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Industrials Stocks — Earnings Quality & Moat Analysis

22 companies · Peer comparison

Industrial earnings quality tracks the order-book cycle: backlog growth versus revenue, working-capital intensity, and capex maintenance ratios. Capex below depreciation for multiple years is a yellow flag. Moats cluster around installed-base aftermarket revenue (aerospace, defense), distribution-network density (rail, logistics), and process-execution discipline (precision-engineering OEMs).

Company	Score	GM	ROE	CF/NI	FCF	GW/A
CPRTCopart2025	B88	—	16.9%	1.16x	$1.2B	5.1%
ADPADP2025	B88	46.0%	65.9%	1.21x	$4.9B	6.1%
CTASCintas2025	B87	50.0%	38.7%	1.20x	$1.8B	34.6%
FASTFastenal2025	B83	45.0%	31.9%	1.03x	$1.1B	—
VRSKVerisk Analytics2025	B82	69.9%	293.9%	1.58x	$1.2B	30.3%
PAYXPaychex2025	C78	72.4%	40.1%	1.15x	$1.7B	27.3%
PCARPACCAR2025	C76	20.1%	12.3%	1.86x	$3.7B	0.3%
ODFLOld Dominion Freight Line2025	C76	—	23.7%	1.34x	$955M	—
CATCATERPILLAR INC.2025	C75	33.8%	41.7%	1.32x	$8.9B	5.4%
CSXCSX Corporation2025	C75	—	22.0%	1.60x	$1.7B	0.2%
GWWW.W. Grainger, Inc.2025	C75	39.1%	45.7%	1.18x	$1.3B	4.0%
ITWILLINOIS TOOL WORKS INC2025	C71	52.9%	95.0%	1.02x	$2.7B	31.6%
GEGENERAL ELECTRIC COMPANY2025	D69	—	46.6%	0.98x	$7.3B	7.0%
UPSUnited Parcel Service, Inc.2025	D69	—	34.3%	1.52x	$4.8B	8.0%
DEDEERE & CO2025	D69	—	19.4%	1.48x	$6.1B	4.0%
RTXRTX CORPORATION2025	D68	—	10.3%	1.57x	$7.9B	31.2%
GDGENERAL DYNAMICS CORPORATION2025	D68	—	16.4%	1.22x	$4.0B	36.7%
LMTLOCKHEED MARTIN CORPORATION2025	D66	10.2%	74.6%	1.71x	$6.9B	18.9%
AXONAxon Enterprise2025	D64	59.7%	3.8%	1.70x	$75M	19.6%
HONHONEYWELL INTERNATIONAL INC2025	F59	36.9%	34.0%	1.36x	$5.4B	28.6%
MMM3M COMPANY2025	F51	39.9%	69.1%	0.71x	$1.4B	17.0%
BABOEING CO2025	F40	4.8%	41.0%	0.48x	$-1.9B	10.3%

Strong Moderate WeakGM = Gross Margin · ROE = Return on Equity · CF/NI = Cash Flow/Net Income · FCF = Free Cash Flow · GW/A = Goodwill/Assets