AAL
American Airlines Group Inc.
AAL offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
BA
The Boeing Company
BA has the edge over AAL overall, supported by stronger fundamentals and lower modeled downside.
AAL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Weak |
AAL's revenue is currently healthy, but its profitability, cash flow and balance sheet are under pressure.
BA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Under pressure |
BA's profitability is currently healthy, and its revenue and cash flow are stable, but its balance sheet is under pressure.
AAL PE Valuation
AAL has no meaningful PE right now: it lost money over the past year.
BA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 18x | $172 | — |
| Cheap | 51x | $496 | +189% |
| Fair | 82x | $790 | +360% |
| Expensive | 91x | $876 | +411% |
Historical ranges are pointers, not guarantees.
BA's PE is 18x, but its earnings don't support one, so it isn't a reliable read right now.
AAL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect AAL's losses to grow, with revenue growing. However, they disagree widely on these estimates.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
BA has the edge over AAL on the outlook, with more favorable earnings and profitability expectations.
AAL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.73 | -176% |
| Q2 2026 | -$0.49 | -154% |
| Q1 2026 | $0.31 | -69% |
| Q4 2025 | $0.17 | -86% |
| Q3 2025 | $0.96 | +118% |
| Q2 2025 | $0.90 | +$1.06 |
| Q1 2025 | $1.00 | +41% |
| Q4 2024 | $1.24 | +2.5% |
AAL has swung to a loss: it lost $0.73 per share over the past year, after a profit the year before.
BA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $9.66 | +$23.38 |
| Q2 2026 | $2.78 | +$19.33 |
| Q1 2026 | $2.53 | +$20.49 |
| Q4 2025 | $2.48 | +$20.84 |
| Q3 2025 | -$13.72 | -$0.83 |
| Q2 2025 | -$16.55 | -$10.93 |
| Q1 2025 | -$17.96 | -$14.42 |
| Q4 2024 | -$18.36 | -$14.69 |
BA has the edge over AAL on earnings quality, reporting a profit while its opponent remains loss making.
AAL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $16.3B | +19% |
| Q2 2026 | $16.7B | +16% |
| Q1 2026 | $13.9B | +11% |
| Q4 2025 | $14B | +2.5% |
| Q3 2025 | $13.7B | +0.3% |
| Q2 2025 | $14.4B | +0.4% |
| Q1 2025 | $12.6B | -0.2% |
| Q4 2024 | $13.7B | +4.6% |
AAL's revenue has grown year over year for six quarters in a row: $16.3B last quarter, up 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 0.7% | -0.4 points |
| Q2 2026 | 2.7% | -5.2 points |
| Q1 2026 | -0.3% | +1.9 points |
| Q4 2025 | 3.2% | -5.1 points |
| Q3 2025 | 1.1% | +0.5 points |
| Q2 2025 | 7.9% | -1.8 points |
| Q1 2025 | -2.1% | -2.2 points |
| Q4 2024 | 8.3% | +3.3 points |
AAL's operating margin was 0.7% last quarter, about level with the same quarter a year ago.
BA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.2B | +3.9% |
| Q2 2026 | $24.6B | +8% |
| Q1 2026 | $22.2B | +14% |
| Q4 2025 | $23.9B | +57% |
| Q3 2025 | $23.3B | +30% |
| Q2 2025 | $22.7B | +35% |
| Q1 2025 | $19.5B | +18% |
| Q4 2024 | $15.2B | -31% |
BA has the edge over AAL on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.5% | +22 points |
| Q2 2026 | 0.6% | +1.4 points |
| Q1 2026 | 2% | -0.3 points |
| Q4 2025 | 37% | +61 points |
| Q3 2025 | -21% | +12 points |
| Q2 2025 | -0.8% | +5.7 points |
| Q1 2025 | 2.4% | +2.9 points |
| Q4 2024 | -25% | -26 points |
BA has the edge over AAL on profitability, with a higher operating margin.
AAL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.2B | -$376M |
| Q2 2026 | -$351M | -176% |
| Q1 2026 | $3.4B | +109% |
| Q4 2025 | -$1.9B | -$1.6B |
| Q3 2025 | -$872M | -$681M |
| Q2 2025 | $464M | -2.7% |
| Q1 2025 | $1.6B | +20% |
| Q4 2024 | -$342M | +$1.9B |
AAL has burned cash in most quarters: −$91M over the past year, against $882M the year before.
