CAT
Caterpillar Inc.
CAT has the edge over OC overall, supported by stronger fundamentals and stronger modeled upside.
OC
Owens Corning
OC 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.
OC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Stable | |
| Weak |
OC's revenue and cash flow are currently stable, but its profitability 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.
OC PE Valuation
OC has no meaningful PE right now: it lost money over the past year.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Low |
CAT has the edge over OC on the outlook, with more favorable earnings and revenue expectations.
OC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Decline | |
| Stable | |
| Weakening | |
| Limited | |
| Low |
Analysts expect OC's earnings and profitability to decline, with its revenue holding steady. However, they disagree widely on these estimates.
CAT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $29.73 | +17% |
| 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 OC on earnings quality, reporting a profit while its opponent remains loss making.
OC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.80 | — |
| Q3 2026 | -$5.14 | +$0.53 |
| Q2 2026 | -$7.88 | -302% |
| Q1 2026 | -$6.43 | -322% |
| Q4 2025 | -$6.22 | -184% |
| Q3 2025 | -$5.67 | -148% |
| Q2 2025 | $3.90 | -67% |
| Q1 2025 | $2.89 | -77% |
| Q4 2024 | $7.37 | -44% |
OC lost $5.14 per share over the past year, about the same as its loss the year before.
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 OC 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 OC on profitability, with a higher operating margin.
OC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.5B | -7.3% |
| Q2 2026 | $2.8B | +0.3% |
| Q1 2026 | $2.3B | -10% |
| Q4 2025 | $2.1B | -25% |
| Q3 2025 | $2.7B | -12% |
| Q2 2025 | $2.7B | -1.5% |
| Q1 2025 | $2.5B | +10% |
| Q4 2024 | $2.8B | +23% |
OC's revenue has slid since its 2024 peak: $2.5B last quarter, down 7.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -6.1% | +6.1 points |
| Q2 2026 | 17% | -0.9 points |
| Q1 2026 | 5.3% | -11 points |
| Q4 2025 | -11% | -2 points |
| Q3 2025 | -12% | -29 points |
| Q2 2025 | 18% | +2 points |
| Q1 2025 | 16% | -1.4 points |
| Q4 2024 | -8.5% | -23 points |
OC's operating margin was −6.1% last quarter, up 6.1 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 OC on cash flow, with more consistent year-over-year improvement.
OC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $622M | -17% |
| Q2 2026 | $199M | +54% |
| Q1 2026 | -$387M | -$135M |
| Q4 2025 | $333M | -30% |
| Q3 2025 | $752M | +35% |
| Q2 2025 | $129M | -62% |
| Q1 2025 | -$252M | -$124M |
| Q4 2024 | $479M | -15% |
OC still generates free cash flow, though less than at its 2025 peak: $767M 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 461M diluted shares, down 2.1% from a year ago, with $8.1B in buybacks over the past year.
| 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.
OC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.4% | -1.9M shares |
| 1 year | -5.6% | -4.7M shares |
| 3 years | -13% | -12.2M shares |
| 5 years | -24% | -25.2M shares |
| Available history | -29% | -31.4M shares |
OC has the edge over CAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $276M |
| Q2 2026 | $208M |
| Q1 2026 | $22M |
| Q4 2025 | $232M |
| Q3 2025 | $220M |
| Q2 2025 | $227M |
| Q1 2025 | $136M |
| Q4 2024 | $103M |
OC spent $738M buying back its own shares over the past year, up 7.6% from the year before.
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 OC on leverage, with a lower net debt burden relative to earnings.
OC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.5x | High |
| Q2 2026 | 5.3x | High |
| Q1 2026 | 6.2x | High |
| Q4 2025 | 4.2x | High |
| Q3 2025 | 4.3x | High |
| Q2 2025 | 2.8x | Moderate |
| Q1 2025 | 2.8x | Moderate |
| Q4 2024 | 2.7x | Moderate |
OC's net debt is about 4.5 years of its operating earnings (EBITDA), up from 4.3 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).
OC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.5 | Neutral |
| Stochastic | 21.6 | Neutral |
OC's weekly RSI is 43 (neutral) and its Stochastic is 22 (neutral).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.1% below |
| PE % | 69 | 58 | 11 pts above |
CAT is trading at 24x earnings, in line with the Industrials sector's median of 24x.
OC PE vs Industrials Sector
| Metric | OC | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
OC 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 OC on trend strength, trading above more of its moving averages.
OC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $117.9 | 0.3% below |
| 20 week MA | $133.0 | 12% below |
| 50 week MA | $124.9 | 5.9% below |
| 100 week MA | $135.1 | 13% below |
| 200 week MA | $140.3 | 16% below |
OC is in a downtrend: it's below all five of its weekly moving averages, and 16% 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 OC on returns for 2026, with the stronger performance.
OC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $65.2 | $78.4 | +20% |
| 2021 | $78.4 | $88.8 | +13% |
| 2022 | $88.8 | $88.2 | -0.7% |
| 2023 | $88.2 | $148.2 | +68% |
| 2024 | $148.2 | $170.6 | +15% |
| 2025 | $170.6 | $113.7 | -33% |
| 2026 YTD | $113.7 | $117.5 | +3.3% |
OC has finished higher in four of the last six years. It's up 3.3% so far in 2026.