CAT vs. WAB: Caterpillar vs. Wabtec Stock Comparison

November 11, 2026

How do Caterpillar (CAT) and Wabtec (WAB) 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 Wabtec (WAB) are both classified in the Construction Machinery & Heavy Transportation Equipment sub-industry within the broader Machinery industry, placing them in the closest GICS peer bucket.

Company profile comparison for Caterpillar (CAT) and Wabtec (WAB)
Profile Item	CAT	WAB
Name	Caterpillar Inc.	Wabtec Corporation
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Machinery	Machinery
GICS Sub-Industry	Construction Machinery & Heavy Transportation Equipment	Construction Machinery & Heavy Transportation Equipment
Market Capitalization	255.63 billion USD	47.59 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	January 2, 1962	June 16, 1995
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CAT

WAB

GSPC

Caterpillar (CAT) vs. Wabtec (WAB), 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 Wabtec (WAB). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Caterpillar (CAT) and Wabtec (WAB)
Metric	CAT	WAB
Total Return (1Y)	6.75%	44.64%
Total Return (3Y, Annualized)	38.34%	39.37%
Total Return (5Y, Annualized)	25.28%	25.90%

Risk Profile

Drawdown History

CAT

WAB

GSPC

Caterpillar (CAT) vs. Wabtec (WAB), 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 Wabtec (WAB). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Caterpillar (CAT) and Wabtec (WAB)
Metric	CAT	WAB
Volatility (1Y, Annualized)	41.33%	27.53%
Beta (5Y)	1.65	0.91
Max Drawdown (5Y)	-47.79%	-23.55%
Avg. Volume (3M)	2.82M	890.96K

Risk-Adjusted Performance

Risk-Return Positioning

CAT and WAB 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 Wabtec (WAB)
Metric	CAT	WAB
Sharpe Ratio (1Y)	0.06	1.47
Sortino Ratio (1Y)	0.08	2.34

Profitability

ROE (TTM)

Caterpillar (CAT) at 56.14% clears its industry range for ROE, a sharper capital-efficiency signal than Wabtec (WAB) at 12.24%, which is closer to a typical peer reading.

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%

WAB

Capital Goods industry group

12.24%

Max: 40.55%
Q3: 19.29%
WAB: 12.24%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

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

Net Margin (TTM)

Caterpillar (CAT) at 15.21% retains a top-quartile share of revenue as profit, ahead of Wabtec (WAB) at 11.20%, which keeps about the industry-typical share.

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%

WAB

Capital Goods industry group

11.20%

Max: 27.47%
Q3: 12.10%
WAB: 11.20%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

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

Operating Margin (TTM)

Both Caterpillar (CAT) at 20.19% and Wabtec (WAB) at 20.22% 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%

WAB

Capital Goods industry group

20.22%

Max: 36.60%
WAB: 20.22%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

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

Profitability Metrics

Profitability metrics for Caterpillar (CAT) and Wabtec (WAB)
Metric	CAT	WAB
ROE (TTM)	56.14%	12.24%
ROA (TTM)	9.09%	6.28%
Net Margin (TTM)	15.21%	11.20%
Operating Margin (TTM)	20.19%	20.22%
Gross Margin (TTM)	29.54%	36.17%

Growth

Revenue Growth

Both Caterpillar (CAT) at 4.29% and Wabtec (WAB) at 7.51% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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

EPS Growth

Both Caterpillar (CAT) at -14.69% and Wabtec (WAB) at 13.08% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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

Growth Metrics

Growth metrics for Caterpillar (CAT) and Wabtec (WAB)
Metric	CAT	WAB
Revenue Growth (YoY)	4.29%	7.51%
Revenue Growth (3Y CAGR)	4.38%	10.12%
EPS Growth (YoY)	-14.69%	13.08%
EPS Growth (3Y CAGR)	14.17%	25.44%

Financial Strength

Current Ratio (MRQ)

Both Caterpillar (CAT) at 1.42 and Wabtec (WAB) at 1.10 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

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

WAB

Capital Goods industry group

1.10

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
WAB: 1.10
Min: 0.36

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

Debt / Equity (MRQ)

Wabtec (WAB) at 0.60 carries an industry-typical debt-to-equity mix, while Caterpillar (CAT) at 2.10 uses more debt funding than most peers.

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

WAB

Capital Goods industry group

0.60

Max: 2.33
Q3: 1.12
WAB: 0.60
Median: 0.60
Q1: 0.29
Min: 0.00

Caterpillar (CAT) vs. Wabtec (WAB): 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 Wabtec (WAB)
Metric	CAT	WAB
Current Ratio (MRQ)	1.42	1.10
Debt / Equity (MRQ)	2.10	0.60
Net Debt / EBITDA	2.25	2.28

Dividends

Dividend Yield (TTM)

Both Caterpillar (CAT) at 1.13% and Wabtec (WAB) at 0.42% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

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%

WAB

Capital Goods industry group

0.42%

Max: 2.66%
Q3: 1.14%
WAB: 0.42%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Both Caterpillar (CAT) at 24.18% and Wabtec (WAB) at 14.66% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

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%

WAB

Capital Goods industry group

14.66%

Max: 67.39%
Q3: 28.02%
WAB: 14.66%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Caterpillar (CAT) and Wabtec (WAB)
Metric	CAT	WAB
Dividend Yield (TTM)	1.13%	0.42%
Dividend Payout Ratio (TTM)	24.18%	14.66%

Valuation

P/E Ratio (TTM)

Both Caterpillar (CAT) at 21.92 and Wabtec (WAB) at 35.23 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

WAB

Capital Goods industry group

35.23

Max: 59.38
Q3: 35.92
WAB: 35.23
Median: 25.41
Q1: 19.47
Min: 3.03

Caterpillar (CAT) vs. Wabtec (WAB): 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 Wabtec (WAB) at 3.90 sits in the pricier quartile — WAB 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

WAB

Capital Goods industry group

3.90

Max: 7.54
WAB: 3.90
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

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

P/B Ratio (MRQ)

Wabtec (WAB) at 4.20 sits near its industry’s typical P/B ratio, while Caterpillar (CAT) at 11.90 prices above its benchmark range — CAT looks rich relative to book.

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

WAB

Capital Goods industry group

4.20

Max: 9.66
Q3: 5.00
WAB: 4.20
Median: 3.12
Q1: 1.81
Min: -1.08

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

Valuation Metrics

Valuation metrics for Caterpillar (CAT) and Wabtec (WAB)
Metric	CAT	WAB
P/E Ratio (TTM)	21.92	35.23
P/S Ratio (TTM)	3.29	3.90
P/B Ratio (MRQ)	11.90	4.20
Free Cash Flow Yield (TTM)	1.55%	2.60%