MLR vs. CAT

Last updated Jun 23, 2026

MLR (Miller Industries, Inc.) and CAT (Caterpillar Inc.) are both stocks. MLR operates in Auto Parts (Consumer Cyclical), while CAT operates in Farm & Heavy Construction Machinery (Industrials). Over the past 10 years, MLR returned 11.55%/yr vs 33.19%/yr for CAT. At a 0.28 correlation, their price movements are largely independent.

Performance

MLR vs. CAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Miller Industries, Inc. (MLR) and Caterpillar Inc. (CAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLR achieves a 34.30% return, which is significantly lower than CAT's 79.21% return. Over the past 10 years, MLR has underperformed CAT with an annualized return of 11.55%, while CAT has yielded a comparatively higher 33.19% annualized return.

MLR

• 1D: -0.08%
• 1M: 7.28%
• YTD: 34.30%
• 6M: 32.08%
• 1Y: 15.99%
• 3Y*: 14.24%
• 5Y*: 7.08%
• 10Y*: 11.55%

CAT

• 1D: 3.70%
• 1M: 16.18%
• YTD: 79.21%
• 6M: 76.27%
• 1Y: 186.63%
• 3Y*: 65.85%
• 5Y*: 39.22%
• 10Y*: 33.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MLR vs. CAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLR Miller Industries, Inc.	34.30%	-41.73%	56.58%	61.77%	-17.93%	-10.51%	4.82%	40.68%	7.49%	0.32%
CAT Caterpillar Inc.	79.21%	60.30%	24.66%	25.95%	18.60%	15.95%	26.97%	19.51%	-17.56%	75.03%

Correlation

The correlation between MLR and CAT is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Aug 2, 1994	0.28

Over the past year, MLR and CAT have become more correlated (0.50) than their long-term average of 0.28, meaning their price movements have been converging.

Fundamentals

Market Cap MLR : $573.29M CAT : $476.18B
EPS MLR : $1.34 CAT : $20.07
PE Ratio MLR : 37.12 CAT : 50.93
PEG Ratio MLR : 0.95 CAT : 3.37
PS Ratio MLR : 0.77 CAT : 6.78
PB Ratio MLR : 1.37 CAT : 25.52
Total Revenue (TTM) MLR : $744.73M CAT : $70.76B
Gross Profit (TTM) MLR : $112.13M CAT : $23.01B
EBITDA (TTM) MLR : $33.28M CAT : $15.31B

Return for Risk

MLR vs. CAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MLR

MLR Risk / Return Rank: 57
MLR Sharpe Ratio Rank: 60
MLR Sortino Ratio Rank: 55
MLR Omega Ratio Rank: 52
MLR Calmar Ratio Rank: 58
MLR Martin Ratio Rank: 58

CAT

CAT Risk / Return Rank: 99
CAT Sharpe Ratio Rank: 99
CAT Sortino Ratio Rank: 99
CAT Omega Ratio Rank: 98
CAT Calmar Ratio Rank: 99
CAT Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MLR vs. CAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Miller Industries, Inc. (MLR) and Caterpillar Inc. (CAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MLR	CAT	Difference
Sharpe ratio: Return per unit of total volatility	0.55	5.30	-4.75
Sortino ratio: Return per unit of downside risk	0.96	5.65	-4.69
Omega ratio: Gain probability vs. loss probability	1.11	1.73	-0.62
Calmar ratio: Return relative to maximum drawdown	0.70	13.53	-12.83
Martin ratio: Return relative to average drawdown	1.48	44.33	-42.85

MLR vs. CAT - Sharpe Ratio Comparison

The current MLR Sharpe Ratio is 0.55, which is lower than the CAT Sharpe Ratio of 5.30. The chart below compares the historical Sharpe Ratios of MLR and CAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MLR vs. CAT - Drawdown Comparison

The maximum MLR drawdown since its inception was -98.14%, which is greater than CAT's maximum drawdown of -73.43%. Use the drawdown chart below to compare losses from any high point for MLR and CAT.

Drawdown Indicators

	MLR	CAT	Difference
Max Drawdown Largest peak-to-trough decline	-98.14%	-73.43%	-24.71%
Max Drawdown (1Y) Largest decline over 1 year	-22.80%	-13.88%	-8.92%
Max Drawdown (3Y) Largest decline over 3 years	-52.70%	-34.05%	-18.65%
Max Drawdown (5Y) Largest decline over 5 years	-52.70%	-34.05%	-18.65%
Max Drawdown (10Y) Largest decline over 10 years	-53.25%	-43.36%	-9.89%
Current Drawdown Current decline from peak	-34.12%	0.00%	-34.12%
Average Drawdown Average peak-to-trough decline	-69.58%	-19.72%	-49.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.84%	4.23%	+6.61%

Volatility

MLR vs. CAT - Volatility Comparison

The current volatility for Miller Industries, Inc. (MLR) is 7.51%, while Caterpillar Inc. (CAT) has a volatility of 12.90%. This indicates that MLR experiences smaller price fluctuations and is considered to be less risky than CAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLR	CAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.51%	12.90%	-5.39%
Volatility (6M) Calculated over the trailing 6-month period	19.02%	27.80%	-8.78%
Volatility (1Y) Calculated over the trailing 1-year period	29.13%	35.49%	-6.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.58%	30.84%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.98%	31.03%	-0.05%

Dividends

MLR vs. CAT - Dividend Comparison

MLR's dividend yield for the trailing twelve months is around 1.65%, more than CAT's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAT Caterpillar Inc.	0.59%	1.02%	1.49%	1.69%	1.93%	2.07%	2.26%	2.56%	2.58%	1.97%	3.32%	4.33%
MLR Miller Industries, Inc.	1.65%	2.14%	1.16%	1.70%	2.70%	2.16%	1.89%	1.94%	2.67%	2.79%	2.57%	2.94%

Financials

MLR vs. CAT - Profitability Comparison

The chart below illustrates the profitability comparison between Miller Industries, Inc. and Caterpillar Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MLR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Miller Industries, Inc. reported a gross profit of 25.68M and revenue of 180.86M. Therefore, the gross margin over that period was 14.2%.

CAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported a gross profit of 6.11B and revenue of 17.42B. Therefore, the gross margin over that period was 35.1%.

MLR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Miller Industries, Inc. reported an operating income of 1.73M and revenue of 180.86M, resulting in an operating margin of 1.0%.

CAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported an operating income of 3.09B and revenue of 17.42B, resulting in an operating margin of 17.7%.

MLR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Miller Industries, Inc. reported a net income of 555.00K and revenue of 180.86M, resulting in a net margin of 0.3%.

CAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported a net income of 2.55B and revenue of 17.42B, resulting in a net margin of 14.6%.

Frequently Asked Questions

Can I hold both MLR and CAT in my portfolio?

MLR and CAT have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLR or CAT?

CAT has higher volatility (12.90%) compared to MLR (7.51%). In terms of maximum drawdown, MLR dropped -98.14% vs CAT's -73.43%.

Which has better risk-adjusted returns?

CAT currently has the higher Sharpe Ratio (5.30 vs 0.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.