CAT vs MMM: Which Is the Better Dividend Stock?
As of September 2026, CAT (Caterpillar Inc.) screens as the stronger dividend stock, winning 7 of 8 head-to-head metrics. MMM offers the higher yield at 1.89%, CAT has the higher dividend-safety score, and CAT trades at the larger discount to fair value (-40%).
| Metric | CAT | MMM |
|---|---|---|
| Forward yield | 0.80% | 1.89% |
| Annual dividend | $6.52 | $3.12 |
| Payout ratio | 26% | 54% |
| Years of growth | 32 yr | 1 yr |
| 5-yr dividend growth | 7.2% | -9.9% |
| 5-yr total return | 326% | 12% |
| Dividend safety score | 92 (A) | 65 (C) |
| Fair value estimate | $493.16 | $77.31 |
| Upside to fair value | -40% | -53% |
| Frequency | quarterly | quarterly |
| Market cap | $376.3B | $85.1B |
| P/E ratio | 35.2 | 29.3 |
Higher yield
MMM
1.89%
Safer dividend
CAT
Grade A
Faster growth
CAT
7.2%
Better value
CAT
-40% upside
CAT vs MMM — FAQ
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