CAT
Caterpillar Inc.
CAT has lower modeled downside risk, despite its lower overall score.
PBI
Pitney Bowes Inc.
PBI has a slight edge over CAT overall, supported by stronger valuation and stronger fundamentals.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
PBI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Weak |
PBI's profitability and cash flow are currently strong, and its revenue is stable, but its balance sheet is weak.
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 PBI in the historical PE scenario, which offers more potential upside but is not a forecast.
PBI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 9.7x | $15.64 | — |
| Current | 12x | $15.64 | — |
| Cheap | 13x | $16.34 | +4.5% |
| Fair | 17x | $22.35 | +43% |
| Expensive | 65x | $84.89 | +443% |
Historical ranges are pointers, not guarantees.
PBI's PE is in its cheap range at 12x. If earnings grow as analysts expect, today's price would be 9.7x next year's earnings.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
CAT has the edge over PBI on the outlook, with more favorable revenue expectations.
PBI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect PBI's earnings to grow and its profitability to improve, with its revenue holding steady.
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.
PBI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.61 | +24% |
| Q3 2026 | $1.30 | +189% |
| Q2 2026 | $1.23 | +$1.83 |
| Q1 2026 | $1.04 | +$1.95 |
| Q4 2025 | $0.84 | +$1.96 |
| Q3 2025 | $0.45 | +$2.64 |
| Q2 2025 | -$0.60 | +$0.91 |
| Q1 2025 | -$0.91 | +$1.27 |
| Q4 2024 | -$1.12 | +$1.08 |
PBI 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 has the edge over PBI 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 PBI on profitability, with a higher operating margin.
PBI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $456.2M | -0.8% |
| Q2 2026 | $451.5M | -2.3% |
| Q1 2026 | $477.4M | -3.2% |
| Q4 2025 | $477.6M | -7.5% |
| Q3 2025 | $459.7M | -8% |
| Q2 2025 | $461.9M | -42% |
| Q1 2025 | $493.4M | -41% |
| Q4 2024 | $516.1M | -41% |
PBI's revenue fell from its 2020 peak and has held roughly level since: $456M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +0.5 points |
| Q2 2026 | 15% | +6 points |
| Q1 2026 | 17% | +7.4 points |
| Q4 2025 | 8% | +17 points |
| Q3 2025 | 15% | +24 points |
| Q2 2025 | 8.5% | +13 points |
| Q1 2025 | 9.5% | +8.3 points |
| Q4 2024 | -9.3% | +17 points |
PBI's operating margin was 15% last quarter, up 0.5 points from the same quarter a year ago, near the top of its range since 2019.
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.
PBI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $140.4M | +175% |
| Q2 2026 | $134.4M | +37% |
| Q1 2026 | $28.3M | +$61.9M |
| Q4 2025 | $201.4M | +79% |
| Q3 2025 | $51.1M | +875% |
| Q2 2025 | $98M | +37% |
| Q1 2025 | -$33.6M | -$1.1M |
| Q4 2024 | $112.3M | +64% |
PBI has the edge over CAT on cash flow, with more consistent year-over-year improvement.
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.
PBI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +1.7M shares |
| 1 year | -17% | -29.6M shares |
| 3 years | -20% | -35.4M shares |
| 5 years | -22% | -38.7M shares |
| Available history | -21% | -36.7M shares |
PBI has the edge over CAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $17.3M |
| Q2 2026 | $52.8M |
| Q1 2026 | $135.6M |
| Q4 2025 | $126.6M |
| Q3 2025 | $161.5M |
| Q2 2025 | $75.3M |
| Q1 2025 | $15M |
| Q4 2023 | — |
PBI spent $332M buying back its own shares over 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 PBI on leverage, with a lower net debt burden relative to earnings.
PBI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.6x | High |
| Q2 2026 | 5.0x | High |
| Q1 2026 | 5.5x | High |
| Q4 2025 | 5.6x | High |
| Q3 2025 | 8.1x | High |
| Q2 2025 | 19.2x | High |
| Q1 2025 | 88.7x | High |
| Q2 2023 | 117.2x | High |
PBI's net debt is about 4.6 years of its operating earnings (EBITDA), down from 8.1 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).
PBI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.3 | Neutral |
| Stochastic | 12.0 | Oversold |
PBI's weekly RSI is 46 (neutral) and its Stochastic is 12 (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.
PBI PE vs Industrials Sector
| Metric | PBI | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 24x | 50% below |
| PE % | 12 | 58 | 46 pts below |
PBI has the edge over CAT on valuation relative to its sector.
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 pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 37% above its 200-week average.
PBI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $16.5 | 5.1% below |
| 20 week MA | $17.0 | 7.9% below |
| 50 week MA | $14.3 | 9.2% above |
| 100 week MA | $12.2 | 29% above |
| 200 week MA | $8.43 | 86% above |
PBI has the edge over CAT on trend strength, trading above more of its moving averages.
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 finished every year since 2020 higher, and it's up 3.8% so far in 2026.
PBI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.94 | $5.53 | +40% |
| 2021 | $5.53 | $6.68 | +21% |
| 2022 | $6.68 | $3.79 | -43% |
| 2023 | $3.79 | $4.40 | +16% |
| 2024 | $4.40 | $7.29 | +66% |
| 2025 | $7.29 | $10.7 | +47% |
| 2026 YTD | $10.7 | $15.6 | +46% |
PBI has the edge over CAT on returns for 2026, with the stronger performance.