CAT
Caterpillar Inc.
CAT has the edge over NNBR overall, supported by lower modeled downside and stronger modeled upside.
NNBR
NN, Inc.
NNBR 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.
NNBR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Weak |
NNBR's revenue is currently healthy, and its profitability is stable, but its cash flow and balance sheet 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.
NNBR PE Valuation
NNBR has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 21x next year's earnings.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for CAT, with profitability improving. However, they disagree widely on these estimates.
NNBR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect NNBR to return to profit, with revenue growing.
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 NNBR on earnings quality, reporting a profit while its opponent remains loss making.
NNBR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.15 | — |
| Q3 2026 | -$0.86 | +$0.38 |
| Q2 2026 | -$0.96 | +$0.18 |
| Q1 2026 | -$1.09 | -$0.09 |
| Q4 2025 | -$1.07 | +$0.04 |
| Q3 2025 | -$1.24 | -$0.15 |
| Q2 2025 | -$1.14 | $0.00 |
| Q1 2025 | -$1.00 | +$0.40 |
| Q4 2024 | -$1.11 | +$0.24 |
NNBR is still losing money, but far less than before: $0.86 per share over the past year, against $7.03 at its worst in mid-2020.
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 NNBR 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 NNBR on profitability, with a higher operating margin.
NNBR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $131.1M | +26% |
| Q2 2026 | $128.7M | +19% |
| Q1 2026 | $118.5M | +12% |
| Q4 2025 | $104.7M | -1.7% |
| Q3 2025 | $103.9M | -8.5% |
| Q2 2025 | $107.9M | -12% |
| Q1 2025 | $105.7M | -13% |
| Q4 2024 | $106.5M | -5.3% |
NNBR's revenue is recovering but still below its 2020 peak: $131M last quarter, up 26% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -2.5% | -0.4 points |
| Q2 2026 | 0.8% | +2.1 points |
| Q1 2026 | -1.7% | +2.8 points |
| Q4 2025 | -10% | +5.9 points |
| Q3 2025 | -2.2% | +1.1 points |
| Q2 2025 | -1.4% | +0.4 points |
| Q1 2025 | -4.5% | -0.6 points |
| Q4 2024 | -16% | -8.8 points |
NNBR's operating margin was −2.5% last quarter, about level with 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 has the edge over NNBR on cash generation, producing positive trailing cash flow while its opponent burns cash.
NNBR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.3M | -117% |
| Q2 2026 | $15.2M | +$19.6M |
| Q1 2026 | -$11.9M | -$4.7M |
| Q4 2025 | -$3.3M | -189% |
| Q3 2025 | $7.7M | +$9.1M |
| Q2 2025 | -$4.4M | +$454K |
| Q1 2025 | -$7.3M | -$2.5M |
| Q4 2024 | $3.7M | +198% |
NNBR has burned cash in most quarters: −$1M over the past year, against −$215,000 the year before.
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 NNBR 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.
NNBR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +55% | +27.9M shares |
| 1 year | +57% | +28.5M shares |
| 3 years | +64% | +30.6M shares |
| 5 years | +76% | +33.7M shares |
| Available history | +86% | +36.1M shares |
NNBR has 78M diluted shares, up 57% from a year ago.
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 NNBR on leverage, with a lower net debt burden relative to earnings.
NNBR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 7.0x | High |
| Q2 2026 | 6.5x | High |
| Q1 2026 | 8.0x | High |
| Q4 2025 | 8.7x | High |
| Q3 2025 | 12.4x | High |
| Q2 2025 | 12.7x | High |
| Q1 2025 | 10.0x | High |
| Q4 2024 | 7.4x | High |
NNBR's net debt is about 7.0 years of its operating earnings (EBITDA), down from 12 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).
NNBR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.5 | Neutral |
| Stochastic | 25.0 | Neutral |
NNBR's weekly RSI is 48 (neutral) and its Stochastic is 25 (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.
NNBR PE vs Industrials Sector
NNBR 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.
NNBR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.57 | 14% below |
| 20 week MA | $3.55 | 14% below |
| 50 week MA | $2.55 | 20% above |
| 100 week MA | $2.41 | 27% above |
| 200 week MA | $2.69 | 14% above |
NNBR 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.
NNBR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.50 | $6.20 | -35% |
| 2021 | $6.20 | $4.09 | -34% |
| 2022 | $4.09 | $1.45 | -65% |
| 2023 | $1.45 | $4.00 | +176% |
| 2024 | $4.00 | $3.38 | -16% |
| 2025 | $3.38 | $1.36 | -60% |
| 2026 YTD | $1.36 | $3.07 | +126% |
NNBR has the edge over CAT on returns for 2026, with the stronger performance.