ACM
Aecom
ACM offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
BA
The Boeing Company
BA has the edge over ACM overall, supported by stronger fundamentals and stronger modeled upside.
ACM Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Stable |
ACM's revenue, profitability and balance sheet are currently stable, but its cash flow is 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.
ACM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 11x | $70.11 | — |
| Cheap | 25x | $54.07 | -23% |
| Current | 32x | $70.11 | — |
| Fair | 36x | $77.53 | +11% |
| Expensive | 63x | $138 | +96% |
Historical ranges are pointers, not guarantees.
ACM's PE is in its fair range at 32x. If earnings grow as analysts expect, today's price would be 11x next year's earnings, in its cheap range.
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 ACM in the historical PE scenario, which offers more potential upside but is not a forecast.
ACM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect ACM's earnings to grow, with its revenue and profitability holding steady.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
BA has the edge over ACM on the outlook, with more favorable revenue and profitability expectations.
ACM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.23 | +186% |
| Q2 2026 | $2.18 | -52% |
| Q1 2026 | $3.83 | -16% |
| Q4 2025 | $3.52 | +0.3% |
| Q3 2025 | $4.21 | +43% |
| Q2 2025 | $4.58 | +146% |
| Q1 2025 | $4.58 | +$4.67 |
| Q4 2024 | $3.51 | +680% |
| Q3 2024 | $2.95 | +656% |
ACM has the edge over BA on earnings, with more consistent year-over-year improvement.
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 returned to profit: it earned $9.66 per share over the past year, after losing money the year before.
ACM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $3.6B | -14% |
| Q1 2026 | $3.8B | +0.8% |
| Q4 2025 | $3.8B | -4.6% |
| Q3 2025 | $4.2B | +1.6% |
| Q2 2025 | $4.2B | +0.7% |
| Q1 2025 | $3.8B | -4.4% |
| Q4 2024 | $4B | +2.9% |
| Q3 2024 | $4.1B | +7% |
ACM's revenue has slid since its 2019 peak: $3.6B last quarter, down 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -2.1% | -9.2 points |
| Q1 2026 | 6.5% | -0.3 points |
| Q4 2025 | 5.8% | -0.1 points |
| Q3 2025 | 5.7% | -0.1 points |
| Q2 2025 | 7% | +1.6 points |
| Q1 2025 | 6.8% | +1.8 points |
| Q4 2024 | 5.9% | +1.7 points |
| Q3 2024 | 5.8% | +3.7 points |
ACM's operating margin was −2.1% last quarter, down 9.2 points from the same quarter a year ago, near the bottom of its range since 2019.
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 ACM on sales, with more consistent year-over-year improvement.
| 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 ACM on profitability, with a higher operating margin.
ACM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $54.9M | -79% |
| Q1 2026 | -$27.4M | -115% |
| Q4 2025 | $41.9M | -62% |
| Q3 2025 | $134.1M | -51% |
| Q2 2025 | $261.7M | -4.1% |
| Q1 2025 | $178.3M | +141% |
| Q4 2024 | $110.9M | +28% |
| Q3 2024 | $274.5M | +4.4% |
ACM still generates free cash flow, though less than at its 2019 peak: $203M over the past year.
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 ACM on cash flow, with more consistent year-over-year improvement.
ACM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -671K shares |
| 1 year | -3.4% | -4.5M shares |
| 3 years | -7.3% | -10.2M shares |
| 5 years | -14% | -20.3M shares |
| Available history | -18% | -29.1M shares |
ACM has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $6,000 |
| Q1 2026 | $116M |
| Q4 2025 | $325.9M |
| Q3 2025 | $250.1M |
| Q2 2025 | $4.7M |
| Q1 2025 | $78.5M |
| Q4 2024 | $55.2M |
| Q3 2024 | $315.4M |
ACM spent $692M buying back its own shares over the past year, up 53% from the year before.
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 | — |
ACM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.0x | Moderate |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.2x | Healthy |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 0.6x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 0.9x | Very low |
| Q3 2024 | 0.9x | Very low |
ACM 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.
ACM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.1 | Neutral |
| Stochastic | 50.5 | Neutral |
ACM's weekly RSI is 51 (neutral) and its Stochastic is 51 (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).
ACM PE vs Industrials Sector
| Metric | ACM | Sector median | Relative |
|---|---|---|---|
| PE | 32x | 24x | 34% above |
| PE % | 40 | 58 | 18 pts below |
ACM 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 ACM on valuation relative to its sector.
ACM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $62.4 | 12% above |
| 20 week MA | $65.6 | 6.9% above |
| 50 week MA | $78.7 | 11% below |
| 100 week MA | $95.2 | 26% below |
| 200 week MA | $92.8 | 24% below |
ACM 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.
ACM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $43.2 | $48.7 | +13% |
| 2021 | $48.7 | $75.9 | +56% |
| 2022 | $75.9 | $84.7 | +12% |
| 2023 | $84.7 | $92.4 | +9.1% |
| 2024 | $92.4 | $107.7 | +16% |
| 2025 | $107.7 | $97.4 | -9.5% |
| 2026 YTD | $97.4 | $70.1 | -28% |
ACM has finished higher in five of the last six years. It's down 28% so far in 2026.
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 the edge over ACM on returns for 2026, with the stronger performance.