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.
XPON
Expion360 Inc.
There isn't enough reported data to score XPON yet.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
XPON Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Weak | |
| Unavailable |
XPON's revenue, profitability and cash flow are currently under pressure. There isn't enough data to rate its 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.
XPON PE Valuation
XPON has no meaningful PE right now: it lost money over the past year.
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.
XPON Forward outlook
There aren't enough analyst estimates for XPON 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.
XPON Earnings Per Share
XPON 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 has the edge over XPON on profitability, with a higher operating margin.
XPON Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $2M | -32% |
| Q1 2026 | $1.6M | -24% |
| Q4 2025 | $2.2M | +12% |
| Q3 2025 | $2.4M | +72% |
| Q2 2025 | $3M | +134% |
| Q1 2025 | $2M | +111% |
| Q4 2024 | $2M | +131% |
| Q3 2024 | $1.4M | -26% |
XPON has the edge over CAT on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -64% | -19 points |
| Q1 2026 | -113% | -57 points |
| Q4 2025 | -234% | -175 points |
| Q3 2025 | -125% | +13 points |
| Q2 2025 | -45% | +86 points |
| Q1 2025 | -56% | +146 points |
| Q4 2024 | -59% | +194 points |
| Q3 2024 | -139% | -43 points |
XPON's operating margin was −64% last quarter, down 19 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 has the edge over XPON on cash generation, producing positive trailing cash flow while its opponent burns cash.
XPON Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$1.5M | -$1.1M |
| Q1 2026 | -$1.1M | +$101.1K |
| Q4 2025 | -$2.4M | +$489.1K |
| Q3 2025 | -$2.1M | +$1.1M |
| Q2 2025 | -$401K | +$1.3M |
| Q1 2025 | -$1.2M | +$453.5K |
| Q4 2024 | -$2.9M | -$1.6M |
| Q3 2024 | -$3.2M | -$2.6M |
XPON has burned cash in almost every quarter: −$7M over the past year, against −$8M 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 XPON 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.
XPON Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -73 shares |
| 1 year | +6.5% | +372 shares |
XPON has 6,131 diluted shares, up 6.5% 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 more cash than debt.
XPON Net Leverage
XPON'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).
XPON Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.4 | Neutral |
| Stochastic | 2.9 | Oversold |
XPON's weekly RSI is 32 (neutral) and its Stochastic is 3 (oversold).
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.1% below |
| PE % | 69 | 58 | 11 pts above |
CAT is trading at 24x earnings, in line with the Industrials sector's median of 24x.
XPON PE vs Industrials Sector
XPON 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 the edge over XPON on trend strength, trading above more of its moving averages.
XPON Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.66 | 34% below |
| 20 week MA | $4.16 | 42% below |
| 50 week MA | $6.81 | 65% below |
| 100 week MA | $11.0 | 78% below |
| 200 week MA | $1,867.9 | 100% below |
XPON is in a downtrend: it's below all five of its weekly moving averages, and 100% 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 XPON on returns for 2026, with the stronger performance.
XPON Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2022 | $9,516.0 | $2,820.0 | -70% |
| 2023 | $2,820.0 | $6,468.0 | +129% |
| 2024 | $6,468.0 | $26.3 | -100% |
| 2025 | $26.3 | $9.84 | -63% |
| 2026 YTD | $9.84 | $2.41 | -76% |
XPON's yearly returns have swung widely, from +129% in 2023 to −100% in 2024. It's down 76% so far in 2026.