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- U.S.A. - Canada - U.K. - France - Germany - Japan - Hong-Kong	Caterpillar - - DOW JONES 30 - Construction & Farm Machinery & Heavy Trucks Caterpillar Inc. (Caterpillar) operates in three principal lines of business: Machinery, Engines and Financial Products. Machinery deals with the design, manufacture, marketing and sales of construction, mining and forestry machinery. MARGIN OF SAFETY of Caterpillar : (negative) The Margin of Safety of Caterpillar is not OK (<50%). How is the Margin of Safety calculated ? QUALITY : Conservative Investors : Enterprising Investors : What are the Stars ? FORUMS VISIT Caterpillar FORUM ! Alerts : STOP at : 27.47 USD on : 3/18/2009 What are the alerts ? Price over 1 year : PRICE, INTRINSIC VALUE & MARGIN OF SAFETY based on GRAHAM's FORMULA What is the Graham's Formula ? Caterpillar price is : (as of 5/21/2009) USD Current Earnings per Share (2009 est.) are : USD Estimated Long Term Growth (% per Year) is : % INTRINSIC VALUE = 1.20 x (8.5 + 2 x 6.18) = 25.03 USD MARGIN OF SAFETY = (negative) (not OK) How is Long Term Growth estimated for Caterpillar ? Historical analysis for Caterpillar - See detail QUALITATIVE FILTERS FOR Caterpillar What are the Stars ? DEFENSIVE ENTERPRISING COMPANY SIZE (MKT CAP. Mls $) Very Large 20,646 mls.$ OK The company's Market cap. is above 5000 millions dollars - FINANCIAL CONDITION Current Ratio 1.23 The current ratio is under 2 The current ratio is under 1.5 LT Debt/Net Curr. Assets 3.88 The LTdebt/current assets ratio is above 1 The LTdebt/current assets ratio is above 1.1 EARNINGS STABILITY Losses / 10 - 5 Years 0 / 0 No losses in the past ten years No losses in the past five years DIVIDENDS Years of Dividends 15 15 years of dividend in the past 15 years Current dividends paid EARNINGS GROWTH Growth 10-5 Years 141% / -23% Total Earnings growth above 33% for the past 10 years Last year earnings under earnings 5 years ago VALUATION P.E. x P/Book 100.40 P.E. x P/Book is above 22.5 P/Book is above 1.20 P.E. 29.6 NO PE is above 15 - P/Book 3.39 NO P/Book is above 1.5 NO P/Book is above 1.2 Caterpillar - Competitors for Construction & Farm Machinery & Heavy Trucks   STOCK QUALITY Conservative Investors MARGIN OF SAFETY Long Term Growth Price / Earnings   Hyundai Hvy Ind - Korea Kospi50 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 509.20 % Long Term Growth : 17.47 % Price / Earnings : 7.1 x 228000 / 31975.85 = Daewoo Shipbuild - Korea Kospi50 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 408.30 % Long Term Growth : 11.88 % Price / Earnings : 6.3 x 22000 / 3467.18 = Samsung Heavy In - Korea Kospi50 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 388.63 % Long Term Growth : 17.00 % Price / Earnings : 8.7 x 29950 / 3444.00 = Sembcorp Marine - Singapore Strait-Times Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 209.29 % Long Term Growth : 12.70 % Price / Earnings : 11.0 x 2.63 / 0.24 = Mitsui Eng & Shp - Tokyo Nikkei 225 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 185.22 % Long Term Growth : 18.66 % Price / Earnings : 16.1 x 223 / 13.88 = Cosco Corp - Singapore Strait-Times Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 167.95 % Long Term Growth : 13.56 % Price / Earnings : 13.2 x 1.19 / 0.09 = Exel Industries - France Mid&Small 190 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 163.80 % Long Term Growth : 6.94 % Price / Earnings : 8.5 x 25.03 / 2.95 = Tata Motors - India Nifty50 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 132.07 % Long Term Growth : 13.74 % Price / Earnings : 15.5 x 345.75 / 22.30 = Toromont Indus - Canada SP/TSX Comp. Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 116.69 % Long Term Growth : 9.29 % Price / Earnings : 12.5 x 23.24 / 1.86 = KUBOTA - Tokyo Nikkei 225 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 82.98 % Long Term Growth : 15.74 % Price / Earnings : 21.9 x 687 / 31.44 = MAN - Germany DAX 30 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 80.48 % Long Term Growth : 10.51 % Price / Earnings : 16.4 x 44.34 / 2.71 = Deere - U.S.A. SP 500 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 79.61 % Long Term Growth : 10.39 % Price / Earnings : 16.3 x 41.57 / 2.55 = Cummins - U.S.A. SP 500 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 35.64 % Long Term Growth : 12.55 % Price / Earnings : 24.8 x 32.21 / 1.30 = FreightCar Amer - U.S.A. (no index) Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 10.54 % Long Term Growth : 17.00 % Price / Earnings : 38.4 x 16.53 / 0.43 = KOMATSU - Tokyo Nikkei 225 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 8.77 % Long Term Growth : 16.01 % Price / Earnings : 37.2 x 1326 / 35.60 = HINO MOTORS - Tokyo Nikkei 225 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 0.00 % Long Term Growth : 5.89 % Price / Earnings : -8.3 x 292 / -35.16 = Diesel Engine - China Shangaï-B Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 4.4 x 0.53 / 0.12 = Zhenhua Heavy - China Shangaï-B Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 1.3 x 1.05 / 0.79 = Faiveley SA - France Mid&Small 190 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 14.5 x 55.97 / 3.87 = Joy Global - U.S.A. Nasdaq 100 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 8.1 x 29.21 / 3.60 = Manitou BF - France Mid&Small 190 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : -6.9 x 7.68 / -1.11 = Haulotte Group - France Mid&Small 190 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : -6.4 x 4.92 / -0.77 = Terex - U.S.A. SP 500 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : 0.00 % Long Term Growth : 9.08 % Price / Earnings : -22.2 x 14.87 / -0.67 = Caterpillar - U.S.A. DOW JONES 30 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : -29.54 % Long Term Growth : 6.18 % Price / Earnings : 29.6 x 35.54 / 1.20 = Paccar Inc - U.S.A. Nasdaq 100 Construction & Farm Machinery & Heavy Trucks MARGIN OF SAFETY : -57.37 % Long Term Growth : 5.84 % Price / Earnings : 47.3 x 28.39 / 0.60 =