Caterpillar Inc


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SKU: CAT-1 Category:


Industrial giant, Caterpillar is a cyclical stock and is currently operating at the early stage of its growth cycle. The company is benefitting heavily from the revival of global manufacturing activity in the aftermath of the Covid-19 pandemic. Caterpillar’s construction equipment business is expected to perform well with the ongoing strength in residential activity in the U.S. and the heavy infrastructure spending expected under the Biden Government. The Chinese infrastructure market also holds promise for Caterpillar’s future growth. Another upside for the company is the oil and gas market which is reviving after the oil price crossed $60 per barrel. Caterpillar has its fair share of headwinds as well and the semiconductor shortage is a big one which is why the management has not provided a detailed guidance given the uncertainty with respect to servicing end-market requirements. However, we are reasonably optimistic about the company’s growth given its strong drivers and give it a ‘Hold’ recommendation with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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