# If You'd Put $1K Into CAT a Decade Ago, Here's What It'd Be Worth Now

A $1,000 investment in Caterpillar back in November 2015? That would've turned into $7,737 by late 2024—a 673% gain. Not bad when the S&P 500 only returned 216% over the same stretch.

Why the outperformance? CAT isn't just about bulldozers. As the world's largest construction and mining equipment maker, it's basically a proxy for global infrastructure demand. The company now has 1.5M+ connected assets, 20 brands, and $65B in annual revenue spanning construction, mining, energy, and transportation.

Here's what's supporting the bullish case: CAT just posted QoQ revenue growth after six quarters of declines, thanks to volume gains across all segments. The backlog hit a record $39.9B. Analysts are revising earnings estimates up for 2025 (8 upgrades vs. zero downgrades).

The catch? Tariffs are hitting margins—management's guiding for $1.6-1.75B impact this year. But aftermarket parts and services (high-margin biz) plus strong commodity/construction demand globally should offset.

Stock's up 5.3% in the past month. If you're hunting for industrial exposure, CAT's setup looks pretty tight right now.