Caterpillar Doesn't Generate Enough Free Cash Flow To Cover Dividend

Yesterday Jim Chanos announced his Short pick Caterpillar (NYSE: CAT)

A look at the free cash flow for Caterpillar for the trailing twelve month ending March 31,2013:
Dividend Paid ttm ending 3/31/2013:  $1,329,000,000.00
Free Cash Flow ttm end 3/31/2013:   $1,171,000,000.00

FCF only generated 88% of dividend! 

click to see enlarged numbers

Jim Chanos of Kynikos is short Caterpillar: http://t.co/xjpbaDCZR8 $CAT #DeliveringAlpha
— CNBC (@CNBC) July 17, 2013

$cat Caterpillar Slips: Chanos is Short as Commodity ‘Super Cycle’ Comes to an End http://t.co/5dfnMfsrV8 via @barronsonline
— tom renna (@GFNNstock) July 18, 2013

$cat from NYTIMES Chanos Makes Bet Against Caterpillar http://t.co/L1wkIZ4HIc
— tom renna (@GFNNstock) July 18, 2013

Equities Research

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