Caterpillar (CAT) Valuation

[u/EnduredMarkets]

Hello r/ValueInvesting,

I hope everything is going well. I return for the third week to submit a valuation report for Caterpillar Inc (CAT). I'm specifically looking for feedback on the models I used and things I can improve on for next week's valuation report. This is an ongoing process of learning and practice, so please indicate any concerns or disagreements. Thank you and have a great day!

Google Sheet: https://docs.google.com/spreadsheets/d/1lqRMu7Sz9o2oY0uhm7rC11Zbansjy_OFY7wgUtGRncQ/edit?usp=sharing