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Caterpillar vs Manitowoc: CAT and MTW compared
Caterpillar is the larger company: $20.7B of revenue in its latest quarter (Q3 2026) against $614M for Manitowoc (Q3 2026). Caterpillar is growing faster (+17% against +11% a year earlier). Caterpillar is more profitable, with an operating margin of 20.4% against 5.2%.
Where the money goes: CAT and MTW
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.
Manitowoc (MTW) · Q3 2026
Manitowoc, Q3 2026: revenue $614M (+11% year over year), operating margin 5.2%, net earnings $11.0M, operating cash flow −$33.2M. The chart follows the revenue to costs, profit and cash.
| Caterpillar (CAT) | Manitowoc (MTW) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $20.7B | $614M |
| Revenue growth, Y/Y | +17% | +11% |
| Gross margin | — | 19.8% |
| Operating margin | 20.4% | 5.2% |
| Net earnings | $3.3B | $11.0M |
| Net margin | 15.9% | 1.8% |
| Operating cash flow | $4.4B | −$33.2M |
| Free cash flow | $3.7B | — |
| Market value | $255.2B | $827M |
| P/E | 21.7× | 31.1× |
| Analysts’ mean target | $823.41 | $15.50 |
Where the revenue comes from
Caterpillar
- Sales of Machinery, Power & Energy: $19.7B (95%)
- Financial Products: $1.0B (5%)
Manitowoc
- New Machine Sales: $440M (72%)
- Non New Machine Sales: $174M (28%)
Questions
Which is bigger, Caterpillar or Manitowoc?
Caterpillar is the larger company: $20.7B of revenue in its latest quarter (Q3 2026) against $614M for Manitowoc (Q3 2026).
Is Caterpillar or Manitowoc growing faster?
Caterpillar is growing faster (+17% against +11% a year earlier).
Which is more profitable, Caterpillar or Manitowoc?
Caterpillar is more profitable, with an operating margin of 20.4% against 5.2%.
More: Caterpillar earnings · how Caterpillar makes money · Manitowoc earnings · how Manitowoc makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.