BA
The Boeing Company
BA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
CP
Canadian Pacific Kansas City Ltd.
CP has the edge over BA overall, supported by 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.
CP Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Under pressure |
CP's revenue, profitability and cash flow are currently healthy, but its balance sheet is under pressure.
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 CP in the historical PE scenario, which offers more potential upside but is not a forecast.
CP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 21x | $64.06 | -32% |
| Fair | 25x | $76.12 | -20% |
| Expensive | 29x | $87.31 | -7.7% |
| Current | 31x | $94.60 | — |
Historical ranges are pointers, not guarantees.
CP's PE is 31x, but its earnings don't support one, so it isn't a reliable read right now.
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.
CP Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for CP, 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.
CP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $3.04 | -5.9% |
| Q2 2026 | $3.02 | -4.1% |
| Q1 2026 | $3.15 | +8.6% |
| Q4 2025 | $3.17 | +13% |
| Q3 2025 | $3.23 | +21% |
| Q2 2025 | $3.15 | +20% |
| Q1 2025 | $2.90 | -1.4% |
| Q4 2024 | $2.80 | -5.4% |
CP earned $3.04 per share over the past year, down 5.9% from the year before.
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 CP 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.
CP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3B | +15% |
| Q2 2026 | $2.9B | +13% |
| Q1 2026 | $2.6B | -2.5% |
| Q4 2025 | $2.8B | +1.3% |
| Q3 2025 | $2.6B | +3.2% |
| Q2 2025 | $2.6B | +2.7% |
| Q1 2025 | $2.7B | +7.8% |
| Q4 2024 | $2.7B | +2.6% |
CP's revenue is growing: $3B last quarter, up 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 35% | -1.2 points |
| Q2 2026 | 35% | -1 points |
| Q1 2026 | 34% | -0.7 points |
| Q4 2025 | 41% | +0.8 points |
| Q3 2025 | 36% | +2.6 points |
| Q2 2025 | 36% | +1.1 points |
| Q1 2025 | 35% | +2.1 points |
| Q4 2024 | 40% | +2.1 points |
CP 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 CP on cash flow, with more consistent year-over-year improvement.
CP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $658.7M | +126% |
| Q2 2026 | $680.5M | +58% |
| Q1 2026 | $219.3M | -30% |
| Q4 2025 | $517.4M | -23% |
| Q3 2025 | $291.1M | -21% |
| Q2 2025 | $430.3M | +30% |
| Q1 2025 | $312.9M | -8.8% |
| Q4 2024 | $676.3M | +51% |
CP's free cash flow has been positive every quarter for seven years: $2.1B over the past year, up 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 | — |
CP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -9.5M shares |
| 1 year | -3.7% | -33.8M shares |
| 3 years | -6% | -56.3M shares |
| 5 years | +31% | +208M shares |
| Available history | +26% | +181M shares |
CP has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1B |
| Q2 2026 | $902M |
| Q1 2026 | $478.1M |
| Q4 2025 | $279.1M |
| Q3 2025 | $1.3B |
| Q2 2025 | $979.3M |
| Q1 2025 | $244M |
| Q4 2021 | — |
CP spent $2.7B buying back its own shares over 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 has the edge over CP on leverage, with a lower net debt burden relative to earnings.
CP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.2x | Elevated |
| Q2 2026 | 3.2x | Elevated |
| Q1 2026 | 3.2x | Elevated |
| Q4 2025 | 3.2x | Elevated |
| Q3 2025 | 3.1x | Elevated |
| Q2 2025 | 2.9x | Moderate |
| Q1 2025 | 3.0x | Elevated |
| Q4 2024 | 3.3x | Elevated |
CP's net debt is about 3.2 years of its operating earnings (EBITDA), about the same as a year ago.
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).
CP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.0 | Neutral |
| Stochastic | 65.2 | Neutral |
CP's weekly RSI is 62 (neutral) and its Stochastic is 65 (neutral).
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 CP on valuation relative to its sector.
CP PE vs Industrials Sector
| Metric | CP | Sector median | Relative |
|---|---|---|---|
| PE | 31x | 24x | 29% above |
| PE % | 91 | 58 | 33 pts above |
CP is trading at 31x earnings, a 29% premium to the Industrials sector's median of 24x, though its earnings don't support one.
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.
CP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $88.8 | 6.5% above |
| 20 week MA | $90.4 | 4.7% above |
| 50 week MA | $84.9 | 11% above |
| 100 week MA | $80.3 | 18% above |
| 200 week MA | $79.9 | 18% above |
CP 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.
CP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $51.4 | $68.9 | +34% |
| 2021 | $68.9 | $71.3 | +3.5% |
| 2022 | $71.3 | $75.5 | +5.9% |
| 2023 | $75.5 | $79.1 | +4.7% |
| 2024 | $79.1 | $72.6 | -8.2% |
| 2025 | $72.6 | $74.7 | +3% |
| 2026 YTD | $74.7 | $94.6 | +27% |
CP has the edge over BA on returns for 2026, with the stronger performance.