CAT vs CMI
Caterpillar (CAT) and Cummins (CMI) compared side by side. Caterpillar (CAT) is larger, with a market cap of $315.8B versus $71.2B for Cummins, about 4.4 times the size. On trailing earnings, CMI is cheaper at 26.4x versus 29.6x for CAT.
Head to head
| Metric | CAT | CMI |
|---|---|---|
| Market cap | $315.8B | $71.2B |
| P/E (TTM) | 29.6x | 26.4x |
| Forward P/E | 21.1x | 14.9x |
| Revenue (TTM) | $74.7B | $34.7B |
| Revenue growth | 24.0% | 9.4% |
| Gross margin | 29.7% | 25.8% |
| Operating margin | 22.2% | 11.9% |
| Free cash flow | $9.0B | $3.4B |
| Dividend yield | 0.95% | 1.70% |
| 1-year return | +32.8% | +25.7% |
| 5-year return (annual) | +30.0% | +19.2% |
| Max drawdown | -73% | -76% |
| FI Handbook grade | B- | B- |
Highlighted: the stronger figure on metrics where higher or lower is clearly better.
Growth of $10,000 (5 years, price only)
CAT vs CMI FAQ
Which is bigger, CAT or CMI?
Caterpillar (CAT) is larger, with a market cap of $315.8B versus $71.2B for Cummins, about 4.4 times the size.
Is CAT or CMI cheaper?
On trailing earnings, CMI is cheaper at 26.4x versus 29.6x for CAT. A lower P/E can reflect slower expected growth, so compare growth and margins too.
Which stock performed better over the past year, CAT or CMI?
CAT returned +32.8% over the past year including dividends, versus +25.7% for CMI, through October 23, 2026.
Which pays a higher dividend, CAT or CMI?
CMI yields 1.70% versus 0.95% for CAT.
Full pages: Caterpillar · Cummins