Core Insights - Infrastructure stocks showed mixed signals in Q3 2025, with companies facing margin pressures and strong demand dynamics while varying in operational efficiency [2][3] Company Performance - **Caterpillar Inc. (CAT)**: Generated $17.64 billion in Q3 revenue, a 9.5% year-over-year increase, but experienced a decline in operating margin from 19.5% to 17.3% due to high manufacturing costs and tariffs [4][5] - **United Rentals Inc. (URI)**: Reported $4.23 billion in Q3 revenue, up 5.9% year-over-year, with an EBITDA margin of 46.0%. Despite strong demand, EBITDA margin decreased by 170 basis points from the previous year [8][9] - **Martin Marietta**: Achieved a leading operating margin of 27.9% and a profit margin of 16.7% [10] - **Vulcan Materials**: Increased full-year EBITDA guidance to $2.35-2.45 billion following an 80.8% surge in quarterly earnings [10] Market Dynamics - Caterpillar's market capitalization stands at $288.3 billion, with a forward earnings valuation of 27x and an EV/EBITDA of 21.6x, alongside a return on equity of 46.3% [5] - United Rentals holds a 13% market share in North America and a market capitalization of $52.3 billion, with a record backlog of $39.2 billion [9] - Insider selling at Caterpillar occurred near 52-week highs, indicating potential concerns among executives [6][10] - The stock's RSI reached 70.76, suggesting overbought conditions, with a mixed analyst consensus of 14 buy ratings against 14 hold or sell ratings [7]