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.
SCWO
374Water, Inc.
There isn't enough reported data to score SCWO yet.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
SCWO Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Under pressure | |
| Unavailable |
SCWO's revenue is currently strong, but its profitability and cash flow are under pressure. There isn't enough data to rate its 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.
SCWO PE Valuation
SCWO 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 |
Analysts expect earnings and revenue growth for CAT, with profitability improving. However, they disagree widely on these estimates.
SCWO Forward outlook
There aren't enough analyst estimates for SCWO to show an outlook.
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 SCWO on earnings quality, reporting a profit while its opponent remains loss making.
SCWO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$1.26 | -$0.13 |
| Q1 2026 | -$1.41 | -$0.36 |
| Q4 2025 | -$1.45 | -$0.55 |
| Q3 2025 | -$1.22 | -$0.41 |
| Q2 2025 | -$1.13 | -$0.39 |
| Q1 2025 | -$1.05 | -$0.41 |
| Q4 2024 | -$0.90 | -$0.29 |
| Q3 2021 | $0.00 | +$0.05 |
SCWO lost $1.26 per share over the past year, a bigger loss than 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'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 SCWO on profitability, with a higher operating margin.
SCWO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $2.3M | +280% |
| Q1 2026 | $551.2K | +1.5% |
| Q3 2025 | $760.4K | +833% |
| Q2 2025 | $595K | +1516% |
| Q1 2025 | $543.1K | +72% |
| Q3 2024 | $81.5K | +563% |
| Q2 2024 | $36.8K | -26% |
| Q1 2024 | $315.3K | -61% |
SCWO has the edge over CAT on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -72% | +708 points |
| Q1 2026 | -834% | -137 points |
| Q3 2025 | -573% | +2791 points |
| Q2 2025 | -780% | +7420 points |
| Q1 2025 | -697% | +1.2 points |
| Q4 2024 | -40833% | N/A |
| Q3 2024 | -3365% | +11952 points |
| Q2 2024 | -8199% | -4652 points |
SCWO's operating margin was −72% last quarter, up 625 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 has the edge over SCWO on cash generation, producing positive trailing cash flow while its opponent burns cash.
SCWO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$696.5K | +$3.4M |
| Q1 2026 | -$2.9M | +$937.5K |
| Q4 2025 | -$4.7M | -$1.1M |
| Q3 2025 | -$3M | -$448.5K |
| Q2 2025 | -$4.1M | -$1.7M |
| Q1 2025 | -$3.8M | -$1.3M |
| Q4 2024 | -$3.6M | -$1.2M |
| Q3 2024 | -$2.6M | -$725.5K |
SCWO has burned cash in almost every quarter: −$11M over the past year, against −$14M 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 SCWO 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.
SCWO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.9% | +158K shares |
| 1 year | +21% | +3.1M shares |
| 3 years | +33% | +4.3M shares |
| 5 years | +530% | +14.8M shares |
| Available history | +455% | +14.4M shares |
SCWO has 18M diluted shares, up 21% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q4 2023 | — |
| Q4 2020 | — |
| Q3 2020 | $300,000 |
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.
SCWO Net Leverage
SCWO'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).
SCWO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.7 | Neutral |
| Stochastic | 18.4 | Oversold |
SCWO's weekly RSI is 42 (neutral) and its Stochastic is 18 (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.
SCWO PE vs Industrials Sector
SCWO 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 SCWO on trend strength, trading above more of its moving averages.
SCWO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.57 | 14% below |
| 20 week MA | $2.53 | 13% below |
| 50 week MA | $2.59 | 15% below |
| 100 week MA | $3.16 | 30% below |
| 200 week MA | $10.7 | 79% below |
SCWO is in a downtrend: it's below all five of its weekly moving averages, and 79% 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 SCWO on returns for 2026, with the stronger performance.
SCWO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $0.90 | $8.80 | +878% |
| 2021 | $8.80 | $26.0 | +195% |
| 2022 | $26.0 | $29.5 | +13% |
| 2023 | $29.5 | $14.2 | -52% |
| 2024 | $14.2 | $6.79 | -52% |
| 2025 | $6.79 | $2.36 | -65% |
| 2026 YTD | $2.36 | $2.21 | -6.4% |
SCWO has finished three years in a row lower, and it's down 6.4% so far in 2026.