Caterpillar vs Deere & Company: Business Model & Financial Comparison 2026
Caterpillar · Industrials / Farm & Heavy Construction Machinery·Deere & Company · Industrials / Farm & Heavy Construction Machinery
Financial Comparison
| Metric | CATCaterpillar | DEDeere & Company |
|---|---|---|
| Market Cap | $405.27B | $142.93B |
| Revenue (TTM) | $70.76B | $47.34B |
| Revenue Growth | 22.2% | -11.1% |
| Gross Margin | 28.6% | 25.9% |
| Operating Margin | 18.2% | 17.5% |
| Net Margin | 13.3% | 10.1% |
| Return on Equity | 51.3% | 18.3% |
| P/E (Trailing) | 43.9x | 29.9x |
| P/E (Forward) | 29.5x | 23.1x |
| Free Cash Flow | $3.78B | $2.02B |
| Cash | $3.32B | $8.83B |
| Total Debt | $43.07B | $48.47B |
Data sourced from Yahoo Finance. Green highlights indicate better performance for that metric. Use the interactive tool for real-time data.
Business Model Comparison
Caterpillar
Caterpillar Inc. stands as a leading company in Industrials. Generating $67.59 billion in annual revenue (growing 18.0% year-over-year) and carrying a market capitalization of $330.43 billion, the company has cemented its position as a foundational player in the global Farm & Heavy Construction Machinery landscape. Under the leadership of its leadership team, Caterpillar Inc. continues to execute on a multi-year strategic vision that balances gro…
Full Caterpillar analysis →Deere & Company
Deere & Company is a leading company in the agricultural equipment industry. Deere and Company (DE) reported $61.3 billion in net revenues for fiscal 2023, with its Production and Precision Agriculture segment ($26.6B), Small Agriculture and Turf ($12.3B), Construction and Forestry ($13.4B), and Financial Services ($4.8B) segments all delivering record or near-record results
Full Deere & Company analysis →SWOT Analysis Comparison
- With a market capitalization of $330.43B, Caterpillar Inc. is one of the largest companies in its sector, providing the scale advantages of brand recognition, supplier leverage, and capital access tha
- Caterpillar Inc. maintains a gross margin of 28.8% and operating margin of 16.0%, demonstrating consistent operational execution and cost discipline in a competitive market.
- Revenue grew 18.0% year-over-year to $67.59B, indicating strong demand for Caterpillar Inc.'s products and services and outperformance relative to many industry peers.
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- With a debt-to-equity ratio of 206.7, Caterpillar Inc. carries significant debt relative to equity. While manageable given its cash flow, elevated leverage limits financial flexibility and increases v
- With 118,000 employees globally, Caterpillar Inc. faces inherent challenges in agility, decision-making speed, and maintaining a consistent culture across geographies — advantages that smaller, nimble
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- Caterpillar Inc. operates in the Farm & Heavy Construction Machinery segment of the broader Industrials sector, which represents a $8.4 trillion global industrial market. Even modest share gains in th
- Emerging markets — particularly India (1.4B people, rapidly growing middle class), Southeast Asia (700M people), and Sub-Saharan Africa — represent significant untapped addressable markets for Caterpi
- With $9.33B in cash and strong free cash flow generation, Caterpillar Inc. is well-positioned to pursue strategic acquisitions that expand its capabilities, customer base, or geographic reach.
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- Global economic slowdowns, inflation, or rising interest rates can reduce consumer and enterprise spending. Caterpillar Inc.'s revenue is not fully insulated from macroeconomic cycles, and a recession
- Increasing government regulation — particularly data privacy laws (GDPR, CCPA), antitrust enforcement, and trade restrictions — poses compliance costs and potential restrictions on Caterpillar Inc.'s
- Competition for skilled technology, engineering, and management talent remains intense. High employee turnover or inability to attract top talent could slow innovation and execution — particularly cri
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Open Comparison ToolCaterpillar vs Deere & Company: FAQ
- Is Caterpillar bigger than Deere & Company?
- By market capitalization, Caterpillar is larger at $405.27B vs Deere & Company's $142.93B.
- Which has better profit margins — Caterpillar or Deere & Company?
- Caterpillar has higher net profit margins (13.3%) compared to Deere & Company (10.1%). Gross and operating margins are compared in the table above.
- What sectors do Caterpillar and Deere & Company operate in?
- Caterpillar operates in the Industrials sector (Farm & Heavy Construction Machinery). Deere & Company operates in the Industrials sector (Farm & Heavy Construction Machinery).
- How does Caterpillar's revenue compare to Deere & Company's?
- Caterpillar generates $70.76B in annual revenue (TTM) while Deere & Company generates $47.34B. Caterpillar is the larger company by revenue as of 2026.