BA
The Boeing Company
BA has the edge over EAF overall, supported by stronger fundamentals and lower modeled downside.
EAF
GrafTech International Ltd.
EAF 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.
EAF Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Weak | |
| Weak |
EAF's revenue is currently stable, but its profitability, cash flow and balance sheet are weak.
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.
EAF PE Valuation
EAF 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.
EAF Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect EAF'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 EAF on earnings quality, reporting a profit while its opponent remains loss making.
EAF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$7.41 | +$0.49 |
| Q2 2026 | -$6.75 | +$1.45 |
| Q1 2026 | -$8.61 | -$3.21 |
| Q4 2025 | -$8.45 | -$3.35 |
| Q3 2025 | -$7.90 | +$3.70 |
| Q2 2025 | -$8.20 | +$2.90 |
| Q1 2025 | -$5.40 | +$5.40 |
| Q4 2024 | -$5.10 | +$4.80 |
EAF is still losing money, but less than at its worst: $7.41 per share over the past year, against $11.60 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 EAF 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 EAF on profitability, with a higher operating margin.
EAF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $140.2M | -2.7% |
| Q2 2026 | $127.4M | -3.4% |
| Q1 2026 | $125.1M | +12% |
| Q4 2025 | $116.5M | -13% |
| Q3 2025 | $144M | +10% |
| Q2 2025 | $131.8M | -4% |
| Q1 2025 | $111.8M | -18% |
| Q4 2024 | $134.2M | -2.1% |
EAF's revenue fell from its 2019 peak and has held roughly level since: $140M last quarter, down 2.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -16% | -13 points |
| Q2 2026 | -11% | -0.4 points |
| Q1 2026 | -25% | -8.2 points |
| Q4 2025 | -34% | -15 points |
| Q3 2025 | -3.5% | +17 points |
| Q2 2025 | -11% | -9.1 points |
| Q1 2025 | -16% | -0.6 points |
| Q4 2024 | -19% | +133 points |
EAF's operating margin was −16% last quarter, down 13 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 EAF on cash generation, producing positive trailing cash flow while its opponent burns cash.
EAF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$16.3M | -189% |
| Q2 2026 | -$75.5M | -$18.3M |
| Q1 2026 | -$27.1M | +$15.4M |
| Q4 2025 | -$39.3M | -$56K |
| Q3 2025 | $18.4M | -6.6% |
| Q2 2025 | -$57.1M | -$13.3M |
| Q1 2025 | -$42.5M | -$31.4M |
| Q4 2024 | -$39.2M | -1208% |
EAF has burned cash in seven of the last eight quarters: −$158M 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 | — |
EAF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1% | +259K shares |
| 1 year | +2.2% | +581K shares |
| 3 years | +3.1% | +805K shares |
| 5 years | -0.8% | -204K shares |
| Available history | -8.3% | -2.4M shares |
EAF has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $30M |
| Q1 2022 | $30M |
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.
EAF Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2023 | 6.6x | High |
| Q2 2023 | 3.3x | Elevated |
| Q1 2023 | 2.1x | Moderate |
| Q4 2022 | 1.5x | Healthy |
| Q3 2022 | 1.3x | Healthy |
| Q2 2022 | 1.3x | Healthy |
| Q1 2022 | 1.5x | Healthy |
| Q4 2021 | 1.7x | Healthy |
EAF's net debt is about 6.6 years of its operating earnings (EBITDA), up from 1.3 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).
EAF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 75.0 | Neutral |
EAF's weekly RSI is 56 (neutral) and its Stochastic is 75 (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.
EAF PE vs Industrials Sector
| Metric | EAF | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
EAF 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.
EAF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.73 | 14% above |
| 20 week MA | $8.07 | 37% above |
| 50 week MA | $9.44 | 17% above |
| 100 week MA | $10.8 | 2.5% above |
| 200 week MA | $19.4 | 43% below |
EAF 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 the edge over EAF on returns for 2026, with the stronger performance.
EAF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $116.7 | $91.0 | -22% |
| 2021 | $91.0 | $116.5 | +28% |
| 2022 | $116.5 | $47.1 | -60% |
| 2023 | $47.1 | $21.9 | -54% |
| 2024 | $21.9 | $16.7 | -24% |
| 2025 | $16.7 | $16.3 | -2.7% |
| 2026 YTD | $16.3 | $11.1 | -32% |
EAF has finished four years in a row lower, and it's down 32% so far in 2026.