CAT

Caterpillar Inc

NYSE: CAT · INDUSTRIALS · FARM & HEAVY CONSTRUCTION MACHINERY

$910.57

+1.44% today

Updated 2026-06-12

Market cap

$419.05B

P/E ratio

45.24

P/S ratio

5.92x

EPS (TTM)

$20.11

Dividend yield

0.70%

52W range

$342 – $937

Volume

2.5M

Market cap

$419.05B

P/E ratio

45.24

P/S ratio

5.92x

EPS (TTM)

$20.11

Dividend yield

0.70%

52W range

$342 – $937

Volume

2.5M

Caterpillar Inc (CAT) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

CAT · Caterpillar Inc · Price target summary

Current

$910.57

Consensus

$913.00

+0.27%

2030 Target

$518.37

-43.07%

DCF

—

Current price

$910.57

Analyst consensus

$913.00

+0.27%

2030 Target

$518.37

-43.07%

Intrinsic (DCF)

—

28 analysts:

22 Buy6 Hold2 Sell

Management guidance

CEO Joe Creed highlighted in Q1 2026 earnings that Caterpillar expects 'significant' AI-driven power demand to fuel growth through 2030, with the company raising its 2030 outlook. Management emphasized strong infrastructure spending tailwinds and energy transition opportunities. Specific revenue targets were not quantified in available guidance, but the company guided to continued double-digit growth momentum in near-term.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

CAT · Caterpillar Inc · Revenue & price projection · 2023–2030E

Actual revenue Projected revenue Base case Bull to bear range

Bear case (2030)

$259.19

$117.9B Rev × 1.2x P/S

Base case (2030)

$518.37

$117.9B Rev × 2x P/S

Bull case (2030)

$777.56

$117.9B Rev × 3.2x P/S

WallStSmart.com

Financial forecast — research-backed

Metric	2025	2026 (E)	2027 (E)	2028 (E)	2029 (E)	2030 (E)
Revenue	$67.6B	$75.6B	$82.4B	$92.8B	$104.7B	$117.9B
Revenue growth	4.3%	11.9%	9.0%	12.6%	12.8%	12.6%
EPS	$18.93	$24.00	$29.20	$36.50	$43.80	$51.50
P/S ratio	—	2.0x	2.0x	2.0x	2.0x	2.0x
Implied price	—	$345.58	$345.58	$345.58	$431.98	$518.37

CAT · Caterpillar Inc · Catalysts & risks

Growth catalysts

+ AI-driven power generation demand fueling orders for backup power systems and infrastructure

+ Infrastructure spending from U.S. government and international markets supporting construction equipment demand

+ Energy transition and renewable energy buildout requiring heavy equipment and power solutions

+ Data center expansion and electrification driving aftermarket services and parts revenue

+ Tariff management and pricing power offsetting inflationary pressures

Key risks

- Rising tariff costs expected to increase throughout 2026, pressuring operating margins at lower end of guidance

- Macroeconomic slowdown in China and weakening global freight activity could reduce equipment demand

- Valuation concerns with current P/E of 44.9x leaving limited room for disappointment

- Insider selling by executives including CFO and Group President suggests caution at current levels

- Cyclical downturn in heavy construction and truck markets could reverse momentum faster than projected

Methodology

Caterpillar Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 28 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 19, 2026.