LIVE
CAT
Caterpillar Inc. · Industrials / Construction Equipment
$915.64
+2.03% this month
VERSUS
⟷
COMPARE
DE
Deere & Company · Industrials / Agricultural Equipment
$573.66
-0.21% this month
AI Score
75.1vs59.4
CAT ↑1Y Return
+159.13%vs+10.32%
CAT ↑Forward P/E
30.16xvs25.53x
DE ↑Target Upside
+3.62%vs+10.42%
DE ↑Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
CAT
3
DE
2
Metrics last refreshed: 6/9/2026
Quick take
CAT vs DE: Caterpillar vs Deere Stock Comparison: AI Score, Valuation, Performance and Upside
Caterpillar and Deere are the two dominant US industrial equipment manufacturers — Caterpillar serving construction and mining, Deere serving agriculture and construction. Both have durable competitive positions, strong free cash flow, and growing services revenue. The key differentiator is end market: CAT's mining exposure benefits from commodity cycles, while DE's agricultural exposure depends on farm income and crop prices.
Use this CAT vs DE comparison to choose between two world-class industrial compounders with different end market drivers. Caterpillar is more exposed to infrastructure spending and mining; Deere is uniquely exposed to agricultural technology adoption as a long-term secular growth layer on top of farm equipment cycles.
Live analysis · updated 6/9/2026
CAT holds the edge across 3 of 5 key metrics in this comparison. CAT has delivered stronger 1-year price return (+159.13% vs +10.32%), though DE trades at the lower forward P/E (25.53x vs 30.16x). CAT leads on both revenue growth (22.20%) and operating margin (18.18%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for DE (+10.42%) than for CAT (+3.62%).
Comparison scoreboard
CAT LEADS 3/5AI Score
CAT ✓75.1
DE 59.4
1Y Return
CAT ✓+159.13%
DE +10.32%
Fwd P/E
CAT 30.16
DE ✓25.53
Target Up.
CAT +3.62%
DE ✓+10.42%
Op. Margin
CAT ✓18.18%
DE 17.48%
Normalized 1Y performance
CAT
DE
Recent returns
CAT
DE
Analyst price targets & sentiment
CAT · 25 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.1/5.0)
Price target range
analyst low$283.00
analyst mean$936.99
current price$915.64
+3.6% upside to analyst mean
DE · 23 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.3/5.0)
Price target range
analyst low$460.00
analyst high$750.00
analyst mean$644.21
current price$573.66
+10.4% upside to analyst mean
Who should consider this stock?
CAT may suit investors who:
- →Want global construction and mining equipment leadership with a high-quality services revenue growth layer
- →Value the dealer network breadth and aftermarket parts business as durable margin contributors
- →Prefer exposure to infrastructure spending and global mining commodity cycles
- →Prioritise a long dividend growth record combined with consistent buybacks as part of the total return
DE may suit investors who:
- →Want the global agricultural equipment leader with a technology moat in Precision Agriculture
- →Value autonomous and semi-autonomous farming technology as a structural long-term differentiation driver
- →Are comfortable with farm income and crop price sensitivity in exchange for DE's technology premium
- →Believe digital agriculture services will compound as a high-margin growth layer over the equipment cycle
Performance & AI score
| Metric | CAT | DE |
|---|---|---|
| AI score | 75.1 | 59.4 |
| AI rank | #30 | #195 |
| Latest close | $915.64 | $573.66 |
| 1M return | +2.03% | -0.21% |
| 6M return | +51.80% | +20.74% |
| 1Y return | +159.13% | +10.32% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | CAT | DE |
|---|---|---|
| 1Y ago | $25.57K (+155.7%) started 2025-06-09 | $11K (+10.0%) started 2025-06-09 |
| 5Y ago | $45.82K (+358.2%) started 2021-06-09 | $18.26K (+82.6%) started 2021-06-09 |
| 10Y ago | $187.3K (+1773.0%) started 2016-06-09 | $89.76K (+797.6%) started 2016-06-09 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | CAT | DE |
|---|---|---|
| Market cap | $416.5B | $157.49B |
| Trailing P/E | 45.03 | 33.00 |
| Forward P/E | 30.16 | 25.53 |
| Price/Sales | 2.63 | 3.10 |
| EV/Revenue | 6.45 | 4.17 |
| Analyst target | $936.99 | $644.21 |
| Target upside | +3.62% | +10.42% |
Growth, profitability & risk
| Metric | CAT | DE |
|---|---|---|
| Revenue growth | 22.20% | -11.10% |
| Earnings growth | 30.20% | -8.50% |
