BA
The Boeing Company
BA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
CMI
Cummins Inc.
CMI has the edge over BA overall, supported by stronger modeled upside and lower modeled downside.
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.
CMI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Healthy |
CMI's revenue, profitability, cash flow and balance sheet are all currently healthy.
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 CMI in the historical PE scenario, which offers more potential upside but is not a forecast.
CMI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 13x | $305 | -33% |
| Forward | 14x | $455 | — |
| Fair | 18x | $423 | -7.2% |
| Current | 19x | $455 | — |
| Expensive | 25x | $596 | +31% |
Historical ranges are pointers, not guarantees.
CMI's PE is in its fair range at 19x. If earnings grow as analysts expect, today's price would be 14x next year's earnings, in its cheap range.
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.
CMI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for CMI, with profitability improving.
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.
CMI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $32.34 | +35% |
| Q3 2026 | $23.94 | +23% |
| Q2 2026 | $19.55 | -8.9% |
| Q1 2026 | $19.25 | -5.2% |
| Q4 2025 | $20.50 | -28% |
| Q3 2025 | $19.47 | +29% |
| Q2 2025 | $21.47 | +55% |
| Q1 2025 | $20.30 | +49% |
| Q4 2024 | $28.37 | +451% |
CMI has the edge over BA on earnings, with more consistent year-over-year improvement.
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 CMI 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.
CMI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $9.4B | +13% |
| Q2 2026 | $9.5B | +9.4% |
| Q1 2026 | $8.4B | +2.7% |
| Q4 2025 | $8.5B | +1.1% |
| Q3 2025 | $8.3B | -1.6% |
| Q2 2025 | $8.6B | -1.7% |
| Q1 2025 | $8.2B | -2.7% |
| Q4 2024 | $8.4B | -1.1% |
CMI's revenue has grown year over year for four quarters in a row: $9.4B last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +5.1 points |
| Q2 2026 | 14% | -0.7 points |
| Q1 2026 | 11% | -2.6 points |
| Q4 2025 | 9.5% | +0.8 points |
| Q3 2025 | 10% | -2.2 points |
| Q2 2025 | 14% | +2.3 points |
| Q1 2025 | 14% | +2.9 points |
| Q4 2024 | 8.7% | +23 points |
CMI has the edge over BA on profitability, with a higher operating margin.
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 CMI on cash flow, with more consistent year-over-year improvement.
CMI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +9.4% |
| Q2 2026 | $1.3B | +126% |
| Q1 2026 | $120M | +$285M |
| Q4 2025 | $990M | +12% |
| Q3 2025 | $1B | +164% |
| Q2 2025 | $554M | +$1.6B |
| Q1 2025 | -$165M | -254% |
| Q4 2024 | $882M | -6.2% |
CMI generated $3.5B in free cash flow over the past year, up 52% 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 | — |
CMI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -400K shares |
| 1 year | -0.5% | -700K shares |
| 3 years | -3.3% | -4.7M shares |
| 5 years | -4.6% | -6.6M shares |
| Available history | -12% | -18M shares |
CMI has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $359M |
| Q2 2026 | $225M |
| Q1 2026 | $243M |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | $4M |
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.
CMI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.6x | Very low |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 0.9x | Very low |
| Q4 2025 | 0.9x | Very low |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 1.0x | Healthy |
| Q1 2025 | 1.1x | Healthy |
| Q4 2024 | 1.1x | Healthy |
CMI has the edge over BA on leverage, with a lower net debt burden relative to earnings.
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).
CMI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 28.0 | Oversold |
| Stochastic | 3.3 | Oversold |
CMI's weekly RSI is 28 (oversold) and its Stochastic is 3 (oversold).
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 CMI on valuation relative to its sector.
CMI PE vs Industrials Sector
| Metric | CMI | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 24x | 21% below |
| PE % | 58 | 58 | Same percentile |
CMI is trading at 19x earnings, a 21% discount to the Industrials sector's median of 24x.
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.
CMI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $503.9 | 9.6% below |
| 20 week MA | $569.7 | 20% below |
| 50 week MA | $584.4 | 22% below |
| 100 week MA | $475.1 | 4.2% below |
| 200 week MA | $370.2 | 23% above |
CMI has the edge over BA on trend strength, trading above more of its moving averages.
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.
CMI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $180.7 | $226.5 | +25% |
| 2021 | $226.5 | $214.0 | -5.5% |
| 2022 | $214.0 | $241.3 | +13% |
| 2023 | $241.3 | $239.6 | -0.7% |
| 2024 | $239.6 | $351.2 | +47% |
| 2025 | $351.2 | $519.1 | +48% |
| 2026 YTD | $519.1 | $455.4 | -12% |
CMI has the edge over BA on returns for 2026, with the stronger performance.