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    Ultratrex (UTX)

    Market Price (1/10/2026): $0 | Market Cap: $-
    Sector: Industrials | Industry: Agricultural & Farm Machinery

    Ultratrex (UTX)

    Market Price (1/10/2026): $0
    Market Cap: $-
    Sector: Industrials
    Industry: Agricultural & Farm Machinery

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0 Low stock price volatility
    Vol 12M is 29%    		 Weak multi-year price returns
    3Y Excs Rtn is -17%    		 Key risks
    UTX key risks include [1] business concentration in geopolitically and economically sensitive regions like Southeast Asia and the Middle East and [2] operational and supply chain vulnerabilities from manufacturing facilities located solely in Malaysia and Indonesia.
    0 Low stock price volatility
    Vol 12M is 29%
    1 Weak multi-year price returns
    3Y Excs Rtn is -17%
    2 Key risks
    UTX key risks include [1] business concentration in geopolitically and economically sensitive regions like Southeast Asia and the Middle East and [2] operational and supply chain vulnerabilities from manufacturing facilities located solely in Malaysia and Indonesia.

    Valuation, Metrics & Events

    UTX Stock

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    During the approximate time period from October 31, 2025, to January 10, 2026, Ultratrex (UTX) stock displayed 0% movement primarily due to its status as a company undergoing or recently completing its Initial Public Offering (IPO) on the Nasdaq exchange.

    1. Ultratrex (UTX) was in the process of its Initial Public Offering (IPO) during this period. Multiple reports indicate that Ultratrex was expected to launch its IPO around late December 2025 or early January 2026.

    2. The company had filed its IPO registration documents with the SEC. Ultratrex, a Singaporean company specializing in marine environmental cleanup and dredging machinery, filed its F-1 registration statement with the SEC in September 2025, indicating its intention to list on Nasdaq under the ticker symbol UTX.

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    Stock Movement Drivers

    Fundamental Drivers

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    Market Drivers

    10/31/2025 to 1/9/2026
    ReturnCorrelation
    UTX0.0% 
    Market (SPY)1.8%�
    Sector (XLI)4.4%�

    Fundamental Drivers

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    Market Drivers

    7/31/2025 to 1/9/2026
    ReturnCorrelation
    UTX-1.2% 
    Market (SPY)10.1%22.5%
    Sector (XLI)7.0%43.2%

    Fundamental Drivers

    null
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    Market Drivers

    1/31/2025 to 1/9/2026
    ReturnCorrelation
    UTX22.0% 
    Market (SPY)16.3%42.6%
    Sector (XLI)18.2%53.0%

    Fundamental Drivers

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    Market Drivers

    1/31/2023 to 1/9/2026
    ReturnCorrelation
    UTX65.4% 
    Market (SPY)77.1%31.5%
    Sector (XLI)65.9%46.7%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    UTX Return23%20%-14%41%36%-142%
    Peers Return16%15%9%1%-3%��
    S&P 500 Return27%-19%24%23%16%1%84%

    Monthly Win Rates [3]
    UTX Win Rate67%58%42%58%67%- 
    Peers Win Rate57%55%43%45%52%� 
    S&P 500 Win Rate75%42%67%75%67%100% 

    Max Drawdowns [4]
    UTX Max Drawdown-8%-4%-30%0%-1%- 
    Peers Max Drawdown-8%-20%-15%-16%-24%� 
    S&P 500 Max Drawdown-1%-25%-1%-2%-15%0% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: DE, AGCO, GENC, WNC, UTX.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 1/9/2026 (YTD)

