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Is Caterpillar Set to Transform On-Site Energy for Data Centers?

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Key Takeaways

  • CAT and Vertiv will develop integrated on-site energy systems to enhance data center power and cooling.
  • Vertiv adds modular power and cooling solutions, while Caterpillar supplies scalable generation and CCHP.
  • Partnership aims to capitalize on the surging need for on-site energy systems.

Caterpillar Inc. (CAT - Free Report) and Vertiv (VRT - Free Report) have entered into an agreement to develop advanced energy optimization solutions for data centers. This collaboration focuses on integrating Vertiv's power distribution and cooling portfolio with Caterpillar’s know-how in power generation and CCHP (Combined Cooling, Heat and Power). 

This partnership aims to capitalize on the surging need for on-site energy systems that deliver reliable, efficient power and cooling. Caterpillar and Vertiv will deliver pre-designed architectures that simplify deployment, shorten time-to-power and enhance data center performance. 

Caterpillar and its subsidiary Solar Turbines will supply power generation solutions, such as natural gas turbines and reciprocating engines that will deliver dependable, scalable electric power and thermal energy for CCHP. Vertiv offers a complete portfolio of power and cooling solutions and services, packaged as modular, pre-designed blocks, to shorten design cycles and standardize deployment. 

Over the years, Vertiv has carved a niche as a specialist in critical digital infrastructure. The company provides integrated solutions spanning power management, thermal management and IT management systems. 

With AI-driven workload surging day by day, the need for robust, scalable power and cooling infrastructure has intensified. The Caterpillar and Vertiv collaboration will address the demand for on-site energy solutions and offer a coordinated, customer-first approach to solution design and implementation.

In August, Caterpillar entered into a long-term strategic collaboration with Hunt Energy Company to meet the surging power needs of data centers. With the sector demanding uninterrupted or “always on” energy, the partnership aims to deliver scalable, efficient and highly reliable solutions tailored for data center operations. The partnership brings together more than 190 years of combined industry experience, leveraging Hunt’s proven expertise in energy infrastructure and Caterpillar’s leadership in power systems.

Caterpillar’s diverse portfolio in power solutions includes natural gas and diesel generation equipment, gas turbines, switchgear, controls, aftertreatment and engineering design services. CAT will also provide leading-edge monitoring and servicing capabilities to ensure uninterrupted power delivery, with or without a connection to the power grid.

Another company which stands to benefit from the rapid expansion of AI data centers is Eaton Corporation plc (ETN - Free Report) . Eaton is a diversified power management company and a global technology leader in electrical components and systems.

Eaton has invested more than $8 billion in transformative portfolio management and will be able to focus on the remaining businesses that will allow it to further improve earnings in the long run. Eaton completed the acquisition of Fibrebond for $1.4 billion, enhancing its ability to serve data center, industrial, utility and communications customers.

Caterpillar's Price Performance, Valuation & Estimates

CAT shares have gained 50.7% so far this year compared  with the industry’s 15.2% growth. 

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Caterpillar is currently trading at a forward 12-month price/earnings (P/E) ratio of 25.96X compared with the industry average of 24.75X.

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The Zacks Consensus Estimate for CAT’s 2025 earnings indicates a year-over-year decline of 16%.  The earnings estimate for 2026 indicates 18.8% growth. Both the earnings estimates for Caterpillar for 2025 and 2026 have moved up, as shown in the chart below.

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Caterpillar stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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