Caterpillar vs. Corning: A Tale of Two Industrial Giants

Caterpillar and Corning are two iconic industrial stocks that have been making headlines in recent years. Caterpillar is a global leader in construction and mining equipment, while Corning specializes in materials science, particularly glass and optical fiber.

According to their latest annual reports, Caterpillar generated nearly $67.6 billion in revenue for FY 2025, representing growth of roughly 4.3% compared to the previous fiscal year. The company's net income was approximately $8.9 billion, indicating a healthy net margin of roughly 13.1%

Corning, on the other hand, reported nearly $15.6 billion in revenue for FY 2025, representing growth of roughly 19.1% from the previous fiscal year. The company's net income was approximately $1.6 billion, resulting in a net margin of roughly 10.2%

When it comes to valuation, Caterpillar appears more attractive than Corning based on its lower Forward P/E and P/S ratio. However, both stocks have lofty prices, with CAT trading at a price-to-sales (P/S) ratio of 5.1x, significantly above its five-year average P/S of 2.9x.