Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

Caterpillar Inc. (CAT)

Company Dividend Discount ModelIndustry: Agricultural - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$238.29 - $400.86$309.48
Multi-Stage$273.25 - $299.11$285.94
Blended Fair Value$297.71
Current Price$477.15
Upside-37.61%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS4.41%5.03%5.555.385.124.894.714.474.093.843.783.69
YoY Growth--3.24%5.04%4.63%3.97%5.21%9.28%6.55%1.78%2.39%8.46%
Dividend Yield--1.68%1.48%2.24%2.20%2.03%3.86%2.92%2.61%4.07%4.82%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)9,263.00
(-) Cash Dividends Paid (M)2,723.00
(=) Cash Retained (M)6,540.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,852.601,157.88694.73
Cash Retained (M)6,540.006,540.006,540.00
(-) Cash Required (M)-1,852.60-1,157.88-694.73
(=) Excess Retained (M)4,687.405,382.135,845.28
(/) Shares Outstanding (M)476.53476.53476.53
(=) Excess Retained per Share9.8411.2912.27
LTM Dividend per Share5.715.715.71
(+) Excess Retained per Share9.8411.2912.27
(=) Adjusted Dividend15.5517.0117.98
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate2.41%3.41%4.41%
Fair Value$238.29$309.48$400.86
Upside / Downside-50.06%-35.14%-15.99%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)9,263.009,579.289,906.3610,244.6010,594.4010,956.1411,284.82
Payout Ratio29.40%41.52%53.64%65.76%77.88%90.00%92.50%
Projected Dividends (M)2,723.003,977.055,313.566,736.718,250.849,860.5210,438.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate2.41%3.41%4.41%
Year 1 PV (M)3,610.143,645.393,680.64
Year 2 PV (M)4,378.374,464.294,551.04
Year 3 PV (M)5,038.925,187.975,339.93
Year 4 PV (M)5,602.105,824.136,052.69
Year 5 PV (M)6,077.376,379.936,694.42
PV of Terminal Value (M)105,503.06110,755.42116,214.92
Equity Value (M)130,209.97136,257.13142,533.65
Shares Outstanding (M)476.53476.53476.53
Fair Value$273.25$285.94$299.11
Upside / Downside-42.73%-40.07%-37.31%

High-Yield Dividend Screener

« Prev Page 17 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
SAHSonic Automotive, Inc.2.13%$1.3135.28%
AIG-PAAmerican International Group, Inc.2.12%$1.6930.01%
LANCLancaster Colony Corporation2.11%$3.8261.80%
TDACTranslational Development Acquisition Corp.2.10%$0.2279.86%
FASTFastenal Company2.09%$0.8579.50%
FDUSFidus Investment Corporation2.09%$0.4117.86%
IBOCInternational Bancshares Corporation2.09%$1.4020.70%
SMRSXALPS/Smith Short Duration Bond Investor2.09%$0.2298.81%
SSSSSuRo Capital Corp.2.09%$0.208.46%
MLRMiller Industries, Inc.2.08%$0.7830.00%
OACCOaktree Acquisition Corp. III Life Sciences2.08%$0.2261.74%
FCCOFirst Community Corporation2.07%$0.6025.08%
GNTXGentex Corporation2.07%$0.4928.42%
OACCUOaktree Acquisition Corp. III Life Sciences Unit2.07%$0.2261.74%
DLBDolby Laboratories, Inc.2.06%$1.3149.64%
APOGApogee Enterprises, Inc.2.05%$0.7737.24%
CAKEThe Cheesecake Factory Incorporated2.05%$1.0832.74%
EWBCEast West Bancorp, Inc.2.05%$2.3625.97%
ALFCenturion Acquisition Corp.2.04%$0.2251.38%
ATOAtmos Energy Corporation2.04%$3.4546.19%
OVLYOak Valley Bancorp2.04%$0.6129.73%
0HYE.LCincinnati Financial Corporation2.03%$3.2824.36%
AOSA. O. Smith Corporation2.03%$1.3936.68%
ACTEnact Holdings, Inc.2.02%$0.8018.03%
ARKOArko Corp.2.02%$0.0955.86%
KFYKorn Ferry2.02%$1.3426.97%
0H68.LAflac Incorporated2.01%$2.2028.14%
LENLennar Corporation2.01%$2.1025.46%
AVYAvery Dennison Corporation2.00%$3.6641.17%
RHLDResolute Holdings Management, Inc.2.00%$3.7422.61%
ALFUUCenturion Acquisition Corp. Unit1.99%$0.2251.38%
GNTYGuaranty Bancshares, Inc.1.99%$0.9730.69%
NCNACCO Industries, Inc.1.99%$0.9524.54%
QCOMQUALCOMM Incorporated1.99%$3.4468.67%
THGThe Hanover Insurance Group, Inc.1.98%$3.5520.46%
CNMDCONMED Corporation1.97%$0.8038.60%
FBINFortune Brands Innovations, Inc.1.97%$1.0036.69%
FEIMFrequency Electronics, Inc.1.97%$1.0046.25%
RPMRPM International Inc.1.97%$2.0437.93%
BNJBrookfield Finance Inc. 4.50% P1.96%$0.3070.51%
MTGMGIC Investment Corporation1.96%$0.5717.51%
CCSCentury Communities, Inc.1.95%$1.1516.06%
0K6F.LNetApp, Inc.1.94%$2.0735.51%
BLKBlackRock, Inc.1.94%$21.0053.94%
FNB-PEF.N.B. Corporation1.94%$0.4834.55%
0L4F.LSealed Air Corporation1.93%$0.8030.13%
AEOAmerican Eagle Outfitters, Inc.1.93%$0.5142.14%
SLGNSilgan Holdings Inc.1.93%$0.8026.98%
FSFGFirst Savings Financial Group, Inc.1.92%$0.6123.93%
GENGen Digital Inc.1.92%$0.5054.91%