BAH
Booz Allen Hamilton Holding Corporation
BAH offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
CAT
Caterpillar Inc.
CAT has a slight edge over BAH overall, supported by stronger modeled upside and stronger fundamentals.
BAH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Under pressure |
BAH's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is under pressure.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
BAH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 13x | $86.44 | — |
| Cheap | 14x | $87.45 | +1.2% |
| Forward | 14x | $86.44 | — |
| Fair | 23x | $146 | +69% |
| Expensive | 34x | $218 | +152% |
Historical ranges are pointers, not guarantees.
BAH 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.
BAH Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect BAH's earnings to grow, with its revenue and profitability holding steady.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
CAT has the edge over BAH on the outlook, with more favorable valuation and revenue expectations.
BAH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.39 | -0.9% |
| Q3 2026 | $6.45 | -1.5% |
| Q2 2026 | $6.37 | -22% |
| Q1 2026 | $6.90 | -4.8% |
| Q4 2025 | $6.73 | +0.4% |
| Q3 2025 | $6.55 | +3% |
| Q2 2025 | $8.14 | +75% |
| Q1 2025 | $7.25 | +58% |
| Q4 2024 | $6.70 | +115% |
BAH 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.
BAH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.8B | -3.9% |
| Q2 2026 | $2.8B | -4.2% |
| Q1 2026 | $2.8B | -6.4% |
| Q4 2025 | $2.6B | -10% |
| Q3 2025 | $2.9B | -8.1% |
| Q2 2025 | $2.9B | -0.6% |
| Q1 2025 | $3B | +7.3% |
| Q4 2024 | $2.9B | +14% |
BAH's revenue is shrinking: $2.8B last quarter, down 3.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.8% | -1 points |
| Q2 2026 | 10% | +1.2 points |
| Q1 2026 | 9.4% | +0.2 points |
| Q4 2025 | 8.8% | -1.2 points |
| Q3 2025 | 9.8% | -7.7 points |
| Q2 2025 | 8.8% | +0.1 points |
| Q1 2025 | 9.2% | -0.3 points |
| Q4 2024 | 10% | +0.3 points |
BAH's operating margin was 8.8% last quarter, down 1 points from the same quarter a year ago.
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 has the edge over BAH on sales, with more consistent year-over-year improvement.
| 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 BAH on profitability, with a higher operating margin.
BAH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $263M | -33% |
| Q2 2026 | $261M | +172% |
| Q1 2026 | $212M | +9% |
| Q4 2025 | $248M | +86% |
| Q3 2025 | $395M | -30% |
| Q2 2025 | $96M | +388% |
| Q1 2025 | $194.4M | +52% |
| Q4 2024 | $133.6M | -37% |
BAH 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.
BAH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -594K shares |
| 1 year | -2.7% | -3.3M shares |
| 3 years | -8.8% | -11.5M shares |
| 5 years | -11% | -14.3M shares |
| Available history | -15% | -20.6M shares |
BAH has the edge over CAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $98M |
| Q2 2026 | $72M |
| Q1 2026 | $77M |
| Q4 2025 | $126M |
| Q3 2025 | $214M |
| Q2 2025 | $181M |
| Q1 2025 | $314.9M |
| Q4 2024 | $148.5M |
BAH spent $373M buying back its own shares over the past year, down 57% 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 461M diluted shares, down 2.1% from a year ago, with $8.1B in buybacks over the past year.
| 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.
BAH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.4x | Elevated |
| Q2 2026 | 2.8x | Moderate |
| Q1 2026 | 2.7x | Moderate |
| Q4 2025 | 2.5x | Moderate |
| Q3 2025 | 2.5x | Moderate |
| Q2 2025 | 2.1x | Moderate |
| Q1 2025 | 2.0x | Moderate |
| Q4 2024 | 1.9x | Healthy |
BAH's net debt is about 3.4 years of its operating earnings (EBITDA), up from 2.5 years a year ago.
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 BAH on leverage, with a lower net debt burden relative to earnings.
BAH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.5 | Neutral |
| Stochastic | 83.1 | Overbought |
BAH's weekly RSI is 60 (neutral) and its Stochastic is 83 (overbought).
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).
BAH PE vs Industrials Sector
| Metric | BAH | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 24x | 44% below |
| PE % | 15 | 58 | 43 pts below |
BAH 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.
BAH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $78.4 | 10% above |
| 20 week MA | $74.6 | 16% above |
| 50 week MA | $79.0 | 9.5% above |
| 100 week MA | $94.3 | 8.3% below |
| 200 week MA | $112.1 | 23% below |
BAH 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.
BAH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $70.9 | $87.4 | +23% |
| 2021 | $87.4 | $83.0 | -5% |
| 2022 | $83.0 | $104.5 | +26% |
| 2023 | $104.5 | $127.9 | +22% |
| 2024 | $127.9 | $129.7 | +1.4% |
| 2025 | $129.7 | $85.4 | -34% |
| 2026 YTD | $85.4 | $86.4 | +1.2% |
BAH has finished higher in four of the last six years. It's up 1.2% 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 BAH on returns for 2026, with the stronger performance.