AAON vs CAT: Which Is the Better Dividend Stock?
As of Oct 18, 2026, CAT (Caterpillar Inc.) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. CAT offers the higher yield at 0.89%, CAT has the higher dividend-safety score, and AAON looks like the better value (its fair-value estimate is 33% below its share price).
Key facts: AAON vs CAT
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, Caterpillar Inc. (CAT) has the higher forward dividend yield at 0.89%, versus 0.54% for AAON, Inc. (AAON).
- As of Oct 18, 2026, SmarterDividends grades AAON's dividend safety C (65/100) and CAT's A (92/100).
- By SmarterDividends' count as of Oct 18, 2026, AAON has raised its dividend for 1 consecutive years and CAT for 32.
- As of Oct 18, 2026, AAON pays out 21% of its earnings as dividends and CAT pays out 26%.
- As of Oct 18, 2026, AAON's fair-value estimate is 33% below its share price and CAT's fair-value estimate is 48% below its share price, so AAON looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "AAON vs CAT: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/aaon-vs-cat
| Metric | AAON | CAT |
|---|---|---|
| Forward yield | 0.54% | 0.89% |
| Annual dividend | $0.40 | $6.52 |
| Payout ratio | 21% | 26% |
| Years of growth | 1 yr | 32 yr |
| 5-yr dividend growth | -4.6% | 7.2% |
| 5-yr total return | 42% | 278% |
| Dividend safety score | 65 (C) | 92 (A) |
| Fair value estimate | $49.64 | $377.48 |
| Upside to fair value | -33% | -48% |
| Frequency | quarterly | quarterly |
| Market cap | $6.1B | $335.9B |
| P/E ratio | 38.8 | 31.5 |
Higher yield
CAT
0.89%
Safer dividend
CAT
Grade A
Faster growth
CAT
7.2%
Better value
AAON
-33% upside
AAON vs CAT — FAQ
Is AAON or CAT a better dividend stock?
On the data, CAT wins more head-to-head categories (6 vs 2). CAT offers the higher yield (0.89%), while CAT has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, AAON or CAT?
CAT has the higher forward dividend yield at 0.89%, versus 0.54% for AAON.
Is AAON or CAT safer?
CAT has the higher dividend-safety score (92/100 vs 65/100), reflecting stronger payout coverage and dividend-growth history.
Is AAON or CAT better value right now?
As of Oct 18, 2026, AAON looks like the better value: its fair-value estimate is 33% below its share price (overvalued). For CAT, its fair-value estimate is 48% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.