CAT
Caterpillar Inc.
CAT has the edge over MAGN overall, supported by stronger modeled upside and lower modeled downside.
MAGN
Magnera Corp.
MAGN 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.
MAGN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Weak |
MAGN's cash flow is currently healthy, and its revenue and profitability are stable, but its balance sheet is weak.
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.
MAGN PE Valuation
MAGN has no meaningful PE right now: it lost money over the past year.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
CAT has the edge over MAGN on the outlook, with more favorable revenue and profitability expectations.
MAGN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect MAGN's earnings to grow, with its revenue and profitability 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 has the edge over MAGN on earnings quality, reporting a profit while its opponent remains loss making.
MAGN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.21 | — |
| Q2 2026 | -$3.13 | +$4.51 |
| Q1 2026 | -$3.08 | +$8.86 |
| Q4 2025 | -$3.73 | +$14.60 |
| Q3 2025 | -$4.47 | +$14.64 |
| Q2 2025 | -$7.64 | +$12.77 |
| Q1 2025 | -$11.94 | +$14.45 |
| Q4 2024 | -$18.33 | +$4.42 |
| Q3 2024 | -$19.11 | +$11.12 |
MAGN is still losing money, but far less than before: $3.13 per share over the past year, against $39.07 at its worst in mid-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 MAGN on profitability, with a higher operating margin.
MAGN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $857M | +2.1% |
| Q1 2026 | $796M | -3.4% |
| Q4 2025 | $792M | +13% |
| Q3 2025 | $839M | +153% |
| Q2 2025 | $839M | +155% |
| Q1 2025 | $824M | +152% |
| Q4 2024 | $702M | +119% |
| Q3 2024 | $332.1M | +0.7% |
MAGN has the edge over CAT on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 2.6% | +1 points |
| Q1 2026 | 2.1% | +1.7 points |
| Q4 2025 | 1.8% | +4.9 points |
| Q3 2025 | 1.2% | +0.3 points |
| Q2 2025 | 1.6% | -0.7 points |
| Q1 2025 | 0.5% | +1 points |
| Q4 2024 | -3.1% | -4.5 points |
| Q3 2024 | 0.9% | +0.1 points |
MAGN's operating margin was 2.6% last quarter, up 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.
MAGN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$28M | -$15M |
| Q1 2026 | $73M | +74% |
| Q4 2025 | -$13M | +$61M |
| Q3 2025 | $81M | +2130% |
| Q2 2025 | -$13M | -279% |
| Q1 2025 | $42M | +$83M |
| Q4 2024 | -$74M | -1049% |
| Q3 2024 | $3.6M | +10% |
MAGN 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 MAGN 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.
MAGN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.8% | +300K shares |
| 3 years | +936% | +32.4M shares |
| 5 years | +940% | +32.4M shares |
| Available history | +950% | +32.5M shares |
MAGN has 36M diluted shares, up 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2022 | — |
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 MAGN on leverage, with a lower net debt burden relative to earnings.
MAGN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 6.5x | High |
| Q1 2026 | 6.4x | High |
| Q4 2025 | 6.9x | High |
| Q3 2025 | 7.8x | High |
| Q2 2025 | 9.4x | High |
| Q1 2025 | 12.8x | High |
| Q4 2024 | 20.5x | High |
| Q3 2024 | 11.1x | High |
MAGN's net debt is about 6.5 years of its operating earnings (EBITDA), down from 9.4 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).
MAGN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.7 | Neutral |
| Stochastic | 58.2 | Neutral |
MAGN's weekly RSI is 57 (neutral) and its Stochastic is 58 (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.
MAGN PE vs Industrials Sector
| Metric | MAGN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
MAGN 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.
MAGN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.9 | 8.8% above |
| 20 week MA | $12.4 | 4.9% above |
| 50 week MA | $12.3 | 5.4% above |
| 100 week MA | $13.4 | 2.8% below |
| 200 week MA | $21.1 | 39% below |
MAGN 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 the edge over MAGN on returns for 2026, with the stronger performance.
MAGN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $237.3 | $218.9 | -7.7% |
| 2021 | $218.9 | $220.7 | +0.8% |
| 2022 | $220.7 | $37.2 | -83% |
| 2023 | $37.2 | $25.2 | -32% |
| 2024 | $25.2 | $18.3 | -27% |
| 2025 | $18.3 | $15.1 | -18% |
| 2026 YTD | $15.1 | $13.0 | -14% |
MAGN has finished four years in a row lower, and it's down 14% so far in 2026.