CAT
Caterpillar Inc.
CAT has the edge over TGEN overall, supported by stronger fundamentals and lower modeled downside.
TGEN
Tecogen Inc.
TGEN 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.
TGEN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Weak | |
| Unavailable |
TGEN's revenue is currently stable, 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.
TGEN PE Valuation
TGEN 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.
TGEN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect TGEN's losses to shrink, with revenue growing. 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 TGEN on earnings quality, reporting a profit while its opponent remains loss making.
TGEN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.33 | -$0.12 |
| Q2 2026 | -$0.35 | -$0.17 |
| Q1 2026 | -$0.34 | -$0.16 |
| Q4 2025 | -$0.30 | -$0.11 |
| Q3 2025 | -$0.21 | +$0.01 |
| Q2 2025 | -$0.18 | +$0.02 |
| Q1 2025 | -$0.18 | -$0.01 |
| Q4 2024 | -$0.19 | $0.00 |
TGEN lost $0.33 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 TGEN on sales, with stronger typical year-over-year growth.
| 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 TGEN on profitability, with a higher operating margin.
TGEN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.9M | +9.6% |
| Q2 2026 | $5.7M | -21% |
| Q1 2026 | $6.3M | -13% |
| Q4 2025 | $5.3M | -12% |
| Q3 2025 | $7.2M | +28% |
| Q2 2025 | $7.3M | +54% |
| Q1 2025 | $7.3M | +18% |
| Q4 2024 | $6.1M | +3% |
TGEN's revenue is down over the past year, though its latest quarter was up: $8M last quarter, up 9.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -20% | +9.4 points |
| Q2 2026 | -37% | -18 points |
| Q1 2026 | -34% | -26 points |
| Q4 2025 | -78% | -59 points |
| Q3 2025 | -29% | -14 points |
| Q2 2025 | -19% | +12 points |
| Q1 2025 | -8.2% | +8.8 points |
| Q4 2024 | -19% | +12 points |
TGEN's operating margin was −20% last quarter, up 9.4 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 TGEN on cash generation, producing positive trailing cash flow while its opponent burns cash.
TGEN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.4M | +$2.2M |
| Q2 2026 | -$2.4M | +$321.5K |
| Q1 2026 | -$3.2M | -$1.8M |
| Q4 2025 | -$2.6M | -165% |
| Q3 2025 | -$3.6M | -$3.1M |
| Q2 2025 | -$2.7M | -$2.1M |
| Q1 2025 | -$1.3M | -1011% |
| Q4 2024 | $4M | +2126% |
TGEN has burned cash in most quarters: −$10M over the past year, against −$4M 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 TGEN 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.
TGEN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +184K shares |
| 1 year | +4.7% | +1.4M shares |
| 3 years | +21% | +5.3M shares |
| 5 years | +20% | +5M shares |
| Available history | +22% | +5.3M shares |
TGEN has 30M diluted shares, up 4.7% from a year ago.
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.
TGEN Net Leverage
TGEN'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).
TGEN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.6 | Neutral |
| Stochastic | 12.3 | Oversold |
TGEN's weekly RSI is 38 (neutral) and its Stochastic is 12 (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.
TGEN PE vs Industrials Sector
| Metric | TGEN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
TGEN 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 TGEN on trend strength, trading above more of its moving averages.
TGEN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.28 | 2.6% below |
| 20 week MA | $3.02 | 26% below |
| 50 week MA | $3.94 | 44% below |
| 100 week MA | $4.64 | 52% below |
| 200 week MA | $2.78 | 20% below |
TGEN is in a downtrend: it's below all five of its weekly moving averages, and 20% 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 TGEN on returns for 2026, with the stronger performance.
TGEN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.26 | $1.17 | -48% |
| 2021 | $1.17 | $1.16 | -0.9% |
| 2022 | $1.16 | $1.21 | +4.3% |
| 2023 | $1.21 | $0.81 | -33% |
| 2024 | $0.81 | $1.45 | +79% |
| 2025 | $1.45 | $5.18 | +257% |
| 2026 YTD | $5.18 | $2.22 | -57% |
TGEN's yearly returns have swung widely, from +257% in 2025 to −48% in 2020. It's down 57% so far in 2026.