CAT
Caterpillar Inc.
CAT has the edge over SPAI overall, supported by lower modeled downside and stronger modeled upside.
SPAI
Safe Pro Group Inc. Common Stock
SPAI 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.
SPAI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Weak | |
| Unavailable |
SPAI's revenue is currently strong, but its profitability and cash flow are weak. 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.
SPAI PE Valuation
SPAI 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.
SPAI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect SPAI's losses to shrink, with revenue growing.
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 SPAI in the latest year-over-year earnings comparison.
SPAI Earnings Per Share
SPAI lost $0.74 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 SPAI on profitability, with a higher operating margin.
SPAI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.3M | +1336% |
| Q1 2026 | $1.2M | +560% |
| Q4 2025 | $227.7K | -74% |
| Q3 2025 | $101.4K | -69% |
| Q2 2025 | $92.8K | -86% |
| Q1 2025 | $184.8K | -40% |
| Q4 2024 | $887.8K | +220% |
| Q3 2024 | $330.8K | +102% |
SPAI's revenue is growing: $1M last quarter, up 1336% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -246% | +1828 points |
| Q1 2026 | -239% | +1929 points |
| Q4 2025 | -1936% | -1778 points |
| Q3 2025 | -4149% | -3078 points |
| Q2 2025 | -2074% | -1899 points |
| Q1 2025 | -2168% | -1815 points |
| Q4 2024 | -158% | +1433 points |
| Q3 2024 | -1071% | -656 points |
SPAI's operating margin was −246% last quarter, up 1828 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 SPAI on cash generation, producing positive trailing cash flow while its opponent burns cash.
SPAI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$2.9M | -$1.9M |
| Q1 2026 | -$1.2M | -$266.2K |
| Q4 2025 | -$2.7M | -$1.6M |
| Q3 2025 | -$1.6M | +$306.4K |
| Q1 2025 | -$960K | -$392K |
| Q4 2024 | -$1M | -$787.1K |
| Q3 2024 | -$1.9M | -$1.3M |
| Q1 2024 | -$568K | -$568K |
SPAI has burned cash in almost every quarter: −$8M over the past year, against −$5M 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 SPAI 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.
SPAI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -118K shares |
| 1 year | +35% | +5.3M shares |
| 3 years | +174% | +13M shares |
SPAI has 21M diluted shares, up 35% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $1.6M |
| Q1 2026 | $731,079 |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
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.
SPAI Net Leverage
SPAI'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).
SPAI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.3 | Neutral |
| Stochastic | 4.7 | Oversold |
SPAI's weekly RSI is 37 (neutral) and its Stochastic is 5 (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.
SPAI PE vs Industrials Sector
SPAI 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 stronger trend alignment. CAT is above 2 of 5 weekly averages versus SPAI above 0 of 4.
SPAI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.53 | 20% below |
| 20 week MA | $4.11 | 32% below |
| 50 week MA | $4.43 | 37% below |
| 100 week MA | $4.31 | 35% below |
SPAI is in a downtrend: it's below all four of its weekly moving averages, and 35% below its 100-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 SPAI on returns for 2026, with the stronger performance.
SPAI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $4.25 | $4.48 | +5.4% |
| 2025 | $4.48 | $4.27 | -4.7% |
| 2026 YTD | $4.27 | $2.81 | -34% |
SPAI has finished lower in one of the last two years. It's down 34% so far in 2026.