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Caterpillar (CAT)

Since 1925, Caterpillar Inc. has been helping our customers build a better world - making sustainable progress possible and driving positive change on every continent. With 2019 sales and revenues of $53.8 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Services offered throughout the product life cycle, cutting-edge technology and decades of product expertise set Caterpillar apart, providing exceptional value to help our customers succeed. The company principally operates through three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and provides financing and related services through its Financial Products segment.

Company profile

Ticker
CAT
Exchange
Website
CEO
donald Umpleby
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Anchor Coupling Inc. • Asia Power Systems (Tianjin) Ltd. • Banco Caterpillar S.A. • Bucyrus Australia • Bucyrus Europe Holdings, Ltd. • Bucyrus Europe Limited • Bucyrus International (Peru) S.A. • Bucyrus Mining Australia • Bucyrus Mining China LLC • Bucyrus UK Limited ...
IRS number
370602744

CAT stock data

Calendar

3 Aug 22
9 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 6.02B 6.02B 6.02B 6.02B 6.02B 6.02B
Cash burn (monthly) 169.67M 401.58M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 227.71M 538.97M n/a n/a n/a n/a
Cash remaining 5.8B 5.48B n/a n/a n/a n/a
Runway (months of cash) 34.2 13.7 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
26 Jul 22 Denise C Johnson Phantom Stock Units Common Stock Grant Acquire A No No 181.23 49 8.88K 25,225
26 Jul 22 Joseph E Creed Phantom Stock Units Common Stock Grant Acquire A No No 181.23 39 7.07K 6,415
30 Jun 22 Susan C Schwab Phantom Stock Units Common Stock Grant Acquire A No No 179.63 209 37.54K 16,930
30 Jun 22 David L Calhoun Phantom Stock Units Common Stock Grant Acquire A No No 179.63 306 54.97K 19,757
24 Jun 22 Denise C Johnson Phantom Stock Units Common Stock Grant Acquire A No No 185.49 48 8.9K 24,022
68.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 2108 2101 +0.3%
Opened positions 170 322 -47.2%
Closed positions 163 126 +29.4%
Increased positions 924 824 +12.1%
Reduced positions 692 615 +12.5%
13F shares Current Prev Q Change
Total value 80.54B 74.62B +7.9%
Total shares 362.26M 360.94M +0.4%
Total puts 8.66M 9.43M -8.1%
Total calls 7.48M 6.91M +8.2%
Total put/call ratio 1.2 1.4 -15.1%
Largest owners Shares Value Change
Vanguard 48.22M $10.75B +1.4%
STT State Street 40.81M $9.09B -0.1%
BLK Blackrock 37.49M $8.35B +2.7%
Capital World Investors 20.12M $4.48B +51.7%
State Farm Mutual Automobile Insurance 17.76M $3.96B 0.0%
Geode Capital Management 8.78M $1.95B +1.9%
NTRS Northern Trust 7.36M $1.64B -1.0%
Bill & Melinda Gates Foundation Trust 7.35M $1.64B -24.1%
Fisher Asset Management 7.27M $1.62B +3.8%
FMR 6.24M $1.39B +49.4%
Largest transactions Shares Bought/sold Change
Capital World Investors 20.12M +6.86M +51.7%
Norges Bank 0 -5.34M EXIT
Bill & Melinda Gates Foundation Trust 7.35M -2.33M -24.1%
FMR 6.24M +2.06M +49.4%
Ontario Teachers Pension Plan Board 1.94M +1.94M NEW
IVZ Invesco 3.43M -1.43M -29.4%
Two Sigma Advisers 321.3K -1.42M -81.5%
Altshuler Shaham 1.34M +1.34M NEW
BLK Blackrock 37.49M +992.61K +2.7%
D. E. Shaw & Co. 310.42K -917.35K -74.7%

Financial report summary

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Risks
  • RISKS RELATED TO THE COVID-19 PANDEMIC
  • Our business and the industries we serve are highly sensitive to global and regional economic conditions.
  • Commodity price changes, material price increases, fluctuations in demand for our products and services, significant disruptions to our supply chains or significant shortages of labor and material may adversely impact our financial results or our ability to meet commitments to customers.
  • Our global operations are exposed to political and economic risks, commercial instability and events beyond our control in the countries in which we operate.
  • The success of our business depends on our ability to develop, produce and market quality products that meet our customers’ needs.
  • We operate in a highly competitive environment, which could adversely affect our sales and pricing.
  • Increased information technology security threats and more sophisticated computer crime pose a risk to our systems, networks, products and services.
  • Our business is subject to the inventory management decisions and sourcing practices of our dealers and our OEM customers.
  • We may not realize all of the anticipated benefits of our acquisitions, joint ventures or divestitures, or these benefits may take longer to realize than expected.
  • Union disputes or other labor matters could adversely affect our operations and financial results.
  • Unexpected events may increase our cost of doing business or disrupt our operations.
  • Disruptions or volatility in global financial markets could limit our sources of liquidity, or the liquidity of our customers, dealers and suppliers.
  • Failure to maintain our credit ratings would increase our cost of borrowing and could adversely affect our cost of funds, liquidity, competitive position and access to capital markets.
  • Our Financial Products segment is subject to risks associated with the financial services industry.
  • Changes in interest rates or market liquidity conditions could adversely affect Cat Financial's and our earnings and/or cash flow.
  • An increase in delinquencies, repossessions or net losses of Cat Financial customers could adversely affect its results.
  • Currency exchange rate fluctuations affect our results of operations.
  • Restrictive covenants in our debt agreements could limit our financial and operating flexibility.
  • Sustained increases in funding obligations under our pension plans may impair our liquidity or financial condition.
  • Our global operations are subject to a wide-range of trade and anti-corruption laws and regulations.
  • International trade policies may impact demand for our products and our competitive position.
  • We may incur additional tax expense or become subject to additional tax exposure.
  • Costs associated with lawsuits or investigations or adverse rulings in enforcement or other legal proceedings may have an adverse effect on our results of operations.
  • New regulations or changes in financial services regulation could adversely impact Caterpillar and Cat Financial.
  • We are subject to stringent environmental laws and regulations that impose significant compliance costs.
  • The Company’s amended and restated bylaws provide that the Court of Chancery of the State of Delaware will be the exclusive forum for certain legal actions between the Company and its shareholders, which could discourage claims or limit the ability of the Company’s shareholders to bring a claim in a judicial forum viewed by the shareholders as more favorable for disputes with the Company or the Company’s directors, officers or other employees.
Management Discussion
  • Total sales and revenues for 2021 were $50.971 billion, an increase of $9.223 billion, or 22 percent, compared with $41.748 billion in 2020. The increase was primarily due to higher sales volume, driven by higher end-user demand for equipment and services and the impact from changes in dealer inventories, along with favorable price realization. Dealers decreased their inventories about $2.9 billion in 2020, compared to a decrease of about $100 million in 2021.
  • Sales were higher across all regions and in the three primary segments.
  • North America sales increased 23 percent driven by higher end-user demand for equipment and services, the impact from changes in dealer inventories and favorable price realization. Dealers decreased inventories more during 2020 than during 2021.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
7th grade Avg
New words: August, electrified, forestry, half, high, inflationary, powertrain, weakening
Removed: continued, economy, growing, improved, paragraph, residential