ATI
ATI Inc.
ATI has the edge over BA overall, supported by stronger modeled upside and lower modeled downside.
BA
The Boeing Company
BA offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
ATI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Healthy |
ATI's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
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.
ATI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $73.57 | -61% |
| Fair | 26x | $104 | -45% |
| Forward | 30x | $190 | — |
| Current | 47x | $190 | — |
| Expensive | 57x | $228 | +20% |
Historical ranges are pointers, not guarantees.
ATI's PE is in its expensive range at 47x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its fair 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 ATI in the historical PE scenario, which offers more potential upside but is not a forecast.
ATI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for ATI, 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.
ATI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.27 | +56% |
| Q3 2026 | $4.01 | +30% |
| Q2 2026 | $3.42 | +19% |
| Q1 2026 | $3.03 | +9.8% |
| Q4 2025 | $2.85 | +12% |
| Q3 2025 | $3.09 | +19% |
| Q2 2025 | $2.88 | +13% |
| Q1 2025 | $2.76 | +11% |
| Q4 2024 | $2.55 | +1.6% |
ATI 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.
ATI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +26% |
| Q2 2026 | $1.3B | +11% |
| Q1 2026 | $1.2B | +0.6% |
| Q4 2025 | $1.2B | +0.4% |
| Q3 2025 | $1.1B | +7.1% |
| Q2 2025 | $1.1B | +4.1% |
| Q1 2025 | $1.1B | +9.7% |
| Q4 2024 | $1.2B | +10% |
ATI's revenue has grown year over year for 12 quarters in a row: $1.4B last quarter, up 26% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +4.7 points |
| Q2 2026 | 17% | +3.3 points |
| Q1 2026 | 14% | +1.4 points |
| Q4 2025 | 14% | -3.3 points |
| Q3 2025 | 14% | +0.9 points |
| Q2 2025 | 14% | +1.1 points |
| Q1 2025 | 13% | +1.8 points |
| Q4 2024 | 18% | +7.6 points |
ATI 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.
ATI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $61.8M | -63% |
| Q2 2026 | $63.2M | -29% |
| Q1 2026 | $73M | +$218.8M |
| Q4 2025 | $223.1M | -33% |
| Q3 2025 | $167M | +$208.8M |
| Q2 2025 | $89.4M | +119% |
| Q1 2025 | -$145.8M | +$18.8M |
| Q4 2024 | $333.6M | -8.3% |
ATI generated $421M in free cash flow over the past year, down 5.2% from 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 ATI on cash flow, with more consistent year-over-year improvement.
ATI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +100K shares |
| 1 year | -1.5% | -2.1M shares |
| 3 years | -7.9% | -11.8M shares |
| 5 years | -9.3% | -14.2M shares |
| Available history | -5.5% | -8.1M shares |
ATI has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $70M |
| Q2 2026 | $50M |
| Q1 2026 | $75M |
| Q4 2025 | — |
| Q3 2025 | $150M |
| Q2 2025 | $250M |
| Q1 2025 | $70M |
| Q4 2024 | $70M |
ATI spent $195M buying back its own shares over the past year, down 64% 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 | — |
ATI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.4x | Healthy |
| Q2 2026 | 1.6x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 1.7x | Healthy |
| Q3 2025 | 1.8x | Healthy |
| Q2 2025 | 1.9x | Healthy |
| Q1 2025 | 1.8x | Healthy |
| Q4 2024 | 1.5x | Healthy |
ATI 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.
ATI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.5 | Neutral |
| Stochastic | 26.3 | Neutral |
ATI's weekly RSI is 54 (neutral) and its Stochastic is 26 (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).
ATI PE vs Industrials Sector
| Metric | ATI | Sector median | Relative |
|---|---|---|---|
| PE | 47x | 24x | 97% above |
| PE % | 76 | 58 | 18 pts above |
ATI is trading at 47x earnings, a 97% 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 ATI on valuation relative to its sector.
ATI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $180.5 | 5.4% above |
| 20 week MA | $193.3 | 1.6% below |
| 50 week MA | $165.9 | 15% above |
| 100 week MA | $119.2 | 60% above |
| 200 week MA | $83.7 | 127% above |
ATI 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.
ATI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.0 | $16.7 | -20% |
| 2021 | $16.7 | $15.6 | -6.7% |
| 2022 | $15.6 | $30.3 | +94% |
| 2023 | $30.3 | $45.5 | +50% |
| 2024 | $45.5 | $55.5 | +22% |
| 2025 | $55.5 | $117.0 | +111% |
| 2026 YTD | $117.0 | $190.2 | +63% |
ATI 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.