AYI
Acuity Brands, Inc.
AYI offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
CAT
Caterpillar Inc.
CAT has a slight edge over AYI overall, supported by stronger modeled upside and lower modeled downside.
AYI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
AYI's profitability, cash flow and balance sheet are currently strong, and its revenue is stable.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
AYI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $257 | -22% |
| Forward | 15x | $330 | — |
| Current | 19x | $330 | — |
| Fair | 20x | $335 | +1.5% |
| Expensive | 24x | $412 | +25% |
Historical ranges are pointers, not guarantees.
AYI has the edge over CAT in the historical PE scenario, which offers more potential upside but is not a forecast.
CAT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $380 | -37% |
| Fair | 18x | $461 | -24% |
| Forward | 20x | $605 | — |
| Current | 24x | $605 | — |
| Expensive | 33x | $840 | +39% |
Historical ranges are pointers, not guarantees.
CAT's PE is in its expensive range at 24x. If earnings grow as analysts expect, today's price would be 20x next year's earnings, in its fair range.
AYI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect AYI's earnings to grow and its profitability to improve, with its revenue holding steady.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
CAT has the edge over AYI on the outlook, with more favorable revenue expectations.
AYI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $21.36 | +25% |
| Q3 2026 | $17.05 | +36% |
| Q2 2026 | $15.08 | +19% |
| Q1 2026 | $13.64 | +3.4% |
| Q4 2025 | $13.00 | -4.3% |
| Q3 2025 | $12.53 | -6.8% |
| Q2 2025 | $12.69 | +3.3% |
| Q1 2025 | $13.19 | +10% |
| Q4 2024 | $13.58 | +16% |
AYI has the edge over CAT on earnings, with more consistent year-over-year improvement.
CAT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $30.32 | +19% |
| Q3 2026 | $25.48 | +31% |
| Q2 2026 | $23.23 | +18% |
| Q1 2026 | $20.08 | -2% |
| Q4 2025 | $18.81 | -15% |
| Q3 2025 | $19.46 | -9.7% |
| Q2 2025 | $19.64 | -10% |
| Q1 2025 | $20.50 | -7.4% |
| Q4 2024 | $22.05 | +9.6% |
CAT earned $25.48 per share over the past year, up 31% from the year before.
AYI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +2.9% |
| Q2 2026 | $1.2B | +1.6% |
| Q1 2026 | $1.1B | +4.9% |
| Q4 2025 | $1.1B | +20% |
| Q3 2025 | $1.2B | +17% |
| Q2 2025 | $1.2B | +22% |
| Q1 2025 | $1B | +11% |
| Q4 2024 | $951.6M | +1.8% |
AYI's revenue has grown year over year for nine quarters in a row: $1.2B last quarter, up 2.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | +3.3 points |
| Q2 2026 | 16% | +4.3 points |
| Q1 2026 | 13% | +1.7 points |
| Q4 2025 | 14% | 0 points |
| Q3 2025 | 15% | -0.3 points |
| Q2 2025 | 12% | -3.2 points |
| Q1 2025 | 11% | -2.1 points |
| Q4 2024 | 14% | -0.2 points |
AYI's operating margin was 18% last quarter, up 3.3 points from the same quarter a year ago, near the top of its range since 2019.
CAT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $20.7B | +17% |
| Q2 2026 | $20.5B | +24% |
| Q1 2026 | $17.4B | +22% |
| Q4 2025 | $19.1B | +18% |
| Q3 2025 | $17.6B | +9.5% |
| Q2 2025 | $16.6B | -0.7% |
| Q1 2025 | $14.2B | -9.8% |
| Q4 2024 | $16.2B | -5% |
CAT's revenue has grown year over year for five quarters in a row: $20.7B last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +3.1 points |
| Q2 2026 | 21% | +3.6 points |
| Q1 2026 | 18% | -0.4 points |
| Q4 2025 | 14% | -4.1 points |
| Q3 2025 | 17% | -2.2 points |
| Q2 2025 | 17% | -3.6 points |
| Q1 2025 | 18% | -4.2 points |
| Q4 2024 | 18% | -0.3 points |
CAT has the edge over AYI on profitability, with a higher operating margin.
AYI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $286.2M | +61% |
| Q2 2026 | $273.6M | +42% |
| Q1 2026 | $73.3M | +47% |
| Q4 2025 | $114.8M | +1.3% |
| Q3 2025 | $177.7M | +18% |
| Q2 2025 | $192.3M | +37% |
| Q1 2025 | $49.7M | -44% |
| Q4 2024 | $113.3M | -35% |
AYI has the edge over CAT on cash flow, with more consistent year-over-year improvement.
