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.
TOPS
Top Ships Inc.
There isn't enough reported data to score TOPS yet.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
TOPS Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Stable | |
| Unavailable | |
| Weak |
TOPS's profitability is currently stable, but its balance sheet is weak. There isn't enough data to rate its revenue and cash flow.
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.
TOPS PE Valuation
TOPS 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.
TOPS Forward outlook
There aren't enough analyst estimates for TOPS 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 earned $25.48 per share over the past year, up 31% from the year before.
TOPS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2025 | $6.70 | -39% |
TOPS and CAT do not have enough comparable growth data to identify a winner.
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 TOPS in the latest year-over-year revenue comparison.
| 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's operating margin was 20% last quarter, up 3.1 points from the same quarter a year ago.
TOPS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $25.5M | -42% |
| Q2 2025 | $43.8M | +4.1% |
| Q2 2024 | $42.1M | +2.2% |
| Q2 2023 | $41.1M | +5.9% |
| Q4 2022 | $41.8M | +35% |
| Q2 2022 | $38.8M | +53% |
| Q4 2021 | $31.1M | +125% |
TOPS's revenue has held roughly level: $25M last quarter, down 38% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 46% | +12 points |
| Q4 2025 | 22% | N/A |
| Q2 2025 | 42% | +2.1 points |
| Q2 2024 | 34% | -5 points |
| Q2 2023 | 40% | +23 points |
| Q4 2022 | 42% | -2.8 points |
| Q2 2022 | 39% | +24 points |
| Q4 2021 | 34% | N/A |
TOPS has the edge over CAT on profitability, with a higher operating margin.
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.
TOPS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$51.6M | -428% |
TOPS and CAT do not have enough comparable growth data to identify a winner.
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 TOPS 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.
TOPS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +132% | +609K shares |
| 1 year | +132% | +609K shares |
TOPS has 1M diluted shares, up 132% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q4 2020 | $1,000 |
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.
TOPS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2025 | 5.7x | High |
| Q4 2024 | 6.1x | High |
| Q2 2024 | 6.2x | High |
| Q4 2023 | 4.8x | High |
| Q2 2023 | 5.0x | High |
| Q4 2022 | 4.6x | High |
| Q2 2022 | 6.4x | High |
| Q4 2021 | 4.2x | High |
TOPS's net debt is about 5.7 years of its operating earnings (EBITDA), up from 5.0 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).
TOPS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 16.8 | Oversold |
| Stochastic | 4.7 | Oversold |
TOPS's weekly RSI is 17 (oversold) 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.
TOPS PE vs Industrials Sector
| Metric | TOPS | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
TOPS 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 TOPS on trend strength, trading above more of its moving averages.
TOPS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.16 | 32% below |
| 20 week MA | $6.20 | 55% below |
| 50 week MA | $23.3 | 88% below |
| 100 week MA | $41.9 | 93% below |
| 200 week MA | $73.8 | 96% below |
TOPS is in a downtrend: it's below all five of its weekly moving averages, and 96% 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 TOPS on returns for 2026, with the stronger performance.
TOPS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $51,000.0 | $2,976.0 | -94% |
| 2021 | $2,976.0 | $2,328.0 | -22% |
| 2022 | $2,328.0 | $139.2 | -94% |
| 2023 | $139.2 | $156.2 | +12% |
| 2024 | $156.2 | $61.2 | -61% |
| 2025 | $61.2 | $50.6 | -17% |
| 2026 YTD | $50.6 | $2.81 | -94% |
TOPS has finished lower in five of the last six years. It's down 94% so far in 2026.