CAT
Caterpillar Inc.
CAT has the edge over FBYD overall, supported by stronger fundamentals.
FBYD
Falcon's Beyond Global, Inc. Class A Common Stock
FBYD 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.
FBYD Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Weak |
FBYD's revenue is currently healthy, but its profitability, 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.
FBYD PE Valuation
FBYD has no meaningful PE right now: it lost money over the past year.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for CAT, with profitability improving. However, they disagree widely on these estimates.
FBYD Forward outlook
There aren't enough analyst estimates for FBYD to show an outlook.
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 has the stronger earnings trend. Trailing diluted EPS is up 31% for CAT versus FBYD down 101%.
FBYD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q1 2024 | -$4.88 | -$2.96 |
| Q4 2023 | -$7.38 | -$6.58 |
| Q3 2023 | -$2.03 | -$1.35 |
| Q2 2023 | -$2.85 | -$2.56 |
| Q1 2023 | -$1.92 | -$1.82 |
| Q4 2022 | -$0.80 | -$0.80 |
FBYD is still losing money, but far less than before: $0.06 per share over the past year, against $7.38 at its worst in late 2023.
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 FBYD on profitability, with a higher operating margin.
FBYD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.3M | +80% |
| Q2 2026 | $5.6M | +120% |
| Q1 2026 | $5.4M | +215% |
| Q4 2025 | $6.6M | +383% |
| Q3 2025 | $4.1M | +96% |
| Q2 2025 | $2.5M | +42% |
| Q1 2025 | $1.7M | +13% |
| Q3 2024 | $2.1M | +31% |
FBYD has the edge over CAT on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -46% | +45 points |
| Q2 2026 | -4.7% | +48 points |
| Q1 2026 | 121% | +492 points |
| Q4 2025 | -31% | +305 points |
| Q3 2025 | -91% | +28 points |
| Q2 2025 | -53% | +143 points |
| Q1 2025 | -371% | -21 points |
| Q4 2024 | -336% | N/A |
FBYD's operating margin was −46% last quarter, up 45 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 FBYD on cash generation, producing positive trailing cash flow while its opponent burns cash.
FBYD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.4M | +$15.8M |
| Q2 2026 | $2.4M | +$10.3M |
| Q1 2026 | -$2.8M | -424% |
| Q4 2025 | -$4.3M | -$547K |
| Q3 2025 | -$13.4M | -$11M |
| Q2 2025 | -$7.9M | -$5.3M |
| Q1 2025 | $853K | +$4.6M |
| Q3 2024 | -$2.4M | +$1.5M |
FBYD has burned cash in almost every quarter: −$2M over the past year, against −$24M 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 FBYD 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.
FBYD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +73.1K shares |
| 1 year | +32% | +11.9M shares |
| 3 years | +519% | +41.4M shares |
| 5 years | +78% | +21.6M shares |
FBYD has 49M diluted shares, up 32% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
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 FBYD on leverage, with a lower net debt burden relative to earnings.
FBYD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 10.4x | High |
| Q2 2026 | 12.4x | High |
FBYD's net debt is about 10 years 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).
FBYD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.2 | Neutral |
| Stochastic | 11.2 | Oversold |
FBYD's weekly RSI is 37 (neutral) and its Stochastic is 11 (oversold).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.3% below |
| PE % | 69 | 58 | 11 pts above |
CAT is trading at 24x earnings, in line with the Industrials sector's median of 24x.
FBYD PE vs Industrials Sector
| Metric | FBYD | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
FBYD 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 stronger trend alignment. CAT is above 2 of 5 weekly averages versus FBYD above 0 of 4.
FBYD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $7.56 | 26% below |
| 20 week MA | $9.38 | 40% below |
| 50 week MA | $10.7 | 48% below |
| 100 week MA | $9.54 | 41% below |
FBYD is in a downtrend: it's below all four of its weekly moving averages, and 41% below its 100-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 FBYD on returns for 2026, with the stronger performance.
FBYD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $14.5 | $10.3 | -29% |
| 2024 | $10.3 | $8.10 | -21% |
| 2025 | $8.10 | $17.0 | +109% |
| 2026 YTD | $17.0 | $5.59 | -67% |
FBYD has finished lower in two of the last three years. It's down 67% so far in 2026.