BCHT
Birchtech Corp.
BCHT offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
CAT
Caterpillar Inc.
CAT has the edge over BCHT overall, supported by stronger fundamentals and lower modeled downside.
BCHT Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Weak | |
| Strong |
BCHT's balance sheet is currently strong, but its revenue, profitability and cash flow are under pressure.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
BCHT PE Valuation
BCHT has no meaningful PE right now: it lost money over the past year.
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.
BCHT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect BCHT's losses to shrink, with revenue growing.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for CAT, with profitability improving. However, they disagree widely on these estimates.
BCHT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.19 | +$0.03 |
| Q2 2026 | -$0.13 | +$0.16 |
| Q1 2026 | -$0.12 | +$0.39 |
| Q4 2025 | -$0.16 | +$0.39 |
| Q3 2025 | -$0.22 | -$0.21 |
| Q2 2025 | -$0.29 | -$0.25 |
| Q1 2025 | -$0.51 | -313% |
| Q4 2024 | -$0.55 | -283% |
BCHT is still losing money, but far less than before: $0.19 per share over the past year, against $0.65 at its worst in early 2020.
CAT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $29.73 | +17% |
| 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 has the edge over BCHT on earnings quality, reporting a profit while its opponent remains loss making.
BCHT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.5M | -25% |
| Q2 2026 | $3.8M | +16% |
| Q1 2026 | $4.2M | +32% |
| Q4 2025 | $3.8M | -28% |
| Q3 2025 | $7.4M | +41% |
| Q2 2025 | $3.3M | -3.2% |
| Q1 2025 | $3.2M | -9.4% |
| Q4 2024 | $5.3M | +29% |
BCHT's revenue has slid since its 2022 peak: $6M last quarter, down 25% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -11% | -22 points |
| Q2 2026 | -43% | -6.4 points |
| Q1 2026 | -27% | +15 points |
| Q4 2025 | -35% | -27 points |
| Q3 2025 | 11% | +32 points |
| Q2 2025 | -36% | +70 points |
| Q1 2025 | -42% | +17 points |
| Q4 2024 | -7.5% | -239 points |
BCHT's operating margin was −11% last quarter, down 22 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 BCHT 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 BCHT on profitability, with a higher operating margin.
BCHT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$837.5K | -367% |
| Q2 2026 | -$2.9M | -$1.2M |
| Q1 2026 | -$2.2M | -$1.9M |
| Q4 2025 | $958.4K | +$1.9M |
| Q3 2025 | $314.2K | +$1.1M |
| Q1 2025 | -$268.5K | +$170.7K |
| Q4 2024 | -$937.8K | -105% |
| Q1 2024 | -$439.2K | -156% |
BCHT has burned cash in most quarters: −$5M over the past year, against −$3M the year before.
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 has the edge over BCHT on cash generation, producing positive trailing cash flow while its opponent burns cash.
BCHT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -8.6K shares |
| 1 year | +37% | +7M shares |
| 3 years | +39% | +7.4M shares |
| 5 years | +56% | +9.5M shares |
| Available history | +72% | +11M shares |
BCHT has 26M diluted shares, up 37% from a year ago.
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 BCHT 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.
BCHT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2024 | -1.6x | Net Cash |
| Q2 2024 | -1.7x | Net Cash |
| Q1 2024 | -1.4x | Net Cash |
| Q4 2023 | -3.2x | Net Cash |
BCHT has more cash than debt.
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 more cash than debt.
BCHT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.9 | Neutral |
| Stochastic | 14.3 | Oversold |
BCHT's weekly RSI is 38 (neutral) and its Stochastic is 14 (oversold).
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).
BCHT PE vs Industrials Sector
| Metric | BCHT | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
BCHT has no meaningful PE right now: it lost money over the past year.
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.1% below |
| PE % | 69 | 58 | 11 pts above |
CAT is trading at 24x earnings, in line with the Industrials sector's median of 24x.
BCHT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.28 | 8.6% below |
| 20 week MA | $1.41 | 17% below |
| 50 week MA | $2.15 | 46% below |
| 100 week MA | $2.58 | 55% below |
| 200 week MA | $2.86 | 59% below |
BCHT is in a downtrend: it's below all five of its weekly moving averages, and 59% below its 200-week average.
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 the edge over BCHT on trend strength, trading above more of its moving averages.
BCHT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $0.95 | $3.20 | +237% |
| 2021 | $3.20 | $2.90 | -9.4% |
| 2022 | $2.90 | $1.50 | -48% |
| 2023 | $1.50 | $4.60 | +207% |
| 2024 | $4.60 | $2.45 | -47% |
| 2025 | $2.45 | $3.75 | +53% |
| 2026 YTD | $3.75 | $1.17 | -69% |
BCHT's yearly returns have swung widely, from +237% in 2020 to −48% in 2022. It's down 69% 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 BCHT on returns for 2026, with the stronger performance.