CAT
Caterpillar Inc.
CAT's fundamentals are strong, but it looks expensive: trading at 24x earnings, above its usual 18x. Analysts expect strong earnings growth, though they disagree widely on how much.
EVTL
Vertical Aerospace Ltd.
There isn't enough reported data to score EVTL yet.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
EVTL Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Weak | |
| Unavailable | |
| Strong |
EVTL's balance sheet is currently strong, but its profitability is weak. There isn't enough data to rate its revenue and cash flow.
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.
EVTL PE Valuation
EVTL has no meaningful PE right now: it lost money over the past year.
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.
EVTL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| -- | |
| -- | |
| Limited | |
| Low |
Analysts expect EVTL's earnings, revenue and profitability to hold roughly steady. 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.
EVTL Earnings Per Share
EVTL and CAT do not have enough comparable growth data to identify a winner.
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.
EVTL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2021 | $87.8K | +247% |
| Q2 2021 | $87.8K | +203% |
| Q4 2020 | $25.3K | -46% |
| Q2 2020 | $28.9K | -38% |
EVTL's revenue is shrinking: $0 last quarter.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2021 | -386670% | -376030 points |
| Q2 2021 | -33389% | -22749 points |
| Q4 2020 | -11576% | N/A |
| Q2 2020 | -19949% | N/A |
| Q4 2019 | -10640% | N/A |
| Q2 2019 | -10640% | N/A |
EVTL's operating margin was −386670% last quarter, down 376030 points from the same quarter a year ago, near the bottom 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.
EVTL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$63.5M | -$55.7M |
| Q1 2026 | -$48.6M | -$21.1M |
| Q4 2025 | -$41.3M | -$13.9M |
| Q2 2025 | -$7.8M | -133% |
| Q4 2024 | -$27.5M | +$41.4M |
| Q2 2024 | $23.6M | +$76.1M |
| Q4 2023 | -$68.9M | -$5.6M |
| Q2 2023 | -$52.5M | -$52.5M |
EVTL has burned cash in almost every quarter: −$198M over the past year, against −$39M 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 EVTL 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.
EVTL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -6.7% | -9.5M shares |
| 1 year | +62% | +50.7M shares |
| 3 years | +899% | +120M shares |
EVTL has 133M diluted shares, up 62% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q2 2024 | — |
EVTL hasn't bought back shares in the past year.
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 EVTL on leverage, with a lower net debt burden relative to earnings.
EVTL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.9x | Very low |
| Q4 2025 | 1.1x | Healthy |
EVTL'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).
EVTL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 27.8 | Oversold |
| Stochastic | 5.9 | Oversold |
EVTL's weekly RSI is 28 (oversold) 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.
EVTL PE vs Industrials Sector
EVTL has no meaningful PE right now: it lost money over the past year.
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 the edge over EVTL on trend strength, trading above more of its moving averages.
EVTL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.48 | 21% below |
| 20 week MA | $0.84 | 55% below |
| 50 week MA | $2.63 | 86% below |
| 100 week MA | $4.07 | 91% below |
| 200 week MA | $7.71 | 95% below |
EVTL is in a downtrend: it's below all five of its weekly moving averages, and 95% below 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 EVTL on returns for 2026, with the stronger performance.
EVTL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $97.0 | $99.6 | +2.7% |
| 2021 | $99.6 | $100.5 | +0.9% |
| 2022 | $100.5 | $34.0 | -66% |
| 2023 | $34.0 | $6.88 | -80% |
| 2024 | $6.88 | $15.5 | +125% |
| 2025 | $15.5 | $5.50 | -65% |
| 2026 YTD | $5.50 | $0.38 | -93% |
EVTL's yearly returns have swung widely, from +125% in 2024 to −80% in 2023. It's down 93% so far in 2026.