Caterpillar Stock Price, News & Analysis

Caterpillar Inc. (NYSE: CAT) is a global manufacturing company that describes itself as the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company operates in the construction machinery manufacturing industry within the broader manufacturing sector and does business on every continent.

Caterpillar principally operates through three primary segments: Construction Industries, Resource Industries and Power & Energy (also described in some materials as Energy & Transportation). In addition to these operating segments, Caterpillar provides financing and related services through its Financial Products segment, which includes a captive finance subsidiary that helps facilitate sales of Caterpillar equipment and services.

According to available descriptions, Caterpillar's market share approaches 20% across many of its products. The company supports its equipment and power systems through an independent global dealer network of more than 150 dealers that operate approximately 2,800 facilities, giving Caterpillar reach into about 190 countries for sales and support services. The firm states that its global reach is approximately evenly balanced between the United States and the rest of the world, with Construction Industries skewing more toward domestic markets and other divisions being more geographically diversified.

Caterpillar emphasizes that for 100 years it has been helping customers build what it calls a better, more sustainable world and notes that it is committed and contributing to a reduced-carbon future. Its product and service offerings are described as innovative and backed by its global dealer network, with the stated goal of providing value that helps customers succeed in building and powering critical infrastructure and industrial activity.

Business Segments and Activities

The company reports its activities through several major segments:

• Construction Industries – This segment includes Earthmoving, Excavation, Building Construction Products (BCP), China Operation, Cat Rental & Used, Customer Solutions Core Regions and Customer Solutions Growth Regions divisions, as well as the Construction Industries Supply Management group. These operations focus on construction equipment and related services.
• Resource Industries – This segment covers equipment and services for mining and other resource-related applications, reflecting Caterpillar's role in supplying machines for some of the world's most demanding mining environments.
• Power & Energy / Energy & Transportation – This segment includes off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, and related power systems. Caterpillar also highlights its position as a global leader in power systems and its subsidiary Solar Turbines, which manufactures mid-sized industrial gas turbines used in applications such as electric power generation, oil and natural gas production and natural gas transmission.
• Financial Products – Through this segment, Caterpillar provides financing and related services that support customers and dealers and help enable the purchase and deployment of Caterpillar equipment and solutions.

Industrial AI, Autonomy and Digital Capabilities

Caterpillar describes a significant focus on Industrial AI, autonomy and digital technology. The company has highlighted decades of experience deploying autonomous machines in mining and has stated that this expertise is being expanded to construction equipment. It has previewed autonomous machines designed to operate in complex construction environments and has showcased connected jobsites where AI anticipates needs, guides machines and coordinates operations in real time.

Caterpillar has introduced the Cat AI Assistant, which it describes as an AI-based solution that unifies its portfolio of digital applications and large volumes of high-quality data into a conversational experience. According to the company, Cat AI Assistant operates against the Caterpillar knowledge base and Helios data platform, is intended to provide personalized data and insights, and is positioned as a proactive partner for customers, fleet managers, technicians and machine operators. The company explains that Cat AI Assistant is designed to help with buying, maintaining, managing and operating equipment, and that it can support tasks such as accessing instruction manuals, guiding troubleshooting and offering real-time coaching and safety-related information in the cab.

Caterpillar has also announced an expanded collaboration with NVIDIA to drive AI-enhanced customer solutions and manufacturing systems. This collaboration includes the use of platforms such as NVIDIA Jetson Thor for real-time AI inference on Caterpillar equipment, with the stated goal of enabling AI-assisted and potentially autonomous operations, intelligent in-cab experiences and AI-driven recommendations for construction and mining machines. Caterpillar further notes that it is using NVIDIA AI infrastructure and Omniverse-based digital twins to design, simulate and optimize factory layouts and production processes.

Power Systems and Data Center Collaboration

In the power systems area, Caterpillar and Vertiv have announced a collaboration on advanced energy optimization solutions for data centers. Under this initiative, Caterpillar and its subsidiary Solar Turbines will supply power generation solutions such as natural gas turbines and reciprocating engines to deliver electric power and thermal energy for combined cooling, heat and power (CCHP) applications. Vertiv contributes power distribution and cooling solutions packaged as modular, pre-designed blocks. The companies state that the goal of this collaboration is to provide integrated architectures that can help data center customers accelerate deployment, improve energy efficiency and benefit from global lifecycle support.

Corporate Profile and Capital Markets

Caterpillar Inc. is incorporated in Delaware and lists its common stock on the New York Stock Exchange under the symbol CAT. The company also has 5.3% debentures due September 15, 2035, which trade on the New York Stock Exchange under the symbol CAT35. Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933. It has reported paying higher annual dividends to shareholders for 32 consecutive years and is recognized as a member of the S&P 500 Dividend Aristocrats Index.

