CAT
Caterpillar Inc.
CAT has the edge over CXT overall, supported by stronger modeled upside and stronger fundamentals.
CXT
Crane NXT, Co.
CXT 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.
CXT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Strong | |
| Under pressure |
CXT's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet 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 CXT in the historical PE scenario, which offers more potential upside but is not a forecast.
CXT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $56.99 | — |
| Cheap | 15x | $32.96 | -42% |
| Fair | 19x | $41.21 | -28% |
| Current | 26x | $56.99 | — |
| Expensive | 27x | $60.07 | +5.4% |
Historical ranges are pointers, not guarantees.
CXT's PE is in its expensive range at 26x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its cheap range.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Low |
CAT has the edge over CXT on the outlook, with more favorable profitability expectations.
CXT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for CXT, but weaker profitability.
CAT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $29.73 | +17% |
| 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 has the edge over CXT on earnings, with more consistent year-over-year improvement.
CXT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.58 | +108% |
| Q3 2026 | $2.20 | -18% |
| Q2 2026 | $2.41 | -8% |
| Q1 2026 | $2.23 | -23% |
| Q4 2025 | $2.50 | -22% |
| Q3 2025 | $2.68 | -12% |
| Q2 2025 | $2.62 | -17% |
| Q1 2025 | $2.91 | -8.2% |
| Q4 2022 | $2.43 | -4.7% |
CXT's earnings per share have fallen from their peak: $2.20 over the past year, against $3.31 in mid-2022.
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 has the edge over CXT on profitability, with a higher operating margin.
CXT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $497.1M | +12% |
| Q2 2026 | $493.2M | +22% |
| Q1 2026 | $387.7M | +17% |
| Q4 2025 | $476.9M | +19% |
| Q3 2025 | $445.1M | +10% |
| Q2 2025 | $404.4M | +9.1% |
| Q1 2025 | $330.3M | +5.3% |
| Q4 2024 | $399.1M | +12% |
CXT's revenue has grown year over year for 10 quarters in a row: $497M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 13% | -5.2 points |
| Q2 2026 | 14% | +2.1 points |
| Q1 2026 | 5.7% | -5.6 points |
| Q4 2025 | 17% | -1 points |
| Q3 2025 | 18% | -0.2 points |
| Q2 2025 | 12% | -6.4 points |
| Q1 2025 | 11% | -6.4 points |
| Q4 2024 | 18% | -2.6 points |
CXT's operating margin was 13% last quarter, down 5.2 points from 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 generated $11.3B in free cash flow over the past year, up 26% from the year before.
CXT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $90.2M | +15% |
| Q2 2026 | $73.4M | +32% |
| Q1 2026 | -$24.1M | +$8.1M |
| Q4 2025 | $96M | +37% |
| Q3 2025 | $78.7M | +47% |
| Q2 2025 | $55.8M | +16% |
| Q1 2025 | -$32.2M | -$29.2M |
| Q4 2024 | $70.3M | +11% |
CXT 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 CXT 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.
CXT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +100K shares |
| 1 year | +0.2% | +100K shares |
| 3 years | +1% | +600K shares |
| 5 years | -66% | -113M shares |
| Available history | -67% | -116M shares |
CXT has 58M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $27.9M |
| Q1 2022 | $175.8M |
| Q4 2021 | $96.3M |
| Q3 2021 | — |
| Q2 2021 | — |
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 CXT on leverage, with a lower net debt burden relative to earnings.
CXT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Elevated |
| Q2 2026 | 3.2x | Elevated |
| Q1 2026 | 3.7x | Elevated |
| Q4 2025 | 2.6x | Moderate |
| Q3 2025 | 2.7x | Moderate |
| Q2 2025 | 3.0x | Moderate |
| Q1 2025 | 1.9x | Healthy |
| Q4 2024 | 1.6x | Healthy |
CXT's net debt is about 3.0 years of its operating earnings (EBITDA), up from 2.6 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).
CXT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.5 | Neutral |
| Stochastic | 73.0 | Neutral |
CXT's weekly RSI is 61 (neutral) and its Stochastic is 73 (neutral).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.1% below |
| PE % | 69 | 58 | 11 pts above |
CAT has the edge over CXT on valuation relative to its sector.
CXT PE vs Industrials Sector
| Metric | CXT | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 24x | 7.8% above |
| PE % | 82 | 58 | 24 pts above |
CXT is trading at 26x 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.
CXT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $54.0 | 5.6% above |
| 20 week MA | $52.2 | 9.2% above |
| 50 week MA | $48.8 | 17% above |
| 100 week MA | $53.1 | 7.3% above |
| 200 week MA | $54.1 | 5.4% above |
CXT 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.
CXT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $30.0 | $26.7 | -11% |
| 2021 | $26.7 | $34.6 | +30% |
| 2022 | $34.6 | $34.6 | -0.2% |
| 2023 | $34.6 | $56.9 | +65% |
| 2024 | $56.9 | $58.0 | +2% |
| 2025 | $58.0 | $48.4 | -17% |
| 2026 YTD | $48.4 | $57.0 | +18% |
CXT has the edge over CAT on returns for 2026, with the stronger performance.