NOA
North American Construction Group Ltd.
Oil & Gas Equipment & Services
Market Cap$421M
5Y Perf.+126.2%
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Stock Comparison
NOA vs CAT
Revenue, margins, valuation, and 5-year total return — side by side.
CAT
Caterpillar Inc.
Agricultural - Machinery
Market Cap$431.16B
5Y Perf.+671.4%
NOA vs CAT — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | NOA | CAT |
|---|---|---|
| Industry | Oil & Gas Equipment & Services | Agricultural - Machinery |
| Market Cap | $421M | $431.16B |
| Revenue (TTM) | $1.28B | $70.75B |
| Net Income (TTM) | $34M | $9.42B |
| Gross Margin | 12.6% | 32.5% |
| Operating Margin | 8.6% | 16.6% |
| Forward P/E | 5.8x | 40.1x |
| Total Debt | $921M | $43.33B |
| Cash & Equiv. | $100M | $9.98B |
NOA vs CAT — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
NOA
CAT
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| North American Cons… (NOA) | 100 | 226.2 | +126.2% |
| Caterpillar Inc. (CAT) | 100 | 771.4 | +671.4% |
Price return only. Dividends and distributions are not included.
Quick Verdict: NOA vs CAT
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: NOA leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Caterpillar Inc. is the stronger pick specifically for profitability and margin quality and recent price momentum and sentiment. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
NOA
North American Construction Group Ltd.
The Income Pick
NOA carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 7 yrs, beta 1.16, yield 2.1%
- Rev growth 10.1%, EPS growth -25.0%, 3Y rev CAGR 18.6%
- Lower volatility, beta 1.16, current ratio 0.88x
Best for: income & stability and growth exposure
CAT
Caterpillar Inc.
The Long-Run Compounder
CAT is the clearest fit if your priority is long-term compounding.
- 12.2% 10Y total return vs NOA's 6.5%
- 13.3% margin vs NOA's 2.6%
- +190.7% vs NOA's -4.4%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | NOA | 10.1% revenue growth vs CAT's 4.3% |
| Value | NOA | Lower P/E (5.8x vs 40.1x) |
| Quality / Margins | CAT | 13.3% margin vs NOA's 2.6% |
| Stability / Safety | NOA | Beta 1.16 vs CAT's 1.54, lower leverage |
| Dividends | NOA | 2.1% yield, 7-year raise streak, vs CAT's 0.6% |
| Momentum (1Y) | CAT | +190.7% vs NOA's -4.4% |
| Efficiency (ROA) | CAT | 10.0% ROA vs NOA's 2.0%, ROIC 15.9% vs 6.8% |
NOA vs CAT — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
NOA vs CAT — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLCATLAGGINGNOA
NOANorth American Constr…
1leads
CATCaterpillar Inc.
3leads
6 Total Categories
CATEGORYLEADERvs NOAMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
CAT6/6
Valuation MetricsMultiples, price ratios, and targets
NOA5/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
CAT5/8
Total Returns1Y, 3Y, 5Y total returns with dividends
CAT6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
CAT leads this category, winning 6 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
CAT is the larger business by revenue, generating $70.8B annually — 55.1x NOA's $1.3B. CAT is the more profitable business, keeping 13.3% of every revenue dollar as net income compared to NOA's 2.6%. On growth, CAT holds the edge at +22.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | NOANorth American Co… | CATCaterpillar Inc. |
|---|---|---|
| RevenueTrailing 12 months | $1.3B | $70.8B |
| EBITDAEarnings before interest/tax | $328M | $14.0B |
| Net IncomeAfter-tax profit | $34M | $9.4B |
| Free Cash FlowCash after capex | -$22M | $11.4B |
| Gross MarginGross profit ÷ Revenue | +12.6% | +32.5% |
| Operating MarginEBIT ÷ Revenue | +8.6% | +16.6% |
| Net MarginNet income ÷ Revenue | +2.6% | +13.3% |
| FCF MarginFCF ÷ Revenue | -1.7% | +16.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | -0.1% | +22.2% |
| EPS Growth (YoY)Latest quarter vs prior year | -97.7% | +30.2% |
CAT leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
NOA leads this category, winning 5 of 5 comparable metrics.