Caterpillar has discussed its Strategic Plan for Profitable Growth in investor presentations, stating that it has delivered strong total shareholder returns and achieved previous investor day targets. The company has outlined investment plans in advanced technology intended to address customer challenges and has indicated that it sets financial targets and metrics through 2030, including ranges for adjusted operating profit margin and ME&T free cash flow and commitments related to shareholder returns.

Leadership and Governance

In its regulatory filings, Caterpillar has reported board and leadership transitions. An 8-K filing dated January 6, 2026 describes a board leadership transition in which D. James Umpleby III will resign as a member of the Board, effective April 1, 2026. On that date, Joseph E. Creed, identified in the filing as the company's Chief Executive Officer and a director, will assume the title of Chairman of the Board. The same filing notes that the Board approved amended and restated bylaws that, among other things, change the title of the Board's "Presiding Director" to "Lead Independent Director."

Other Caterpillar announcements describe leadership changes within operating segments, such as the appointment of a new group president of Construction Industries and the planned retirement of the current group president after a transition period. These changes reflect ongoing evolution in the company's management structure while maintaining continuity in its segment organization.

Community and Philanthropy

Through the Caterpillar Foundation, the company highlights philanthropic efforts focused on workforce skills and community resilience. Caterpillar reports that employees and retirees, together with the Caterpillar Foundation, have pledged significant amounts to United Way chapters and partner agencies across multiple countries, and that the Foundation matches employee and retiree donations dollar-for-dollar. The company notes that its annual campaign supports hundreds of United Way chapters and that it has been recognized as a leading corporate partner by United Way.

The Caterpillar Foundation states that its mission is to build thriving communities by investing in the skills people need to succeed in the workforce and by supporting human, natural and basic services infrastructure. Examples mentioned in company materials include grants to support vocational training and work readiness services in collaboration with local organizations.

Role in Industrial and Infrastructure Markets

Caterpillar describes its equipment and power systems as central to building and powering infrastructure that underpins modern technology and economic activity. The company cites applications that range from mining for critical minerals used in semiconductors and batteries to constructing roads, bridges, data centers and energy systems. It presents its focus on AI, autonomy and digital tools as an evolution of its long-standing role in heavy industry, with the stated aim of transforming machines into intelligent, connected systems that support productivity, efficiency and safety in complex worksites.

FAQs

• What does Caterpillar Inc. do?
  Caterpillar Inc. manufactures construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. It also offers financing and related services through its Financial Products segment.
• How is Caterpillar organized from a business segment perspective?
  Caterpillar reports its operations through three primary segments—Construction Industries, Resource Industries and Power & Energy (also described as Energy & Transportation)—and a Financial Products segment that provides financing and related services.
• On which exchange is Caterpillar stock listed and what is its ticker symbol?
  Caterpillar's common stock is listed on the New York Stock Exchange under the symbol CAT. The company also has 5.3% debentures due September 15, 2035 that trade under the symbol CAT35.
• How does Caterpillar describe its global reach?
  Caterpillar states that it does business on every continent and that its global reach is approximately evenly balanced between the United States and the rest of the world. It supports customers through an independent dealer network of more than 150 dealers with about 2,800 facilities in roughly 190 countries.
• What is Cat AI Assistant?
  Cat AI Assistant is described by Caterpillar as an AI-based solution that unifies its digital applications and data into a conversational experience. It is intended to help customers, fleet managers, technicians and operators buy, maintain, manage and operate equipment by providing personalized information, guidance and insights.
• How is Caterpillar using AI and autonomy in its equipment?
  Caterpillar reports that it has decades of experience with autonomous mining equipment and is extending this expertise to construction machines. In collaboration with NVIDIA and through its own digital platforms, the company is equipping machines and jobsites with AI capabilities for real-time recommendations, autonomy-ready operations and intelligent in-cab experiences.
• What role does Solar Turbines play within Caterpillar?
  Solar Turbines is a wholly owned subsidiary of Caterpillar that manufactures mid-sized industrial gas turbines in the 1–39 MW range. These turbines are used in applications such as electric power generation, oil and natural gas production and natural gas transmission.
• How does Caterpillar describe its dividend history?
  Caterpillar states that it has paid a cash dividend every year since the company was formed and a quarterly dividend since 1933. It reports that it has paid higher annual dividends to shareholders for 32 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index.
• What is Caterpillar's stated approach to sustainability?
  Caterpillar describes itself as helping customers build a better, more sustainable world and states that it is committed and contributing to a reduced-carbon future. It links this to its products, services and technology, as well as to collaborations focused on energy efficiency and on-site power solutions.
• How does Caterpillar support communities and workforce development?
  Through the Caterpillar Foundation and employee engagement, the company supports United Way chapters and other organizations focused on workforce skills and community resilience. It has announced grants for vocational training and initiatives aimed at helping workers gain skills needed in increasingly digital and autonomous industrial environments.