卡特彼勒股价创历史新高，财报业绩与行业景气提振市场

Core Viewpoint - Caterpillar's stock price increased by 4.17% on February 11, reaching a historical high with a market capitalization exceeding $360 billion, driven by strong quarterly earnings, industry conditions, and active trading [1] Group 1: Performance and Operating Conditions - The company's revenue for Q4 2025 reached $19.1 billion, marking the highest quarterly figure in recent years, with a year-on-year growth of 4% [2] - Strong demand in the power and energy sector led to both volume and price increases, alleviating the profit drag from rising tariff costs [2] - Although operating profit for the quarter decreased by approximately 9% year-on-year, growth in terminal equipment sales and structural highlights within the sector supported investor confidence [2] Group 2: Industry Policy and Environment - Increased global AI capital expenditure has positively influenced orders for related equipment, indirectly benefiting heavy machinery demand [3] - The market's digestion of tariff policy impacts and expectations of economic resilience may drive short-term capital inflows [3] Group 3: Stock Price and Trading Performance - The trading volume on the day reached $3.72 billion, with a volume ratio of 2.07, indicating active buying interest [4] - The industrial distribution sector overall rose by 3.06%, amplifying individual stock gains [4] - Year-to-date cumulative growth reached 35.30%, with some investors likely betting on recovery logic based on improved earnings expectations [4]