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.
FTEK
Fuel Tech, Inc.
There isn't enough reported data to score FTEK yet.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
FTEK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
FTEK's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
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.
FTEK PE Valuation
FTEK 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.
FTEK Forward outlook
There aren't enough analyst estimates for FTEK 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 edge over FTEK on earnings quality, reporting a profit while its opponent remains loss making.
FTEK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.14 | -$0.05 |
| Q2 2026 | -$0.12 | -$0.02 |
| Q1 2026 | -$0.10 | -$0.01 |
| Q4 2025 | -$0.08 | -$0.02 |
| Q3 2025 | -$0.09 | -$0.07 |
| Q2 2025 | -$0.10 | -$0.09 |
| Q1 2025 | -$0.09 | -$0.06 |
| Q4 2024 | -$0.06 | -$0.01 |
FTEK is still losing money, but far less than before: $0.14 per share over the past year, against $0.43 at its worst in mid-2020.
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 FTEK 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 FTEK on profitability, with a higher operating margin.
FTEK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $8.7M | +16% |
| Q2 2026 | $6.5M | +17% |
| Q1 2026 | $6.1M | -4.7% |
| Q4 2025 | $7.2M | +37% |
| Q3 2025 | $7.5M | -4.6% |
| Q2 2025 | $5.6M | -21% |
| Q1 2025 | $6.4M | +29% |
| Q4 2024 | $5.3M | -17% |
FTEK's revenue is growing: $9M last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -6% | -6.1 points |
| Q2 2026 | -24% | -0.6 points |
| Q1 2026 | -26% | -11 points |
| Q4 2025 | -20% | +20 points |
| Q3 2025 | 0.1% | +2.3 points |
| Q2 2025 | -24% | -13 points |
| Q1 2025 | -15% | +19 points |
| Q4 2024 | -40% | -27 points |
FTEK's operating margin was −6% last quarter, down 6.1 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 FTEK on cash generation, producing positive trailing cash flow while its opponent burns cash.
FTEK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.8M | -160% |
| Q2 2026 | -$971K | -$914K |
| Q1 2026 | -$1.2M | -181% |
| Q4 2025 | -$2M | -$300K |
| Q3 2025 | $3M | +287% |
| Q2 2025 | -$57K | +$1.6M |
| Q1 2025 | $1.4M | +$2.6M |
| Q4 2024 | -$1.7M | -2043% |
FTEK has burned cash in most quarters: −$6M over the past year, against $3M 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 FTEK 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.
FTEK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +36K shares |
| 1 year | -0.2% | -76K shares |
| 3 years | +1.9% | +590K shares |
| 5 years | +2.9% | +882K shares |
| Available history | +29% | +7M shares |
FTEK has 31M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $11,000 |
| Q1 2026 | $34,000 |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $198,000 |
| Q1 2025 | $24,000 |
| Q4 2024 | — |
FTEK spent $45,000 buying back its own shares over the past year, down 80% 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 more cash than debt.
FTEK Net Leverage
FTEK's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
FTEK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.1 | Neutral |
| Stochastic | 14.9 | Oversold |
FTEK's weekly RSI is 43 (neutral) and its Stochastic is 15 (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.
FTEK PE vs Industrials Sector
FTEK 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 FTEK on trend strength, trading above more of its moving averages.
FTEK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.50 | 9.3% below |
| 20 week MA | $1.54 | 12% below |
| 50 week MA | $1.50 | 9.3% below |
| 100 week MA | $1.68 | 19% below |
| 200 week MA | $1.42 | 4.2% below |
FTEK is in a downtrend: it's below all five of its weekly moving averages, and 4.2% 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 FTEK on returns for 2026, with the stronger performance.
FTEK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $0.86 | $4.81 | +459% |
| 2021 | $4.81 | $1.53 | -68% |
| 2022 | $1.53 | $1.33 | -13% |
| 2023 | $1.33 | $1.05 | -21% |
| 2024 | $1.05 | $1.07 | +1.9% |
| 2025 | $1.07 | $1.63 | +52% |
| 2026 YTD | $1.63 | $1.36 | -17% |
FTEK's yearly returns have swung widely, from +459% in 2020 to −68% in 2021. It's down 17% so far in 2026.