CAT
Caterpillar Inc.
CAT has the edge over EQPT overall, supported by lower modeled downside and stronger modeled upside.
EQPT
EquipmentShare.com Inc.
EQPT 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.
EQPT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Under pressure | |
| Weak |
EQPT's revenue and profitability are currently healthy, but its cash flow and balance sheet are under pressure.
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.
EQPT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 21x | $15.43 | — |
| Current | 108x | $15.43 | — |
| Cheap | 167x | $23.43 | +52% |
| Fair | 210x | $29.38 | +90% |
| Expensive | 228x | $31.95 | +107% |
Historical ranges are pointers, not guarantees.
EQPT 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.
EQPT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect EQPT to return to profit, with revenue growing. However, they disagree widely on these estimates.
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.
EQPT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.72 | +414% |
| Q3 2026 | $0.14 | +$0.23 |
| Q2 2026 | $0.09 | +$0.20 |
EQPT has the edge over CAT in the latest year-over-year earnings comparison.
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 EQPT on profitability, with a higher operating margin.
EQPT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.5B | +56% |
| Q2 2026 | $1.4B | +26% |
| Q1 2026 | $989M | +38% |
| Q4 2025 | $1.6B | +1.2% |
| Q3 2025 | $943.9M | +22% |
EQPT has the edge over CAT on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8% | +1.1 points |
| Q2 2026 | 6.5% | +1 points |
| Q1 2026 | 0.1% | +1.5 points |
| Q4 2025 | 11% | +3.6 points |
| Q3 2025 | 6.9% | -1.1 points |
| Q2 2025 | 5.5% | N/A |
| Q1 2025 | -1.4% | N/A |
| Q4 2024 | 7.8% | N/A |
EQPT's operating margin was 8% last quarter, up 1.1 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 has the edge over EQPT on cash generation, producing positive trailing cash flow while its opponent burns cash.
EQPT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$37M | +$438.6M |
| Q2 2026 | -$378M | +$280.1M |
| Q1 2026 | -$576M | -$172M |
| Q4 2025 | -$256.1M | +$134.2M |
| Q3 2025 | -$475.6M | -$205.2M |
| Q2 2025 | -$658.1M | -$391.9M |
| Q1 2025 | -$404M | -$137.8M |
EQPT has burned cash in almost every quarter: −$1.2B over the past year, against −$1.9B 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 the edge over EQPT 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.
EQPT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +740K shares |
| 1 year | +1% | +2.5M shares |
EQPT has 254M diluted shares, up 1% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
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 EQPT on leverage, with a lower net debt burden relative to earnings.
EQPT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.6x | High |
| Q2 2026 | 5.5x | High |
| Q1 2026 | 5.2x | High |
| Q4 2025 | 5.5x | High |
| Q3 2025 | 7.7x | High |
| Q2 2025 | 5.8x | High |
EQPT's net debt is about 4.6 years of its operating earnings (EBITDA), down from 7.7 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).
EQPT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.1 | Neutral |
| Stochastic | 32.9 | Neutral |
EQPT's weekly RSI is 40 (neutral) and its Stochastic is 33 (neutral).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.1% below |
| PE % | 69 | 58 | 11 pts above |
CAT has the edge over EQPT on valuation relative to its sector.
EQPT PE vs Industrials Sector
| Metric | EQPT | Sector median | Relative |
|---|---|---|---|
| PE | 108x | 24x | 348% above |
EQPT is trading at 108x earnings, a 348% premium to the Industrials sector's median of 24x, though its earnings don't support one.
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 stronger trend alignment. CAT is above 2 of 5 weekly averages versus EQPT above 0 of 2.
EQPT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $16.0 | 3.4% below |
| 20 week MA | $17.7 | 13% below |
EQPT is in a downtrend: it's below all two of its weekly moving averages, and 13% below its 20-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 EQPT on returns for 2026, with the stronger performance.
EQPT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2026 YTD | $32.6 | $15.4 | -53% |
It's down 53% so far in 2026.