Valuation Metrics
At 17.4x trailing earnings, NOA trades at a 65% valuation discount to CAT's 49.2x P/E. On an enterprise value basis, NOA's 4.2x EV/EBITDA is more attractive than CAT's 34.5x.
| Metric | NOANorth American Co… | CATCaterpillar Inc. |
|---|---|---|
| Market CapShares × price | $421M | $431.2B |
| Enterprise ValueMkt cap + debt − cash | $1.0B | $464.5B |
| Trailing P/EPrice ÷ TTM EPS | 17.39x | 49.21x |
| Forward P/EPrice ÷ next-FY EPS est. | 5.77x | 40.13x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.75x |
| EV / EBITDAEnterprise value multiple | 4.23x | 34.48x |
| Price / SalesMarket cap ÷ Revenue | 0.45x | 6.38x |
| Price / BookPrice ÷ Book value/share | 1.40x | 20.39x |
| Price / FCFMarket cap ÷ FCF | — | 41.97x |
NOA leads this category, winning 5 of 5 comparable metrics.
Profitability & Efficiency
CAT leads this category, winning 5 of 8 comparable metrics.
Profitability & Efficiency
CAT delivers a 47.5% return on equity — every $100 of shareholder capital generates $48 in annual profit, vs $8 for NOA. NOA carries lower financial leverage with a 2.02x debt-to-equity ratio, signaling a more conservative balance sheet compared to CAT's 2.03x.
| Metric | NOANorth American Co… | CATCaterpillar Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +7.9% | +47.5% |
| ROA (TTM)Return on assets | +2.0% | +10.0% |
| ROICReturn on invested capital | +6.8% | +15.9% |
| ROCEReturn on capital employed | +7.9% | +19.1% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 2.02x | 2.03x |
| Net DebtTotal debt minus cash | $821M | $33.4B |
| Cash & Equiv.Liquid assets | $100M | $10.0B |
| Total DebtShort + long-term debt | $921M | $43.3B |
| Interest CoverageEBIT ÷ Interest expense | 1.97x | 9.22x |
CAT leads this category, winning 5 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
CAT leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in CAT five years ago would be worth $40,189 today (with dividends reinvested), compared to $11,569 for NOA. Over the past 12 months, CAT leads with a +190.7% total return vs NOA's -4.4%. The 3-year compound annual growth rate (CAGR) favors CAT at 63.8% vs NOA's -6.8% — a key indicator of consistent wealth creation.
| Metric | NOANorth American Co… | CATCaterpillar Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -0.1% | +55.4% |
| 1-Year ReturnPast 12 months | -4.4% | +190.7% |
| 3-Year ReturnCumulative with dividends | -19.0% | +339.3% |
| 5-Year ReturnCumulative with dividends | +15.7% | +301.9% |
| 10-Year ReturnCumulative with dividends | +651.1% | +1223.1% |
| CAGR (3Y)Annualised 3-year return | -6.8% | +63.8% |
CAT leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — NOA and CAT each lead in 1 of 2 comparable metrics.
Risk & Volatility
NOA is the less volatile stock with a 1.16 beta — it tends to amplify market swings less than CAT's 1.54 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CAT currently trades 99.6% from its 52-week high vs NOA's 80.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | NOANorth American Co… | CATCaterpillar Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.16x | 1.54x |
| 52-Week HighHighest price in past year | $18.24 | $930.41 |
| 52-Week LowLowest price in past year | $12.07 | $318.11 |
| % of 52W HighCurrent price vs 52-week peak | +80.0% | +99.6% |
| RSI (14)Momentum oscillator 0–100 | 57.0 | 73.7 |
| Avg Volume (50D)Average daily shares traded | 125K | 2.4M |
Evenly matched — NOA and CAT each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — NOA and CAT each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates NOA as "Buy" and CAT as "Buy". Consensus price targets imply 67.9% upside for NOA (target: $25) vs -11.0% for CAT (target: $825). For income investors, NOA offers the higher dividend yield at 2.09% vs CAT's 0.63%.