| EPS growth | +30.20% | -8.50% |
| FCF margin | +5.34% | +2.32% |
| Operating margin | 18.18% | 17.48% |
| Profit margin | 13.33% | 10.10% |
| ROIC proxy | 51.33% | 18.35% |
| Return on equity | 51.33% | 18.35% |
| Dividend yield | 0.67% | 1.11% |
| Beta | 1.60 | 0.93 |
| Debt/equity | 230.79 | 376.02 |
| Current ratio | 1.35 | 2.21 |
| Quick ratio | 0.73 | 1.97 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
CAT max drawdown13.88%
DE max drawdown20.13%
CAT max wkly drop9.56%
DE max wkly drop7.53%
5Y risk snapshot
CAT max drawdown34.05%
DE max drawdown33.81%
CAT max wkly drop17.13%
DE max wkly drop14.56%
10Y risk snapshot
CAT max drawdown43.36%
DE max drawdown37.91%
CAT max wkly drop24.36%
DE max wkly drop21.71%
Performance metrics by period
| Period | Metric | CAT | DE |
|---|---|---|---|
| 1Y | Growth | +155.72% | +9.96% |
| CAGR | +156.72% | +10.01% | |
| Sharpe ratio | 2.80 | 0.32 | |
| Max drawdown | 13.88% | 20.13% | |
| Max daily drop | 4.59% | 6.76% | |
| Max wkly drop | 9.56% | 7.53% | |
| 5Y | Growth | +322.18% | +73.00% |
| CAGR | +33.40% | +11.59% | |
| Sharpe ratio | 0.95 | 0.37 | |
| Max drawdown | 34.05% | 33.81% | |
| Max daily drop | 8.64% | 14.07% | |
| Max wkly drop | 17.13% | 14.56% | |
| 10Y | Growth | +1373.30% | +665.63% |
| CAGR | +30.88% | +22.58% | |
| Sharpe ratio | 0.88 | 0.68 | |
| Max drawdown | 43.36% | 37.91% | |
| Max daily drop | 14.28% | 14.07% | |
| Max wkly drop | 24.36% | 21.71% |
Business comparison
| Category | CAT | DE |
|---|---|---|
| Company | Caterpillar Inc. | Deere & Company |
| Sector | Industrials | Industrials |
| Industry | Farm & Heavy Construction Machinery | Farm & Heavy Construction Machinery |
| Core business | World's largest manufacturer of construction and mining equipment, diesel and natural gas engines, industrial turbines, and diesel-electric locomotives. Serves construction, resource (mining), and energy & transportation end markets globally. Financial Products division provides equipment financing. | World's largest manufacturer of agricultural and construction equipment. Brands include John Deere (ag), and construction equipment. Precision Agriculture technology (autonomy, smart attachments, data services) is a growing high-margin layer. Financial Services provides equipment loans and leases. |
| Investor focus | Services revenue growth (aftermarket parts, digital, financing), dealer inventory normalisation, mining end market durability, and capital return via buybacks and dividends. | Precision Agriculture technology adoption (JDLink, Operations Center, See & Spray), farm income and crop price sensitivity, equipment order rates, and technology revenue durability. |
CAT strengths
- →Global market leader in construction and mining equipment with unmatched dealer network breadth
- →Services revenue (aftermarket, parts, digital) is growing and higher-margin than equipment — improving earnings quality
- →Strong free cash flow generation consistently returned to shareholders via buybacks and a 30+ year dividend growth record
DE strengths
- →Market-leading Precision Agriculture technology gives Deere a software and data moat on top of its hardware base
- →Autonomous and semi-autonomous farming technology (AutoPath, See & Spray) creates a differentiated technology layer
- →Equipment installed base of millions of machines globally creates an enormous opportunity for aftermarket parts and technology upgrades
Risks to watch — CAT
- →Construction and mining equipment demand is cyclical — a slowdown in infrastructure or commodity markets impacts orders
- →Dealer inventory de-stocking has been a headwind; when inventory is worked down, orders recover but timing is uncertain
- →China exposure is an ongoing risk given construction market weakness and geopolitical considerations
Risks to watch — DE
- →Farm income is highly sensitive to crop prices — corn, soybean, and wheat price declines reduce farmer willingness to invest in new equipment
- →Large equipment order book has normalised from post-pandemic highs — near-term orders may be soft as dealer lots refill
- →Precision Agriculture adoption, while strategically important, is still a relatively small part of overall earnings
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