Stock Analysis on Net

Caterpillar Inc. (NYSE:CAT)

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Enterprise Value to FCFF (EV/FCFF)

Microsoft Excel

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Free Cash Flow to The Firm (FCFF)

Caterpillar Inc., FCFF calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Profit attributable to common stockholders
Profit attributable to noncontrolling interests
Net noncash charges
Changes in assets and liabilities, net of acquisitions and divestitures
Net cash provided by operating activities
Interest paid on short-term and long-term borrowings, net of tax1
Capital expenditures, excluding equipment leased to others
Expenditures for equipment leased to others
Proceeds from disposals of leased assets and property, plant and equipment
Free cash flow to the firm (FCFF)

Based on: 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).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Caterpillar Inc. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Caterpillar Inc. FCFF decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Interest Paid, Net of Tax

Caterpillar Inc., interest paid, net of tax calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Effective Income Tax Rate (EITR)
EITR1
Interest Paid, Net of Tax
Interest paid on short-term and long-term borrowings, before tax
Less: Interest paid on short-term and long-term borrowings, tax2
Interest paid on short-term and long-term borrowings, net of tax

Based on: 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).

1 See details »

2 2021 Calculation
Interest paid on short-term and long-term borrowings, tax = Interest paid on short-term and long-term borrowings × EITR
= × =


Enterprise Value to FCFF Ratio, Current

Caterpillar Inc., current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV)
Free cash flow to the firm (FCFF)
Valuation Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors1
3M Co.
Boeing Co.
General Electric Co.
Honeywell International Inc.
Lockheed Martin Corp.
Raytheon Technologies Corp.
EV/FCFF, Sector
Capital Goods
EV/FCFF, Industry
Industrials

Based on: 10-K (reporting date: 2021-12-31).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

Caterpillar Inc., historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Enterprise value (EV)1
Free cash flow to the firm (FCFF)2
Valuation Ratio
EV/FCFF3
Benchmarks
EV/FCFF, Competitors4
3M Co.
Boeing Co.
General Electric Co.
Honeywell International Inc.
Lockheed Martin Corp.
Raytheon Technologies Corp.
EV/FCFF, Sector
Capital Goods
EV/FCFF, Industry
Industrials

Based on: 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).

1 See details »

2 See details »

3 2021 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. Caterpillar Inc. EV/FCFF ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.