Caruthers is often considered one of the most deserving candidates for the Baseball Hall of Fame. Many sources recognize him as having compiled 218 wins and 99 losses, making his .688 winning percentage third all-time behind only Whitey Ford, and Dave Foutz (his teammate for eight seasons) among pitchers with at least 200 major league decisions. However, that is based on a total of 10 losses in the 1892 season (his last as a pitcher), a total revised from the contemporary record; the official league records for that year, which are recognized by Major League Baseball, charged him with only 8 losses, a figure which some other sources also recognize. The reduction of two losses would increase his career winning percentage to .691, placing him behind only Spud Chandler who compiled a record of .717 over 150 decisions.