CAT
Caterpillar Inc.
CAT has lower modeled downside risk, despite its lower overall score.
CRDO
Credo Technology Group Holding Ltd
CRDO 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.
CRDO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CRDO'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's PE is in its expensive range at 24x. If earnings grow as analysts expect, today's price would be 20x next year's earnings, in its fair range.
CRDO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $140 | — |
| Current | 49x | $140 | — |
| Cheap | 75x | $212 | +52% |
| Fair | 124x | $353 | +152% |
| Expensive | 395x | $1,122 | +703% |
Historical ranges are pointers, not guarantees.
CRDO has the edge over CAT in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
CRDO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for CRDO, 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.
CRDO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.35 | +194% |
| Q3 2026 | $2.84 | +312% |
| Q2 2026 | $2.51 | +766% |
| Q1 2026 | $1.82 | +18100% |
| Q4 2025 | $1.16 | +$1.31 |
| Q3 2025 | $0.69 | +$0.85 |
| Q2 2025 | $0.29 | +$0.47 |
| Q1 2025 | $0.01 | +$0.24 |
| Q4 2024 | -$0.15 | +$0.06 |
CRDO 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's operating margin was 20% last quarter, up 3.1 points from the same quarter a year ago.
CRDO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $479M | +115% |
| Q2 2026 | $437M | +157% |
| Q1 2026 | $407M | +201% |
| Q4 2025 | $268M | +272% |
| Q3 2025 | $223.1M | +274% |
| Q2 2025 | $170M | +180% |
| Q1 2025 | $135M | +154% |
| Q4 2024 | $72M | +64% |
CRDO has the edge over CAT on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | -2 points |
| Q2 2026 | 36% | +16 points |
| Q1 2026 | 37% | +17 points |
| Q4 2025 | 29% | +41 points |
| Q3 2025 | 27% | +51 points |
| Q2 2025 | 20% | +33 points |
| Q1 2025 | 19% | +31 points |
| Q4 2024 | -12% | +8.5 points |
CRDO has the edge over CAT on profitability, with a higher operating margin.
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 generated $11.3B in free cash flow over the past year, up 26% from the year before.
CRDO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $82.9M | +62% |
| Q2 2026 | $177.5M | +228% |
| Q1 2026 | $139.7M | +$140.1M |
| Q4 2025 | $38.5M | +$50.1M |
| Q3 2025 | $51.3M | +$64.4M |
| Q2 2025 | $54.2M | +5531% |
| Q1 2025 | -$383K | +$5.8M |
| Q4 2024 | -$11.7M | -494% |
CRDO has the edge over CAT on cash flow, with more consistent year-over-year improvement.
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 CRDO 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.
CRDO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.3% | +6.1M shares |
| 1 year | +5.3% | +9.8M shares |
| 3 years | +30% | +45.1M shares |
| 5 years | +39% | +54.4M shares |
CRDO has 194M diluted shares, up 5.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | $22.9M |
| Q3 2020 | — |
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 more cash than debt.
CRDO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.9x | Net Cash |
| Q2 2026 | -2.4x | Net Cash |
| Q1 2026 | -3.5x | Net Cash |
| Q4 2025 | -2.5x | Net Cash |
| Q3 2025 | -1.6x | Net Cash |
| Q2 2025 | -4.0x | Net Cash |
| Q1 2025 | -22.2x | Net Cash |
CRDO has the edge over CAT on leverage, with a lower net debt burden relative to earnings.
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).
CRDO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.0 | Neutral |
| Stochastic | 9.2 | Oversold |
CRDO's weekly RSI is 42 (neutral) and its Stochastic is 9 (oversold).
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 CRDO on valuation relative to its sector.
CRDO PE vs Technology Sector
| Metric | CRDO | Sector median | Relative |
|---|---|---|---|
| PE | 49x | 28x | 77% above |
| PE % | 1 | 48 | 47 pts below |
CRDO is trading at 49x earnings, a 77% premium to the Technology sector's median of 28x.
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.
CRDO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $171.8 | 19% below |
| 20 week MA | $199.0 | 30% below |
| 50 week MA | $174.7 | 20% below |
| 100 week MA | $134.3 | 4.1% above |
| 200 week MA | $78.2 | 79% above |
CRDO has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 79% above its 200-week average.
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 the edge over CRDO on returns for 2026, with the stronger performance.
CRDO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2022 | $11.2 | $13.0 | +16% |
| 2023 | $13.0 | $19.5 | +50% |
| 2024 | $19.5 | $69.3 | +256% |
| 2025 | $69.3 | $144.8 | +109% |
| 2026 YTD | $144.8 | $139.8 | -3.5% |
CRDO has finished every year since 2022 higher, and it's down 3.5% so far in 2026.