CAT
Caterpillar Inc.
CAT has the edge over TWI overall, supported by stronger fundamentals and stronger modeled upside.
TWI
Titan International, Inc.
TWI 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.
TWI Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Under pressure | |
| Weak |
TWI'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.
TWI PE Valuation
TWI 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 TWI on the outlook, with more favorable revenue expectations.
TWI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect TWI's losses to shrink, with revenue holding steady. 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 TWI on earnings quality, reporting a profit while its opponent remains loss making.
TWI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.83 | -$1.71 |
| Q2 2026 | -$1.21 | -$0.88 |
| Q1 2026 | -$1.37 | -$1.14 |
| Q4 2025 | -$1.00 | -$0.92 |
| Q3 2025 | -$0.12 | $0.00 |
| Q2 2025 | -$0.33 | -175% |
| Q1 2025 | -$0.23 | -126% |
| Q4 2024 | -$0.08 | -106% |
TWI lost $1.83 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 TWI 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 TWI on profitability, with a higher operating margin.
TWI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $335.2M | -28% |
| Q2 2026 | $484.8M | +5.2% |
| Q1 2026 | $505.1M | +2.9% |
| Q4 2025 | $410.4M | +7% |
| Q3 2025 | $466.5M | +4.1% |
| Q2 2025 | $460.8M | -13% |
| Q1 2025 | $490.7M | +1.8% |
| Q4 2024 | $383.6M | -1.7% |
TWI's revenue fell from its 2022 peak and has held roughly level since: $335M last quarter, down 28% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.3% | -2.4 points |
| Q2 2026 | 2.8% | +0.5 points |
| Q1 2026 | -2.7% | -5.1 points |
| Q4 2025 | -2.7% | +1.8 points |
| Q3 2025 | 2.1% | +1.5 points |
| Q2 2025 | 2.2% | -2 points |
| Q1 2025 | 2.4% | -2.8 points |
| Q4 2024 | -4.4% | -9.8 points |
TWI's operating margin was −0.3% last quarter, down 2.4 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 TWI on cash generation, producing positive trailing cash flow while its opponent burns cash.
TWI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $17.9M | -40% |
| Q2 2026 | $26.4M | +526% |
| Q1 2026 | -$59.8M | -$6.2M |
| Q4 2025 | -$5.1M | -$511K |
| Q3 2025 | $29.9M | -28% |
| Q2 2025 | $4.2M | -92% |
| Q1 2025 | -$53.6M | -$39M |
| Q4 2024 | -$4.6M | -123% |
TWI's free cash flow was −$21M over the past year, against −$24M 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 TWI 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.
TWI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +103K shares |
| 1 year | +1.1% | +712K shares |
| 3 years | +2.4% | +1.5M shares |
| 5 years | +3.2% | +2M shares |
| Available history | +7.5% | +4.5M shares |
TWI has 65M diluted shares, up 1.1% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q3 2024 | $8.3M |
| Q2 2024 | $6.4M |
| Q1 2024 | $1.4M |
| Q4 2023 | $13.5M |
| Q3 2023 | $12.7M |
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 TWI on leverage, with a lower net debt burden relative to earnings.
TWI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 8.5x | High |
| Q2 2026 | 6.2x | High |
| Q1 2026 | 7.0x | High |
| Q4 2025 | 4.4x | High |
| Q3 2025 | 4.4x | High |
| Q2 2025 | 5.5x | High |
| Q1 2025 | 4.9x | High |
| Q4 2024 | 3.9x | Elevated |
TWI's net debt is about 8.5 years of its operating earnings (EBITDA), up from 4.4 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).
TWI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.2 | Neutral |
| Stochastic | 9.6 | Oversold |
TWI's weekly RSI is 35 (neutral) and its Stochastic is 10 (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.
TWI PE vs Industrials Sector
| Metric | TWI | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
TWI 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 TWI on trend strength, trading above more of its moving averages.
TWI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.14 | 16% below |
| 20 week MA | $6.88 | 25% below |
| 50 week MA | $7.74 | 33% below |
| 100 week MA | $7.95 | 35% below |
| 200 week MA | $9.49 | 46% below |
TWI is in a downtrend: it's below all five of its weekly moving averages, and 46% 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 TWI on returns for 2026, with the stronger performance.
TWI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.49 | $4.70 | +35% |
| 2021 | $4.70 | $9.40 | +100% |
| 2022 | $9.40 | $15.6 | +66% |
| 2023 | $15.6 | $14.9 | -4.6% |
| 2024 | $14.9 | $6.92 | -53% |
| 2025 | $6.92 | $7.89 | +14% |
| 2026 YTD | $7.89 | $5.15 | -35% |
TWI's yearly returns have swung widely, from +100% in 2021 to −53% in 2024. It's down 35% so far in 2026.