CAT
Caterpillar Inc.
CAT has the edge over ZIM overall, supported by lower modeled downside and stronger modeled upside.
ZIM
ZIM Integrated Shipping Services Ltd.
ZIM trails on the overall score without a compensating advantage in the available component scores.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
ZIM Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Stable | |
| Healthy | |
| Stable |
ZIM's cash flow is currently healthy, and its profitability and balance sheet are stable, but its revenue is 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 has the edge over ZIM in the historical PE scenario, which offers more potential upside but is not a forecast.
ZIM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 0.6x | $0.66 | -98% |
| Fair | 1.4x | $1.63 | -94% |
| Expensive | 4.3x | $5.00 | -83% |
| Forward | 8.2x | $29.24 | — |
| Current | 25x | $29.24 | — |
Historical ranges are pointers, not guarantees.
ZIM's PE is in its expensive range at 25x. On analysts' estimates for next year's earnings, today's price would be 8.2x.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
CAT has the edge over ZIM on the outlook, with more favorable earnings and revenue expectations.
ZIM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Decline | |
| Stable | |
| Weakening | |
| Limited | |
| High |
Analysts expect ZIM's earnings and profitability to decline, with its revenue 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.
ZIM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.58 | +209% |
| Q2 2026 | $1.16 | -93% |
| Q1 2026 | $0.82 | -96% |
| Q4 2025 | $3.98 | -78% |
| Q3 2025 | $8.32 | -30% |
| Q2 2025 | $16.63 | +$32.93 |
| Q1 2025 | $19.52 | +$40.69 |
| Q4 2024 | $17.82 | +$40.22 |
| Q3 2024 | $11.93 | +$29.66 |
ZIM 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 has the edge over ZIM 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 has the edge over ZIM on profitability, with a higher operating margin.
ZIM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.8B | +8.9% |
| Q1 2026 | $1.4B | -30% |
| Q4 2025 | $1.5B | -32% |
| Q3 2025 | $1.8B | -36% |
| Q2 2025 | $1.6B | -15% |
| Q1 2025 | $2B | +28% |
| Q4 2024 | $2.2B | +80% |
| Q3 2024 | $2.8B | +117% |
ZIM's revenue is recovering but still below its 2022 peak: $1.8B last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 8.1% | -0.3 points |
| Q1 2026 | -1% | -24 points |
| Q4 2025 | 0.2% | -30 points |
| Q3 2025 | 14% | -30 points |
| Q2 2025 | 8.3% | -15 points |
| Q1 2025 | 23% | +12 points |
| Q4 2024 | 30% | +35 points |
| Q3 2024 | 44% | +62 points |
ZIM's operating margin was 8.1% 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 ZIM on cash flow, with more consistent year-over-year improvement.
ZIM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $383M | -8.1% |
| Q1 2026 | $231.4M | -70% |
| Q4 2025 | $246.3M | -77% |
| Q3 2025 | $561.1M | -61% |
| Q2 2025 | $416.9M | -41% |
| Q1 2025 | $776.7M | +157% |
| Q4 2024 | $1.1B | +787% |
| Q3 2024 | $1.4B | +347% |
ZIM's free cash flow has been positive every quarter for seven years: $1.4B over the past year, down 62% 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 ZIM 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.
ZIM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +181K shares |
| 1 year | +0.1% | +150K shares |
| 3 years | +0.4% | +463K shares |
| 5 years | +0.4% | +524K shares |
| Available history | +21% | +20.7M shares |
ZIM has 121M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
ZIM hasn't bought back shares in the past year.
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 ZIM on leverage, with a lower net debt burden relative to earnings.
ZIM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.2x | Moderate |
| Q1 2026 | 2.3x | Moderate |
| Q4 2025 | 1.9x | Healthy |
| Q3 2025 | 1.5x | Healthy |
| Q2 2025 | 1.2x | Healthy |
| Q1 2025 | 1.0x | Healthy |
| Q4 2024 | 1.2x | Healthy |
| Q3 2024 | 1.4x | Healthy |
ZIM's net debt is about 2.2 years of its operating earnings (EBITDA), up from 1.2 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).
ZIM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.7 | Neutral |
| Stochastic | 63.0 | Neutral |
ZIM's weekly RSI is 59 (neutral) and its Stochastic is 63 (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 ZIM on valuation relative to its sector.
ZIM PE vs Industrials Sector
| Metric | ZIM | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 24x | 4.7% above |
| PE % | 90 | 58 | 32 pts above |
ZIM is trading at 25x 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.
ZIM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.1 | 0.4% above |
| 20 week MA | $27.8 | 5.2% above |
| 50 week MA | $25.7 | 14% above |
| 100 week MA | $21.1 | 39% above |
| 200 week MA | $18.5 | 58% above |
ZIM 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.
ZIM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $12.1 | $53.7 | +345% |
| 2022 | $53.7 | $17.5 | -67% |
| 2023 | $17.5 | $9.87 | -44% |
| 2024 | $9.87 | $21.9 | +122% |
| 2025 | $21.9 | $21.4 | -2.5% |
| 2026 YTD | $21.4 | $29.2 | +37% |
ZIM has the edge over CAT on returns for 2026, with the stronger performance.