CAT
Caterpillar Inc.
CAT has slightly lower modeled downside risk, despite its lower overall score.
WWD
Woodward, Inc.
WWD has the edge over CAT overall, supported by stronger valuation and stronger fundamentals.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
WWD Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Healthy |
WWD'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 has the edge over WWD in the historical PE scenario, which offers more potential upside but is not a forecast.
WWD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 29x | $259 | -22% |
| Forward | 31x | $332 | — |
| Fair | 35x | $315 | -5.1% |
| Current | 37x | $332 | — |
| Expensive | 41x | $367 | +11% |
Historical ranges are pointers, not guarantees.
WWD's PE is in its fair range at 37x. If earnings grow as analysts expect, today's price would be 31x next year's earnings, in its cheap range.
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.
WWD Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for WWD, 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.
WWD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $10.67 | +19% |
| Q2 2026 | $8.99 | +42% |
| Q1 2026 | $8.35 | +35% |
| Q4 2025 | $7.94 | +33% |
| Q3 2025 | $7.19 | +20% |
| Q2 2025 | $6.32 | +5.5% |
| Q1 2025 | $6.19 | +8% |
| Q4 2024 | $5.97 | +26% |
| Q3 2024 | $6.01 | +59% |
WWD 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 WWD on profitability, with a higher operating margin.
WWD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.1B | +21% |
| Q1 2026 | $1.1B | +23% |
| Q4 2025 | $996.5M | +29% |
| Q3 2025 | $995.3M | +16% |
| Q2 2025 | $915.4M | +8% |
| Q1 2025 | $883.6M | +5.8% |
| Q4 2024 | $772.7M | -1.8% |
| Q3 2024 | $854.5M | +10% |
WWD's revenue has grown year over year for six quarters in a row: $1.1B last quarter, up 21% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 17% | +3.6 points |
| Q1 2026 | 15% | +0.3 points |
| Q4 2025 | 17% | +3.8 points |
| Q3 2025 | 16% | +4.2 points |
| Q2 2025 | 14% | -0.5 points |
| Q1 2025 | 15% | +0.6 points |
| Q4 2024 | 13% | -0.8 points |
| Q3 2024 | 12% | -0.7 points |
WWD's operating margin was 17% last quarter, up 3.6 points from the same quarter a year ago, near the top of its range since 2019.
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 WWD on cash flow, with more consistent year-over-year improvement.
WWD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $87.1M | -12% |
| Q1 2026 | $38.2M | -36% |
| Q4 2025 | $70.3M | +7364% |
| Q3 2025 | $180.9M | +54% |
| Q2 2025 | $99.1M | -28% |
| Q1 2025 | $59.4M | -28% |
| Q4 2024 | $942K | -81% |
| Q3 2024 | $117.7M | -12% |
WWD generated $377M in free cash flow over the past year, up 36% 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 WWD 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.
WWD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -258K shares |
| 1 year | -0.8% | -470K shares |
| 3 years | -0.9% | -573K shares |
| 5 years | -7.4% | -4.9M shares |
| Available history | -5.4% | -3.5M shares |
WWD has 61M diluted shares, down 0.8% from a year ago, with $602M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $198.1M |
| Q1 2026 | $225.9M |
| Q4 2025 | $129.4M |
| Q3 2025 | $48.6M |
| Q2 2025 | $44.8M |
| Q1 2025 | $44M |
| Q4 2024 | $35.5M |
| Q3 2024 | $86M |
WWD spent $602M buying back its own shares over the past year, up 186% 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 WWD on leverage, with a lower net debt burden relative to earnings.
WWD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 1.1x | Healthy |
| Q1 2026 | 0.8x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 0.8x | Very low |
| Q1 2025 | 1.0x | Very low |
| Q4 2024 | 1.1x | Healthy |
| Q3 2024 | 1.0x | Healthy |
WWD's net debt is about 1.1 years of its operating earnings (EBITDA), up from less than a year 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).
WWD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.5 | Neutral |
| Stochastic | 33.0 | Neutral |
WWD'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 has the edge over WWD on valuation relative to its sector.
WWD PE vs Industrials Sector
| Metric | WWD | Sector median | Relative |
|---|---|---|---|
| PE | 37x | 24x | 53% above |
| PE % | 62 | 58 | 4 pts above |
WWD is trading at 37x earnings, a 53% 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.
WWD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $322.9 | 2.8% above |
| 20 week MA | $350.2 | 5.2% below |
| 50 week MA | $354.6 | 6.4% below |
| 100 week MA | $287.2 | 16% above |
| 200 week MA | $213.1 | 56% above |
WWD 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.
WWD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $118.4 | $121.0 | +2.2% |
| 2021 | $121.0 | $107.7 | -11% |
| 2022 | $107.7 | $94.0 | -13% |
| 2023 | $94.0 | $136.1 | +45% |
| 2024 | $136.1 | $169.9 | +25% |
| 2025 | $169.9 | $311.4 | +83% |
| 2026 YTD | $311.4 | $331.9 | +6.6% |
WWD has the edge over CAT on returns for 2026, with the stronger performance.