CAT
Caterpillar Inc.
CAT has lower modeled downside risk, despite its lower overall score.
XMTR
Xometry, Inc.
XMTR has the edge over CAT overall, supported by stronger valuation.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
XMTR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Under pressure | |
| Strong |
XMTR's revenue and balance sheet are currently strong, and its profitability is stable, but its cash flow is 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.
XMTR PE Valuation
XMTR 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 |
Analysts expect earnings and revenue growth for CAT, with profitability improving. However, they disagree widely on these estimates.
XMTR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for XMTR, with profitability improving.
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 XMTR on earnings quality, reporting a profit while its opponent remains loss making.
XMTR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.28 | — |
| Q3 2026 | -$0.34 | +$0.91 |
| Q2 2026 | -$0.60 | +$0.63 |
| Q1 2026 | -$1.02 | -$0.03 |
| Q4 2025 | -$1.22 | -$0.19 |
| Q3 2025 | -$1.25 | -$0.19 |
| Q2 2025 | -$1.23 | -$0.13 |
| Q1 2025 | -$0.99 | +$0.38 |
| Q4 2024 | -$1.03 | +$0.38 |
XMTR is still losing money, but far less than before: $0.34 per share over the past year, against $2.26 at its worst in late 2021.
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 XMTR on profitability, with a higher operating margin.
XMTR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $252.4M | +40% |
| Q2 2026 | $229.3M | +41% |
| Q1 2026 | $205.1M | +36% |
| Q4 2025 | $192.4M | +30% |
| Q3 2025 | $180.7M | +28% |
| Q2 2025 | $162.5M | +23% |
| Q1 2025 | $151M | +23% |
| Q4 2024 | $148.5M | +16% |
XMTR has the edge over CAT on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 0% | +6.1 points |
| Q2 2026 | -2.4% | +3.9 points |
| Q1 2026 | -2.5% | +7.6 points |
| Q4 2025 | -4.6% | +3.2 points |
| Q3 2025 | -6.1% | +2 points |
| Q2 2025 | -6.3% | +5.2 points |
| Q1 2025 | -10% | +4.4 points |
| Q4 2024 | -7.8% | +2 points |
XMTR's operating margin was 0% last quarter, up 6.1 points from the same quarter a year ago, near the top of its range since 2020.
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 XMTR on cash generation, producing positive trailing cash flow while its opponent burns cash.
XMTR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $7.9M | +$9.5M |
| Q2 2026 | -$10.8M | -$3.4M |
| Q1 2026 | $4.4M | +$13.6M |
| Q4 2025 | -$5.9M | -229% |
| Q3 2025 | -$1.7M | +$6.8M |
| Q2 2025 | -$7.4M | +$6.1M |
| Q1 2025 | -$9.2M | +$6.9M |
| Q4 2024 | $4.5M | +$12.3M |
XMTR has burned cash in almost every quarter: −$4M over the past year, against −$14M 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 XMTR 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.
XMTR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +14% | +7.4M shares |
| 1 year | +19% | +9.5M shares |
| 3 years | +27% | +12.8M shares |
| 5 years | +36% | +16.1M shares |
XMTR has 60M diluted shares, up 19% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $8.1M |
| Q1 2025 | — |
| Q3 2024 | — |
XMTR hasn't bought back shares in the past year.
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.
XMTR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -2.4x | Net Cash |
XMTR has the edge over CAT on leverage, with a lower net debt burden relative to earnings.
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).
XMTR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.1 | Neutral |
| Stochastic | 72.5 | Neutral |
XMTR's weekly RSI is 65 (neutral) and its Stochastic is 73 (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.
XMTR PE vs Industrials Sector
XMTR 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.
XMTR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $102.9 | 17% above |
| 20 week MA | $96.2 | 25% above |
| 50 week MA | $75.8 | 59% above |
| 100 week MA | $57.2 | 111% above |
| 200 week MA | $39.0 | 209% above |
XMTR 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.
XMTR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $69.5 | $50.9 | -27% |
| 2022 | $50.9 | $31.3 | -39% |
| 2023 | $31.3 | $35.9 | +15% |
| 2024 | $35.9 | $44.2 | +23% |
| 2025 | $44.2 | $62.7 | +42% |
| 2026 YTD | $62.7 | $120.8 | +93% |
XMTR has the edge over CAT on returns for 2026, with the stronger performance.