CAT
Caterpillar Inc.
CAT has the edge over HTZ overall, supported by lower modeled downside and stronger modeled upside.
HTZ
Hertz Global Holdings, Inc.
HTZ 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.
HTZ Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Weak |
HTZ's revenue, profitability and cash flow are currently stable, but its balance sheet is weak.
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.
HTZ PE Valuation
HTZ 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.
HTZ Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect HTZ's losses to shrink, with revenue growing.
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 HTZ on earnings quality, reporting a profit while its opponent remains loss making.
HTZ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.27 | +$2.27 |
| Q2 2026 | -$1.05 | +$7.25 |
| Q1 2026 | -$2.05 | +$8.12 |
| Q4 2025 | -$2.43 | +$6.91 |
| Q3 2025 | -$3.54 | +$4.81 |
| Q2 2025 | -$8.30 | -$5.21 |
| Q1 2025 | -$10.17 | -6082% |
| Q4 2024 | -$9.34 | -772% |
HTZ is still losing money, but far less than before: $1.27 per share over the past year, against $11.44 at its worst in late 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 HTZ 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 HTZ on profitability, with a higher operating margin.
HTZ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +5.6% |
| Q2 2026 | $2.4B | +9.7% |
| Q1 2026 | $2B | +11% |
| Q4 2025 | $2B | -0.6% |
| Q3 2025 | $2.5B | -3.8% |
| Q2 2025 | $2.2B | -7.1% |
| Q1 2025 | $1.8B | -13% |
| Q4 2024 | $2B | -6.6% |
HTZ's revenue is growing: $2.6B last quarter, up 5.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.3% | -6.1 points |
| Q2 2026 | 3% | +17 points |
| Q1 2026 | -15% | +14 points |
| Q4 2025 | -11% | +17 points |
| Q3 2025 | 9.4% | +72 points |
| Q2 2025 | -14% | +5.6 points |
| Q1 2025 | -29% | -1 points |
| Q4 2024 | -28% | -5 points |
HTZ's operating margin was 3.3% 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 HTZ on cash flow, with more consistent year-over-year improvement.
HTZ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $572M | -29% |
| Q2 2026 | $353M | +9% |
| Q1 2026 | -$9M | -104% |
| Q4 2025 | $166M | -57% |
| Q3 2025 | $809M | -7.2% |
| Q2 2025 | $324M | -38% |
| Q1 2025 | $229M | -32% |
| Q4 2024 | $390M | -26% |
HTZ still generates free cash flow, though less than at its 2022 peak: $1.1B over the past year.
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 HTZ 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.
HTZ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +14% | +57M shares |
| 1 year | +30% | +111M shares |
| 3 years | +45% | +148M shares |
| 5 years | +197% | +315M shares |
| Available history | +306% | +358M shares |
HTZ has 475M diluted shares, up 30% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | $43M |
| Q3 2023 | $50M |
| Q2 2023 | $104M |
| Q1 2023 | $118M |
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.
HTZ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2023 | 34.3x | High |
| Q3 2023 | -0.6x | Net Cash |
| Q2 2023 | -0.6x | Net Cash |
| Q1 2023 | -0.4x | Net Cash |
| Q4 2022 | 5.0x | High |
| Q3 2022 | -0.4x | Net Cash |
| Q2 2022 | -0.4x | Net Cash |
| Q1 2022 | -1.3x | Net Cash |
HTZ's net debt is more than 20 years of its operating earnings (EBITDA), up from 5.0 years a year ago.
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).
HTZ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.0 | Neutral |
| Stochastic | 16.0 | Oversold |
HTZ's weekly RSI is 34 (neutral) and its Stochastic is 16 (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.
HTZ PE vs Industrials Sector
| Metric | HTZ | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
HTZ 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 HTZ on trend strength, trading above more of its moving averages.
HTZ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.79 | 14% below |
| 20 week MA | $1.94 | 21% below |
| 50 week MA | $3.87 | 60% below |
| 100 week MA | $4.69 | 67% below |
| 200 week MA | $7.35 | 79% below |
HTZ is in a downtrend: it's below all five of its weekly moving averages, and 79% 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 HTZ on returns for 2026, with the stronger performance.
HTZ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $24.0 | $24.0 | +0.2% |
| 2022 | $24.0 | $15.2 | -37% |
| 2023 | $15.2 | $10.4 | -32% |
| 2024 | $10.4 | $3.62 | -65% |
| 2025 | $3.62 | $5.36 | +48% |
| 2026 YTD | $5.36 | $1.54 | -71% |
HTZ has finished lower in three of the last five years. It's down 71% so far in 2026.