    How Low Can It Go

    Unique KeyEventUTXS&P 500
    2022 Inflation Shock2022 Inflation Shock  
    2022 Inflation Shock% Loss% Loss-33.7%-25.4%
    2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven50.9%34.1%
    2022 Inflation ShockTime to BreakevenTime to Breakeven217 days464 days
    2020 Covid Pandemic2020 Covid Pandemic  
    2020 Covid Pandemic% Loss% Loss-52.2%-33.9%
    2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven109.2%51.3%
    2020 Covid PandemicTime to BreakevenTime to Breakeven662 days148 days
    2018 Correction2018 Correction  
    2018 Correction% Loss% Loss-28.2%-19.8%
    2018 Correction% Gain to Breakeven% Gain to Breakeven39.2%24.7%
    2018 CorrectionTime to BreakevenTime to Breakeven126 days120 days
    2008 Global Financial Crisis2008 Global Financial Crisis  
    2008 Global Financial Crisis% Loss% Loss-54.2%-56.8%
    2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven118.5%131.3%
    2008 Global Financial CrisisTime to BreakevenTime to Breakeven689 days1,480 days

    Compare to DE, AGCO, GENC, WNC, UTX

    In The Past

    Ultratrex's stock fell -33.7% during the 2022 Inflation Shock from a high on 4/18/2023. A -33.7% loss requires a 50.9% gain to breakeven.

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    Asset Allocation

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    About Ultratrex (UTX)

    Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations. This segment also designs, produces, and supports cabin interior, communications and aviation systems, oxygen systems, food and beverage preparation, storage and galley systems, and lavatory and wastewater management systems; airborne intelligence, surveillance and reconnaissance systems, test and training range systems, crew escape systems, and simulation and training solutions; information management services; and aftermarket services that include spare parts, overhaul and repair, engineering and technical support, training and fleet management solutions, and information management services. The Pratt & Whitney segment supplies aircraft engines for commercial, military, business jet, and general aviation customers; and produces, sells, and services military and commercial auxiliary power units. The Raytheon Intelligence & Space segment develops and provides integrated space, communication, and sensor systems for missions, training, and cyber and software solutions to intelligence, defense, federal, and commercial customers. The Raytheon Missiles & Defense segment designs, develops, produces, and sustains integrated air and missile defense systems; defensive and combat solutions; land- and sea-based radars; command, control, communications, and intelligence solutions; and naval and undersea sensor solutions for the U.S. and foreign government customers. The company is headquartered in Waltham, Massachusetts.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    I was unable to locate a public company named Ultratrex with the stock symbol UTX in standard financial databases or public company registries. It is possible the company name or symbol is incorrect, or it may be a hypothetical entity. Therefore, I cannot identify its major products or services as requested.

    AI Analysis | Feedback

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    Major Customers of Ultratrex (UTX)

    Information regarding the major customers of Ultratrex (UTX) could not be retrieved.

    A comprehensive search for "Ultratrex" (UTX) indicates that this company does not appear to be a real, publicly traded entity with available financial or operational information. As such, it is not possible to identify its major customers or customer categories based on real-world data.

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    AI Analysis | Feedback

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    AI Analysis | Feedback

    The management team members of Ultratrex (UTX) are as follows:

    Wong Kok Seng, Executive Director, Chief Executive Officer

    Mr. Wong Kok Seng has over 20 years of industry experience, with a background in electrical engineering and various leadership roles. He is credited with transforming Ultratrex into a global leader in shallow water dredging equipment through his strategic vision, operational expertise, and expansion into international markets. He is instrumental in spearheading the growth of the Ultratrex Group and is primarily responsible for planning and executing the Group's business strategies and managing customer relationships.

    Taslim Podiono, Chief Financial Officer

    Mr. Taslim Podiono is responsible for overseeing financial reporting, audits, budgeting, and tax compliance for Ultratrex. He possesses extensive experience in finance and leadership positions within Indonesian firms, where he has focused on driving operational efficiency and strategic growth. Mr. Podiono is fluent in three languages and holds degrees in Accountancy and Finance from George Washington University, having graduated in 1995 and 1996.

    Halim, Executive Director and Chairman

    Mr. Halim brings over 17 years of experience in the industry to his role as Executive Director and Chairman of Ultratrex.

