CAT
Caterpillar Inc.
CAT has the edge over TITN overall, supported by lower modeled downside and stronger fundamentals.
TITN
Titan Machinery Inc.
TITN 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.
TITN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Under pressure | |
| Weak |
TITN's revenue, profitability, cash flow and balance sheet are all currently 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.
TITN PE Valuation
TITN 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 TITN on the outlook, with more favorable revenue expectations.
TITN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect TITN's losses to shrink, with revenue holding steady.
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 TITN on earnings quality, reporting a profit while its opponent remains loss making.
TITN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.49 | +$0.20 |
| Q2 2026 | -$2.35 | +$0.27 |
| Q1 2026 | -$2.38 | -$0.75 |
| Q4 2025 | -$2.71 | -304% |
| Q3 2025 | -$2.69 | -204% |
| Q2 2025 | -$2.62 | -163% |
| Q1 2025 | -$1.63 | -133% |
| Q4 2024 | $1.33 | -72% |
TITN lost $2.49 per share over the past year, about the same as its loss 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 TITN 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 TITN on profitability, with a higher operating margin.
TITN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $496.4M | -9.2% |
| Q2 2026 | $522.4M | -12% |
| Q1 2026 | $641.8M | -16% |
| Q4 2025 | $644.5M | -5.2% |
| Q3 2025 | $546.4M | -14% |
| Q2 2025 | $594.3M | -5.5% |
| Q1 2025 | $759.9M | -11% |
| Q4 2024 | $679.8M | -2.1% |
TITN's revenue has slid since its 2024 peak: $496M last quarter, down 9.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.5% | -0.6 points |
| Q2 2026 | -1.1% | -0.1 points |
| Q1 2026 | -1.9% | +4.2 points |
| Q4 2025 | 1.6% | -0.1 points |
| Q3 2025 | 0.1% | -2.4 points |
| Q2 2025 | -1% | -4.5 points |
| Q1 2025 | -6% | -11 points |
| Q4 2024 | 1.7% | -5 points |
TITN's operating margin was −0.5% last quarter, down 0.6 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 generated $11.3B in free cash flow over the past year, up 26% from the year before.
TITN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$2M | -105% |
| Q2 2026 | -$23.1M | -473% |
| Q1 2026 | $53.6M | -58% |
| Q4 2025 | $34M | +$42.8M |
| Q3 2025 | $43.7M | +$58.7M |
| Q2 2025 | $6.2M | +$38.5M |
| Q1 2025 | $126.5M | +154% |
| Q4 2024 | -$8.8M | -122% |
TITN usually generates cash, though not every quarter: the latest was −$2M, but it generated $62M 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 TITN 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.
TITN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +112K shares |
| 1 year | +0.9% | +197K shares |
| 3 years | +2.1% | +477K shares |
| 5 years | +3.1% | +685K shares |
| Available history | +4.5% | +985K shares |
TITN has 23M diluted shares, up 0.9% 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 the edge over TITN on leverage, with a lower net debt burden relative to earnings.
TITN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.1x | High |
| Q2 2026 | 4.7x | High |
| Q1 2026 | 4.9x | High |
| Q2 2025 | 9.9x | High |
| Q1 2025 | 3.1x | Elevated |
| Q4 2024 | 0.9x | Very low |
| Q3 2024 | 0.6x | Very low |
| Q2 2024 | 0.5x | Very low |
TITN's net debt is about 5.1 years of its operating earnings (EBITDA), up from 3.1 years 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).
TITN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.6 | Neutral |
| Stochastic | 63.5 | Neutral |
TITN's weekly RSI is 55 (neutral) and its Stochastic is 63 (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.
TITN PE vs Industrials Sector
| Metric | TITN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
TITN 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 pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 37% above its 200-week average.
TITN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $23.3 | 0.4% above |
| 20 week MA | $21.4 | 9.4% above |
| 50 week MA | $19.6 | 19% above |
| 100 week MA | $18.6 | 26% above |
| 200 week MA | $21.9 | 6.9% above |
TITN has the edge over CAT on trend strength, trading above more of its moving averages.
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 finished every year since 2020 higher, and it's up 3.8% so far in 2026.
TITN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.6 | $19.0 | +30% |
| 2021 | $19.0 | $32.2 | +70% |
| 2022 | $32.2 | $39.2 | +22% |
| 2023 | $39.2 | $28.9 | -26% |
| 2024 | $28.9 | $13.9 | -52% |
| 2025 | $13.9 | $15.4 | +11% |
| 2026 YTD | $15.4 | $23.4 | +52% |
TITN has the edge over CAT on returns for 2026, with the stronger performance.