BA
The Boeing Company
BA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
ENS
EnerSys
ENS has the edge over BA overall, supported by stronger valuation and stronger modeled upside.
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.
ENS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Healthy |
ENS's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
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 ENS in the historical PE scenario, which offers more potential upside but is not a forecast.
ENS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 11x | $148 | — |
| Cheap | 14x | $138 | -6.6% |
| Current | 15x | $148 | — |
| Fair | 20x | $196 | +33% |
| Expensive | 26x | $257 | +74% |
Historical ranges are pointers, not guarantees.
ENS's PE is in its cheap range at 15x. If earnings grow as analysts expect, today's price would be 11x 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.
ENS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ENS, 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.
ENS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.22 | +33% |
| Q3 2026 | $9.95 | +17% |
| Q2 2026 | $9.33 | +6.8% |
| Q1 2026 | $7.70 | -14% |
| Q4 2025 | $8.05 | -0.4% |
| Q3 2025 | $8.53 | +21% |
| Q2 2025 | $8.74 | +32% |
| Q1 2025 | $8.99 | +38% |
| Q4 2024 | $8.08 | +22% |
ENS 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 ENS 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.
ENS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $949.9M | -0.1% |
| Q2 2026 | $935.6M | +4.8% |
| Q1 2026 | $987.9M | +1.3% |
| Q4 2025 | $919.1M | +1.4% |
| Q3 2025 | $951.3M | +7.7% |
| Q2 2025 | $893M | +4.7% |
| Q1 2025 | $974.8M | +7% |
| Q4 2024 | $906.2M | +5.2% |
ENS's revenue grew through 2022 and has held roughly level since: $950M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +2.5 points |
| Q2 2026 | 16% | +6.5 points |
| Q1 2026 | 13% | -1 points |
| Q4 2025 | 14% | -2.2 points |
| Q3 2025 | 9.7% | -1.6 points |
| Q2 2025 | 9.7% | -1 points |
| Q1 2025 | 13% | +4.6 points |
| Q4 2024 | 16% | +5 points |
ENS 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 ENS on cash flow, with more consistent year-over-year improvement.
ENS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $130.3M | -34% |
| Q2 2026 | $217.7M | +$249.8M |
| Q1 2026 | $131.2M | +25% |
| Q4 2025 | $171.3M | +202% |
| Q3 2025 | $197.1M | +5876% |
| Q2 2025 | -$32.1M | -$6.3M |
| Q1 2025 | $104.9M | -4.1% |
| Q4 2024 | $56.8M | -49% |
ENS generated $650M in free cash flow over the past year, up 99% 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 | — |
ENS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.8% | -669K shares |
| 1 year | -2.7% | -1M shares |
| 3 years | -11% | -4.7M shares |
| 5 years | -15% | -6.3M shares |
| Available history | -14% | -5.9M shares |
ENS has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $130M |
| Q2 2026 | $50M |
| Q1 2026 | $69.3M |
| Q4 2025 | $83.6M |
| Q3 2025 | $67.8M |
| Q2 2025 | $150M |
| Q1 2025 | $40M |
| Q4 2024 | $38.7M |
ENS spent $333M buying back its own shares over the past year, up 12% 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.
ENS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.9x | Very low |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.5x | Healthy |
| Q2 2025 | 1.7x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.6x | Healthy |
ENS 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).
ENS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.5 | Neutral |
| Stochastic | 5.8 | Oversold |
ENS's weekly RSI is 32 (neutral) and its Stochastic is 6 (oversold).
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.
ENS PE vs Industrials Sector
| Metric | ENS | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 24x | 38% below |
| PE % | 22 | 58 | 36 pts below |
ENS 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.
ENS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $168.1 | 12% below |
| 20 week MA | $182.0 | 19% below |
| 50 week MA | $184.5 | 20% below |
| 100 week MA | $142.3 | 3.9% above |
| 200 week MA | $118.9 | 24% above |
ENS 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.
ENS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $75.5 | $83.3 | +10% |
| 2021 | $83.3 | $77.5 | -6.9% |
| 2022 | $77.5 | $73.0 | -5.8% |
| 2023 | $73.0 | $101.0 | +38% |
| 2024 | $101.0 | $92.7 | -8.2% |
| 2025 | $92.7 | $151.0 | +63% |
| 2026 YTD | $151.0 | $147.8 | -2.1% |
ENS has the edge over BA on returns for 2026, with the stronger performance.