BA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $464M | +95% |
| Q2 2026 | $631M | +$831M |
| Q1 2026 | -$1.5B | +$836M |
| Q4 2025 | $375M | +$4.5B |
| Q3 2025 | $238M | +$2.2B |
| Q2 2025 | -$200M | +$4.1B |
| Q1 2025 | -$2.3B | +$1.6B |
| Q4 2024 | -$4.1B | -239% |
BA has the edge over AAL on cash generation, producing positive trailing cash flow while its opponent burns cash.
AAL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +93K shares |
| 1 year | +0.4% | +2.3M shares |
| 3 years | +1.3% | +8.6M shares |
| 5 years | -8.1% | -58.4M shares |
| Available history | +52% | +227M shares |
AAL has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2021 | $5M |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | $13M |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | $2M |
| Q1 2020 | $171M |
BA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +2.1M shares |
| 1 year | +4.3% | +32.8M shares |
| 3 years | +31% | +186M shares |
| 5 years | +35% | +204M shares |
| Available history | +40% | +227M shares |
BA has 793M diluted shares, up 4.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
AAL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 9.8x | High |
| Q2 2026 | 9.6x | High |
| Q1 2026 | 7.4x | High |
| Q4 2025 | 8.3x | High |
| Q3 2025 | 6.8x | High |
| Q2 2025 | 7.2x | High |
| Q1 2025 | 6.7x | High |
| Q4 2024 | 6.5x | High |
AAL's net debt is about 9.8 years of its operating earnings (EBITDA), up from 6.8 years a year ago.
BA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Elevated |
| Q2 2026 | 5.7x | High |
| Q1 2026 | 6.0x | High |
| Q4 2025 | 6.9x | High |
| Q2 2024 | 361.8x | High |
| Q1 2024 | 36.1x | High |
| Q4 2023 | 36.4x | High |
| Q3 2023 | 96.1x | High |
BA has the edge over AAL on leverage, with a lower net debt burden relative to earnings.
AAL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.8 | Neutral |
| Stochastic | 28.9 | Neutral |
AAL's weekly RSI is 49 (neutral) and its Stochastic is 29 (neutral).
BA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.1 | Neutral |
| Stochastic | 9.6 | Oversold |
BA's weekly RSI is 31 (neutral) and its Stochastic is 10 (oversold).
AAL PE vs Industrials Sector
| Metric | AAL | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
AAL has no meaningful PE right now: it lost money over the past year.
BA PE vs Industrials Sector
| Metric | BA | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 0 | 58 | 58 pts below |
BA is trading at 18x earnings, a 26% discount to the Industrials sector's median of 24x, though its earnings don't support one.
AAL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.8 | 3.7% above |
| 20 week MA | $14.0 | 4.8% below |
| 50 week MA | $13.8 | 3.3% below |
| 100 week MA | $13.3 | 0.2% below |
| 200 week MA | $13.6 | 1.8% below |
AAL has the edge over BA on trend strength, trading above more of its moving averages.
BA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $184.6 | 7.1% below |
| 20 week MA | $203.8 | 16% below |
| 50 week MA | $215.5 | 20% below |
| 100 week MA | $205.9 | 17% below |
| 200 week MA | $200.6 | 14% below |
BA is in a downtrend: it's below all five of its weekly moving averages, and 14% below its 200-week average.
AAL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $28.4 | $15.7 | -45% |
| 2021 | $15.7 | $18.3 | +17% |
| 2022 | $18.3 | $12.7 | -30% |
| 2023 | $12.7 | $13.7 | +8.1% |
| 2024 | $13.7 | $17.4 | +26% |
| 2025 | $17.4 | $15.4 | -11% |
| 2026 YTD | $15.4 | $13.3 | -14% |
AAL has the edge over BA on returns for 2026, with the stronger performance.
BA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $330.1 | $217.2 | -34% |
| 2021 | $217.2 | $204.2 | -6% |
| 2022 | $204.2 | $189.1 | -7.4% |
| 2023 | $189.1 | $260.7 | +38% |
| 2024 | $260.7 | $180.7 | -31% |
| 2025 | $180.7 | $216.4 | +20% |
| 2026 YTD | $216.4 | $171.6 | -21% |
BA has finished lower in four of the last six years. It's down 21% so far in 2026.