AAON
AAON, Inc.
AAON has the edge over BA overall, supported by stronger modeled upside and stronger valuation.
BA
The Boeing Company
BA's outlook is improving, though it still trails on the overall score.
AAON Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Healthy | |
| Healthy |
AAON's revenue, profitability, cash flow and balance sheet are all currently healthy.
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.
AAON PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $78.80 | — |
| Current | 32x | $78.80 | — |
| Cheap | 40x | $98.59 | +25% |
| Fair | 48x | $117 | +48% |
| Expensive | 61x | $148 | +88% |
Historical ranges are pointers, not guarantees.
AAON's PE is in its cheap range at 32x. If earnings grow as analysts expect, today's price would be 23x next year's earnings.
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 has the edge over AAON in the historical PE scenario, which offers more potential upside but is not a forecast.
AAON Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for AAON, with profitability improving.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect BA to return to profit, with revenue growing. However, they disagree widely on these estimates.
AAON Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.42 | +40% |
| Q3 2026 | $2.45 | +101% |
| Q2 2026 | $1.99 | +34% |
| Q1 2026 | $1.38 | -28% |
| Q4 2025 | $1.29 | -36% |
| Q3 2025 | $1.22 | -46% |
| Q2 2025 | $1.48 | -33% |
| Q1 2025 | $1.91 | -11% |
| Q4 2024 | $2.02 | -5.2% |
AAON earned $2.45 per share over the past year, up 101% from 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 AAON on earnings, with more consistent year-over-year improvement.
AAON Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $707.4M | +84% |
| Q2 2026 | $642.1M | +106% |
| Q1 2026 | $492.5M | +53% |
| Q4 2025 | $424.2M | +42% |
| Q3 2025 | $384.2M | +17% |
| Q2 2025 | $311.6M | -0.6% |
| Q1 2025 | $322.1M | +23% |
| Q4 2024 | $297.7M | -2.9% |
AAON's revenue has grown year over year for five quarters in a row: $707M last quarter, up 84% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +2.8 points |
| Q2 2026 | 13% | +5.2 points |
| Q1 2026 | 11% | -0.3 points |
| Q4 2025 | 10% | +0.5 points |
| Q3 2025 | 11% | -8.7 points |
| Q2 2025 | 7.6% | -14 points |
| Q1 2025 | 11% | -7 points |
| Q4 2024 | 9.9% | -11 points |
AAON has the edge over BA on profitability, with a higher operating margin.
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's revenue has grown year over year for seven quarters in a row: $24.2B last quarter, up 3.9% from the same quarter a year ago.
| 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's operating margin was 1.5% last quarter, up 22 points from the same quarter a year ago.
AAON Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $91.9M | +650% |
| Q2 2026 | $21M | +$42.8M |
| Q1 2026 | $34M | +$43.2M |
| Q4 2025 | $19.3M | +2186% |
| Q3 2025 | $12.3M | -81% |
| Q2 2025 | -$21.8M | -161% |
| Q1 2025 | -$9.2M | -110% |
| Q4 2024 | $845K | -98% |
AAON's free cash flow has turned positive again: $166M over the past year, against −$18M 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 AAON on cash flow, with more consistent year-over-year improvement.
AAON Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -163K shares |
| 1 year | +0.7% | +606K shares |
| 3 years | +0.2% | +165K shares |
| 5 years | +4% | +3.2M shares |
| Available history | +5.8% | +4.6M shares |
AAON has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q1 2025 | $31.5M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q4 2023 | — |
| Q3 2023 | $25M |
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 | — |
AAON Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.0x | Healthy |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.0x | Very low |
| Q4 2024 | 0.6x | Very low |
AAON has the edge over BA on leverage, with a lower net debt burden relative to earnings.
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's net debt is about 3.0 years of its operating earnings (EBITDA), down from more than 20 years a year ago.
AAON Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.9 | Neutral |
| Stochastic | 24.0 | Neutral |
AAON's weekly RSI is 46 (neutral) and its Stochastic is 24 (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).
AAON PE vs Industrials Sector
| Metric | AAON | Sector median | Relative |
|---|---|---|---|
| PE | 32x | 24x | 34% above |
| PE % | 4 | 58 | 54 pts below |
AAON is trading at 32x earnings, a 34% premium to the Industrials sector's median of 24x.
BA PE vs Industrials Sector
| Metric | BA | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 0 | 58 | 58 pts below |
BA has the edge over AAON on valuation relative to its sector.
AAON Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $75.6 | 4.3% above |
| 20 week MA | $85.2 | 7.5% below |
| 50 week MA | $94.6 | 17% below |
| 100 week MA | $94.3 | 16% below |
| 200 week MA | $85.7 | 8.1% below |
AAON 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.
AAON Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $33.2 | $43.7 | +31% |
| 2021 | $43.7 | $52.4 | +20% |
| 2022 | $52.4 | $50.6 | -3.5% |
| 2023 | $50.6 | $73.9 | +46% |
| 2024 | $73.9 | $121.4 | +64% |
| 2025 | $121.4 | $75.8 | -38% |
| 2026 YTD | $75.8 | $78.8 | +4% |
AAON 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.