CAT
Caterpillar Inc.
CAT has a slight edge over MTZ overall, supported by lower modeled downside and stronger modeled upside.
MTZ
MasTec, Inc.
MTZ 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.
MTZ Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Stable |
MTZ's revenue and profitability are currently healthy, and its cash flow and balance sheet are 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 has the edge over MTZ in the historical PE scenario, which offers more potential upside but is not a forecast.
MTZ PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $91.45 | -51% |
| Forward | 16x | $185 | — |
| Current | 30x | $185 | — |
| Fair | 32x | $195 | +5.1% |
| Expensive | 68x | $416 | +125% |
Historical ranges are pointers, not guarantees.
MTZ's PE is in its fair range at 30x. If earnings grow as analysts expect, today's price would be 16x next year's earnings, in its cheap range.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
CAT has the edge over MTZ on the outlook, with more favorable profitability expectations.
MTZ Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for MTZ, with profitability holding steady. 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 earned $25.48 per share over the past year, up 31% from the year before.
MTZ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $11.54 | +89% |
| Q3 2026 | $6.12 | +45% |
| Q2 2026 | $6.27 | +86% |
| Q1 2026 | $5.71 | +110% |
| Q4 2025 | $5.07 | +146% |
| Q3 2025 | $4.21 | +269% |
| Q2 2025 | $3.38 | +2973% |
| Q1 2025 | $2.72 | +$2.84 |
| Q4 2024 | $2.06 | +$2.70 |
MTZ 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 MTZ on profitability, with a higher operating margin.
MTZ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.2B | +30% |
| Q2 2026 | $4.4B | +23% |
| Q1 2026 | $3.8B | +34% |
| Q4 2025 | $3.9B | +16% |
| Q3 2025 | $4B | +22% |
| Q2 2025 | $3.5B | +20% |
| Q1 2025 | $2.8B | +6% |
| Q4 2024 | $3.4B | +3.8% |
MTZ has the edge over CAT on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.3% | 0 points |
| Q2 2026 | 5.2% | +1.8 points |
| Q1 2026 | 3.7% | +3.4 points |
| Q4 2025 | 4.4% | +1.6 points |
| Q3 2025 | 5.3% | +1.1 points |
| Q2 2025 | 3.4% | +1.3 points |
| Q1 2025 | 0.3% | +2 points |
| Q4 2024 | 2.8% | +2.8 points |
MTZ's operating margin was 5.3% last quarter, about level with 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 MTZ on cash flow, with more consistent year-over-year improvement.
MTZ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $180.1M | +789% |
| Q2 2026 | -$70.1M | -$11.9M |
| Q1 2026 | $2.1M | -93% |
| Q4 2025 | $292.5M | -31% |
| Q3 2025 | $20.3M | -91% |
| Q2 2025 | -$58.2M | -125% |
| Q1 2025 | $31.1M | -62% |
| Q4 2024 | $423.4M | -7% |
MTZ still generates free cash flow, though less than at its 2023 peak: $405M 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 MTZ 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.
MTZ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +950K shares |
| 1 year | +1.5% | +1.2M shares |
| 3 years | +1.7% | +1.4M shares |
| 5 years | +7.9% | +5.8M shares |
| Available history | +5.2% | +4M shares |
MTZ has 80M diluted shares, up 1.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $50.5M |
| Q1 2025 | $26.8M |
| Q4 2023 | — |
MTZ hasn't bought back shares in the past year.
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 MTZ on leverage, with a lower net debt burden relative to earnings.
MTZ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.7x | Moderate |
| Q2 2026 | 2.0x | Moderate |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 2.1x | Moderate |
| Q3 2025 | 2.5x | Moderate |
| Q2 2025 | 2.6x | Moderate |
| Q1 2025 | 2.4x | Moderate |
| Q4 2024 | 2.4x | Moderate |
MTZ's net debt is about 2.7 years of its operating earnings (EBITDA), up from 2.5 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).
MTZ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.5 | Neutral |
| Stochastic | 17.1 | Oversold |
MTZ's weekly RSI is 33 (neutral) and its Stochastic is 17 (oversold).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.3% below |
| PE % | 69 | 58 | 11 pts above |
CAT has the edge over MTZ on valuation relative to its sector.
MTZ PE vs Industrials Sector
| Metric | MTZ | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 24x | 26% above |
| PE % | 49 | 58 | 9 pts below |
MTZ is trading at 30x earnings, a 26% premium to the Industrials sector's median of 24x.
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 MTZ on trend strength, trading above more of its moving averages.
MTZ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $193.6 | 4.4% below |
| 20 week MA | $249.7 | 26% below |
| 50 week MA | $286.1 | 35% below |
| 100 week MA | $224.3 | 17% below |
| 200 week MA | $160.4 | 15% above |
MTZ has fallen below most of its moving averages, though it's still 15% above 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 MTZ on returns for 2026, with the stronger performance.
MTZ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $63.8 | $69.9 | +9.6% |
| 2021 | $69.9 | $91.3 | +31% |
| 2022 | $91.3 | $85.0 | -6.9% |
| 2023 | $85.0 | $75.7 | -11% |
| 2024 | $75.7 | $135.7 | +79% |
| 2025 | $135.7 | $224.4 | +65% |
| 2026 YTD | $224.4 | $185.1 | -18% |
MTZ has finished higher in four of the last six years, two of them by more than 50%. It's down 18% so far in 2026.