CAT
Caterpillar Inc.
CAT has the edge over SLND overall, supported by stronger fundamentals and lower modeled downside.
SLND
Southland Holdings, Inc.
SLND 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.
SLND Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Weak | |
| Unavailable |
SLND's revenue, profitability and cash flow are currently 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.
SLND PE Valuation
SLND 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 SLND on the outlook, with more favorable revenue expectations.
SLND Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Decline | |
| Improving | |
| Limited | |
| High |
Analysts expect SLND's losses to shrink, with revenue declining.
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 SLND on earnings quality, reporting a profit while its opponent remains loss making.
SLND Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$5.46 | -$3.72 |
| Q2 2026 | -$7.47 | -$5.98 |
| Q1 2026 | -$6.11 | -$3.85 |
| Q4 2025 | -$5.67 | -$3.48 |
| Q3 2025 | -$1.74 | +$0.48 |
| Q2 2025 | -$1.49 | -$0.49 |
| Q1 2025 | -$2.26 | -$1.95 |
| Q4 2024 | -$2.19 | -$1.78 |
SLND lost $5.46 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 has the edge over SLND 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 SLND on profitability, with a higher operating margin.
SLND Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $233.8M | +9.6% |
| Q2 2026 | $113.3M | -47% |
| Q1 2026 | $172.4M | -28% |
| Q4 2025 | $104M | -61% |
| Q3 2025 | $213.3M | +23% |
| Q2 2025 | $215.4M | -14% |
| Q1 2025 | $239.5M | -17% |
| Q4 2024 | $267.3M | -15% |
SLND's revenue is recovering but still below its 2021 peak: $234M last quarter, up 9.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3% | +8.3 points |
| Q2 2026 | -78% | -78 points |
| Q1 2026 | -11% | -14 points |
| Q4 2025 | -202% | -199 points |
| Q3 2025 | -5.3% | +34 points |
| Q2 2025 | -0.1% | +22 points |
| Q1 2025 | 2.1% | 0 points |
| Q4 2024 | -3% | -3.4 points |
SLND's operating margin was 3% last quarter, up 8.3 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 SLND on cash generation, producing positive trailing cash flow while its opponent burns cash.
SLND Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$12.9M | -342% |
| Q2 2026 | -$38.4M | -$31.9M |
| Q1 2026 | -$133.9M | -2990% |
| Q4 2025 | $9.3M | +$20.8M |
| Q3 2025 | $5.3M | +$12.6M |
| Q2 2025 | -$6.5M | -125% |
| Q1 2025 | $4.6M | +$17.7M |
| Q4 2024 | -$11.5M | -150% |
SLND has burned cash in most quarters: −$176M over the past year, against −$8M 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 SLND 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.
SLND Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +242K shares |
| 1 year | +0.7% | +378K shares |
| 3 years | +14% | +6.6M shares |
| 5 years | +36% | +14.3M shares |
SLND has 54M diluted shares, up 0.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
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.
SLND Net Leverage
SLND'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).
SLND Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.6 | Neutral |
| Stochastic | 32.3 | Neutral |
SLND's weekly RSI is 39 (neutral) and its Stochastic is 32 (neutral).
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.
SLND PE vs Industrials Sector
SLND 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 SLND on trend strength, trading above more of its moving averages.
SLND Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.71 | 11% below |
| 20 week MA | $0.68 | 7.4% below |
| 50 week MA | $1.32 | 52% below |
| 100 week MA | $2.54 | 75% below |
| 200 week MA | $4.22 | 85% below |
SLND is in a downtrend: it's below all five of its weekly moving averages, and 85% 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 SLND on returns for 2026, with the stronger performance.
SLND Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $9.75 | $9.75 | 0% |
| 2022 | $9.75 | $10.2 | +4.7% |
| 2023 | $10.2 | $5.16 | -49% |
| 2024 | $5.16 | $3.43 | -34% |
| 2025 | $3.43 | $3.43 | 0% |
| 2026 YTD | $3.43 | $0.63 | -82% |
SLND has finished lower in four of the last five years. It's down 82% so far in 2026.