CAT P/E ratio: current value, 10-year range and year-by-year history
Cash & Leverage
CAT's p/e ratio is higher than 82% of the last 10 years.
P/E ratio History
CAT P/E ratio by year
Yearly range of CAT’s p/e ratio from 2016 to 2026. Over the full period it ranged from -761.7 to 834.9, averaging 17.6.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 31.7 | 39.3 | 52.6 | 35.0 |
| 2025 | 13.3 | 20.8 | 32.1 | 30.4 |
| 2024 | 13.8 | 16.3 | 19.3 | 16.4 |
| 2023 | 12.8 | 16.8 | 20.9 | 16.8 |
| 2022 | 11.9 | 16.4 | 19.7 | 17.4 |
| 2021 | 17.5 | 30.4 | 42.8 | 17.5 |
| 2020 | 8.6 | 18.0 | 33.3 | 33.3 |
| 2019 | 10.6 | 12.6 | 14.1 | 13.8 |
| 2018 | 12.4 | 52.9 | 135.6 | 12.4 |
| 2017 | -761.7 | -51.5 | 834.9 | 109.4 |
| 2016 | 43.1 | 51.1 | 56.6 | 53.9 |
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How much the market pays for each dollar of annual profit. P/E = Stock Price / EPS. The raw number means little — what matters is whether it's high or low relative to the company's own history.
Price / Earnings Per ShareThe chart shows five color-coded historical zones: green (below 10th percentile) means historically very cheap, fading through lime and gray (the normal 25th–75th range) to orange and red (historically expensive). When the line sits in a green or lime zone, the stock is trading at an unusually low P/E relative to its own history.
- Cyclical businesses look cheapest on P/E at peak earnings — the "earnings trap." Use EV/EBITDA or normalised earnings for energy, materials, and financials.
- A falling P/E trend may signal a business in structural decline, not a buying opportunity.
Is CAT P/E ratio High or Low Right Now?
Caterpillar Inc.'s P/E ratio is currently 35.0, which is historically pricey relative to its 10-year historical range. The 10-year median P/E ratio for CAT is approximately 18.3. See all CAT valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.