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STOCK COMPARISON

Ashok Leyland vs Caterpillar: Fair Value & Quality

Both stocks run through our valuation models. Here is how Ashok Leyland (ASHOKLEY) and Caterpillar (CAT) compare, as of Aug 8, 2026.

As of Aug 8, 2026, Fair Value Calculator sees Ashok Leyland as the less overvalued of the two: Ashok Leyland trades at ₹177 versus a fair value of ₹124 (-30%), while Caterpillar trades at $857 versus $308 (-64%).
Ashok Leyland
ASHOKLEY.NSE · INR · Industrials
-30%
upside to fair value
overvalued
Price₹177
Fair Value₹124
Quality49/100
Caterpillar
CAT · USD · Industrials
-64%
upside to fair value
overvalued
Price$857
Fair Value$308
Quality65/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Ashok LeylandCaterpillar
Valuation
26.6×P/E (TTM)47.2×
1.64×P/S (TTM)6.11×
6.50×P/B20.27×
10.7×EV/EBITDA31.1×
PEG2.25×
2.2%Dividend yield0.6%
₹3.50Dividend per share$6.04
Profitability
6%Net margin13%
17%Operating margin18%
22%Return on equity51%
7%Return on assets9%
Growth
17%Revenue growth (YoY)22%
10.6%Avg. growth/yr (3Y)4.4%
23.7%Avg. growth/yr (5Y)10.1%
Balance & size
3.23×Debt / equity1.44×
$10BMarket cap$432B
expensiveGrowth qualityhealthy

Ashok Leyland leads: 7 to 6 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Ashok Leylandof which business quality 35 · market factors 66 Caterpillarof which business quality 62 · market factors 63
ProfitabilityMargins and returns on capital today
46
61
Quality GrowthAre margins and returns improving?
52
22
CashflowEarnings quality: real cash, not paper profit
0
68
Fin. StrengthBalance sheet, leverage, solvency risk
20
51
InvestmentDisciplined investing over empire-building
30
72
Low VolatilityCalm price path (market factor)
76
32
MomentumPrice trend over the last 3–12 months (market factor)
55
72
52W MomentumDistance to the 52-week high (market factor)
76
84
Net IssuanceBuybacks instead of dilution
83
100

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Ashok Leyland

DCF Models₹16.23
Earnings-Based₹103
Dividend Discount₹59.69
Multiples₹148
Asset-Based₹16.24
Economic Profit₹125
Growth Earnings₹115

12 of 17 models see the stock below the current price.

Caterpillar

DCF Models$360
Earnings-Based$151
Dividend Discount$111
Multiples$331
Asset-Based$31.01
Growth DCF$347
Economic Profit$220
Growth Earnings$345

26 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Ashok Leyland
Bear ₹82.61Fair Value ₹124Bull ₹155
₹177 = current price (white tick)
Caterpillar
Bear $196Fair Value $308Bull $403
$857 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Ashok Leyland · Industrials

Quality score49 · below median
Fair value upside-30% · below median

Caterpillar · Industrials

Quality score65 · Top 25%
Fair value upside-64% · bottom 25%

Bottom line

As of Aug 8, 2026, Fair Value Calculator sees Ashok Leyland as the less overvalued of the two: Ashok Leyland trades at ₹177 versus a fair value of ₹124 (-30%), while Caterpillar trades at $857 versus $308 (-64%).

Caterpillar has the higher quality score (65/100).

See the full analysis →

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.