Price to Sales (P/S)
since 2005
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Caterpillar Inc. pages available for free this week:
- Income Statement
- Cash Flow Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Calculation
Caterpillar Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Sales of Machinery, Energy & Transportation1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 14, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Caterpillar Inc. Annual Report.
- Share Price Trends
- The share price exhibited considerable volatility over the analyzed period. Initially, the price decreased from 73.06 USD in 2006 to a low of 26.66 USD in 2009, marking a significant downturn. This was followed by a strong recovery and upward trend, reaching a peak of 115 USD in 2012. Subsequently, the price fluctuated moderately before entering a sustained upward trajectory starting in 2016, culminating in a high of 353.32 USD by 2025. This represents substantial long-term growth despite intermittent declines.
- Sales Per Share Dynamics
- Sales per share showed a general upward trend, albeit with periodic fluctuations. From 50.69 USD in 2006, sales increased steadily to a peak of 96.28 USD in 2013 before declining sharply to 61 USD in 2017. After this dip, sales per share rebounded strongly, increasing to 128.39 USD in 2025. This upward trend suggests overall improvement in the company's revenue-generating capacity on a per-share basis, though short-term interruptions indicate volatility in sales performance.
- Price-to-Sales Ratio (P/S) Analysis
- The P/S ratio mirrored the share price and sales per share movements, reflecting investor valuation relative to revenue. The ratio started at 1.44 in 2006, declined to a low of 0.33 in 2009 coinciding with the share price dip, then climbed to 1.63 in 2011. After fluctuating around 1.0 to 1.3 between 2012 and 2015, it saw a notable increase from 2016 onward, surpassing 2.0 from 2017 and reaching 2.75 in 2025. This rising P/S ratio in recent years indicates heightened market optimism and willingness to pay a premium over sales, possibly reflecting expectations of future growth or improved profitability.
- Overall Financial Insights
- The data portrays a company experiencing cyclical challenges, notably the significant downturn during 2008-2009, likely linked to broader economic conditions. Recovery phases are followed by periods of consolidation and renewed growth. The increasing share price supported by rising sales per share suggests enhanced operational performance and market confidence. The elevated P/S ratios in the latter years point to strong investor sentiment and expectations of continued financial improvement.
Comparison to Competitors
Caterpillar Inc., P/S, long-term trends, comparison to competitors
| Caterpillar Inc. | Boeing Co. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Feb 14, 2025 | |||||||
| Feb 16, 2024 | |||||||
| Feb 15, 2023 | |||||||
| Feb 16, 2022 | |||||||
| Feb 17, 2021 | |||||||
| Feb 19, 2020 | |||||||
| Feb 14, 2019 | |||||||
| Feb 15, 2018 | |||||||
| Feb 15, 2017 | |||||||
| Feb 16, 2016 | |||||||
| Feb 17, 2015 | |||||||
| Feb 18, 2014 | |||||||
| Feb 19, 2013 | |||||||
| Feb 21, 2012 | |||||||
| Feb 22, 2011 | |||||||
| Feb 19, 2010 | |||||||
| Feb 20, 2009 | |||||||
| Feb 22, 2008 | |||||||
| Feb 23, 2007 | |||||||
| Feb 22, 2006 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Caterpillar Inc., P/S, long-term trends, comparison to sector (capital goods)
| Caterpillar Inc. | Capital Goods | |
|---|---|---|
| Feb 14, 2025 | ||
| Feb 16, 2024 | ||
| Feb 15, 2023 | ||
| Feb 16, 2022 | ||
| Feb 17, 2021 | ||
| Feb 19, 2020 | ||
| Feb 14, 2019 | ||
| Feb 15, 2018 | ||
| Feb 15, 2017 | ||
| Feb 16, 2016 | ||
| Feb 17, 2015 | ||
| Feb 18, 2014 | ||
| Feb 19, 2013 | ||
| Feb 21, 2012 | ||
| Feb 22, 2011 | ||
| Feb 19, 2010 | ||
| Feb 20, 2009 | ||
| Feb 22, 2008 | ||
| Feb 23, 2007 | ||
| Feb 22, 2006 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Caterpillar Inc., P/S, long-term trends, comparison to industry (industrials)
| Caterpillar Inc. | Industrials | |
|---|---|---|
| Feb 14, 2025 | ||
| Feb 16, 2024 | ||
| Feb 15, 2023 | ||
| Feb 16, 2022 | ||
| Feb 17, 2021 | ||
| Feb 19, 2020 | ||
| Feb 14, 2019 | ||
| Feb 15, 2018 | ||
| Feb 15, 2017 | ||
| Feb 16, 2016 | ||
| Feb 17, 2015 | ||
| Feb 18, 2014 | ||
| Feb 19, 2013 | ||
| Feb 21, 2012 | ||
| Feb 22, 2011 | ||
| Feb 19, 2010 | ||
| Feb 20, 2009 | ||
| Feb 22, 2008 | ||
| Feb 23, 2007 | ||
| Feb 22, 2006 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).