CAT vs. NXT: Caterpillar vs. Nextracker Stock Comparison

November 11, 2026

How do Caterpillar (CAT) and Nextracker (NXT) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Caterpillar (CAT) and Nextracker (NXT) both fall under the Capital Goods industry group, but CAT is classified in Machinery while NXT is classified in Electrical Equipment.

Caterpillar (CAT) has more than two decades of public-market history since January 2, 1962, whereas Nextracker (NXT) listed on February 9, 2023 and has a much shorter record to draw on.

Company profile comparison for Caterpillar (CAT) and Nextracker (NXT)
Profile Item	CAT	NXT
Name	Caterpillar Inc.	Nextpower Inc. Class A Common Stock
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Machinery	Electrical Equipment
GICS Sub-Industry	Construction Machinery & Heavy Transportation Equipment	Electrical Components & Equipment
Market Capitalization	255.63 billion USD	16.00 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	January 2, 1962	February 9, 2023
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CAT

NXT

GSPC

Caterpillar (CAT) vs. Nextracker (NXT), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Caterpillar (CAT) and Nextracker (NXT). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Caterpillar (CAT) and Nextracker (NXT). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Caterpillar (CAT) and Nextracker (NXT)
Metric	CAT	NXT
Total Return (1Y)	6.75%	0.06%
Total Return (3Y, Annualized)	38.34%	45.51%
Total Return (5Y, Annualized)	25.28%	--

Risk Profile

Drawdown History

CAT

NXT

GSPC

Caterpillar (CAT) vs. Nextracker (NXT), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Caterpillar (CAT) and Nextracker (NXT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Caterpillar (CAT) and Nextracker (NXT)
Metric	CAT	NXT
Volatility (1Y, Annualized)	41.33%	68.10%
Beta (5Y)	1.65	1.66
Max Drawdown (5Y)	-47.79%	-51.10%
Avg. Volume (3M)	2.82M	2.38M

Risk-Adjusted Performance

Risk-Return Positioning

CAT and NXT are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Caterpillar (CAT) and Nextracker (NXT)
Metric	CAT	NXT
Sharpe Ratio (1Y)	0.06	-0.06
Sortino Ratio (1Y)	0.08	-0.09

Profitability

ROE (TTM)

Both companies show strong equity returns, but Caterpillar (CAT) at 56.14% is the standout with ROE above its industry range; Nextracker (NXT) at 26.46% also sits in the top quartile.

CAT

Capital Goods industry group

56.14%

CAT: 56.14%
Max: 40.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

NXT

Capital Goods industry group

26.46%

Max: 40.55%
NXT: 26.46%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Caterpillar (CAT) at 15.21% and Nextracker (NXT) at 15.98% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

CAT

Capital Goods industry group

15.21%

Max: 27.47%
CAT: 15.21%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

NXT

Capital Goods industry group

15.98%

Max: 27.47%
NXT: 15.98%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Both Caterpillar (CAT) at 20.19% and Nextracker (NXT) at 20.06% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

CAT

Capital Goods industry group

20.19%

Max: 36.60%
CAT: 20.19%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

NXT

Capital Goods industry group

20.06%

Max: 36.60%
NXT: 20.06%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Caterpillar (CAT) and Nextracker (NXT)
Metric	CAT	NXT
ROE (TTM)	56.14%	26.46%
ROA (TTM)	9.09%	10.75%
Net Margin (TTM)	15.21%	15.98%
Operating Margin (TTM)	20.19%	20.06%
Gross Margin (TTM)	29.54%	21.84%

Growth

Revenue Growth

Nextracker (NXT) at 20.28% sits in the top revenue growth quartile, while Caterpillar (CAT) at 4.29% is closer to the peer norm — faster top-line expansion for NXT.

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Caterpillar (CAT) at -14.69% and Nextracker (NXT) at 10.66% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Caterpillar (CAT) and Nextracker (NXT)
Metric	CAT	NXT
Revenue Growth (YoY)	4.29%	20.28%
Revenue Growth (3Y CAGR)	4.38%	23.23%
EPS Growth (YoY)	-14.69%	10.66%
EPS Growth (3Y CAGR)	14.17%	476.90%

Financial Strength

Current Ratio (MRQ)

Nextracker (NXT) at 2.23 keeps current ratio within its industry’s typical mid-range, while Caterpillar (CAT) at 1.42 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for CAT.

