CAT
Caterpillar Inc.
CAT has the edge over JBLU overall, supported by stronger fundamentals and lower modeled downside.
JBLU
JetBlue Airways Corporation
JBLU 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.
JBLU Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Weak |
JBLU's revenue is currently healthy, but its profitability, cash flow and balance sheet 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.
JBLU PE Valuation
JBLU 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.
JBLU Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect JBLU's losses to shrink, with revenue growing. 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 has the edge over JBLU on earnings quality, reporting a profit while its opponent remains loss making.
JBLU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.67 | -$1.39 |
| Q2 2026 | -$2.38 | -$1.32 |
| Q1 2026 | -$1.93 | -$1.15 |
| Q4 2025 | -$1.66 | +$0.64 |
| Q3 2025 | -$1.28 | +$1.23 |
| Q2 2025 | -$1.06 | +$1.74 |
| Q1 2025 | -$0.78 | +$1.68 |
| Q4 2024 | -$2.30 | -$1.37 |
JBLU lost $2.67 per share over the past year, and its loss has widened in each of the last six quarters.
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 JBLU 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 JBLU on profitability, with a higher operating margin.
JBLU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.8B | +21% |
| Q2 2026 | $2.7B | +14% |
| Q1 2026 | $2.2B | +4.7% |
| Q4 2025 | $2.2B | -1.4% |
| Q3 2025 | $2.3B | -1.8% |
| Q2 2025 | $2.4B | -3% |
| Q1 2025 | $2.1B | -3.1% |
| Q4 2024 | $2.3B | -2.1% |
JBLU's revenue has picked up after three years of holding roughly level: $2.8B last quarter, up 21% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -5.1% | -0.8 points |
| Q2 2026 | -5.2% | -5.5 points |
| Q1 2026 | -10% | -1.9 points |
| Q4 2025 | -4.5% | -5.2 points |
| Q3 2025 | -4.3% | -2.7 points |
| Q2 2025 | 0.3% | -2.1 points |
| Q1 2025 | -8.1% | +24 points |
| Q4 2024 | 0.7% | +3.6 points |
JBLU's operating margin was −5.1% last quarter, down 0.8 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 JBLU on cash generation, producing positive trailing cash flow while its opponent burns cash.
JBLU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$465M | -$54M |
| Q2 2026 | -$377M | +$35M |
| Q1 2026 | -$6M | +$56M |
| Q4 2025 | -$287M | +$81M |
| Q3 2025 | -$411M | -$109M |
| Q2 2025 | -$412M | +$29M |
| Q1 2025 | -$62M | +$161M |
| Q4 2024 | -$368M | +$96M |
JBLU has burned cash in almost every quarter: −$1.1B over the past year, against −$1.3B 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 JBLU 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.
JBLU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +1.4M shares |
| 1 year | +3.7% | +13.6M shares |
| 3 years | +13% | +44M shares |
| 5 years | +17% | +56M shares |
| Available history | +26% | +78.9M shares |
JBLU has 377M diluted shares, up 3.7% from a year ago.
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 the edge over JBLU on leverage, with a lower net debt burden relative to earnings.
JBLU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 62.0x | High |
| Q2 2026 | 46.7x | High |
| Q1 2026 | 23.4x | High |
| Q4 2025 | 20.5x | High |
| Q3 2025 | 14.2x | High |
| Q2 2025 | 13.1x | High |
| Q1 2025 | 11.8x | High |
| Q4 2023 | 9.1x | High |
JBLU's net debt is more than 20 years of its operating earnings (EBITDA), up from 14 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).
JBLU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.6 | Neutral |
| Stochastic | 30.8 | Neutral |
JBLU's weekly RSI is 44 (neutral) and its Stochastic is 31 (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.
JBLU PE vs Industrials Sector
| Metric | JBLU | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
JBLU 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 JBLU on trend strength, trading above more of its moving averages.
JBLU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.53 | 7.9% above |
| 20 week MA | $4.58 | 17% below |
| 50 week MA | $4.88 | 22% below |
| 100 week MA | $5.06 | 25% below |
| 200 week MA | $5.70 | 33% below |
JBLU has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 33% 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 JBLU on returns for 2026, with the stronger performance.
JBLU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.9 | $14.4 | -24% |
| 2021 | $14.4 | $14.7 | +1.7% |
| 2022 | $14.7 | $6.45 | -56% |
| 2023 | $6.45 | $5.55 | -14% |
| 2024 | $5.55 | $7.80 | +41% |
| 2025 | $7.80 | $4.69 | -40% |
| 2026 YTD | $4.69 | $3.81 | -19% |
JBLU has finished lower in four of the last six years. It's down 19% so far in 2026.