BA
The Boeing Company
BA has the edge over ESAB overall, supported by stronger fundamentals and stronger valuation.
ESAB
ESAB Corporation
ESAB'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.
ESAB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Stable | |
| Weak |
ESAB's revenue is currently healthy, and its profitability and cash flow are stable, but its balance sheet is 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 has the edge over ESAB in the historical PE scenario, which offers more potential upside but is not a forecast.
ESAB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 14x | $82.55 | — |
| Cheap | 18x | $43.61 | -47% |
| Fair | 26x | $63.73 | -23% |
| Expensive | 29x | $71.57 | -13% |
| Current | 34x | $82.55 | — |
Historical ranges are pointers, not guarantees.
ESAB's PE is in its expensive range at 34x. If earnings grow as analysts expect, today's price would be 14x next year's earnings, in its cheap range.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
BA has the edge over ESAB on the outlook, with more favorable profitability expectations.
ESAB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for ESAB, with profitability holding steady.
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 ESAB on earnings, with more consistent year-over-year improvement.
ESAB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.91 | +142% |
| Q3 2026 | $2.44 | -38% |
| Q2 2026 | $2.76 | -34% |
| Q1 2026 | $3.35 | -24% |
| Q4 2025 | $3.67 | -15% |
| Q3 2025 | $3.96 | -7.3% |
| Q2 2025 | $4.17 | +1.7% |
| Q1 2025 | $4.43 | +16% |
| Q4 2024 | $4.31 | +28% |
ESAB's earnings per share have fallen from their peak: $2.44 over the past year, against $4.43 in early 2025.
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 ESAB 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.
ESAB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $824.5M | +13% |
| Q2 2026 | $807.6M | +13% |
| Q1 2026 | $745.6M | +9.9% |
| Q4 2025 | $721M | +7.5% |
| Q3 2025 | $727.8M | +8.1% |
| Q2 2025 | $715.6M | +1.2% |
| Q1 2025 | $678.1M | -1.7% |
| Q4 2024 | $670.8M | -2.7% |
ESAB's revenue has grown year over year for six quarters in a row: $825M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | -3.5 points |
| Q2 2026 | 9.8% | -5.5 points |
| Q1 2026 | 12% | -4.1 points |
| Q4 2025 | 12% | -4.6 points |
| Q3 2025 | 15% | -1.1 points |
| Q2 2025 | 15% | -1.6 points |
| Q1 2025 | 16% | +0.2 points |
| Q4 2024 | 17% | +1.6 points |
ESAB 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 ESAB on cash flow, with more consistent year-over-year improvement.
ESAB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $54.4M | -23% |
| Q2 2026 | $15.7M | -58% |
| Q1 2026 | $33.2M | +18% |
| Q4 2025 | $77.4M | -24% |
| Q3 2025 | $70.3M | -22% |
| Q2 2025 | $37.4M | -49% |
| Q1 2025 | $28.1M | -24% |
| Q4 2024 | $102.2M | -0.9% |
ESAB's free cash flow has been positive every quarter since early 2021: $181M over the past year, down 24% 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 | — |
ESAB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +763K shares |
| 1 year | +1.9% | +1.2M shares |
| 3 years | +2.7% | +1.7M shares |
| 5 years | +4% | +2.4M shares |
ESAB has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
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 ESAB on leverage, with a lower net debt burden relative to earnings.
ESAB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.6x | High |
| Q2 2026 | 4.7x | High |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 2.1x | Moderate |
| Q3 2025 | 2.2x | Moderate |
| Q2 2025 | 1.6x | Healthy |
| Q1 2025 | 1.5x | Healthy |
| Q4 2024 | 1.6x | Healthy |
ESAB's net debt is about 4.6 years of its operating earnings (EBITDA), up from 2.2 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).
ESAB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.3 | Neutral |
| Stochastic | 47.4 | Neutral |
ESAB's weekly RSI is 50 (neutral) and its Stochastic is 47 (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 ESAB on valuation relative to its sector.
ESAB PE vs Industrials Sector
| Metric | ESAB | Sector median | Relative |
|---|---|---|---|
| PE | 34x | 24x | 41% above |
| PE % | 97 | 68 | 29 pts above |
ESAB is trading at 34x earnings, a 41% 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.
ESAB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $72.0 | 15% above |
| 20 week MA | $78.2 | 5.6% above |
| 50 week MA | $96.0 | 14% below |
| 100 week MA | $107.8 | 23% below |
| 200 week MA | $96.5 | 14% below |
ESAB 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 ESAB on returns for 2026, with the stronger performance.
ESAB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2022 | $50.0 | $49.1 | -1.8% |
| 2023 | $49.1 | $86.6 | +76% |
| 2024 | $86.6 | $121.4 | +40% |
| 2025 | $121.4 | $114.2 | -5.9% |
| 2026 YTD | $114.2 | $82.6 | -28% |
ESAB has finished lower in two of the last four years. It's down 28% so far in 2026.