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.
LICN
Lichen International Limited
There isn't enough reported data to score LICN yet.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
LICN Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Weak | |
| Unavailable | |
| Strong |
LICN's balance sheet is currently strong, but its profitability is weak. There isn't enough data to rate its revenue and cash flow.
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.
LICN PE Valuation
LICN 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.
LICN Forward outlook
There aren't enough analyst estimates for LICN to show an outlook.
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.
LICN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2025 | -$73.25 | -222% |
| Q4 2024 | -$34.79 | -154% |
LICN and CAT do not have enough comparable growth data to identify a winner.
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 LICN in the latest year-over-year revenue comparison.
| 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 LICN on profitability, with a higher operating margin.
LICN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $10.3M | -28% |
| Q4 2025 | $10.3M | -56% |
| Q2 2025 | $14.3M | -21% |
| Q4 2024 | $23.4M | -1.9% |
| Q2 2024 | $18.1M | +14% |
| Q4 2023 | $23.8M | +35% |
| Q2 2023 | $15.9M | -1.4% |
| Q4 2022 | $17.7M | +2% |
LICN's revenue has slid since its 2023 peak: $10M last quarter, down 43% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -85% | -94 points |
| Q4 2025 | -89% | -129 points |
| Q2 2025 | -37% | -55 points |
| Q4 2024 | -27% | -54 points |
| Q2 2024 | 9.4% | -26 points |
| Q4 2023 | 39% | +13 points |
| Q2 2023 | 18% | -21 points |
| Q4 2022 | 28% | -2.8 points |
LICN's operating margin was −85% last quarter, down 94 points from the same quarter a year ago, near the bottom of its range since 2014.
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.
LICN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2023 | -$1.7M | -146% |
| Q2 2023 | -$956K | -119% |
| Q4 2022 | $3.7M | -1.4% |
| Q2 2022 | $5.2M | +45% |
| Q4 2021 | $3.7M | -31% |
| Q2 2021 | $3.6M | +21% |
| Q4 2020 | $5.4M | +295% |
| Q2 2020 | $2.9M | +114% |
LICN's free cash flow has turned negative after years in the green: −$19M 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 LICN 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.
LICN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +10881% | +16.2M shares |
| 3 years | -27% | -6.2M shares |
| 5 years | -43% | -12.4M shares |
LICN has 16M diluted shares, up 10881% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q4 2025 | — |
| Q4 2022 | — |
| Q2 2022 | — |
| Q4 2021 | — |
| Q2 2021 | — |
| Q4 2020 | — |
| Q2 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.
LICN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2023 | -1.6x | Net Cash |
LICN has more cash than debt.
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).
LICN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.7 | Neutral |
| Stochastic | 1.5 | Oversold |
LICN's weekly RSI is 34 (neutral) and its Stochastic is 2 (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.
LICN PE vs Industrials Sector
| Metric | LICN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
LICN 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 stronger trend alignment. CAT is above 2 of 5 weekly averages versus LICN above 0 of 4.
LICN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.75 | 95% below |
| 20 week MA | $1.03 | 96% below |
| 50 week MA | $2.48 | 98% below |
| 100 week MA | $5.66 | 99% below |
LICN is in a downtrend: it's below all four of its weekly moving averages, and 99% below its 100-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 LICN on returns for 2026, with the stronger performance.
LICN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $820.0 | $396.0 | -52% |
| 2024 | $396.0 | $46.4 | -88% |
| 2025 | $46.4 | $2.97 | -94% |
| 2026 YTD | $2.97 | $0.04 | -99% |
LICN has finished every year since 2023 lower, and it's down 99% so far in 2026.