CAT
Caterpillar Inc.
CAT has the edge over TTC overall, supported by stronger modeled upside and stronger fundamentals.
TTC
The Toro Company
TTC 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.
TTC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Healthy |
TTC's revenue, profitability, cash flow and balance sheet are all currently healthy.
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.
TTC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 21x | $107 | — |
| Cheap | 22x | $82.04 | -23% |
| Fair | 26x | $98.24 | -8.1% |
| Current | 29x | $107 | — |
| Expensive | 31x | $117 | +9.1% |
Historical ranges are pointers, not guarantees.
TTC has the edge over CAT in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
TTC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for TTC, with profitability improving.
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.
TTC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.05 | +35% |
| Q3 2026 | $3.74 | +13% |
| Q2 2026 | $3.47 | -11% |
| Q1 2026 | $3.34 | -15% |
| Q4 2025 | $3.17 | -21% |
| Q3 2025 | $3.30 | -13% |
| Q2 2025 | $3.90 | +54% |
| Q1 2025 | $3.91 | +43% |
| Q4 2024 | $4.01 | +28% |
TTC has the edge over CAT on earnings, with more consistent year-over-year improvement.
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 TTC 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 TTC on profitability, with a higher operating margin.
TTC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +8.4% |
| Q2 2026 | $1.4B | +8.1% |
| Q1 2026 | $1B | +4.2% |
| Q4 2025 | $1.1B | -0.9% |
| Q3 2025 | $1.1B | -2.2% |
| Q2 2025 | $1.3B | -2.3% |
| Q1 2025 | $995M | -0.7% |
| Q4 2024 | $1.1B | +9.4% |
TTC's revenue has picked up after three years of holding roughly level: $1.2B last quarter, up 8.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.4% | +3.7 points |
| Q2 2026 | 14% | +0.4 points |
| Q1 2026 | 8.4% | +0.6 points |
| Q4 2025 | 8.7% | -1.5 points |
| Q3 2025 | 5.7% | -7.1 points |
| Q2 2025 | 13% | -0.7 points |
| Q1 2025 | 7.8% | -1 points |
| Q4 2024 | 10% | +0.5 points |
TTC's operating margin was 9.4% last quarter, up 3.7 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.
TTC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $159.6M | -23% |
| Q2 2026 | $250.9M | +65% |
| Q1 2026 | $14.6M | +$82.3M |
| Q4 2025 | $286.4M | +43% |
| Q3 2025 | $207.2M | +21% |
| Q2 2025 | $152.4M | -26% |
| Q1 2025 | -$67.7M | +$43.6M |
| Q4 2024 | $200.2M | +85% |
TTC has the edge over CAT on cash flow, with more consistent year-over-year improvement.
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 461M diluted shares, down 2.1% from a year ago, with $8.1B in buybacks over the past year.
| 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.
TTC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.5% | -1.5M shares |
| 1 year | -3.4% | -3.4M shares |
| 3 years | -8.3% | -8.7M shares |
| 5 years | -12% | -12.8M shares |
| Available history | -12% | -12.5M shares |
TTC has the edge over CAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $73M |
| Q2 2026 | $190.2M |
| Q1 2026 | $94.9M |
| Q4 2025 | — |
| Q3 2025 | $90M |
| Q2 2025 | $100M |
| Q1 2025 | $100M |
| Q4 2024 | $136.3M |
TTC spent $358M buying back its own shares over the past year, down 16% from the year before.
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 TTC on leverage, with a lower net debt burden relative to earnings.
TTC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 1.6x | Healthy |
| Q4 2025 | 1.1x | Healthy |
| Q3 2025 | 1.5x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.1x | Healthy |
TTC's net debt is about 1.2 years of its operating earnings (EBITDA), down from 1.5 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).
TTC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.4 | Neutral |
| Stochastic | 81.6 | Overbought |
TTC's weekly RSI is 63 (neutral) and its Stochastic is 82 (overbought).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.3% below |
| PE % | 69 | 58 | 11 pts above |
CAT has the edge over TTC on valuation relative to its sector.
TTC PE vs Industrials Sector
| Metric | TTC | Sector median | Relative |
|---|---|---|---|
| PE | 29x | 24x | 19% above |
| PE % | 65 | 58 | 7 pts above |
TTC is trading at 29x earnings, a 19% premium to the Industrials sector's median of 24x.
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.
TTC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $102.1 | 4.6% above |
| 20 week MA | $98.2 | 8.8% above |
| 50 week MA | $93.8 | 14% above |
| 100 week MA | $84.4 | 27% above |
| 200 week MA | $89.0 | 20% above |
TTC 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.
TTC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $80.2 | $93.9 | +17% |
| 2021 | $93.9 | $99.3 | +5.8% |
| 2022 | $99.3 | $113.0 | +14% |
| 2023 | $113.0 | $96.0 | -15% |
| 2024 | $96.0 | $81.0 | -16% |
| 2025 | $81.0 | $79.4 | -2% |
| 2026 YTD | $79.4 | $106.9 | +35% |
TTC has the edge over CAT on returns for 2026, with the stronger performance.