CAT
Caterpillar Inc.
CAT has slightly lower modeled downside risk, despite its lower overall score.
ENS
EnerSys
ENS has the edge over CAT overall, supported by stronger valuation.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
ENS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Healthy |
ENS'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'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.
ENS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 11x | $148 | — |
| Cheap | 14x | $138 | -6.6% |
| Current | 15x | $148 | — |
| Fair | 20x | $196 | +33% |
| Expensive | 26x | $257 | +74% |
Historical ranges are pointers, not guarantees.
ENS 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 | |
| Improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for CAT, with profitability improving. However, they disagree widely on these estimates.
ENS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ENS, with profitability improving.
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.
ENS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.22 | +33% |
| Q3 2026 | $9.95 | +17% |
| Q2 2026 | $9.33 | +6.8% |
| Q1 2026 | $7.70 | -14% |
| Q4 2025 | $8.05 | -0.4% |
| Q3 2025 | $8.53 | +21% |
| Q2 2025 | $8.74 | +32% |
| Q1 2025 | $8.99 | +38% |
| Q4 2024 | $8.08 | +22% |
ENS 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 ENS on profitability, with a higher operating margin.
ENS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $949.9M | -0.1% |
| Q2 2026 | $935.6M | +4.8% |
| Q1 2026 | $987.9M | +1.3% |
| Q4 2025 | $919.1M | +1.4% |
| Q3 2025 | $951.3M | +7.7% |
| Q2 2025 | $893M | +4.7% |
| Q1 2025 | $974.8M | +7% |
| Q4 2024 | $906.2M | +5.2% |
ENS's revenue grew through 2022 and has held roughly level since: $950M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +2.5 points |
| Q2 2026 | 16% | +6.5 points |
| Q1 2026 | 13% | -1 points |
| Q4 2025 | 14% | -2.2 points |
| Q3 2025 | 9.7% | -1.6 points |
| Q2 2025 | 9.7% | -1 points |
| Q1 2025 | 13% | +4.6 points |
| Q4 2024 | 16% | +5 points |
ENS's operating margin was 12% last quarter, up 2.5 points from the same quarter a year ago.
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.
ENS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $130.3M | -34% |
| Q2 2026 | $217.7M | +$249.8M |
| Q1 2026 | $131.2M | +25% |
| Q4 2025 | $171.3M | +202% |
| Q3 2025 | $197.1M | +5876% |
| Q2 2025 | -$32.1M | -$6.3M |
| Q1 2025 | $104.9M | -4.1% |
| Q4 2024 | $56.8M | -49% |
ENS generated $650M in free cash flow over the past year, up 99% 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.
ENS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.8% | -669K shares |
| 1 year | -2.7% | -1M shares |
| 3 years | -11% | -4.7M shares |
| 5 years | -15% | -6.3M shares |
| Available history | -14% | -5.9M shares |
ENS has the edge over CAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $130M |
| Q2 2026 | $50M |
| Q1 2026 | $69.3M |
| Q4 2025 | $83.6M |
| Q3 2025 | $67.8M |
| Q2 2025 | $150M |
| Q1 2025 | $40M |
| Q4 2024 | $38.7M |
ENS spent $333M buying back its own shares over the past year, up 12% 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 ENS on leverage, with a lower net debt burden relative to earnings.
ENS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.9x | Very low |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.5x | Healthy |
| Q2 2025 | 1.7x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.6x | Healthy |
ENS's net debt is less than a year of its operating earnings (EBITDA), down from 1.5 years 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).
ENS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.5 | Neutral |
| Stochastic | 5.8 | Oversold |
ENS's weekly RSI is 32 (neutral) and its Stochastic is 6 (oversold).
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.
ENS PE vs Industrials Sector
| Metric | ENS | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 24x | 38% below |
| PE % | 22 | 58 | 36 pts below |
ENS 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.
ENS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $168.1 | 12% below |
| 20 week MA | $182.0 | 19% below |
| 50 week MA | $184.5 | 20% below |
| 100 week MA | $142.3 | 3.9% above |
| 200 week MA | $118.9 | 24% above |
ENS has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 24% above its 200-week average.
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 ENS on returns for 2026, with the stronger performance.
ENS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $75.5 | $83.3 | +10% |
| 2021 | $83.3 | $77.5 | -6.9% |
| 2022 | $77.5 | $73.0 | -5.8% |
| 2023 | $73.0 | $101.0 | +38% |
| 2024 | $101.0 | $92.7 | -8.2% |
| 2025 | $92.7 | $151.0 | +63% |
| 2026 YTD | $151.0 | $147.8 | -2.1% |
ENS has finished lower in three of the last six years. It's down 2.1% so far in 2026.