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.
NPWR
NET Power Inc.
There isn't enough reported data to score NPWR yet.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
NPWR Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Under pressure | |
| Unavailable | |
| Unavailable |
NPWR's revenue and profitability are currently under pressure. There isn't enough data to rate its cash flow and 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.
NPWR PE Valuation
NPWR 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 |
CAT has the edge over NPWR on the outlook, with more favorable revenue expectations.
NPWR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Decline | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect NPWR's losses to shrink, with revenue declining.
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 NPWR on earnings quality, reporting a profit while its opponent remains loss making.
NPWR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.25 | +$6.40 |
| Q2 2026 | -$6.46 | -$4.10 |
| Q1 2026 | -$5.91 | -$3.85 |
| Q4 2025 | -$7.34 | -$6.67 |
| Q3 2025 | -$7.65 | -7055% |
| Q2 2025 | -$2.36 | -$2.02 |
| Q1 2025 | -$2.06 | +$0.12 |
NPWR is still losing money, but far less than before: $1.25 per share over the past year, against $7.65 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's operating margin was 20% last quarter, up 3.1 points from the same quarter a year ago.
NPWR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2024 | $238K | +90% |
NPWR's revenue has slid since its 2024 peak: $0 last quarter.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2024 | -393708% | N/A |
| Q2 2024 | -18846% | +86357 points |
| Q2 2023 | -105203% | N/A |
| Q4 2022 | -235417% | N/A |
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 NPWR on cash generation, producing positive trailing cash flow while its opponent burns cash.
NPWR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$8.5M | +$42.6M |
| Q2 2026 | -$10.4M | +$17.3M |
| Q1 2026 | -$59.3M | -$30M |
| Q4 2025 | -$45.9M | -$3.8M |
| Q3 2025 | -$51.1M | -$21M |
| Q2 2025 | -$27.7M | -$11.8M |
| Q1 2025 | -$29.3M | -$17.1M |
| Q4 2024 | -$42.1M | -$33.7M |
NPWR has burned cash in almost every quarter: −$124M over the past year, against −$150M 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 NPWR 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.
NPWR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +167K shares |
| 1 year | +14% | +10.7M shares |
| 3 years | +28% | +19.6M shares |
NPWR has 89M diluted shares, up 14% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q2 2023 | $219M |
| Q4 2022 | — |
| Q3 2021 | — |
| Q2 2021 | — |
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.
NPWR Net Leverage
NPWR'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).
NPWR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 28.5 | Oversold |
| Stochastic | 2.5 | Oversold |
NPWR's weekly RSI is 28 (oversold) 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.
NPWR PE vs Industrials Sector
| Metric | NPWR | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
NPWR 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 NPWR on trend strength, trading above more of its moving averages.
NPWR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.07 | 29% below |
| 20 week MA | $1.44 | 47% below |
| 50 week MA | $1.80 | 58% below |
| 100 week MA | $2.97 | 74% below |
| 200 week MA | $6.84 | 89% below |
NPWR is in a downtrend: it's below all five of its weekly moving averages, and 89% 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 NPWR on returns for 2026, with the stronger performance.
NPWR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $9.85 | $10.0 | +1.9% |
| 2022 | $10.0 | $10.2 | +1.9% |
| 2023 | $10.2 | $10.1 | -1.3% |
| 2024 | $10.1 | $10.3 | +2.3% |
| 2025 | $10.3 | $2.19 | -79% |
| 2026 YTD | $2.19 | $0.76 | -65% |
NPWR is down 65% so far in 2026, after finishing higher in three of the previous five years.