CAT
Caterpillar Inc.
CAT has the edge over DAC overall, supported by stronger modeled upside and stronger valuation.
DAC
Danaos Corporation
DAC trails on the overall score without a compensating advantage in the available component scores.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
DAC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Strong |
DAC's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
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 has the edge over DAC in the historical PE scenario, which offers more potential upside but is not a forecast.
DAC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 1.6x | $48.02 | -68% |
| Fair | 2.7x | $79.64 | -48% |
| Expensive | 4x | $119 | -21% |
| Current | 5.1x | $152 | — |
| Forward | 5.5x | $152 | — |
Historical ranges are pointers, not guarantees.
DAC's PE is in its expensive range at 5.1x. On analysts' estimates for next year's earnings, today's price would be 5.5x.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Low |
CAT has the edge over DAC on the outlook, with more favorable valuation and earnings expectations.
DAC Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect DAC's revenue to grow, but its profitability to weaken.
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.
DAC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $27.63 | -6.5% |
| Q2 2026 | $29.55 | +22% |
| Q1 2026 | $28.35 | +17% |
| Q4 2025 | $26.78 | +3.5% |
| Q3 2025 | $25.02 | -13% |
| Q2 2025 | $24.21 | -18% |
| Q1 2025 | $24.32 | -17% |
| Q4 2024 | $25.87 | -11% |
| Q3 2024 | $28.91 | +0.5% |
DAC's earnings per share have fallen from their peak: $29.55 over the past year, against $52.23 in early 2022.
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's operating margin was 20% last quarter, up 3.1 points from the same quarter a year ago.
DAC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $274.4M | +4.7% |
| Q1 2026 | $253.7M | +0.2% |
| Q4 2025 | $266.3M | +3.1% |
| Q3 2025 | $260.7M | +1.8% |
| Q2 2025 | $262.2M | +6.4% |
| Q1 2025 | $253.3M | -0.1% |
| Q4 2024 | $258.2M | +3.6% |
| Q3 2024 | $256.2M | +7.1% |
DAC's revenue grew through 2022 and has held roughly level since: $274M last quarter, up 4.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 48% | +0.5 points |
| Q1 2026 | 49% | +1.9 points |
| Q4 2025 | 46% | -3.7 points |
| Q3 2025 | 50% | -1.5 points |
| Q2 2025 | 48% | -8.9 points |
| Q1 2025 | 47% | -7.9 points |
| Q4 2024 | 50% | -3 points |
| Q3 2024 | 51% | -9.9 points |
DAC has the edge over CAT on profitability, with a higher operating margin.
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.
DAC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $20.5M | -86% |
| Q1 2026 | $11.5M | -76% |
| Q4 2025 | $65.2M | -17% |
| Q3 2025 | $80M | +$161.8M |
| Q2 2025 | $147.3M | +$210.7M |
| Q1 2025 | $48.2M | +65% |
| Q4 2024 | $78.5M | +2955% |
| Q3 2024 | -$81.8M | -259% |
DAC still generates free cash flow, though less than at its 2022 peak: $177M over 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 DAC 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.
DAC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +23K shares |
| 1 year | -0.8% | -140K shares |
| 3 years | -9.1% | -1.8M shares |
| 5 years | -11% | -2.3M shares |
| Available history | +19% | +2.9M shares |
DAC has 18M diluted shares, down 0.8% from a year ago, with $30M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $22,128 |
| Q1 2026 | $6.8M |
| Q4 2025 | $22.5M |
| Q3 2025 | $395,015 |
| Q2 2025 | $21.5M |
| Q1 2025 | $33.8M |
| Q4 2024 | $47.6M |
| Q3 2024 | $492,000 |
DAC spent $30M buying back its own shares over the past year, down 71% 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 DAC on leverage, with a lower net debt burden relative to earnings.
DAC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.2x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.4x | Very low |
| Q3 2024 | 0.4x | Very low |
DAC's net debt is less than a year of its operating earnings (EBITDA).
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).
DAC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 47.2 | Neutral |
DAC's weekly RSI is 56 (neutral) and its Stochastic is 47 (neutral).
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.
DAC PE vs Industrials Sector
| Metric | DAC | Sector median | Relative |
|---|---|---|---|
| PE | 5.1x | 24x | 79% below |
| PE % | 93 | 58 | 35 pts above |
DAC has the edge over CAT on valuation relative to its sector.
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.
DAC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $157.7 | 3.8% below |
| 20 week MA | $149.0 | 1.9% above |
| 50 week MA | $127.0 | 20% above |
| 100 week MA | $106.3 | 43% above |
| 200 week MA | $89.3 | 70% above |
DAC 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.
DAC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.07 | $21.0 | +132% |
| 2021 | $21.0 | $70.1 | +234% |
| 2022 | $70.1 | $54.6 | -22% |
| 2023 | $54.6 | $74.1 | +36% |
| 2024 | $74.1 | $78.9 | +6.5% |
| 2025 | $78.9 | $94.7 | +20% |
| 2026 YTD | $94.7 | $151.8 | +60% |
DAC has the edge over CAT on returns for 2026, with the stronger performance.