    AI Analysis | Feedback

    Here are the key risks to Ultratrex (UTX):

    1. Market Competition and Demand Fluctuations: Ultratrex operates in the environmental solutions and specialized machinery market, focusing on projects such as environmental clean-up, habitat restoration, and land reclamation. While the company states it has positioned itself as a market leader, this sector can be competitive. Demand for such specialized services and machinery is significantly influenced by government spending, environmental regulations, and general economic conditions in its key geographical markets, including Southeast Asia, the Middle East, and parts of Europe. A downturn in demand for these projects or intensified competition from other providers could adversely affect Ultratrex's revenue and profitability.
    2. Geopolitical and Economic Risks in Target Markets: Ultratrex's business is concentrated in specific regions, primarily Southeast Asia, the Middle East, and parts of Europe. These regions can be subject to economic instability, political changes, or shifts in environmental policy and government priorities. Any adverse developments in these areas, such as reduced funding for environmental projects or increased operational challenges due to geopolitical events, could directly impact the company's project pipeline and financial performance.
    3. Operational and Supply Chain Risks: Ultratrex manufactures its specialized amphibious machinery, aquatic weed harvesters, and dredgers in facilities located in Malaysia and Indonesia. This manufacturing process relies on a robust supply chain for raw materials and components. Risks such as disruptions in the supply chain, fluctuations in the cost or availability of raw materials, or challenges in maintaining consistent quality control could affect production schedules and increase operating costs. Furthermore, managing manufacturing operations and serving a global customer base across multiple countries introduces complexities related to international logistics, adherence to diverse trade regulations, and potential exposure to currency exchange rate fluctuations.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Addressable Markets for Ultratrex (UTX) Main Products and Services:

    • Amphibious Excavators: The global amphibious excavator market was estimated at USD 7.11 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2030, reaching USD 14.55 billion by 2030.
    • Environmental Cleanup and Dredging Machinery (including aquatic weed harvesters and dredgers): Ultratrex specializes in marine environmental cleanup and dredging machinery, including aquatic weed harvesters and dredgers, used for environmental cleanup projects, habitat restoration, and land reclamation. While a specific global market size for the combined "aquatic weed harvesters and dredgers for environmental cleanup and land reclamation" was not precisely identified, the broader "Material Handling Equipment Market" provides some context as these machines can be considered specialized material handling for specific environments. The global material handling equipment market was valued at USD 239.3 billion in 2024 and is projected to grow to USD 390.88 billion by 2032, exhibiting a CAGR of 6.4% during the forecast period. This market encompasses equipment used to move, store, control, and protect materials throughout the supply chain.

    AI Analysis | Feedback

    Ultratrex (UTX) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and favorable market trends. These key drivers include:

    1. Expansion of Manufacturing Capacity: Ultratrex plans to increase its manufacturing capacity in Indonesia to meet growing customer demand. The company intends to allocate 20% of its net IPO proceeds towards this expansion.
    2. Expansion into New Overseas Markets and Enhanced Sales Efforts: The company is focused on broadening its global footprint by increasing sales and establishing a stronger presence in international markets. This includes hiring dedicated sales and marketing representatives in the United States, Europe, and the Asia Pacific regions, as well as actively participating in key exhibitions and trade fairs to reach a wider audience. Ultratrex currently serves customers across Southeast Asia, Europe, and the Middle East and aims to expand the worldwide usage of its amphibious excavators.
    3. Introduction of New Products and Product Diversification through R&D: Ultratrex intends to invest significantly in research and development to introduce new and improved machinery. These advancements will focus on enhanced features, better efficiency, and increased capabilities, thereby expanding the company's product portfolio and attracting new customers and revenue streams. The company's current offerings already include a diverse range of amphibious machinery, aquatic weed harvesters, and dredgers.
    4. Strategic Collaborations and Investments: Ultratrex plans to engage in strategic alliances, joint ventures, acquisitions, and investments with suitable industry partners. An example of such collaboration is its partnership with Bell Dredging Pump B.V. in the Netherlands, driven by the high demand for shallow water dredging equipment.
    5. Growth in the Environmental Cleanup and Infrastructure Development Markets: The market for environmental cleanup, remediation equipment, and related services is substantial and is projected to experience significant growth. Ultratrex's products are integral to environmental restoration, land reclamation, and sustainable urban development. The global amphibious excavators market, in which Ultratrex operates, is forecast to grow at an estimated compound annual growth rate (CAGR) of approximately 10.6% between 2025 and 2034, fueled by increasing infrastructure development in wetland and coastal areas, rising demand for dredging and flood control projects, and the need for specialized equipment in challenging terrains.

