ATS
ATS Corporation
ATS offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
BA
The Boeing Company
BA has the edge over ATS overall, supported by lower modeled downside.
ATS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Under pressure |
ATS's revenue, profitability and cash flow are currently healthy, but its balance sheet 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.
ATS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 26x | $8.68 | -49% |
| Fair | 36x | $12.33 | -28% |
| Current | 51x | $17.18 | — |
| Expensive | 54x | $18.33 | +6.7% |
Historical ranges are pointers, not guarantees.
ATS's PE is 51x, but its earnings don't support one, so it isn't a reliable read right now.
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 ATS in the historical PE scenario, which offers more potential upside but is not a forecast.
ATS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Decline | |
| Stable | |
| Weakening | |
| Limited | |
| Low |
Analysts expect ATS's earnings and profitability to decline, with its revenue holding steady. However, they disagree widely on these estimates.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
BA has the edge over ATS on the outlook, with more favorable earnings and revenue expectations.
ATS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.34 | +$0.62 |
| Q1 2026 | $0.51 | +$0.72 |
| Q4 2025 | $0.13 | -80% |
| Q3 2025 | -$0.04 | -104% |
| Q2 2025 | -$0.28 | -122% |
| Q1 2025 | -$0.21 | -115% |
| Q4 2024 | $0.64 | -50% |
| Q3 2024 | $0.92 | -21% |
ATS has returned to profit: it earned $0.34 per share over the past year, after losing money 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 ATS on earnings, with more consistent year-over-year improvement.
ATS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $487.7M | -5.8% |
| Q1 2026 | $525.2M | +30% |
| Q4 2025 | $534.3M | +17% |
| Q3 2025 | $512.1M | +19% |
| Q2 2025 | $517.9M | +6.1% |
| Q1 2025 | $403.7M | -27% |
| Q4 2024 | $458.4M | -13% |
| Q3 2024 | $430.8M | -17% |
ATS's revenue is growing: $488M last quarter, down 5.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 4.3% | -3.5 points |
| Q1 2026 | 3.1% | +23 points |
| Q4 2025 | 8.3% | +3.2 points |
| Q3 2025 | 10% | +6.7 points |
| Q2 2025 | 7.8% | -1.9 points |
| Q1 2025 | -20% | -29 points |
| Q4 2024 | 5.1% | -5.4 points |
| Q3 2024 | 3.6% | -7.7 points |
ATS 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 ATS 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's operating margin was 1.5% last quarter, up 22 points from the same quarter a year ago.
ATS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $98M | 0% |
| Q1 2026 | $87.2M | +1088% |
| Q4 2025 | $76.2M | +116% |
| Q3 2025 | $14.3M | +$57.7M |
| Q2 2025 | $98M | +$134.1M |
| Q1 2025 | $7.3M | 0% |
| Q4 2024 | $35.3M | 0% |
| Q3 2024 | -$43.4M | $0 |
ATS generated $276M in free cash flow over the past year, up 183% 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 ATS on cash flow, with more consistent year-over-year improvement.
ATS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.5% | +1.4M shares |
| 1 year | +0.1% | +144K shares |
| 3 years | +3.5% | +3.4M shares |
| 5 years | +6.5% | +6M shares |
| Available history | +6.5% | +6M shares |
ATS has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $7M |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $6.8M |
| Q2 2025 | $7M |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | $10.3M |
ATS spent $14M buying back its own shares over the past year, down 21% 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 | — |
ATS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 3.5x | Elevated |
| Q1 2026 | 3.1x | Elevated |
| Q4 2025 | 5.6x | High |
| Q3 2025 | 7.0x | High |
| Q2 2025 | 8.4x | High |
| Q1 2025 | 8.8x | High |
| Q4 2024 | 4.2x | High |
| Q3 2024 | 3.8x | Elevated |
ATS's net debt is about 3.5 years of its operating earnings (EBITDA), down from 8.4 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 ATS on leverage, with a lower net debt burden relative to earnings.
ATS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.7 | Neutral |
| Stochastic | 5.5 | Oversold |
ATS's weekly RSI is 31 (neutral) and its Stochastic is 5 (oversold).
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).
ATS PE vs Industrials Sector
| Metric | ATS | Sector median | Relative |
|---|---|---|---|
| PE | 51x | 24x | 113% above |
| PE % | 78 | 58 | 20 pts above |
ATS is trading at 51x earnings, a 113% premium to the Industrials sector's median of 24x, though its earnings don't support one.
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 ATS on valuation relative to its sector.
ATS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.1 | 5% below |
| 20 week MA | $21.0 | 18% below |
| 50 week MA | $26.4 | 35% below |
| 100 week MA | $27.1 | 37% below |
| 200 week MA | $32.1 | 47% below |
ATS is in a downtrend: it's below all five of its weekly moving averages, and 47% below its 200-week average.
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.
ATS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $16.6 | $17.8 | +7% |
| 2021 | $17.8 | $39.4 | +122% |
| 2022 | $39.4 | $32.8 | -17% |
| 2023 | $32.8 | $43.1 | +31% |
| 2024 | $43.1 | $30.0 | -30% |
| 2025 | $30.0 | $28.4 | -5.3% |
| 2026 YTD | $28.4 | $17.2 | -40% |
ATS has finished lower in three of the last six years. It's down 40% 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 ATS on returns for 2026, with the stronger performance.