CAT
Caterpillar Inc.
CAT has a slight edge over CLH overall, supported by stronger modeled upside and stronger fundamentals.
CLH
Clean Harbors, Inc.
CLH offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
CLH Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Healthy |
CLH's revenue, profitability, cash flow and balance sheet are all currently healthy.
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.
CLH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 22x | $217 | -26% |
| Current | 30x | $294 | — |
| Forward | 30x | $294 | — |
| Fair | 31x | $307 | +4.3% |
| Expensive | 37x | $366 | +24% |
Historical ranges are pointers, not guarantees.
CLH has the edge over CAT in the historical PE scenario, which offers more potential upside but is not a forecast.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
CAT has the edge over CLH on the outlook, with more favorable valuation and profitability expectations.
CLH Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for CLH, but weaker profitability. However, they disagree widely on these estimates.
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.
CLH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.74 | -2.3% |
| Q3 2026 | $9.96 | +38% |
| Q2 2026 | $8.24 | +16% |
| Q1 2026 | $7.38 | +2.2% |
| Q4 2025 | $7.28 | -1.9% |
| Q3 2025 | $7.21 | -6.1% |
| Q2 2025 | $7.12 | -1.7% |
| Q1 2025 | $7.22 | +4.5% |
| Q4 2024 | $7.42 | +6.8% |
CLH has the edge over CAT on earnings, with more consistent year-over-year improvement.
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 CLH on profitability, with a higher operating margin.
CLH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.9B | +21% |
| Q2 2026 | $1.7B | +12% |
| Q1 2026 | $1.5B | +1.9% |
| Q4 2025 | $1.5B | +4.8% |
| Q3 2025 | $1.5B | +1.3% |
| Q2 2025 | $1.5B | -0.2% |
| Q1 2025 | $1.4B | +4% |
| Q4 2024 | $1.4B | +6.9% |
CLH's revenue has grown year over year for five quarters in a row: $1.9B last quarter, up 21% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | +4.6 points |
| Q2 2026 | 16% | +1.9 points |
| Q1 2026 | 8.2% | +0.4 points |
| Q4 2025 | 11% | +1 points |
| Q3 2025 | 12% | -0.1 points |
| Q2 2025 | 14% | -0.3 points |
| Q1 2025 | 7.8% | -1.3 points |
| Q4 2024 | 9.6% | -1.4 points |
CLH's operating margin was 17% last quarter, up 4.6 points from the same quarter a year ago, near the top of its range since 2019.
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.
CLH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $246.4M | +19% |
| Q2 2026 | $113M | -4.3% |
| Q1 2026 | -$92.1M | +$24.9M |
| Q4 2025 | $233.3M | -3.4% |
| Q3 2025 | $207.5M | +46% |
| Q2 2025 | $118M | +46% |
| Q1 2025 | -$117.1M | +$2.3M |
| Q4 2024 | $241.5M | +43% |
CLH has the edge over CAT on cash flow, with more consistent year-over-year improvement.
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 CLH 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.
CLH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -64K shares |
| 1 year | -1.5% | -816K shares |
| 3 years | -2.8% | -1.5M shares |
| 5 years | -3.3% | -1.8M shares |
| Available history | -5.8% | -3.2M shares |
CLH has 53M diluted shares, down 1.5% from a year ago, with $210M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $25M |
| Q2 2026 | $27.1M |
| Q1 2026 | $25M |
| Q4 2025 | $133M |
| Q3 2025 | $50M |
| Q2 2025 | $12M |
| Q1 2025 | $55M |
| Q4 2024 | $25M |
CLH spent $210M buying back its own shares over the past year, up 48% from the year before.
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 CLH on leverage, with a lower net debt burden relative to earnings.
CLH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 2.0x | Healthy |
| Q1 2026 | 2.0x | Healthy |
| Q4 2025 | 1.7x | Healthy |
| Q3 2025 | 1.8x | Healthy |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 2.1x | Moderate |
| Q4 2024 | 2.0x | Healthy |
CLH's net debt is about 1.9 years of its operating earnings (EBITDA), about the same as a year ago.
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).
CLH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.6 | Neutral |
| Stochastic | 18.5 | Oversold |
CLH's weekly RSI is 46 (neutral) and its Stochastic is 19 (oversold).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.3% below |
| PE % | 69 | 58 | 11 pts above |
CAT has the edge over CLH on valuation relative to its sector.
CLH PE vs Industrials Sector
| Metric | CLH | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 24x | 23% above |
| PE % | 41 | 58 | 17 pts below |
CLH is trading at 30x earnings, a 23% premium to the Industrials sector's median of 24x.
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.
CLH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $308.4 | 4.7% below |
| 20 week MA | $310.1 | 5.2% below |
| 50 week MA | $290.6 | 1.1% above |
| 100 week MA | $257.9 | 14% above |
| 200 week MA | $222.0 | 32% above |
CLH has the edge over CAT on trend strength, trading above more of its moving averages.
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 finished every year since 2020 higher, and it's up 3.8% so far in 2026.
CLH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $86.2 | $75.3 | -13% |
| 2021 | $75.3 | $95.6 | +27% |
| 2022 | $95.6 | $114.8 | +20% |
| 2023 | $114.8 | $174.5 | +52% |
| 2024 | $174.5 | $229.6 | +32% |
| 2025 | $229.6 | $240.8 | +4.9% |
| 2026 YTD | $240.8 | $293.8 | +22% |
CLH has the edge over CAT on returns for 2026, with the stronger performance.