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.
GHM
Graham Corporation
GHM's fundamentals are mixed: revenue grew 16%, but its operating margin fell 1 points to 6%. At 75x earnings, it's trading above its usual 67x. Analysts expect strong earnings growth, though they disagree widely on how much.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
GHM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Healthy | |
| Strong |
GHM's revenue, cash flow and balance sheet are currently healthy, and its profitability is stable.
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.
GHM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 48x | $85.95 | — |
| Cheap | 50x | $56.44 | -34% |
| Fair | 67x | $76.29 | -11% |
| Current | 75x | $85.95 | — |
| Expensive | 100x | $114 | +33% |
Historical ranges are pointers, not guarantees.
GHM 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 | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for CAT, with profitability improving. However, they disagree widely on these estimates.
GHM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for GHM, with profitability improving. However, they disagree widely on these estimates.
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 earned $25.48 per share over the past year, up 31% from the year before.
GHM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.78 | +56% |
| Q3 2026 | $1.14 | -8.1% |
| Q2 2026 | $1.03 | -18% |
| Q1 2026 | $1.12 | +0.9% |
| Q4 2025 | $1.35 | +65% |
| Q3 2025 | $1.24 | +77% |
| Q2 2025 | $1.26 | +186% |
| Q1 2025 | $1.11 | +164% |
| Q4 2024 | $0.82 | +204% |
GHM has the edge over CAT on earnings, with more consistent year-over-year improvement.
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 GHM on profitability, with a higher operating margin.
GHM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $69.8M | +5.7% |
| Q2 2026 | $71.3M | +29% |
| Q1 2026 | $67.1M | +13% |
| Q4 2025 | $56.7M | +21% |
| Q3 2025 | $66M | +23% |
| Q2 2025 | $55.5M | +11% |
| Q1 2025 | $59.3M | +21% |
| Q4 2024 | $47M | +7.3% |
GHM has the edge over CAT on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.4% | +1.9 points |
| Q2 2026 | 5.8% | -3.1 points |
| Q1 2026 | 4% | -5.3 points |
| Q4 2025 | 5.5% | +0.8 points |
| Q3 2025 | 6.5% | -1.4 points |
| Q2 2025 | 8.9% | +2.5 points |
| Q1 2025 | 9.3% | +6.2 points |
| Q4 2024 | 4.7% | +2.6 points |
GHM's operating margin was 8.4% last quarter, up 1.9 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 GHM on cash flow, with more consistent year-over-year improvement.
GHM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $44.5M | +371% |
| Q2 2026 | -$15.3M | -$6M |
| Q1 2026 | -$2.7M | +$6M |
| Q4 2025 | $2.4M | +$4.5M |
| Q3 2025 | $9.4M | -9.6% |
| Q2 2025 | -$9.3M | -261% |
| Q1 2025 | -$8.7M | -289% |
| Q4 2024 | -$2.1M | -137% |
GHM's free cash flow has turned positive again: $29M over the past year, against −$11M 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 GHM 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.
GHM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +145K shares |
| 1 year | +6.5% | +720K shares |
| 3 years | +9.7% | +1M shares |
| 5 years | +11% | +1.2M shares |
| Available history | +20% | +2M shares |
GHM has 12M diluted shares, up 6.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | $44,000 |
| Q2 2024 | $810,000 |
| Q1 2024 | $1,000 |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | $57,000 |
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.
GHM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -2.8x | Net Cash |
| Q2 2026 | -1.2x | Net Cash |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | -0.9x | Net Cash |
| Q3 2025 | -0.9x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -1.0x | Net Cash |
| Q4 2024 | -1.8x | Net Cash |
GHM 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).
GHM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.2 | Neutral |
| Stochastic | 28.4 | Neutral |
GHM's weekly RSI is 49 (neutral) and its Stochastic is 28 (neutral).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.3% below |
| PE % | 69 | 58 | 11 pts above |
CAT has the edge over GHM on valuation relative to its sector.
GHM PE vs Industrials Sector
| Metric | GHM | Sector median | Relative |
|---|---|---|---|
| PE | 75x | 24x | 213% above |
| PE % | 68 | 58 | 10 pts above |
GHM is trading at 75x earnings, a 213% premium to the Industrials sector's median of 24x.
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.
GHM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $78.7 | 9.2% above |
| 20 week MA | $91.7 | 6.2% below |
| 50 week MA | $87.8 | 2.1% below |
| 100 week MA | $66.5 | 29% above |
| 200 week MA | $44.2 | 95% above |
GHM 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.
GHM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.0 | $14.8 | -33% |
| 2021 | $14.8 | $12.7 | -14% |
| 2022 | $12.7 | $9.72 | -23% |
| 2023 | $9.72 | $19.0 | +95% |
| 2024 | $19.0 | $44.2 | +133% |
| 2025 | $44.2 | $71.5 | +62% |
| 2026 YTD | $71.5 | $86.0 | +20% |
GHM has the edge over CAT on returns for 2026, with the stronger performance.