CAT
Caterpillar Inc.
CAT has the edge over KRNT overall, supported by stronger fundamentals and stronger modeled upside.
KRNT
Kornit Digital Ltd.
KRNT offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
KRNT Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Under pressure | |
| Strong |
KRNT's balance sheet is currently strong, and its revenue is stable, but its profitability and cash flow are 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'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.
KRNT PE Valuation
KRNT has no meaningful PE right now: it lost money over the past year.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for CAT, with profitability improving. However, they disagree widely on these estimates.
KRNT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for KRNT, with profitability improving.
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 KRNT on earnings quality, reporting a profit while its opponent remains loss making.
KRNT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.23 | — |
| Q2 2026 | -$0.47 | -$0.22 |
| Q1 2026 | -$0.38 | -$0.20 |
| Q4 2025 | -$0.30 | +$0.05 |
| Q3 2025 | -$0.29 | +$0.59 |
| Q2 2025 | -$0.25 | +$0.78 |
| Q1 2025 | -$0.18 | +$1.04 |
| Q4 2024 | -$0.35 | +$0.97 |
| Q3 2024 | -$0.88 | +$0.67 |
KRNT is still losing money, but far less than before: $0.47 per share over the past year, against $1.86 at its worst in early 2023.
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 KRNT on profitability, with a higher operating margin.
KRNT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $55.3M | +11% |
| Q1 2026 | $48.5M | +4.5% |
| Q4 2025 | $58.9M | -3% |
| Q3 2025 | $53.1M | +4.7% |
| Q2 2025 | $49.8M | +2.3% |
| Q1 2025 | $46.5M | +6.1% |
| Q4 2024 | $60.7M | +7.3% |
| Q3 2024 | $50.7M | -14% |
KRNT's revenue is recovering but still below its 2021 peak: $55M last quarter, up 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -27% | -5.1 points |
| Q1 2026 | -28% | -1.8 points |
| Q4 2025 | -6.1% | -4.1 points |
| Q3 2025 | -15% | -1.1 points |
| Q2 2025 | -22% | +0.2 points |
| Q1 2025 | -26% | +16 points |
| Q4 2024 | -2% | +47 points |
| Q3 2024 | -14% | +11 points |
KRNT's operating margin was −27% last quarter, down 5.1 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.
KRNT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $1.8M | +$3.8M |
| Q1 2026 | $2.3M | +13% |
| Q4 2025 | $2.5M | -84% |
| Q3 2025 | $823.6K | -94% |
| Q2 2025 | -$2.1M | -169% |
| Q1 2025 | $2M | -27% |
| Q4 2024 | $15M | +755% |
| Q3 2024 | $12.8M | +$21.5M |
KRNT still generates free cash flow, though less than at its 2020 peak: $7M over the past year.
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.
KRNT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3.1% | -1.4M shares |
| 1 year | -5.1% | -2.3M shares |
| 3 years | -13% | -6.7M shares |
| 5 years | -10% | -5M shares |
| Available history | +1.7% | +712K shares |
KRNT has the edge over CAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $7.4M |
| Q1 2026 | $30.5M |
| Q4 2025 | $1.1M |
| Q3 2025 | $1M |
| Q2 2025 | $23.3M |
| Q1 2025 | $1.8M |
| Q4 2024 | $75M |
| Q3 2024 | $39,053 |
KRNT spent $40M buying back its own shares over the past year, down 60% from 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 more cash than debt.
KRNT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2025 | -2.7x | Net Cash |
| Q1 2025 | -6.7x | Net Cash |
| Q1 2022 | -3.5x | Net Cash |
| Q3 2021 | -2.5x | Net Cash |
| Q2 2021 | -2.7x | Net Cash |
| Q1 2021 | -5.0x | Net Cash |
| Q1 2020 | -77.7x | Net Cash |
| Q4 2019 | -1.5x | Net Cash |
KRNT has more cash than debt.
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).
KRNT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.7 | Neutral |
| Stochastic | 53.8 | Neutral |
KRNT's weekly RSI is 54 (neutral) and its Stochastic is 54 (neutral).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.1% below |
| PE % | 69 | 58 | 11 pts above |
CAT is trading at 24x earnings, in line with the Industrials sector's median of 24x.
KRNT PE vs Industrials Sector
| Metric | KRNT | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
KRNT has no meaningful PE right now: it lost money over the past year.
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.
KRNT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.2 | 0.3% below |
| 20 week MA | $16.6 | 3.5% above |
| 50 week MA | $15.6 | 9.7% above |
| 100 week MA | $17.8 | 4% below |
| 200 week MA | $19.2 | 11% below |
KRNT's trend is mixed: it's above two of its five weekly moving averages, and 11% below 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 finished every year since 2020 higher, and it's up 3.8% so far in 2026.
KRNT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $34.0 | $88.5 | +160% |
| 2021 | $88.5 | $143.7 | +62% |
| 2022 | $143.7 | $20.9 | -85% |
| 2023 | $20.9 | $19.2 | -8.2% |
| 2024 | $19.2 | $31.7 | +66% |
| 2025 | $31.7 | $14.5 | -54% |
| 2026 YTD | $14.5 | $17.1 | +18% |
KRNT has the edge over CAT on returns for 2026, with the stronger performance.