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.
VWAV
VisionWave Holdings, Inc.
There isn't enough reported data to score VWAV yet.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
VWAV Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Weak | |
| Unavailable | |
| Stable |
VWAV's balance sheet is currently stable, but its profitability 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.
VWAV PE Valuation
VWAV 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.
VWAV Forward outlook
There aren't enough analyst estimates for VWAV 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 has the stronger earnings trend. Trailing diluted EPS is up 31% for CAT versus VWAV down 723%.
VWAV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2025 | -$5.48 | -$4.60 |
| Q1 2025 | -$2.83 | -$1.83 |
| Q4 2024 | -$2.85 | -$2.40 |
| Q3 2024 | -$1.31 | -$0.97 |
| Q2 2024 | -$0.88 | -618% |
| Q1 2024 | -$1.00 | -235% |
| Q4 2023 | -$0.45 | -550% |
| Q3 2023 | -$0.34 | -362% |
VWAV lost $5.48 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'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 VWAV on profitability, with a higher operating margin.
VWAV Quarterly Revenue
VWAV's revenue is growing: $286,339 last quarter.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -6337% | N/A |
| Q4 2025 | -66% | N/A |
CAT has the edge over VWAV 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 has the stronger cash trend. Its trailing FCF is up 39% versus its history, compared with VWAV at down 612%.
VWAV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | -$5.4M | -$5.1M |
| Q4 2024 | -$276.5K | -$55.7K |
| Q3 2024 | -$166K | -$11.3K |
| Q2 2024 | -$257.5K | -$95.6K |
| Q1 2024 | -$162.2K | +$208.9K |
| Q4 2023 | -$220.8K | +$172.1K |
VWAV has burned cash in almost every quarter: −$15M over the past year, against −$806,420 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 VWAV 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.
VWAV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +11% | +107K shares |
| 1 year | +740% | +957K shares |
| 3 years | +298% | +813K shares |
| 5 years | +131% | +615K shares |
VWAV has 1M diluted shares, up 740% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
| Q3 2024 | $13.8M |
| Q2 2024 | — |
| Q1 2024 | $15.1M |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | $41.1M |
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.
VWAV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2023 | 2.7x | Moderate |
| Q3 2023 | 2.7x | Moderate |
| Q2 2023 | 0.4x | Very low |
| Q1 2023 | -0.0x | Net Cash |
| Q4 2022 | 3.3x | Elevated |
| Q3 2022 | -1.8x | Net Cash |
| Q4 2021 | -5.1x | Net Cash |
VWAV's net debt is about 2.7 years of its operating earnings (EBITDA), down from 3.3 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).
VWAV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 23.5 | Oversold |
| Stochastic | 0.4 | Oversold |
VWAV's weekly RSI is 23 (oversold) and its Stochastic is 0 (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.
VWAV PE vs Industrials Sector
VWAV 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 stronger trend alignment. CAT is above 2 of 5 weekly averages versus VWAV above 0 of 3.
VWAV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.45 | 84% below |
| 20 week MA | $24.4 | 98% below |
| 50 week MA | $101.7 | 99% below |
VWAV is in a downtrend: it's below all three of its weekly moving averages, and 99% below its 50-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 VWAV on returns for 2026, with the stronger performance.
VWAV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $58.0 | $193.8 | +234% |
| 2026 YTD | $193.8 | $0.56 | -100% |
VWAV has finished every year since 2025 higher, and it's down 100% so far in 2026.