CAT
Caterpillar Inc.
CAT has the edge over ROCK overall, supported by stronger modeled upside and stronger fundamentals.
ROCK
Gibraltar Industries, Inc.
ROCK 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.
ROCK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Under pressure | |
| Weak |
ROCK's revenue is currently strong, but its profitability, cash flow 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.
ROCK PE Valuation
ROCK 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 ROCK on the outlook, with more favorable earnings and profitability expectations.
ROCK Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Decline | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect ROCK's revenue to grow, but its earnings and profitability to decline. 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 has the edge over ROCK on earnings quality, reporting a profit while its opponent remains loss making.
ROCK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.14 | — |
| Q3 2026 | -$1.65 | -2457% |
| Q2 2026 | -$5.02 | -221% |
| Q1 2026 | -$4.43 | -202% |
| Q4 2025 | -$1.48 | -133% |
| Q3 2025 | $0.07 | -98% |
| Q2 2025 | $4.16 | +10% |
| Q1 2025 | $4.34 | +17% |
| Q4 2024 | $4.46 | +24% |
ROCK has swung to a loss: it lost $1.65 per share over the past year, after a profit 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 ROCK 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 ROCK on profitability, with a higher operating margin.
ROCK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $479.6M | +54% |
| Q2 2026 | $509.5M | +65% |
| Q1 2026 | $356.3M | +23% |
| Q4 2025 | $268.7M | -11% |
| Q3 2025 | $310.9M | -14% |
| Q2 2025 | $309.5M | -12% |
| Q1 2025 | $290M | -0.9% |
| Q4 2024 | $302.1M | -8.1% |
ROCK's revenue is growing: $480M last quarter, up 54% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 10% | -2.6 points |
| Q2 2026 | 12% | -1 points |
| Q1 2026 | -1.3% | -10 points |
| Q4 2025 | 5.5% | -2.8 points |
| Q3 2025 | 13% | +0.7 points |
| Q2 2025 | 13% | +0.7 points |
| Q1 2025 | 8.8% | -2 points |
| Q4 2024 | 8.2% | +0.6 points |
ROCK's operating margin was 10% last quarter, down 2.6 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 ROCK on cash generation, producing positive trailing cash flow while its opponent burns cash.
ROCK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$3.1M | -105% |
| Q2 2026 | -$1.4M | -105% |
| Q1 2026 | -$47.2M | -2193% |
| Q4 2025 | $26.2M | +90% |
| Q3 2025 | $64.8M | +9.7% |
| Q2 2025 | $27.3M | -15% |
| Q1 2025 | $2.3M | -95% |
| Q4 2024 | $13.8M | +187% |
ROCK's free cash flow has turned negative after years in the green: −$26M 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 ROCK 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.
ROCK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +97K shares |
| 1 year | +0.1% | +43K shares |
| 3 years | -2.6% | -809K shares |
| 5 years | -9.5% | -3.1M shares |
| Available history | -8.6% | -2.8M shares |
ROCK has 30M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $471,000 |
| Q2 2026 | $71,000 |
| Q1 2026 | $3.9M |
| Q4 2025 | $131,000 |
| Q3 2025 | $1.2M |
| Q2 2025 | $105,000 |
| Q1 2025 | $62.4M |
| Q4 2024 | $1.2M |
ROCK spent $5M buying back its own shares over the past year, down 93% 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 ROCK on leverage, with a lower net debt burden relative to earnings.
ROCK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.6x | High |
| Q2 2026 | 7.6x | High |
| Q1 2026 | 9.3x | High |
| Q4 2025 | -0.8x | Net Cash |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.3x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -1.6x | Net Cash |
ROCK's net debt is about 6.6 years of its operating earnings (EBITDA), after holding more cash than debt 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).
ROCK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.2 | Neutral |
| Stochastic | 13.0 | Oversold |
ROCK's weekly RSI is 33 (neutral) and its Stochastic is 13 (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.
ROCK PE vs Industrials Sector
| Metric | ROCK | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
ROCK 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 ROCK on trend strength, trading above more of its moving averages.
ROCK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $37.2 | 17% below |
| 20 week MA | $42.0 | 26% below |
| 50 week MA | $43.7 | 29% below |
| 100 week MA | $52.1 | 41% below |
| 200 week MA | $59.6 | 48% below |
ROCK is in a downtrend: it's below all five of its weekly moving averages, and 48% 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 ROCK on returns for 2026, with the stronger performance.
ROCK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $50.6 | $71.7 | +42% |
| 2021 | $71.7 | $66.8 | -6.9% |
| 2022 | $66.8 | $45.7 | -32% |
| 2023 | $45.7 | $79.0 | +73% |
| 2024 | $79.0 | $59.2 | -25% |
| 2025 | $59.2 | $50.8 | -14% |
| 2026 YTD | $50.8 | $30.9 | -39% |
ROCK has finished lower in four of the last six years. It's down 39% so far in 2026.