BA
The Boeing Company
BA has a slight edge over CPA overall, supported by stronger fundamentals and stronger modeled upside.
CPA
Copa Holdings, S.A.
CPA's outlook is improving, though it still trails on the overall score.
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.
CPA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
CPA'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 CPA in the historical PE scenario, which offers more potential upside but is not a forecast.
CPA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.6x | $100 | -30% |
| Forward | 8.2x | $143 | — |
| Fair | 8.5x | $130 | -9.1% |
| Current | 9.4x | $143 | — |
| Expensive | 11x | $171 | +20% |
Historical ranges are pointers, not guarantees.
CPA's PE is in its fair range at 9.4x. If earnings grow as analysts expect, today's price would be 8.2x next year's earnings.
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.
CPA Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for CPA, with profitability improving. 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 returned to profit: it earned $9.66 per share over the past year, after losing money the year before.
CPA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $17.32 | +14% |
| Q2 2026 | $15.22 | -1% |
| Q1 2026 | $17.16 | +17% |
| Q4 2025 | $16.28 | +12% |
| Q3 2025 | $16.09 | +4.9% |
| Q2 2025 | $15.38 | -7.1% |
| Q1 2025 | $14.65 | +3.8% |
| Q4 2024 | $14.56 | +12% |
| Q3 2024 | $15.34 | +47% |
CPA 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 CPA 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.
CPA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.1B | +26% |
| Q1 2026 | $1.1B | +17% |
| Q4 2025 | $962.9M | +9.6% |
| Q3 2025 | $913.1M | +6.8% |
| Q2 2025 | $842.6M | +2.8% |
| Q1 2025 | $899.2M | +0.6% |
| Q4 2024 | $878.6M | -3.7% |
| Q3 2024 | $854.7M | -1.5% |
CPA's revenue has grown year over year for six quarters in a row: $1.1B last quarter, up 26% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 8.7% | -12 points |
| Q1 2026 | 25% | +0.8 points |
| Q4 2025 | 22% | -0.7 points |
| Q3 2025 | 23% | +2.9 points |
| Q2 2025 | 21% | +1.5 points |
| Q1 2025 | 24% | -0.4 points |
| Q4 2024 | 23% | -0.3 points |
| Q3 2024 | 20% | -3.3 points |
CPA 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 CPA on cash flow, with more consistent year-over-year improvement.
CPA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$49.5M | +$62.2M |
| Q1 2026 | -$54.4M | -126% |
| Q4 2025 | $352.5M | +$641.2M |
| Q3 2025 | -$78M | -141% |
| Q2 2025 | -$111.7M | -141% |
| Q1 2025 | $205.5M | +2.2% |
| Q4 2024 | -$288.7M | +$231.3M |
| Q3 2024 | $188.6M | -45% |
CPA's free cash flow has turned positive again: $171M over the past year, against −$6M 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 | — |
CPA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -278K shares |
| 1 year | -0.8% | -341K shares |
| 3 years | +1.8% | +704K shares |
| 5 years | -4.1% | -1.7M shares |
| Available history | -3.7% | -1.6M shares |
CPA has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | $45M |
| Q4 2025 | $1,000 |
| Q3 2025 | — |
| Q2 2025 | $8.7M |
| Q1 2025 | — |
| Q4 2024 | $87.3M |
| Q3 2024 | — |
CPA spent $45M buying back its own shares over the past year, down 53% from the year before.
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.
CPA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 1.6x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.6x | Healthy |
| Q2 2025 | 1.6x | Healthy |
| Q1 2025 | 1.6x | Healthy |
| Q4 2024 | 1.3x | Healthy |
| Q3 2024 | 1.4x | Healthy |
CPA 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).
CPA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.9 | Neutral |
| Stochastic | 49.0 | Neutral |
CPA's weekly RSI is 58 (neutral) and its Stochastic is 49 (neutral).
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.
CPA PE vs Industrials Sector
| Metric | CPA | Sector median | Relative |
|---|---|---|---|
| PE | 9.4x | 24x | 61% below |
| PE % | 62 | 58 | 4 pts above |
CPA has the edge over BA on valuation relative to its sector.
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.
CPA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $134.9 | 5.9% above |
| 20 week MA | $136.5 | 4.6% above |
| 50 week MA | $132.3 | 7.9% above |
| 100 week MA | $118.8 | 20% above |
| 200 week MA | $107.8 | 33% above |
CPA 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.
CPA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $107.5 | $74.9 | -30% |
| 2021 | $74.9 | $82.4 | +10% |
| 2022 | $82.4 | $84.6 | +2.6% |
| 2023 | $84.6 | $106.3 | +26% |
| 2024 | $106.3 | $87.6 | -18% |
| 2025 | $87.6 | $121.5 | +39% |
| 2026 YTD | $121.5 | $142.8 | +18% |
CPA has the edge over BA on returns for 2026, with the stronger performance.