CAT
Caterpillar Inc.
CAT has a slight edge over FLR overall, supported by stronger modeled upside and lower modeled downside.
FLR
Fluor Corporation
FLR 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.
FLR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Strong |
FLR's revenue and balance sheet are currently healthy, but its profitability and cash flow 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.
FLR PE Valuation
FLR 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.
FLR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for FLR, with profitability improving.
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 edge over FLR on earnings quality, reporting a profit while its opponent remains loss making.
FLR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.38 | — |
| Q3 2026 | -$6.35 | -132% |
| Q2 2026 | -$11.81 | -148% |
| Q1 2026 | $2.19 | -79% |
| Q4 2025 | -$0.31 | -103% |
| Q3 2025 | $19.77 | +1236% |
| Q2 2025 | $24.38 | +951% |
| Q1 2025 | $10.54 | +520% |
| Q4 2024 | $12.30 | +2178% |
FLR has swung to a loss: it lost $6.35 per share over the past year, after a profit the year before.
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 has the edge over FLR on sales, with more consistent year-over-year improvement.
| 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 FLR on profitability, with a higher operating margin.
FLR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.7B | +10% |
| Q2 2026 | $4.3B | +8.8% |
| Q1 2026 | $3.7B | -8% |
| Q4 2025 | $4.2B | -2% |
| Q3 2025 | $3.4B | -18% |
| Q2 2025 | $4B | -5.9% |
| Q1 2025 | $4B | +6.6% |
| Q4 2024 | $4.3B | +12% |
FLR's revenue has held roughly level: $3.7B last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6% | +21 points |
| Q2 2026 | 3.1% | +3.8 points |
| Q1 2026 | 2.5% | +0.2 points |
| Q4 2025 | 1.3% | -3.1 points |
| Q3 2025 | -15% | -16 points |
| Q2 2025 | -0.7% | -4.8 points |
| Q1 2025 | 2.3% | +0.9 points |
| Q4 2024 | 4.4% | +5 points |
FLR's operating margin was 6% last quarter, up 21 points from the same quarter a year ago, near the top 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 has the edge over FLR on cash generation, producing positive trailing cash flow while its opponent burns cash.
FLR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $178M | -35% |
| Q2 2026 | -$324M | -$289M |
| Q1 2026 | $99M | +$396M |
| Q4 2025 | -$378M | -228% |
| Q3 2025 | $273M | -2.2% |
| Q2 2025 | -$35M | -115% |
| Q1 2025 | -$297M | -$152M |
| Q4 2024 | $296M | +8.4% |
FLR's free cash flow was −$425M over the past year, against $237M 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.
FLR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3.5% | -5M shares |
| 1 year | -16% | -26M shares |
| 3 years | -7.5% | -11M shares |
| 5 years | -3.8% | -5.4M shares |
| Available history | -2.9% | -4.1M shares |
FLR has the edge over CAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $300M |
| Q2 2026 | $300M |
| Q1 2026 | $516M |
| Q4 2025 | $389M |
| Q3 2025 | $70M |
| Q2 2025 | $153M |
| Q1 2025 | $142M |
FLR spent $1.5B buying back its own shares over 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 more cash than debt.
FLR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -2.9x | Net Cash |
| Q2 2025 | -3.0x | Net Cash |
| Q1 2025 | -2.3x | Net Cash |
| Q4 2024 | -3.2x | Net Cash |
| Q3 2024 | -5.6x | Net Cash |
| Q2 2024 | -3.0x | Net Cash |
| Q1 2024 | -2.9x | Net Cash |
| Q4 2023 | -6.2x | Net Cash |
FLR has the edge over CAT on leverage, with a lower net debt burden relative to earnings.
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).
FLR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.0 | Neutral |
| Stochastic | 31.6 | Neutral |
FLR's weekly RSI is 50 (neutral) and its Stochastic is 32 (neutral).
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.
FLR PE vs Industrials Sector
| Metric | FLR | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
FLR 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 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.
FLR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $48.1 | 3% above |
| 20 week MA | $50.8 | 2.6% below |
| 50 week MA | $48.3 | 2.5% above |
| 100 week MA | $46.0 | 7.7% above |
| 200 week MA | $42.6 | 16% above |
FLR 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.
FLR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.1 | $16.5 | -9.1% |
| 2021 | $16.5 | $24.5 | +49% |
| 2022 | $24.5 | $35.2 | +43% |
| 2023 | $35.2 | $39.2 | +11% |
| 2024 | $39.2 | $50.1 | +28% |
| 2025 | $50.1 | $40.8 | -18% |
| 2026 YTD | $40.8 | $49.5 | +21% |
FLR has the edge over CAT on returns for 2026, with the stronger performance.