For most investors, how much a stock's price changes over time is important. Not only can it impact your investment portfolio, but it can also help you compare investment results across sectors and industries.

FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks.

What if you'd invested in Caterpillar (CAT Quick QuoteCAT - Free Report) ten years ago? It may not have been easy to hold on to CAT for all that time, but if you did, how much would your investment be worth today?

Caterpillar's Business In-Depth

With that in mind, let's take a look at Caterpillar's main business drivers.

Caterpillar, known for its iconic yellow machines, is the largest global construction and mining equipment manufacturer. Given that it serves a gamut of sectors - infrastructure, construction, mining, oil & gas and transportation, the company is considered a bellwether of the global economy.

Since 1925, Caterpillar’s product portfolio has evolved and boasts 20 brands and generated revenues of $67.6 billion in 2025. It has more than 4 million products with an extensive dealer network of 156 dealers spanning 190 countries.

Caterpillar started using telematics in the 1990s and reached its target of 1 million connected assets in 2019. It currently has more than 1.5 million connected assets. The combination of innovation, and cutting-edge technology, coupled with the formidable reputation, set Caterpillar apart from its peers.

Caterpillar is the 24th largest company on the S&P 500 Index, with a market capitalization of around $389 billion. It holds the second position in the Dow Jones Industrial Average, with a 10.50% weight. It is also a member of the S&P 500 Dividend Aristocrat Index.

The Irving, TX-based company has six operating segments.

Machinery, Power & Energy (MP&E) (around 95% of total revenues in 2025) includes the Construction Industries segment, which manufactures machinery utilized in infrastructure, forestry and building construction.

The Resource Industries segment caters to customers using machinery in mining, quarry and aggregates, heavy construction, waste and material handling applications.

The Power & Energy segment supports customers in oil and gas, power generation, marine, rail and industrial applications.

All Other Segments primarily comprise activities such as re-manufacturing CAT engines and components and re-manufacturing services for other companies and product management, development, manufacturing, marketing and product support.

Financial Products Segment (5% of total revenues in 2025) provides retail and wholesale financing alternatives for Caterpillar products.

Bottom Line

Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. So, if you had invested in Caterpillar a decade ago, you're probably feeling pretty good about your investment today.

A $1000 investment made in April 2016 would be worth $10,607.64, or a 960.76% gain, as of April 27, 2026, according to our calculations. Investors should note that this return excludes dividends but includes price increases.

Compare this to the S&P 500's rally of 242.57% and gold's return of 265.00% over the same time frame.

Looking ahead, analysts are expecting more upside for CAT.

Caterpillar continues to post revenue growth, driven by higher volumes across all segments. The company returned to earnings growth in the fourth quarter of 2025 (albeit a modest 0.4%) after five quarters of declines. This a notable achievement given the ongoing tariff headwinds. This is expected to persist into 2026, with management projecting a $2.6 billion impact. A record backlog of $51.2 billion should support future sales. The Construction Industries segment stands to benefit from rising construction activity in the United States and globally, while Resource Industries will gain from steady commodity demand. In Power & Energy, sustainability initiatives and data-center investments are driving demand. Caterpillar's focus on building aftermarket parts and service-related revenues (which generate high margins) will aid growth.

Over the past four weeks, shares have rallied 19.47%, and there have been 6 higher earnings estimate revisions in the past two months for fiscal 2026 compared to none lower. The consensus estimate has moved up as well.