CAAP
Corporación América Airports S.A.
CAAP offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
CAT
Caterpillar Inc.
CAT has a slight edge over CAAP overall, supported by stronger modeled upside and lower modeled downside.
CAAP Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
CAAP'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.
CAAP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 9.6x | $25.09 | — |
| Cheap | 11x | $17.91 | -29% |
| Fair | 15x | $26.07 | +3.9% |
| Current | 15x | $25.09 | — |
| Expensive | 42x | $71.32 | +184% |
Historical ranges are pointers, not guarantees.
CAAP 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.
CAAP Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for CAAP, with profitability improving.
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.
CAAP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.61 | +54% |
| Q2 2026 | $1.70 | +62% |
| Q1 2026 | $1.76 | +66% |
| Q4 2025 | $1.54 | -13% |
| Q3 2025 | $1.30 | -40% |
| Q2 2025 | $1.05 | -52% |
| Q1 2025 | $1.06 | -54% |
| Q4 2024 | $1.76 | +18% |
| Q3 2024 | $2.16 | +196% |
CAAP has the edge over CAT on earnings, with more consistent year-over-year improvement.
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 earned $25.48 per share over the past year, up 31% from the year before.
CAAP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $377.4M | -21% |
| Q1 2026 | $537.6M | +20% |
| Q4 2025 | $562.6M | +5.7% |
| Q3 2025 | $527.3M | +14% |
| Q2 2025 | $476.8M | +15% |
| Q1 2025 | $447.8M | +3.4% |
| Q4 2024 | $532.2M | +321% |
| Q3 2024 | $461.8M | -1.5% |
CAAP's revenue is growing: $377M last quarter, down 21% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 12% | -13 points |
| Q1 2026 | 26% | +2.4 points |
| Q4 2025 | 24% | +2.1 points |
| Q3 2025 | 28% | +6.3 points |
| Q2 2025 | 25% | +2.5 points |
| Q1 2025 | 24% | -5.2 points |
| Q4 2024 | 22% | -134 points |
| Q3 2024 | 22% | +20 points |
CAAP's operating margin was 12% last quarter, down 12 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'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 CAAP on profitability, with a higher operating margin.
CAAP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $98.4M | -12% |
| Q1 2026 | $99M | +27% |
| Q4 2025 | $124M | +312% |
| Q3 2025 | $133.8M | +24% |
| Q2 2025 | $111.3M | +21% |
| Q1 2025 | $78M | -52% |
| Q4 2024 | $30.1M | -8.1% |
| Q3 2024 | $107.9M | -27% |
CAAP has the edge over CAT on cash flow, with stronger typical year-over-year growth.
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.
CAAP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.5% | +857K shares |
| 3 years | +1.9% | +3M shares |
| 5 years | +2.1% | +3.3M shares |
| Available history | +2.5% | +3.9M shares |
CAAP has 164M diluted shares, up 0.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
CAAP hasn't bought back shares in the past year.
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 CAAP 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.
CAAP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.6x | Very low |
| Q1 2026 | 0.6x | Very low |
| Q4 2025 | 0.8x | Very low |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 1.0x | Very low |
| Q1 2025 | 1.0x | Very low |
| Q4 2024 | 0.8x | Very low |
| Q3 2024 | 1.0x | Healthy |
CAAP'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 CAAP on leverage, with a lower net debt burden relative to earnings.
CAAP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.3 | Neutral |
| Stochastic | 53.7 | Neutral |
CAAP's weekly RSI is 52 (neutral) and its Stochastic is 54 (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).
CAAP PE vs Industrials Sector
| Metric | CAAP | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 24x | 39% below |
| PE % | 48 | 58 | 10 pts below |
CAAP has the edge over CAT on valuation relative to its sector.
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.1% below |
| PE % | 69 | 58 | 11 pts above |
CAT is trading at 24x earnings, in line with the Industrials sector's median of 24x.
CAAP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $24.4 | 2.7% above |
| 20 week MA | $24.5 | 2.2% above |
| 50 week MA | $25.6 | 1.9% below |
| 100 week MA | $22.7 | 11% above |
| 200 week MA | $18.6 | 35% above |
CAAP 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.
CAAP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.68 | $3.84 | -32% |
| 2021 | $3.84 | $5.64 | +47% |
| 2022 | $5.64 | $8.22 | +46% |
| 2023 | $8.22 | $16.1 | +95% |
| 2024 | $16.1 | $18.9 | +18% |
| 2025 | $18.9 | $26.2 | +38% |
| 2026 YTD | $26.2 | $25.1 | -4.1% |
CAAP has finished higher in five of the last six years. It's down 4.1% 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 CAAP on returns for 2026, with the stronger performance.