CAT
Caterpillar Inc.
CAT has the edge over GIC overall, supported by stronger modeled upside and lower modeled downside.
GIC
Global Industrial Company
GIC 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.
GIC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
GIC's profitability, cash flow and balance sheet are currently healthy, and its revenue 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.
GIC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 13x | $30.59 | -35% |
| Fair | 18x | $42.00 | -11% |
| Expensive | 20x | $48.57 | +3.3% |
| Current | 20x | $47.03 | — |
| Forward | 23x | $47.03 | — |
Historical ranges are pointers, not guarantees.
GIC 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 |
CAT has the edge over GIC on the outlook, with more favorable valuation and profitability expectations.
GIC Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for GIC, with profitability holding steady.
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.
GIC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.07 | -13% |
| Q3 2026 | $2.39 | +36% |
| Q2 2026 | $2.23 | +30% |
| Q1 2026 | $1.92 | +21% |
| Q4 2025 | $1.85 | +17% |
| Q3 2025 | $1.76 | +4.1% |
| Q2 2025 | $1.72 | -3.9% |
| Q1 2025 | $1.59 | -13% |
| Q4 2024 | $1.58 | -14% |
GIC 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 GIC on profitability, with a higher operating margin.
GIC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $389.5M | +10% |
| Q2 2026 | $386.6M | +7.7% |
| Q1 2026 | $350.4M | +9.2% |
| Q4 2025 | $345.6M | +14% |
| Q3 2025 | $353.6M | +3.3% |
| Q2 2025 | $358.9M | +3.2% |
| Q1 2025 | $321M | -0.7% |
| Q4 2024 | $302.3M | -5.6% |
GIC's revenue has grown year over year for six quarters in a row: $390M last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.4% | +1 points |
| Q2 2026 | 13% | +3.4 points |
| Q1 2026 | 5.9% | +0.2 points |
| Q4 2025 | 5.7% | +0.9 points |
| Q3 2025 | 7.4% | +1 points |
| Q2 2025 | 9.3% | +1.7 points |
| Q1 2025 | 5.7% | +0.3 points |
| Q4 2024 | 4.8% | -1.9 points |
GIC's operating margin was 8.4% last quarter, up 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 generated $11.3B in free cash flow over the past year, up 26% from the year before.
GIC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $43.3M | +97% |
| Q2 2026 | $40.5M | +34% |
| Q1 2026 | $5.6M | +75% |
| Q4 2025 | $19.2M | +26% |
| Q3 2025 | $22M | +153% |
| Q2 2025 | $30.3M | +69% |
| Q1 2025 | $3.2M | -37% |
| Q4 2024 | $15.2M | +97% |
GIC has the edge over CAT on cash flow, with more consistent year-over-year improvement.
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 GIC 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.
GIC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -0.8% | -300K shares |
| 3 years | 0% | -- |
| 5 years | +0.5% | +200K shares |
| Available history | +1.3% | +500K shares |
GIC has 38M diluted shares, down 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $4.7M |
| Q1 2026 | $900,000 |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | $200,000 |
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.
GIC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.9x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -0.6x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.6x | Net Cash |
| Q1 2025 | -0.4x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
GIC 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).
GIC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 76.8 | Overbought |
| Stochastic | 71.7 | Neutral |
GIC's weekly RSI is 77 (overbought) and its Stochastic is 72 (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.
GIC PE vs Industrials Sector
| Metric | GIC | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 24x | 18% below |
| PE % | 79 | 58 | 21 pts above |
GIC has the edge over CAT on valuation relative to its sector.
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.
GIC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.2 | 6.5% above |
| 20 week MA | $40.1 | 17% above |
| 50 week MA | $34.8 | 35% above |
| 100 week MA | $31.4 | 50% above |
| 200 week MA | $32.1 | 47% above |
GIC 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.
GIC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.5 | $36.3 | +42% |
| 2021 | $36.3 | $41.2 | +14% |
| 2022 | $41.2 | $23.8 | -42% |
| 2023 | $23.8 | $38.8 | +63% |
| 2024 | $38.8 | $24.8 | -36% |
| 2025 | $24.8 | $30.1 | +22% |
| 2026 YTD | $30.1 | $47.0 | +56% |
GIC has the edge over CAT on returns for 2026, with the stronger performance.