    AI Analysis | Feedback

    Share Issuance

    • Ultratrex Inc. offered 1,250,000 Class A Shares in an initial public offering.
    • The anticipated initial public offering price for the Class A Shares was between US$4.00 and US$5.00 per share.
    • The authorized share capital consists of 450,000,000 Class A Shares and 50,000,000 Class B ordinary shares.

    Capital Expenditures

    • Ultratrex Malaysia and Ultratrex (Indonesia) anticipate difficulties in funding capital expenditures and implementing their business strategy.

    Trade Ideas

    Select ideas related to UTX. For more, see Trefis Trade Ideas.

    Unique Key

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    Peer Comparisons for Ultratrex

    Peers to compare with:

    Financials

    UTXDEAGCOGENCWNCMedian
    NameUltratrexDeere AGCO Gencor I.Wabash N. 
    Mkt Price-488.08111.9013.6610.3262.78
    Mkt Cap-131.98.30.20.04.3
    Rev LTM-44,66410,0491151,6385,844
    Op Inc LTM-8,41565814371514
    FCF LTM-3,2317491108429
    FCF 3Y Avg-3,9276546118386
    CFO LTM-7,4591,0223150586
    CFO 3Y Avg-8,4261,0508186618

    Growth & Margins

    UTXDEAGCOGENCWNCMedian
    NameUltratrexDeere AGCO Gencor I.Wabash N. 
    Rev Chg LTM--11.6%-20.1%2.0%-22.9%-15.8%
    Rev Chg 3Y Avg--3.4%-3.9%3.7%-9.8%-3.6%
    Rev Chg Q-11.7%-4.7%-10.0%-17.8%-7.4%
    QoQ Delta Rev Chg LTM-2.9%-1.2%-1.8%-4.8%-1.5%
    Op Mgn LTM-18.8%6.5%12.1%22.6%15.5%
    Op Mgn 3Y Avg-21.9%9.2%12.3%6.8%10.8%
    QoQ Delta Op Mgn LTM--1.1%0.4%-1.0%29.6%-0.3%
    CFO/Rev LTM-16.7%10.2%2.7%9.2%9.7%
    CFO/Rev 3Y Avg-16.4%8.6%6.9%8.7%8.6%
    FCF/Rev LTM-7.2%7.5%1.0%6.6%6.9%
    FCF/Rev 3Y Avg-7.6%5.4%5.2%5.6%5.5%

    Valuation

    UTXDEAGCOGENCWNCMedian
    NameUltratrexDeere AGCO Gencor I.Wabash N. 
    Mkt Cap-131.98.30.20.04.3
    P/S-3.00.81.70.01.3
    P/EBIT-14.034.814.30.014.1
    P/E-26.222.212.80.017.5
    P/CFO-17.78.265.30.012.9
    Total Yield-5.1%5.5%7.8%64,802.5%6.7%
    Dividend Yield-1.3%1.0%0.0%3,316.7%1.2%
    FCF Yield 3Y Avg-3.3%8.0%2.3%14,099.6%5.7%
    D/E-0.50.40.01,031.40.4
    Net D/E-0.40.2-0.7814.40.3

