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Caterpillar vs Deere: CAT and DE compared
Caterpillar is the larger company: $20.7B of revenue in its latest quarter (Q3 2026) against $12.6B for Deere (Q3 FY26). Caterpillar is growing faster (+17% against +5% a year earlier). Caterpillar is more profitable, with an operating margin of 20.4% against 14.9%.
Where the money goes: CAT and DE
Caterpillar (CAT) · Q3 2026
Caterpillar, Q3 2026: revenue $20.7B (+17% year over year), operating margin 20.4%, net earnings $3.3B, operating cash flow $4.4B. The chart follows the revenue to costs, profit and cash.
Deere (DE) · Q3 FY26
Deere, Q3 FY26: revenue $12.6B (+5% year over year), operating margin 14.9%, net earnings $1.4B, operating cash flow $2.2B. The chart follows the revenue to costs, profit and cash.
| Caterpillar (CAT) | Deere (DE) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 FY26 |
| Revenue | $20.7B | $12.6B |
| Revenue growth, Y/Y | +17% | +5% |
| Operating margin | 20.4% | 14.9% |
| Net earnings | $3.3B | $1.4B |
| Net margin | 15.9% | 10.9% |
| Operating cash flow | $4.4B | $2.2B |
| Free cash flow | $3.7B | $1.9B |
| Market value | $255.2B | $181.8B |
| P/E | 21.7× | 37.6× |
| Analysts’ mean target | $823.41 | $694.01 |
Where the revenue comes from
Caterpillar
- Sales of Machinery, Power & Energy: $19.7B (95%)
- Financial Products: $1.0B (5%)
Deere
- Net Sales: $11.0B (87%)
- Finance and Interest Income: $1.4B (11%)
- Forestry: $283M (2%)
Questions
Which is bigger, Caterpillar or Deere?
Caterpillar is the larger company: $20.7B of revenue in its latest quarter (Q3 2026) against $12.6B for Deere (Q3 FY26).
Is Caterpillar or Deere growing faster?
Caterpillar is growing faster (+17% against +5% a year earlier).
Which is more profitable, Caterpillar or Deere?
Caterpillar is more profitable, with an operating margin of 20.4% against 14.9%.
More: Caterpillar earnings · how Caterpillar makes money · Deere earnings · how Deere makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Aug 27, 2026). Fiscal quarters can end on different dates. Not investment advice.