CAT
Caterpillar Inc.
CAT's fundamentals are strong, but it looks expensive: trading at 24x earnings, above its usual 18x. Analysts expect strong earnings growth, though they disagree widely on how much.
MATH
Metalpha Technology Holding Limited
There isn't enough reported data to score MATH yet.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
MATH Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Weak | |
| Unavailable | |
| Unavailable |
MATH's profitability is currently weak. There isn't enough data to rate its revenue, cash flow and balance sheet.
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.
MATH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6x | N/A | N/A |
| Fair | 9x | N/A | N/A |
| Expensive | 39x | N/A | N/A |
| Current | 49x | $0.99 | — |
Historical ranges are pointers, not guarantees.
MATH's PE is 49x, but its earnings don't support one, so it isn't a reliable read right now.
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.
MATH Forward outlook
There aren't enough analyst estimates for MATH to show an outlook.
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 earned $25.48 per share over the past year, up 31% from the year before.
MATH Earnings Per Share
MATH and CAT do not have enough comparable growth data to identify a winner.
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's operating margin was 20% last quarter, up 3.1 points from the same quarter a year ago.
MATH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2025 | $12M | -39% |
| Q3 2022 | $4.4M | +255% |
| Q3 2021 | $1.2M | +2441% |
| Q3 2020 | $48.5K | -93% |
| Q1 2019 | $421.1K | -82% |
| Q1 2018 | $2.4M | -0.4% |
| Q3 2017 | $1.9M | +61% |
MATH's revenue is growing: $0 last quarter.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2025 | -24% | N/A |
| Q3 2024 | 39% | +45 points |
| Q3 2022 | -5.9% | +3007 points |
| Q3 2021 | -449% | -425 points |
| Q1 2021 | -1396% | -790 points |
| Q3 2020 | -3013% | N/A |
| Q3 2019 | -24% | -54 points |
| Q1 2019 | -606% | -665 points |
MATH's operating margin was −24% last quarter, up 1372 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.
MATH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q1 2026 | $64.9M | +$73.8M |
| Q1 2025 | -$9M | -$3.6M |
| Q1 2024 | -$5.3M | -1050% |
| Q1 2020 | -$719.7K | -197% |
MATH and CAT do not have enough comparable growth data to identify a winner.
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 MATH 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.
MATH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +12% | +4.8M shares |
| 1 year | +25% | +9.4M shares |
| 3 years | +305% | +34.8M shares |
MATH has 46M diluted shares, up 25% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2026 | $18,340 |
| Q1 2025 | — |
| Q1 2024 | — |
| Q3 2023 | $82,127 |
| Q1 2023 | $353,816 |
| Q1 2020 | — |
| Q1 2019 | — |
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.
MATH Net Leverage
MATH's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
MATH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.0 | Neutral |
| Stochastic | 48.2 | Neutral |
MATH's weekly RSI is 46 (neutral) and its Stochastic is 48 (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 MATH on valuation relative to its sector.
MATH PE vs Industrials Sector
| Metric | MATH | Sector median | Relative |
|---|---|---|---|
| PE | 49x | 24x | 104% above |
| PE % | 93 | 58 | 35 pts above |
MATH is trading at 49x earnings, a 104% premium to the Industrials sector's median of 24x, though its earnings don't support one.
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 the edge over MATH on trend strength, trading above more of its moving averages.
MATH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.02 | 2.9% below |
| 20 week MA | $0.95 | 4.2% above |
| 50 week MA | $1.28 | 23% below |
| 100 week MA | $1.92 | 48% below |
| 200 week MA | $1.60 | 38% below |
MATH's trend is mixed: it's above one of its five weekly moving averages, and 38% 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 the edge over MATH on returns for 2026, with the stronger performance.
MATH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1.22 | $2.43 | +99% |
| 2021 | $2.43 | $1.16 | -52% |
| 2022 | $1.16 | $0.52 | -55% |
| 2023 | $0.52 | $2.18 | +319% |
| 2024 | $2.18 | $1.07 | -51% |
| 2025 | $1.07 | $2.38 | +122% |
| 2026 YTD | $2.38 | $0.99 | -58% |
MATH's yearly returns have swung widely, from +319% in 2023 to −55% in 2022. It's down 58% so far in 2026.