| Metric | NOANorth American Co… | CATCaterpillar Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $24.50 | $824.80 |
| # AnalystsCovering analysts | 6 | 53 |
| Dividend YieldAnnual dividend ÷ price | +2.1% | +0.6% |
| Dividend StreakConsecutive years of raises | 7 | 8 |
| Dividend / ShareAnnual DPS | $0.41 | $5.86 |
| Buyback YieldShare repurchases ÷ mkt cap | +7.3% | +1.2% |
Evenly matched — NOA and CAT each lead in 1 of 2 comparable metrics.
Key Takeaway
CAT leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). NOA leads in 1 (Valuation Metrics). 2 tied.
Best OverallCaterpillar Inc. (CAT)Leads 3 of 6 categories
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NOA vs CAT: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is NOA or CAT a better buy right now?
For growth investors, North American Construction Group Ltd.
(NOA) is the stronger pick with 10. 1% revenue growth year-over-year, versus 4. 3% for Caterpillar Inc. (CAT). North American Construction Group Ltd. (NOA) offers the better valuation at 17. 4x trailing P/E (5. 8x forward), making it the more compelling value choice. Analysts rate North American Construction Group Ltd. (NOA) a "Buy" — based on 6 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — NOA or CAT?
On trailing P/E, North American Construction Group Ltd.
(NOA) is the cheapest at 17. 4x versus Caterpillar Inc. at 49. 2x. On forward P/E, North American Construction Group Ltd. is actually cheaper at 5. 8x.
03Which is the better long-term investment — NOA or CAT?
Over the past 5 years, Caterpillar Inc.
(CAT) delivered a total return of +301. 9%, compared to +15. 7% for North American Construction Group Ltd. (NOA). Over 10 years, the gap is even starker: CAT returned +1223% versus NOA's +651. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — NOA or CAT?
By beta (market sensitivity over 5 years), North American Construction Group Ltd.
(NOA) is the lower-risk stock at 1. 16β versus Caterpillar Inc. 's 1. 54β — meaning CAT is approximately 33% more volatile than NOA relative to the S&P 500. On balance sheet safety, North American Construction Group Ltd. (NOA) carries a lower debt/equity ratio of 2% versus 2% for Caterpillar Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — NOA or CAT?
By revenue growth (latest reported year), North American Construction Group Ltd.
(NOA) is pulling ahead at 10. 1% versus 4. 3% for Caterpillar Inc. (CAT). On earnings-per-share growth, the picture is similar: Caterpillar Inc. grew EPS -14. 6% year-over-year, compared to -25. 0% for North American Construction Group Ltd.. Over a 3-year CAGR, NOA leads at 18. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — NOA or CAT?
Caterpillar Inc.
(CAT) is the more profitable company, earning 13. 1% net margin versus 2. 6% for North American Construction Group Ltd. — meaning it keeps 13. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CAT leads at 16. 6% versus 8. 6% for NOA. At the gross margin level — before operating expenses — CAT leads at 32. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is NOA or CAT more undervalued right now?
On forward earnings alone, North American Construction Group Ltd.
(NOA) trades at 5. 8x forward P/E versus 40. 1x for Caterpillar Inc. — 34. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NOA: 67. 9% to $24. 50.
08Which pays a better dividend — NOA or CAT?
All stocks in this comparison pay dividends.
North American Construction Group Ltd. (NOA) offers the highest yield at 2. 1%, versus 0. 6% for Caterpillar Inc. (CAT).
09Is NOA or CAT better for a retirement portfolio?
For long-horizon retirement investors, Caterpillar Inc.
(CAT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (0. 6% yield, +1223% 10Y return). Both have compounded well over 10 years (CAT: +1223%, NOA: +651. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between NOA and CAT?
These companies operate in different sectors (NOA (Energy) and CAT (Industrials)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: NOA is a small-cap deep-value stock; CAT is a large-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(NOA: -0.1% · CAT: 22.2%)Net Margin>
%
(NOA: 2.6% · CAT: 13.3%)P/E Ratio<
x
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