Indef Manufacturing vs Caterpillar: Fair Value & Quality
Both stocks run through our valuation models. Here is how Indef Manufacturing (BAJAJINDEF) and Caterpillar (CAT) compare, as of Aug 17, 2026.
As of Aug 17, 2026, Fair Value Calculator sees Indef Manufacturing as the less overvalued of the two: Indef Manufacturing trades at ₹217 versus a fair value of ₹120 (-45%), while Caterpillar trades at $857 versus $308 (-64%).
Indef Manufacturing
BAJAJINDEF.NSE · INR · Industrials
-45%
upside to fair value
overvalued
Price₹217
Fair Value₹120
Quality57/100
Caterpillar
CAT · USD · Industrials
-64%
upside to fair value
overvalued
Price$857
Fair Value$308
Quality64/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Indef ManufacturingCaterpillar
Valuation
29.4×P/E (TTM)43.0×
3.88×P/S (TTM)6.11×
2.98×P/B20.27×
37.5×EV/EBITDA31.1×
—PEG2.25×
0.8%Dividend yield0.6%
₹2.00Dividend per share$6.04
Profitability
11%Net margin13%
10%Operating margin18%
9%Return on equity51%
3%Return on assets9%
Growth
28%Revenue growth (YoY)22%
—Avg. growth/yr (3Y)4.4%
—Avg. growth/yr (5Y)10.1%
Balance & size
—Debt / equity1.44×
$85MMarket cap$432B
mixedGrowth qualityhealthy
Even match: 5 to 5 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.
Indef Manufacturingof which business quality 58 · market factors 16Caterpillarof which business quality 62 · market factors 60
ProfitabilityMargins and returns on capital today
46
61
Quality GrowthAre margins and returns improving?
50
22
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
32
72
Low VolatilityCalm price path (market factor)
34
32
MomentumPrice trend over the last 3–12 months (market factor)
13
65
52W MomentumDistance to the 52-week high (market factor)
1
84
Net IssuanceBuybacks instead of dilution
81
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.
Indef Manufacturing
DCF Models₹142
Earnings-Based₹126
Multiples₹126
Asset-Based₹56.48
Growth DCF₹124
Economic Profit₹60.98
Growth Earnings₹183
19 of 20 models see the stock below the current price.
Caterpillar
DCF Models$365
Earnings-Based$151
Dividend Discount$111
Multiples$314
Asset-Based$31.01
Growth DCF$326
Economic Profit$220
Growth Earnings$361
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.
Indef Manufacturing
Bear ₹62.24Fair Value ₹120Bull ₹150
₹217 = current price (white tick)
Caterpillar
Bear $192Fair 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.
Indef Manufacturing · Industrials
Quality score57 · above median
Fair value upside-45% · below median
Caterpillar · Industrials
Quality score64 · Top 25%
Fair value upside-64% · bottom 25%
Bottom line
As of Aug 17, 2026, Fair Value Calculator sees Indef Manufacturing as the less overvalued of the two: Indef Manufacturing trades at ₹217 versus a fair value of ₹120 (-45%), while Caterpillar trades at $857 versus $308 (-64%).
Caterpillar has the higher quality score (64/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