CAT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.7B | +19% |
| Q2 2026 | $3.8B | +47% |
| Q1 2026 | $1.1B | +97% |
| Q4 2025 | $2.7B | +0.1% |
| Q3 2025 | $3.1B | -1.5% |
| Q2 2025 | $2.6B | -4.2% |
| Q1 2025 | $579M | -63% |
| Q4 2024 | $2.7B | -22% |
CAT generated $11.3B in free cash flow over the past year, up 26% from the year before.
AYI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +197K shares |
| 1 year | -1.5% | -490K shares |
| 3 years | -3.1% | -1M shares |
| 5 years | -15% | -5.4M shares |
| Available history | -21% | -8.4M shares |
AYI has 31M diluted shares, down 1.5% from a year ago, with $287M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $57.3M |
| Q2 2026 | $126.9M |
| Q1 2026 | $75.9M |
| Q4 2025 | $27.1M |
| Q3 2025 | $27.2M |
| Q2 2025 | $68.7M |
| Q1 2025 | $15.9M |
| Q4 2024 | $6.7M |
AYI spent $287M buying back its own shares over the past year, up 142% from the year before.
CAT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -1.6M shares |
| 1 year | -2.1% | -9.9M shares |
| 3 years | -10% | -51.7M shares |
| 5 years | -16% | -86.7M shares |
| Available history | -19% | -107M shares |
CAT has the edge over AYI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.2B |
| Q2 2026 | $1.5B |
| Q1 2026 | $5B |
| Q4 2025 | $340M |
| Q3 2025 | $362M |
| Q2 2025 | $828M |
| Q1 2025 | $3.7B |
| Q4 2024 | $640M |
CAT spent $8.1B buying back its own shares over the past year, up 47% from the year before.
AYI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.6x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 1.0x | Very low |
| Q1 2025 | 1.1x | Healthy |
| Q4 2024 | -0.7x | Net Cash |
AYI's net debt is less than a year of its operating earnings (EBITDA).
CAT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.3x | Net Cash |
| Q4 2025 | 2.0x | Healthy |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.4x | Net Cash |
| Q1 2025 | -0.3x | Net Cash |
| Q4 2024 | 1.6x | Healthy |
CAT has the edge over AYI on leverage, with a lower net debt burden relative to earnings.
AYI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.1 | Neutral |
| Stochastic | 41.4 | Neutral |
AYI's weekly RSI is 54 (neutral) and its Stochastic is 41 (neutral).
CAT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.7 | Neutral |
| Stochastic | 6.7 | Oversold |
CAT's weekly RSI is 33 (neutral) and its Stochastic is 7 (oversold).
AYI PE vs Industrials Sector
| Metric | AYI | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 24x | 20% below |
| PE % | 47 | 58 | 11 pts below |
AYI has the edge over CAT on valuation relative to its sector.
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.3% below |
| PE % | 69 | 58 | 11 pts above |
CAT is trading at 24x earnings, in line with the Industrials sector's median of 24x.
AYI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $315.0 | 4.9% above |
| 20 week MA | $327.8 | 0.7% above |
| 50 week MA | $317.1 | 4.2% above |
| 100 week MA | $311.0 | 6.2% above |
| 200 week MA | $264.5 | 25% above |
AYI has the edge over CAT on trend strength, trading above more of its moving averages.
CAT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $709.0 | 15% below |
| 20 week MA | $797.0 | 24% below |
| 50 week MA | $771.3 | 22% below |
| 100 week MA | $586.7 | 3.2% above |
| 200 week MA | $443.1 | 37% above |
CAT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 37% above its 200-week average.
AYI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $137.7 | $119.0 | -14% |
| 2021 | $119.0 | $209.0 | +76% |
| 2022 | $209.0 | $166.4 | -20% |
| 2023 | $166.4 | $204.8 | +23% |
| 2024 | $204.8 | $297.7 | +45% |
| 2025 | $297.7 | $373.3 | +25% |
| 2026 YTD | $373.3 | $330.3 | -12% |
AYI has finished higher in four of the last six years. It's down 12% so far in 2026.
CAT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $148.3 | $179.6 | +21% |
| 2021 | $179.6 | $206.2 | +15% |
| 2022 | $206.2 | $239.9 | +16% |
| 2023 | $239.9 | $295.7 | +23% |
| 2024 | $295.7 | $364.9 | +23% |
| 2025 | $364.9 | $583.0 | +60% |
| 2026 YTD | $583.0 | $605.3 | +3.8% |
CAT has the edge over AYI on returns for 2026, with the stronger performance.