	10.79	7.94	15.8	13.05	11.27	9.65	9.64	11.09	12.31	11.63	13.23	14.74	25.24	24.73	24.98
Free Cash Flow per Basic Share	8.6	5.3	12.81	10.07	8.12	6.54	7.21	8.32	9.44	9.54	13.23	14.74	25.24	24.73	24.98
Cash & Equivalents per Share	4.74	- -	- -	- -	- -	- -	- -	- -	- -	17.19	17.01	13.29	13.67	14.15	21.23
Book Value per Share	45.72	52.16	56.67	63.03	58.02	55.89	53.89	61.3	71.89	76.08	83.97	95.04	112.91	136.21	154.53
Tangible Book Value per Share	2.3	10.15	16	11.43	9.17	8.29	9.22	10.09	12.23	14.11	16.82	18.68	26.7	28.47	33.52

Caterpillar Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)