BA
The Boeing Company
BA has the edge over CTOS overall, supported by stronger valuation and stronger fundamentals.
CTOS
Custom Truck One Source, Inc.
CTOS 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.
CTOS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Under pressure |
CTOS's profitability is currently healthy, and its revenue and cash flow are stable, 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 CTOS in the historical PE scenario, which offers more potential upside but is not a forecast.
CTOS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 24x | $3.42 | -67% |
| Fair | 39x | $5.42 | -48% |
| Forward | 41x | $10.34 | — |
| Current | 74x | $10.34 | — |
| Expensive | 202x | $28.34 | +174% |
Historical ranges are pointers, not guarantees.
CTOS's PE is in its expensive range at 74x. If earnings grow as analysts expect, today's price would be 41x next year's earnings, in its fair 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.
CTOS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for CTOS, 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.
CTOS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.25 | +80% |
| Q3 2026 | $0.14 | +$0.27 |
| Q2 2026 | $0.10 | +$0.27 |
| Q1 2026 | -$0.08 | +$0.06 |
| Q4 2025 | -$0.14 | -$0.02 |
| Q3 2025 | -$0.13 | +$0.04 |
| Q2 2025 | -$0.17 | -$0.11 |
| Q1 2025 | -$0.14 | -256% |
| Q4 2024 | -$0.12 | -157% |
CTOS has returned to profit: it earned $0.14 per share over the past year, after losing money 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 CTOS 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.
CTOS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $495.2M | +2.7% |
| Q2 2026 | $563.4M | +10% |
| Q1 2026 | $461.6M | +9.3% |
| Q4 2025 | $528.2M | +1.4% |
| Q3 2025 | $482.1M | +7.8% |
| Q2 2025 | $511.5M | +21% |
| Q1 2025 | $422.2M | +2.7% |
| Q4 2024 | $520.7M | -0.2% |
CTOS's revenue has grown year over year for seven quarters in a row: $495M last quarter, up 2.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.7% | +0.9 points |
| Q2 2026 | 8.3% | +2.8 points |
| Q1 2026 | 6.8% | +3.9 points |
| Q4 2025 | 9.8% | -3.1 points |
| Q3 2025 | 6.8% | +1.6 points |
| Q2 2025 | 5.5% | +1.3 points |
| Q1 2025 | 2.9% | -1.5 points |
| Q4 2024 | 13% | +2.7 points |
CTOS 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 CTOS on cash flow, with more consistent year-over-year improvement.
CTOS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $163.5M | +101% |
| Q2 2026 | $44.4M | -65% |
| Q1 2026 | $23.8M | -57% |
| Q4 2025 | $47.3M | -42% |
| Q3 2025 | $81.5M | +393% |
| Q2 2025 | $125.7M | +233% |
| Q1 2025 | $55.6M | +$70M |
| Q4 2024 | $82.1M | +$110.2M |
CTOS generated $279M in free cash flow over the past year, down 19% 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 | — |
CTOS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +221K shares |
| 1 year | +1.5% | +3.3M shares |
| 3 years | -6.8% | -16.7M shares |
| 5 years | -5.9% | -14.4M shares |
| Available history | +369% | +181M shares |
CTOS has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $32.6M |
| Q4 2024 | — |
CTOS 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 has the edge over CTOS on leverage, with a lower net debt burden relative to earnings.
CTOS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.7x | Elevated |
| Q2 2026 | 3.8x | Elevated |
| Q1 2026 | 3.9x | Elevated |
| Q4 2025 | 4.2x | High |
| Q3 2025 | 4.1x | High |
| Q2 2025 | 4.2x | High |
| Q1 2025 | 4.4x | High |
| Q4 2024 | 4.2x | High |
CTOS's net debt is about 3.7 years of its operating earnings (EBITDA), down from 4.1 years 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).
CTOS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.3 | Neutral |
| Stochastic | 56.6 | Neutral |
CTOS's weekly RSI is 56 (neutral) and its Stochastic is 57 (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 CTOS on valuation relative to its sector.
CTOS PE vs Industrials Sector
| Metric | CTOS | Sector median | Relative |
|---|---|---|---|
| PE | 74x | 24x | 207% above |
| PE % | 70 | 58 | 12 pts above |
CTOS is trading at 74x earnings, a 207% premium 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.
CTOS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.61 | 7.6% above |
| 20 week MA | $9.82 | 5.3% above |
| 50 week MA | $8.55 | 21% above |
| 100 week MA | $6.86 | 51% above |
| 200 week MA | $6.29 | 64% above |
CTOS 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.
CTOS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $4.05 | $7.24 | +79% |
| 2021 | $7.24 | $8.04 | +11% |
| 2022 | $8.04 | $6.14 | -24% |
| 2023 | $6.14 | $6.18 | +0.7% |
| 2024 | $6.18 | $4.72 | -24% |
| 2025 | $4.72 | $5.97 | +26% |
| 2026 YTD | $5.97 | $10.3 | +73% |
CTOS has the edge over BA on returns for 2026, with the stronger performance.