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.
JOBY
Joby Aviation, Inc.
There isn't enough reported data to score JOBY yet.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
JOBY Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Weak | |
| Unavailable |
JOBY's revenue is currently strong, 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.
JOBY PE Valuation
JOBY 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.
JOBY Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| Moderate |
Analysts expect JOBY's losses to grow, 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 JOBY on earnings quality, reporting a profit while its opponent remains loss making.
JOBY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.72 | +$0.62 |
| Q2 2026 | -$0.98 | +$0.09 |
| Q1 2026 | -$1.14 | -$0.30 |
| Q4 2025 | -$1.13 | -$0.26 |
| Q3 2025 | -$1.34 | -$0.66 |
| Q2 2025 | -$1.07 | -$0.60 |
| Q1 2025 | -$0.84 | -$0.10 |
| Q4 2024 | -$0.87 | -$0.08 |
JOBY is still losing money, but less than at its worst: $0.72 per share over the past year, against $1.34 at its worst in late 2025.
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 JOBY on profitability, with a higher operating margin.
JOBY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $55.1M | +144% |
| Q2 2026 | $38.6M | +257493% |
| Q4 2025 | $30.8M | +55965% |
| Q3 2025 | $22.6M | +80521% |
| Q2 2025 | $15K | -46% |
JOBY's revenue has grown year over year for five quarters in a row: $55M last quarter, up 144% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -505% | +300 points |
| Q2 2026 | -675% | +1118418 points |
| Q1 2026 | -963% | N/A |
| Q4 2025 | -671% | +271829 points |
| Q3 2025 | -805% | +558820 points |
| Q2 2025 | -1119093% | -603783 points |
| Q4 2024 | -272500% | N/A |
| Q3 2024 | -559625% | N/A |
JOBY's operating margin was −505% last quarter, up 300 points from the same quarter a year ago, near the top of its range since 2024.
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 JOBY on cash generation, producing positive trailing cash flow while its opponent burns cash.
JOBY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$193.4M | -$41.2M |
| Q2 2026 | -$201.8M | -$83.1M |
| Q1 2026 | -$222.4M | -$96.4M |
| Q4 2025 | -$167M | -$31.1M |
| Q3 2025 | -$152.2M | -$32.1M |
| Q2 2025 | -$118.7M | -$11.4M |
| Q1 2025 | -$125.9M | -$12.4M |
| Q4 2024 | -$135.9M | -$44.7M |
JOBY has burned cash in almost every quarter: −$784M over the past year, against −$533M 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 JOBY 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.
JOBY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.9% | +8.6M shares |
| 1 year | +16% | +134M shares |
| 3 years | +42% | +287M shares |
| 5 years | +62% | +375M shares |
JOBY has 979M diluted shares, up 16% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | $85,000 |
| Q4 2020 | — |
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.
JOBY Net Leverage
JOBY'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).
JOBY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.9 | Neutral |
| Stochastic | 20.7 | Neutral |
JOBY's weekly RSI is 38 (neutral) and its Stochastic is 21 (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.
JOBY PE vs Industrials Sector
JOBY 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 JOBY on trend strength, trading above more of its moving averages.
JOBY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $5.41 | 1.3% below |
| 20 week MA | $6.56 | 19% below |
| 50 week MA | $9.23 | 42% below |
| 100 week MA | $10.1 | 47% below |
| 200 week MA | $7.94 | 33% below |
JOBY is in a downtrend: it's below all five of its weekly moving averages, and 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 JOBY on returns for 2026, with the stronger performance.
JOBY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.7 | $11.8 | +9.7% |
| 2021 | $11.8 | $7.37 | -37% |
| 2022 | $7.37 | $3.35 | -55% |
| 2023 | $3.35 | $6.65 | +99% |
| 2024 | $6.65 | $8.93 | +34% |
| 2025 | $8.93 | $13.9 | +55% |
| 2026 YTD | $13.9 | $5.34 | -62% |
JOBY is down 62% so far in 2026, after finishing higher in four of the previous six years.