CAT
Caterpillar Inc.
CAT has the edge over LXFR overall, supported by stronger modeled upside and stronger fundamentals.
LXFR
Luxfer Holdings PLC
LXFR's outlook is improving despite an expensive valuation.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
LXFR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Healthy |
LXFR's balance sheet is currently healthy, and its revenue, profitability and cash flow are 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 has the edge over LXFR in the historical PE scenario, which offers more potential upside but is not a forecast.
LXFR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 16x | $3.48 | -80% |
| Forward | 17x | $17.34 | — |
| Fair | 23x | $4.99 | -71% |
| Expensive | 47x | $10.26 | -41% |
| Current | 79x | $17.34 | — |
Historical ranges are pointers, not guarantees.
LXFR's PE is in its expensive range at 79x. If earnings grow as analysts expect, today's price would be 17x next year's earnings, in its cheap range.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
CAT has the edge over LXFR on the outlook, with more favorable revenue expectations.
LXFR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect LXFR'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.
LXFR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.05 | +375% |
| Q3 2026 | $0.22 | -58% |
| Q2 2026 | $0.29 | -68% |
| Q1 2026 | $0.21 | -73% |
| Q4 2025 | $0.28 | -59% |
| Q3 2025 | $0.53 | +56% |
| Q2 2025 | $0.90 | +$1.08 |
| Q1 2025 | $0.78 | +7700% |
| Q4 2024 | $0.68 | +$0.75 |
LXFR 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 has the edge over LXFR 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 LXFR on profitability, with a higher operating margin.
LXFR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $91.7M | -1.3% |
| Q2 2026 | $95.7M | -8% |
| Q1 2026 | $83.9M | -14% |
| Q4 2025 | $90.7M | -12% |
| Q3 2025 | $92.9M | -6.5% |
| Q2 2025 | $104M | +4.3% |
| Q1 2025 | $97M | +8.5% |
| Q4 2024 | $103.4M | +7.8% |
LXFR's revenue has slid since its 2022 peak: $92M last quarter, down 1.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3% | -2.8 points |
| Q2 2026 | 8.2% | +0.8 points |
| Q1 2026 | 7.4% | -0.5 points |
| Q4 2025 | 3.6% | -0.2 points |
| Q3 2025 | 5.8% | -12 points |
| Q2 2025 | 7.4% | +3.6 points |
| Q1 2025 | 7.8% | +2.4 points |
| Q4 2024 | 3.9% | +16 points |
LXFR's operating margin was 3% last quarter, down 2.8 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.
LXFR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $12.4M | +20% |
| Q2 2026 | $0 | +$700K |
| Q1 2026 | -$6.1M | -245% |
| Q4 2025 | $12.4M | -45% |
| Q3 2025 | $10.3M | +5.1% |
| Q2 2025 | -$700K | -111% |
| Q1 2025 | $4.2M | +83% |
| Q4 2024 | $22.5M | +60% |
LXFR 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 LXFR 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.
LXFR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +73.8K shares |
| 1 year | +0.5% | +136K shares |
| 3 years | +1% | +279K shares |
| 5 years | -2.6% | -739K shares |
| Available history | -2.1% | -588K shares |
LXFR has 27M diluted shares, up 0.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $700,000 |
| Q1 2026 | $700,000 |
| Q4 2025 | $1.2M |
| Q3 2025 | $800,000 |
| Q2 2025 | $600,000 |
| Q1 2025 | $500,000 |
| Q4 2024 | $700,000 |
LXFR spent $3M buying back its own shares over the past year, about the same as 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 LXFR on leverage, with a lower net debt burden relative to earnings.
LXFR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 1.3x | Healthy |
| Q4 2025 | 0.9x | Very low |
| Q3 2025 | 1.1x | Healthy |
| Q2 2025 | 1.0x | Healthy |
| Q1 2025 | 1.0x | Healthy |
| Q4 2024 | 1.0x | Healthy |
LXFR's net debt is about 1.3 years of its operating earnings (EBITDA), up from 1.1 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).
LXFR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.6 | Neutral |
| Stochastic | 78.8 | Neutral |
LXFR's weekly RSI is 61 (neutral) and its Stochastic is 79 (neutral).
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 LXFR on valuation relative to its sector.
LXFR PE vs Industrials Sector
| Metric | LXFR | Sector median | Relative |
|---|---|---|---|
| PE | 79x | 24x | 227% above |
| PE % | 91 | 58 | 33 pts above |
LXFR is trading at 79x earnings, a 227% premium to 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.
LXFR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.3 | 0.4% above |
| 20 week MA | $17.2 | 1% above |
| 50 week MA | $15.6 | 11% above |
| 100 week MA | $14.0 | 24% above |
| 200 week MA | $13.1 | 32% above |
LXFR 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.
LXFR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.5 | $15.6 | -16% |
| 2021 | $15.6 | $19.3 | +24% |
| 2022 | $19.3 | $13.2 | -31% |
| 2023 | $13.2 | $8.94 | -32% |
| 2024 | $8.94 | $13.1 | +46% |
| 2025 | $13.1 | $14.1 | +7.5% |
| 2026 YTD | $14.1 | $17.3 | +23% |
LXFR has the edge over CAT on returns for 2026, with the stronger performance.