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Caterpillar price to free cash flow CAT

Market value divided by free cash flow over the last twelve months, since 2010.

Today, Oct 23, 2026
35.1×
10-year median
21.2×
Against its 10-year history
85th
percentile: 0 is its lowest day, 100 its highest
10-year range
12.4× to 58.2×
Peer median
28.4×

Caterpillar's price to free cash flow is 35.1× as of Oct 23, 2026.

That is above its ten-year median of 21.2×, higher than on 85% of days in the last ten years.

Over that time it ranged from 12.4× in Mar 2020 to 58.2× in Jun 2026.

The median for 10 industrial stocks of a similar size is 28.4×.

Price to free cash flow over time

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

YearEnd of yearLowHigh
2026 so far35.1×35.1×58.2×
202536.1×15.6×37.3×
202418.3×15.8×21.1×
202319.7×15.9×36.5×
202233.1×18.6×39.4×
202119.4×16.8×30.2×
202019.1×12.4×27.8×
201920.9×14.0×36.9×
201833.9×20.0×43.8×
201721.1×14.8×23.1×
201621.6×9.8×22.3×
201511.2×8.5×15.1×
201410.0×7.4×11.3×
20138.7×7.9×43.8×
201238.2×11.4×39.1×
201110.8×10.3×21.5×
201018.5×7.8×18.6×

Against its peers

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

CompanyPrice to free cash flow
CATCaterpillar35.1×
GEGE Aerospacen/m
RTXRTXn/m
GEVGE Vernova17.5×
DEDeere28.9×
UNPUnion Pacificn/m
BABoeingn/m
ETNEaton36.1×
LMTLockheed Martinn/m
PHParker-Hannifin28.4×
TTTrane Technologies27.6×
Peer median28.4×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Caterpillar

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