Caterpillar Inc

Caterpillar manufactures bulldozers, excavators, mining trucks, and other heavy machinery for construction and mining companies worldwide. They also build diesel and natural gas engines, industrial gas turbines, power generators, and locomotives. Beyond equipment, they run a financing arm that helps customers buy and lease machines, plus provide parts, maintenance services, and technology solutions for fleet management.

Caterpillar is a 100-year-old industrial giant that makes construction and mining equipment, power generation systems, and diesel engines [Yahoo Finance]. The company is riding a massive wave of demand from data center construction — its power generation business grew 41% in Q1 2026 as tech companies race to build AI infrastructure [Yahoo Finance]. With a $63 billion order backlog (up 80% year-over-year) and record 2025 sales, Caterpillar has evolved from a traditional heavy equipment maker into a critical supplier of the physical backbone of artificial intelligence [Yahoo Finance].

Caterpillar is in exceptionally strong financial shape with record profitability and robust cash generation.