CAT
Caterpillar Inc.
CAT has lower modeled downside risk, despite its lower overall score.
DHX
DHI Group, Inc.
DHX has the edge over CAT overall, supported by stronger valuation.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
DHX Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Strong |
DHX's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
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.
DHX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 20x | $4.47 | — |
| Current | 24x | $4.47 | — |
| Cheap | 28x | $5.33 | +19% |
| Fair | 44x | $8.41 | +88% |
| Expensive | 146x | $27.74 | +521% |
Historical ranges are pointers, not guarantees.
DHX 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 |
CAT has the edge over DHX on the outlook, with more favorable revenue expectations.
DHX Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect DHX's earnings to grow and its profitability to improve, with its revenue holding steady.
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.
DHX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.23 | +21% |
| Q3 2026 | $0.19 | +$0.50 |
| Q2 2026 | $0.03 | +$0.24 |
| Q1 2026 | -$0.05 | +$0.12 |
| Q4 2025 | -$0.30 | -3100% |
| Q3 2025 | -$0.31 | -875% |
| Q2 2025 | -$0.21 | -450% |
| Q1 2025 | -$0.17 | -525% |
| Q4 2024 | $0.01 | -88% |
DHX has returned to profit: it earned $0.19 per share over the past year, after losing money the year before.
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 has the edge over DHX on sales, with more consistent year-over-year improvement.
| 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 DHX on profitability, with a higher operating margin.
DHX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $32.2M | +0.4% |
| Q2 2026 | $31.3M | -2.1% |
| Q1 2026 | $29.7M | -8.1% |
| Q4 2025 | $31.4M | -9.8% |
| Q3 2025 | $32.1M | -9% |
| Q2 2025 | $32M | -11% |
| Q1 2025 | $32.3M | -10% |
| Q4 2024 | $34.8M | -6.7% |
DHX's revenue has slid since its 2022 peak: $32M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +26 points |
| Q2 2026 | 12% | +16 points |
| Q1 2026 | 10% | +38 points |
| Q4 2025 | 12% | +6.7 points |
| Q3 2025 | -14% | -16 points |
| Q2 2025 | -4% | -9.5 points |
| Q1 2025 | -27% | -33 points |
| Q4 2024 | 5% | -4.4 points |
DHX's operating margin was 12% last quarter, up 26 points from the same quarter a year ago, near the top of its range since 2019.
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.
DHX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $5.3M | +67% |
| Q2 2026 | $4.5M | -7.3% |
| Q1 2026 | $6.8M | +7585% |
| Q4 2025 | $5.7M | +260% |
| Q3 2025 | $3.2M | +38% |
| Q2 2025 | $4.8M | -13% |
| Q1 2025 | $88K | +$2.4M |
| Q4 2024 | $1.6M | -33% |
DHX 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 461M diluted shares, down 2.1% from a year ago, with $8.1B in buybacks over the past year.
| 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.
DHX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +89K shares |
| 1 year | -5.9% | -2.6M shares |
| 3 years | -4.8% | -2.1M shares |
| 5 years | -7.9% | -3.6M shares |
| Available history | -18% | -9.5M shares |
DHX has the edge over CAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.7M |
| Q2 2026 | $1.9M |
| Q1 2026 | $3.8M |
| Q4 2025 | $5.1M |
| Q3 2025 | $2.1M |
| Q2 2025 | $1.8M |
| Q1 2025 | $666,000 |
| Q4 2024 | — |
DHX spent $15M buying back its own shares over the past year, about three times what it spent the year before.
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 DHX on leverage, with a lower net debt burden relative to earnings.
DHX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.0x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 8.3x | High |
| Q3 2025 | 10.7x | High |
| Q2 2025 | 3.1x | Elevated |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 1.2x | Healthy |
DHX's net debt is about a year of its operating earnings (EBITDA), down from 11 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).
DHX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.7 | Neutral |
| Stochastic | 56.3 | Neutral |
DHX's weekly RSI is 57 (neutral) and its Stochastic is 56 (neutral).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.3% below |
| PE % | 69 | 58 | 11 pts above |
CAT is trading at 24x earnings, in line with the Industrials sector's median of 24x.
DHX PE vs Industrials Sector
| Metric | DHX | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 2.2% below |
| PE % | 12 | 58 | 46 pts below |
DHX has the edge over CAT on valuation relative to its sector.
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.
DHX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.68 | 4.5% below |
| 20 week MA | $4.37 | 2.3% above |
| 50 week MA | $3.29 | 36% above |
| 100 week MA | $2.77 | 61% above |
| 200 week MA | $2.81 | 59% above |
DHX 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.
DHX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.99 | $2.03 | -32% |
| 2021 | $2.03 | $6.04 | +198% |
| 2022 | $6.04 | $4.77 | -21% |
| 2023 | $4.77 | $2.59 | -46% |
| 2024 | $2.59 | $1.80 | -31% |
| 2025 | $1.80 | $1.62 | -10% |
| 2026 YTD | $1.62 | $4.47 | +176% |
DHX has the edge over CAT on returns for 2026, with the stronger performance.