Caterpillar price to book ratio CAT

Market value divided by the book value of the company's net assets, since 2009.

Today, Oct 23, 2026: 16.3×
10-year median: 6.6×
Against its 10-year history: 94th; percentile: 0 is its lowest day, 100 its highest
10-year range: 3.1× to 24.6×
Peer median: 9.6×

Caterpillar's price to book ratio is 16.3× as of Oct 23, 2026.

That is above its ten-year median of 6.6×, higher than on 94% of days in the last ten years.

Over that time it ranged from 3.1× in Nov 2016 to 24.6× in Jun 2026.

The median for 10 industrial stocks of a similar size is 9.6×.

Price to book ratio over time

median 6.6×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	16.3×	13.6×	24.6×
2025	13.2×	7.1×	14.5×
2024	9.1×	7.1×	11.4×
2023	7.3×	6.0×	8.8×
2022	8.0×	5.4×	8.0×
2021	6.7×	6.3×	8.3×
2020	6.6×	3.6×	6.7×
2019	5.5×	4.3×	5.9×
2018	4.7×	4.5×	7.1×
2017	6.0×	3.5×	6.0×
2016	3.5×	2.2×	3.6×
2015	2.5×	2.3×	3.2×
2014	3.0×	2.8×	3.4×
2013	3.2×	2.9×	3.6×
2012	3.2×	3.0×	5.8×
2011	4.1×	3.6×	6.8×
2010	6.0×	4.0×	6.1×
2009	4.4×	3.9×	4.9×

Against its peers

Companies in Industrials nearest Caterpillar's size, closest first, today.

Company	Price to book ratio
CATCaterpillar	16.3×
GEGE Aerospace	16.8×
RTXRTX	3.7×
GEVGE Vernova	18.2×
DEDeere	6.2×
UNPUnion Pacific	7.9×
BABoeing	24.4×
ETNEaton	7.0×
LMTLockheed Martin	13.9×
PHParker-Hannifin	7.2×
TTTrane Technologies	11.4×
Peer median	9.6×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Caterpillar

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.