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Intrinsic value of Caterpillar Inc. (CAT)

Previous Close$197.82
Intrinsic Value
Upside potential
Previous Close
$197.82
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
106,012

Based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %22.1NaN
Revenue, $50984NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m44106NaN
Operating income, $m6878NaN
EBITDA, $m9230NaN
Interest expense (income), $mNaN
Earnings before tax, $m8231NaN
Tax expense, $m1742NaN
Net income, $m6489NaN

BALANCE SHEET

Cash and short-term investments, $m9254NaN
Total assets, $m82793NaN
Adjusted assets (=assets-cash), $m73539NaN
Average production assets, $m20394NaN
Working capital, $m13608NaN
Total debt, $m38431NaN
Total liabilities, $m66309NaN
Total equity, $m16484NaN
Debt-to-equity ratio2.331NaN
Adjusted equity ratio0.260NaN

CASH FLOW

Net income, $m6489NaN
Depreciation, amort., depletion, $m2352NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m7198NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-1207NaN
Free cash flow, $m8405NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m13608
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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