    Returns

    UTXDEAGCOGENCWNCMedian
    NameUltratrexDeere AGCO Gencor I.Wabash N. 
    1M Rtn-4.5%3.5%4.3%5.8%4.4%
    3M Rtn-9.7%8.1%-1.4%20.2%8.9%
    6M Rtn6.0%-4.1%1.5%-10.1%-2.6%-2.6%
    12M Rtn35.7%20.7%25.4%-15.2%-36.5%20.7%
    3Y Rtn65.3%16.4%-11.9%27.9%-57.4%16.4%
    1M Excs Rtn-4.0%5.7%9.2%9.6%7.5%
    3M Excs Rtn-3.9%-0.5%-7.6%10.7%1.7%
    6M Excs Rtn-5.3%-15.4%-9.8%-21.4%-13.8%-13.8%
    12M Excs Rtn19.1%1.8%5.6%-34.3%-54.1%1.8%
    3Y Excs Rtn-17.0%-60.6%-90.5%-49.6%-133.5%-60.6%

    Financials

    Segment Financials

    Revenue by Segment
    $ Mil20252024
    Amphibious machinery187
    Sales of parts22
    Service income00
    Rental of machinery00
    Dredgers00
    Aquatic weed harvesters00
    Total219


    Price Behavior

    Price Behavior
    Market Price$155.00 
    First Trading Date01/02/1970 
    Distance from 52W High-3.5% 
       50 Days200 Days
    DMA Price$153.43$133.20
    DMA Trendupindeterminate
    Distance from DMA1.0%16.4%
     3M1YR
    Volatility0.0%29.0%
    Downside Capture�36.87
    Upside Capture�72.12
    Correlation (SPY)�39.8%
    UTX Betas & Captures as of 12/31/2025

     1M2M3M6M1Y3Y
    Beta���0.180.480.44
    Up Beta���0.290.440.45
    Down Beta���0.090.650.58
    Up Capture0%0%0%23%40%15%
    Bmk +ve Days11233772143431
    Stock +ve Days0002798351
    Down Capture-0%-0%-0%10%35%56%
    Bmk -ve Days11182755108320
    Stock -ve Days0002173316

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
     UTX vs. Other Asset Classes (Last 1Y)
     UTXSector ETFEquityGoldCommoditiesReal EstateBitcoin
    Annualized Return61.8%23.5%17.6%70.4%6.4%5.3%-10.8%
    Annualized Volatility28.8%19.0%19.3%19.9%15.4%16.9%34.6%
    Sharpe Ratio1.660.980.712.570.200.14-0.14
    Correlation With Other Assets 53.8%42.1%11.2%27.2%36.3%-0.6%

    ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
     UTX vs. Other Asset Classes (Last 5Y)
     UTXSector ETFEquityGoldCommoditiesReal EstateBitcoin
    Annualized Return20.9%14.5%14.7%18.4%11.6%4.9%22.7%
    Annualized Volatility23.8%17.2%17.1%15.7%18.8%18.9%48.4%
    Sharpe Ratio0.780.680.690.940.500.170.48
    Correlation With Other Assets 60.0%45.4%9.0%22.7%39.2%18.8%

    ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
     UTX vs. Other Asset Classes (Last 10Y)
     UTXSector ETFEquityGoldCommoditiesReal EstateBitcoin
    Annualized Return13.8%13.8%14.9%15.1%7.0%5.3%70.9%
    Annualized Volatility27.5%19.9%18.0%14.8%17.6%20.8%55.7%
    Sharpe Ratio0.510.610.710.840.320.220.91
    Correlation With Other Assets 74.5%60.6%1.6%27.9%54.1%11.9%

    ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Earnings Returns History

    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    SUMMARY STATS   
    # Positive000
    # Negative000
    Median Positive   
    Median Negative   
    Max Positive   
    Max Negative   

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202511/24/2025POS AM (06/30/2025)
    12/31/202409/08/2025F-1 (12/31/2024)

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