ARQ
Arq, Inc.
ARQ offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
BA
The Boeing Company
BA has the edge over ARQ overall, supported by stronger fundamentals and lower modeled downside.
ARQ Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Stable | |
| Stable |
ARQ's revenue, cash flow and balance sheet are currently stable, but its profitability is weak.
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.
ARQ PE Valuation
ARQ has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 1545x 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's PE is 18x, but its earnings don't support one, so it isn't a reliable read right now.
ARQ Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect ARQ to return to profit, with revenue growing.
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.
ARQ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.00 | — |
| Q3 2026 | -$1.18 | -$1.08 |
| Q2 2026 | -$1.26 | -$1.22 |
| Q1 2026 | -$1.29 | -$1.24 |
| Q4 2025 | -$1.27 | -$1.13 |
| Q3 2025 | -$0.10 | -243% |
| Q2 2025 | -$0.04 | $0.00 |
| Q1 2025 | -$0.05 | +$0.14 |
| Q4 2024 | -$0.14 | +$0.28 |
ARQ lost $1.18 per share over the past year, a bigger loss than 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 ARQ on earnings quality, reporting a profit while its opponent remains loss making.
ARQ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $38.2M | +8.9% |
| Q2 2026 | $29.9M | +4.5% |
| Q1 2026 | $29.1M | +6.6% |
| Q4 2025 | $29.4M | +8.8% |
| Q3 2025 | $35.1M | +0.9% |
| Q2 2025 | $28.6M | +13% |
| Q1 2025 | $27.2M | +25% |
| Q4 2024 | $27M | -3.8% |
ARQ's revenue has grown year over year for seven quarters in a row: $38M last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.2% | +11 points |
| Q2 2026 | -0.2% | +5.2 points |
| Q1 2026 | -3.4% | -5.8 points |
| Q4 2025 | -174% | -176 points |
| Q3 2025 | -2.4% | -8.2 points |
| Q2 2025 | -5.4% | +0.1 points |
| Q1 2025 | 2.4% | +16 points |
| Q4 2024 | 1.5% | -9.5 points |
ARQ 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 has the edge over ARQ 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's operating margin was 1.5% last quarter, up 22 points from the same quarter a year ago.
ARQ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $9.6M | +209% |
| Q2 2026 | -$4M | -$2.6M |
| Q1 2026 | -$676K | +$8.8M |
| Q4 2025 | -$3.5M | +$34.2M |
| Q3 2025 | $3.1M | +$8.9M |
| Q2 2025 | -$1.4M | +$20.8M |
| Q1 2025 | -$9.5M | -$443K |
| Q4 2024 | -$37.8M | -$31.7M |
ARQ's free cash flow has turned positive after four years mostly in the red: $1M 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 ARQ on cash flow, with more consistent year-over-year improvement.
ARQ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2% | +847K shares |
| 1 year | +3.2% | +1.3M shares |
| 3 years | +35% | +11.1M shares |
| 5 years | +133% | +24.6M shares |
| Available history | +135% | +24.7M shares |
ARQ has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $159,000 |
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 | — |
ARQ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | 2.0x | Healthy |
| Q2 2025 | 1.9x | Healthy |
| Q1 2025 | 1.9x | Healthy |
| Q4 2024 | 1.7x | Healthy |
| Q3 2024 | -2.9x | Net Cash |
| Q2 2024 | -1.5x | Net Cash |
| Q1 2024 | -8.9x | Net Cash |
| Q2 2022 | -15.0x | Net Cash |
ARQ's net debt is about 2.0 years of its operating earnings (EBITDA), after holding more cash than debt 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's net debt is about 3.0 years of its operating earnings (EBITDA), down from more than 20 years a year ago.
ARQ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.3 | Neutral |
| Stochastic | 65.2 | Neutral |
ARQ's weekly RSI is 63 (neutral) and its Stochastic is 65 (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).
ARQ PE vs Industrials Sector
| Metric | ARQ | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
ARQ 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.
ARQ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.11 | 46% above |
| 20 week MA | $2.15 | 44% above |
| 50 week MA | $2.62 | 18% above |
| 100 week MA | $4.11 | 25% below |
| 200 week MA | $4.05 | 24% below |
ARQ 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.
ARQ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.1 | $5.96 | -41% |
| 2021 | $5.96 | $6.62 | +11% |
| 2022 | $6.62 | $2.28 | -66% |
| 2023 | $2.28 | $2.98 | +31% |
| 2024 | $2.98 | $7.13 | +139% |
| 2025 | $7.13 | $3.41 | -52% |
| 2026 YTD | $3.41 | $3.09 | -9.4% |
ARQ 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.