CAT

Capital Goods industry group

1.42

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
CAT: 1.42
Min: 0.36

NXT

Capital Goods industry group

2.23

Max: 5.22
Q3: 2.95
NXT: 2.23
Median: 2.08
Q1: 1.43
Min: 0.36

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Nextracker (NXT) at 0.02 keeps leverage in the lower quartile, while Caterpillar (CAT) at 2.10 sits in the higher-leverage quartile.

CAT

Capital Goods industry group

2.10

Max: 2.33
CAT: 2.10
Q3: 1.12
Median: 0.60
Q1: 0.29
Min: 0.00

NXT

Capital Goods industry group

0.02

Max: 2.33
Q3: 1.12
Median: 0.60
Q1: 0.29
NXT: 0.02
Min: 0.00

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Caterpillar (CAT) and Nextracker (NXT)
Metric	CAT	NXT
Current Ratio (MRQ)	1.42	2.23
Debt / Equity (MRQ)	2.10	0.02
Net Debt / EBITDA	2.25	-1.30

Dividends

Dividend Yield (TTM)

Nextracker (NXT) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Caterpillar (CAT) reports a yield of 1.13%, ranking against industry peers normally.

CAT

Capital Goods industry group

1.13%

Max: 2.66%
Q3: 1.14%
CAT: 1.13%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

NXT

Capital Goods industry group

0.00%

Max: 2.66%
Q3: 1.14%
Median: 0.24%
NXT: 0.00%
Q1: 0.00%
Min: 0.00%

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Nextracker (NXT) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Caterpillar (CAT) reports a payout of 24.18%, ranking against industry peers normally.

CAT

Capital Goods industry group

24.18%

Max: 67.39%
Q3: 28.02%
CAT: 24.18%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

NXT

Capital Goods industry group

0.00%

Max: 67.39%
Q3: 28.02%
Median: 6.86%
NXT: 0.00%
Q1: 0.00%
Min: 0.00%

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Caterpillar (CAT) and Nextracker (NXT)
Metric	CAT	NXT
Dividend Yield (TTM)	1.13%	0.00%
Dividend Payout Ratio (TTM)	24.18%	0.00%

Valuation

P/E Ratio (TTM)

Both Caterpillar (CAT) at 21.92 and Nextracker (NXT) at 26.42 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

CAT

Capital Goods industry group

21.92

Max: 59.38
Q3: 35.92
Median: 25.41
CAT: 21.92
Q1: 19.47
Min: 3.03

NXT

Capital Goods industry group

26.42

Max: 59.38
Q3: 35.92
NXT: 26.42
Median: 25.41
Q1: 19.47
Min: 3.03

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

Caterpillar (CAT) at 3.29 is priced about in line with its industry on P/S ratio, while Nextracker (NXT) at 4.17 sits in the pricier quartile — NXT costs more per dollar of sales.

CAT

Capital Goods industry group

3.29

Max: 7.54
Q3: 3.76
CAT: 3.29
Median: 2.15
Q1: 1.03
Min: 0.03

NXT

Capital Goods industry group

4.17

Max: 7.54
NXT: 4.17
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Nextracker (NXT) at 5.98 sits in the upper P/B ratio quartile, and Caterpillar (CAT) at 11.90 prices even higher, above its industry range.

CAT

Capital Goods industry group

11.90

CAT: 11.90
Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

NXT

Capital Goods industry group

5.98

Max: 9.66
NXT: 5.98
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

Caterpillar (CAT) vs. Nextracker (NXT): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Caterpillar (CAT) and Nextracker (NXT)
Metric	CAT	NXT
P/E Ratio (TTM)	21.92	26.42
P/S Ratio (TTM)	3.29	4.17
P/B Ratio (MRQ)	11.90	5.98
Free Cash Flow Yield (TTM)	1.55%	2.32%