CAT
Caterpillar Inc.
CAT has the edge over VVX overall, supported by stronger modeled upside and stronger fundamentals.
VVX
V2X, Inc.
VVX's outlook is improving, though it still trails on the overall score.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
VVX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Stable |
VVX's revenue and profitability are currently healthy, and its cash flow and balance sheet are stable.
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 has the edge over VVX in the historical PE scenario, which offers more potential upside but is not a forecast.
VVX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $34.48 | -57% |
| Forward | 12x | $80.94 | — |
| Fair | 19x | $59.54 | -26% |
| Current | 26x | $80.94 | — |
| Expensive | 35x | $110 | +36% |
Historical ranges are pointers, not guarantees.
VVX's PE is in its fair range at 26x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its cheap range.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
CAT has the edge over VVX on the outlook, with more favorable profitability expectations.
VVX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for VVX, with profitability 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 earned $25.48 per share over the past year, up 31% from the year before.
VVX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.73 | +114% |
| Q3 2026 | $3.15 | +26% |
| Q2 2026 | $2.91 | +32% |
| Q1 2026 | $2.80 | +117% |
| Q4 2025 | $2.45 | +127% |
| Q3 2025 | $2.50 | +762% |
| Q2 2025 | $2.20 | +$2.59 |
| Q1 2025 | $1.29 | +$1.41 |
| Q4 2024 | $1.08 | +$1.81 |
VVX 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's revenue has grown year over year for five quarters in a row: $20.7B last quarter, up 17% from the same quarter a year ago.
| 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 VVX on profitability, with a higher operating margin.
VVX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +8.9% |
| Q2 2026 | $1.3B | +17% |
| Q1 2026 | $1.3B | +23% |
| Q4 2025 | $1.2B | +5.3% |
| Q3 2025 | $1.2B | +7.9% |
| Q2 2025 | $1.1B | +0.6% |
| Q1 2025 | $1B | +0.5% |
| Q4 2024 | $1.2B | +11% |
VVX's revenue has grown year over year for 23 quarters in a row: $1.3B last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.7% | -0.1 points |
| Q2 2026 | 4.3% | -0.6 points |
| Q1 2026 | 3.5% | +0.1 points |
| Q4 2025 | 4.2% | -0.2 points |
| Q3 2025 | 4.8% | +0.2 points |
| Q2 2025 | 4.9% | +2.4 points |
| Q1 2025 | 3.4% | +0.4 points |
| Q4 2024 | 4.5% | +0.8 points |
VVX's operating margin was 4.7% last quarter, about level with 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 VVX on cash flow, with more consistent year-over-year improvement.
VVX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $64M | +83% |
| Q2 2026 | $20.5M | -21% |
| Q1 2026 | -$132.2M | -$34M |
| Q4 2025 | $207.2M | -6.7% |
| Q3 2025 | $35M | -42% |
| Q2 2025 | $26.1M | +4.5% |
| Q1 2025 | -$98.2M | -$33.2M |
| Q4 2024 | $222M | +401% |
VVX still generates free cash flow, though less than at its 2024 peak: $159M 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 VVX 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.
VVX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +64K shares |
| 1 year | -0.8% | -268K shares |
| 3 years | +1.3% | +409K shares |
| 5 years | +167% | +19.8M shares |
| Available history | +169% | +19.9M shares |
VVX has 32M diluted shares, down 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | $20M |
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 VVX on leverage, with a lower net debt burden relative to earnings.
VVX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.5x | Moderate |
| Q2 2026 | 2.7x | Moderate |
| Q1 2026 | 2.8x | Moderate |
| Q4 2025 | 2.4x | Moderate |
| Q3 2025 | 3.1x | Elevated |
| Q2 2025 | 3.1x | Elevated |
| Q1 2025 | 3.5x | Elevated |
| Q4 2024 | 3.1x | Elevated |
VVX's net debt is about 2.5 years of its operating earnings (EBITDA), down 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).
VVX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.0 | Neutral |
| Stochastic | 52.3 | Neutral |
VVX's weekly RSI is 56 (neutral) and its Stochastic is 52 (neutral).
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 VVX on valuation relative to its sector.
VVX PE vs Industrials Sector
| Metric | VVX | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 24x | 6.8% above |
| PE % | 65 | 58 | 7 pts above |
VVX is trading at 26x earnings, in line with 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.
VVX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $75.0 | 8% above |
| 20 week MA | $77.3 | 4.8% above |
| 50 week MA | $72.0 | 12% above |
| 100 week MA | $61.4 | 32% above |
| 200 week MA | $54.7 | 48% above |
VVX 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.
VVX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $51.0 | $47.5 | -6.8% |
| 2021 | $47.5 | $45.8 | -3.6% |
| 2022 | $45.8 | $39.6 | -14% |
| 2023 | $39.6 | $46.4 | +17% |
| 2024 | $46.4 | $47.0 | +1.2% |
| 2025 | $47.0 | $55.8 | +19% |
| 2026 YTD | $55.8 | $80.9 | +45% |
VVX has the edge over CAT on returns for 2026, with the stronger performance.