CAT
Caterpillar Inc.
CAT has the edge over WSC overall, supported by stronger fundamentals and stronger modeled upside.
WSC
WillScot Holdings Corporation
WSC 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.
WSC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Strong | |
| Weak |
WSC's cash flow is currently strong, and its revenue is stable, but its profitability and balance sheet are 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.
WSC PE Valuation
WSC 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.
WSC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for WSC, 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 has the edge over WSC on earnings quality, reporting a profit while its opponent remains loss making.
WSC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.17 | — |
| Q3 2026 | -$0.33 | -127% |
| Q2 2026 | -$0.37 | -162% |
| Q1 2026 | -$0.37 | -511% |
| Q4 2025 | -$0.29 | -293% |
| Q3 2025 | $1.21 | +764% |
| Q2 2025 | $0.60 | -38% |
| Q1 2025 | $0.09 | -95% |
| Q4 2024 | $0.15 | -94% |
WSC has swung to a loss: it lost $0.33 per share over the past year, after a profit 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 WSC 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's operating margin was 20% last quarter, up 3.1 points from the same quarter a year ago.
WSC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $601.3M | +6.1% |
| Q2 2026 | $612.2M | +3.9% |
| Q1 2026 | $548.6M | -2% |
| Q4 2025 | $566M | -6.1% |
| Q3 2025 | $566.8M | -5.8% |
| Q2 2025 | $589.1M | -2.6% |
| Q1 2025 | $559.6M | -4.7% |
| Q4 2024 | $602.5M | -1.6% |
WSC's revenue grew through 2022 and has held roughly level since: $601M last quarter, up 6.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | 0 points |
| Q2 2026 | 19% | -2.3 points |
| Q1 2026 | 18% | -3.7 points |
| Q4 2025 | -32% | -61 points |
| Q3 2025 | 21% | +27 points |
| Q2 2025 | 22% | +22 points |
| Q1 2025 | 21% | -0.8 points |
| Q4 2024 | 29% | 0 points |
WSC 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 has the edge over WSC on cash flow, with more consistent year-over-year improvement.
WSC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $192.6M | +3% |
| Q2 2026 | $157.5M | -21% |
| Q1 2026 | $187.4M | -7.2% |
| Q4 2025 | $149.7M | -15% |
| Q3 2025 | $186.9M | +$191.8M |
| Q2 2025 | $199M | +18% |
| Q1 2025 | $202M | -0.1% |
| Q4 2024 | $176.6M | -17% |
WSC generated $687M in free cash flow over the past year, down 10% from 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 WSC 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.
WSC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -42K shares |
| 1 year | -0.6% | -1M shares |
| 3 years | -8.8% | -17.5M shares |
| 5 years | -22% | -50.1M shares |
| Available history | +59% | +67.7M shares |
WSC has 182M diluted shares, down 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $35,000 |
| Q2 2026 | — |
| Q1 2026 | $7.3M |
| Q4 2025 | $17.4M |
| Q3 2025 | $9.3M |
| Q2 2025 | $51.2M |
| Q1 2025 | $22M |
| Q4 2024 | $140.1M |
WSC spent $25M buying back its own shares over the past year, down 89% 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 WSC on leverage, with a lower net debt burden relative to earnings.
WSC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 13.7x | High |
| Q2 2026 | 14.2x | High |
| Q1 2026 | 13.7x | High |
| Q4 2025 | 12.9x | High |
| Q3 2025 | 5.7x | High |
| Q2 2025 | 7.7x | High |
| Q1 2025 | 10.6x | High |
| Q4 2024 | 10.7x | High |
WSC's net debt is about 14 years of its operating earnings (EBITDA), up from 5.7 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).
WSC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.9 | Neutral |
| Stochastic | 33.0 | Neutral |
WSC's weekly RSI is 47 (neutral) and its Stochastic is 33 (neutral).
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.
WSC PE vs Industrials Sector
| Metric | WSC | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
WSC 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 WSC on trend strength, trading above more of its moving averages.
WSC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.7 | 12% above |
| 20 week MA | $21.0 | 5.7% below |
| 50 week MA | $21.6 | 8.3% below |
| 100 week MA | $24.5 | 19% below |
| 200 week MA | $33.4 | 41% below |
WSC has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 41% 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 WSC on returns for 2026, with the stronger performance.
WSC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.2 | $22.6 | +24% |
| 2021 | $22.6 | $40.6 | +80% |
| 2022 | $40.6 | $45.7 | +13% |
| 2023 | $45.7 | $44.5 | -2.6% |
| 2024 | $44.5 | $33.7 | -24% |
| 2025 | $33.7 | $19.7 | -41% |
| 2026 YTD | $19.7 | $19.8 | +0.5% |
WSC has finished three years in a row lower, and it's up 0.5% so far in 2026.