BA
The Boeing Company
BA has a slight edge over BLDP overall, supported by lower modeled downside and stronger fundamentals.
BLDP
Ballard Power Systems Inc.
BLDP offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
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.
BLDP Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
BLDP's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
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.
BLDP PE Valuation
BLDP has no meaningful PE right now: it lost money over the past year.
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.
BLDP Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect BLDP's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
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 BLDP on earnings quality, reporting a profit while its opponent remains loss making.
BLDP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.26 | +$0.72 |
| Q1 2026 | -$0.27 | +$0.74 |
| Q4 2025 | -$0.30 | +$0.78 |
| Q3 2025 | -$0.39 | +$0.72 |
| Q2 2025 | -$0.98 | -$0.34 |
| Q1 2025 | -$1.01 | -$0.38 |
| Q4 2024 | -$1.08 | -$0.48 |
| Q3 2024 | -$1.11 | -$0.57 |
BLDP is still losing money, but far less than before: $0.26 per share over the past year, against $1.11 at its worst in late 2024.
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 BLDP 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 BLDP on profitability, with a higher operating margin.
BLDP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $20.1M | +13% |
| Q1 2026 | $19.4M | +26% |
| Q4 2025 | $33.6M | +37% |
| Q3 2025 | $32.5M | +120% |
| Q2 2025 | $17.8M | +11% |
| Q1 2025 | $15.4M | +6.5% |
| Q4 2024 | $24.5M | -47% |
| Q3 2024 | $14.8M | -45% |
BLDP's revenue is recovering but still below its 2023 peak: $20M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -62% | +124 points |
| Q1 2026 | -67% | +122 points |
| Q4 2025 | -35% | +113 points |
| Q3 2025 | -92% | +335 points |
| Q2 2025 | -186% | +72 points |
| Q1 2025 | -189% | +105 points |
| Q4 2024 | -148% | -62 points |
| Q3 2024 | -428% | -289 points |
BLDP's operating margin was −62% last quarter, up 124 points from the same quarter a year ago.
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 BLDP on cash generation, producing positive trailing cash flow while its opponent burns cash.
BLDP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$12.2M | +$10.4M |
| Q1 2026 | -$8.4M | +$18.7M |
| Q4 2025 | $7.8M | +$38.2M |
| Q3 2025 | -$24.3M | +$16M |
| Q2 2025 | -$22.7M | +$15M |
| Q1 2025 | -$27.1M | +$396K |
| Q4 2024 | -$30.3M | -$4.4M |
| Q3 2024 | -$40.2M | -$11.2M |
BLDP has burned cash in almost every quarter: −$37M over the past year, against −$120M 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 | — |
BLDP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +560K shares |
| 1 year | +0.5% | +1.6M shares |
| 3 years | +0.9% | +2.8M shares |
| 5 years | +1.3% | +3.9M shares |
| Available history | +29% | +68.7M shares |
BLDP has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
BLDP hasn't bought back shares in the past year.
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.
BLDP Net Leverage
BLDP's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
BLDP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.4 | Neutral |
| Stochastic | 6.1 | Oversold |
BLDP's weekly RSI is 31 (neutral) and its Stochastic is 6 (oversold).
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.
BLDP PE vs Industrials Sector
BLDP has no meaningful PE right now: it lost money over the past year.
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.
BLDP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.70 | 18% below |
| 20 week MA | $2.26 | 38% below |
| 50 week MA | $2.79 | 50% below |
| 100 week MA | $2.35 | 40% below |
| 200 week MA | $2.90 | 52% below |
BLDP is in a downtrend: it's below all five of its weekly moving averages, and 52% below its 200-week average.
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 BLDP on returns for 2026, with the stronger performance.
BLDP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.94 | $23.5 | +238% |
| 2021 | $23.5 | $12.7 | -46% |
| 2022 | $12.7 | $4.79 | -62% |
| 2023 | $4.79 | $3.70 | -23% |
| 2024 | $3.70 | $1.69 | -54% |
| 2025 | $1.69 | $2.63 | +56% |
| 2026 YTD | $2.63 | $1.40 | -47% |
BLDP's yearly returns have swung widely, from +238% in 2020 to −62% in 2022. It's down 47% so far in 2026.