CAT
Caterpillar Inc.
CAT has the edge over RBA overall, supported by stronger modeled upside and stronger fundamentals.
RBA
RB Global, Inc.
RBA has slightly lower modeled downside risk, despite its lower overall score.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
RBA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Stable |
RBA's revenue, profitability and cash flow are currently healthy, and its balance sheet is 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'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.
RBA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 20x | $94.26 | — |
| Cheap | 29x | $74.58 | -21% |
| Current | 36x | $94.26 | — |
| Fair | 42x | $109 | +16% |
| Expensive | 54x | $141 | +50% |
Historical ranges are pointers, not guarantees.
RBA has the edge over CAT in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
RBA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for RBA, with profitability improving.
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.
RBA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.72 | +81% |
| Q3 2026 | $2.60 | +24% |
| Q2 2026 | $2.33 | +15% |
| Q1 2026 | $2.15 | +5.9% |
| Q4 2025 | $2.04 | +1.5% |
| Q3 2025 | $2.09 | +3% |
| Q2 2025 | $2.02 | +2.5% |
| Q1 2025 | $2.03 | +9.7% |
| Q4 2024 | $2.01 | +93% |
RBA 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 RBA on profitability, with a higher operating margin.
RBA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +17% |
| Q2 2026 | $1.3B | +11% |
| Q1 2026 | $1.2B | +11% |
| Q4 2025 | $1.2B | +5.4% |
| Q3 2025 | $1.1B | +11% |
| Q2 2025 | $1.2B | +8.2% |
| Q1 2025 | $1.1B | +4.1% |
| Q4 2024 | $1.1B | +9.7% |
RBA's revenue has grown year over year for eight quarters in a row: $1.3B last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | +2.5 points |
| Q2 2026 | 17% | +1.2 points |
| Q1 2026 | 18% | +0.5 points |
| Q4 2025 | 15% | -3.4 points |
| Q3 2025 | 14% | -1.1 points |
| Q2 2025 | 16% | -2.5 points |
| Q1 2025 | 17% | -1.6 points |
| Q4 2024 | 18% | +1.7 points |
RBA's operating margin was 17% last quarter, up 2.5 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 RBA on cash flow, with stronger typical year-over-year growth.
RBA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $196.3M | +4.1% |
| Q2 2026 | $63.6M | -74% |
| Q1 2026 | $172.6M | +68% |
| Q4 2025 | $186.5M | +46% |
| Q3 2025 | $188.5M | -24% |
| Q2 2025 | $241.7M | -22% |
| Q1 2025 | $102.5M | +29% |
| Q4 2024 | $127.9M | -51% |
RBA still generates free cash flow, though less than at its 2024 peak: $619M 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 RBA 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.
RBA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -2.7M shares |
| 1 year | -1.5% | -2.9M shares |
| 3 years | +0.3% | +598K shares |
| 5 years | +65% | +72.8M shares |
| Available history | +68% | +74.4M shares |
RBA has 184M diluted shares, down 1.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $350M |
| Q2 2026 | $150M |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $53.2M |
| Q4 2019 | — |
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 RBA on leverage, with a lower net debt burden relative to earnings.
RBA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.0x | Healthy |
| Q2 2026 | 1.9x | Healthy |
| Q1 2026 | 1.6x | Healthy |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 1.6x | Healthy |
| Q2 2025 | 1.6x | Healthy |
| Q1 2025 | 1.8x | Healthy |
| Q4 2024 | 1.8x | Healthy |
RBA's net debt is about 2.0 years of its operating earnings (EBITDA), up from 1.6 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).
RBA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.9 | Neutral |
| Stochastic | 51.3 | Neutral |
RBA's weekly RSI is 51 (neutral) and its Stochastic is 51 (neutral).
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 RBA on valuation relative to its sector.
RBA PE vs Industrials Sector
| Metric | RBA | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 24x | 51% above |
| PE % | 27 | 58 | 31 pts below |
RBA is trading at 36x earnings, a 51% 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 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.
RBA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $87.0 | 8.3% above |
| 20 week MA | $92.6 | 1.8% above |
| 50 week MA | $100.2 | 5.9% below |
| 100 week MA | $101.3 | 7% below |
| 200 week MA | $85.4 | 10% above |
RBA 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 the edge over RBA on returns for 2026, with the stronger performance.
RBA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $43.3 | $71.2 | +65% |
| 2021 | $71.2 | $61.3 | -14% |
| 2022 | $61.3 | $56.1 | -8.4% |
| 2023 | $56.1 | $66.9 | +19% |
| 2024 | $66.9 | $90.9 | +36% |
| 2025 | $90.9 | $105.4 | +16% |
| 2026 YTD | $105.4 | $94.3 | -11% |
RBA has finished higher in four of the last six years. It's down 11% so far in 2026.